| | | | | FX Strategy 14 Oct 2020 | | | In the G10 FX Market, CHF and USD are the top gainers today while GBP and NOK are the top losers, down -0.43% and -0.22% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The Japan 10-year was trading at 0.026, up 0.7bp. The US 10-year was trading at 0.731, up 0.2bp. The German 10-year was trading at -0.567, down -0.8bp. The UK 10-year was trading at 0.223, down -1.2bp. | | | In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 23626.73, up 0.11%. The Hang Seng was trading at 24579.5, down -0.07%. The Kospi was trading at 2380.48, down -0.94%. In the European equities, indices were trading mixed today. The FTSE 100 was trading at 5984.71, up 0.25%. The Euro Stoxx 50 was trading at 3270.05, down -0.28%. The DAX 30 was trading at 12998.7, down -0.16%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 5954.0, up 0.3%. The SP500 Futures was trading at 3512.75, up 0.23%. The Euro Stoxx 50 Futures was trading at 3260.0, down -0.21%. | | | In the Energy space, Oil futures were trading weak today. The Brent Crude Futures was trading at 42.14, down -0.73%. The WTI Crude Futures was trading at 39.87, down -0.82%. | | | In terms of economic data releases, we have already had the Interest Rate Decision from South Korea, as expected unchanged from the Forecast of 0.5%. We have also seen August data from Japan with Industrial Production MoM Final (Actual 1.0% v Forecast 1.7%), Capacity Utilization MoM (Actual 2.9% v Forecast 8%) and Industrial Production YoY Final (Actual -13.8% v Forecast -13.3%). We have also seen Spanish data for September with the Inflation Rate YoY Final (Actual -0.4% v Forecast -0.4%), Inflation Rate MoM Final (Actual 0.2% v Forecast 0.2%), Harmonised Inflation Rate YoY Final (Actual -0.6% v Forecast -0.6%) and the Harmonised Inflation Rate MoM Final (Actual 0.4% v Forecast 0.1%). Looking forward to the morning session, ECB President Lagarde is speaking from 08:00 GMT with Euro Area Industrial Production YoY (Actual -7.7% v Forecast -7.2%) and MoM (Actual 4.1% v Forecast 0.5%) being released at 09:00 GMT. ECB's Mersch and Lane are speaking at 11:00 GMT and 12:00 GMT respectively. | | | Starting the afternoon session, we look forward to September data from the US at 12:30 GMT, with headline PPI MoM (Previous 0.3% v Forecast 0.3%) and YoY (Previous -0.2% v Forecast 0.4%) alongside Core PPI MoM (Previous 0.4% v Forecast 0.2%) and YoY (Previous 0.6% v Forecast 1%). Fed's Clarida is then speaking at 13:00 GMT, Bank of Canada's Lane is speaking at 14:30 GMT which concludes the afternoon trading session. This evening, Fed Quarles, RBA Governor Lowe and Fed's Kaplan are speaking at 19:00 GMT, 21:45 GMT and 22:00 GMT respectively. | | | 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 1.1764 for 1.1711
Short-term view: EURUSD resistance comes in at 1.1764 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1711 enter at 1.1747. Above 1.1764 to open 1.1797 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.2976 for 1.2827
Short-term view: GBPUSD resistance comes in at 1.2976 MACD and RSI have a bearish bias. Hence, we see a dip to 1.2827 enter at 1.2927. Above 1.2976 to open 1.3031 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.3 for 105.81
Short-term view: USDJPY MACD and RSI are flat but support comes in at 105.3 and we see a rise to 105.81 enter at 105.47. Below 105.3 to open 105.11 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7176 for 0.7135
Short-term view: AUDUSD resistance comes in at 0.7176 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7135 enter at 0.7162. Above 0.7176 to open 0.7202 | | | | | | TraderMade
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