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
Asia Roundup: Aussie gains on better-than-expected CPI, dollar eases as U.S. elections uncertainty loom, Asian shares slump - Wednesday, October 28th, 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
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: Aussie rebounds as consumer confidence improves, greenback gains as U.S. stimulus remains elusive, investors eye ECB policy meet - Thursday, October 29th, 2020
Asia Roundup: Kiwi rallies on Ardern's historic re-election win, dollar gains against yen amid U.S. coronavirus relief deal hopes, Asian shares surge - Monday, October 19th, 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
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 ends losing week lower on election and COVID aid concerns, Wall Street subdued, Gold slips, Oil falls about 2% on Libyan output, COVID-19 demand concerns-October 24th,2020
America’s Roundup: Dollar struggles as U.S. election uncertainty offsets COVID-19 concerns, Wall Street ends mixed,Gold gains, Oil rises 2% on U.S. Gulf shutdowns, outlook weak-October 28th,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
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
Asia Roundup: Aussie gains on upbeat Chinese data, greenback eases as investors await U.S. election, Asian shares plunge - Tuesday, October 27th, 2020
America’s Roundup:Dollar falls for second day as U.S. political concerns grow, Wall Street gains, Gold firms, Oil inches up on U.S. stimulus hopes, rising virus cases keep prices in check-October 21st,2020
Europe Roundup: Sterling edges up ahead of UK decision on Brexit negotiations,European stocks gain,Gold edges up,Oil slides on COVID-19 resurgence-October 16th,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
America’s Roundup: Dollar up as Powell downplays chances of negative U.S. interest rates ,Wall Street falls, Gold gains, Oil slips more than 1% despite surprise U.S. crude stock drawdown-May 14th,2020
• Fed’s Powell calls for more fiscal spending
• US April PPI (YoY) -1.2%, -0.2% forecast, 0.7% previous
• US April PPI (MoM) -1.3%, -0.5% forecast, -0.2% previous
• US April Core PPI (MoM) -0.3%, 0.0% forecast, 0.2% previous
• US April Core PPI (YoY) 0.6%, 0.9% forecast, 1.4% previous
• UK NIESR GDP Estimate -11.8%, -4.8% previous
• US Crude Oil Inventories -0.745M, 4.147M forecast, 4.590M previous
• US Gasoline Inventories- 3.513M, -2.216M forecast, -3.158M previous
Looking Ahead Economic Data
• 22:45 New Zealand April FPI (MoM) 0.7% previous
• 22:45 New Zealand March Permanent/Long-Term Migration 8,250 previous
• 22:45 New Zealand March External Migration & Visitors -10.80% previous
•23:01 UK April RICS House Price Balance -38% forecast, 11% previous
• 23:50 Japan Foreign Investments in Japanese Stocks -393.7B previous
• 23:50 Japan Foreign Bonds Buying -149.2B previous
• 23:50 Japan April M3 Money Supply 1,843.9T previous
• 23:50 Japan M2 Money Stock (YoY) 3.3% previous
• 01:00 New Zealand Jan Budget Balance -5.154B previous
• 01:00 New Zealand Jan Net Debt Forecast 19.60% previous
• 01:00 New Zealand Jan Economic Forecast -0.943B previous
• 01:00 Australia MI Inflation Expectations 4.6% previous
• 01:30 Australia April Full Employment Change -0.4K previous
• 01:30 Australia April Participation Rate 65.2% forecast, 66.0% previous
• 01:30 Australia April Employment Change -575.0K forecast, 5.9K previous
• 01:30 Australia April Unemployment Rate 8.3% forecast, 5.2% previous
Looking Ahead - Events, Other Releases (GMT)
• 02:00 New Zealand Annual Budget Release
EUR/USD: The euro declined on Wednesday as dollar rose after Federal Reserve Chair Jerome Powell rejected the idea of using negative interest rates as a simulative tool, even as he sounded a gloomy note about economic growth. Powell said the Fed’s view on negative interest rates has not changed and it is not something policy makers are looking at. The U.S. Dollar Currency Index , which measures the greenback’s strength against six major currencies, was up 0.23% on the day at 100.26. The index fell as low as 99.57 earlier in the session. Immediate resistance can be seen at 1.0890 (50% fib), an upside break can trigger rise towards 1.0951 (61.8% fib).On the downside, immediate support is seen at 1.0783 (12th may low), a break below could take the pair towards 1.0752 (23.6% fib).
GBP/USD: Sterling declined on Wednesday as stronger U.S. dollar sent the British pound lower after Federal Reserve Chair Jerome Powell delivered remarks in which he said an “extended period” of weak growth may be in store for the United States. Powell said the central bank won’t implement negative interest rates, but warned that “it will take some time to get back to where we were,” pushing the safe-haven dollar higher. Immediate resistance can be seen at 1.2273 (23.6% fib), an upside break can trigger rise towards 1.2375 (9 DMA).On the downside, immediate support is seen at 1.2209 (Daily low), a break below could take the pair towards 1.2179 (lowered BB).
USD/CAD: The Canadian dollar declined against its U.S. counterpart on Wednesday as stronger dollar across the board and falling oil prices weighed on loonie. U.S. crude prices were down 0.4% at $25.67 a barrel. Potential OPEC+ plans to deepen supply cuts were tempered by demand concerns exacerbated by a possible second wave of coronavirus infections as countries ease lockdowns. At (20:55) GMT, the Canadian dollar was trading 0.18% lower at 1.4026 to the greenback. The currency touched its weakest intraday level since last Thursday at 1.4114 .Immediate resistance can be seen at 1.4117 (Daily high), an upside break can trigger rise towards 1.42569 (Higher BB).On the downside, immediate support is seen at 1.4047 (9 DMA), a break below could take the pair towards 1.3986 (55 DMA).
USD/JPY: The dollar edged lower against the Japanese yen on Wednesday as fears about a second wave of coronavirus infections and as warnings from Federal Reserve Chairman Jerome Powell that the U.S. faces a “significantly worse” recession weighed on investor sentiment and boosted safe haven yen. Powell’s comments come as parts of the global economy are starting to reopen following a deep freeze aimed at curbing the spread of the virus that has pushed unemployment rates to their highest since the Great Depression. Strong resistance can be seen at 107.44 (30 DMA), an upside break can trigger rise towards 108.33 (Higher BB).On the downside, immediate support is seen at 106.72 (9 DMA), a break below could take the pair towards 105.75 (Lower BB).
Travel stocks, automakers and banks led a slide in European shares on Wednesday as fears of a resurgence in coronavirus cases and a worrying outlook from the U.S. central bank chief dented hopes of a swift economic recovery.
UK's benchmark FTSE 100 closed down by 1.51 percent, Germany's Dax ended down by 2.56 percent, France’s CAC finished the day down by 2.85 percent.
U.S. stocks fell sharply for the second day on Wednesday after Federal Reserve Chairman Jerome Powell warned of an extended period of weak growth and stagnant incomes due to the coronavirus pandemic, dashing hopes of a quick economic recovery.
Dow Jones closed down by 2.17% percent, S&P 500 closed down by 1.75 % percent, Nasdaq settled down by 1.55% percent.
U.S. Treasury yields were steady on Wednesday after Federal Reserve Chair Jerome Powell gave a solemn assessment of the U.S. economy and renewed his scepticism of negative interest rates.
The benchmark 10-year yield was down 3.1 basis points in morning trading at 0.6606%.
Gold rose on Wednesday after U.S. Federal Reserve Chairman Jerome Powell pledged more stimulus measures if required to ease the economic blow from the coronavirus.
Spot gold was up 0.6% at $1,712.83 per ounce by 10:49 a.m. EDT (1449 GMT).
Prices rose as much as 0.9% but pared gains after Powell rejected the idea of using negative interest rates as a stimulative tool.U.S. gold futures rose 0.7% to $1,719.50 per ounce.
Oil prices fell more than 1% on Wednesday despite the first decline in U.S. crude inventories since January, as markets were affected by a solemn address from U.S. Federal Reserve chairman warning that economic recovery from the coronavirus pandemic would take many months.
Brent crude fell 46 cents a barrel, or 1.5% to $29.52 by 11:04 a.m. EDT (1504 GMT), after hitting a low of $28.92 a barrel earlier.West Texas Intermediate crude futures fell 35 cents, or 1.4%, to $25.44.