Daily News – 17 Feb 2020

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By: Andria Pichidi

US and Canada holiday today – Risk-off weekend – USD Index steady close to 99.00
Japan’s economy corrected sharply in Q4 – signaling recession risk (weak GDP) – Nikkei down 0.7%
China: the pledge of additional stimulus measures – Shanghai Comp rallied 2% and the Hang Seng gained 0.7%. CNY – 0.9821
US equities neutral, EU equities up – Covid- official total affected cases = 70,548
Moody’s lower GDP forecasts for China and global economies – growth forecasts are 0.2% down

AUD – leads but limited upside – Resistance 0.6750-54.
JPY – lifted to 109.84 ,holds 200hr support at 109.80 – PP 109.65, S1 109.58 R1 109.86
USD Index – consolidating around 99 – S1 98.90 R1 99.08
EUR – at PP 1.0839 S1 – 1.0817 & 161.8 Fib extension of the December rally. (1.0800)
GBP – at PP 1.3035, a pullback from 1.3050s. R1 1.3070 S1 1.3010
CAD – drops at S: 1.3230 – pp 1.3250

BTC – decline – day low! Opens at 9656 with a gap – will it manage to cover the gap amid the ongoing risk sentiment – 20-day SMA next Support 9422

Gold – peaked at 1584 Friday – slightly down 1580, R1 1586, S1 1575
Oil – tepid recovery continues trades at 52.00 -. PP 51.90 – R1 52.60, S1 51.50 (50-hour SMA)

TODAY – ECB’s Lane speech

Biggest FX Mover (07:30) GMT so far this week – AUDJPY – (+0.29%) – Breached 20Hr MA & PP on open ran to R1 (73.90) resistance at 74.00 and R2 at 74.12. MA’s, MACD and RSI all supportive of the move.


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