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Market Review 15-10-21

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Forex Today: Dollar pressured by weaker yields

What you need to know on Friday, October 15:

As Treasury yields held at the lower end of the weekly range, the dollar remained weak. The yield on the 10-year US Treasury note bottomed at 1.507%, ending the day nearby. As for the greenback, it managed to post a modest intraday advance against the EUR and the CHF.

Wall Street rallied on the back of better than expected earnings reports from big names, including banks such as Morgan Stanley, Bank of America and Citigroup.

Upbeat US data provided additional support to the market’s mood. The September Producer Price Index was up 0.5% MoM and 8.6% YoY, higher than the August readings although below the market’s expectations, while Initial Jobless Claims for the week ended October 8 printed at 293K, much better than the 319K expected.

EUR/USD lost the 1.1600 threshold, ending the day a few pips below the level. GBP/USD settled at 1.3860, while commodity-linked currencies were the best performers. AUD/USD regained the 0.7400 mark, while USD/CAD fell to 1.2354, a fresh multi-week low.

Oil prices were up. The International Energy Agency said that record natural gas prices would boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply. WTI settled at $81.40 a barrel. Gold flirted with $1,800 a troy ounce, ending the day just below the level.

Friday will bring US Retail Sales and the Michigan Consumer Sentiment Index.

Source: https://www.fxstreet.com/news/forex-today-dollar-pressured-by-weaker-yields-202110141943

According to Rekha Chauhan (Analyst at FXStreet – 3rd party source) the USDJPY is long positions above 113.86 with target at 114.37

Past performance is not a guarantee of future performance

Source: https://www.fxstreet.com/news/usd-jpy-price-analysis-rallies-toward-2018-highs-above-11400-202110150614

Number of Lots: Required Margin: Risk Management (50%): Potential Profit/Loss 114.37
1 € 2,873.56 € 1,436.78 € 385.28
5 € 14,367.82 € 7,183.91 € 1,926.42
10 € 28,735.63 € 14,367.82 € 3,852.84
25 € 71,839.08 € 35,919.54 € 9,632.09
50 € 143,678.16 € 71,839.08 € 19,264.18

The above chart and any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material.

Asian Stock Market: Trades mostly in green, tracking global cues

Asian stocks trade higher on the last trading day of the week, tracing the firmly positive Wall Street cues in the overnight session. Investors remain optimistic about upbeat US corporate earnings and better-than-expected labor data.

MSCI’s broadest index of Asia-pacific shares outside Japan rose 0.6%.

The ASX 200 trades higher 0.7% on Friday led by miners amid rising energy and metal prices. However, the coronavirus cases in Victoria hovered near record levels with a total of 2,179 new cases.

The Nikkei 225 index jumps 0.7% higher following the Japanese technology sector gains. Meanwhile, the policymakers in Japan cut their outlook for exports despite a weaker yen.

Hang Seng rose 1.21% whereas South Korea’s Kospi gained 0.94%.

Gold retreats from one-month highs and trades near $1,793, with 0.26% losses.

Source: https://www.fxstreet.com/news/asian-stock-market-trade-mostly-in-green-tracking-global-cues-202110150529

According to Dhwani Mehta (Analyst at FXStreet 3rd party source) the GOLD is long positions above $1,796 with target at $1,807

Past performance is not a guarantee of future performance

Source: https://www.fxstreet.com/analysis/gold-price-forecast-xau-usd-bulls-testing-bears-commitment-at-crucial-daily-resistance-us-consumer-data-eyed-202110150523

Number of Lots: Required Margin: Risk Management (50%): Potential Profit/Loss 1807
1 € 7,741.38 € 3,870.69 € 948.28
5 € 38,706.90 € 19,353.45 € 4,741.38
10 € 77,413.79 € 38,706.90 € 9,482.76
25 € 193,534.48 € 96,767.24 € 23,706.90
50 € 387,068.97 € 193,534.48 € 47,413.79

The above chart and any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material.

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