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By: Stuart Cowell
Last day of Month & Quarter – USD a little firmer, JPY a little softer and some significant last day volatility in other FX pairs. Oil moves off 18-year lows after Donnie & Vlad’s phone call. US Equities were up 3% on close, some Asian markets creep forward, but Nikkei closed down 0.88%.
Chinese PMIs, JPY Industrial Production & Retail Sales and UK Consumer Confidence numbers – ALL beat expectations. American Airlines will ask for $12bln bailout & VW opens 22 of its 24 factories in China. Italian lockdown extended to May 4.
USD Index – holds 99.40 and tests R1 at 99.65, PP 99.00
EUR – down to 1.1013 – (s1 1.0998, PP 1.1060)
JPY – rallied from sub 108.00 n capped at 108.70 at the end of year bid (s2). Now trades at 108.25 (S1) – PP 107.65
GBP – slips from PP 1.2400 to S1 1.2326. S2 1.2250 – also spiked lower earlier to 1.2236
AUD – big volatility from sub S2 at 0.6070 to R1 to test 0.6200. Trades at 0.6195, PP at 0.6154. Similar swings in NZD
CAD – holds over PP (1.4112) trades at 200hr MA 1.4176 – R1 1.4210.
CHF – holds PP at 0.9565 & tests 0.9600. R1 0.9635
BTC – moved to 6600 back to 6420 and 200Hr MA
GOLD – slips under PP at 1622 to trade at 1616. S1 1608.
USOil – traded at an 18 year low yesterday at $19.25, recovered following a telephone call between Trump & Putin. Continued to S2 ($21.70) during the Asian session. Trades 21.25. PP now 20.10 and R1 21.00
TODAY – German PPI & Unemployment, EUR CPI, UK GDP CAD GDP, US Chicago PMI, and CB Consumer Confidence
Biggest (FX) Mover @ (06:30 GMT) GBPAUD (-0.96%) –Following a Tweezer Top at 2.0300 yesterday and a strong breach n break of 20hr MA and PP at 17:00 server time. The pair continues to move lower, breaching 2.0000 earlier. MA’s remain aligned lower, RSI (37 and falling, MACD histogram signal line falling breached 0 on open, Stochastics slightly OS but flat all session. – H1 ATR 0.0078, Daily ATR 0.0480.
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