Forex Driven by Coronavirus Second Wave Worries
05/12/2020 at 09:11AM
In the G10 FX Market, SEK and NOK are the top gainers today, up 0.49% and 0.16% versus the dollar while GBP and AUD are the top losers, down -0.2% and -0.15% versus the dollar, respectively. The U.S. dollar hung on to gains on rising fears of a second wave of infections from coronavirus. Also, the Federal Reserve hinted that negative interest rates are less likely.
In the rates market, global yields were trading mixed today. The German 10-year was trading at -0.499, up 1.1bp. The UK 10-year was trading at 0.266, up 0.3bp. The US 10-year was trading at 0.699, down -0.8bp. The Japan 10-year was trading at -0.009, down -1.6bp.
In the Asian equities, markets were trading weak today. The Nikkei 225 was trading at 20390.5, down -0.0%. The Kospi was trading at 1922.17, down -0.68%. The Hang Seng was trading at 24249.0, down -1.44%. In the European equities, indices were trading firm today. The FTSE 100 was trading at 5968.97, up 0.49%. The DAX 30 was trading at 10828.6, up 0.05%. The Euro Stoxx 50 was trading at 2888.85, up 0.16%. Looking at Equity Futures so far, the FTSE100 Futures was trading at 5955.0, up 0.57%, the Euro Stoxx 50 Futures was trading at 2872.0, up 0.17% and the SP500 Futures was trading at 2913.88, down -0.3%.
In the Energy space, Oil futures were trading stronger today. The WTI Crude Futures was trading at 24.75, up 2.53%. The Brent Crude Futures was trading at 30.0, up 1.25%.
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 1.0838 for 1.0789
GBPUSD Chart (Two-week)
Strategy: Resistance at 1.2352 for 1.2265
USDJPY Chart (Two-week)
Strategy: Support at 107.3 for 108.11
AUDUSD Chart (Two-week)
Strategy: Resistance at 0.6503 for 0.6444