Market News Today
Equities (Nasdaq +0.95%) & BTC (+20%, $47k+) rally to new all-time highs & USD loses more momentum (USDIndex 90.65). USOil rallies to 13-month highs ($58.50), Gold up to $1840 and US 10-yr Yields at 1.16%. Details of US stimulus package show unemployment insurance will run until August 29th, & $1,400 cheques at the same income level as prior round but will reduce when income hits 75K. EU will follow Australia and get tech firms to pay for news (FT). Walt Disney & Gen. Motors up over 4.5% ahead of Earnings this week. Overnight – improved data from JPY, inflation increasing in NZD, and UK retail sales and German trade balance tick higher.
Today – German trade balance, US NFIB Business Optimism, EIA STEO, ECB’s Lane, Fed’s Bullard, Earnings – Twitter, Cisco & Total.
Biggest (FX) Mover @ (07:30 GMT) NZDUSD (+0.40%) Continued Friday’s rally from 0.7135 lows and break of 20 MA yesterday at 0.7200 to test R1 today at 0.7245. Faster MAs aligned and trending higher, RSI 63 & rising, MACD histogram & signal line aligned higher & significantly over 0 line, Stochs. falling from OB zone after R1 breach, MFI remains in OB zone. H1 ATR 0.0009, Daily ATR 0.0064.
Click here to access the HotForex Economic Calendar
Stuart Cowell
Head Market Analyst
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
