Trade Deal in Doubts, Here's Why
Created 11/21/2019 at 10:05AMNOK and SEK are the top G10 FX gainers today, up 0.32% and 0.19% vs the dollar while CAD and USD are the top losers. Japanese yen firmed after Reuters reported that sources close to White House think that a Sino-U.S. trade deal is unlikely by the end of this year. The yuan fell to three-week lows low on concerns that U.S. tariffs may not be rolled back. Also, U.S. President expected to pass two bills in support of protesters in Hong Kong. |
In the Asian equities space, the Nikkei 225 closed -0.48% lower at 23,038.58, Hang Seng closed -1.57% at 26466.88 and Kospi ended -1.35% at 2096.6. The European equities were trading weaker with the FTSE down -0.77% at 7206.22, DAX down -0.54% at 13086.87, and CAC down -0.6% at 5858.61. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.7448% and the Bund 10-year yield trading at -0.345%. In the energy space, the Brent (front month) is trading down (-0.38%) for the day at $62.16. |
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Daily Pivots for Key Currency Pairs |
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10-year Yields Chart (6-month) |
Brent Front Month Daily Chart (6-month) |
USD-Index Daily Chart (6-month) |
Major Currency Pairs |
EURUSD Chart (Two-week) |
Strategy: Resistance at 1.1094 for 1.1000 |
GBPUSD Chart (Two-week) |
Strategy: Resistance at 1.2950, for 1.2850 |
USDJPY Chart (Two-week) |
Strategy: Resistance at 108.96 for 108.01 |
AUDUSD Chart (Two-week) |
Strategy: Resistance at 0.6833 for 0.6780 |