| | | | | FX Strategy 02 Oct 2020 | | | In the G10 FX Market, JPY and USD are the top gainers today while AUD and NOK are the top losers, down -0.32% and -0.26% versus the dollar, respectively. In the rates market, global yields were trading weaker today. The Japan 10-year was trading at 0.016, down -0.3bp. The German 10-year was trading at -0.547, down -1.3bp. The UK 10-year was trading at 0.216, down -1.4bp. The US 10-year was trading at 0.664, down -1.5bp. | | | In the Asian equities, markets were trading weaker today. The Nikkei 225 was trading at 23029.9, down -0.67%. In the European equities, indices were trading weak today. The Euro Stoxx 50 was trading at 3160.25, down -1.06%. The FTSE 100 was trading at 5836.63, down -0.73%. The DAX 30 was trading at 12589.15, down -1.11%. | | | Looking at Equity Futures so far, the Euro Stoxx 50 Futures was trading at 3150.0, down -0.88%. The SP500 Futures was trading at 3330.12, down -1.12%. The FTSE100 Futures was trading at 5810.8, down -0.68%. | | | In the Energy space, Oil futures were trading weaker today. The WTI Crude Futures was trading at 37.64, down -2.79%. The Brent Crude Futures was trading at 39.84, down -2.66%. | | | In terms of economic data releases, we have already had Australian Retail Sales MoM for August (Actual -4% v Forecast -4.2%), Consumer Confidence for September from Japan (Actual 32.7 v Forecast 32) and Unemployment Change from Spain for September (Actual -26.3K v Forecast 44K). We have also seen markets reacting to the positive COVID-19 result for President Trump which will undoubtedly have an impact on campaigning for the upcoming US Presidential election on 3rd November 2020. Bundesbank's Wuermeling is speaking at 08:00 GMT followed by Euro Area Inflation data releases for September with YoY Flash (Previous -0.2% v Forecast -0.3%), MoM Flash (Previous -0.4% v Forecast 0.1%) and Core Inflation Rate YoY Flash (Previous 0.4% v Forecast 0.4%). | | | This afternoon, all eyes are on US Non Farm Payroll data for September (Previous 1371K v Forecast 915K) and US Unemployment Rate (Previous 8.4% v Forecast 8.3%) which are released at 12:30 GMT. At 14:00 GMT US Factory Orders MoM for August (Previous 6.4% v Forecast 1.2%) data is released alongside September data for Michigan Consumer Expectations Final (Previous 68.5 v Forecast 73.3), Michigan Consumer Sentiment Final (Previous 74.1 v Forecast 78.9) and Michigan Current Conditions Final (Previous 82.9 v Forecast 87.5). | | | 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: Resistance at 1.1771 for 1.1691
Short-term view: EURUSD resistance comes in at 1.1771 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1691 enter at 1.1745. Above 1.1771 to open 1.1797 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.2895 for 1.2812
Short-term view: GBPUSD resistance comes in at 1.2895 MACD and RSI have a bearish bias. Hence, we see a dip to 1.2812 enter at 1.2868. Above 1.2895 to open 1.2971 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Resistance at 105.39 for 104.89
Short-term view: USDJPY resistance comes in at 105.39 MACD and RSI have a bearish bias. Hence, we see a dip to 104.89 enter at 105.22. Above 105.39 to open 105.56 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7182 for 0.7128
Short-term view: AUDUSD resistance comes in at 0.7182 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7128 enter at 0.7164. Above 0.7182 to open 0.7209 | | | | | | TraderMade
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