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Daily News – 2 April 2020
By: Stuart Cowell
Good Morning – Strong start to Q2 for USD – holds gains overnight. Equities sink in US & Asia and Treasuries gain after TRUMP acknowledges the seriousness of the situation (100k-240k US citizens could die) & considers banning domestic flights. New York & London new epicenters.
USD Index – holds over 99.45 PP at 99.63 R1 100.00
EUR – continues to trend lower – 1.0946 (PP @10965) S1 10890
JPY – recovered from 107.00 yesterday to PP @107.25 – S1 106.60 – R1 107.70
GBP – testing 1.2400 again – PP at 1.2390 – R1 1.2458, S1 1.2335
AUD – under pp (0.6100) to trade at 200hr MA support 0.6070. R1 0.6160, S1 0.6012.
NZD – trades at 00.5925 pp & 200hr MA
CAD – under PP & 200hr MA (1.4175) trades at 1.4135 – S1 1.4096
CHF – capped at r1 0.9700 support at 200hr MA & PP 0.9650
USA500 – down 4.4% on close (-114pts to 2470)
FUTS trade up at PP 2490. 28th day below 20 days moving average.
BTC trades@ 6,600 up from 6200 yesterday
GOLD – touched 1575 (50 fib level) yesterday, rallied to 1600, now back to 1586 & PP. s1 1572, R1 1601
USOil – 5 times under $20.00 yesterday – trades now 21.70 – SA talks of stabilization but continues to calls out Russia in the continuing war of words and production.
TODAY – ALL about those weekly claims again after the BOOM of last week another record-breaking 3.7 million expected this week. (Reuter’s poll ranges as high as 5 million) other data includes CHF CPI, Challenger Job Cuts (!) CAD Trade Balance & US Factory Orders.
Biggest (FX) Mover @ (06:00 GMT) CADCHF (+0.80%) –Rallied from lows yesterday at 0.6770 and breached 200HR MA & 0.6800 on open today. R1 (0.6839) also broken earlier. Other MA’s remain aligned higher, RSI (68 and rising, MACD histogram signal line rising breached 0-line on open, Stochastics testing OB. – H1 ATR 0.0014, Daily ATR 0.0111.
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