• Shivkumar

21st October - Forex Analysis & Economic Data - By Shivkumar


  • USD/JPY USD/JPY is about flat on the day at 105.39 at the time of writing.

Bullish/ Bearish: - The US stimulus saga continues and it is up in the air just as it ever was. The clock is ticking, US stimulus talks will continue later today.

  • XAU/USD keeps mild gains above $1,900 amid stimulus hopes.

Bullish/ Bearish: - Gold prices rise to $1,913, up 0.36% intraday as markets in Tokyo open for Wednesday’s trading. The yellow metal benefited from the broad US dollar weakness, amid hopes of the American COVID-19 stimulus, during the previous day.

  • AUD/USD: -AUD/USD takes rounds to 0.7060/55 during Wednesday’s Asian session.

Bullish/ Bearish: - is currently trading around 0.7045, surrounding the 0.7000 threshold. Until then, the level of 0.7101 holds the key for the bulls’ entries.

  • EUR/USD EUR/USD stays mildly positive around intraday high of 1.1834.

Bullish/ Bearish: - any downside below at 1.1800, can recall targeting the monthly support line, currently around 1.1710. Or EUR/USD bulls remain positive beyond 1.1860, the 1.1900 threshold and peak surrounding 1.1920.

  • NZD/USD NZD/USD pierces 0.6600, up 0.42% intraday, by press time of early Wednesday. New Zealand’s economy depends majorly on the dairy industry and hence any positive news for the same can help the NZD bulls.


ECONOMIC DATA AND ITS IMPACT


  • JPY: - Bank of Japan speech. Medium to high impact on market.

  • GBP: - Consumer price index, Public sector borrowing, producer price index, PPI core input. Medium to high impact on the market.

  • EUR: - European Central Bank speech, Data. Medium to high impact on the market.

  • USD: - Fed Speech & Books. Medium to high impact on the market.

  • CAD:- Consumer price index, Retail sale, Housing policy. Medium to high impact on the market.

Good Luck & Let’s approach the market with proper education, Risk & Money Management rules.

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