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FX Strategy 14 Sep 2020 |
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In the G10 FX Market, NZD and NOK are the top gainers today, up 0.49% and 0.34% versus the dollar while AUD and USD are the top losers. In the rates market, global yields were trading weak today. The US 10-year was trading at 0.664, down -0.5bp. The Japan 10-year was trading at 0.016, down -0.9bp. The German 10-year was trading at -0.493, down -1.0bp. The UK 10-year was trading at 0.164, down -2.1bp. |
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In the Asian equities, markets were trading stronger today. The Hang Seng was trading at 24665.75, up 0.66%. The Nikkei 225 was trading at 23559.3, up 0.65%. The Kospi was trading at 2427.91, up 1.3%. In the European equities, indices were trading firm today. The DAX 30 was trading at 13334.25, up 1.0%. The FTSE 100 was trading at 6079.98, up 0.79%. The Euro Stoxx 50 was trading at 3344.65, up 0.87%. |
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Looking at Equity Futures so far, the SP500 Futures was trading at 3373.38, up 1.19%. The Euro Stoxx 50 Futures was trading at 3334.0, up 0.39%. The FTSE100 Futures was trading at 6048.8, up 0.05%. |
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In the Energy space, Oil futures were trading firm today. The WTI Crude Futures was trading at 37.52, up 0.51%. The Brent Crude Futures was trading at 39.95, up 0.3%. |
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In terms of economic data, we have already seen Chinese House Price Index YoY for August (Actual 4.8% v Forecast 4.8%) and Japanese Industrial Production MoM Final for July (Actual 8.7% v Forecast 8%). We have also had July data from Turkey with Retail Sales from July YoY (Actual 11.9% v Forecast 1%) and MoM (Actual 9.5% v Forecast 5.6%) alongside Industrial Production YoY (Actual 4.4% v Forecast 1.8%). |
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This morning we look forward to Euro Area Industrial Production July YoY (Previous -12.3% v Forecast -7.6%) and MoM (Previous 9.1% v Forecast 3.7%) at 09:00 GMT. At 11:30 GMT we have BCB Focus Market Readout with IBC-BR Economic Activity for July (Previous 4.89% v Forecast 3.9%) at 12:00 GMT. Indian Inflation Rate YoY for August is also released at 12:00 GMT. |
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10-Year Yields Daily Chart (1-month) |
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Daily FX Pivots |
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Brent Crude Daily Chart (1-month) |
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Forex Chart and Technical Analysis |
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EURUSD Chart (Two-week) |
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Strategy: Resistance at 1.1876 for 1.1815
Short-term view: EURUSD MACD and RSI are flat but resistance comes in at 1.1876 and we see a dip to 1.1815 enter at 1.1856. Above 1.1876 to open 1.1906 |
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GBPUSD Chart (Two-week) |
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Strategy: Resistance at 1.2854 for 1.2808
Short-term view: GBPUSD MACD and RSI are flat but resistance comes in at 1.2854 and we see a dip to 1.2808 enter at 1.2839. Above 1.2854 to open 1.2913 |
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USDJPY Chart (Two-week) |
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Strategy: Resistance at 106.16 for 105.75
Short-term view: USDJPY resistance comes in at 106.16 MACD and RSI have a bearish bias. Hence, we see a dip to 105.75 enter at 106.02. Above 106.16 to open 106.26 |
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AUDUSD Chart (Two-week) |
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Strategy: Resistance at 0.731 for 0.7256
Short-term view: AUDUSD MACD and RSI are flat but resistance comes in at 0.731 and we see a dip to 0.7256 enter at 0.7292. Above 0.731 to open 0.7335 |
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