Asia Roundup: Japanese yen gains as China passes national security law, dollar steadies as investors eye U.S. manufacturing PMI, Asian shares nudge higher - Wednesday, July 1st, 2020
Asia Roundup: Aussie gains on vaccine hopes, greenback at 1-week trough ahead of U.S. payrolls, Asian shares rally - Thursday, July 2nd, 2020
Asia Roundup: Yen rallies as rising coronavirus cases threaten economic reopening, investors eye German CPI data - Monday, June 29th, 2020
America’s Roundup: Dollar edges lower amid uncertain U.S. outlook, Wall Street gains,Gold gains, Oil slips slightly on rising coronavirus cases, returning Libyan supplies-1st July 2020
Asia Roundup: Aussie eases as virus cases mount, gold steadies near more than 8-year high, Asian shares nudge lower - Wednesday, July 8th, 2020
America’s Roundup: Dollar turns higher as focus turns to surging coronavirus cases, Wall Street jumps, Gold gains, Oil up more than 2% on U.S. jobs data but virus fears cap gains-July 3rd 2020
Europe Roundup: Euro rises on upbeat Euro zone retail sales data, European shares gain, Gold ticks higher, Oil mixed on tighter supply, surge in U.S. virus cases-July 6th,2020
America’s Roundup: Dollar falters as decent U.S. data curbs safe haven demand, Wall Street gains, Gold retreats from near 8-year peak, Oil prices firm on factory, inventory data-July 2nd, 2020
Europe Roundup: Sterling gains on infrastructure spending promise, Brexit caps gains, European shares gain Gold holds close to near 8-year peak, Oil rises on improving economic data, supply cut-June 29th,2020
America’s Roundup: Dollar climbs from four-week low as U.S. stocks decline, Wall Street dips, Gold slips after nine-year high, Oil slips on fears rising COVID-19 cases to clip demand-July 10th,2020
Asia Roundup: Yen rallies as coronavirus worries deepen, gold set for 5th straight weekly gain, Asian shares slump - Friday, July 10th, 2020
Europe Roundup: Sterling heads for first weekly win against dollar, European stocks dips, Gold holds steady, Oil falls below $43 on virus fears, still heads for weekly gain-July 3rd 2020
America’s Roundup: U.S. dollar slides as vaccine news offsets surge in virus cases, Wall Street gains, Gold poised for fifth weekly gain, Oil rises as International Energy Agency boosts demand forecast-July 11th,2020
Americas Roundup: U.S. dollar slides to two-week low,Wall Street inches up, Gold smashes through $1,800 level,Oil falls as rise in virus cases, U.S. inventories stall recovery-July 9th,2020
Europe Roundup: Euro dips lower against dollar as markets balanced hopes for a global economic recovery, European stocks dips,Gold hits 8-year peak.Oil rises on manufacturing data, U.S. inventories-July 1st 2020
Europe Roundup: Sterling rises on delayed response to Sunak's economic plan,European shares gain, Gold rises towards nine-year peak , Oil slips as coronavirus fears offset gasoline recovery signs-July 9th,2020
America’s Roundup: Dollar hits 11-week low against major currencies, Wall Street gains, Gold firms, Oil steady; U.S.-China tensions weigh, possible output cuts support-June 2nd, 2020
• U.S. factory activity eases off an 11-year low in May
• Canada May RBC Manufacturing PMI 40.6, 33.0 previous
• US May Manufacturing PMI 39.8, 39.8 forecast, 36.1 previous
• US May ISM Manufacturing PMI 43.1, 43.0 forecast, 41.5 previous
• US May Construction Spending (MoM) -2.9%, -6.0% forecast, 0.9% previous
• US May ISM Manufacturing Employment 32.1 , 35.0 forecast, 27.5 previous
• US May ISM Manufacturing New Orders Index 31.8,27.1 previous
• US May ISM Manufacturing Prices 40.8, 37.0 forecast, 35.3 previous
• Brazil May Trade Balance 4.50B, 4.70B forecast, 6.70B previous
Looking Ahead Economic Data
• 21:00 New Zealand April Building Consents (MoM) -21.3% previous
• 21:00 New Zealand Terms of Trade Index (QoQ) (Q1) 1.3% forecast,2.6 previous
• 00:00 Australia HIA New Home Sales (MoM) -23.2% previous
• 01:30 Australia Company Gross Operating Profits (QoQ) (Q1) -3.5% forecast, -3.5% previous
• 01:30 Australia Current Account (Q1) 6.3B forecast, 1.0B previous
• 01:30 Australia Business inventories (MoM) (Q1) -0.7% forecast, 0.3% previous
• 04:30 Australia June RBA Interest Rate Decision
Looking Ahead - Events, Other Releases (GMT)
• No significant events
EUR/USD: The euro gained against dollar on Monday as investors took cheer from signs that some economies may be through the worst of the coronavirus downturn. Investors were also relieved that U.S. President Donald Trump made no move to impose new tariffs on China during a news conference on Friday when he outlined his response to Beijing’s tightening grip over Hong Kong. In the euro zone, the manufacturing PMI recovered somewhat in May from April’s record low, although factory activity still contracted heavily. The euro gained, rising 0.4% to $1.1154 before falling back to trade flat at $1.1115.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 1.1067 (50 % fib), a break below could take the pair towards 1.0995 (9 DMA).
GBP/USD: The pound rose to a four-week high against the dollar on Monday, comfortably above the $1.24 mark, as a risk-on mood in global markets prompted by hopes for an economic recovery caused the safe-haven dollar to weaken. Global risk appetite took boost from signs that Europe’s economic downturn has reached its worst. This caused cable to strengthen as the dollar weakened. Against a broadly weaker dollar, the pound hit a four-week high of $1.2488 around 1500 GMT. It was last at $1.2493, up 0.9% on the day. Immediate resistance can be seen at 1.2532 (61.8% fib), an upside break can trigger rise towards 1.2600 (Psychological level).On the downside, immediate support is seen at 1.2368 (5 DMA), a break below could take the pair towards 1.2317 (50% fib).
USD/CAD: The Canadian dollar strengthened to a near three-month high against its U.S. counterpart on Monday as liquidity measures introduced by the Federal Reserve during the coronavirus crisis weighed on the greenback. Global stocks rallied on Monday, bolstered by hopes of economic recovery. Canada runs a current account deficit and is a major producer of commodities, including oil, so the loonie tends to benefit from rising risk appetite. The Canadian dollar was trading 1.5% higher at 1.3571 to the U.S. dollar, or 73.69 U.S. cents. The currency touched its strongest intraday level since March 9 at 1.3558.Immediate resistance can be seen at 1.3604 (23.6% fib), an upside break can trigger rise towards 1.3671 (5 DMA).On the downside, immediate support is seen at 1.3500 (Psychological level), a break below could take the pair towards 1.3457 (200 DMA).
USD/JPY: The dollar edged higher against the Japanese yen on Monday as safe-haven yen inched lower as signs that Europe’s economic downturn has bottomed boosted risk appetite, despite worries over violent protests in the United States and unease over Washington’s standoff with Beijing. President Donald Trump left a trade deal with China intact Friday despite moving to end Washington’s special treatment for Hong Kong in retaliation for Beijing seeking to impose new security legislation on the city. Strong resistance can be seen at 107.90 (38.2% fib), an upside break can trigger rise towards 108.30 (Higher BB).On the downside, immediate support is seen at 107.25 (21 DMA), a break below could take the pair towards 106.91 (61.8% fib).
European shares rose on Monday on hopes of a post-coronavirus global recovery, with investors relieved that the U.S. response to China’s national security law in Hong Kong was not as bad as feared.
The UK's benchmark FTSE 100 closed up by 1.48 percent, Germany's Dax ended down by 1.65 percent, and France’s CAC finished the up by 1.43 percent.
Wall Street’s major indexes rose on Monday as investors chose to look past violent protests across the country over racial inequality and focused more on economic data that bolstered views of a quick post-pandemic recovery.
Dow Jones closed up by 0.36 percent, S&P 500 ended up 0.38 percent, Nasdaq finished the day up by 0.66 percent.
Investors pushed longer-dated U.S. Treasury yields higher on Monday as they tried to forecast how the government would finance massive efforts to stimulate the economy.
The benchmark 10-year yield was up 2.8 basis points at 0.6721% in afternoon trading.
Gold prices rose on Monday supported by increasing friction between Washington and Beijing and protests in the United States over racism.
Spot gold climbed 0.8% to $1,740.62 per ounce by 12:07 p.m. EDT (1607 GMT). Prices earlier rose 1% to hit an over one-week high of $1,744.19.U.S. gold futures was up 0.1% to $1,753.40.
Oil futures steadied on Monday as rising U.S.-China tensions weighed on sentiment, but prices drew support from reports that OPEC and Russia were close to a deal extending output cuts.
Brent futures rose 48 cents, or 1.3%, to settle at $38.32 a barrel. U.S. crude fell 5 cents, or 0.1%, to settle at $35.44 a barrel.