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Market analysis： Overall, GBP/JPY is trending downwards. Recently, GBP/JPY trended lower, breaking below the key level of 135 after a strengthening in USD due to an increase in demand caused by a strong sell-off in various stock markets. The Bank of England Governor Andrew Bailey will be speaking at a webinar later at 1530 (SGT). During this time, there may be volatility in GBP. Japanese banks will be closed today in observance of Autumnal Equinox Day. Lower trading volume and volatility is expected during the Japanese trading hours. The Japanese Flash Manufacturing PMI data (Forecast: 48.0, Previous: 47.2 revised from 46.6) will be released tomorrow at 0830 (SGT). Currently, GBP/JPY is testing the support zone of 133.780 and the next resistance zone of 136.200. Look for selling opportunities of GBP/JPY if it breaks the support zone of 133.780.

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Market analysis： Overall, USD/CAD is trended upwards. Recently, USD/CAD soared and broke the resistance zone of 1.32300 after a strengthening in USD due to an increase in demand caused by a strong sell-off in various stock markets. USD/CAD’s next support zone is at 1.32300 and the next resistance zone is at 1.33500. Look for buying opportunities of USD/CAD.

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Market analysis： Overall, GBP/USD is trending downwards. Recently, GBP/USD plunged below the key level of 1.29 after a strengthening in USD due to an increase in demand caused by a strong sell-off in various stock markets. The Bank of England Governor Andrew Bailey will be speaking at a webinar later at 1530 (SGT). During this time, there may be volatility in GBP. Currently, GBP/USD is testing the support zone of 1.28000 and the next resistance zone is at 1.30000. Look for selling opportunities of GBP/USD if it breaks the support zone of 1.28000.

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Market analysis： Overall, EUR/USD is ranging across. Recently, EUR/USD broke the support zone of 1.17800 after a strengthening in USD due to an increase in demand caused by a strong sell-off in various stock markets. Yesterday, European Central Bank President Christine Lagarde said in an unscheduled speech that the strength of the recovery of euro is uncertain despite the recent economic data indicating a strong rebound in the third quarter. EUR/USD’s next support zone is at 1.15300 and the next resistance zone is at 1.17800. Look for selling opportunities of EUR/USD.

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Market analysis： Overall, USD/JPY is trending downwards. Recently, USD/JPY strengthened and bounced off the support zone of 104.400 after a strengthening in USD due to an increase in demand caused by a strong sell-off in various stock markets. Japanese banks will be closed today in observance of Autumnal Equinox Day. Lower trading volume and volatility is expected during the Japanese trading hours. The Japanese Flash Manufacturing PMI data (Forecast: 48.0, Previous: 47.2 revised from 46.6) will be released tomorrow at 0830 (SGT). Currently, USD/JPY is moving towards the support zone of 104.400 and the next resistance zone is at 105.400. Look for short-term buying opportunities of USD/JPY if it bounces off the support zone of 104.400.

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Market analysis： Overall, AUD/USD is ranging across. Recently, AUD/USD trended downwards and broke the support zone of 0.72500 after a strengthening in USD due to an increase in demand caused by a strong sell-off in various stock markets. Earlier today, Reserve Bank of Australia Deputy Governor Debelle said in a speech that a lower AUD exchange rate will benefit the Australian economy. Also, the central bank is assessing other monetary policy easing tools, among which is further interest rate cut into the negative level although Debelle also highlighted that the empirical evidence on negative interest rate is mixed. AUD/USD weakened as a result. The Australian flash PMI data will be released tomorrow at 0700 (SGT). -Flash Manufacturing PMI (Forecast: NA, Previous: 53.6 revised from 53.9) -Flash Services PMI (Forecast: NA, Previous: 49.0 revised from 48.1) AUD/USD’s next support zone is at 0.72500 and the next resistance zone is at 0.73800. Look for selling opportunities of AUD/USD.

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Market analysis： Overall, NZD/USD is trending upwards. Recently, NZD/USD rejected the resistance zone of 0.67600 after a strengthening in USD due to an increase in demand caused by a strong sell-off in various stock markets. The Reserve Bank of New Zealand (RBNZ) will be announcing their interest rate decision tomorrow at 1000 (SGT). It is expected that the RBNZ will be holding rates unchanged at 0.25%. Having already expanded its Large Scale Asset Purchase (LSAP) programme from NZ$60 billion to NZ$100 billion during the previous monetary policy meeting in August, it is likely that the central bank will stay put for the moment. The RBNZ may also reiterate their plan on cutting interest rate below zero next year. Doing so may cause NZD/USD to further weaken from its recent downward move. NZD/USD’s next support zone is at 0.65200 and the next resistance zone is at 0.67600. Look for short-term selling opportunities of NZD/USD up until the release of the interest rate decision tomorrow at 1000 (SGT).

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Market analysis： USD Overview (22 September 2020) Yesterday, USD strengthened against all major currencies after a strong sell-off in various stock markets, leading to a rise in demand of USD. Federal Reserve Chairman Jerome Powell will be testifying on the CARES Act before the House Financial Services Committee later at 2230 (SGT). During this time, there may be volatility in the USD.

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Market analysis： USD Overview (21 September 2020) Last Friday, USD strengthened against most major currencies except NZD and JPY. The U.S. Preliminary UoM Consumer Sentiment data (Actual: 78.9, Forecast: 75.0, Previous: 74.1 revised from 72.8) released last Friday indicated an improved sentiment from the surveyed consumers on their personal finances and business conditions. Federal Reserve Chairman Jerome Powell will be speaking along with the other board members later at 2200 (SGT). During this time, there may be volatility in USD.

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Market analysis： Overall, NZD/USD is trending upwards. Currently, NZD/USD is testing the resistance zone of 0.67600 and the next support zone is at 0.65200. Look for buying opportunities of NZD/USD if it breaks the resistance zone of 0.67600.

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Market analysis： Overall, AUD/USD is ranging across. AUD/USD’s next support zone is at 0.72500 and the next resistance zone is at 0.73800. Look for buying opportunities of AUD/USD.

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Market analysis： Overall, USD/JPY is trending downwards. Recently, USD/JPY trended into the support zone of 104.400. The Japanese banks will be closed today in observance of Respect-for-the-Aged Day. Lower trading volume and volatility is expected during the Japanese trading hours. The Japanese banks will also be closed tomorrow in observance of Autumnal Equinox Day. Currently, USD/JPY is testing the support zone of 104.400 and the next resistance zone is at 105.400. Look for selling opportunities of USD/JPY if it breaks the support zone of 104.400.

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Market analysis： Overall, EUR/USD is ranging across. EUR/USD’s next support zone is at 1.17800 and the next resistance zone is at 1.19700. Look for buying opportunities of EUR/USD.

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Market analysis： Overall, GBP/USD is trending downwards. Recently, GBP/USD is ranging across. The UK Retail Sales m/m data (Actual: 0.8%, Forecast: 0.8%, Previous: 3.7% revised from 3.6%) released last Friday indicated a slowdown in consumer spending in August. Currently, GBP/USD is moving towards the resistance zone of 1.30000 and the next support zone is at 1.28000. Look for selling opportunities of GBP/USD if it bounced off the resistance zone of 1.30000.

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Market analysis： Overall, USD/CAD is ranging across. Recently, USD/CAD bounced down from the key level of 1.32. The Canadian Retail Sales m/m data released last Friday indicated a strong decline in consumer spending in July. -Core Retail Sales m/m (Actual: -0.4%, Forecast: 0.5%, Previous: 15.5% revised from 15.7%) -Retail Sales m/m (Actual: 0.6%, Forecast: 0.8%, Previous: 22.7% revised from 23.7%) USD/CAD’s next support zone is at 1.30000 and the next resistance zone is at 1.32300. Look for selling opportunities of USD/CAD.

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Market analysis： Overall, USD/CAD is ranging across. Recently, USD/CAD bounced down from the key level of 1.32. The Canadian Retail Sales m/m data released last Friday indicated a strong decline in consumer spending in July. -Core Retail Sales m/m (Actual: -0.4%, Forecast: 0.5%, Previous: 15.5% revised from 15.7%) -Retail Sales m/m (Actual: 0.6%, Forecast: 0.8%, Previous: 22.7% revised from 23.7%) USD/CAD’s next support zone is at 1.30000 and the next resistance zone is at 1.32300. Look for selling opportunities of USD/CAD.

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Market analysis： Overall, GBP/JPY is trending downwards. Recently, GBP/JPY bounced off the resistance zone of 136.200. The UK Retail Sales m/m data (Actual: 0.8%, Forecast: 0.8%, Previous: 3.7% revised from 3.6%) released last Friday indicated a slowdown in consumer spending in August. The Japanese banks will be closed today in observance of Respect-for-the-Aged Day. Lower trading volume and volatility is expected during the Japanese trading hours. The Japanese banks will also be closed tomorrow in observance of Autumnal Equinox Day. Currently, GBP/JPY is moving towards the key level of 135. Its next support zone is at 133.780 and the next resistance zone of 136.200. Look for selling opportunities of GBP/JPY.

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Market analysis： Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke below the key level of 124. The Japanese banks will be closed today in observance of Respect-for-the-Aged Day. Lower trading volume and volatility is expected during the Japanese trading hours. The Japanese banks will also be closed tomorrow in observance of Autumnal Equinox Day. EUR/JPY’s next support zone is at 121.700 and the next resistance zone is at 124.600. Look for selling opportunities of EUR/JPY.

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Market analysis： USD Overview (18 September 2020) Yesterday, USD weakened against all the major currencies. The U.S. Preliminary UoM Consumer Sentiment data (Forecast: 75.0, Previous: 74.1 revised from 72.8) will be released later at 2200 (SGT).

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Market analysis： Overall, NZD/USD is trending upwards. Recently, NZD/USD trended into the resistance zone of 0.67600. Currently, NZD/USD is testing the resistance zone of 0.67600 and the next support zone is at 0.65200. Look for buying opportunities of NZD/USD if it breaks the resistance zone of 0.67600.