Daily News – 10 Feb 2020

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By: Stuart Cowell

Week 2 February – Week 7 2020 
China back to work but limited numbers. CPI was up significantly at 5.4% YUAN back under 7.00. NovCo Virus dominates early week trades. – 908 deaths (now more than SARS) 40,171 infections. – Risk Off. Week closed with Strong USD and weak Stock markets Gold at $1570 and Oil at $50.35

USD Index – touched 98.60 on open – trades t R1 98.50 – R2 98.62 and pp 98.40
EUR – closed week at 1.0944 now at pp at 1.0955
JPY – closed Friday – 109.72 – now at PP 109.78 – R1 – 110.00
GBP – closed the week – 1.2882 – remains sub 1.2900 now at 1.2890 – PP 1.2908, S1 – 1.2856 – R1 1.2935
AUD – closed 0.6672 – back to 0.6700 on back of Chinese data. PP 0.6694 s1 0.6650 – R1 0.6725
CAD – closed at 1.3305 – down to 1.3295 now – S1 1.3282

Gold – closed key $1570 – rallied to R1 1576 on open, down to 1572 now – PP & 200hr ma – 1568
OIL – closed above$50.00 – (Russia still not on board with 600K+ cuts) – fell to $49.55 on open – now $ 50.23

Equities – closed down 18 at 3327 (Uber up 9.5% _ Tesla closed at $748 (high on Tuesday 965) – up $100 (14.7%) on the week! FUTS pushed down to 3305 on open – trade at 3329 now.

Today – CHF CPI n speeches from Bowman, Harker & Daly

Biggest (FX) Move overnight @ (08:00 GMT) AUDJPY (+0.52%) –Rallied after China CPI data, breaching 20hr MA & PP (73.46). 200hr first resistance.


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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