Euro Poised Near Key Levels, UK Gets New Finance Minister
Updated 10:43AM 14/02/2020
CAD and AUD are the top G10 FX gainers today, up 0.15% and 0.07% vs the dollar while SEK and NOK are the top losers, down -0.19% and -0.18% vs the dollar. Sterling jumped on news of the new British finance minister Rishi Sunak is market-friendly and may lower taxes and present an expansionary budget. Euro fell to an almost three-year low as the market was worried about eurozone growth ahead of the fourth-quarter data. In the Asian equities space, the Nikkei 225 closed -0.59% lower at 23,687.59, Hang Seng closed 0.31% at 27815.6 and Kospi ended 0.48% at 2243.59. The European equities were trading mixed with the FTSE -0.1% at 7444.42, DAX 0.12% at 13762.19, and CAC -0.2% at 6081.08. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.5917% and the Bund 10-year yield trading at -0.398%. In the energy space, the Brent (front month) is trading up (0.21%) for the day at $56.46.
10-year Yields Daily Chart (6-month)
Daily FX Pivots
Brent Crude Daily Chart (1-month)
Forex Chart and Technical Analysis
EURUSD Chart (Two-week)
Strategy: Resistance at 1.0855 for 1.0790
GBPUSD Chart (Two-week)
Strategy: Support at 1.3019 for 1.3144
USDJPY Chart (Two-week)
Strategy: Resistance at 110.08 for 109.37
AUDUSD Chart (Two-week)
Strategy: Resistance at 0.6741 for 0.6702
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