| | | | | FX Strategy 10 Sep 2020 | | | In the G10 FX Market, CHF and EUR are the top gainers today, up 0.19% and 0.16% versus the dollar while AUD and NZD are the top losers, down -0.17% and -0.16% versus the dollar, respectively. In the rates market, global yields were trading weak today. The US 10-year was trading at 0.697, down -0.1bp. The Japan 10-year was trading at 0.022, down -0.2bp. The German 10-year was trading at -0.465, down -0.4bp. The UK 10-year was trading at 0.227, down -1.0bp. | | | In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 23235.47, up 0.88%. The Kospi was trading at 2396.48, up 0.87%. The Hang Seng was trading at 24451.0, down -0.07%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 13283.55, up 0.35%. The Euro Stoxx 50 was trading at 3333.25, up 0.25%. The FTSE 100 was trading at 6015.68, up 0.05%. | | | Looking at Equity Futures so far, the Euro Stoxx 50 Futures was trading at 3332.0, up 0.09%. The SP500 Futures was trading at 3402.62, up 0.07%. The FTSE100 Futures was trading at 6021.8, down -0.09%. | | | In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures was trading at 40.66, down -0.32%. The WTI Crude Futures was trading at 37.84, down -0.55%. | | | In terms of economic data releases, we have seen Australian Consumer Inflation Expectations for September (Actual 3.1% v Forecast 3.3%), French Industrial Production MoM for July (Actual 3.8% v Forecast 4.2%) and Unemployment Rate from Turkey for June (Actual 13.4% v Forecast 13.4%).This morning we look forward to Italian Industrial Production MoM for July (Previous 8.2% v Forecast 4.4%) at 08:00 GMT. At 11:45 GMT we have the ECB Interest Rate Decision with no change from current 0% expected, alongside EA Deposit Facility Rate (Previous -0.5% v Forecast -0.5%) and Marginal Lending Rate (Previous 0.25% v Forecast 0.25%). | | | The ECB Press Conference follows at 12:30 GMT. At the same time, we have US weekly Initial Jobless (Previous 881K v Forecast 810K) and Continuing Claims (Previous 13254K v Forecast 12700K) alongside US PPI MoM (Previous 0.6% v Forecast 0.2%) and YoY (Previous -0.4% v Forecast -0.2%) for August. At 14:00 GMT we have Wholesale Inventories MoM for July (Previous -1.3% v Forecast -0.1%) with US weekly Oil data being released at 15:00 GMT. BoC Governor Macklem and ECB President Lagarde are speaking at 16:30 GMT and 17:00 GMT respectively. Later this evening we look forward to Japanese PPI August data for MoM (Previous 0.6% v Forecast 0.4%) and YoY (Previous -0.9% v Forecast -0.7%). | | | 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 1.1797 for 1.1878
Short-term view: EURUSD support comes in at 1.1797 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.1878 enter at 1.1823. Below 1.1797 to open 1.1759 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Support at 1.297 for 1.3055
Short-term view: GBPUSD MACD and RSI are flat but support comes in at 1.297 and we see a rise to 1.3055 enter at 1.2998. Below 1.297 to open 1.2916 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.89 for 106.38
Short-term view: USDJPY support comes in at 105.89 MACD and RSI have a bullish bias. Hence, we see a bounce to 106.38 enter at 106.05. Below 105.89 to open 105.6 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Support at 0.7254 for 0.7318
Short-term view: AUDUSD support comes in at 0.7254 MACD and RSI have a bullish bias. Hence, we see a bounce to 0.7318 enter at 0.7271. Below 0.7254 to open 0.7219 | | | | | | TraderMade
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