Asia Roundup: Kiwi plunges as RBNZ slashes rates, dollar slumps against yen as Fed cuts rates to near zero, Asian shares tumble - Monday, March 16th, 2020
Asia Roundup: Aussie at 1-week peak on more stimulus hopes, greenback rebounds from recent lows as panic selling eases, Asian shares surge - Friday, March 27th, 2020
Asia Roundup: Antipodeans rally, greenback eases as Fed launches limitless quantitative easing, Asian shares rebound - Tuesday, March 24th, 2020
Asia Roundup: Aussie retreats from near 18-year lows, euro gains on ECB asset purchase program, investors eye SNB policy meeting outcome - Thursday, March 19th, 2020
Europe Roundup: Euro declines as virus fears outweigh stimulus hopes,Gold falls 1%,U.S. crude prices fall to 17-year low as coronavirus spreads-March 18th,2020
America’s Roundup: Dollar stands tall as coronavirus fears fuel rush for funding, Wall Street ,dips, Gold slides nearly 3%,U.S. oil plunges to 18-year low as lockdowns trigger market meltdown-March 19th,2020
America’s Roundup: Dollar dips after another surprise Fed rate cut, Wall Street sinks, Gold dives, Oil slumps-March 17th,2020
America’s Roundup: Dollar edges higher as investors wait on fiscal stimulus,Wall Street surges, Gold gains, Oil little changed as falling demand offsets hopes of U.S. aid package-March 25th,2020
Asia Roundup: Aussie retreats from 1-week peak, dollar declines against yen as investors scurried for liquid cash, Asian shares volatile - Thursday, March 26th, 2020
Market Roundup: Dollar slips on $2 trillion U.S. plan,Wall Street gains,Gold dips, Oil prices slip as fuel demand sinks in most recent week-March 26th,2020
Europe Roundup: Euro jumps on dollar weakness, European shares turns choppy, Gold falls, Oil prices fall as demand woes eclipse U.S. stimulus-March 25th,2020
Europe Roundup: Sterling falls to lowest since early September against dollar, European shares rises, Gold dips 3%,Oil near $30 as recession fears, pump war weigh-March 17th,2020
America’s Roundup: Dollar gains as Fed moves to bolster tight credit markets ,Wall Street bounces, Gold rebounds, Oil dips as demand weakens due to coronavirus -March 18th,2020
America’s Roundup: Dollar index on track for biggest weekly fall in decade, Wall Street tumbles, Gold eases, Oil plunges more than 5% despite stimulus efforts-March 28th,2020
America’s Roundup: Dollar surges to highest since January 2017, Wall Street ends higher, Gold drops, U.S. oil reverses losses, posts largest one-day gain on record-March 20th,2020
America’s Roundup: Dollar retains advantage amid coronavirus crisis, Wall Street slides, Gold surges 2%, Oil edges higher, U.S. gasoline slumps over 30% on sinking demand-March 24th,2020
Asia Roundup: Antipodeans await coronavirus clarity, euro consolidates near 3-year low on growth concerns, Asian shares nudge higher - Monday, February 17th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index stood near a 4 1/2-month high hit in the previous session after the U.S. Federal Reserve had flagged concerns regarding the potential impact of the epidemic on the U.S. economy. The greenback against a basket of currencies traded flat at 99.14, having touched a high of 99.17 on Friday, its highest since Oct. 8.
EUR/USD: The euro held near 3-year low as concerns mounted about weakening economic growth in Europe amid a new threat to the global economy from a fast-spreading coronavirus in China. Data released on Friday showed the German economy stagnated in the fourth quarter due to weaker private consumption and state spending, renewing fears of a recession. The European currency traded 0.1 percent up at 1.0839, having touched a low of 1.0827 on Friday, its lowest since May 2017. Investors’ attention will remain on EZ construction output, as U.S. markets remain shut on account of President's Day. Immediate resistance is located at 1.0873 (5-DMA), a break above targets 1.0924. On the downside, support is seen at 1.0819, a break below could drag it below 1.0803.
USD/JPY: The dollar nudged higher as investors expect growth in the United States to remain strong, although data published on Friday provided a mixed picture. U.S. core retail sales was flat in January, while industrial production shrank more than expected by 0.3 percent. The Japanese yen is likely to remain on the downside as data showed Japan's economy shrank at the fastest pace in the December quarter since the second quarter of 2014. The major was trading 0.05 percent up at 109.84, having hit a high of 110.13 on Wednesday, its highest since Jan. 21. Investors’ will continue to track the broad-based market sentiment, as U.S. markets remain closed for a public holiday. Immediate resistance is located at 110.02, a break above targets 110.17. On the downside, support is seen at 109.52 (21-DMA), a break below could take it near at 109.30.
GBP/USD: Sterling steadied near a 2-week peak hit last week amid expectations that the new British finance minister would unveil a more expansionary budget next month. The major traded flat at 1.3043, having hit a high of 1.3069 on Thursday, it’s highest since Feb. 3. Investors’ attention will remain on the trade negotiations, amid lack of U.S. fundamental drivers. Immediate resistance is located at 1.3070, a break above could take it near 1.3105. On the downside, support is seen at 1.3001, a break below targets 1.297. (10-DMA). Against the euro, the pound was trading 0.1 percent down at 83.09 pence, having hit a high of 82.95 on Thursday, it’s highest since Dec.13.
AUD/USD: The Australian dollar rose, halting a 2-day losing streak, supported by expectations of stimulus from Beijing. Investors continue to assess the latest reading on coronavirus cases in China’s Hubei Province, the epicenter of the outbreak. The Aussie trades 0.3 percent up at 0.6729, having hit a high of 0.6750 last week, it’s highest since Feb. 6. Immediate support is seen at 0.6700, a break below targets 0.6682. On the upside, resistance is located at 0.6750, a break above could take it near 0.6774.
NZD/USD: The New Zealand dollar consolidated within narrow ranges as investors awaited some clarity on whether the coronavirus was being contained or not, while Reserve Bank of New Zealand's switch to a neutral stance offered some support. The Kiwi trades flat at 0.6431, having touched a low of 0.6378 on Tuesday, its lowest level since November 15. Immediate resistance is located at 0.6484, a break above could take it near 0.6503. On the downside, support is seen at 0.6397, a break below could drag it below 0.6368.
Asian shares nudged up as Chinese efforts to cushion the blow from a coronavirus outbreak supported investor sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan edged higher.
Tokyo's Nikkei declined 0.7 percent to 23,523.24 points, Australia's S&P/ASX 200 index eased 0.1 percent to 7,125.10 points and South Korea's KOSPI fell 0.1 percent to 2,242.17 points.
Shanghai composite index rose 2.2 percent to 2,980.76 points, while CSI 300 index traded 2.2 percent up at 4,073.52 points.
Hong Kong’s Hang Seng traded 0.6 percent higher at 27,976.17 points. Taiwan shares shed 0.4 percent to 11,763.51 points
Crude oil prices edged lower from 2-week peak as investors brace for economic data in Asia due this week that should give a reading on how China’s coronavirus epidemic has affected oil demand. International benchmark Brent crude was trading 0.3 percent lower at $57.17 per barrel by 0523 GMT, having hit a high of $57.52 on Friday, its highest since Jan. 31. U.S. West Texas Intermediate was trading 0.13 percent down at $52.04 a barrel, after rising as high as $52.25 earlier, its highest since Jan 31.
Gold prices eased from 2-week highs scaled in the previous session on uncertainty over the impact of the coronavirus outbreak on the global economy. Spot gold was trading 0.05 percent at $1,583.23 per ounce by 0540 GMT, having touched a high of $1585.08 on Friday, its highest since Feb. 3. U.S. gold futures eased by 0.1 percent to $1,585.40.
The Australian bonds edged tad higher during morning hours of the first trading day of the week ahead of the Reserve Bank of Australia’s (RBA) February monetary policy meeting minutes, scheduled to be released on February 18 by 00:30GMT and the country’s labour market report for the month of January, due on February 20. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slipped nearly 1/2 basis point to 1.069 percent, the yield on the long-term 30-year bond also fell 1 basis point to 1.672 percent and the yield on short-term 2-year remained nearly flat at 0.762 percent.