| | | | | FX Strategy 16 Oct 2020 | | | In the G10 FX Market, SEK and JPY are the top gainers today, up 0.17% and 0.11% versus the dollar while NOK and CHF are the top losers, down -0.2% and -0.12% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The UK 10-year was trading at 0.181, up 0.6bp. The Japan 10-year was trading at 0.019, up 0.3bp. The German 10-year was trading at -0.614, down -0.6bp. The US 10-year was trading at 0.731, down -0.8bp. | | | In the Asian equities, markets were trading mixed today. The Hang Seng was trading at 24389.0, up 0.95%. The Kospi was trading at 2341.53, down -0.83%. The Nikkei 225 was trading at 23410.63, down -0.41%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 12771.25, up 0.53%. The FTSE 100 was trading at 5896.25, up 1.09%. The Euro Stoxx 50 was trading at 3220.35, up 0.87%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 5867.8, up 1.16%. The Euro Stoxx 50 Futures was trading at 3210.0, up 0.91%. The SP500 Futures was trading at 3479.62, up 0.12%. | | | In the Energy space, Oil futures were trading weaker today. The WTI Crude Futures was trading at 40.52, down -1.07%. The Brent Crude Futures was trading at 42.67, down -1.14%. | | | In terms of economic data releases, we have seen this morning the Euro Area New Car Registrations YoY for September (Actual 3.1% v Forecast -2%). Looking forward to the morning session, at 08:00 GMT we have Italian Inflation data for September with the Inflation Rate YoY Final (Previous -0.5% v Forecast -0.5%) and MoM (Previous 0.3% v Forecast -0.6%) plus the Harmonised Inflation Rate YoY Final (Previous -0.5% v Forecast -0.9%) ad MoM Final (Previous -1.3% v Forecast 1%). At 09:00 GMT, Euro Area Balance of Trade for August is released (Previous €27.9B v Forecast €15.1B) alongside Euro Area September data for Core Inflation Rate YoY Final (Previous 0.4% v Forecast 0.2%), Inflation Rate YoY Final (Previous -0.2% v Forecast -0.3%) and MoM Final (Previous -0.4% v Forecast 0.1%). | | | All eyes are on the afternoon session, at 12:30 GMT we have the headline data release from the US with Retail Sales MoM (Previous 0.6% v Forecast 0.5%) and YoY (Previous 2.6% v Forecast 2.2%) plus Retail Sales Ex Autos MoM (Previous 0.7% v Forecast 0.4%). US Industrial Production for September follows at 13:15 GMT with YoY (Previous -7.7% v Forecast -6.6%) and MoM (Previous 0.4% v Forecast 0.5%). Fed's Williams is then speaking at 13:45 GMT. US Business Inventories MoM for August follows at 13:45 GMT (Previous 0.1% v Forecast 0.3%) alongside October data for Michigan Current Conditions Prel (Previous 87.8 v Forecast 87), Consumer Sentiment Prel (Previous 80.4 v Forecast -79) and Consumer Expectations Prel (Previous 75.6 v Forecast 75.1). | | | 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: Support at 1.1678 for 1.1747
Short-term view: EURUSD MACD and RSI are flat but support comes in at 1.1678 and we see a rise to 1.1747 enter at 1.1701. Below 1.1678 to open 1.1648 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.2942 for 1.2853
Short-term view: GBPUSD resistance comes in at 1.2942 MACD and RSI have a bearish bias. Hence, we see a dip to 1.2853 enter at 1.2913. Above 1.2942 to open 1.2993 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Resistance at 105.6 for 104.9
Short-term view: USDJPY MACD and RSI are flat but resistance comes in at 105.6 and we see a dip to 104.9 enter at 105.37. Above 105.6 to open 105.76 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7107 for 0.7042
Short-term view: AUDUSD resistance comes in at 0.7107 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7042 enter at 0.7086. Above 0.7107 to open 0.7158 | | | | | | TraderMade
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