| | | | | FX Strategy 20 Oct 2020 | | | In the G10 FX Market, USD and EUR are the top gainers today while NZD and AUD are the top losers, down -0.58% and -0.42% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The German 10-year was trading at -0.627, up 0.1bp. The US 10-year was trading at 0.769, down -0.3bp. The UK 10-year was trading at 0.168, down -0.4bp. The Japan 10-year was trading at 0.017, down -0.5bp. | | | In the Asian equities, markets were trading mixed today. The Kospi was trading at 2358.41, up 0.5%. The Hang Seng was trading at 24504.5, down -0.15%. The Nikkei 225 was trading at 23567.04, down -0.44%. In the European equities, indices were trading weak today. The Euro Stoxx 50 was trading at 3230.85, down -0.12%. The FTSE 100 was trading at 5874.3, down -0.18%. The DAX 30 was trading at 12804.8, down -0.39%. | | | Looking at Equity Futures so far, the SP500 Futures was trading at 3438.38, up 0.46%. The Euro Stoxx 50 Futures was trading at 3222.0, down -0.43%. The FTSE100 Futures was trading at 5845.8, down -0.3%. | | | In the Energy space, Oil futures were trading mixed today. The WTI Crude Futures was trading at 41.01, up 0.44%. The Brent Crude Futures was trading at 42.5, down -0.28%. | | | In terms of economic data releases, overnight we have had Chinese data with Loan Prime Rate 1Y (Actual 3.85% v Forecast 3.85%) and House Price Index YoY for September (Actual 4.6% v Forecast 4.7%). We have also seen German PPI MoM (Actual 0.4% v Forecast 0.2%) and YoY (Actual -1% v Forecast -1.1%) for September also. Looking forward to the morning session, we look forward to Euro Area Current Account for August (Previous €25.5B v Forecast €26.8B) and Italian Construction Output YoY for August (Previous -1.1% v Forecast -2.6%) at 08:00 GMT with Italian Current Account for August (Previous €9308B v Forecast €4800B) released at 09:00 GMT. BoE's Vlieghe and Bundesbank's Balz are speaking at 09:30 GMT and 11:00 GMT respectively. | | | Moving into the afternoon session, we start with US Housing Starts (Previous -5.1% v Forecast 2.8%) and US Building Permits (Previous -0.9% v Forecast 1.8%) both for September and released at 12:30 GMT. Fed's Quarles is then speaking at 14:50 GMT. At 16:00 GMT we look forward to data releases from Russia, with both the Unemployment Rate (Previous 6.4% v Forecast 6.5%) and Retail Sales (Previous -2.7% v Forecast -1.8%) for September time period. Fed's Evans then speaks at 17:00 GMT, followed by Russian GDP YoY (Previous -4.3% v Forecast -3.6%) for September and then concluding with South Korean PPI MoM (Previous 0.5% v Forecast 0.7%) and YoY (Previous -0.5% v Forecast 0.1) for September. | | | 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 1.1718 for 1.1808
Short-term view: EURUSD support comes in at 1.1718 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.1808 enter at 1.1748. Below 1.1718 to open 1.1665 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.2956 for 1.2887
Short-term view: GBPUSD resistance comes in at 1.2956 MACD and RSI have a bearish bias. Hence, we see a dip to 1.2887 enter at 1.2934. Above 1.2956 to open 1.3013 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.32 for 105.73
Short-term view: USDJPY support comes in at 105.32 MACD and RSI have a bullish bias. Hence, we see a bounce to 105.73 enter at 105.46. Below 105.32 to open 105.21 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7081 for 0.7024
Short-term view: AUDUSD resistance comes in at 0.7081 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7024 enter at 0.7062. Above 0.7081 to open 0.7102 | | | | | | TraderMade
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