USD moves to 20-year highs (USDIndex 106.34), US Stocks fell 2% on open but closed positively (NASDAQ +1.75%). Global PMI data overall in line. European markets fell 2%+ & Asian markets are negative (Hang Seng -2.38%, Nikkei -1.2%). Yields closed down -2.77%. Oil tanked -8.2% trading under $100, Gold closed under $1765 & BTC rotates at $20k. EUR fell to new 20-year lows with parity in sight. Heavy fighting in Donetsk adds to the sombre mood. UK PM lost two cabinet ministers adding to woes for Johnson and Sterling.
- USDIndex tested 106.55 and remains on Bid at 106.25 now.
- Equities – USA500 closed +6.0 (3831), after a weak day, US500FUTS at 3818 now.
- Yields 10-year yield lower, closed at 2.808% , trades at 2.802% now.
- Oil & Gold had weak sessions – USOil tanked under $100.00 to $97.30 lows, back at $100 now. Gold fell to 1762 earlier, 1768 now.
- Bitcoin continues to trade around $20K, testing $20.1K today.
- FX Markets – EURUSD remains pressured at 1.0260, USDJPY rallied from under 135.00 to 135.80 now. Cable trades at 1.1932 now.
Overnight – German Factory Orders better at 0.1% from -1.8%.
Today – EZ Retail Sales, US ISM Services PMI, FOMC Minutes, Speeches from Fed’s Williams & BoE’s Pill.
Biggest FX Mover @ (06:30 GMT) CADJPY (-0.42%). CAD JPY weaker today. Fell from allied from under 106.00 Tuesday to 103.50 today before recovering. MAs aligning lower, MACD histogram neagtive but flat, RSI 41.00 & rising, H1 ATR 0.291, Daily ATR 1.378.
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Stuart Cowell
Head Market Analyst
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