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Latest data released by the BOE – 2 June 2020 – 56.2k; revised to 56.1k – Net consumer credit -£7.4 billion vs -£4.5 billion expected – Prior -£3.8 billion For bank trade ideas, check out eFX Plus

Wuhan announces that it has completed its city-wide coronavirus testing Once again, believe what you will when it comes to the numbers but if anything, investors could easily take this headline at face value to meaning that the coronavirus can be eradicated considering that Wuhan is the epicenter of the outbreak.

Dow industrial average rising by over 1%. Posts 2 day win streak The final numbers are showing: Some winners today included: For bank trade ideas, check out eFX Plus

S&P index up 0.67% The US major stock indices are trading to new session highs as the clock ticks to the close.   For bank trade ideas, check out eFX Plus

Up $1.37 or 3.87% The price of crude oil futures settle today at $36.81. That is up $1.37 or $3.87. The high price for the day reached $36.89. The low extended to $35.28.

….and the 50% and a swing area The GBPJPY is making a bullish run for it.  Technically today, the price has squeezed above: All those moves are more bullish. Stay above and the bulls/buyers are in control.  Move back below and the bullish move today, loses increasing amounts of bullishness.  

Key level from a technical perspective The CAD is getting stronger against the USD (see post here). It is also moving higher vs the JPY. The CADJPY moved above its 100 day moving average yesterday (currently at 78.953) and has raced even higher today to test its 200 day moving average at 80.515 (green line in the chart [&

The price moved away from the 100 day MA yesterday Yesterday, the USDCAD fell below its 100 day moving average (blue line in the chart below) and ran to the downside (). The price today has extended that run and in the process has started to ship away at a price gap between 1.34599 and 1.35169.

Moves further away from the 100/200 day MAs After some hesitancy at the 100 and 200 day MA, the USDJPY has pushed higher and further away from those converge moving averages (near 108.30 level). The pair just reached a new session high at 108.69 and in more upside open road.

German DAX played catch up in rises by 3.75% Below are the percentage changes of the major indices. US stocks are mixed with the NASDAQ index currently down -0.34%. The Dow industrial average is up 0.56%. The S&P index is between those levels at +0.21%.