| | | | | FX Strategy 13 Oct 2020 | | | In the G10 FX Market, NZD and USD are the top gainers today while AUD and NOK are the top losers, down -0.46% and -0.45% versus the dollar, respectively. In the rates market, global yields were trading weaker today. The Japan 10-year was trading at 0.026, down -0.1bp. The US 10-year was trading at 0.757, down -0.7bp. The German 10-year was trading at -0.553, down -1.0bp. The UK 10-year was trading at 0.257, down -1.6bp. | | | In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 23601.78, up 0.18%. The Kospi was trading at 2403.15, down -0.02%. The Hang Seng was trading at 24587.76, down -0.25%. In the European equities, indices were trading weaker today. The Euro Stoxx 50 was trading at 3291.35, down -0.21%. The FTSE 100 was trading at 5993.15, down -0.14%. The DAX 30 was trading at 13103.6, down -0.26%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 5968.3, down -0.15%. The Euro Stoxx 50 Futures was trading at 3284.0, down -0.3%. The SP500 Futures was trading at 3517.88, down -0.42%. | | | In the Energy space, Oil futures were trading firm today. The Brent Crude Futures was trading at 41.86, up 0.34%. The WTI Crude Futures was trading at 39.55, up 0.3%. | | | In terms of economic data releases, overnight we have seen September data from China with Imports YoY (Actual 13.2% v Forecast 0.5%), Exports YoY (Actual 9.9% v Forecast 9%) and Balance of Trade (Actual $37B v Forecast $60B). More recently this morning we have also had September German data with the Inflation Rate YoY Final (Actual -0.2% v Forecast -0.2%), Inflation Rate MoM Final (Actual -0.2% v Forecast -0.2%), Harmonised Inflation Rate YoY Final (Actual -0.4% v Forecast -0.4%) and Harmonised Inflation Rate MoM Final (Actual -0.4% v Forecast -0.4%). We have also seen UK Claimant Count Change for September (Actual 28K v Forecast 72K) and UK Unemployment Rate for August (Actual 4.5% v Forecast 4.2%). Looking forward to the morning session, at 09:00 GMT we have the German ZEW Economic Sentiment Index for October (Previous 77.4 v Forecast 70) alongside Euro Area ZEW Economic Sentiment for October (Previous 73.9 v Forecast 60). Both Wuermeling and Buch from the Bundesbank are speaking at 09:00 GMT also. | | | Moving into the afternoon session, we start at 12:30 GMT with US Core Inflation Rate YoY (Previous 1.7% v Forecast 1.7%) and Inflation Rate YoY (Previous 1.3% v Forecast 1.5%) both for the September period. At 14:00 GMT we expect the Brazilian Confidence figure (Previous 61.6 v Forecast 62) and US IBD/TIPP Economic Optimism (Previous 45 v Forecast 43) both for October. Later this evening we finish the day with Australian Westpac Consumer Confidence Index (Previous 93.8 v Forecast 94.5) and Westpac Consumer Confidence Change (Previous 18% v Forecast 0.7%) for October. | | | 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 1.1808 for 1.175
Short-term view: EURUSD resistance comes in at 1.1808 MACD and RSI have a bearish bias. Hence, we see a dip to 1.175 enter at 1.1789. Above 1.1808 to open 1.183 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Support at 1.2974 for 1.3098
Short-term view: GBPUSD MACD and RSI are flat but support comes in at 1.2974 and we see a rise to 1.3098 enter at 1.3015. Below 1.2974 to open 1.2943 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.1 for 105.67
Short-term view: USDJPY MACD and RSI are flat but support comes in at 105.1 and we see a rise to 105.67 enter at 105.29. Below 105.1 to open 104.89 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7197 for 0.7164
Short-term view: AUDUSD resistance comes in at 0.7197 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7164 enter at 0.7186. Above 0.7197 to open 0.7216 | | | | | | TraderMade
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