Equities and Bonds gained

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Daily Outlook – 13 July 2020

By: Stuart Cowell

Equities (+1%) and Bonds gained (yields dropped under 0.60) as Dollar fell into Friday’s close. Asian stock markets (+1%) have started the week on the front foot with a strong AUD leading the way. Gold holds close to 9-year highs ($1805) and OIL pivots at $40.00 ahead of OPEC meeting this week. Virus numbers continue rising (12.6 million) deaths 556,000, Some US states with rising infections have falling death rates, Mexico now has 4th worst infection numbers, after US, Brazil & UK – Big week for econ. data, Central Banks and Company (q2) Earnings

USDIndex – down again – to 96.40 & Fridays low – PP today at 96.62, S1 96.30 & S2 96.00
EUR – fell to test under 1.1300 Friday close- now back to R1 at 1.1330, PP 1.1290
JPY – under 107.00 – now at 106.90 (PP), S1 106.60
GBP – trades at R1 1.2660 – PP 1.2620
AUD – up to R1 – 0.6980 now – PP 0.6945, R2 0.6990
CAD – down to 1.3560 (S1) – S2 1.3540
CHF – brief breach of 0.9400 (PP) Friday – now at 0.9393. S1 0.9380
BTC – – PP $9,160 – trades at $9220

GOLD – holds at over PP 1800. Trades at R1 1806, s1 1752
USOil – Holds $40.00 from $38.65 lows on Friday – PP 39.90, r1 41.36
USA500 – closed at 3185 +33 & +1.05% -. FUTS up at 3204.

Today – BOE’s Bailey – more stimulus & a view on negative interest rates?

Biggest (FX) Mover @ (06:30 GMT) AUDUSD (+0.46%) –Over and holds 20 & 50 MA. Moved beyond R1 at 0.6968. Faster MA’s aligned higher; Stochs & RSI moving higher. MACD Histogram and Signal line both moving higher & over 0, from 05:00. H1 ATR 0.0009, Daily ATR 0.0067.


Risk Warning: Trading-Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investment objectives and level of experience, before trading, and if necessary, seek independent advice.

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