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By: Stuart Cowell
Good Morning – Markets on standby for Trade Deal signing later. Rumors of $165 bln goods and services from China and the US to keep Tariffs in place until Phase 2 done (or at least until after Election). Equities closed down 2 pts, Gold & YEN recovered (Kuroda said he will not hesitate to act) GBP stopped falling and BTC closed over its 200MA for the first time since November.
USD Index – down from R1 highs at 97.25 yesterday to S1 at 97.05 today
EUR – Up from lows at 1.1100 to 1.1135 – PP at 1.1125 R1 1.1145
JPY – Held 110.00 most of yesterday to give it up at the close. Tested S1 at 109.84 overnight. PP sits at key 110.00
GBP – Recovered back over 1.3000 pp yesterday, capped by R1 & 200 MA at 1.3055. Trades at 1.3030
AUD – still holds pp at 0.6900 – R1 0.6910 S1 0.6888
CAD – Trades at 1.3060 – Capped at 1.3075 and R1 pp 1.3060 s1 and 200MA 1.3045
GOLD recovered to 1550 and R1 from yesterday’s sell-off to 1538 – PP 1540 – R2 1555. S1 1535
OIL – Bounced off 57.80 low yesterday – hangs to $58.00. PP 58.25 R1 58.85
Equities – down 2pts on close at 3283 – FUTS flat at 3282. JP Morgan reported record earnings, Citi numbers were upbeat – Wells Fargo missed expectations significantly.
TODAY – UK CPI, NY Fed Manufacturing, US PPI, US & China Phase One Deal Signing, OPEC Monthly Report, Lots of Central Bank speakers too ECB’s Holzman, BoE’s Saunders, Cunliffe, Fed’s Harker, And Earnings from Goldman Sachs & Bank of America
Biggest (FX) Mover overnight @ (09:00 GMT) GBPAUD (+0.18%) Strong rally from lows of 1.8765 yesterday to test 1.8900 this morning. Moving Averages, RSI & Stochastics remain supportive.
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