A quiet start to the week, with price action remaining limited across financial instruments.
The major currencies remain in a narrow range and with no major changes, with only the Ozzie higher, with AUD / USD close to 0.6700.
The bonds are unchanged, while Asian stocks and US futures are holding lower than their levels at the start of the session, and the same is expected to be observed in the first moments of European trade.
China is back to work today, and it all depends on how the history of the coronavirus will develop and how the risky assets will react. This will keep investors focused today before the central banks intervene tomorrow.
Gold is at key levels of resistance – former support, and a successful test here will seal the ticket at a downward price. But technique alone will not help here. In order to achieve this scenario, investors will need to direct cash flows to stocks and take on new highs on the major stock indices.
Oil looks set to fill the gap from the start of the week and key support levels it can play as a catalyst to fuel a new uptrend.