The American dollar continues under pressure (USDIndex 100.88) saw after a monumental week FED and ECB increased by 25 basis points (could this be the last of the FED?), another OUR bank failureand job report beat(253k vs. 181k) and better than expected earnings, especially from the biggest of all companies – Apple. Stocks rallied on Friday and continued today in Asia, with yields once again cooling AUD and NZD exceeding. Great Britain and France are closed on a quiet data day. Berkshire Hathaway reported a profit of $35.5 billion
A week in advance On top US CPI data (Wednesday) a BOE rate Decision (Thursday).
- FX–USDIndex continue biased lower, from 101.50 highs on Friday back to test last week’s support in 100.88, euros tested 1.0970 lows on Friday but recovered 1.1000 trade on 1.1033 Now. JPY collected from 134.00, violated 135.00 but trades on 134.70 Now. Sterling holding above the key break 1.2500 violated last week 1.2600 on Friday and is being tested 1.2650 Now.
- Stocks-US markets closed strongly (+1.65% to 2.25%) (#APPL +4.69%%, #TSLA +5.50%) – 500 USD closed +1.65% 4136, FUTS are traded for 4147 today and still below key resistance at 4175 & 4150.
- Commodities – USOIL – Futures hold Friday’s gains and trade for $71.70 as recession fears continue to swirl, but since breaking the 18-month low at $64.00 last week. Gold – tested back to 2000 dollars on Friday, but it’s over 2020$ Now.
- Cryptocurrencies – BTC has fallen more than 5% from Friday’s highs 29.6 thousand dollars test 28.0 thousand dollars one more time, today.
Today – German industrial output (missing -3.4% vs +2.1%), EZ Sentix, Fed Senior Loan Officer Survey, NY SCE, ECB Survey of Monetary Analysts, Lane ECB speech, earnings from PayPal.
The biggest FX Mover @ (06:30 GMT) AUDUSD (+0.29%). The gain from Friday’s rally continued from 0.6700 to 0.6780 Now. MA aligned higher, MACD histogram and signal line positive but flat, RSI 72.45, OB but also flat, H1 ATR 0.00096 Daily ATR 0.00621.
Click here to access our economic calendar
Stuart Cowell
Chief Market Analyst
Disclaimer: This material is provided as general marketing communication for informational purposes only and does not constitute independent investment research. Nothing in this communication contains or should be considered to contain investment advice or an investment recommendation or a solicitation to buy or sell any financial instrument. All information provided is collected from reputable sources and any information containing an indication of past performance is not a guarantee or a reliable indicator of future performance. Users acknowledge that any investment in leveraged products is characterized by a degree of uncertainty and that any investment of this nature involves a high level of risk for which users are solely responsible and liable. We shall not be liable for any loss arising from any investment made based on the information provided in this communication. This communication may not be reproduced or redistributed without our prior written consent.
