| | | | | FX Strategy 05 Oct 2020 | | | In the G10 FX Market, CHF and NOK are the top gainers today, up 0.3% and 0.25% versus the dollar while JPY and GBP are the top losers, down -0.29% and -0.21% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The Japan 10-year was trading at 0.022, up 0.3bp. The US 10-year was trading at 0.704, flat 0.0bp. The UK 10-year was trading at 0.238, down -0.9bp. The German 10-year was trading at -0.545, down -1.1bp. | | | In the Asian equities, markets were trading firm today. The Hang Seng was trading at 23749.0, up 1.24%. The Nikkei 225 was trading at 23312.14, up 1.23%. The Kospi was trading at 2358.0, up 1.29%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 12813.7, up 0.98%. The FTSE 100 was trading at 5965.65, up 1.08%. The Euro Stoxx 50 was trading at 3221.45, up 0.96%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 5938.5, up 1.31%. The Euro Stoxx 50 Futures was trading at 3210.0, up 1.01%. The SP500 Futures was trading at 3359.12, up 0.6%. | | | In the Energy space, Oil futures were trading stronger today. The WTI Crude Futures was trading at 37.7, up 1.75%. The Brent Crude Futures was trading at 39.84, up 1.45%. | | | In terms of economic data, from Australia we have already had September data for Markit Services PMI Final (Actual 50.8 v Forecast 50.0), Markit Composite PMI Final (Actual 51.1 v Forecast 50.5) and NAB Business Confidence (Actual -4 v Forecast -10). We have also seen South Korean Markit Manufacturing PMI for September (Actual 49.8 v Forecast 48.1) and Turkish Inflation Rate YoY for September (Actual 11.75% v Forecast 12.3%). Looking forward to the morning session, at 09:00 GMT we expect Euro Area Retail Sales for August with MoM (Previous -1.3% v Forecast 2%) and YoY (Previous 0.4% v Forecast 1.8%) with September Consumer Confidence data for Spain (Previous 49.9 v Forecast 51.5) and Mexico (Previous 34.6 v Forecast 35) being released at 10:30 GMT and 11:00 GMT respectively. Bundesbank's Weidmann is speaking at 12:00 GMT to round-off the morning session. | | | The afternoon session starts with US Markit Services PMI Final (Previous 55 v Forecast 54.4) and Markit Composite PMI Final (Previous 54.6 v Forecast 54.4) for September at 13:45 GMT. At 14:00 GMT we have multiple US ISM Non-Manufacturing data releases for September with Business Activity (Previous 62.4 v Forecast 62), Prices (Previous 64.2 v Forecast 65), New Orders (Previous 56.8 v Forecast 55), Employment (Previous 47.9 v Forecast 49) and PMI (Previous 56.9 v Forecast 55). Fed's Barkin, Evans and Bostic are also speaking at 14:00 GMT, 14:45 GMT and 19:15 GMT respectively. Later this evening, South Korean Inflation Rate YoY for September is released (Previous 0.7% v Forecast 0.7%). | | | 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 1.1745 for 1.1692
Short-term view: EURUSD resistance comes in at 1.1745 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1692 enter at 1.1728. Above 1.1745 to open 1.1774 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Support at 1.2864 for 1.2981
Short-term view: GBPUSD support comes in at 1.2864 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.2981 enter at 1.2903. Below 1.2864 to open 1.2792 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.3 for 106.03
Short-term view: USDJPY support comes in at 105.3 MACD and RSI have a bullish bias. Hence, we see a bounce to 106.03 enter at 105.54. Below 105.3 to open 104.94 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.719 for 0.7131
Short-term view: AUDUSD MACD and RSI are flat but resistance comes in at 0.719 and we see a dip to 0.7131 enter at 0.7171. Above 0.719 to open 0.7219 | | | | | | TraderMade
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