| | | | | FX Strategy 02 Nov 2020 | | | In the G10 FX Market, USD and CAD are the top gainers today while GBP and NOK are the top losers, down -0.46% and -0.39% versus the dollar, respectively. In the rates market, global yields were trading mixed today. The Japan 10-year was trading at 0.041, flat 0.0bp. The US 10-year was trading at 0.869, down -0.5bp. The German 10-year was trading at -0.631, down -0.6bp. The UK 10-year was trading at 0.249, down -1.4bp. | | | In the Asian equities, markets were trading stronger today. The Hang Seng was trading at 24432.7, up 1.35%. The Nikkei 225 was trading at 23295.48, up 1.39%. The Kospi was trading at 2300.16, up 1.46%. In the European equities, indices were trading mixed today. The DAX 30 was trading at 11601.7, up 0.39%. The Euro Stoxx 50 was trading at 2967.95, up 0.33%. The FTSE 100 was trading at 5568.75, down -0.15%. | | | Looking at Equity Futures so far, the SP500 Futures was trading at 3271.0, up 0.19%. The Euro Stoxx 50 Futures was trading at 2960.0, up 0.03%. The FTSE100 Futures was trading at 5534.8, down -0.52%. | | | In the Energy space, Oil futures were trading weaker today. The Brent Crude Futures was trading at 36.7, down -2.03%. The WTI Crude Futures was trading at 34.42, down -3.83%. | | | In terms of economic data releases, we have already seen Australian Building Permits MoM for September (Actual 15.4% v Forecast 1.1%), Japanese Jibun Bank Manufacturing PMI Final for October (Actual 48.7 v Forecast 46.8) and Chinese Caixin Manufacturing PMI for October (Actual 53.6 v Forecast 52.8). We have also seen Markit Manufacturing PMI for October for India (Actual 58.9 v Forecast 56) and Russia (Actual 46.9 v Forecast 47.2) earlier this morning. During this morning's session, we have more Markit Manufacturing data releases for October for Spain (Previous 50.8 v Forecast 50.5) at 08:15 GMT, Italy (Previous 53.2 v Forecast 52.9) at 08:45 GMT, France (Previous 51.2 v Forecast 51) at 08:50 GMT, Germany (Previous 56.4 v Forecast 58) at 08:55 GMT, Euro Zone (Previous 53.7 v Forecast 54.4) at 09:00 GMT and the UK (Previous 54.1 v Forecast 53.3) at 09:30 GMT. | | | This afternoon, we look forward to ECB's Mersch who is speaking at 14:00 GMT followed by Markit Manufacturing PMI for October for both Canada at 14:30 GMT (Previous 50.8 v Forecast 50.5) and the US at 14:45 GMT (Previous 53.2 v Forecast 53.3). US ISM Manufacturing data is released at 15:00 GMT, and includes New Orders (Previous 60.2 v Forecast 57), Manufacturing Prices (Previous 62.8 v Forecast 63), Manufacturing Employment (Previous 49.6 v Forecast 50), Manufacturing PMI (Previous 55.4 v Forecast 55.5) and Construction Spending for September (Previous 1.4% v Forecast 0.7%). This evening at 23:00 GMT, South Korean Inflation Rate for October period is released with YoY (Previous 1% v Forecast 0.8%) and MoM (Previous 0.7% v Forecast 0.3%). | | | 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 1.1599 for 1.1664
Short-term view: EURUSD MACD and RSI are flat but support comes in at 1.1599 and we see a rise to 1.1664 enter at 1.162. Below 1.1599 to open 1.1559 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Support at 1.2857 for 1.2946
Short-term view: GBPUSD MACD and RSI are flat but support comes in at 1.2857 and we see a rise to 1.2946 enter at 1.2886. Below 1.2857 to open 1.2815 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 104.51 for 105.13
Short-term view: USDJPY support comes in at 104.51 MACD and RSI have a bullish bias. Hence, we see a bounce to 105.13 enter at 104.71. Below 104.51 to open 104.28 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7037 for 0.6976
Short-term view: AUDUSD MACD and RSI are flat but resistance comes in at 0.7037 and we see a dip to 0.6976 enter at 0.7017. Above 0.7037 to open 0.7063 | | | | | | TraderMade
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