{"id":21293,"date":"2022-01-21T12:23:00","date_gmt":"2022-01-21T12:23:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=21293"},"modified":"2022-01-21T17:07:51","modified_gmt":"2022-01-21T17:07:51","slug":"risk-aversion-markets","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/risk-aversion-markets\/","title":{"rendered":"Risk aversion markets"},"content":{"rendered":"\t\t
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Midday Update<\/strong><\/p>

It has been a quiet Friday European session, with a big sense of uneasiness as equities stayed on the retreat due to the ongoing tensions between Russian and Ukraine heading into the weekend.<\/p>

A classic case of risk aversion trade is in play in FX has been the CHF\/NZD moving high. While the Yen and the Franc are notable gainers in European morning trade.<\/p>

The USDJPY<\/a> pair has kept around 113.80-90 heading into the US session, with large options expiries perhaps taming price action. But USDCHF<\/a> fell from 0.9150 to 0.9120 as the Franc outperforms every other currency during the EU session.<\/p>

Meanwhile, USDCAD<\/a> kept above its 200-day moving average at around 1.252, while the AUDUSD<\/a> is stuck around 0.7180-90 levels, which is strange as the Aussie is a risk-off proxy currency.<\/p>

The FTSE100<\/a> continues to reverse from a multi-year high under the 7,500 level, while the CAC40<\/a>, ESP35<\/a>, and Ger40<\/a> are heavily in the red on a weekly basis.<\/p>

A big miss was seen on UK retail sales earlier. \u00a0The drop in December was a brutal -3.6% year-on-year, and 0.6% month-on-month. This is less encouraging for UK economic recovery signs as the omicron wave impacted activity for the most part.<\/p>

Non-food UK store sales fell by 7.1% after a solid performance in November, with a fall observed in each of its sub-sectors i.e. department stores, clothing stores, other non-food stores and household stores.<\/p>

However, markets are forward looking, always remember that. And with Boris Johnson easing restrictions on the 27th<\/sup> it could be time to look more optimistically towards the UK economy.<\/p>

The US 10year<\/a> is the biggest driver of the markets going into the US session, and is down 4 basis points, at 1.79%. Do keep an eye on the 10-year, as it is instrument that can hugely effect FX pairs.<\/p>

Gold<\/a> is down 0.3 % on the day. I am not sure how long this can last and do remember that the $1,830 level is the big level to watch this week. It could be a technical retest rather than anything more ominous.<\/p>

And finally, Bitcoin is down 6% over the last twenty-four hours. The brutal drop has seen BTCUSD falling down towards the $38,800 area, with stops triggered under $40,000.<\/p>

Bitcoin has a huge head and shoulders pattern on the daily and weekly time frame right now. Don\u2019t be surprised to see BTC testing close to $30,000 sometime this quarter.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Midday Update It has been a quiet Friday European session, with a big sense of uneasiness as equities stayed on the retreat due to the ongoing tensions between Russian and Ukraine heading into the weekend. A classic case of risk aversion trade is in play in FX has been the CHF\/NZD moving high. While the […]<\/p>\n","protected":false},"author":4,"featured_media":21295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[176,105,610,57,609,289,55,22],"yoast_head":"\nRisk aversion markets - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/risk-aversion-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Risk aversion markets Risk aversion markets\" \/>\n<meta property=\"og:description\" content=\"It has been a quiet Friday European session, with a big sense of uneasiness as equities stayed on the retreat due to the ongoing tensions between Russian and Ukraine heading into the weekend.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/risk-aversion-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-21T12:23:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-21T17:07:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/01\/GettyImages-1282419658.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"509\" \/>\n\t<meta property=\"og:image:height\" content=\"298\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Risk aversion markets Risk aversion markets\" \/>\n<meta name=\"twitter:description\" content=\"It has been a quiet Friday European session, with a big sense of uneasiness as equities stayed on the retreat due to the ongoing tensions between Russian and Ukraine heading into the weekend.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/risk-aversion-markets\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/risk-aversion-markets\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Risk aversion markets\",\"datePublished\":\"2022-01-21T12:23:00+00:00\",\"dateModified\":\"2022-01-21T17:07:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/risk-aversion-markets\/\"},\"wordCount\":398,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"Bitcoin\",\"BONDS\",\"CHFNZD\",\"FTSE100\",\"Russia-Ukraine tensions\",\"UK Retail Sales\",\"USDCHF\",\"USDJPY\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/risk-aversion-markets\/\",\"url\":\"https:\/\/youtrading.com\/en\/risk-aversion-markets\/\",\"name\":\"Risk aversion markets - 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