GLOBAL: Equities Extend Lows amid Reports on Tighter Curbs on Nvidia Chip Sales
Jan-29 18:15
- "Trump Officials Discuss Tighter Curbs on Nvidia China Sales" (BBG)
- From the Bloomberg report: “Trump administration officials are exploring additional curbs on the sale of Nvidia Corp. chips to China, according to people familiar with the matter, who emphasized that conversations are in very early stages as the new team works through policy priorities.”
- The latest headline contributing to stocks gapping to new session lows: S&P E-Mini futures down 46.25 points (-0.76%) at 6051.25 and the Nasdaq down 236.4 points (-1.2%) at 19500.08. In most recent trade, major indices appear to be stabilising with the FOMC decision in sight.
- Nvidia has argued that restrictions will hurt US companies and reinforce China's determination to become independent of US technology.
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FED: US TSY 42D AUCTION: HIGH RATE 4.270%; 13.25% AT HIGH
Dec-30 18:02
- US TSY 42D AUCTION: HIGH RATE 4.270%; 13.25% AT HIGH
- US TSY 42D BILL AUCTION: DEALERS TAKE 23.87% OF COMPETITIVES
- US TSY 42D BILL AUCTION: DIRECTS TAKE 3.75% OF COMPETITIVES
- US TSY 42D BILL AUCTION: INDIRECTS TAKE 72.39% OF COMPETITIVES
- US TSY 42D AUCTION: BID/COVER 2.93
EURUSD TECHS: Trend Condition Remains Bearish
Dec-30 18:00
- RES 4: 1.0825 High Nov 7
- RES 3: 1.0630 High Dec 06
- RES 2: 1.0589 50-day EMA
- RES 1: 1.0467/0534 20-day EMA / High Dec 17
- PRICE: 1.0381 @ 16:02 GMT Dec 30
- SUP 1: 1.0343 Low Dec 20
- SUP 2: 1.0335 Low Nov 22 and the bear trigger
- SUP 3: 1.0311 1.382 proj of the Sep 25 - Oct 23 - Nov 5 price swing
- SUP 4: 1.0258 1.500 proj of the Sep 25 - Oct 23 - Nov 5 price swing
EURUSD traded lower into the Monday close, but the pair remains above its recent lows for now. A bearish condition highlights scope for a test of key support at 1.0335, the Nov 22 low and a bear trigger. Clearance of this level would confirm a resumption of downtrend and open 1.0311, a Fibonacci projection. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. Initial firm resistance is at 1.0467, the 20-day EMA.
FED: US TSY 42D AUCTION: NON-COMP BIDS $206 MLN FROM $75.000 BLN TOTAL
Dec-30 17:45
- US TSY 42D AUCTION: NON-COMP BIDS $206 MLN FROM $75.000 BLN TOTAL
