The Central Bank of Turkey raised the repo rate for one week to 17.75%, up from 16.5% previously, as a result, Turkish Lira strengthens 2.00% overnight.  The dollar index (KTM:USDX) at 93.40, US 10Y at 2.93% remain below 3.0%.

Today once again it will be quiet regarding Tier-1 data releases, and that will leave investors’ focus on Canada’s jobs data.

FX:

AUDUSD: Failing at 100EA, consolidating between (0.7595-0.7675)

AUDNZD: Traced out a double top and rejected at 200MA

EURUSD: Manages to close above 20MA again

EURGBP: Rejected at 200MA

GBPUSD: Manages to close above 20MA again
USDJPY: Stiff resistance @200MA
USDCHF: Closed below 50MA. Scope to test the support zone 0.9770-0.9730

USDTRY: Hovering above the parallel support at 4.4470

USDZAR: Closed above 200MA finally whereas 13.20$ will be the lid

NZDUSD: Paused at 38.2% fib reaction (0.7395-0.6850)

Commodity corner: 

Bitcoin: Unable to breach the early June high

Brent: Rebound 50.0% of the recent fall but a tad below 20MA at 77.50$

Copper: Fail to close above Dec 2017 high

Gold: Locked between 1308$-1289$

Silver: Rejected at 200MA. Bullish breakout looms >17.00$

Chart of the day: EURCAD

The cross was rejected at 1.5360 the parallel resistance above this, we see levels between the 1.5460-1.5510 as likely to meet resistance, and we target a move towards 1.5150 in the first instance. Noting that 50MA exists at 1.5380.

It is important to always keep in mind the risks involved in trading with leveraged instruments.

Have a question? Let us help!

A KTM Analyst is ready to assist you, click on the comment section below