| | | | | FX Strategy 27 Oct 2020 | | | In the G10 FX Market, SEK and USD are the top gainers today while CAD and EUR are the top losers, down -0.64% and -0.43% versus the dollar, respectively. In the rates market, global yields were trading weaker today. The German 10-year was trading at -0.58, down -0.3bp. The UK 10-year was trading at 0.277, down -0.4bp. The Japan 10-year was trading at 0.03, down -0.9bp. The US 10-year was trading at 0.803, down -3.8bp. | | | In the Asian equities, markets were trading weak today. The Kospi was trading at 2343.91, down -0.72%. The Nikkei 225 was trading at 23494.34, down -0.09%. In the European equities, indices were trading weak today. The FTSE 100 was trading at 5792.01, down -1.16%. The Euro Stoxx 50 was trading at 3105.25, down -2.93%. The DAX 30 was trading at 12177.18, down -3.71%. | | | Looking at Equity Futures so far, the SP500 Futures was trading at 3394.88, down -1.65%. The FTSE100 Futures was trading at 5767.5, down -1.0%. The Euro Stoxx 50 Futures was trading at 3100.0, down -2.64%. | | | In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures was trading at 40.81, down -2.3%. The WTI Crude Futures was trading at 38.59, down -3.16%. | | | In terms of economic data releases, we have already seen Chinese Industrial Profits (YTD) YoY for September (Actual -2.4% v Forecast -1.6%), French PPI MoM for September (Actual 0.2% v Forecast 0.3%) and Spanish Unemployment Rate Q3 (Actual 16.26% v Forecast 16.5%). This morning we look forward to South African Unemployment Rate Q3 (Previous 23.3% v Forecast 26%) and Unemployed Persons Q3 (Previous 4.3M v Forecast 7.9M) at 09:30 GMT. At 11:00 GMT we have French Unemployment Benefit Claims (Previous -171K v Forecast 30K) & Jobseekers Total (Previous 3621.5K v Forecast 3651.5K) for September alongside CBI Distributive Trades for October (Previous 11 v Forecast -6). Mexican Balance of Trade for September follows at 12:00 GMT (Previous $6.116B v Forecast $4.4B). | | | The afternoon session starts with US September data, firstly at 12:30 GMT with Durable Goods Orders MoM (Previous 0.4% v Forecast 0.4%), Durable Goods Orders Ex Transport MoM (Previous 0.4% v Forecast 0.3%) and Durable Goods Ex Defense MoM (Previous 0.7% v Forecast 0.1%). At 13:00 GMT we expect US S&P/Case-Schiller Home Price YoY (Previous 3.9% v Forecast 3.9%) and MoM (Previous 0.6% v Forecast 0.3%). At 14:00 GMT US CB Consumer Confidence for October (Previous 101.8 v Forecast 101.5) will be released, at 16:00 GMT Russian Business Confidence for October is also released (Previous -5 v Forecast -6) followed by Bundesbank's Balz speaking at 17:00 GMT. Later this evening we have South Korean Consumer Confidence for October (Previous 79.4 v Forecast 81). | | | 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 1.1838 for 1.1759
Short-term view: EURUSD resistance comes in at 1.1838 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1759 enter at 1.1812. Above 1.1838 to open 1.1888 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.3063 for 1.2959
Short-term view: GBPUSD resistance comes in at 1.3063 MACD and RSI have a bearish bias. Hence, we see a dip to 1.2959 enter at 1.3029. Above 1.3063 to open 1.3107 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 104.53 for 105.12
Short-term view: USDJPY support comes in at 104.53 MACD and RSI have a bullish bias. Hence, we see a bounce to 105.12 enter at 104.72. Below 104.53 to open 104.34 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7166 for 0.7108
Short-term view: AUDUSD resistance comes in at 0.7166 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7108 enter at 0.7147. Above 0.7166 to open 0.7191 | | | | | | TraderMade
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