FX News Today
USD mixed but biased higher, Yields move lower, Equities edge higher. Biden stimulus announcement later, Trump impeached. Asian markets move higher, US CPI & Oil yesterday inline with expectations, Lagarde talked of extending PEPP as required and hopes for a digital EUR with 5 years. Overnight – More good news from JPY and the the largest ever Chinese monthly trade surplus (78.2Bln and a +18.1% increase in Exports). AUD & NZD benefit the most. Gold & Oil lower, Bitcoin bounced again.
China reports first COVID death in six months.
USDIndex – Holds over 90.00. Trades at 90.36, – PP 90.20 – R1 90.50, S1 90.00.
EUR – Back under 1.2200 (R1) – Trades at 1.2145 now– PP – 1.2170 (200HrMA). S1 1.2125.
JPY – Back to just break over 104.000 – Trades at 104.05 (R1) – PP 103.78, S1 103.60.
GBP – Continued rally to 1.3700 yesterday. back to 1.3650 (PP) – R1 1.3680, S1 1.3600.
AUD – Over 0.7700 – trades at 0.7750 (PP) now. R1 0.7772, S1 0.7710 .
NZD – Holds at 0.7200 (PP and 200MA) – s1 0.7152, r1 0.7226.
CAD – Back under 1.2700 (S1) trades at 1.2680 (S2) – PP 1.2772 .
CHF – Trades at 0.8875 (PP) – S1 & 200MA 0.8850, R1 0.8890.
BTC – Bounces back to R3 at $38,300. – PP today 34,000.
GOLD – back under 1850 (S1) and Trades at 1837 (S3) – S2 1842.
USOil – Down from yesterdays 11-mth high at $53.90 after official inventories were in line with expectations. Trades at $53.00 now – PP 53.10, s1 52.55, r1 53.85.
USA500 – Closed up 8.86 (+0.23%) 3809 – USA500 FUTS now at 3818 – 49 days north of 20SMA (3743).
Today – ECB minutes, US weekly jobs data, OPEC MOMR, President-elect Biden is to unveil his stimulus package, Fed’s Powell, Rosengren, Bostic, Kaplan.
Biggest (FX) Mover @ (07:30 GMT) AUDJPY (+0.41%) Daily chart breached 20SMA Nov. 3 at 74.80 – Bounced from 80.25 on open, data and stimulus expectation helping tested 80.75 earlier. Fast MAs aligned and trending higher, RSI 61 and rising, MACD histogram & signal line aligned higher and north of 0 line from earlier, Stochastics OB since MACD broke 0 line. H1 ATR 0.1025, Daily ATR 0.6000.
Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.