| | | | | FX Strategy 30 Sep 2020 | | | In the G10 FX Market, JPY and USD are the top gainers today while NOK and CHF are the top losers, down -0.25% and -0.22% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The German 10-year was trading at -0.539, up 0.7bp. The UK 10-year was trading at 0.187, up 0.7bp. The Japan 10-year was trading at 0.014, up 0.7bp. The US 10-year was trading at 0.645, down -0.6bp. | | | In the Asian equities, markets were trading mixed today. The Hang Seng was trading at 23456.5, up 0.78%. The Nikkei 225 was trading at 23185.12, down -1.5%. In the European equities, indices were trading weaker today. The FTSE 100 was trading at 5884.38, down -0.22%. The Euro Stoxx 50 was trading at 3199.03, down -0.48%. The DAX 30 was trading at 12752.85, down -0.57%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 5856.5, down -0.25%. The Euro Stoxx 50 Futures was trading at 3188.0, down -0.47%. The SP500 Futures was trading at 3312.62, down -0.63%. | | | In the Energy space, Oil futures were trading mixed today. The Brent Crude Futures was trading at 41.26, up 0.56%. The WTI Crude Futures was trading at 39.06, down -0.59%. | | | In terms of economic data releases, overnight we have already had Chinese NBS Manufacturing PMI for September (Actual 51.5 v Forecast 51.4), Caixin Manufacturing PMI for September (Actual 53 v Forecast 53.4) plus Australian Building Permits MoM for August (Actual -1.6% v Forecast -0.5%). We have also seen YoY Housing Starts from Japan (Actual -9.1% v Forecast -10.2%) plus German data for August with Unemployment Rate Harmonised (Actual 4.4% v Forecast 4.6%), Retail Sales MoM (Actual 3.1% v Forecast 0.5%) and YoY (Actual 3.7% v Forecast 3.4%). Finally, from this morning's data releases we have see UK GDP Growth Rate QoQ Final (Actual -19.8% v Forecast -20.4%) and YoY Final Q2 (Actual -21.5% v Forecast -21.7%). ECB's President Lagarde is also currently speaking. | | | A busy day of economic data releases and speakers awaits, at 07:55 GMT German Unemployment Rate is released (Actual 6.4% v Forecast 6.5%) and BoE's Haldane is speaking at 08:30 GMT with Bundesbank's Wuermeling also speaking at 11:30 GMT. This afternoon at 12:00 GMT we expect the Brazilian Unemployment Rate for July (Previous 13.3% v Forecast 13.6%) with US ADP Employment Change for September released at 12:15 GMT (Previous 428K v Forecast 610K). All eyes are on the 12:30 GMT data releases for US GDP Growth Rate QoQ Final Q2 (Previous -5% v Forecast -33%), US GDP Price Index QoQ Final Q2 (Previous 1.7% v Forecast -2.3%) and Canadian GDP MoM for July (Previous 6.5% v Forecast 3%). US Chicago PMI for September follows (Previous 51.2 v Forecast 50.8) at 13:45 GMT with US Pending Home Sales at 14:00 GMT (Previous 15.5% v Forecast 10%). | | | 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 1.1717 for 1.1772
Short-term view: EURUSD support comes in at 1.1717 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.1772 enter at 1.1735. Below 1.1717 to open 1.1688 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.2861 for 1.2781
Short-term view: GBPUSD MACD and RSI are flat but resistance comes in at 1.2861 and we see a dip to 1.2781 enter at 1.2838. Above 1.2861 to open 1.29 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.43 for 105.82
Short-term view: USDJPY MACD and RSI are flat but support comes in at 105.43 and we see a rise to 105.82 enter at 105.56. Below 105.43 to open 105.19 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Support at 0.7088 for 0.7158
Short-term view: AUDUSD support comes in at 0.7088 MACD and RSI have a bullish bias. Hence, we see a bounce to 0.7158 enter at 0.7111. Below 0.7088 to open 0.7044 | | | | | | TraderMade
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