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Dovish FOMC Minutes, Mixed Indices & Awaiting for U.S Powell's Speech

By Research Team Thursday, Jan 10, 2019
FOREX

USD/CHF Outlook

    • 3.48 PM ISTD1
    • High0.97691
    • Low0.97144
    • Close0.97606

USD/CHF is trading at 0.97570, 0.21% up since Wednesday. The Swiss Franc seemed to be trading stronger against the USD due to mixed global cues. The FOMC’s cautious approach towards interest rate hike in near term outweighed the positive sentiments from U.S-China trade deal ended up on Wednesday. The Swiss nations’ Foreign Currency Reserves reduced to 729B from 749B in the previous month. Earlier, the Manufacturing PMI rose to 57.8 higher than the expectation of 57.0 turning positive for USD/CHF. As seen in the chart, the pair is trading crossed down the lower trend-line of channel pattern & hence, the positive trading can be seen in CHF against the USD.

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Special Outlook

USD/CHF

Intra Day
Near Day

Technical Levels

R3 0.99324
R2 0.98471
R1 0.97932
Turnaround 0.97610
S1 0.97079
S2 0.96765
S3 0.95912
By Research Team Thursday, Jan 10, 2019
COMMODITY

COFFEE Outlook

    • 4.20pm ISTD1
    • High105.46
    • Low104.41000
    • Close105.51

Coffee is trading at $105.01, 0.32% up since Wednesday. The prices rallied on Tuesday after optimism hits the market as U.S & China agreed to extend a meeting on Wednesday coming out with some sort of trade agreement. Last week, the change in climatic conditions in Brazil increased the output & supplies of Coffee which suppressed its prices testing the lows of $99 levels. The firm USD on an account of mixed global cues makes Brazilian Real (BRL) currency stronger making the Coffee more expensive while exporting to U.S. As seen in the chart, the Coffee successfully reversed upside from major support area of previous lows indicating the buying momentum on daily basis.

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Special Outlook

Coffee

Intra Day
Near Day

Technical Levels

R3 110.21000
R2 107.71000
R1 106.21000
Turnaround 105.21000
S1 103.71000
S2 102.71000
S3 10.00000
By Research Team Thursday, Jan 10, 2019
INDICES

CHNComp Outlook

    • 4.08pm ISTD1
    • High10413
    • Low10267
    • Close10372

CHNComp is trading at 10372 making a day-high of 10413 & day low of 10267. The positive momentum can be noticed in Asian shares following the firm U.S stocks as China exclaimed detailed talks over trade disputes on Wednesday. In China, the PPI rate grew by just 0.9% lower than the expectation of 1.6% & the CPI rate increased by 1.9% versus 2.2% in the previous month. These factors failed to create any negative effect in CHNComp. The China is to issue its Money Supply & New Loans data on Friday which will remain in focus. As seen in the chart, the index crossed the short term moving Averages & hence, buying on corrective dips may be suggested on the daily basis.

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Special Outlook

CHNComp

Intra Day
Near Day

Technical Levels

R3 10675.00000
R2 10512.00000
R1 10425.00000
Turnaround 10349.00000
S1 10262.00000
S2 10186.00000
S3 10023.00000