FX News Today
USD continues to bounce, JPY, AUD & NZD weaken, Yields up as virus worries escalate and China pushes back on US sanctions and reacts to US normalizing relations with Taiwan. Plus, Speaker Pelosi’s plans to impeach President Trump if the cabinet doesn’t act to remove him. Equities closed at new ATHs on Friday, despite big miss for NFP. Asian markets mixed (Japan closed today) Gold, Bitcoin and Oil all down sharply. Overnight – Chinese inflation better than expected and Aussie Retail Sales in line at a perky 7%.
This week – US Retail Sales and Inflation (CPI & PPI), UK GDP, lots of Central bankers speaking topped by Powell on Thursday.
USDIndex – 4th day higher from 33-mth low (89.15) and back over 90.00 – trades at 90.31 – PP 89.90 – Touching a 19-day high earlier.
EUR – 3rd day lower trades under 1.2200 – 1.2165 earlier, for a 17-day low, back to 1.2185 now– PP – 1.2235.
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JPY – 4th day higher – breached n holds 104.00 – Trades at 104.12 (R1) , close to one-month highs – PP 103.87
GBP – down under 1.3500 this morning – testing S2 at 1.3480 PP 1.3580
AUD – Back down to trade at 0.7700 (s2) – PP 0.7760
NZD – slips under 0.7200 this morning – PP 0.7240, trades at 0.7185
CAD – breaches and holds over 1.2700 (PP) – moving higher on weaker Oil prices – trades at 1.2765 (R2)
CHF – Trades at R1 around 0.8885 – up from 3 yr lows on Wednesday at 0.8757. PP 0.8850
BTC – Parabolic bazooka boom continued Friday to new ATHs over $41,800 – rapidly retraced to day – “Back” under $35,000.
GOLD – Big faller (1920-1830) on Friday, Trades at 1850 now, PP 1875
USOil – $52.70 high Friday – trades at $51.50 (PP) now – still elevated
USA500 – Closed up 20 (+0.55%) 3824 – USA500 FUTS now at 3803. 46 days north of 20SMA (3722).
Today – EZ Sentix Index, BoE’s Tenreyro, ECB’s Lagarde, Fed’s Bostic, Kaplan.
Biggest (FX) Mover @ (07:30 GMT) AUDUSD (-0.65%) Continued Friday’s decline on open, moved down from PP, now under 200Hr MA to pivot at 0.7700. S2 0.7690. Slow & Fast MAs aligned and trending lower, RSI 35 and falling, MACD histogram & signal line aligned lower, significant break of 0 line this morning, Stochastics rising from OS zone. H1 ATR 0.0018, Daily ATR 0.0082.
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.
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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.