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NASDAQ HITS 10k

Against a backdrop of a worldwide pandemic & riots, the US tech. index has breached 10,000 for the first time.

Aside from the NASDAQ, equities were quite weak, with European equities closing lower and SP500 looking to do the same.

It was an odd up and down day, with oil moving from over 2% down to closing at the highs, around 2% up.

Gold was up more due to heavy USD weakness than anything else. Yields had a bad day and that supported Yen & Swissy strength. Commodity currencies were weak, though well off the lows now.

The market is signaling caution, though this could just be due to apprehension over the FOMC meeting tomorrow.

EVERYTHING LINING UP

We can add EURUSD to the list of currencies in key areas as we head into FOMC, with the highs today getting within 100 pips of the 2019 open - which has also been a key historic area of liquidity.

FOMC

Like so many other currencies v's USD, it is extended on its run & even if this is a major breakdown for USD, a big spike tomorrow could set up a fade that would work even if only to re-test the 1.13 area. With the market freezing up slightly today and everything in such important areas, tomorrow may be a pivotal moment for the coming months.

0130 : AUD Westpac Consumer Confidence

0230 : CNY China CPI

0230 : AUD Home Loans & Investment Lending Data

1330 : USD CPI

1900 : USD Fed Policy Decision, Projections & Statement

1930 : USD FOMC Presser

#sampp500 #gold #usdjpy #sp500 #dollar #nasdaq #spy #oil #yields #usd #swissy #fomc #eurusd #yen

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