| | | | | FX Strategy 03 Nov 2020 | | | In the G10 FX Market, NOK and EUR are the top gainers today, up 0.4% and 0.25% versus the dollar while CAD and USD are the top losers. In the rates market, global yields were trading stronger today. The US 10-year was trading at 0.867, up 1.5bp. The German 10-year was trading at -0.624, up 1.0bp. The UK 10-year was trading at 0.233, up 1.0bp. | | | In the Asian equities, markets were trading firm today. The Hang Seng was trading at 24982.0, up 2.13%. The Kospi was trading at 2343.31, up 1.88%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 11853.55, up 0.59%. The FTSE 100 was trading at 5714.75, up 1.06%. The Euro Stoxx 50 was trading at 3038.69, up 0.63%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 5691.8, up 1.06%. The Euro Stoxx 50 Futures was trading at 3034.0, up 0.7%. The SP500 Futures was trading at 3318.12, up 0.53%. | | | In the Energy space, Oil futures were trading firm today. The WTI Crude Futures was trading at 36.97, up 0.43%. The Brent Crude Futures was trading at 39.06, up 0.23%. | | | In terms of economic data releases, we have seen the RBA Interest Rate Decision with as expected, a cut to 0.1% from 0.25%. We have also seen the Turkish Inflation Rate for October YoY (Actual 11.89% v Forecast 11.5%) and MoM (Actual 2.13% v Forecast 1.8%) plus Turkish PPI for October YoY (Actual 18.2% v Forecast 17.8%) and MoM (Actual 3.55% v Forecast 3.2%). In the morning session, Bundesbank's Mauderer is speaking at 10:00 GMT, followed by Brazilian Copom Meeting Minutes at 11:00 GMT and Mexican Business Confidence for October at 12:00 GMT (Previous 40.5 v Forecast 41). | | | Looking forward to the afternoon trading session, US Factory Orders for September MoM (Previous 0.7% v Forecast 0.6%) and Factory Orders ex Transportation for September (Previous 0.7% v Forecast 0.4%) are released at 15:00 GMT alongside US IBD/YIPP Economic Optimism for November (Previous 55.2 v Forecast 53.2). Mexican Markit Manufacturing PMI for October (Previous 42.1 v Forecast 42.4) is released at 15:30 GMT with Bundesbank's Balz speaking at 16:00 GMT. Brazilian Balance of Trade for October is released at 18:00 GMT (Previous $6.2B v Forecast $6B) with Bundesbank's Mauderer speaking again at this time. Later this evening we have economic data releases from Australia with Ai Group Construction Index for October (Previous 45.2 v Forecast 45.4) at 21:30 GMT and Markit Services PMI Final for October (Previous 50.8 v Forecast 53.8) and Markit Composite PMI Final for October (Previous 51.1 v Forecast 53.6) both released at 22:00 GMT. At 23:50 GMT BoJ Monetary Policy Meeting Minutes will be released. All eyes will be on the results of the US Presidential Election during the night also. | | | 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 1.164 for 1.1691
Short-term view: EURUSD support comes in at 1.164 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.1691 enter at 1.1657. Below 1.164 to open 1.1623 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Support at 1.2908 for 1.3007
Short-term view: GBPUSD support comes in at 1.2908 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.3007 enter at 1.2941. Below 1.2908 to open 1.2864 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Resistance at 104.95 for 104.33
Short-term view: USDJPY resistance comes in at 104.95 MACD and RSI have a bearish bias. Hence, we see a dip to 104.33 enter at 104.75. Above 104.95 to open 105.16 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Support at 0.7035 for 0.7102
Short-term view: AUDUSD support comes in at 0.7035 MACD and RSI have a bullish bias. Hence, we see a bounce to 0.7102 enter at 0.7057. Below 0.7035 to open 0.7011 | | | | | | TraderMade
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