Daily News – 27 Jan 2020

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By: Stuart Cowell

Good Morning – BIG week ALL sorts going on – Opportunities abound. – BUT we start RISK OFF – USDJPY (-0.55%) GOLD trades at 1580.

1. FED & BOE (no change from either – but will the BOE cut?)

2. HUGE week for Earnings (Apple, Amazon, Facebook Tesla, MS, Chevron, McDonald’s + more

3. Brexit official happens – 23:00 GMT 31/1

4. Coronavirus – 80 dead, 2700 infections – Patients contagious prior to displaying signs of illness. Chinese New Year extended to Feb 2

5. Usual Month-end balancing/positioning

USD Index – holds its safe haven bid – 97.66 – R1 97.75

EUR – up from 1.1018 low Friday – 1.1025 – PP 1.1035 S1 1.1008

JPY – Gapped at open – low – 108.72 – Back to S1 – 109.00

GBP – down but holds 1.3050 – trades at 1.3060 – S1 1.3028

AUD – Back under S1 & 0.6800 – trades at 0.6796 – S2 0.6790

CAD – Up over R1 trades at 1.3165 – R2 1.3172

CHF – holds over 0.9700 at 9710 and NZD down again under S2 0.6570

GOLD – Holds Friday’s rally and gaps at open to $1588 – trades at $1580 and R1. R2 1587

OIL – sinks further & gaps at open (3.5 mth low) at $52.12 – recovered to 52.90 – S2 52.50

Equities – lost 30 pts (-0.9%) on Friday closed at 3295 – FUTs down again trades at 3262. Nikkei just closed down over 2%.

TODAY – German IFO Business Climate, US New Home Sales and a speech from Williams

Biggest (FX) Mover to start the week @ (07:00 GMT) AUDJPY(-0.56%) – Gapped at Open under 74.00 to touch S2 at 73.96. Moving Averages, RSI & Stochastics all weak.


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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