Focus Turns To Strong US Housing Data
Matt Simpson | Jul 23, 2014 02:17AM ET
A snapshot view of yesterday’s New York - London session with technical notes.
US Stocks press higher: While Israel continues to attack Hamas militants in Gaza, and tensions within Ukraine remain high, investors paid more attention to strong US housing data and even turning a blind eye to the slower than expected CPI (0.1% vs 0.2% expected).
EURO's sold off across the board: 8 -month lows against USD and AUD, and back near the July 2012 lows against GBP.
Swiss Trade Balance widens: USD/CHF breaks to 6-week high
Volatility S&P 500 (Fear Index) edges to a 3-day low as investors fears ease
FOREX:
DXY: Traded to a 6-week high following 'OK' inflation data; D1 bias remains bullish and targeting 81; Support at 80.70 and 80.65
AUD/USD: Back below 94c after an intraday spike above; D1 remains neutral with potential triangle forming
EUR/USD: Below weekly trendline form 2012 with 1.350 as clear resistance; The downside looms, targeting 1.34
GBP/USD: Grinds lower finding support at 1.706; Still within correction from highs but trend remains bullish; Seeking buys above 1.7
USD/CAD: Continued to trade sideways between 1.07 and 1.08; Break of bearish TL from March highs confirms bullish continuation
{{3|USD/JPY}}: Shooting Star on D1 warns of pending weakness; D1 is neutral; Intraday is bullish above 101.43
NZD/USD: Finds support above 0.864; Markets await Rate rise tomorrow so expecting subdued trading
Gold: Lacks momentum but formig potentialk base above $1291-$1300; Sits above 50/200 sMA but requires a catalyst - until then intraday trading preferred.
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