| | | | | FX Strategy 02 Sep 2020 | | | In the G10 FX Market, NZD and USD are the top gainers today while CHF and AUD are the top losers, down -0.29% and -0.27% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The US 10-year was trading at 0.687, up 1.5bp. The Japan 10-year was trading at 0.037, flat 0.0bp. The German 10-year was trading at -0.437, down -2.2bp. The UK 10-year was trading at 0.274, down -2.4bp. | | | In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 23247.15, up 0.47%. The Kospi was trading at 2364.37, up 0.63%. The Hang Seng was trading at 25128.0, down -0.23%. In the European equities, indices were trading firm today. The DAX 30 was trading at 13109.65, up 1.04%. The FTSE 100 was trading at 5929.35, up 1.15%. The Euro Stoxx 50 was trading at 3304.75, up 0.83%. | | | Looking at Equity Futures so far,The FTSE100 Futures was trading at 5922.5, up 1.21%. The Euro Stoxx 50 Futures was trading at 3302.0, up 0.95%. The SP500 Futures was trading at 3541.38, up 0.41%. | | | In the Energy space, Oil futures were trading firm today. The Brent Crude Futures was trading at 46.02, up 0.97%. The WTI Crude Futures was trading at 43.19, up 1.01%. | | | Today we have already seen economic data released from Australia, with GDP Growth Rate QoQ Q2 (Actual -7% v Forecast -6.2%) and YoY Q2 (Actual -6.3% v Forecast -5.5%). We have also had German Retail Sales for July YoY (Actual 4.2% v Forecast 5.1%) and MoM (Actual -0.9% v Forecast -0.5%), UK Nationwide Housing Prices MoM for August (Actual 2% v Forecast 0.4%) and at 09:00 GMT EA PPI for July will be released with YoY (Previous -3.7% v Forecast -3.5%) and MoM (Previous 0.7% v Forecast 0.3%). | | | This afternoon we have ADP Employment Change for August (Previous 167K v Forecast 1000K) at 12:15 GMT, with US Factory Orders for July MoM following at 14:00 GMT (Previous 53.5 v Forecast 52). Fed's Williams is also speaking from 14:00 GMT with BoE's Broadbent on the wires from 14:30 GMT. Weekly US Oil data is also released; we then have BoE's Haldane, Fed's Mester and Fed's Kashkari speaking separately at 15:30 GMT, 16:00 GMT and 18:00 GMT respectively.Later this evening we have Australian data with CommBank Services PMI Final (Previous 58.2 v Forecast 48.1) and Composite PMI Final (Previous 57.8 v Forecast 48.8) for August. | | | 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 1.1942 for 1.1831
Short-term view: EURUSD resistance comes in at 1.1942 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1831 enter at 1.1905. Above 1.1942 to open 1.1982 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.3408 for 1.3333
Short-term view: GBPUSD resistance comes in at 1.3408 MACD and RSI have a bearish bias. Hence, we see a dip to 1.3333 enter at 1.3383. Above 1.3408 to open 1.3459 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.65 for 106.46
Short-term view: USDJPY support comes in at 105.65 MACD and RSI have a bullish bias. Hence, we see a bounce to 106.46 enter at 105.92. Below 105.65 to open 105.34 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7382 for 0.7327
Short-term view: AUDUSD resistance comes in at 0.7382 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7327 enter at 0.7364. Above 0.7382 to open 0.7405 | | | | | | TraderMade
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