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.

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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