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Safe haven down, Sterling rise, Euro Poised

Updated 09:20AM 11/09/2019

AUD and SEK are the top G10 FX gainers today, up 0.1% and 0.1% vs the dollar while NOK and JPY are the top losers, down -0.21% and -0.2% vs the dollar. 

Japanese yen continue to fall as risk appetite improved and investors continued to unwind their safe-haven bets. Euro was flat ahead of European Central Bank meeting on Thursday; we see it as vulnerable to ECB easing.

British pound improved reaching almost six-week high as there were rumors that Prime Minister Boris Johnson may loosen his stance to strike a deal with the European Union. In the Asian equities space, the Nikkei 225 closed up +0.96% at 21,597.76, Hang Seng closed 1.78% at 27159.06 and Kospi ended 0.84% at 2049.2. The European equities were trading firm with the FTSE up +0.96% at 7337.9, DAX up +0.78% at 12364.18, and CAC up +0.43% at 5617.09. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.7333% and the Bund 10-year yield trading at -0.534%. In the energy space, the Brent (front month) is trading up (1.06%) for the day at $63.04.


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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: Support at 1.1019 for 1.1097
Short-term view: EUR/USD support at 1.1019, MACD and RSI are flat. Hence, we see a move to 1.1097. Below 1.1019 to open 1.0975.


GBPUSD Chart (Two-week)


Strategy: Resistance at 1.2381 for 1.2219
Short-term view: GBP/USD resistance at 1.2381, MACD and RSI are weakening. We see risk of a dip to 1.2265, possibly 1.2219. Above 1.2381 to open 1.2433


USDJPY Chart (Two-week)


Strategy: Resistance at 108.01 for 107.48
Short-term view: USD/JPY has resistance around 108.01, MACD and RSI are topping out, Hence, we see a move lower to 107.48, likely 107.05. Above 108.01 opens 108.43


AUDUSD Chart (Two-week)


Strategy: Resistance at 0.6869 for 0.6780
Short-term view: AUD/USD MACD and RSI are weakening, resistance at 0.6869 for a move lower towards 0.6780, likely 0.6725. Above 0.6869 we look for 0.6920 in the immediate short-term.