America’s Roundup: Dollar struggles as rising oil prices lift commodity currencies, Wall Street jumps, Gold eases off highs, Oil jumps to two-month high on easing lockdowns, positive vaccine results-May 19th 2020
Europe Roundup: Euro takes a breather after four-day rising streak, European shares dips, Gold drops 1%,Oil at highest since March on lower U.S. inventories, recovering demand-May 21st 2020
America’s Roundup: Dollar weak as euro rises on Franco-German proposal for recovery fund ,Wall Street dips, Gold edges higher ,Oil dips as U.S. Senate grills Fed chair, Treasury secretary –May 20th,2020
Asia Roundup: Aussie eases on worsening U.S.-China tensions, dollar rallies against yen as risk sentiment slightly improves on potential Japanese stimulus, Asian shares consolidate - Monday, May 25th, 2020
Europe Roundup: Euro steady as doubts over EU recovery fund arise,European shares gains,Gold gains, Oil prices steady,awaiting confirmation of surprise U.S. inventory build-May 28th,2020
America’s Roundup: Dollar dented as risk appetite ramps up, Wall Street gains, Gold eases, Oil prices rise as faith in supply cuts grows-May 27th,2020
Americas’ Roundup: Dollar trades in narrow range as four-day euro rally fizzles, Wall Street ends lower, Brent at highest since March on U.S. stock draw, recovering demand-May 22nd 2020
Asia Roundup: Euro rallies on Franco-German proposal for recovery fund, Asian shares consolidate as vaccine hopes ease, investors eye FOMC minutes - Wednesday, May 20th, 2020
America’s Roundup: Dollar notches small weekly gain after weak U.S. data, Wall Street gains, Gold hits 7-year high, Oil prices jump as demand shows signs of picking up-May 16th,2020
America’s Roundup: Dollar weakens as euro climbs on EU common fund proposal, Wall Street climbs, Gold firms, Oil rise on recovery hopes-May 21st 2020
Asia Roundup: Aussie eases as Beijing readies new security law, dollar plunges against yen on rising U.S.-China tension, Asian shares slump - Friday, May 22nd, 2020
Asia Roundup: Aussie eases on Hong Kong unrest, dollar rallies against yen amid hopes of economic recovery, investors eye ECB Lagarde’s speech - Wednesday, May 27th, 2020
Europe Roundup: Euro advances towards two-week high against dollar, European shares inch lower, Gold rises, Oil up on lower U.S. stocks, firmer demand-May 20th,2020
Asia Roundup: Dollar slumps as markets await Trump's Hong Kong response, euro at 2-month peak ahead of EZ prelim CPI, Asian shares plunge - Friday, May 29th, 2020
America’s Roundup: Dollar dips as improved risk appetite, EU recovery fund hopes boost euro, Wall Street ends down, Gold gains, Oil rises as higher U.S. refinery rates offsets surprise crude build-May 29th,2020
Europe Roundup: Euro buoyed as investor sentiment improves, European shares gain,Gold eases, Oil prices climb as faith in supply cuts grows-May 26th,2020
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.