Asia Roundup: Antipodeans off-highs on soft Chinese trade data, greenback rebounds on U.S.-China trade optimism, Asian shares surge - Monday, October 14th, 2019
Asia Roundup: Aussie gains on upbeat jobs data, greenback rebounds on U.S. Treasury Secretary Steven Mnuchin's comments, Asian shares surge - Thursday, October 17th, 2019
Asia Roundup: Yen eases as investors eye U.S.-China trade talks, greenback steadies on Fed Chair Powell's comments, Asian shares tumble - Wednesday, October 9th, 2019
Asia Roundup: Aussie gains on upbeat economic data, dollar at 1-week peak against yen on trade deal hopes, investors eye UK GDP figures - Thursday, October 10th, 2019
America's Roundup: Dollar range-bound as trade optimism fades,Wall Street gains, Gold slips 1%,Oil falls on weaker economic growth forecasts-October 16th,2019
America’s Roundup: Dollar weak as Brexit deal boosts euro, sterling, Wall Street dips, Gold dips, Oil falls as China economic concerns outweigh rising refinery runs-October 11th, 2019
Europe Roundup: Sterling at 3-month peak on Brexit deal hopes, dollar rallies against yen as investors eye U.S.-China trade talk outcome, European shares surge - Friday, October 11th, 2019
Europe Roundup: Sterling consolidates as no-deal Brexit concerns persist, euro eases as German industrial orders decline more than expected, investors eye Fed Chair Powell's speech - Monday, October 7th, 2019
Asia Roundup: Antipodeans rally on U.S.-China trade talks hopes, greenback at multi-week lows as soft CPI figures support Fed rate cut speculation, investors eye EBC Draghi’s speech - Friday, October 11th, 2019
Asia Roundup: Kiwi steadies as RBNZ rate cut concerns ease, yen rallies amid caution over U.S.-China trade talks, Asian shares surge - Monday, October 7th, 2019
Europe Roundup: Sterling at 1-week low amid prevailing no-deal Brexit fears, euro gains on better-than-expected German industrial data, European shares plunge - Tuesday, October 8th, 2019
America's Roundup: Dollar slips as U.S. jobs-inspired rally fizzles, Wall Street rise, Gold gains, Oil settles up-October 5th,2019
Europe Roundup: Sterling rallies as UK-EU agree on new Brexit deal, dollar rallies against yen amid developments on U.S.-China trade talks, European shares surge - Thursday, October 17th, 2019
Europe Roundup: Sterling rallies as EU Barnier's comments stoke Brexit deal hopes, euro plunges as German investor sentiment deteriorates, European shares surge - Tuesday, October 15th, 2019
America's Roundup: Dollar dips as U.S.-China trade negotiations begin, Wall Street gain,Gold slips, Oil prices rise as OPEC pledges decision on supply-October 11th,2019
Asia Roundup: Antipodeans surge on mixed Chinese economic data, greenback tumbles as weak U.S. retail sales support Fed rate cut expectations, Asian shares decline - Friday, October 18th, 2019
Asia Roundup: Antipodeans at 1-week peak on upbeat Chinese service data, greenback slumps as manufacturing activity contracts, Asian shares surge - Wednesday, September 4th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index eased, extending previous session losses after a private report that showed the U.S. manufacturing sector in August recorded its first monthly contraction since 2016, with new orders and hiring declining sharply as trade tensions weighed on business confidence, raising fears of a recession. The greenback against a basket of currencies traded 0.1 percent down at 98.89, having touched a high of 99.37 on Tuesday, its highest since May 2017.
EUR/USD: The euro consolidated near a 2-1/2 year low hit in the previous session, as investors priced in deeper negative interest rates for longer in the eurozone. The European Central Bank benchmark rate now stands at minus 0.40 percent and the ECB has all but promised a monetary policy stimulus package as economic growth falters. The European currency traded flat at 1.0976, having touched a low of 1.0925 on Tuesday, its lowest since May 2017. Investors’ attention will remain on a series of Markit service PMI's out of Eurozone economies, EZ retail sales and ECB Lane's speech, ahead of the U.S. trade balance and speeches by Fed officials. Immediate resistance is located at 1.1017 (38.2% retracement of 1.1163 and 1.0925), a break above targets 1.1044 (50% retracement). On the downside, support is seen at 1.0930, a break below could drag it below 1.0870.
USD/JPY: The dollar steadied after falling to a near 1-week low in the previous session on worries about U.S.-China trade tensions and a chaotic British exit from the European Union. The major was trading 0.2 percent up at 106.13, having hit a low of 104.44 last week, its lowest since November 2016. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. trade balance and speeches by Fed officials. Immediate resistance is located at 106.73 (August 23 High), a break above targets 107.09 (August 6 High). On the downside, support is seen at 105.65 (August 28 Low), a break below could take it lower at 105.26 (August 9 Low).
GBP/USD: Sterling rose, extending previous day's rebound in the wake of a parliamentary vote that opened the door for another Brexit delay. On Tuesday, the British pound retreated from multi-year lows after British lawmakers voted to take control of the parliamentary agenda and scheduled another vote today. The major traded 0.2 percent up at 1.2103, having hit a low of 1.1958 on Tuesday, it’s lowest since October 2016. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2134 (50% retracement of 1.2309 and 1.1958), a break above could take it near 1.2175 (61.8% retracement). On the downside, support is seen at 1.2014 (August 12 Low), a break below targets 1.1986 (Jan. 16 2017 Low). Against the euro, the pound was trading 0.2 percent up at 90.64 pence, having hit a low of 91.48 on Tuesday, it’s lowest since August 22.
AUD/USD: The Australian dollar rallied to 1-week peak, as the greenback declined after data showed U.S. manufacturing activity contracted for the first time in three years in August. Moreover, the major was also boosted by data that showed China’s services sector expanded at the fastest pace in three months in August. The Aussie trades 0.3 percent up at 0.6778, having hit a high of 0.6783 earlier, it’s highest since August 26. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6734 (5-DMA), a break below targets 0.6677 (August 7 Low). On the upside, resistance is located at 0.6799 (August 2 1 High), a break above could take it near 0.6822 (August 8 High).
NZD/USD: The New Zealand dollar steadied after rising to a 1-week peak earlier in the day on increased bets on a couple of Federal Reserve rate cuts before Christmas. The Kiwi trades flat at 0.6334, having touched a low of 0.6269 on Tuesday, its lowest level September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6351 (10-DMA), a break above could take it near 0.6402 (21-DMA). On the downside, support is seen at 0.6283 (August 30 Low), a break below could drag it below 0.6210.
Asian shares rallied after a report showed growth in the China's service sector accelerating despite broader economic headwinds.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent.
Tokyo's Nikkei rallied 0.1 percent to 20,649.14 points, Australia's S&P/ASX 200 index declined 0.3 percent to 6,553.00 points and South Korea's KOSPI surged 2.2 percent to 1,988.53 points.
Shanghai composite index rose 0.9 percent to 2,957.41 points, while CSI 300 index traded 0.8 percent up at 3,886.00 points.
Hong Kong’s Hang Seng traded 3.5 percent higher at 26,432.36 points. Taiwan shares added 0.9 percent to 10,657.31 points.
Crude oil prices recovered some ground after falling to their lowest level in close to a month in the previous session on concerns that a weakening global economy could depress demand. International benchmark Brent crude was trading 0.5 percent higher at $58.63 per barrel by 0450 GMT, having hit a low of $57.21 on Tuesday, its lowest since August 9. U.S. West Texas Intermediate was trading 0.5 percent up at $54.18 a barrel, after falling as low as $52.82 on Tuesday, its lowest since August 9.
Gold prices eased after rising to a near 1-week high earlier on the back of weak U.S. manufacturing data that heightened fears of an economic slowdown and soured risk sentiment. Spot gold was trading 0.3 percent down at $1,543.49 per ounce at 0547 GMT, having touched a high of $1,550.00 earlier, its highest since August 29. U.S. gold futures were steady at $1,555.6 an ounce.
The U.S. Treasury yields fell on Tuesday, with the benchmark 10-year yield hitting its lowest since July 2016.
TheJapanese government bond prices climbed, with the benchmark 10-year yield touching a level just shy of an all-time low hit in 2016. Prices of benchmark 10-year JGB futures rose as much as 0.16 point to 155.38, hitting a record high. The 10-year JGB yield fell half a basis point to minus 0.285 percent, hovering around a record low of minus 0.30 percent hit in 2016. The 20-year JGB yield stood flat at 0.035 percent, the 30-year yield was unchanged at 0.115 percent, while the 40-year yield dropped half a basis point to 0.125 percent.