America’s Roundup: Dollar climbs as U.S.-China tensions lift greenback, Wall Street ends mixed, Gold firms, Oil drops 4% on China-U.S. tensions, energy demand doubts-May 23rd 2020
Asia Roundup: Aussie rallies following RBA minutes, dollar gains against yen on vaccine hopes, Asian shares surge - Tuesday, May 19th, 2020
Asia Roundup: Dollar rallies against yen on easing of coronavirus lockdowns, Asian shares rally, investors eye U.S. consumer confidence data - Tuesday, May 26th, 2020
Asia Roundup: Aussie hits 1-week trough as jobs plunge, greenback rallies as Powell shuns negative rates, Asian shares slump - Thursday, May 14th, 2020
Europe Roundup: Sterling edges lower as Britain maintains fierce stance on Brexit, European stocks gain, Gold hits 3-week peak, Oil hits one-month high as signs of demand emerge amid coronavirus crisis-May 15th,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
Europe Roundup: Sterling stuck near 8-week lows on talk of negative rates, Brexit, European shares gain, Gold jumps by 1%,Oil rises as lockdowns ease-May 18th,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
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 climbs to 3-week peak, Wall Street drops, Gold jumps to 3-week high, Oil prices rise on dip in U.S. crude stockpiles and IEA data-May 15th,2020
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 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: Aussie set for first weekly loss in six weeks, greenback gains on stimulus optimism, Asian shares subdued - Friday, May 15th, 2020
Asia Roundup: Dollar steadies as Hong Kong tensions weigh, euro rallies on massive EU stimulus plan, Asian shares trim gains - Thursday, May 28th, 2020
Asia Roundup: Antipodeans at multi-week peak, dollar rallies against yen as U.S. confirms trade talks with China, Asian shares surge - Thursday, September 5th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rebounded from a 1-week low after China’s commerce ministry stated that the talks would be held and both sides agreed that they should work together and take practical actions to create good conditions for consultations. The greenback against a basket of currencies traded 0.1 percent up at 98.51, having touched a low of 98.38 earlier, its lowest since August 29.
EUR/USD: The euro declined, weighed down by expectations for an interest rate cut, the relaunch of asset purchases and other European Central Bank measures to stimulate the economy. The European currency traded 0.1 percent down at 1.1028, having touched a low of 1.0925 on Tuesday, its lowest since May 2017. Investors’ attention will remain on ECB De Guindos' speech, ahead of the U.S. ADP employment change, unemployment benefit claims, factory orders and service PMI from both Markit and ISM. Immediate resistance is located at 1.1044 (50% retracement of 1.1163 and 1.0925), a break above targets 1.1072 (61.8% retracement). On the downside, support is seen at 1.1003 (5-DMA), a break below could drag it below 1.0963 (August 30 High).
USD/JPY: The dollar surged to a 3-week peak after China’s Commerce Ministry stated that its trade team will hold talks with U.S. counterparts in mid-September in preparation for high-level negotiations in early October. The major was trading 0.2 percent up at 106.55, having hit a high of 106.75 earlier, its highest since August 15. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. ADP employment change, unemployment benefit claims, factory orders and service PMI from both Markit and ISM. Immediate resistance is located at 106.97 (August 13 High), a break above targets 107.56 (August 2 High). On the downside, support is seen at 105.73 (September 3 Low), a break below could take it lower at 105.26 (August 9 Low).
GBP/USD: Sterling eased after rising by more than 1-percent in the previous session on news that the lower house of the British parliament voted to prevent Prime Minister Boris Johnson taking Britain out of the European Union without a deal. The major traded 0.2 percent down at 1.2234, having hit a high of 1.2259 earlier, it’s highest since August 28. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2293 (August 23 High), a break above could take it near 1.2345. On the downside, support is seen at 1.2197 (10-DMA), a break below targets 1.2139 (August 30 Low). Against the euro, the pound was trading 0.1 percent down at 90.11 pence, having hit a high of 89.98 on Wednesday, it’s highest since July 29.
AUD/USD: The Australian dollar rallied to an over 1-month peak after China and the United States agreed to hold talks to end their protracted trade dispute, giving hope that a dispute that has roiled global economies will be resolved. The Aussie trades 0.2 percent up at 0.6811, having hit a high of 0.6825 earlier, it’s highest since August 1. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6762 (21-DMA), a break below targets 0.6717 (August 29 Low). On the upside, resistance is located at 0.6867 (August 1 High), a break above could take it near 0.6899 (July 31 High).
NZD/USD: The New Zealand dollar surged to a 1-week high after U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He and agreed to hold ministerial-level trade talks in Washington in the coming weeks. The Kiwi trades flat at 0.6367, having touched a high of 0.6378 earlier, its highest level since August 27. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6394 (21-DMA), a break above could take it near 0.6429 (August 20 High). On the downside, support is seen at 0.6324 (5-DMA), a break below could drag it below 0.6269 (September 3 Low).
Asian shares surged after China said it will hold trade talks with the United States in early October, raising hopes they can de-escalate their trade war.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8 percent.
Tokyo's Nikkei rallied 2.1 percent to 21,085.94 points, Australia's S&P/ASX 200 index gained 0.9 percent to 6,613.20 points and South Korea's KOSPI surged 0.8 percent to 2,005.30 points.
Shanghai composite index rose 1.1 percent to 2,988.99 points, while CSI 300 index traded 1.1 percent up at 3,928.93 points.
Hong Kong’s Hang Seng traded 0.6 percent lower at 26,369.05 points. Taiwan shares added 0.9 percent to 10,756.93 points.
Crude oil prices surged, extending previous session's rebound after the U.S. confirmed that talks with China to reach a trade agreement would be held in the coming weeks. International benchmark Brent crude was trading 0.5 percent higher at $60.77 per barrel by 0533 GMT, having hit a high of $61.14 earlier, its highest since August 29. U.S. West Texas Intermediate was trading 0.5 percent up at $54.24 a barrel, after rising as high as $56.62 earlier, its highest since August 30.
Gold prices declined as risk-on sentiment improved after China and the United States agreed to hold talks to end their protracted trade dispute. Spot gold declined 0.4 percent to $1,545.65 per ounce by 0551 GMT, having touched a high of $1,556.88 on Wednesday, its highest since April 2013. U.S. gold futures dropped 0.4 percent to $1,554.00 per ounce.
The yield on Japan’s benchmark 10-year note, which moves inversely to its price, fell to at -0.265 percent down from August high of -0.130 percent, the yield on the long-term 30-year bond hovered at 0.140 percent while the yield on short-term 2-year traded at -0.287 percent.
The Australian government bonds slumped as a mild easing in geopolitical tensions improved risk appetite, pushing the benchmark 10-year yield to a month high. However, the country’s underlying momentum in the economy remains weak, which would further drag down the bond yields. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, edged 4-1/2 basis points higher to 0.969 percent, the yield on the long-term 30-year bond also rose 4 basis points to 1.563 percent while the yield on short-term 2-year climbed 3-1/2 basis points to 0.805 percent.