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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

CABLE
CABLE: Cable eased off at the start to the session, breaking out of yesterday's
range to the downside, but USD sales pushed the rate higher. In the NY/Asia
crossover, the Times reported that UK Health Minister & Conservative MP Dorries
has tested positive for the novel coronavirus. She is now under self-quarantine,
but had previously attended an event at No. 10 with PM Johnson & Health Sec
Hancock, as well as various meetings with "hundreds of people in parliament."
Selling pressure hit USD amid disappointment with the lack of clarity re:
stimulus measures from the White House, helping cable recover from lows.
- Chancellor Sunak will deliver the 2020 Budget to lawmakers later today. The
spending plan comes in the midst of a global coronavirus crisis, which has seen
gov'ts across the world draft emergency stimulus measures. Sources told BBG that
the Chancellor will pledge GBP600bn for infrastructure spending by mid-2025.
- The rate sits at $1.2920, 10 pips better off. A rally above the psychological
barrier of $1.3000, flanked by the 100-DMA ($1.2994) & 50-DMA ($1.3003) would
see bulls targeting the Mar 9 peak at $1.3200. Bears look for a drop towards the
Feb 28 low/200-DMA at $1.2726/11 to start with.