| | | | | FX Strategy 11 Nov 2020 | | | In the G10 FX Market, NZD and AUD are the top gainers today, up 0.82% and 0.14% versus the dollar while JPY and CHF are the top losers, down -0.12% and -0.12% versus the dollar, respectively. In the rates market, global yields were trading stronger today. The UK 10-year was trading at 0.417, up 1.7bp. The German 10-year was trading at -0.479, up 1.2bp. The Japan 10-year was trading at 0.037, up 0.5bp. | | | In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 25349.6, up 1.78%. The Kospi was trading at 2485.87, up 1.35%. The Hang Seng was trading at 26220.0, down -0.31%. In the European equities, indices were trading stronger today. The DAX 30 was trading at 13216.35, up 0.4%. The FTSE 100 was trading at 6330.75, up 0.54%. The Euro Stoxx 50 was trading at 3455.45, up 0.37%. | | | Looking at Equity Futures so far, the FTSE100 Futures was trading at 6303.0, up 0.31%. The SP500 Futures was trading at 3548.62, up 0.22%. The Euro Stoxx 50 Futures was trading at 3436.0, down -0.43%. | | | In the Energy space, Oil futures were trading firm today. The Brent Crude Futures was trading at 44.73, up 2.57%. The WTI Crude Futures was trading at 42.45, up 2.64%. | | | In terms of economic data releases, overnight we have seen Indonesian Retail Sales for September YoY (Actual -8.7% v Forecast -7.5%), Japanese Machine Tool Orders for October YoY (Actual -5.9% v Forecast -20%) and Turkish Current Account for September (Actual $-2.364B v Forecast $-3.2B). The morning session is relatively quiet for data with no headline releases for today's session. | | | Looking forward to the afternoon session we have Brazilian Retail Sales for September YoY (Previous 6.1% v Forecast 4%) and MoM (Previous 3.4% v Forecast 1.7%) plus Mexican Industrial Production for September YoY (Previous -9% v Forecast -7%) and MoM (Previous 3.3% v Forecast 1.5%) which are all released at 12:00 GMT. ECB speakers Lagarde, Guindos and Lane are speaking individually at 13:00 GMT, 13:30 GMT and 16:00 GMT respectively. Later this evening we look forward to South Korean data for the October time period, with Export Prices YoY (Previous -6.2% v Consensus -5.6%) and Import Prices YoY (Previous -11.5% v Consensus -10%) at 21:00 GMT. At 23:50 GMT we have Japanese data with Machinery Orders for September YoY (Previous -15.2% v Forecast -11.6%) and MoM (Previous 0.2% v Forecast -1%) plus PPI for October YoY (Previous -0.8% v Forecast -2.0%) and MoM (Previous 0.2% v Forecast -1%) which will all be released onto the wires. | | | 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 1.1846 for 1.1782
Short-term view: EURUSD resistance comes in at 1.1846 MACD and RSI have a bearish bias. Hence, we see a dip to 1.1782 enter at 1.1825. Above 1.1846 to open 1.1877 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Support at 1.3235 for 1.3316
Short-term view: GBPUSD support comes in at 1.3235 MACD and RSI have a bullish bias. Hence, we see a bounce to 1.3316 enter at 1.3262. Below 1.3235 to open 1.3192 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Resistance at 105.56 for 105.19
Short-term view: USDJPY MACD and RSI are flat but resistance comes in at 105.56 and we see a dip to 105.19 enter at 105.44. Above 105.56 to open 105.86 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Support at 0.7278 for 0.732
Short-term view: AUDUSD MACD and RSI are flat but support comes in at 0.7278 and we see a rise to 0.732 enter at 0.7292. Below 0.7278 to open 0.7261 | | | | | | TraderMade
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