Risk-Off rotates in

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Daily News – 13 April 2020

By: Stuart Cowell

JPY on bid USD softer – AUD & NZD weaker, OPEC+ deal done Oil moves up 3% but market not convinced. Equities weaker (Nikkei down 2%) and FUTS also lower (v low volumes).

No market-moving news today – Europe closed. The US opens after a long weekend.

COVID-19 cases now topped 1.8 million globally, over 500k in the US (22k deaths). China reported 108 new cases on Sunday – the highest daily total in weeks. South Korea at 7 weeks low and Germany at 3 week low. UK PM Johnson has left the hospital but not back to work.

USD Index – down to 99.36, pp 99.70 S1 99.00 EUR – at pp 1.0935 – R1 1.0950, S1 1.0920
JPY – down (over 60 pips) back under 108.00 – 107.82 below S3, next support 107.65 (Iran fired missiles at US bases in Iraq)
GBP breaches R2 & 1.2500 – R3 1.2520
AUD – holds at pp 0.6345
CAD – down 1.3940, S1 1.3930, PP 1.3970
BTC – down at 6700

USA500 – FUTS down 2756 – Thursday cash close 2790

Gold – consolidates Thursday’s gains at 1686, pp 1672, R1 1700
USOil – spiked to 24.50 on open – down now to 23.50, PP 24.70, S1 21.00

Today – Europe closed for Easter Monday – China and Japan now closed. No market-moving news is due from the US later after a long weekend.

Biggest (FX) Mover @ (06:30 GMT) GBPUSD (+0.56%) – Big move over key 1.2500 (PM released from Hospital) Fast MA’s aligned higher, RSI (72 and moves into OB zone) MACD histogram & signal line tick higher holding above 0-line, Stochastics in OB zone. – H1 ATR 0.0016, Daily ATR 0.0191. Low volumes and London markets closed today.


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