Market Update – January 31 – USD & Stocks hold gains plenty of risks around
Stock markets rallied +2.43% Friday, Asia markets higher (Nikkei +1.4%) in thin Lunar Holiday trading, USD & Yields & Oil all remain bid with Gold heavy. Markets have a busy week ahead, with China closed, tensions in Ukraine/Russia not subsiding and North Korea firing missiles into Sea of Japan.
This Week: BOE, ECB, RBA, ISM PMI’s, and NFP
- USD (USDIndex 97.10) holds 1.7% gains for the month
- US Yields 10-yr closed at 1.782% & trades at 1.78%.
- Equities – USA500 +105 (+2.43%) 4431 – (APPLE +6.98%) USA500 FUTS hold 4428.
- USOil – Breached $87.00 on Friday now $86.30
- Gold – down to $1788 afrom highs over $1850 last week
- Bitcoin remains under $40,000 back to test $37,100,
- FX markets – EURUSD back to 1.1170 USDJPY now 115.40 & Cable back to 1.3433.
Overnight – Chinese Factory data missed & Japanese Consumer confidence, Housing Starts and Construction spending all missed significantly too.
European Open – The March 10-year Bund future is up 31 ticks, underperforming versus Treasury futures, which are also in the red. European stock futures meanwhile are higher, with the DAX up 1.3% and set for a strong rebound after the sharp sell off on Friday that came in the wake of weaker than expected German GDP numbers. Still, risk appetite remains supported ahead of BOE & ECB this week.
Today – German CPI, EZ GDP (Flash, Prelim.), FED’s Daly & George.
Biggest FX Mover @ (07:30 GMT) AUDCHF (+0.92%) Rallied from 3 day fall at 0.6490 to 0.6560 now. MAs aligned higher, MACD signal line & histogram rising over 0 line RSI 65 & rising, H1 ATR 0.00125 Daily ATR 0.0060.
Click here to access our Economic Calendar
Head Market Analyst
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our written permission.
Comments are closed