USD & Equities mixed

0

This post is also available in: فارسی (Persian)

Daily Outlook – 11 Aug 2020

By: Stuart Cowell

USD & Equities mixed but biased higher, AUD & NZD in demand, JPY, Gold & Bonds slip (10yr yield up to 0.58) – a bit of a Risk on Tuesday? US stimulus package coming?? Yesterday – JOLTS better than expected, Big rise in Chinese car sales, overnight – Singapore’s Q2 GDP fell -42.9% (inline), positive UK retail sales and better than expected JPY data all added to the risk-on mood. Nikkei closed +1.9%.

The UK just reported the biggest fall in employment in over 10 years (-220,000) rest of the data is mixed bcoz of the furlough scheme.

USD index – rallied to 4-day high 93.70 – now back to PP 93.50 – R1 93.75
EUR – down to 1.1720 earlier – – now back to S1 at 1.1740 – S2 1.1710, PP 7 20Hr MA 1.1775
JPY – 106.17 high earlier – now back to 105.12 and over R1. R2 7 Upper BB 106.35. PP 105.90
GBP – tested 1.3100 yesterday – now – 1.3070 & PP. R1 1.3125, S1 1.3038
AUD – 0.7185 (r1) earlier – now – 0.7160 and PP – S1 0.7140,
NZD trades down at 0.6600 (RBNZ report tomorrow)
CAD – tested 1.3320 (S1) earlier – now 1.334 – PP 1.3360 – r1 1.3380
CHF – 0.9185 yesterday – now 0.9150 (PP) – r1 0.9175 s1 0.9115
BTC – back below brief break of 12,000 trades at 11,750 9PP) now. S1 11,500, R1 12,150

GOLD – Under 2000, (200hr & S2 currently at 1998). PP 2035, S1 2020, S3 1990.
USOil – rallied to $42.45 – post-Aramco outlook yesterday. Back to 42.00 now PP 41.80

USA500 – closed flat +9 (+0.27%) at 3360 – FUTS at 3365 – Feb all-time high 3393

Today – Eurozone ZEW Econ. The sentiment, US PPI

Biggest (FX) Mover @ (06:30 GMT) NZDJPY (+0.42%) – Breached over 20, 50 & 200 MA on strong Asian session. The faster MA’s aligned higher already hit R3. RSI (59 & falling). MACD Histogram and Signal line both moving higher and over 0-line earlier too. Stoch OB & moving lower – H1 ATR 0.0981, Daily ATR 0.6066.


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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here