USD: In the red going into the European session.
Feb-19 07:34
- As noted for multi cross assets overnight and in early trade, it seems that all markets, Govies, Equities, Rates and also FX have all brushed aside the latest Trump Tariffs threat, some desks might look for more concrete expectations.
- The Dollar was down against all G10 overnight, the Kiwi was leading, up 0.44% despite the delivered expected 50bps cut and the RBNZ hinting at more easing.
- Post the EU Cash Govie Open, the picture in G10 is fairly unchanged, the Kiwi is still up 0.39%, and leading within G10s.
- Main upside area of interest is at 0.5750, the February high, and the best printed level since 18th December.
- The USDJPY is seeing another volatile session, but trades within this early Week wide 151.24/152.39 (low/high) range.
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USD: The Dollar trades in the red against G10s
Jan-20 07:32
- The Dollar was trading in the red Overnight against G10s, report on Friday of a Positive Phone call between Trump and Xi Jinpin has eased tensions.
- The Kiwi and the SEK were and still are the best early performer as Europe joins the Session.
- NZDUSD is sup 0.39% but didn't quite managed to break Friday's high at 0.5616, only printed a 0.5614 high, as such, the cross still trades within last Week's ranges.
- The SEK is up 0.35% against the Greenback, but similar to other G10 Currencies, USDSEK is well within Friday's 8 big figures range.
GOLD TECHS: Monitoring Resistance
Jan-20 07:22
- RES 4: $2762.3 - High Nov 1
- RES 3: $2730.4 - 76.4% retracement of the Oct 31 - Nov 14 bear leg
- RES 2: $2726.2 - High Dec 12 and a key short-term resistance
- RES 1: $2724.8 - High Jan 16
- PRICE: $2706.3 @ 07:21 GMT Jan 20
- SUP 1: $2651.2 - 50-day EMA
- SUP 2: $2596.2/2583.6 - Low Dec 30 / 19
- SUP 3: $2564.4 - Low Nov 18
- SUP 4: $2536.9 - Low Nov 14 and a key support
The recent climb in Gold appears corrective - for now. However, the yellow metal continues to hold on to its latest gains and scope is seen for a continuation higher near-term. The stronger recovery exposes $2726.2, the Dec 12 high and an important resistance. Clearance of this level would be a bullish development. On the downside, a reversal lower would expose $2583.6, the Dec 19 low. Initial support is at $2649.0, the 50-day EMA.
BUNDS: US Trump's inauguration Day
Jan-20 07:13
- A tight 17 ticks range for Bund Overnight, the US are out for MLK day and Trump's inauguration.
- While the contract is showing slightly in the red, it remains closer to Friday's high, where the initial resistance will be seen.
- The 131.97 high on Friday was also close to the 2.50% level in Yield terms.
- Initial small support comes at 131.50, Friday's low.
- The German PPI came below expectation on the Cash open, but was only worth a 8 ticks gain for the Bund, and there's no Data left for today's session.
- SPEAKERS: ECB Vujcic, Holzmann, Trump's Inauguration should start before noon Local time.
