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America’s Roundup: Dollar rises against yen as nervous investors seek safety, Wall street ends mixed ,Gold dips, Oil surges more than 13% on hopes of output deal-May 12th,2020

Market Roundup

• US April CB Employment Trends Index 43.43,  60.39 previous

 • US 6-Month Bill Auction 0.155%, 0.130% previous

•   US 3-Month Bill Auction0.125%, 0.110% previous

Looking Ahead - Economic Data (GMT)

• 23:50 Japan April Foreign Reserves (USD)  1,366.2B    

• 01:30 China April CPI (MoM)  -0.5%forecast, -1.2%previous 
   
• 01:30 China April CPI (YoY) 3.7% forecast, 4.3%  previous

• 01:30 China April PPI (YoY)  -2.6% forecast, -1.5%    previous  
 
• 01:30 Australia April  NAB Business Confidence  -66 previous

• 01:30 Australia April  NAB Business Survey   -21 previous

• 01:30 Australia Invest Housing Finance (MoM) -1.9% previous

• 01:30 Australia Home Loans (MoM) -2.0% previous

• 05:30 Japan March Coincident Indicator (MoM) -0.2% previous

• 05:30 Japan March Leading Index (MoM)  1.0% previous

• 05:30 Japan Leading Index 91.7 previous

Currencies summaries

EUR/USD: The euro dipped against dollar on Monday as demand for greenback increased after moves by the United States and other countries to re-open their economies raised hopes for a quicker global recovery from a deep recession triggered by the coronavirus health crisis. The euro was down 0.02 percent at $1.0809. Immediate resistance can be seen at 1.0829 (38.2% fib), an upside break can trigger rise towards 1.0860 (11 DMA).On the downside, immediate support is seen at 1.0800 (Psychological level), a break below could take the pair towards 1.0755 (23.6% fib).

GBP/USD: Sterling dipped against the dollar on Monday as rising U.S. Treasury yields put the U.S. currency in demand, with investors cautious about the easing of coronavirus lockdown measures in Britain.As several countries moved to reopen their economies with a gradual easing of lockdown measures, risk sentiment recovered in markets, giving stock markets a boost. The yield on the U.S. 10-year Treasury bond rose to 0.7036%. Immediate resistance can be seen at 1.2369 (5 DMA), an upside break can trigger rise towards 1.2425  (9 DMA).On the downside, immediate support is seen at 1.2278  (Daily low), a break below could take the pair towards 1.2251 (lower BB).

USD/CAD The Canadian dollar weakened against its U.S. counterpart on Monday as the potential for a second wave of coronavirus infections worried investors, with the loonie retreating from an earlier 11-day high. The Canadian dollar was trading 0.6% lower at 1.4008to the greenback, or 71.39 U.S. cents. The currency, which strengthened 1.1% last week, touched its strongest intraday level since April 30 at 1.3901. .Immediate resistance can be seen at 1.4014 (5 DMA), an upside break can trigger rise towards 1.4170 (Daily high).On the downside, immediate support is seen at 1.4000 (Psychological level), a break below could take the pair towards 1.3835 (21 DMA).

USD/JPY: The dollar strengthened against the Japanese yen on Monday as demand for riskier assets increased as more countries lifted lockdowns imposed on businesses to curb the spread of the novel coronavirus. Japan plans to end a state of emergency for areas where infections have stabilised, while France is set to cautiously emerge from one of Europe’s strictest lockdowns on Monday. Some countries, such as India, Spain, Italy and parts of the United States, began easing lockdowns last week. Strong resistance can be seen at 107.48 (30 DMA), an upside break can trigger rise towards 107.73 (55 DMA).On the downside, immediate support is seen at 107.13 (20 DMA), a break below could take the pair towards 106.66 (5DMA). 

Equities Recap

European stocks closed lower on Monday, with banks, miners and travel stocks bearing the brunt of investor worries of a second wave of coronavirus cases as many countries emerge from lockdowns.

UK's benchmark FTSE 100 closed up by 0.06 percent, Germany's Dax ended down  by 0.73 percent, France’s CAC finished the day down by1.31 percent.

The S&P 500 ticked higher on Monday as gains in healthcare and technology stocks countered losses in financials, while investors kept an eye on new coronavirus cases as several countries ease lockdowns.

Dow Jones closed down  by  0.45% percent, S&P 500 closed up by 0.01% percent, Nasdaq settled up by 0.78%  percent.

Treasuries Recap

Cautious traders kept U.S. Treasury yields little changed on Monday as they tried to gauge what further steps policymakers might take to blunt the economic impact of the deadly COVID-19 pandemic. 

 The benchmark 10-year yield was up less than a basis point in morning trading at 0.686%.

Commodities Recap

Gold prices retreated on Monday as the dollar benefited from safe-haven buying driven by fears over a second wave of coronavirus infections.

Spot gold was down 0.3% at $1,695.99 per ounce by 11:23 a.m EDT (1523 GMT). U.S. gold futures fell 0.9% to $1,697.80 per ounce.

Crude futures surged for a second day on Friday, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that a global deal to cut crude supply worldwide will emerge early next week.

U.S. West Texas Intermediate (WTI) crude   rose $3.02, or 11.93% to settle at $28.34 a barrel. The contract posted a 31.8% gain on the week, also its largest on record.
 

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