FX Update – January 11 – USD 4th day higher

2021-01-11 21:07    HotForex

FX News Today

USD continues to bounce, JPY, AUD & NZD weaken, Yields up as virus worries escalate and China pushes back on US sanctions and reacts to US normalizing relations with Taiwan. Plus, Speaker Pelosi’s plans to impeach President Trump if the cabinet doesn’t act to remove him. Equities closed at new ATHs on Friday, despite big miss for NFP. Asian markets mixed (Japan closed today) Gold, Bitcoin and Oil all down sharply. Overnight – Chinese inflation better than expected and Aussie Retail Sales in line at a perky 7%.

This week – US Retail Sales and Inflation (CPI & PPI), UK GDP, lots of Central bankers speaking topped by Powell on Thursday.

USDIndex – 4th day higher from 33-mth low (89.15) and back over 90.00 – trades at 90.31 – PP 89.90 – Touching a 19-day high earlier.

EUR – 3rd day lower trades under 1.2200 – 1.2165 earlier, for a 17-day low, back to 1.2185 now– PP – 1.2235

FX Update – January 11 – USD 4th day higher Institution Opinions                                           

 JPY – 4th day higherbreached n holds 104.00 – Trades at 104.12 (R1) , close to one-month highs  PP 103.87 

GBP – down under 1.3500 this morning – testing S2 at 1.3480 PP 1.3580    

AUD – Back down to trade at 0.7700 (s2) – PP 0.7760                                                NZD – slips under 0.7200 this morning – PP 0.7240, trades at 0.7185                         CAD – breaches and holds over 1.2700 (PP) – moving higher on weaker Oil prices – trades at 1.2765 (R2)                                                                                                 CHF – Trades at R1 around 0.8885 – up from 3 yr lows on Wednesday at 0.8757. PP 0.8850  

BTC – Parabolic bazooka boom continued Friday to new ATHs over $41,800 – rapidly retraced to day – Back” under $35,000.

GOLD – Big faller (1920-1830) on Friday, Trades at 1850 now, PP 1875                         USOil – $52.70 high Friday  – trades at $51.50 (PP) nowstill elevated

USA500 – Closed up 20 (+0.55%) 3824 – USA500 FUTS now at 3803. 46 days north of 20SMA (3722).

Today – EZ Sentix Index, BoE’s Tenreyro, ECB’s Lagarde, Fed’s Bostic, Kaplan.

Biggest (FX) Mover @ (07:30 GMT) AUDUSD (-0.65%) Continued Friday’s decline on open, moved down from PP, now under 200Hr MA to pivot at 0.7700. S2 0.7690. Slow & Fast MAs aligned and trending lower, RSI 35 and falling, MACD histogram & signal line aligned lower, significant break of 0 line this morning, Stochastics rising from OS zone. H1 ATR 0.0018, Daily ATR 0.0082.


Stuart Cowell

Head Market Analyst

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