Daily News – 10 March 2020

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This post is also available in: فارسی (Persian)

 

By: Stuart Cowell

Good Morning – Trump talks tax cuts, Abe leans on BOJ. Prospect of MORE stimulus creates relief bounce for Equities and Bond Yields. JPY CHF & Gold weaker – Big 7% retrace for OIL (Bloomberg reports – some Saudi customers increasing orders by 50%). Chinese CPI & PPI in line with expectations All of Italy now in lockdown – only 19 new COVID cases in mainland China.

USD-Index – fell to 94.60 yesterday – recovered to 95.75 now. 96.00 key resistance. Daily PP 95.15

EUR – 1.1495 peaks 9/3 – down to S1 at 1.1365 now – S2 1.1275, PP 1.1425

JPY – 101.15 low yesterday – recovered to test the KEY 105.00 today – trades at 104.50 (R1). PP 102.60, R2 106.00

GBP – spiked to 1.3200 9/3. Back to test S1 now at 1.3020 – PP 1.3110, S2 1.2950

AUD – lows of 0.6308 yesterday – rallied over 0.66500 – back down to 0.6550 now. PP 0.6520.

CAD – holds PP at 1.3650, CHF recovered from 0.9180 to 0.9350 – R2 0.9400

BTC – collapsed to 7600 lows 9/3 – remains capped by 8,000

GOLD – 1702 highs yesterday – down to S1 and 200hr MA at 1654. S2 1635, PP 1675 OIL – $27.34 lows yesterday – recovered to $33.25. PP 32.00, S1 $29.40 R1 $37.00

EQUITIES – biggest single-day rout since 2008 – Closed down 7.6% (-225 pts, DOW off some 2,000 pts and 7.8%) – Closed at 2746. FUTS trade up at 2845

TODAY – EU – GDP, Industrial Production and Employment data

Biggest (FX) Mover @ (07:00 GMT) CADJPY Bounces back (+2.86%) –Yesterdays biggest loser (-3.96%) recovers some lost ground. Back over 75.00 & 76.00, moved higher on open today to breach PP & MA’s; RSI (60) & MACD histogram moving higher, Stochastics holds at highs testing OB zone. MA’s aligned and sloping higher. – H1 ATR 0.4380, Daily ATR 1.4775.


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