No Deal Out Brexit In, Almost
Created 10/21/2019 at 09:10AM
NZD and NOK are the top G10 FX gainers today, up 0.34% and 0.29% vs the dollar while JPY and CHF are the top losers, down -0.18% and -0.02% vs the dollar.
The U.S. Dollar fell further as the market anticipates a further Fed rate cut on 30th October. The chances of a rate cut currently stand at almost 90% and this should help the risky currencies such as AUD and NZD as there are reduced chances of further easing from RBA and RBNZ over the coming weeks.
In the Asian equities space, the Nikkei 225 closed up 0.25% at 22,548.90, Hang Seng closed 0.02% at 26725.68 and Kospi ended 0.2% at 2064.84. The European equities were trading mixed with the FTSE -0.03% at 7148.5, DAX 0.55% at 12703.25, and CAC 0.02% at 5637.4. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.7887% and the Bund 10-year yield trading at -0.339%. In the energy space, the Brent (front month) is trading down (-0.5%) for the day at $59.12.
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Major Currency Pairs
EURUSD Chart (Two-week)
Strategy: Support at 1.1136 for 1.1234
GBPUSD Chart (Two-week)
Strategy: Support at 1.2900 for 1.3150
USDJPY Chart (Two-week)
Strategy: Resistance at 108.81 for 108.01
AUDUSD Chart (Two-week)
Strategy: Support at 0.6841 for 0.6920