Title - Oil Surge leads Forex, Brexit worries return

Created 09/16/2019 at 10:01AM


 

NOK and CAD are the top G10 FX gainers today, up 0.33% and 0.25% vs the dollar while GBP and SEK are the top losers, down -0.52% and -0.19% vs the dollar.

 

Energy Linked currencies rose after an attack on Saudi Arabia's oil refineries; oil jumped almost 20% at one point as almost 5% of global oil production was impacted. Japanese yen and Swiss franc also caught a bid as jittery investors sought safe havens.

 

Elsewhere, Sterling fell from multi-week highs as Brexit uncertainty unnerved markets once again.

 

In the Asian equities space, Hang Seng closed -0.83% at 27124.55 and Kospi ended 0.64% at 2062.22. The European equities were trading weaker with the FTSE down -0.17% at 7354.87, DAX down -0.66% at 12386.24, and CAC down -0.63% at 5619.72. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.8572% and the Bund 10-year yield trading at -0.46%. In the energy space, the Brent (front month) is trading up (8.72%) for the day at $65.47.

 

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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 1.1120 for 1.0975
Short-term view: EUR/USD resistance at 1.1120, MACD and RSI are giving mixed signals. Hence, we see a move to 1.1019, likely 1.0975. Above 1.1120 to open 1.1167

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.2481 for 1.2381
Short-term view: GBP/USD resistance at 1.2481, MACD and RSI are topping out. We see risk of a dip to 1.2381, likely 1.2325. Above 1.2481 to open 1.2584

 

USDJPY Chart (Two-week)

 
 

Strategy: Resistance at 108.43 for 107.48
Short-term view: USD/JPY has resistance around 108.43, MACD and RSI are topping out, Hence, we see a move lower to 107.48, likely 107.05. Above 108.43 opens 108.81

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6920 for 0.6830
Short-term view: AUD/USD MACD and RSI are weakening, resistance at 0.6920 for a move lower towards 0.6830, likely 0.6780. Above 0.6920 we look for 0.6950 in the immediate short-term.