Risk On As Major Economies Lift Lock-down
Updated 10:56AM 11/05/2020
In the G10 FX Market, USD and NOK are the top gainers today while NZD and JPY are the top losers, down -0.64% and -0.58% versus the dollar, respectively. In the rates market, global yields were trading stronger today. The UK 10-year was trading at 0.257, up 2.4bp. The German 10-year was trading at -0.524, up 1.4bp. The US 10-year was trading at 0.691, up 0.6bp. The Japan 10-year was trading at 0.009, up 0.4bp. |
The U.S. dollar gained versus the Japanese yen on Monday as the United States and other European countries re-opened their economies. There are hopes of a quicker global recovery compared to a deep recession imagined earlier due to the Coronavirus pandemic. That said, the second wave may likely come and this will be net negative risky assets. |
In the Asian equities, markets were trading mixed today. The Hang Seng was trading at 24637.0, up 1.68%. The Nikkei 225 was trading at 20381.0, up 1.0%. The Kospi was trading at 1935.4, down -0.54%. In the European equities, indices were trading mixed today. The FTSE 100 was trading at 5937.75, up 0.03%. The Euro Stoxx 50 was trading at 2901.75, down -0.22%. The DAX 30 was trading at 10871.7, down -0.3%. Looking at Equity Futures so far, the FTSE100 Futures was trading at 5927.8, up 0.07%. The SP500 Futures was trading at 2927.12, down -0.05%. The Euro Stoxx 50 Futures was trading at 2884.0, down -0.24%. |
In the Energy space, Oil futures were trading weaker today. The WTI Crude Futures was trading at 24.0, down -2.99%. The Brent Crude Futures was trading at 30.2, down -2.49%. |
10-year Yields Daily Chart (1-month) |
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Daily FX Pivots |
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Brent Crude Daily Chart (1-month) |
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Forex Chart and Technical Analysis |
EURUSD Chart (Two-week) |
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Strategy: Support at 1.0783 for 1.0843 |
GBPUSD Chart (Two-week) |
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Strategy: Support at 1.2295 for 1.2409 |
USDJPY Chart (Two-week) |
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Strategy: Support at 107.08 for 107.41 |
AUDUSD Chart (Two-week) |
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Strategy: Resistance at 0.6524 for 0.6468 |
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