FX News Today

FX pairs rangebound, JPY&CHF weakest, AUD & NZD bid. Asian markets move higher today, US markets closed lower on Friday, Yields & Gold lower, Oil ticks higher.  Overweekend  – Biden promises $1.9 trln stimulus will happen, COVID cases, hospitalizations and variants keep spreading, Vaccine rollouts – patchy globally.

This week – FED on Wednesday, GDP from EU & US and a big week for Earnings – FB, Microsoft, Tesla, Apple and DAVOS goes on line.

USDIndex – Holds over 90.00. Trades at 90.07, – PP 90.15 – R1 90.300, S1 90.00

EUR – Back under 1.2200 (R1) – Trades at 1.2180 now– PP – 1.2170                                      

 JPY –  Back under 104.000 – Trades at 103.70 (PP) –   S1 103.55

GBP – Continued to hold 1.3700. Back to toest  1.3730 (R1) –

AUD – Over 0.7700 – trades at 0.7735 (PP) now. R1 0.7754,                                     NZD – Holds over  0.7200 (PP and 200MA) – s1 0.7115, R1 0.7215                                    CAD – Back under 1.2700 (PP) trades at  1.2690,  (S1) – 1.2660                                CHF – Trades at 0.8850 (PP) – S1 & 200MA 0.8835, R1 0.8865  

BTC – Bounces back to PP at $33,200. – R1 today 35,000,

GOLD – back to 1850 –  PP 1855, s1 1837, R1 1870                                                 USOil – DUp in last hour as Iraq agrees output cut – trades at $52.61 now – PP 52.15, s1 51.20, r1 52.90

USA500 – Closed down 11 (-0.30%) 3841 – USA500 FUTS now at 3860 – 56 days north of 20SMA (3783).

Today – German IFO, ECB’s Lagarde, Panetta, Lane, Elderson, BoE Governor Bailey, Chinese President Xi at the WEF

Biggest (FX) Mover @ (07:30 GMT) CADCHF (+0.51%) Recovered from Fridays test to 81.40, back over 20Hr MA today up to test 50hr & R1 at 81.75, R2 just north of 82.00. Fast MAs aligned and trending higher, RSI 51 but rising, MACD histogram & signal line aligned higher but remain south of 0 line from Fridays fall, Stochastics moving down from OB. H1 ATR 0.0780, Daily ATR 0.5180.

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Stuart Cowell

Head Market Analyst

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