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FX Strategy 15 Sep 2020 |
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In the G10 FX Market, AUD and NZD are the top gainers today, up 0.42% and 0.25% versus the dollar while USD and JPY are the top losers. In the rates market, global yields were trading mixed today. The Japan 10-year was trading at 0.016, flat 0.0bp. The UK 10-year was trading at 0.192, down -0.3bp. The German 10-year was trading at -0.483, down -0.6bp. The US 10-year was trading at 0.667, down -0.9bp. |
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In the Asian equities, markets were trading mixed today. The Hang Seng was trading at 24696.0, up 0.23%. The Kospi was trading at 2443.58, up 0.65%. The Nikkei 225 was trading at 23454.89, down -0.44%. In the European equities, indices were trading mixed today. The FTSE 100 was trading at 6043.55, up 0.29%. The Euro Stoxx 50 was trading at 3319.39, up 0.08%. The DAX 30 was trading at 13189.85, down -0.03%. |
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Looking at Equity Futures so far, the SP500 Futures was trading at 3383.12, up 0.02%. The Euro Stoxx 50 Futures was trading at 3306.0, down -0.39%. The FTSE100 Futures was trading at 6013.8, down -0.33%. |
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In the Energy space, Oil futures were trading weak today. The WTI Crude Futures was trading at 37.24, down -0.05%. The Brent Crude Futures was trading at 39.55, down -0.15%. |
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In terms of economic data, we have already seen RBA Meeting Minutes and Chinese August data with Industrial Production YoY (Actual 5.6% v Forecast -0.5%), Retail Sales YoY (Actual 0.5% v Forecast 0.2%) and Unemployment Rate YoY (Actual 5.6% v Forecast 5.6%). We have also seen UK Employment data with Claimant Count Change for August (Actual 73.7K v Forecast 51K) and Employment Rate for July (Actual 4.1% v Forecast 4.1%). Bundesbank's Mauderer and ECB's Panetta are speaking at 07:00 GMT and 07:15 GMT respectively. |
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This morning we look forward to Italian Inflation Rate YoY Final for August (Previous -0.4% v Forecast -0.5%) and MoM (Previous -0.2% v Forecast 0.3%) at 08:00 GMT. At 09:00 GMT all eyes on German ZEW Economic Sentiment Index for September (Previous 71.5 v Forecast 69). |
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Moving into the afternoon session, we have August US data, including Export Prices YoY (Previous -4.4% v Forecast -3%) & MoM (Previous 0.8% v Forecast 0.6%), Import Prices YoY (Previous -3.3% v Forecast -2%) & MoM (Previous 0.7% v Forecast 0.6%) alongside NY Empire State Manufacturing Index for September (Previous 37 v Forecast 5) all being released at 12:30 GMT. August's US Industrial Production for August YoY (Previous -8.2% v Forecast -6.1%) & MoM (Previous 3% v Forecast 1%) and Manufacturing Production YoY (Previous -7.7% v Forecast -5%) and MoM (Previous 3.4% v Forecast 0.9%) are released at 13:15 GMT. |
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Later this evening we also have Japanese August data for Balance of Trade (Previous YEN11.6BN v Forecast YEN50BN), Exports YoY (Previous -19.2% v Consensus -16.1%) and Imports (Previous -22.3% v Consensus -18%) which are all released at 23:50 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: Support at 1.1861 for 1.1917
Short-term view: EURUSD support comes in at 1.1861 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.1917 enter at 1.1879. Below 1.1861 to open 1.1835 |
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GBPUSD Chart (Two-week) |
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Strategy: Support at 1.2777 for 1.2919
Short-term view: GBPUSD support comes in at 1.2777 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.2919 enter at 1.2824. Below 1.2777 to open 1.2706 |
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USDJPY Chart (Two-week) |
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Strategy: Resistance at 106.08 for 105.46
Short-term view: USDJPY resistance comes in at 106.08 MACD and RSI have a bearish bias. Hence, we see a dip to 105.46 enter at 105.88. Above 106.08 to open 106.44 |
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AUDUSD Chart (Two-week) |
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Strategy: Support at 0.7307 for 0.7346
Short-term view: AUDUSD support comes in at 0.7307 MACD and RSI have a bullish bias. Hence, we see a bounce to 0.7346 enter at 0.732. Below 0.7307 to open 0.7286 |
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