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Market Update – January 26 – BOC Pause, TESLA Beat, USD at Lows

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HK Today, markets reopened and rallied +2.15%Other Asian markets were more flexible after a weaker handover form Wall Street (opened -1.6% However, they have come back close to their original intent. Flat) Gold The temperature remains at 9.3 mths highs USD At 8-mth lows. The Dovish 25bp From the BOC Click the CAD button (USDCAD Hit 1.3430 Starting at 1.3340); – the key phrase the Bank – “expects to hold the policy rate at its current level while it assesses the impact of cumulative interest rate increases.” There is speculation that the BOC may even raise rates before year’s end. #TSLA (+0.38%Earnings beat (+5.5% after hours) record deliveries (with 1.8-2.0 possible 2023), magins held up & the 20% price cuts kicked-in. MUSK Talked of deep recession and cost cutting in the year ahead  Gold $1940, USOIL More $80.00, BTC Breach $23k.

  • The USD Index Has tested the 8-mth low 101.25, Today, trades at 101.40 ahead a busy economic data day. 
  • EUR – holds over 1.0900 Now, we are posting 9-mth highs 1.0929 today, Following 1.0925 Monday 
  • JPY – Sank below support at 130.00 Yesterday and then tested back to 129.00 Today, before the Japanese minister warned against letting speculators control JPY movements.  
  • GBP – Sterling has rallied in the past 1.2400 Test today 1.2410



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