| | | | | FX Strategy 12 Nov 2020 | | | In the G10 FX Market, NOK and CHF are the top gainers today, up 1.97% and 0.17% versus the dollar while AUD and GBP are the top losers, down -0.3% and -0.26% versus the dollar, respectively. In the rates market, global yields were trading weaker today. The Japan 10-year was trading at 0.026, down -0.6bp. The German 10-year was trading at -0.52, down -0.8bp. The UK 10-year was trading at 0.389, down -2.5bp. The US 10-year was trading at 0.936, down -4.1bp. | | | In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 25520.88, up 0.68%. The Kospi was trading at 2475.62, down -0.41%. The Hang Seng was trading at 26176.0, down -0.19%. In the European equities, indices were trading weaker today. The Euro Stoxx 50 was trading at 3440.85, down -0.76%. The FTSE 100 was trading at 6326.47, down -0.87%. The DAX 30 was trading at 13095.9, down -0.91%. | | | Looking at Equity Futures so far, the SP500 Futures was trading at 3545.75, down -0.62%. The Euro Stoxx 50 Futures was trading at 3436.0, down -0.92%. The FTSE100 Futures was trading at 6310.5, down -1.0%. | | | In the Energy space, Oil futures were trading stronger today. The WTI Crude Futures was trading at 41.61, up 0.39%. The Brent Crude Futures was trading at 43.95, up 0.34%. | | | In terms of economic data releases, overnight we have seen BoJ's Adachi speaking with Japanese Tertiary Industry Index MoM for September (Actual 1.8% v Forecast 1.1%). Earlier this morning we have also had the German Inflation Rate Final for October YoY (Actual -0.2% v Forecast -0.2%) and MoM (Actual 0.1% v Forecast 0.1%). We have also had UK data with GDP Growth Rate YoY Prel Q3 (Actual -9.6% v Forecast -9.7%), GDP Growth Rate Q0Q Prel Q3 (Actual 15.5% v Forecast 15.5%), Balance of Trade for September ((Actual £0.6B v Forecast £-1.0B), Industrial Production for September YoY (Actual -6.3% v Forecast -6.2%), Business Investment QoQ Prel Q3 (Actual 8.8% v Forecast 15.9%) and Construction Output for September YoY (Actual -10% v Forecast -11.7%). | | | Looking forward to the morning session, we have BoE Governor Bailey speaking at 08:00 GMT followed at 09:00 GMT with the ECB Economic Bulletin. South African Unemployment Rate Q3 (Previous 23.3% v Forecast 33.5%) is released at 09:30 GMT, followed at 10:00 GMT with Euro Area Industrial Production for September YoY (Previous -7.2% v Forecast -5.4%) and MoM (Previous 0.7% v Forecast 0.9%). Economic data from India follows at 12:00 GMT with the Inflation Rate for October YoY (Previous 7.34% v Forecast 7.3%), Manufacturing Production for September YoY (Previous -8.6% v Forecast -3.8%) and Industrial Production for September YoY (Previous -8.0% v Forecast -3.2%). | | | This afternoon starts with the Russian GDP Growth Rate YoY Prel Q3 (Previous -8.0% v Forecast -4.0%) at 13:00 GMT, followed at 13:30 GMT with the US Inflation Rate for October YoY (Previous 1.4% v Forecast 1.5%), Core Inflation Rate for October YoY (Previous 1.7 v Forecast 1.8%), weekly US Initial Jobless Claims (Previous 751K v Forecast 743K) and Continuing Claims (Previous 7285K v Forecast 6820K). ECB's Mersch & Schnabel are both speaking at 14:15 GMT and 15:30 GMT respectively with US weekly Oil data following at 16:00 GMT. ECB President Lagarde, BoE Governor Bailey & Fed Chair Powell are all scheduled to speak at 16:45 GMT with Bundesbank's Mauderer and Fed's Evans also starting their speeches at 18:00 GMT. | | | 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 1.1826 for 1.1738
Short-term view: EURUSD MACD and RSI are flat but resistance comes in at 1.1826 and we see a dip to 1.1738 enter at 1.1797. Above 1.1826 to open 1.1873 | | | GBPUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 1.3243 for 1.3121
Short-term view: GBPUSD resistance comes in at 1.3243 MACD and RSI have a bearish bias. Hence, we see a dip to 1.3121 enter at 1.3203. Above 1.3243 to open 1.3294 | | | USDJPY Chart (Two-week) | | | | | | | Strategy: Support at 105.06 for 105.73
Short-term view: USDJPY MACD and RSI are flat but support comes in at 105.06 and we see a rise to 105.73 enter at 105.28. Below 105.06 to open 104.7 | | | AUDUSD Chart (Two-week) | | | | | | | Strategy: Resistance at 0.7286 for 0.7227
Short-term view: AUDUSD resistance comes in at 0.7286 MACD and RSI have a bearish bias. Hence, we see a dip to 0.7227 enter at 0.7267. Above 0.7286 to open 0.7313 | | | | | | TraderMade
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