Market News – 21 Jan 2020

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By: Stuart Cowell

Good Morning – No Change from BOJ, but a positive spin on growth – JPY gets a bid. – Kuroda Press conference just starting USD weaker but FX pairs in narrow ranges – Asian equities down on Chinese virus contamination n spread – Nikkei just closed down 1%.

USDIndex – touched 97.45 yesterday – down to 97.30. PP 97.35 – S1 97.25
EUR – remains capped by 1.1100 – pp at 1.1090 – trades at 1.1095
JPY – Dropped from 110.20 pre BOJ to below S3 at 109.89- Trades at 109.95
GBP – Recovers back over 1.3000 to trade at 1.3010 – PP 1.2995 – R1 1.3030
AUD – 4th day lower – PP now 0.6875- S1 0.6855 – Trades at 0.6865
CAD – closed under 200MA at 1.3045 – back over pp and testing R1 at 1.3060

Gold – Up over pp at 1560 – Trades at R2 & 1566 post-BoJ, R3 1570
Oil – Closed under $59.00 yesterday. – Down under S1 today at $58.15 – S2 57.80

Equities – Friday closed up 12 at another record for S&P – at 3329 – FUTs trade down today at S3 and 3310

Today – UK – Jobs, Earnings & Unemployment, ZEW from Germany & EZ, Euro finance ministers meet, and the WEF in DAVOS officially kicks off – TRUMP speaks at 10:30 GMT. Later Netflix, Haliburton and Interactive Brokers (amongst many more) report Q4 Earnings

Biggest (FX) Mover overnight @ (07:00 GMT) AUDJPY (-0.31%) – Dips to S2 (Daily 200MA) at 75.35 from Pivot Point and 200MA (H1) at 75.70. RSI and Stochastics approach oversold zone.


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