Daily News – 13 Feb 2020

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By: Stuart Cowell

RISK OFF – Covid-19 hogs the headlines again – 242 deaths yesterday – twice the previous day – & 14,820 new cases just in Hubai where 2 officials were sacked as how the virus is detected is changed.

USD Index – up again after Tuesday’s dip – 98.88, as 99.00 calls
EUR – plumbed to 2017 lows – 1.0864 – trades at 1.0870. PP 1.0888, S1 1.0849. (7 of last 8 days big down candles)
JPY – Gave up 110.00 as Covid-19 news broke – back to 109.75 and under S1 – 200hr next support at 1.0965 – s2 109.60
GBP – rallied to 1.2990 yesterday – back to 1.2950 now – S1 1.2940 – Johnson to reshuffle his cabinet today
AUD – down from 0.6750 to S1 at 0.6715
CAD – fell to 1.3240 recovered pp (1.3260) next Resistance 1.3270
NZD – lost yesterday’s gloss – back under PP at 0.6450, S1 0.6415

BTC – up again 3rd consecutive day north of 10k – $10,400

GOLD – catches the Covid bid – trades at 1575 & over R2 – R3 1578
OIL – spiked to 51.95 post Inventories yesterday (7.5m build vs 3.1 expected) – Covid collapse back to pp at 51.15

Equities – Another record high on close (Covid was “fixed” yesterday) up 21 at 3379 – FUTs down to day 3365 – Nikkei closed down 0.14%

TODAY – CPI from EUR and US later, Weekly Claims & Alibaba report Earnings before NY open

Biggest (FX) Move overnight @ (07:30 GMT) AUDJPY (-0.50%) – Collapsed from 74.28 highs yesterday, under 74.00 & S1 and into 200hr MA at 73.74. Recovered S1 (73.80) now, S2 73.45. MA aligned lower, RSI (42) neutral & Stochastics still weak.


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