| | | | | FX Strategy 01 Oct 2020 | | | In the G10 FX Market, AUD and NOK are the top gainers today, up 0.37% and 0.3% versus the dollar while USD and JPY are the top losers. In the rates market, global yields were trading mixed today. The UK 10-year was trading at 0.235, up 1.7bp. The US 10-year was trading at 0.697, up 1.1bp. The German 10-year was trading at -0.515, up 0.6bp. The Japan 10-year was trading at 0.007, down -0.5bp. | | | In the Asian equities, markets were trading weak today. The Nikkei 225 was trading at 23184.93, down -0.0%. In the European equities, indices were trading stronger today. The FTSE 100 was trading at 5912.25, up 0.79%. The DAX 30 was trading at 12794.4, up 0.26%. The Euro Stoxx 50 was trading at 3214.85, up 0.67%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 5890.2, up 0.83%. The SP500 Futures was trading at 3377.38, up 0.76%. The Euro Stoxx 50 Futures was trading at 3206.0, up 0.38%. | | | In the Energy space, Oil futures were trading mixed today. The Brent Crude Futures was trading at 42.32, up 3.35%. The WTI Crude Futures was trading at 40.16, down -0.15%. | | | In terms of economic data releases, we have already seen Japanese Jibun Bank Manufacturing PMI Final for September (Actual 47.7 v Forecast 47.3) and Indonesian Inflation Rate YoY for September (Actual 1.42% v Forecast 1.5%). During this morning's session we have multiple Markit Manufacturing PMI data releases for September for Russia, Spain, Italy, France, Germany, UK and the Euro Area. At 09:00 GMT we have multiple data releases for the Euro Area (August) with Unemployment Rate (Previous 7.9% v Forecast 8.2%), PPI MoM (Actual 0.6% v Consensus 0.1%) and PPI YoY (Previous -3.3% v Forecast -2.6%). At 11:00 GMT we look forward to Mexican Business Confidence for September (Previous 38.1 v Forecast 38) alongside the summary of the Turkish MPC Meeting. | | | This afternoon we start with US Personal Spending MoM (Previous 1.9% v Forecast 0.8%) and Personal Income MoM (Previous 0.4% v Forecast -2%) alongside weekly US Initial Jobless (Previous 870K v Forecast 855K) and Continuing Claims (Previous 12580K v Forecast 12300K) - these US figures are all released at 12:30 GMT. At 14:00 GMT we have US data releases, with ISM Manufacturing Prices (Previous 59.5 v Forecast 58), ISM Manufacturing New Orders (Previous 67.6 v Forecast 64), ISM Manufacturing Employment (Previous 46.4 v Forecast 47) and ISM Manufacturing PMI (Previous 46.4 v Forecast 47) all for September period. Fed's Williams and ECB's Lane are speaking at 15:00 GMT and 15:45 GMT respectively. Later this evening we have Japan Unemployment Rate for August (Previous 2.9% v Forecast 3%). | | | 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 1.172 for 1.1791
Short-term view: EURUSD MACD and RSI are flat but support comes in at 1.172 and we see a rise to 1.1791 enter at 1.1741. Below 1.172 to open 1.1685 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Support at 1.2891 for 1.2976
Short-term view: GBPUSD support comes in at 1.2891 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.2976 enter at 1.2919. Below 1.2891 to open 1.2839 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Resistance at 105.71 for 105.29
Short-term view: USDJPY resistance comes in at 105.71 MACD and RSI have a bearish bias. Hence, we see a dip to 105.29 enter at 105.57. Above 105.71 to open 105.97 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Support at 0.7146 for 0.7221
Short-term view: AUDUSD support comes in at 0.7146 MACD and RSI have a bullish bias. Hence, we see a bounce to 0.7221 enter at 0.7171. Below 0.7146 to open 0.7117 | | | | | | TraderMade
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