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America's Roundup: Dollar firms as traders eye Trump's State of the Union address, Wall Street closes down higher, Gold edges higher, Oil slips on economic concerns, dollar gains-February 6th,2019

Market Roundup

• Trump pushes border wall fight ahead of State of the Union speech.

• Fed's Kaplan says patience on rates could last several months.

• U.S. says foreign meddling didn't affect 2018 election systems.

• Fed could raise rates as much as twice this year -BlackRock's Rieder.

• British PM May to visit Brussels in search of a Brexit deal.

• U.S. retail sales expected to top $3.8 trillion in 2019 –NRF.

• US Jan ISM N-Mfg PMI, 56.7, 57.2 forecast, 57.6 previous.

• US Jan ISM N-Mfg New Orders Index, 57.7, 62.7 previous.

• US Jan ISM N-Mfg Employment Index, 57.8, 56.3 forecast, 56.6 previous.

Looking Ahead - Economic Data (GMT)

• 21:30 Australia Jan AIG Construction Index, 42.6 previous

• 21:45 New Zealand Q4 HLFS Unemployment Rate, 4.1%, forecast, 3.9% previous

• 21:45 New Zealand Q4 HLFS Job Growth QQ, 0.3% forecast, 1.1% previous

Looking Ahead - Events, Other Releases (GMT)

• 13:50 Bank of Canada Deputy Governor Timothy Lane delivers speech at the Peterson Institute for International Economics in Washington D.C.

• 23:05 Fed's Chairman Randal Quarles speaks at Council for Economic Education Vantage Point Reception in New York.

Currency Summaries

EUR/USD: The euro slipped lower against the U.S. dollar on Tuesday, as after a survey showed that euro zone businesses expanded at their weakest rate since mid-2013 at the start of the year. Euro zone businesses expanded at their weakest rate since mid-2013 at the start of the year as demand fell for the first time in four years, with a manufacturing slowdown spreading to services, a survey showed on Tuesday. IHS Markit's Euro Zone Composite Final Purchasing Managers' Index (PMI), considered a good measure of overall economic health, dipped to 51.0 from December's 51.1, its lowest reading since July 2013.The euro was down 0.23 percent at $1.1409. Immediate resistance can be seen at 1.1440 (100 DMA), an upside break can trigger rise towards 1.1489 (Feb 1st high).On the downside, immediate support is seen at 1.1396 (38.2% retracement level), a break below could take the pair towards 1.1327 (23.6% retracement level).

GBP/USD: The British pound declined against the dollar on Tuesday, as weak survey data and uncertainty about Brexit talks weighed on pound. A closely watched gauge of the world's fifth-biggest economy, the IHS Markit/CIPS UK Services PMI, fell to 50.1 in January from 51.2 in December  its lowest level since July 2016 and barely above the 50 mark that separates growth from contraction.At 2015 GMT, sterling held near the day's low at $1.2953, falling 0.62 percent to its lowest level since Jan. 23. It had been higher before the PMI data, at $1.3051. Immediate resistance can be seen at 1.3000 (38.2% retracement level), an upside break can trigger rise towards 1.3087 (9 DMA).On the downside, immediate support is seen at 1.2913 (50% retracement level), a break below could take the pair towards 1.2827 (61.8% retracement level).

USD/CAD: The Canadian dollar weakened against its U.S. counterpart on Tuesday, as lower oil prices and stronger dollar weighed on Canadian dollar. The price of oil, one of Canada's major exports, fell a day after a report showing a decline in U.S. factory orders dragged major benchmarks down from 2019 highs. U.S. crude oil futures were down 1.1 percent at $53.94 a barrel. At (2005 GMT), the Canadian dollar   traded 0.1 percent lower at 1.3138 to the greenback. Immediate resistance can be seen at 1.3192 (9 DMA), an upside break can trigger rise towards 1.3240 (21 DMA).On the downside, immediate support is seen at 1.3132 (38.2% retracement level), a break below could take the pair towards 1.3098 (23.6% retracement level).

USD/JPY: The U.S. dollar strengthened against the yen on Tuesday, as continued recovery in investors' appetite for risk taking exerted pressure on safe-haven currencies, and the Japanese yen, which appreciates during risks, declined against the dollar. The dollar was 0.09 higher versus the Japanese yen at 109.91. The dollar index, which tracks the greenback versus the euro, yen, British pound and three other currencies, was up 0.24 percent at 96.06.Strong resistance can be seen at 110.11 (38.2% retracement level), an upside break can trigger rise towards 110.73 (50 DMA).On the downside, immediate support is seen at 109.62 (50% retracement level), a break below could take the pair towards 109.12 (61.8% retracement level). 

Equities Recap

European shares hit nine-week highs on Tuesday, as a recovery in banks, gains in oil stocks on stronger crude prices and a solid update from BP   helped offset some disappointing updates including from Apple supplier AMS.

The UK's benchmark FTSE 100 closed up by 2  percent, FTSEurofirst 300 ended the day down  by 1.45 percent, France’s CAC finished the up by 1.5 percent. Germany's Dax finished the day up by 1.7 percent .

U.S. stocks rose on Tuesday as largely upbeat corporate results fueled investor optimism ahead of the highly awaited State of the Union address by President Donald Trump.

Dow Jones closed up by 0.66 percent, S&P 500 ended up 0.45 percent, Nasdaq finished the day up by 0.74 percent.

Treasuries Recap

U.S. Treasury yields fell on Tuesday, with the 10-year sliding from one-week highs, as the market priced in the Federal Reserve's dovish interest rate view amid an uncertain global economic outlook.

In afternoon trading, U.S. 10-year note yields fell to 2.70 percent, down from 2.724 late on Monday.

U.S. 30-year bond yields were also down at 3.032 percent, from 3.06 percent on Monday.
On the short end, U.S. 2-year yields were down at 2.524 percent, compared with Monday's 2.532 percent.

Commodities Recap

Gold moved slightly higher on Tuesday, supported by uncertainties surrounding U.S.-China trade relations ahead of President Donald Trump's State of the Union address to the Congress, while a firmer dollar and rising global stock markets capped gains.

Spot gold edged up 0.2 percent to $1,314.66 per ounce by (2035 GMT) after hitting its weakest since Jan. 29 at $1,308.20 in the previous session.U.S. gold futures settled unchanged at $1,319.20 an ounce.

Oil prices fell on Tuesday, pulling back from two-month highs as concerns over a global economic slowdown crept back into the market and a stronger dollar also weighed.

Brent crude futures fell 39 cents to $62.12 a barrel. They touched their highest level in more than two months at $63.63 the previous day. U.S. crude futures dropped 82 cents to $53.74 a barrel, down 1.5 percent, at 2:03 p.m. EST (1903 GMT).

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March 19 07:00 UTC Released

CHTrade

Actual

3125 Mln CH

Forecast

Previous

3043 Mln CH

March 19 00:30 UTC Released

AUHome Price Index*

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-2.4 %

Forecast

-2 %

Previous

-1.5 %

January 31 00:00 UTC 594521594521m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 594521594521m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 606341606341m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 594521594521m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 606341606341m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 594521594521m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 594521594521m

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 594521594521m

ARAnnual Primary Balance*

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2016 bln ARS

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