AUD: AUDUSD Continues Recovery But Trend Remains Bearish
Feb-05 21:10
Aussie was one of the better G10 performers on Wednesday helped by a better risk tone. AUDUSD rose 0...
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ASIA: Coming Up In Asia Pac Markets On Tuesday
Jan-06 21:05
| 2350GMT | 0750HKT | 1050AEDT | Japan Dec Monetary Base |
| 0001GMT | 0801HKT | 1101AEDT | UK Dec BRC Sale Y/Y |
| 0030GMT | 0830HKT | 1130AEDT | Australia Nov Building Approvals |
| 0335GMT | 1135HKT | 1435AEDT | Japan 10yr Debt Sale |
USDCAD TECHS: Uptrend Remains Intact
Jan-06 20:48
- RES 4: 1.4678 2.0% 10-dma envelope
- RES 3: 1.4539 3.382 proj of the Oct 17 - Nov 1 - 6 price swing
- RES 2: 1.4508 3.236 proj of the Oct 17 - Nov 1 - 6 price swing
- RES 1: 1.4467 High Dec 19
- PRICE: 1.4332 @ 20:46 GMT Jan 6
- SUP 1: 1.4320/4280 20-day EMA / Low Jan 6
- SUP 2: 1.4232 Low Dec 17
- SUP 3: 1.4136 50-day EMA
- SUP 4: 1.4011 Low Dec 5
USDCAD traded lower Monday. The trend set-up remains bullish and a move down appears corrective. The latest pause in the uptrend appears to be a flag formation - a bullish continuation signal. Note too that MA studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 1.4508 next, a Fibonacci projection level. 1.4320, the 20-day EMA, has been pierced. A clear break of the EMA would open 1.4136, the 50-day EMA.
US TSYS: Early Market Swings on Universal Tariff Story Denied by Trump
Jan-06 20:42
- Treasuries look to finish mostly lower, curves steeper (2s10s climbing to new 3Y high of 37.004) with the short end outperforming.
- Early market swings tied to a Washington Post article reporting the Trump admin was "exploring plans" to apply tariffs to every country “but only cover critical imports”. The report suggests that Trump’s initial tariff plan may track relatively closely with the Biden administration’s targeted tariffs.
- Both rates and equities surged higher on the article - until Trump denied the watered down approach - with Treasuries reversing course and extending lows by midmorning. Stocks walked back support more gradually, near lows in lat etrade.
- Record corporate debt issuance for a single session climbed over $50B, rate lock hedging added additional pressure to rates.
- Tuesday Data Calendar includes JOLTS, ISM Services and Tsy 10Y Re-Open.
