FX – USDIndex declined under 103.00, touched 103.20 ahead off debt talks and is at 103.15 now. EUR tested into 1.0830 and pivots around 1.0800 now. JPY breached over 138.50, topped at 138.85 (high from November 2022) and holds back at 138.50 now. Sterling collapsed to test 1.2400 again, is capped at 1.2450 and trades at 1.2425 now.
Stocks – US markets closed very mixed (-0.42% to +0.65%). FL -8.54 after losing 24% on Friday, Nike -4.00%, PFE +5.38%, TSLA +4.85% ZM +2.94% (rallied +5% after hours with a Revenue beat and increased Sales forecasts – back to +1.18% after market closed). US500 closed +1.00pt, 4192, FUTS are trading at 4208, above the key resistance at 4175.
Commodities – USOil – Futures tested down to $70.70 again yesterday but hold over $72.20 now. Gold – could not hold the $1975 level and trades at $1962 with key support at the $1950 zone.
Cryptocurrencies – BTC bounced from $26.5k lows from Thursday & Monday and pushed to test $27.5k (21-day EMA) earlier.
Today – US, UK & EZ PMIs (Flash), US Home-Sales, Speeches from Fed’s Logan, ECB’s de Guindos, Nagel, Villeroy & Enria, BoE’s Bailey, Pill, Tenreyro & Mann. Earnings – Lowes.
Biggest Mover @ (06:30 GMT) BTCUSD (+2.12%). From Monday’s test of 26,500 lows the pair is once again testing 27,500 MA’s aligned higher, MACD histogram & signal line positive & rising, RSI 74.51, OB & flat, H1 ATR 127.18, Daily ATR 1030.45.
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Stuart Cowell
Head Market Analyst
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