| | | | | FX Strategy 22 Oct 2020 | | | In the G10 FX Market, JPY and NZD are the top gainers today, up 0.03% and 0.02% versus the dollar while AUD and SEK are the top losers, down -0.26% and -0.23% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The UK 10-year was trading at 0.249, up 1.6bp. The Japan 10-year was trading at 0.032, up 0.5bp. The German 10-year was trading at -0.591, down -0.5bp. The US 10-year was trading at 0.811, down -1.0bp. | | | In the Asian equities, markets were trading weak today. The Hang Seng was trading at 24741.0, down -0.05%. The Kospi was trading at 2355.05, down -0.67%. The Nikkei 225 was trading at 23474.27, down -0.7%. In the European equities, indices were trading weaker today. The Euro Stoxx 50 was trading at 3149.06, down -0.99%. The FTSE 100 was trading at 5728.93, down -0.82%. The DAX 30 was trading at 12393.25, down -1.31%. | | | Looking at Equity Futures so far, the SP500 Futures was trading at 3411.88, down -0.6%. The Euro Stoxx 50 Futures was trading at 3140.0, down -0.98%. The FTSE100 Futures was trading at 5702.5, down -0.74%. | | | In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures was trading at 41.68, down -0.12%. The WTI Crude Futures was trading at 39.95, down -0.2%. | | | In terms of economic data releases, we have seen German GfK Consumer Confidence for November (Actual -3.1 v Forecast 3), French Business Confidence (Actual 93 v Forecast 95) and Business Climate Indicator (Actual 90 v Forecast 88) for October plus Consumer Confidence from Turkey (Actual 81.9 v Forecast 79) for October. Looking forward to the morning session, BoE's Haldane and Governor Bailey are speaking at 08:30 GMT and 09:25 GMT respectively. UK CBI Industrial Trends Orders for October (Previous -48 v Forecast -42) and CBI Business Optimism Index Q4 (Previous -1 v Forecast -14) are released at 10:00 GMT. The TCMB Interest Rate Decision follows at 11:00 GMT (Previous 10.25% v Forecast 12%) rounds-off the morning session. | | | For the afternoon session, we start with weekly US Initial Jobless Claims (Previous 898K v Forecast 915K) and Continuing Claims (Previous 10018K v Forecast 9750K) at 12:30 GMT. At 14:00 GMT we have Euro Area Consumer Confidence Flash for October (Previous -13.9 v Forecast -14.6) alongside US Existing Home Sales MoM for September (Previous 2.4% v Forecast 3%) plus we will see the FDA Hearing on COVID-19 Vaccines. Fed's Barkin is speaking at 17:10 GMT and concludes the session. Later in the evening we have Australian data, with Markit Manufacturing PMI Flash (Previous 55.4 v Forecast 55.6) and Markit Services PMI Flash (Previous 50.8 v Forecast 51) at 22:00 GMT with Japanese Inflation Rate YoY for September following at 23:30 GMT (Previous 0.2% v Forecast 0.1%). | | | 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: Resistance at 1.1886 for 1.1794
Short-term view: EURUSD MACD and RSI are flat but resistance comes in at 1.1886 and we see a dip to 1.1794 enter at 1.1856. Above 1.1886 to open 1.1913 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Support at 1.3088 for 1.3236
Short-term view: GBPUSD support comes in at 1.3088 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.3236 enter at 1.3122. Below 1.3088 to open 1.2999 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Resistance at 104.82 for 104.11
Short-term view: USDJPY resistance comes in at 104.82 MACD and RSI have a bearish bias. Hence, we see a dip to 104.11 enter at 104.59. Above 104.82 to open 105.3 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Support at 0.7061 for 0.7155
Short-term view: AUDUSD support comes in at 0.7061 MACD and RSI have a bullish bias. Hence, we see a bounce to 0.7155 enter at 0.7092. Below 0.7061 to open 0.7005 | | | | | | TraderMade
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