| | | | | FX Strategy 07 Oct 2020 | | | In the G10 FX Market, NOK and AUD are the top gainers today, up 0.54% and 0.53% versus the dollar while USD and JPY are the top losers. In the rates market, global yields were trading mixed today. The US 10-year was trading at 0.755, up 1.6bp. The Japan 10-year was trading at 0.032, up 0.5bp. The German 10-year was trading at -0.522, down -1.0bp. The UK 10-year was trading at 0.269, down -1.7bp. | | | In the Asian equities, markets were trading mixed today. The Hang Seng was trading at 24214.5, up 0.98%. The Kospi was trading at 2386.94, up 0.89%. The Nikkei 225 was trading at 23422.82, down -0.05%. In the European equities, indices were trading firm today. The DAX 30 was trading at 12945.6, up 0.31%. The FTSE 100 was trading at 5972.65, up 0.38%. The Euro Stoxx 50 was trading at 3238.85, up 0.17%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 5944.2, up 0.49%. The SP500 Futures was trading at 3370.88, up 0.53%. The Euro Stoxx 50 Futures was trading at 3231.0, up 0.12%. | | | In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures was trading at 42.41, down -0.56%. The WTI Crude Futures was trading at 40.32, down -0.86%. | | | In terms of economic data releases, we have already had German Industrial Production MoM for August (Actual -0.2% v Forecast 1.8%), French Balance of Trade for August (Actual €-7.7B v Forecast €-5.6B) and UK Halifax House Price Index MoM (Actual 1.6% v Forecast 0.8%) and YoY (Actual 5.2% v Forecast 6.6%) for September. | | | This morning we have Italian Retail Sales MoM (Previous -2.2% v Forecast 0.7%) and YoY (Previous -7.2% v Forecast -6.0%) for August at 08:00 GMT and US MBA Mortgage Applications for week of 2nd October '20 (Previous -4.8% v Forecast -3.5%). Moving into the afternoon session, ECB President Lagarde is speaking at 12:10 GMT with Canadian Ivey PMI for September following at 14:00 GMT (Previous 67.8 v Forecast 68). Fed's Barkin will also start speaking at 14:00 GMT. Weekly US Oil Data is released at 14:30 GMT. Later in the session at 18:00 GMT we expect the FOMC Minutes and Fed speakers Williams, Kashkari and Evans are all scheduled to be speaking throughout the evening session. At 23:50 GMT, August Current Account from Japan is released (Previous YEN1468.3B v Forecast YEN1990B). | | | 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 1.1784 for 1.1708
Short-term view: EURUSD resistance comes in at 1.1784 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1708 enter at 1.1759. Above 1.1784 to open 1.1834 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.2966 for 1.2826
Short-term view: GBPUSD resistance comes in at 1.2966 MACD and RSI have a bearish bias. Hence, we see a dip to 1.2826 enter at 1.292. Above 1.2966 to open 1.3057 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Resistance at 105.95 for 105.47
Short-term view: USDJPY MACD and RSI are flat but resistance comes in at 105.95 and we see a dip to 105.47 enter at 105.79. Above 105.95 to open 106.11 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7174 for 0.7064
Short-term view: AUDUSD resistance comes in at 0.7174 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7064 enter at 0.714. Above 0.7174 to open 0.7247 | | | | | | TraderMade
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