Forex Outlook as Risk Appetite Wane
Created 10/16/2019 at 09:17AM
CHF and JPY are the top G10 FX gainers today, up 0.18% and 0.15% vs the dollar while NOK and GBP are the top losers, down -0.54% and -0.38% vs the dollar.
The British Pound fell from its 5-month highs as talks to secure a Brexit deal continue and are likely to go down to the very end. The volatility in Sterling is likely to remain high with any outcome to cause sharp moves.
In the Asian equities space, the Nikkei 225 closed up +1.20% at 22,472.92, Hang Seng closed 0.61% at 26664.28 and Kospi ended 0.71% at 2082.83. The European equities were trading weaker with the FTSE down -0.21% at 7196.82, DAX down -0.11% at 12615.95, and CAC down -0.3% at 5684.99. In the rates market, global yields were trading mixed; the US 10-year yield was trading at 1.729% and the Bund 10-year yield trading at -0.421%. In the energy space, the Brent (front month) is trading down (-0.34%) for the day at $58.54.
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Daily Pivots for Key Currency Pairs
10-year Yields Chart (6-month)
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Major Currency Pairs
EURUSD Chart (Two-week)
Strategy: Resistance at 1.1061 for 1.1000
GBPUSD Chart (Two-week)
Strategy: Resistance at 1.2802 for 1.2572
USDJPY Chart (Two-week)
Strategy: Resistance at 109.15 for 108.00
AUDUSD Chart (Two-week)
Strategy: Resistance at 0.6774 for 0.6700