Equities slipped again


This post is also available in: فارسی (Persian)

Daily Outlook – 15 Oct. 2020

By: Stuart Cowell

Equities slipped again, COVID cases making new records in Europe and “far apart” comments from Mnuchin re the stimulus deal weighs, USD up on safe-haven bid, AUD down on talk of rate cut n bond buying. GBP holds after yesterday’s rally, Today is NOT deadline day for the EU_UK trade deal, Johnson blinked first. GS (big beat) & BoA Earnings better than expected, Wells Fargo missed significantly. Gold holds $1900, USOil up to $41.00. Betfair has Biden at 74% chance and Trump at 33% chance. (=107 ???). TRUMP on a major offensive in key swing states as he pulls up to 47/49 in Florida.

USDIndex – under 93.50, major support at 93.00 – PP now 93.35 – 200MA 93.50

EUR – back under 1.1750. Trades at 1.1745 (PP) now – S1 1.1725, R1 1.1775

JPY – under 105.50 again.; trades at 105.30 (PP), up from 105.30 earlier

GBP – Holds at 1.3000, 1.3070 high yesterday. – PP 1.2978, S1 1.2898, R1 1.3100

AUD – weakest today – on comments from Lowe down to 0.7115. – S2 0.7130, S3 0.7105

NZD – holds over 0.6600 – pivots below 0.6650 –

CAD – off 1.3100 support to 1.3150 CHF – off 0.9100 support to and capped at 0.9150

BTC – pivots around 11,400 now

GOLD – up from 1880 lows yesterday to regain 1900 now.

USOil – Up to $41.00 (over 2% gain) private us inventories fell last week. Official data later today.

USA500 – closed -23 (-0.66%) at 3488, (Wells -6%, BoA -5%) – Futs. now at 3471. 50-day MA 3397

Today – US Import/Export Prices, Initial Jobless Claims & Philadelphia Fed Manufacturing Index, European Council Summit, ECB’s Lagarde, Fed’s Kaplan, Kashkari & Quarles, BoE’s Cunliffe. Earnings – Morgan Stanley

Biggest (FX) Mover @ (06:30 GMT) AUDUSD (-0.27%) – Moved below 200MA yesterday, and 20MA into close. Lowe’s comments weighed heading to S£ and 0.7100?. Fast MA’s still aligned lower, RSI 27 and OS, MACD histogram & signal line aligned lower and well below 0-line. Stochastics in OS zone over 16 hrs. H1 ATR 0.0013 Daily ATR 0.0060.

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.


Please enter your comment!
Please enter your name here