Sterling Up On Brexit Hopes, Dollar Range Bound

Updated 09:19AM 15/10/2019


GBP and JPY are the top G10 FX gainers today, up 0.36% and 0.08% vs the dollar while NOK and NZD are the top losers, down -0.37% and -0.27% vs the dollar. The British Pound rose helped by positive news on Brexit: EU's Michel Barnier, said a deal with the UK over its exit from the EU was still possible this week. Elsewhere, falling optimism over U.S.-Sino trade talks kept the USD stuck in a range.

 

In the Asian equities space, the Nikkei 225 closed +1.87% higher at 22,207.21, Hang Seng closed -0.07% at 26503.93 and Kospi ended 0.04% at 2068.17. The European equities were trading mixed with the FTSE -0.04% at 7210.48, DAX 0.39% at 12535.1, and CAC 0.53% at 5672.86. In the rates market, global yields were trading mixed; the US 10-year yield was trading at 1.682% and the Bund 10-year yield trading at -0.463%. In the energy space, the Brent (front month) is trading down (-0.93%) for the day at $58.8.

 

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Economic Calendar

 
 

10-year Yields Chart (6-month)

 
 

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Major Currency Pairs

 

EURUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.1061 for 1.0950
Short-term view: EUR/USD resistance at 1.1060, MACD and RSI are looking to move lower. Hence, we see a move to 1.0950. Above 1.1060 to open 1.1120.

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.2700 for 1.2572
Short-term view: GBP/USD resistance at 1.2700 MACD and RSI are weak. We see risk of a dip to 1.2572. Above 1.2700 to open 1.2802.

 

USDJPY Chart (Two-week)

 
 

Strategy: Resistance at 108.43 for 107.20
Short-term view: USD/JPY has resistance around 108.43, MACD and RSI are topping out. Hence, we see a move lower to 107.64, likely 107.20. Above 108.43 opens 108.81.

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6800 for 0.6700
Short-term view: AUD/USD MACD and RSI lacks upside momentum, resistance at 0.6800 for a move lower towards 0.6740, likely 0.6700. Above 0.6800 we look for 0.6881.

 
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