| | | | | FX Strategy 29 Oct 2020 | | | In the G10 FX Market, CAD and NZD are the top gainers today, up 0.19% and 0.18% versus the dollar while EUR and CHF are the top losers, down -0.13% and -0.12% versus the dollar, respectively. In the rates market, global yields were trading firm today. The UK 10-year was trading at 0.221, up 0.8bp. The US 10-year was trading at 0.779, up 0.5bp. The German 10-year was trading at -0.622, up 0.5bp. The Japan 10-year was trading at 0.026, up 0.4bp. | | | In the Asian equities, markets were trading weaker today. The Kospi was trading at 2326.67, down -0.79%. The Nikkei 225 was trading at 23331.94, down -0.37%. The Hang Seng was trading at 24561.0, down -0.6%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 11640.9, up 0.7%. The FTSE 100 was trading at 5600.45, up 0.32%. The Euro Stoxx 50 was trading at 2980.65, up 0.58%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 5580.5, up 0.74%. The SP500 Futures was trading at 3298.88, up 1.08%. The Euro Stoxx 50 Futures was trading at 2972.0, up 0.88%. | | | In the Energy space, Oil futures were trading mixed today. The Brent Crude Futures was trading at 39.53, up 1.05%. The WTI Crude Futures was trading at 37.32, down -0.19%. | | | In terms of economic data releases, we have already seen Australian Export Prices QoQ Q3 (Actual -5.1% v Forecast 1.8%) and Import Prices QoQ Q3 (Actual -3.5% v Forecast 1.5%). We have also had the BoJ Interest Rate Decision, as expected unchanged from current -0.1%, plus Japanese Consumer Confidence for October (Actual 33.6 v Forecast 34.8) which was released earlier this morning. More recently, the German Unemployment Rate Harmonised (Actual 4.5% v Forecast 4.5%) for September was also released onto the wires. Moving into the morning session, at 08:55 GMT we have the German Unemployment Rate for October (Previous 6.3% v Forecast 6.5%) with Italian Consumer Confidence (Previous 103.4 v Forecast 101.5) and Business Confidence (Previous 92.1 v Forecast 89.1) for October released at 09:00 GMT. At 09:30 GMT we look forward to UK September data, with BoE Consumer Credit (Previous £0.3B v Forecast £0.74B), Mortgage Approvals (Previous 84.7K v Forecast 76K) and Mortgage Lending (Previous £3.1B v Forecast £3.5B). At 10:00 GMT we have Euro Area data for October with Consumer Confidence (Previous -13.9 v Forecast -15.5) and Economic Sentiment (Previous 91.1 v Forecast 86.2). | | | The afternoon session starts with headline US GDP Growth Rate QoQ Adv Q3 (Previous -31.4% v Forecast 30%), weekly US Initial Jobless (Previous 787K v Forecast 750K) and Continuing Claims (Previous 8373K v Forecast 7900K). ECB Interest Rate Decision follows at 12:45 GMT (Previous 0% v Forecast 0%) with Press Conference following at 13:30 GMT. US Pending Home Sales for September is released at 14:00 GMT (Previous 8.8% v Forecast 4%). Later this evening, Japanese Unemployment Rate for September is released at 23:30 GMT (Previous 3.0% v Forecast 2.9%). | | | 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 1.1711 for 1.1753
Short-term view: EURUSD MACD and RSI are flat but support comes in at 1.1711 and we see a rise to 1.1753 enter at 1.1725. Below 1.1711 to open 1.1676 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Support at 1.2911 for 1.3059
Short-term view: GBPUSD support comes in at 1.2911 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.3059 enter at 1.296. Below 1.2911 to open 1.284 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Resistance at 104.55 for 104.1
Short-term view: USDJPY MACD and RSI are flat but resistance comes in at 104.55 and we see a dip to 104.1 enter at 104.4. Above 104.55 to open 104.78 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7081 for 0.7004
Short-term view: AUDUSD resistance comes in at 0.7081 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7004 enter at 0.7059. Above 0.7081 to open 0.7123 | | | | | | TraderMade
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