| | | | | FX Strategy 12 Aug 2020 | | | In the G10 FX Market, NOK and USD are the top gainers today while NZD and AUD are the top losers, down -0.52% and -0.29% versus the dollar, respectively. In the rates market, global yields were trading firm today. The US 10-year was trading at 0.671, up 2.8bp. The UK 10-year was trading at 0.218, up 1.7bp. The German 10-year was trading at -0.46, up 1.2bp. The Japan 10-year was trading at 0.036, up 0.3bp. | | | In the Asian equities, markets were trading stronger today. The Hang Seng was trading at 25137.5, up 0.99%. The Nikkei 225 was trading at 22843.96, up 0.41%. The Kospi was trading at 2432.35, up 0.57%. In the European equities, indices were trading mixed today. The FTSE 100 was trading at 6170.49, up 0.26%. The Euro Stoxx 50 was trading at 3331.21, down -0.03%. The DAX 30 was trading at 12924.6, down -0.17%. | | | Looking at Equity Futures so far, FTSE100 Futures was trading at 6142.0, up 0.43%. The SP500 Futures was trading at 3349.88, up 0.6%. The Euro Stoxx 50 Futures was trading at 3326.0, flat 0.0%. | | | In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures was trading at 45.06, up 1.26%. The WTI Crude Futures was trading at 42.11, up 1.2%. | | | Today we have already seen UK GDP data for Q2 with Growth Rate YoY Prel (Actual -21.7% v Forecast -23%) and Growth Rate QoQ Prel (Actual -20.4% v Forecast -20.4%). We have also seen UK Construction Output YoY for June (Actual -24.8% v Forecast -20%), UK Industrial Production MoM for June (Actual 9.3% v Forecast 8.7%) and UK Industrial Production YoY for June (Actual -12.5% v Forecast -14%). This morning we look forward to Italian Inflation Rate YoY for June (Previous -0.2% v Forecast -0.3%) at 08:00 GMT with EA Industrial Production YoY June (Previous -20.9% v Forecast -12%) and MoM June (Previous 12.4% v Forecast -10%) being released at 09:00 GMT. | | | Moving into the afternoon session we have US Core Inflation Rate YoY July (Previous 1.2% v Forecast 1.0%) and US Inflation Rate YoY for July (Previous 0.6% v Forecast 0.7%) to be released at 12:30 GMT. Fed's Rosengren is also speaking at 14:00 GMT with weekly US Oil data released at 14:30 GMT. Fed's Kaplan is also speaking at 15:00 GMT with Fed's Daly is also on the wires from 19:00 GMT. | | | 10-Year Yields Daily Chart (1-month) | | | | | | | Daily FX Pivots | | | | | | | Brent Crude Daily Chart (1-month) | | | | | | | Forex Chart and Technical Analysis | | | EURUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.1757 for 1.1705
Short-term view: EURUSD resistance comes in at 1.1757 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1705 enter at 1.174. Above 1.1757 to open 1.1791 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.3074 for 1.3016
Short-term view: GBPUSD resistance comes in at 1.3074 MACD and RSI have a bearish bias. Hence, we see a dip to 1.3016 enter at 1.3055. Above 1.3074 to open 1.3106 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 106.37 for 107.13
Short-term view: USDJPY support comes in at 106.37 MACD and RSI have a bullish bias. Hence, we see a bounce to 107.13 enter at 106.62. Below 106.37 to open 106.05 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7156 for 0.7101
Short-term view: AUDUSD resistance comes in at 0.7156 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7101 enter at 0.7138. Above 0.7156 to open 0.7177 | | | | | | TraderMade
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