| | | | | FX Strategy 07 Sep 2020 | | | In the G10 FX Market, USD and JPY are the top gainers today while GBP and NZD are the top losers, down -0.56% and -0.4% versus the dollar, respectively. In the rates market, global yields were trading firm today. The German 10-year was trading at -0.449, up 2.9bp. The UK 10-year was trading at 0.284, up 1.8bp. The Japan 10-year was trading at 0.042, up 0.6bp. | | | In the Asian equities, markets were trading mixed today. The Kospi was trading at 2384.22, up 0.67%. The Nikkei 225 was trading at 23089.95, down -0.5%. The Hang Seng was trading at 24576.0, down -0.48%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 12958.3, up 0.9%. The FTSE 100 was trading at 5859.67, up 1.04%. The Euro Stoxx 50 was trading at 3286.45, up 0.79%. | | | Looking at Equity Futures so far,The FTSE100 Futures was trading at 5860.5, up 1.31%. The Euro Stoxx 50 Futures was trading at 3286.0, up 1.2%. The SP500 Futures was trading at 3405.38, down -0.35%. | | | In the Energy space, Oil futures were trading weak today. The Brent Crude Futures was trading at 42.05, down -1.43%. The WTI Crude Futures was trading at 39.12, down -1.63%. | | | In terms of data releases, we have already seen August data for China, with Balance of Trade (Actual $58.93B v Forecast $47B), Exports YoY (Actual 9.5% v Forecast 6.5%) and Imports YoY (Actual -2.1% v Forecast 0.1%). We have also had German Industrial Production (Actual 1.2% v Forecast 4.5%) which was released earlier this morning. | | | Looking forward to the European morning session, we have Consumer Confidence from Spain for August (Previous 53.1 v 47) at 10:30 GMT with BRB Focus Market Readout following at 11:30 GMT. With US Labor Day, we do not have any economic data releases from the US today, we only have Russian Foreign Reserves for August at 13:00 GMT. | | | Later this evening at 23:50 GMT we have Japanese GDP data, with GDP Growth Rate QoQ Final Q2 (Previous -0.6% v Forecast -8%), GDP Growth Annualised Final Q2 (Previous -2.2% v Forecast -28%) and Current Account for July (Previous YEN167.5 v Forecast YEN1830B). | | | 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: Support at 1.1791 for 1.1875
Short-term view: EURUSD MACD and RSI are flat but support comes in at 1.1791 and we see a rise to 1.1875 enter at 1.1819. Below 1.1791 to open 1.1743 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.3259 for 1.3115
Short-term view: GBPUSD MACD and RSI are flat but resistance comes in at 1.3259 and we see a dip to 1.3115 enter at 1.3211. Above 1.3259 to open 1.3341 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Resistance at 106.48 for 106.03
Short-term view: USDJPY MACD and RSI are flat but resistance comes in at 106.48 and we see a dip to 106.03 enter at 106.33. Above 106.48 to open 106.72 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Support at 0.7236 for 0.7313
Short-term view: AUDUSD MACD and RSI are flat but support comes in at 0.7236 and we see a rise to 0.7313 enter at 0.7261. Below 0.7236 to open 0.7191 | | | | | | TraderMade
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