Boris Returns but Lock-down Extension May Weigh Heavy Sterling
04/27/2020 at 08:58AM
In the G10 FX Market, AUD and NZD are the top gainers today, up 0.86% and 0.66% versus the dollar while CHF and USD are the top losers.
The yen moved higher along with other commodity currencies after the Bank of Japan provided more stimulus to help businesses amid coronavirus crisis. Sterling is likely to struggle as UK PM announced that it may be a while before lockdown is lifted. He may likely err on the safe side which is going to be a negative on the economy hence the Pound.
In the rates market, global yields were trading weaker with the US 10-year yield up +1.0bp trading at 0.615 and the German 10-year yield up 0.1bp trading around -0.473. In the Asian Session, Equities markets were trading firm with S&P 500 futures up 1.1% at 2850.62, the Nikkei up 2.5% at 19743.5, and the Hang Seng up 2.11% at 24334.0 In the energy space, the Brent (front month) is trading down (-5.46%) for the day at $23.72.
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 1.0794 for 1.086
GBPUSD Chart (Two-week)
Strategy: Support at 1.2395 for 1.2474
USDJPY Chart (Two-week)
Strategy: Resistance at 107.55 for 106.94
AUDUSD Chart (Two-week)
Strategy: Support at 0.644 for 0.6479