The release of US consumer confidence data released at 21:00 WIB will be the main focus of the market today which will be a clue to the health of the US economy. If the data shows a higher result than the 132.1 estimate, it is likely to support the strengthening of the US dollar, and vice versa.
Previous market focus will be on speeches by FOMC member Charles Evans and speech by MP Broadcasting MPC members for the US Federal Reserve and Bank of England monetary policy guidelines.
Movement Potential
Gold
Gold prices have a chance to strengthen in the short term behind the outlook for global slowdown concerns that could increase demand for gold safe haven assets to test the resistance level at $ 1327 - $ 1330. However, if prices turn down, support levels are seen in the area of $ 1317 - $ 1314 with the market focus going towards the release of US consumer confidence data for clues to the US dollar's movement.
Oil
After ending higher on Monday due to supply reduction sentiment and falling reserves in the US, oil prices have a chance to turn down to test support at $ 58.60 - $ 58.15 if the market returns to worry about the outlook for a global economic slowdown that could reduce demand. Meanwhile if the price rises, the resistance level is at $ 59.60 - $ 60.40.
EURUSD
EURUSD has the chance to move up in the short term to test the resistance level at 1.1360 - 1.1420 on optimistic sentiment on the data of the German business climate and the weakening of the US dollar. If the price moves down, the support level is seen in the area of 1.1270 - 1.1220 with the German consumer climate data version of Gfk at 14:00 WIB potentially becoming a catalyst for the movement of this currency pair.
GBPUSD
There are still market concerns about Brexit uncertainty that are likely to trigger a decline in GBPUSD to test the support level at 1.3150 - 1.3100. If it moves up, the resistance level is at 1.3250 - 1.3300. Speeches for MPC Broadbent members scheduled for 18:00 WIB have the chance to trigger volatility in this currency pair.
USDJPY
The outlook for a weakening US dollar and rising demand for safe haven assets are likely to trigger a decline in the USDJPY in the short term to test the support level at 109.70 - 109.45. If it moves up, the resistance level is at 110.35 - 110.65.
AUDUSD
AUDUSD has a chance to move up in the short term on the sentiment of an optimistic statement from the Chinese PM in the face of economic weakness and the weakening US dollar to test the resistance level at 0.7135 - 0.7170. To the downside, the support level is at 0.7085 - 0.7065.