AUD/USD falls to fresh one-month low as risk aversion stays the course

AUD/USD falls to fresh one-month low as risk aversion stays the course

2021-01-28 • Updated

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Ichimoku Kinko Hyo

AUD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

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Fibonacci Levels

XAG/USD: Silver breaks down many support levels but recently buyers achieved to send price below 23.6% retracement area.

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EU Market View

Asia indices decline on spillover selling from US where stocks had their worst day since October amid overvaluation concerns, earnings pressure, hedge fund liquidations and with the Fed providing a downbeat tone on the economy.  European stock markets are seen opening lower Thursday, as investors react to the sudden selloff on Wall Street overnight. U.K. Prime Minister Boris Johnson indicated on Wednesday that the Covid-19 lockdown in England would last into March, after the U.K.'s death toll from the virus surpassed 100,000, the first European state to reach that figure. Oil prices slipped Thursday, as worries over weakening demand due to travel restrictions, particularly in China, have overshadowed a large fall in U.S. crude stockpiles.

FOMC left rates unchanged and maintained the size of its asset purchase programme, as expected. -Looking ahead, highlights from macroeconomic calendar include German CPI, US GDP (Q4), PCE, IJC, Japanese unemployment, ECB's Schnabel speech.

EU Key Point

  • Germany to prepare entry restrictions for travelers from the UK, Brazil, South Africa.
  • Gold stays in a precarious spot, looks set for first January drop since 2013.
  • Australian coronavirus vaccinations look like being delayed further.

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