Index snaps a two-day streak

In an otherwise rather dull Asian morning session today, the biggest mover was the HongKong33 index which struggled after another flare-up at protests during the weekend. While most other indices benefitted from the latest move on Wall Street to record levels, the local index slid 0.38% to 28,961, after earlier touching the highest since May 8 last year. Today’s move snapped a two-day winning streak and could mark the 29,200 mark as a crucial resistance level.

HK33 Daily Chart

Source: OANDA fxTrade

 

Currencies steady

With US markets closed later today for Martin Luther King Day, and China markets having one eye on the Lunar New Year holidays starting at the end of the week, activity in the markets was quite muted, especially so in the currency markets.

EUR/USD traded 0.08% higher while the Australian dollar out-performed with gains of 0.14% versus the US dollar and 0.16% versus the Japanese yen. AUD/USD has snapped a two-day losing streak and rebounded ahead of the 55-day moving average at 0.6868.

AUD/USD Daily Chart

Source: OANDA fxTrade

 

A sparse calendar

It’s a slow start to the week on the data front with Japan’s industrial production and capacity utilization data for November the major event left. These are final readings for the month and the provisional ones showed a 0.9% m/m decline and a 4.5% drop, respectively

German producer prices probably rose 0.1% m/m in December, a marginal increase from the flat reading the previous month.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities.

Opinions are the authors — not necessarily OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD falls below 1.1850 as US consumer sentiment beats

EUR/USD is trading under1.1850, off the previous levels as US consumer sentiment beat estimates with 78.9 points. The Fed refrained from adding more stimulus, supporting the dollar earlier in the week. Investors are eyeing fiscal stimulus talks.

EUR/USD News

GBP/USD falls as the EU reportedly objects Johnson's bill

GBP/USD is trading around 1.2950, off the highs. According to reports, the EU remains opposed to UK PM Johnson's controversial bill, which violates the Brexit accord. 

GBP/USD News

XAU/USD struggles to move back above 100-hour SMA

Gold regained some positive traction on the last trading day of the week and recovered a part of the previous day's losses to over one-week lows. The commodity held on to its intraday gains and traded above the $1950 level through the mid-European session.

Gold News

Ethereum hits Bitcoin's bid to lead the market

Bitcoin risks dominance after the strong rise of Ethereum. Technical indicators show some significant discrepancies keeping the stress on the board. Sentiment levels are improving and bordering on optimism.

Read more

After yesterday's JMMC meeting WTI settles near $40 per barrel

WTI has been through a rollercoaster this week. The liquid gold has been in a downtrend leading into the OPEC+ JMMC meeting and then reversed the whole move. At the meeting the group agreed to extend the compensation period for overproduction till the end of December. 

Oil News

Forex Majors

Cryptocurrencies

Signatures