USD/IDR continues in a choppy range inside the near-term symmetrical triangle. 38.2% Fibonacci retracement level, formation support becomes the key for now. Despite the USD/IDR pair’s recent U-turn from 50% Fibonacci retracement, it stays inside a multi-week long symmetrical triangle while taking rounds to 14,140 during early Friday. Sellers await a clear break of 14,115,
CHINA, GDP, TRADE WAR, AUSTRALIAN DOLLAR – TALKING POINTS: 3Q Chinese GDP registers narrowly worse than expected at 6.0% y/y Industrial production data, US trade talks may have offset the headline Australian Dollar little-changed but overall trend still pointing lower Where will markets end 2019? See our Q4 forecasts for currencies, commodities and stock indexes!
Australian Dollar Outlook, AUD/JPY Technical Analysis –TALKING POINTS AUD/JPY launching offensive to take on formidable resistance Will another failed attempt induce aggressive selling pressure? Longer-term positioning still strongly supports a bearish bias Learn how to use political-risk analysis in your trading strategy! The Australian Dollar may fail to gather enough momentum against the Japanese Yen
US monthly retail sales overview Wednesday’s US economic docket highlights the release of monthly retail sales figures for September, scheduled at 12:30 GMT. Following the previous month’s stronger-than-expected rise of 0.4%, consensus estimates point to modest downtick to 0.3% growth during the reported month. Sales excluding automobiles are seen ticking higher by 0.2%, up from
Sterling has surged more than 5.4% off the yearly lows with last week’s advance marking the largest weekly rally since late-January and the largest weekly-range since the post-Brexit October 2016 low. While the broader outlook remains constructive, the immediate advance may be vulnerable as price approach near-term uptrend resistance. These are the updated targets and
Risk trades rise on hopes for a Brexit deal Most days the Brexit trade is limited to GBP, and perhaps EUR but today it’s the dominant force in all markets. To get a sense of the stakes, one-week implied volatility in GBP is 17% this week — the highest since the Brexit referendum. It’s not
In view of analysts at TD Securities, Brexit discussions continue to intensify with new deal text reportedly shared overnight. Key Quotes “While optimism has been expressed by both the UK and Irish sides, the EU Commission continues to maintain a cautious stance. Chief EU Negotiator Barnier suggested that the final legal text must be agreed
The Queen’s speech is due shortly but the debate on that begins later today The government’s policies on immigration, healthcare, infrastructure and the environment will be set out by the Queen’s speech today, which is due at the bottom of the hour. The whole thing is but a charade and the real risk for the