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Trade Deal in Sight Ahead of Thanksgiving

Created 11/27/2019 at 10:12AM


NZD and CAD are the top G10 FX gainers today, up 0.03% and 0.03% vs the dollar while JPY and EUR are the top losers, down -0.11% and -0.11% vs the dollar. The dollar rose on Wednesday on renewed hopes of a U.S.-China trade deal after U.S. President Trump said both countries are close to signing a deal.In the U.K, a YouGov poll showed the Labour narrowing the conservative party lead to 11 points. There was also a surge in under-35's registering for a vote before last night's deadline. Elsewhere, Aussie fell after a forecast from Westpac Bank Chief Economist Bill Evans suggested two RBA rate cuts and QE by next year.In the Asian equities space, the Nikkei 225 closed up 0.28% at 23,437.77, Hang Seng closed 0.15% at 26954.0 and Kospi ended 0.31% at 2127.85. The European equities were trading firm with the FTSE up +0.54% at 7443.06, DAX up +0.53% at 13307.2, and CAC up +0.28% at 5946.37. 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 -0.374%. In the energy space, the Brent (front month) is trading up (0.03%) for the day at $64.29.

 

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Daily Pivots for Key Currency Pairs

 
 

Economic Calendar

 
 

10-year Yields Chart (6-month)

 
 

Brent Front Month Daily Chart (6-month)

 
 

USD-Index Daily Chart (6-month)

 
 

(Content and Data by Tradermade)

 

Major Currency Pairs

 

EURUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.1037 for 1.0950
Short-term view: EUR/USD resistance at 1.1037, MACD and RSI are weak. Hence, we see a move to 1.0950. Above 1.1037 to open 1.1094.

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.2900, for 1.2802
Short-term view: GBP/USD resistance at 1.2900, MACD and RSI are weak. We see dip to 1.2802, likely 1.2750. Above 1.2900 to open 1.2950.

 

USDJPY Chart (Two-week)

 
 

Strategy: Resistance at 108.96 for 108.01
Short-term view: USD/JPY has resistance around 108.96, MACD and RSI are weak. Hence, we see a move lower to 108.01, likely 107.64. Above 108.96 opens 109.47.

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6813 for 0.6740
Short-term view: AUD/USD MACD and RSI are weak and resistance at 0.6813. A move towards 0.6740, likely 0.6700. Above 0.6813 to open 0.6862.