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) |
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Daily FX Pivots |
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Brent Crude Daily Chart (1-month) |
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Forex Chart and Technical Analysis |
EURUSD Chart (Two-week) |
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Strategy: Resistance at 1.0838 for 1.0789 |
GBPUSD Chart (Two-week) |
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Strategy: Resistance at 1.2352 for 1.2265 |
USDJPY Chart (Two-week) |
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Strategy: Support at 107.3 for 108.11 |
AUDUSD Chart (Two-week) |
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Strategy: Resistance at 0.6503 for 0.6444 |