Daily News – 22 Jan 2020

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By: Stuart Cowell

Good Morning – Coronavirus focuses minds – China confirmed 9 deaths and 440 infections – but have acted swiftly – Asian FX and Markets pause their slide. –

USD Index – capped at 97.41 – big daily resistance at 97.50 – PP 97.27 – Trades at 97.39
EUR– 5th day down – trades at 1.1080 – Key Daily Fib level. – PP 1.1093, S1 1.1070
JPY – up from low 109.75 last night – recovers 110.00 – R1 110.12
GBP – Intra-day support 1.3040 holding trades over 1.3050 – R1 1.3090
AUD – slides again 7th day lower (down over 2.25% since Jan 1) – trades at 0.6840 – S1 0.6830
CAD – Rallied thru R1 to 1.3090 – back to 1.3080 – support 1.3075

GOLD – back down to 1550 support – from 1568 high yesterday. PP up to 1558
Oil – back down to $58.00 from 58.80 (IEA said cud be 1 million barrel a day surplus in H120) – Libya disruption still supports prices – Weekly Inventories tomorrow not today.

Equities – down 8pts into close 3320 – Futs up at 3334 – Netflix – big beat estimates (earnings $1.3 vs 0.51 & subscribers – 8.76 million vs 7.7 ) – stock was up 2.25 and then down 2% in after-hours trading

TODAY – BOC tops the shop with Interest statement & press conference – On Change but Outlook will be key – Before that PSNB from the UK, CPI from CAD and US Existing Home Sales

Biggest (FX) Mover overnight @ (07:30 GMT) GBPNZD (-0.21%) – Follow through buying from yesterday – breach of 1.97 and now 1.98. Moving Averages, RSI and Stochastics remain supportive. Resistance 1.9830


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