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
Disclaimer: The articles are from GO Markets analysts, based on their independent analysis or personal experiences. Views or opinions or trading styles expressed are of their own; should not be taken as either representative of or shared by GO Markets. Advice (if any), are of a ‘general’ nature and not based on your personal objectives, financial situation or needs. You should therefore consider how appropriate the advice (if any) is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Proud partner of Chelsea Football Club Find out more