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analysis.hotforex.comMarket Update – January 31 – USD & Stocks hold gains plenty of risks around

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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 e/ 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 marketsEURUSD back to 1.1170 USDJPY now 115.40 & Cable back to 1.3433


OvernightChinese 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


Stuart Cowell


Head Market Analyst


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