Currency snapshot (major pairs)

Dollar index trading at 93.54 (+0.29%)

Strength meter (today so far) – Euro -0.23%, Franc -0.24%, Yen +0.04%, GBP -0.50%

Strength meter (since last week) – Euro -0.37%, Franc -0.93%, Yen -0.49%, GBP -0.62%

EUR/USD –

Trading at 1.177

Trend meter –

• Long term – Buy, Medium term – Buy, Short term – Sell

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.175

Resistance –

• Long term – 1.22, Medium term – 1.22, Short term – 1.22

Economic release today –

• Eurozone consumer price inflation at 1.5 percent y/y in September, core at 1.3 percent y/y.

Commentary –

• The euro is down this week as the dollar recovers on rate hike speculation fuelled by Janet Yellen’s comments. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.319

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Buy

Support –

• Long term – 1.28, Medium term – 1.295, Short term – 1.313

Resistance –

• Long term – 1.38 Medium term – 1.36, Short term – 1.36

Economic release today –

• RPI up 3.9 percent y/y in September.
• HPI up 5 percent y/y in September.
• PPI output at 3.3 percent y/y in September.
• PPI core output up 2.5 percent y/y.
• CPI rose to 3 percent y/y in September.
• CPI core at 2.7 percent y/y.

Commentary –

• The pound is down today and CPI inflation fails to beat expectation.

USD/JPY –           

Trading at 112.1

Trend meter –

• Long term – Sell, Medium term – sell, Short term – Range/Sell

Support –

• Long term – 107, Medium term – 108.4, Short term – 108.4

Resistance –

• Long term – 116, Medium term – 114.2, Short term – 114.2

Economic release today –

• NIL

Commentary –

• The yen remains downbeat on lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.978

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Sell

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 0.987

Economic release today –

• NIL

Commentary –

• Franc is a much weaker performer than the euro and the worst performer of the week. Active call – Buy pair targeting 1.02

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