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Slight EUR Recovery, Jackson Hole Later This Week & Markets Round-Up

Updated 09:04AM 19/08/2019

EUR and NOK are the top G10 FX gainers today, up 0.14% and 0.14% vs the dollar while NZD and AUD are the top losers, down -0.28% and -0.19% vs the dollar.

 

The EUR steadied a little after its biggest weekly fall (last week) in almost two months as risk sentiments improved. Hopes of a probable fiscal stimulus by Germany is also adding to the investor's optimism. That said, the market optimism is likely to remain capped ahead of the speech by Fed Chairman Jerome Powell at the Jackson Hole Symposium later this week.

 

In the Asian equities space, the Nikkei 225 closed up0.71% at 20,563.16, Hang Seng closed 2.17% at 26291.84 and Kospi ended 0.66% at 1939.9. The European equities were trading firm with the FTSE up +0.91% at 7181.69, DAX up +1.08% at 11687.2, and CAC up +0.8% at 5343.15. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.6165% and the Bund 10-year yield trading at -0.639%. In the energy space, the Brent (front month) is trading up (1.01%) for the day at $59.23.

 

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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 1.1019
Short-term view: EUR/USD resistance at 1.1120, MACD and RSI are weak. Hence, we see a move to 1.1062, possibly 1.1019. Above 1.1120 to open 1.1167.

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.2190 for 1.2046
Short-term view: GBP/USD resistance at 1.2190, MACD and RSI are looking to weaken and hence, we see a dip to 1.2046, likely 1.2000. Above 1.2190 to open 1.2243.

 

USDJPY Chart (Two-week)

 
 

Strategy: Resistance at 106.65 for 105.03
Short-term view: USD/JPY has resistance around 106.65 MACD and RSI are giving mixed signals, hence, we see a move lower to 105.81 and 105.03. Above 106.65 opens 107.05-107.48.

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6800 for 0.6725
Short-term view: AUD/USD short-term downtrend intact, we look for resistance at 0.6800 for a move lower towards 0.6725, likely 0.6650. Above 0.6800 we look for 0.6830-0.6869 in the immediate short-term.