Currency Coverage Week of 11/9/2020

Consolidated Calendar

 11/09/202011/10/202011/11/202011/12/202011/13/2020
USAJOLTS Job Openings Initial Claims, CPI ex Food & EnergyMichigan CSI
JPNCurrent Account    
UKGov Bailey’s SpeechClaimant Count Change, ILO UnemploymentGDP, Gov Bailey’s SpeechGov Bailey’s Speech
CAN     
AUS     

Correlation Table

DXY

Major Pairs

USD/JPY

Last Close: 103.37

Trend Chart: Short

Price Basket: Short

Yield Curve: Short

11/05 (Green) vs 10/29

CoT:

  • USD – Long
  • YEN – Short

Key Levels:

  • Resistance – 105.16
  • Support – 103.20

Central Banks Stance:

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

5-Day ADR (80, 95 confidence intervals): 0.93, 1.04

Geopolitical Risk :

  • USA – Presidential transition
  • JPN – Trade tensions

Overall Outlook: Short – though rebound could occur as move is entering overextended territory.

GBP/USD

Last Close: 1.3156

Trend Chart: Neutral

Price Basket: Long

Yield Curve: Long

11/04 (Green) vs 10/28

CoT:

  • GBP – Short
  • USD – Short

Key Levels:

  • Resistance – 1.3179
  • Support – 1.2950

Central Banks Stance:

  • BoE – Dovish

5-Day ADR (80, 95 confidence intervals): 0.0193, 0.0212

Geopolitical Risk:

  • UK – Brexit Negotiations

Overall Outlook: Neutral

Commodity Pairs

USD/CAD

Last Close: 1.3057

Trend Chart: Neutral

Price Basket: Long

Yield Curve: Neutral

CoT:

  • USD – Short
  • CAD – Long

Key Levels:

  • Resistance – 1.3329
  • Support – 1.3024

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, current move started to be overextended, could rebound soon.

AUD/USD

Last Close: 0.7260

Trend Chart: Neutral

Price Basket: Long

Yield Curve: Long

CoT:

  • AUD: Neutral
  • USD: Short

Key Levels:

  • Resistance: 0.7288
  • Support: 0.7018

Central Banks Stance:

  • RBA: Dovish

5-Day ADR (80, 95 confidence intervals): 0.0144, 0.0159

Commodity Stance:

  • Metals: Long

Geopolitical Risk: N/A

Overall Outlook: Neutral

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