FX Strategy 08 Nov 18 

SEK, NOK, and AUD are among the top G10 FX gainers today, up 0.46% and 0.19% and 0.11% vs the dollar while GBP and JPY are the top losers. The USD-index is trading flat for the day after rising sharply from yesterday’s lows ahead of the FOMC meeting later today; we don’t expect much from the meeting and expect USD weakness to continue heading into the weekend. Elsewhere, GBP is trading weaker on news that UK may ask EU for more time on a Breit deal. In the Asian equities space, the Nikkei 225 closed 1.82% higher at 22,583.43, Hang Seng closed +0.31% at 26,227.72 and Kospi ended 0.67% higher at 2092.63. The European equities. however, were trading mixed with the FTSE down -0.33% at 7,128.25, DAX up 0.4% at 11581.99, and CAC flat at 5137.00. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 3.22% and the Bund 10-year yield trading at 0.46%. In the energy space, the Brent (front month) is trading firm for the day at $72.6


Economic Calendar



USD-Index Daily Chart (5-month)



Brent Front Month Daily Chart (6-month)



Trade Weighted Basket Hourly (one-week)



Major Currency Pairs


EURUSD Chart (Two-week)



Strategy Support at 1.1380 for 1.1483
Short-term view: EUR/USD support at 1.1380, RSI and MACD have are giving mixed signals. Hence, we see a bounce to 1.1483, possibly 1.1544. Below 1.1380 to open 1.1332



GBPUSD Chart (Two-week)



Strategy: Resistance at 1.3204 for 1.3042
Short-term view: GBP/USD strong resistance at 1.3204, MACD and RSI are still flat. Hence, we see a correction to 1.3096, possibly 1.3042. Above 1.3204 to open 1.3296.



USDJPY Chart (Two-week)



Strategy: Resistance at 114.00 for 112.73
Short-term view: USD/JPY resistance at 114.00 MACD is still looking to enter the negative territory. Hence, we are likely to see a dip to 112.73. Above 114.00 to open 114.49.



AUDUSD Chart (Two-week)



Strategy: Support at 0.7238 for 0.7334
Short-term view: AUD/USD support at 0.7238, MACD and RSI are rising. Hence, we are likely to see a bounce to .7304, possibly .7334. Below 0.7238 to open 0.7193


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