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ECB Rate Cut Bets rise, Sterling Poised Post Boris's Gamble.

Updated 09:48AM 30/08/2019

JPY and NOK are the top G10 FX gainers today, up 0.09% and 0.02% vs the dollar while SEK and CHF are the top losers, down -0.39% and -0.18% vs the dollar.

 

The EUR fell to a month low versus the dollar as investors feared more easing by the ECB. Weak Eurozone data this week has strengthened views that the ECB would cut interest rate and announce plan for further quantitative easing at the next meeting. The German CPI has slowed and the unemployment has risen.

 

AUD fell on Friday as home building sector showed weakness. The NZD also made a four-year low. Elsewhere, British Pound remains poised after Boris Johnson gamble to clinch a new withdrawal deal with the EU.

 

In the Asian equities space, the Nikkei 225 closed up 1.19% at 20,704.37, Hang Seng closed 0.08% at 25724.73 and Kospi ended 1.78% at 1967.79. The European equities were trading firm with the FTSE up +0.49% at 7219.3, DAX up +0.94% at 11949.79, and CAC up +0.77% at 5492.12. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.5298% and the Bund 10-year yield trading at -0.691%. In the energy space, the Brent (front month) is trading down (-0.43%) for the day at $60.82

 

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Daily Pivots for Key Currency Pairs

 
 

Economic Calendar

 
 

10-year Yields Chart (6-month)

 
 

USD-Index Daily Chart (6-month)

 
 

Brent Front Month Daily Chart (6-month)

 
 

Trade Weighted Basket Hourly (two-week)

 
 

(Content and Data by Tradermade)

 

Major Currency Pairs

 

EURUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.1062 for 1.1019
Short-term view: EUR/USD resistance at 1.1062, MACD and RSI are weakening. Hence, we see a move to 1.1019, possibly 1.0950.Above 1.1062 to open 1.1097.

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.2219 for 1.2087
Short-term view: GBP/USD resistance at 1.2219, MACD and RSI are weak hence, we see a dip to 1.2141, likely 1.2087. Above 1.2219 to open 1.2265.

 

USDJPY Chart (Two-week)

 
 

Strategy: Resistance at 106.65 for 105.50
Short-term view: USD/JPY has resistance around 106.65 MACD and RSI are weak, hence, we see a move lower to 106.00 and 105.50. Above 106.30 opens 107.05

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6750 for 0.6650
Short-term view: AUD/USD MACD and RSI are weak, we look for resistance at 0.6750 for a move lower towards 0.6650, likely 0.6568. Above 0.6750 we look for 0.6800 in the immediate short-term.