America’s Roundup: Dollar gains on positive U.S. economic data,Wall Street ends higher, Gold slips, Oil gains on U.S.-China deal-January 17th,2020

Market Roundup

• 13:30 US Continuing Jobless Claims 1,767K, 1,720K forecast 1,804K previous

• 13:30 US Dec Core Retail Sales (MoM)    0.7%, 0.5% forecast 0.1% previous

• 13:30 US Dec Export Price Index (MoM) -0.2%, 0.2% forecast, 0.2% 0.2%  
 
• 13:30 US Export Price Index (YoY) -0.7%    , -1.3% previous

• 13:30 US Import Price Index (YoY) 0.5%    , -1.3% previous

• 13:30 US Dec Import Price Index (MoM) 0.3%, 0.3% forecast, 0.1% previous

• 13:30 US Initial Jobless Claims 204K, 216K forecast 214K previous

• 13:30 US Jobless Claims 4-Week Avg 216.25K, 224.00K previous

• 13:30 US Jan Philadelphia Fed Manufacturing Index 17.0, 3.8 forecast, 2.4 previous

• 13:30 US Jan Philly Fed Business Conditions 38.4, 34.8 previous

• 13:30 US Jan Philly Fed CAPEX Index 32.90, 26.00 previous

• 13:30 US Jan Philly Fed Employment 19.3, 16.8  previous

• 13:30 US Dec Retail Sales (MoM) 0.3%    , 0.3% forecast 0.3% previous

• 13:30 Canada ADP Nonfarm Employment Change 46.2K , 30.9K previous

• 13:30 US Nov Business Inventories (MoM) -0.2%,-0.1%  forecast, 0.1% previous

• 13:30 US Nov Retail Inventories Ex Auto -0.2%,-0.2% previous

Looking Ahead - Economic Data (GMT) 
   
• 21:00 US Nov Foreign Buying, T-bonds -16.80B previous

• 21:00 US Nov Overall Net Capital Flow -48.30B  previous

• 21:00 US Nov TIC Net Long-Term Transactions 34.5B, 32.5B previous

• 21:30 New Zealand Dec Business NZ PMI 51.4 previous

• 23:50 Japan Foreign Bonds Buying -192.7B previous

• 23:50 Japan Foreign Investments in Japanese Stocks -80.8B previous

• 00:00 Australia HIA New Home Sales (MoM) -0.5% previous

• 02:00 China Dec Fixed Asset Investment (YoY) 5.2% forecast, 5.2% previous

• 02:00 China GDP (QoQ) (Q4) 1.5% forecast, 1.5% previous

• 02:00 China GDP (YoY) (Q4) 6.0% forecast, 6.0% previous

• 02:00 China Dec Industrial Production (YoY) 5.9% forecast, 6.2% previous

• 02:00 China Unemployment Rate 5.1% previous

• 04:30 Japan Tertiary Industry Activity Index (MoM) -4.6% previous

Looking Ahead - Events, Other Releases (GMT)

• No significant events  
                 
Currency Summaries

EUR/USD: The euro declined against the U.S. dollar on Thursday, after multiple data releases painted a positive U.S. economic picture. The Commerce Department said on Thursday retail sales increased 0.3% last month. Data for November was also revised upward to show retail sales gaining 0.3% instead of rising 0.2%, as previously reported. The euro was down 0.12 percent at $1.1136. An index that tracks the dollar versus a basket of six major currencies was up 0.11 at 97.31 on Monday. Immediate resistance can be seen at 1.1164 (Daily High), an upside break can trigger rise towards 1.1213 (Higher BB).On the downside, immediate support is seen at 1.1138 (9 DMA), a break below could take the pair towards 1.1100 (Psychological level).

GBP/USD: Sterling strengthened against dollar Thursday, as investors increased bets on the Bank of England cutting interest rates later this month. Money markets are pricing in a roughly 57% chance of a 25 basis point cut to rates in January, down from more than 60% on Wednesday. Traders are now preparing for December retail sales data due on Friday, followed by purchasing managers’ index (PMI) surveys next week.Immediate resistance can be seen at 1.3079 (11 DMA), an upside break can trigger rise towards 1.3206 (Higher BB).On the downside, immediate support is seen at 1.3020 (50 DMA), a break below could take the pair towards 1.2913 (Lower BB).

USD/CAD: The Canadian dollar was little changed against the greenback on Thursday, extending this week's sideways trading pattern as the U.S. dollar broadly rose and data from a payroll services provider showed the sixth straight month of domestic job gains. Canada added 46,200 jobs in December, the sixth straight month of gains, led by increased hiring in education and health care, as well as construction, according to a report from ADP. At (20:30GMT), the Canadian dollar was trading nearly unchanged at 1.3042 to the greenback. Immediate resistance can be seen at 1.3063 (21 DMA), an upside break can trigger rise towards 1.3104 (Jan 8th high).On the downside, immediate support is seen at 1.3030 (9 DMA), a break below could take the pair towards 1.3000 (Psychological level).

USD/JPY: The dollar gained against the Japanese yen on Thursday, as some encouraging U.S. data boosted dollar across the board. The dollar has weakened since the United States and China on Wednesday signed a deal in which China will boost purchases of U.S. goods and services by $200 billion over two years in exchange for the rolling back of some tariffs. The dollar was last up 0.23% at 110.14 yen . Strong resistance can be seen at 110.23 (Jan 9thhigh), an upside break can trigger rise towards 110.64 (May 22nd High).On the downside, immediate support is seen at 109.83 (5 DMA), a break below could take the pair towards 109.40 (9 DMA).
 
Equities Recap

European shares ended higher on Thursday after the signing of a long anticipated Phase 1 U.S.-China trade deal lifted some level of near-term uncertainty, while disappointing earnings dragged down London shares.

UK's benchmark FTSE 100 closed up by 0.43  percent, Germany's Dax ended down by 0.02 percent, France’s CAC finished the day up by 0.11 percent.

U.S. stock index futures hovered near all-time highs on Thursday on optimism over an initial U.S.-China trade deal and a positive start to the fourth-quarter earnings season.

Dow Jones closed up by 0.80 percent, S&P 500 ended up by 0.69 percent, Nasdaq finished up by 0.85 percent.

Treasuries Recap

U.S. Treasury yields rose on Thursday on positive economic data and bank earnings, and higher demand for stocks.

The benchmark 10-year yield was up 2.1 basis points in afternoon trading at 1.8091%.

Commodities Recap

Gold slipped on Thursday, as the safe-haven metal was hurt by upbeat U.S. economic data that signalled a healthy economy, and as stock markets climbed on optimism brought about by the signing of the U.S.-China Phase 1 trade deal.

Spot gold fell 0.4% to $1,549.97 per ounce at 11:51 a.m. EST (1651 GMT). U.S. gold futures were down 0.2% at $1,550.8.                             
Oil rose on Thursday as the long-awaited Phase 1 trade deal between the United States and China brought some relief to markets, but the gains were capped after the International 7Energy Agency said it expected oil production to outpace demand.        
Brent was up 50 cents, or 0.8%, to $64.50 a barrel by 1449 GMT, and West Texas Intermediate rose by 38 cents, or 0.7%, to $58.19 a barrel.