Daily News – 31 March 2020


This post is also available in: فارسی (Persian)


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.

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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