By Lachlan Meakin
With the US equity markets closed in observance of Martin Luther King day it was a quiet night on European exchanges with little change of mixed performance.
Yesterday we saw China GDP q/y beat expectations which made it the only major global economy to grow in 2020. We saw rallies in the China A50 index and the Hang Seng (HK50) on the back of this.
The US equity markets will reopen today with Netflix (NFLX) , Bank of America (BAC) and Goldman Sachs (GS) reporting earnings.
FX markets were also muted overnight, US Dollar strength continued at a lesser rate with EUR, AUD and GBP weakening slightly against the greenback.
With no major news announcements due the FX markets could remain quiet until Thursday when a flurry of Central banks are releasing statements and policies which will likely cause some volatility.
An early dip in Bitcoin (BTCUSD) again had the buyers appear, pushing the price back up to finish the session only mildly negative.
It is evident there are committed buyers of the cryptocurrency on dips even after the stellar run in price it has had.
Similar price action was seen in Ethereum (ETHUSD) with an initial drop after the open retracing after being well supported by buyers.
In a low volume holiday session Gold (XAUUSD) experienced some wild price swings yesterday.
After a week of a down trending price it seems to have found some support around these levels with a sell off in the morning being bought and finishing positive for the session despite mild USD strength.
Source: GO MT4
By Lachlan Meakin
Wednesday, 20 January 2021
Indicative Index Dividends
Dividends are in Points
ASX200 WS30 US500 US2000 NDX100 CAC40 STOXX50 0 0 0.005 0.019 0 0 0 ESP35 ITA40 FTSE100 DAX30 HK50 JP225 INDIA50 0 0 0 0 0 0 0
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