America’s Roundup: Dollar holds gains as uncertainty weighs on market sentiment, Wall Street ends down, Gold jumps 1%, Oil rises 2% as OPEC complies with production cuts-October 15th,2020
Europe Roundup: Sterling bounces on hope of further Brexit talks, European shares dip, Gold gains, Oil prices ease as coronavirus spike stokes demand concerns-October 14th,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
Europe Roundup: Sterling holds above $1.30 ahead of new lockdown measures ,European shares gains ,Gold slips from three-week high, Oil prices fall as supply concerns ease-October 12th,2020
Europe Roundup: Euro rises on softer dollar, U.S. stimulus hopes, European stocks rise, Gold rises,Oil prices head for 10% weekly jump on North America, Norway outages-October 9th,2020
Europe Roundup: Sterling edges lower as Brexit negotiations continue, European shares dips,Gold steadies, Oil rebounds as strong China trade data offsets supply concerns-October 13th,2020
Europe Roundup: Euro dips on fading U.S. stimulus hopes, virus concerns, Europe shares tumbles 2%, Gold falls, Oil slips as new lockdown measures threaten demand recovery-October 15th,2020
America’s Roundup: Dollar holds gains on safety bid as uncertainty grows on several fronts, Wall Street closes lower, Gold steady, Oil rises nearly 2% as robust China trade data offsets returning supply-October 14th,2020
Asia Roundup: Kiwi steadies on mixed economic data, dollar halts 2-day losing streak against yen as investors eye U.S. stimulus, Asian shares plunge - Tuesday, October 13th, 2020
Asia Roundup: Aussie at 1-week low on downbeat jobs data and dovish RBA, dollar steadies as stimulus hopes ebb, Asian shares slump - Thursday, October 15th, 2020
America’s Roundup: Dollar drifts downward as investors cling to stimulus hopes,Wall Street gains,Gold slips, Oil prices fall 3% as U.S., Libyan, Norwegian supplies resume-October 13th,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: Euro gains as risk mood sours,European stocks flat , Gold gains, Oil prices fall on U.S. stimulus impasse, rising U.S. crude stockpiles-October 7th,2020
Europe Roundup: Sterling edges up as Brexit mood brightens ,European shares gains, Gold firms ,Oil rises above $42 on supply losses, U.S. stimulus hopes-October 8th,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 steady as markets wait on stimulus news, Wall Street hits one-month high, Gold firms, Oil jumps on supply losses, possible OPEC output reversal-October 9th,2020
Asia Roundup: Antipodeans at multi-week lows on additional monetary easing expectations, dollar rallies amid coronavirus concerns, Asian shares plunge amid fading global recovery hopes - Thursday, September 24th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rallied to a 2-month peak as rising coronavirus infections in Europe and Britain undermined investor optimism about vaccine progress. Moreover, signs of economic slowdown in Europe and the United States renewed concern about a second wave of coronavirus infections, while the Federal Reserve’s warned that the U.S. economy needs more fiscal stimulus. The greenback against a basket of currencies traded 0.1 percent up at 94.43, having touched a high of 94.49 earlier, its highest since July 24.
EUR/USD: The euro declined, hovering towards a near 2-month low recorded in the prior session, as data showed business activity in the Europe slowed in September as fresh restrictions to control a resurgence in coronavirus infections slammed the services industry into reverse. The European currency traded 0.05 percent down at 1.1653, having touched a low of 1.1651 on Wednesday, its lowest since July 27. Investors’ attention will remain on a series of data from the Eurozone economies and German IFO survey, ahead of the U.S. unemployment benefit claims, new home sales, Fed Chair Powell's testimony and Treasury Sec Mnuchin's speech. Immediate resistance is located at 1.1695, a break above targets 1.1725. On the downside, support is seen at 1.1626, a break below could drag it below 1.1595.
USD/JPY: The dollar surged, extending gains for the fourth straight session, as investors await U.S. weekly jobless claims data, due later in the day, which is expected to show claims declined slightly but remained at high levels. Data released yesterday showed U.S. business activity slowed in September and several Fed policymakers warned that further government aid is needed to bolster the economy. The major was trading 0.1 percent up at 105.44, having hit a high of 105.49 on Wednesday, its highest since September 15. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims, new home sales, Fed Chair Powell's testimony and Treasury Sec Mnuchin's speech. Immediate resistance is located at 105.65, a break above targets 105.97. On the downside, support is seen at 104.98, a break below could take it near at 104.75.
GBP/USD: Sterling slumped to its lowest level in more than two months, after Prime Minister Boris Johnson ordered restaurants and bars to close early and told British people to work from home where possible, in new measures which he said could last for six months. The major traded 0.1 percent down at 1.2705, having hit a low of 1.2675 on Wednesday, it’s lowest since July 23. Investors’ attention will remain on the geopolitical developments, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2777, a break above could take it near 1.2815. On the downside, support is seen at 1.2661, a break below targets 1.2644. Against the euro, the pound was trading 0.1 percent down at 91.73 pence, having hit a low of 92.20 on Tuesday, it’s lowest since September 15.
AUD/USD: The Australian dollar plunged to a 2-month low, as investors continued to digest yesterday's unexpectedly downbeat retail sales data. Australian retail sales declined -4.2 percent in August, with the state of Vitoria recording it’s the biggest decline in sales owing to renewed lockdown restrictions and a second wave of coronavirus in the state. Moreover, expectations for additional monetary easing by the RBA further dented the bid tone around the major. The Aussie trades 0.5 percent down at 0.7037, having hit a low of 0.7034 earlier, it’s lowest since July 21. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.7106 (23.6% retracement of 0.7345 and 0.7034), a break above could take it near 0.7152 (38.2% retracement). On the downside, support is seen at 0.7011, a break below targets 0.6984.
NZD/USD: The New Zealand dollar tumbled to a 1-month low, after the Reserve Bank of New Zealand in its policy statement noted that it is prepared to lower the policy rate to provide additional stimulus if required. On Wednesday, the RBNZ left its policy rate unchanged at 0.25 percent and kept its quantitative easing program steady at NZD100 billion, as expected. The Kiwi traded 0.3 percent lower at 0.6527, having touched a low of 0.6525 earlier, its lowest level since August 25. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6573, a break above could take it near 0.6590. On the downside, support is seen at 0.6509, a break below could drag it below 0.6488.
Asian shares plunged following a slump on Wall Street overnight, as a series of warnings from U.S. Federal Reserve officials underscored investor worries over the resilience of the economic recovery.
MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 1.35 percent.
Tokyo's Nikkei eased 1.1 percent to 23,080.42 points, Australia's S&P/ASX 200 index declined 0.8 percent to 5,879.00 points. South Korea's KOSPI tumbled 2.5 percent to 2,274.46 points.
Shanghai composite index fell 1.7 percent to 3,225.52 points, while CSI 300 index traded 1.8 percent up at 4,568.42 points.
Hong Kong’s Hang Seng traded 1.9 percent lower at 23,296.17 points. Taiwan shares shed 2.5 percent to 12,264.38 points.
Crude oil prices declined, extending losses for the fifth straight session, on concerns the economic recovery in the United States is slowing as the coronavirus outbreak lingers. International benchmark Brent crude was trading 0.4 percent down at $41.29 per barrel by 0450 GMT, having hit a high of $43.77 on Friday, its highest since September 4. U.S. West Texas Intermediate was trading 0.7 percent lower at $39.33 a barrel, after rising as high as $41.46 on Friday, its highest since September 4.
Gold prices plunged to its lowest level in more than two months, weighed down by a robust dollar, as U.S. Federal Reserve officials tried to convince investors they will keep monetary policy easy for years to allow unemployment to fall. Spot gold was trading 0.5 percent down at $1,854.81 per ounce by 0454 GMT, having hit a low of $1854.77 earlier, its lowest since July 22. U.S. gold futures were down 0.3 percent to $1,863.60.
The U.S. Treasury yields eased, with the benchmark 10-year note yield trading at 0.674 percent.