Europe’s shared currency kicked off the week lower against the buck, pencilling in a decisive opening gap. Early Europe witnessed a run to 1.0805, before spiking to highs of 1.0841 amid a modestly better-than-expected German IFO print.
Global Markets: Asian Stock Markets : Nikkei down 0.39%, Shanghai Composite down 0.28%, Hang Seng down 1.72%, ASX down 2.25% Commodities : Gold at $1669.85 (+1.28%), Silver at $18.66 (+0.72%), Brent Oil at $56.52 (-2.45%), WTI Oil at $52.13 (-2.34%) Rates : US 10-year yield at 1.473, UK 10-year yield at 0.590, Germany 10-year yield … Continue reading Monday 24th February: Asian markets drop as coronavirus catches up outside China.
After toppling the 2016 yearly opening level at 1.0873, channel support, taken from the low 1.1109, welcomed a test last week and held price higher. Producing a hammer candlestick formation (a bullish signal at troughs), the unit now faces 1.0873 as potential resistance this week.
Global Markets: Asian Stock Markets : Nikkei down 0.39%, Shanghai Composite up 0.33%, Hang Seng down 0.99%, ASX down 0.33% Commodities : Gold at $1634.15 (+0.84%), Silver at $18.50 (+1.00%), Brent Oil at $58.71 (-1.01%), WTI Oil at $53.41 (-0.87%) Rates : US 10-year yield at 1.493, UK 10-year yield at 0.577, Germany 10-year yield … Continue reading Friday 21st February: Asian markets lower on concerns of virus effect on economy
Key risk events today: Eurozone Flash Manufacturing/Services PMIs; UK Flash Manufacturing PMI and Flash Services PMI; Canada Core Retail Sales m/m and Retail Sales m/m; US Flash Manufacturing PMI. (Previous analysis as well as outside sources – italics). EUR/USD: EUR/USD concluded Thursday pretty much unchanged, but did manage to chalk up a bearish outside formation … Continue reading Friday 21st February: Technical Outlook and Review.
