Daily news – 25 Feb 2020

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This post is also available in: فارسی (Persian)

 

By: Stuart Cowell

Good Morning – Equities tanked 3.35%, Monday – and bounce a tad Tuesday. JPY CHF, USD, and GOLD all benefited yesterday. – A bounce back in FUTS today and Gold collapsed from 1688 ($3.5 billion on offer) took it down to 1635. Covid-19 appears to be retreating in Chinese regions outside of Hubei – but yet to peak globally – Italy & South Korea remain the current focus. The USA has 35 confirmed cases.
German Q4 GDP was confirmed at 0.0% q/q.

USD Index – back to PP at 99.25 – hi yesterday 99.55 low overnight – 99.00. S1 98.90 – R1 99.45
EUR – hi yesterday 1.0871, low PP at 1.0843- S1 1.0815 – R1 1.0881 – Trades at 1.0850
JPY – lows of 110.35. Trades at PP 110.90 – S1 110.00 R1 111.50
GBP – 1.2885 (S1) low yesterday – recovered to 1.2940 – pp at 1.2920 R1 & 200hr MA 1.2955.
AUD – recovered from 11 year low (0.6585) holds over 0.6600 – capped at R1 0.6620 PP 0.6600. Trades at 0.6615
CAD – breached 1.3300 again yesterday – back to pp at 1.3285 now.

Gold – 1688 7 yr high yesterday – down to 1635 overnight – trades at 1642 (s1) now. s2 1625, PP 1665.
OIl – lows of 50.50 yesterday – recovered to test $52.00 today. PP 51.50 R1 52.50
Equities – lost 3.35% (111 pts) to 3225 (DOW lost over 1,000 pts and Nasdaq was down 3.71%) – The 26th correction >5% since the March 2009 low. FUTS bounce up to 3255.

TODAY – US Consumer Confidence, Fed’s Clarida, Kaplan, ECB’s de Cos. TRUMP concludes trip to India
(no deal with Modi) and Democrats in a key debate later.

Biggest (FX) Mover @ (08:00 GMT) GBPNZD (+0.23%) – Crossing EMA Strategy triggered higher at 06:00. Breached PP, MA’s remain aligned, RSI 61 and rising MACD rising and testing 0 lines, Stochastics moving into OB zone. H1 ATR 0.0025 daily ATR 0.0160.


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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