Daily Outlook – 9 June 2020

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By: Stuart Cowell

USD slips again, JPY gets a bid, and Equities remain in demand. (Nasdaq at an all-time high on close) Gold clings to $1700 and USOil cools from $40.00 rally. German & French Trade balance weak, surprises boost for UK Retail sales demand.

USD index – rallied to 97.00 yesterday, only to fall again PP 96.75. Friday (60-day) low 96.40 S1
EUR – testing 1.1300 now, (PP), 1.1320, S1 1.1268
JPY – bid again, after yesterday’s rally below (108.00), from Fridays 109.80. PP 108.75 S1 107.90
GBP – holds over 1.2700 down from 1.2753 highs (PP at 1.2690) R1 1.2760, S1 1.2655.
AUD dips below 0.7000 (pp) tested S1 0.6970, S2 0.6935
NZD – holds over 0.6500 down from 0.6586 (R1) pp 0.6545, s1 0.6525
CAD – 1.3355 low yesterday – back to 1.3400 now – R1 1.3420. PP 1.3390
CHF – below 0.9600 channel floor at 0.9580

BTC – back to under PP at 9700, (9655) – a volatile hour earlier 9860 (R2) to 9535 (R2)

GOLD – capped by 1700, so far today – Fridays low (1670) PP 1692, R1 1706, 200hr MA 1710
USOil – rallied to $40.00 yesterday (gap filled) on OPEC+ meeting and equity rally. Now 38.50, PP 39.00 and S1 37.35
USA500 – Closed (+38pts, 1.2%) 3232-. FUTS 3223 now – PP 3220 – Nasdaq closed at all-time high, Dow up 1.7%.

Today -, EuroZone employment & GDP, JOLTS from the US and Wholesale Inventories

Biggest (FX) Mover @ (06:30 GMT) AUDJPY (-1..30%) – fell from key 76.75 yesterday to 76.00 at close – down again today to 75.00. Fast MA aligned lower, Stochs & RSI (28) OB. MACD Histogram and Signal line both moving lower. H1 ATR 0.2444, Daily ATR 1.13.


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