| | | | | FX Strategy 25 Aug 2020 | | | In the G10 FX Market, NOK and GBP are the top gainers today, up 0.39% and 0.26% versus the dollar while JPY and NZD are the top losers, down -0.14% and -0.04% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The UK 10-year was trading at 0.221, up 1.6bp. The German 10-year was trading at -0.481, up 1.3bp. The US 10-year was trading at 0.666, up 1.2bp. The Japan 10-year was trading at 0.027, flat 0.0bp. | | | In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 23296.77, up 1.35%. The Kospi was trading at 2366.73, up 1.58%. The Hang Seng was trading at 25549.5, down -0.01%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 13200.2, up 1.02%. The FTSE 100 was trading at 6146.8, up 0.69%. The Euro Stoxx 50 was trading at 3362.95, up 0.94%. | | | Looking at Equity Futures so far, FTSE100 Futures was trading at 6140.5, up 0.63%. The Euro Stoxx 50 Futures was trading at 3358.0, up 0.9%. The SP500 Futures was trading at 3446.62, up 0.56%. | | | In the Energy space, Oil futures were trading mixed today. The Brent Crude Futures was trading at 45.76, up 1.4%. The WTI Crude Futures was trading at 42.59, down -0.07%. | | | Today we have already seen German data releases, with GDP Growth Rate YoY Final Q2 (Actual -11.3% v Forecast -11.7%) and GDP Growth Rate QoQ Final Q2 (Actual -9.7% v Forecast -10.1%). We have also seen Turkish Capacity Utilization for August (Actual 73.3% v Forecast 70.5%) and Business Confidence for August (Actual 106.2 v Forecast 98). This morning we have German Ifo Business Climate for August (Previous 90.5 v Forecast 92.5) at 08:00 GMT with UK CBI Distributive Trades for August following at 10:00 GMT (Previous 4 v Forecast 11). | | | Moving into the afternoon session, we have US S&P/Case-Shiller Home Price for June MoM (Previous 0.4% v Forecast 0.3%) and YoY (Previous 3.7% v Forecast 3.6%) at 13:00 GMT. At 14:00 GMT we have US New Home Sales for July (Previous 0.776M v Forecast 0.784) alongside Richmond Fed Manufacturing Index for August (Previous 10 v Forecast 1). At 17:30 GMT Bank of Canada's Schembri is speaking, followed by Fed's Daly at 19:25 GMT. South Korean Business Confidence for August is also released later today at 21:00 GMT (Previous 57 v Forecast 53). | | | 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 1.1831 for 1.1765
Short-term view: EURUSD MACD and RSI are flat but resistance comes in at 1.1831 and we see a dip to 1.1765 enter at 1.1809. Above 1.1831 to open 1.1873 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.3124 for 1.3028
Short-term view: GBPUSD MACD and RSI are flat but resistance comes in at 1.3124 and we see a dip to 1.3028 enter at 1.3098. Above 1.3124 to open 1.3184 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.89 for 106.4
Short-term view: USDJPY support comes in at 105.89 MACD and RSI have a bullish bias. Hence, we see a bounce to 106.4 enter at 106.06. Below 105.89 to open 105.78 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Support at 0.714 for 0.7194
Short-term view: AUDUSD support comes in at 0.714 MACD and RSI have a bullish bias. Hence, we see a bounce to 0.7194 enter at 0.7158. Below 0.714 to open 0.7118 | | | | | | TraderMade
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