America’s Roundup: U.S. dollar gains on rising COVID-19 cases and lockdown restrictions in Europe, Wall Street sinks 3%, Gold slides, Oil plunges over 5% to four-month low as pandemic surges, U.S. crude output soars-October 29th,2020
America’s Roundup: Dollar slips to near one-week low,Wall Street closes lower, Gold rises, Oil dips after OPEC+ meeting as Libyan supply boost weighs-October 20th,2020
Asia Roundup: Antipodeans rebound from multi-week lows, greenback eases on U.S. stimulus hope, markets eye ECB President Lagarde's speech - Wednesday, October 21st, 2020
Asia Roundup: Aussie rebounds as consumer confidence improves, greenback gains as U.S. stimulus remains elusive, investors eye ECB policy meet - Thursday, October 29th, 2020
America’s Roundup: Dollar gains in surge in COVID cases, U.S. stimulus worries,Wall Street closes down,Gold slips, Oil drops 3% as virus infections, Libyan oil output rebound-October 27th,2020
America’s Roundup: Dollar index hits seven-week low with COVID stimulus in focus ,Wall Street slips, Gold jumps 1%, Oil prices fall as inventory report reflects demand weakness-October 22nd, 2020
America’s Roundup:U.S. dollar index edges up from 7-week lows, Wall Street rises, Gold eases, Oil struggles to recover after U.S. gasoline stocks build-October 23rd 2020
Asia Roundup: Aussie at 3-week low as RBA minutes confirm rate cut on Nov. 3, greenback steadies amid caution over U.S. coronavirus aid, Asian shares slump - Tuesday, October 20th, 2020
Europe Roundup: Sterling steadies against dollar as Brexit talks extends, European stocks fall,Gold slips, Oil drops on rising virus cases, increasing Libyan output-October 26th,2020
Europe Roundup: Euro gains on weaker dollar, U.S. stimulus doubts, European shares dips,Gold gains, Oil rises towards $41 on U.S. Gulf shutdowns, outlook weak-October 27th,2020
Europe Roundup: Sterling on track for weekly gain as Brexit negotiations intensify, European stocks rise, Gold ticks up, Oil rises above $42 as possible OPEC+ cut extension offsets demand concern-October 23rd 2020
Asia Roundup: Kiwi slumps as CPI misses expectations, dollar steadies following U.S. presidential debate, Asian shares consolidate - Friday, October 23rd, 2020
Europe Roundup: Euro dips before ECB meeting, European shares dips, Gold holds steady, Oil extends losses with 4% slump on renewed lockdowns-October 29th,2020
America’s Roundup: Dollar set for best week in three weeks on stimulus uncertainty, virus concerns, Wall Street gains, Gold dips, Oil dips on COVID-19 resurgence, fears of more supply-October 17th,2020
Europe Roundup: Sterling gains against dollar as traders bet on Brexit breakthrough, U.S. stimulus bets ,European stocks gains ,Gold firms ,Oil falls on demand concerns and new European lockdowns-October 19th,2020
Europe Roundup: Sterling little changed against dollar as traders hope for Brexit trade deal, European shares edge higher, Gold holds steady, Oil steadies but coronavirus and supply pressures remain-October 20th,2020
America’s Roundup: Dollar dips against euro as month-end flows weigh, Wall Street ends up, Gold gains 1%,Oil surges 5% on U.S.-China trade optimism, falling crude output-May 30th,2020
• Dollar drops to more than two-month low
• Gold up more than 2% this month
• Canada GDP (YoY) (Q1) -0.91%, 1.47% previous
• Canada GDP Annualized (QoQ) (Q1) -8.2%m-10.0% forecast, 0.3% previous
• Canada GDP (QoQ) (Q1) -2.1% ,0.1% previous
• Canada GDP Implicit Price (QoQ) (Q1) 0.50%, 0.30% forecast, 1.00% previous
• Canada IPPI (YoY) -6.0%, -2.4% previous
• Canada April IPPI (MoM) -2.3%, -1.7% forecast, -0.9% previous
• US April Personal Income (MoM) 10.5%, -6.5% forecast, -2.0% previous
• US April Personal Spending (MoM) -13.6%, -12.6% forecast, -7.5% previous
• US April Real Personal Consumption (MoM) -13.2%, -7.3% previous
• US April PCE price index (MoM) -0.5%, -0.3% previous
• US April PCE Price index (YoY) 0.5, 1.3 previous
• US April Core PCE Price Index (MoM) -0.4% ,-0.3% forecast, -0.1% previous
• US April Core PCE Price Index (YoY) 1.0%, 1.1% forecast, 1.7% previous
• US April Goods Trade Balance-69.68B, -64.38B previous
• Canada March GDP (MoM) -7.2%, -9.0% forecast, 0.0% previous
• US Wholesale Inventories (MoM) 0.4%,-0.8% previous
• Brazil April Debt-to-GDP ratio 52.7%, 52.4% forecast, 51.7% previous
• Brazil April Budget Balance -115.800B, -120.100B forecast, -79.700B previous
• Brazil April Budget Surplus -94.300B, -118.600B forecast, -23.650B previous
•US May Chicago PMI 32.3, 40.0 forecast, 35.4 previous
•US May Michigan Current Conditions 82.3, 83.0 forecast, 74.3 previous
• US May Michigan 5-Year Inflation Expectations 2.70%, 2.50% previous
• US May Michigan Inflation Expectations 3.2%, 3.0% forecast, 2.1% previous
• US May Michigan Consumer Sentiment 72.3, 74.0 forecast, 71.8 previous
• US Michigan Consumer Expectations 65.9,67.7 forecast, 70.1 previous
• Canada March Budget Balance -14.79B ,3.58B previous
• Canada March Budget Balance (YoY) -21.77B, -6.98B previous
• US April Dallas Fed PCE 1.40%, 1.10% previous
Looking Ahead Economic Data
• No economic data ahead
Looking Ahead - Events, Other Releases (GMT)
• No significant events
EUR/USD: The euro extended its gains against dollar on Friday as the common currency continued to enjoy a boost from the European Union’s recently announced plan to prop up the bloc’s coronavirus-hit economies with a 750 billion-euro ($828 billion) recovery fund. The euro was 0.32% higher at $1.1102, on pace for its fourth straight day of gains. The euro’s rally this week has pushed it over its 200-day moving average for the first time since late March and lifted it about 2% for the week, its best weekly gain in nine weeks. Immediate resistance can be seen at 1.1166 (61.8% fib), an upside break can trigger rise towards 1.1200 (Psychological level).On the downside, immediate support is seen at 1.1060 (50 % fib), a break below could take the pair towards 1.0983(11 DMA).
GBP/USD: Sterling gained against dollar on Friday as dollar weakened the United States outlined its response to China's security law on Hong Kong, but were up for the month on optimism about major economies emerging from coronavirus lockdowns. U.S. President Donald Trump said he was directing his administration to begin the process of eliminating special treatment for Hong Kong in response to China's plans to impose new security legislation in the territory. An escalation in U.S.-China trade tensions has the capacity to further weigh on the global economy, which is already in dire straits due to the novel coronavirus pandemic. Immediate resistance can be seen at 1.2369 (Daily high), an upside break can trigger rise towards 1.2459 (Higher BB).On the downside, immediate support is seen at 1.2319 (50% fib), a break below could take the pair towards 1.2235 (11 DMA).
USD/CAD: The Canadian dollar was little changed against its broadly weaker U.S. counterpart on Friday as data showed a deep slump in the domestic economy in the first quarter, with the loonie pulling back from an earlier two-and-a-half-month high. Canada’s GDP fell at an annualized rate of 8.2% in the first quarter as a result of reduced spending and widespread shutdowns of non-essential businesses in March due to the coronavirus pandemic, Statistics Canada said. In a flash estimate, Canada's national statistics agency projected an 11% decline for GDP in April from March. Immediate resistance can be seen at 1.3433 (Higher BB), an upside break can trigger rise towards 1.3500 (Psychological level).On the downside, immediate support is seen at 1.3377 (5 DMA), a break below could take the pair towards 1.3332 (9 DMA).
USD/JPY: The dollar declined against the Japanese yen on Friday as raising tensions between China and US increased demand for Japanese yen. U.S. President Donald Trump said on Friday he was directing his administration to begin the process of eliminating special treatment for Hong Kong, in response to China’s plans to impose new security legislation in the territory. Escalating U.S.-China tension has prompted investors to seek refuge in yen, which is widely viewed as a safe-haven investment during times of political and financial uncertainty. Strong resistance can be seen at 107.90 (38.2% fib), an upside break can trigger rise towards 108.38 (Higher BB).On the downside, immediate support is seen at 106.61 (50% fib), a break below could take the pair towards 105.91 (Lower BB).
European shares dipped on Friday as investors awaited Washington’s response to China’s national security law on Hong Kong amid rising tensions between the world’s two biggest economies.
UK's benchmark FTSE 100 closed up by 2.29 percent, Germany's Dax ended down by 1.65 percent, France’s CAC finished the day down by 1.59 percent.
U.S. stocks finished mostly higher on Friday after President Donald Trump announced measures against China in response to new security legislation that were less threatening to the U.S. economy than investors had feared.
Dow Jones closed down by 0.07% percent, S&P 500 closed down by 0.48% percent, Nasdaq settled up by 1.29% percent.
U.S. Treasury yields dipped on Friday as concerns about escalating tensions between the United States and China weighed on risk sentiment.
Benchmark 10-year yields fell four basis points to 0.669%. The two-year 10-year yield curve flattened to 50 basis points, from 52 basis points.
Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact and on falling crude production.
West Texas Intermediate crude futures for July delivery settled at $35.49 a barrel, jumping $1.78, or 5.3%.
July Brent crude closed at $35.33 a barrel, gaining 4 cents. However, the more active August contract ended at $37.84, rising $1.81, or roughly 5%.
Gold rose 1% on Friday as caution set in with investors awaiting U.S. President Donald Trump’s response to a Chinese national security law for Hong Kong and its potential impact on an already fragile global economy.
Spot gold climbed 0.9% to $1,734.60 per ounce by 12:42 p.m. EDT (1642 GMT).U.S. gold futures rose 1.3% to $1,750.20.