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European major indices end the session lower

German DAX -0.2%. UK FTSE 100 down -0.15% looking at other markets as London/European traders look to exit:

Bitcoin extends to new session highs

Trading away from its 100/200 hour moving averages Trading yesterday so the price move back above the 100 and 200 hour moving averages but stalled just ahead of the 61.8% retracement of the range since January 8 at $37,445.78. The subsequent fall move back below the aforementioned moving averages once again.

Yellen: China is an important, strategic competitor

Comments from Yellen

NZDUSD trades back below a swing area in up and down session

The price is below a swing area at 0.7113 and 0.7120 The NZDUSD has traded back down to test the Asian session low at 0.70995. The price reached 0.71018 the last hourly bar (see chart below).  

Watch live: Yellen speaks at confirmation hearing

Watch Yellen's testimony Nice fireplace.

AUDUSD higher on the day but runs into MA resistance

The AUDUSD is trading up to the 100 hour/200 hour MA  The AUDUSD moved higher in the early Asian session - holding above support  in the 0.76584 to 0.7665 area. The low in the first hour of trading was just above that area at 0.7668.

Merkel reaches deal to extend lockdown to Feb 14

No venturing out until Valentine's Day Germany is mulling curfews as it tries to keep a lid on the virus. Elsewhere, the numbers on the virus have been improving in the UK and US.

New Zealand GDT price index +4.8%

Dairy auction results A broad US dollar bid is weighing on NZD/USD at the moment.

USDCAD trades to new session high. Retraces full decline from the Asian session high

Support at the 200 hour MA  stalled the fall The USDCAD is trading to a new session high and has retraced fully the fall from the early Asian session high. 

Treasury yields consolidating ahead of Yellen

Bull flag? Today Yellen will deliver her 'go big' stimulus speech in her confirmation hearing for Treasury Secretary. I don't see it as a big risk for markets but I will be watching the bond market closely. US 10-year yields are up 3 bps to 1.11% today and continue to consolidate after the test of 1.20%

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