Market News Today – USD remains weak (USDIndex down to 90.27). Equities all closed higher (US100 Biggest gainer up 2.32%), 457 of USA500 have reported earnings 87% have beat expectations. Futs softer today. Commodities tear continues GOLD breaks $1850. 10-yr Yields slip with USD to 1.62% from 1.70% last week. BTC bombed 12% – before recovering, Musk suggested Tesla selling some or all of ($1.5b) investment (later denied). Asian markets mixed on mixed Chinese data, (Retail Sales missed significantly, Ind. Output in line, Unemployment improved.)
EUR – down a tad to 1.2135, JPY holds over 109.00 down to 109.20, Cable holds over 1.4100 AUD holds 0.7760, and CAD holds 1.2100
USOIL back over $65 from lows at $63 on Thursday Gold – rallied to 3 mth high $1855 Commodities remain robust. BTC down to test under $42,000 , now back to $44,000 now.
European Open – Futures are also mixed, with U.S. indices in the red, while DAX and FTSE 100 futures are both up 0.1%. The U.K. is taking another step towards a full re-opening of the economy today, but against the background of warnings of caution against the background of new virus variants. In the Eurozone, restrictions vary considerably across countries, with some already at the level of openness that the U.K. is now going back to. In FX markets both EUR and GBP eased against a largely stronger dollar, earlier only to improve as the session opened. Data releases today remain thin on the ground, with only the final reading for Italian HICP numbers of note.
Today – US NY Fed Manufacturing, BoE’s Haldane, Vlieghe, Tenreyro, Fed’s Bostic, Clarida, Kaplan Earnings from RyanAir & Advanced Auto Parts
Biggest (FX) Mover @ (07:30 GMT) XXXXX (+0.34%) rallied from 7-day lows below 1.7830 yesterday to test PP at 1.7900 today. Faster MAs remain aligned higher, RSI 53 & moving higher, MACD histogram & signal line aligned higher but under 0 line. Stochs rising to test OB zone. H1 ATR 0.0016, Daily ATR 0.0117.
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Stuart Cowell
Head Market Analyst
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