| | | | | FX Strategy 24 Aug 2020 | | | In the G10 FX Market, SEK and AUD are the top gainers today, up 0.27% and 0.25% versus the dollar while NZD and CHF are the top losers, down -0.04% and -0.04% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The German 10-year was trading at -0.501, up 0.9bp. The US 10-year was trading at 0.636, flat 0.0bp. The UK 10-year was trading at 0.204, down -0.3bp. The Japan 10-year was trading at 0.022, down -0.9bp. | | | In the Asian equities, markets were trading stronger today. The Hang Seng was trading at 25564.25, up 1.79%. The Nikkei 225 was trading at 22985.51, up 0.28%. The Kospi was trading at 2329.83, up 1.1%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 12939.6, up 1.2%. The FTSE 100 was trading at 6079.45, up 1.29%. The Euro Stoxx 50 was trading at 3306.55, up 1.14%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 6074.8, up 1.36%. The Euro Stoxx 50 Futures was trading at 3302.0, up 1.6%. The SP500 Futures was trading at 3412.12, up 0.58%. | | | In the Energy space, Oil futures were trading stronger today. The Brent Crude Futures was trading at 45.15, up 1.8%. The WTI Crude Futures was trading at 42.55, up 0.5%. | | | Today is relatively light for economic data releases as summer markets take effect. At 09:45 GMT we have the German 12-Month Bubill Auction, with Turkish Auto Production for July YoY following at 10:30 GMT (Previous -5.4% v Forecast 2%). At 11:30 GMT we have the Central Bank of Brazil (BCB) Focus Market Readout. | | | The afternoon session sees Chicago Fed National Activity Index for July (Previous 4.11 v Forecast 2) at 12:30 GMT. Retail Sales YoY for June from Argentina follows at 19:00 GMT (Previous -93.1% v Forecast -90%), with South Korean Consumer Confidence for Augist following at 21:00 GMT (Previous 84.2 v Forecast 84). | | | 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 1.1868 for 1.1739
Short-term view: EURUSD resistance comes in at 1.1868 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1739 enter at 1.1825. Above 1.1868 to open 1.194 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.3135 for 1.3014
Short-term view: GBPUSD resistance comes in at 1.3135 MACD and RSI have a bearish bias. Hence, we see a dip to 1.3014 enter at 1.3108. Above 1.3135 to open 1.321 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.48 for 106.11
Short-term view: USDJPY support comes in at 105.48 MACD and RSI have a bullish bias. Hence, we see a bounce to 106.11 enter at 105.69. Below 105.48 to open 105.15 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7204 for 0.7128
Short-term view: AUDUSD MACD and RSI are flat but resistance comes in at 0.7204 and we see a dip to 0.7128 enter at 0.7179. Above 0.7204 to open 0.7249 | | | | | | TraderMade
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