FX Market Poised Ahead of Key Events

Updated 10:14AM 11/12/2019

SEK and AUD are the top G10 FX gainers today, up 0.57% and 0.28% vs the dollar while EUR and GBP are the top losers, down -0.1% and -0.1% vs the dollar. The U.S. dollar inched higher as the market awaited the Federal Reserve meeting outcome and hoped that Trump will delay tariffs on Chinese goods.Sterling edged lower once again, a day ahead of British general election after the latest opinion poll showed lead for the Conservative Party narrowing further. In our view, GBPUSD could hit 1.25 in unlikely event of a Labour party majority.We expect the foreign exchange market to remain range-bound, as investors await the result of the U.K. general election, the outcome of the ECB meeting and the outcome of the 15th December trade deadline.In the Asian equities space, the Nikkei 225 closed -0.8% lower at 23,391.86, Hang Seng closed 0.79% at 26645.43 and Kospi ended 0.36% at 2105.62. The European equities were trading mixed with the FTSE -0.07% at 7208.76, DAX 0.01% at 13072.35, and CAC -0.27% at 5832.41. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.8191% and the Bund 10-year yield trading at -0.314%. In the energy space, the Brent (front month) is trading down (-0.4%) for the day at $64.08.


Get Forex Data in Google Sheets




Daily Pivots for Key Currency Pairs


Economic Calendar


10-year Yields Chart (6-month)


Brent Front Month Daily Chart (6-month)


USD-Index Daily Chart (6-month)


(Content and Data by Tradermade)


Major Currency Pairs


EURUSD Chart (Two-week)


Strategy: Resistance at 1.1100 for 1.1037
Short-term view: EUR/USD resistance at 1.1100, MACD and RSI are weakening. Hence, we see a move to 1.1037. Above 1.1089 to open 1.1136.


GBPUSD Chart (Two-week)


Strategy: Resistance at 1.3178, for 1.3096
Short-term view: GBP/USD resistance at 1.3178, MACD and RSI are weak. Hence, we expect a dip to 1.3096. Above 1.3178 to open 1.3222.


USDJPY Chart (Two-week)


Strategy: Resistance at 108.81 for 108.01
Short-term view: USD/JPY resistance at 108.81, RSI and MACD are weak. A move lower to 108.01 is likely. Above 108.81 to open 109.47


AUDUSD Chart (Two-week)


Strategy: Resistance at 0.6836 for 0.6780
Short-term view: AUD/USD MACD and RSI are weakening and resistance at 0.6836. A move towards 0.6780 is likely. Above 0.6836 to open 0.6862

Most Recent Posts
Risk On Risk Off Continues in the FX Market

Updated: May 18, 2020 10:00 UTC

Risk Off on Second Wave Worries Ahead of The Weekend

Updated: May 15, 2020 09:20 UTC

Forex Driven by Coronavirus Second Wave Worries

Updated: May 12, 2020 09:11 UTC

Risk On As Major Economies Lift Lock-down

Updated: May 11, 2020 10:56 UTC

BoE Helps Pound But Market Still Risk Averse

Updated: May 07, 2020 09:39 UTC

Pound Weakens, Yen at Multi Week High

Updated: May 06, 2020 09:32 UTC

Oil Rallies but Trade War Fears Remain

Updated: May 05, 2020 08:15 UTC

Trump Reignites Trade War Fears

Updated: May 01, 2020 09:06 UTC

Oil Recovery Helps Sentiments

Updated: Apr 30, 2020 10:28 UTC

Risk Sentiments Up With a Vaccine in Sight

Updated: Apr 29, 2020 09:18 UTC

FX Outlook Ahead of ECB and Fed

Updated: Apr 28, 2020 08:47 UTC

Boris Returns but Lock-down Extension May Weigh Heavy Sterling

Updated: Apr 27, 2020 08:58 UTC

Sterling Likely to Struggle, Here's Why?

Updated: Apr 24, 2020 08:36 UTC

Oil Surge Dollar Fell, What Next?

Updated: Apr 23, 2020 10:08 UTC

Crude Oil Making Financial Markets Nervous

Updated: Apr 22, 2020 10:37 UTC

Crude Oil Fall Unnerves Markets, What to Do

Updated: Apr 21, 2020 08:58 UTC

Sterling in Trouble, Risk Sentiments Fragile

Updated: Apr 20, 2020 09:05 UTC

Coronavirus - We Have Not Seen the Bottom Yet

Updated: Apr 17, 2020 08:55 UTC

Economic Downturn Likely to Worsen Further, Here's Why

Updated: Apr 16, 2020 09:21 UTC

Riskier Assets Vulnerable Here's Why

Updated: Apr 15, 2020 09:03 UTC