Currency Coverage Week of 11/16/2020

Consolidated Calendar

 11/16/202011/17/202011/18/202011/19/202011/20/2020
USA Retail SalesBuilding Permits, Housing Starts (MoM)Jobless Claims, Existing Home Sales (MoM) 
JPNGDP (QoQ)    
UK Gov Bailey’s SpeechCPI  
CAN Gov Macklem SpeechConsumer CPI Retail Sales 
AUSGov Lowe’s Speech, RBA Meeting MinutesGov Lowe’s Speech Employment Change, Unemployment RateRetail Sales 

Correlation Table

DXY

Major Pairs

USD/JPY

Last Close: 104.64

Trend Chart: Short

Price Basket: Short

Yield Curve: Long

11/12 (green) vs 11/05

CoT: (Holiday – 11/10 Release Delayed)

  • USD – Long
  • YEN – Short

Key Levels:

  • Resistance – 105.58
  • Support – 103.22

Central Banks Stance:

  • FED – Dovish (Short)
  • BoJ – Dovish (Long)

5-Day ADR (80, 95 confidence intervals): 1.39, 1.62

Geopolitical Risk :

  • USA – Presidential transition
  • JPN – Trade tensions

Overall Outlook: Long

GBP/USD

Last Close: 1.3196

Trend Chart: Neutral

Price Basket: Neutral

Yield Curve: Short

11/10 (highlighted) vs 11/04

CoT: (Holiday – 11/10 Release Delayed)

  • GBP – Short
  • USD – Short

Key Levels:

  • Resistance – 1.3196
  • Support – 1.2940

Central Banks Stance:

  • BoE – Dovish

5-Day ADR (80, 95 confidence intervals): 0.0118, 0.0123

Geopolitical Risk:

  • UK – Brexit Negotiations

Overall Outlook: Short

Commodity Pairs

USD/CAD

Last Close: 1.3135

Trend Chart: Neutral

Price Basket: Short

Yield Curve: Neutral

11/12 (green) vs 11/05

CoT: (Holiday – 11/10 Release Delayed)

  • USD – Short
  • CAD – Long

Key Levels:

  • Resistance – 1.3399
  • Support – 1.2935

Central Banks Stance:

  • BoC: Dovish

5-Day ADR (80, 95 confidence intervals): 0.0167, 0.0179

Commodity Stance:

  • Metals: Short
  • Oil/Energy: Long

Geopolitical Risk: N/A

Overall Outlook: Long

AUD/USD

Last Close: 0.7270

Trend Chart: Neutral

Price Basket: Neutral

Yield Curve: Short

11/12 (red) vs 11/05

CoT: (Holiday – 11/10 Release Delayed)

  • AUD: Neutral
  • USD: Short

Key Levels:

  • Resistance: 0.7341
  • Support: 0.7079

Central Banks Stance:

  • RBA: Dovish

5-Day ADR (80, 95 confidence intervals): 0.0066, 0.0069

Commodity Stance:

  • Metals: Long

Geopolitical Risk: N/A

Overall Outlook: Short

Leave a Comment