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Daily Outlook – 27 Juy 2020
By: Stuart Cowell
GOLD hits record high, USD SLUMPS AGAIN today after a poor close on Friday. Increase US-China tensions (the US arrested suspected spy over the weekend) Dems & Republicans cannot agree on the next stimulus package and increases in virus outbreaks (USA, Spain & Vietnam). 100 Days to US Election & TRUMP still lags Biden in key swing states. The massive week ahead – dominated by FOMC and Earnings from Apple, Amazon, Alphabet plus McDonalds, Ford, GM & Pfizer to name but a few.
USDIndex – dipped to 93.76 earlier continues to weaken. Closed Friday 94.18.
EUR – up over 1.1700, 1.1710 (R2 now)
JPY – under 105.45 earlier – trades at 105.50 now
GBP – up over 1.2800 to 1.2830 now. (R3)
AUD – holds over 0.7100 Trades at 0.7130 (R2) –
NZD – biggest mover today at R3 0.6675
CAD – under 1.3400, down to 1.3380
CHF – under 0.9200 trades at 0.9172
BTC – breaks 10,000 trades at 10,200
GOLD – all-time high under (2011 Sept) $1943 earlier –
USOil – holds $41.00 –
USA500 – closed down 20pts on Friday at 3215 – FUTS up at 3225 – above key 3200-level.
Today – German IFO & US Durable Goods,
Biggest (FX) Mover @ (06:30 GMT) NZDUSD (+0.49%) – has rallied today to 0.6678 from 0.6614 lows Friday Breaching 20 and the faster MA’s, all aligned higher RSI (67) moving higher. MACD Histogram and Signal line both moving higher & over 0 from earlier too. MFI into OB zone – H1 ATR 0.0011, Daily ATR 0.0054
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