Update: Crude Oil, Gold, EUR/USD, GBP/USD, USD/CAD, USD/JPY, AUD/USD, USD/CHF
The euro rose to its highest in six weeks against the Swiss franc on Tuesday, continuing the previous day’s rise when Switzerland’s largest banks said they would charge for some franc deposits.
Sterling hit a one-month high versus the dollar on Tuesday as long-term investors bought the pound, adding to Monday’s gains.
The Aussie edged up on Tuesday even after the Reserve Bank of Australia cut its cash rate by a quarter point, a move so well discounted that it prompted a “buy on the fact” response.
The Aussie dollar AUD=D4 initially slipped as low as $1.0406 after rates were cut to 3 percent, but quickly recovered to last fetch $1.0447, up 0.3 percent on the day.
Financial markets had been almost fully priced for an easing and Aussie short positions got squeezed when the central bank statement did not appear as dovish as some had hoped.
Crude Oil (Jan 13) intraday: the downside prevails.
Pivot: 90.25
Our preference: SHORT positions below 90.25 with 87.5 & 86.5 as next targets.
Alternative scenario: The upside penetration of 90.25 will call for a rebound towards 90.8 & 91.6.
Comment: break of a ST rising trendline support.
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced {OPENEDEMAILMARKER}
| GOLD (Spot) intraday: the downside prevails.
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
|
| EUR/USD intraday: the upside prevails.
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
|
| GBP/USD intraday: bullish bias above 1.606
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
|
| USD/CAD intraday: further upside.
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
|
| USD/JPY intraday: supported by a rising trend line.
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
|
| AUD/USD intraday: caution.
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
|
USD/CHF intraday: key ST resistance at 0.927
Pivot: 0.9270.
Our preference: SHORT positions below 0.927 with 0.924 & 0.921 as next targets.
Alternative scenario: The upside penetration of 0.927 will call for a rebound towards 0.9285 & 0.9305.
Comment: the pair is trading in a bearish channel
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
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Heffernan Capital Management
Linda Johnson,
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Sales@Heffcap.com
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Tel: +65 6329 6408
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Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
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