Europe Roundup: Euro recovers on virus slowdown hopes, European shares jump, Gold rises more than 1%, Oil falls after Saudi Arabia, Russia delay meeting-April 6th,2020
Europe Roundup: Euro dips against dollar as surging COVID-19 spells disaster for global growth, European shares falls, Gold eases, Oil prices rise, but doubts remain on Russia-Saudi deal-April 3rd 2020
Europe Roundup: Euro gains as ECB removes barriers in crisis fighting purchases, European stocks drop, Gold dips, Oil falls as sinking demand outweighs stimulus hopes-March 26th,2020
Asia Roundup: Aussie eases despite better-than-expected retail sales, greenback near 1-week peak as U.S. non-farm payrolls loom, Asian shares steady - Friday, April 3rd, 2020
America’s Roundup: Dollar gains for second day, shrugs off record U.S. jobless claims, Wall Street rallies, Gold gains, Oil soars after Trump says Saudis and Russians to cut output-April 3rd ,2020
Asia Roundup: Aussie hits 2-week peak as Chinese manufacturing activity expands, gold eases as dollar strengthens, shares surge, investors eye EZ prelim CPI - Tuesday, March 31st, 2020
Asia Roundup: Aussie eases despite PBoC interest rate cut, greenback rebounds across board as U.S. House passes $2.2 trillion bill, Asia shares plunge - Monday, March 30th, 2020
America’s Roundup: Dollar gains as investors seek shelter amid pandemic crisis, Wall Street gains, Gold rises, Brent hits 18-year low, U.S. crude dips below $20/bbl-March 31st,2020
Asia Roundup: Aussie steadies as investors expect RBA to hold rates, greenback holds firm on Fed comments, Asian shares nudge higher - Monday, April 6th, 2020
Europe Roundup: Sterling gains as traders shun safe-haven dollar, European shares dip, Gold slips, Oil falls as demands fears outweigh stimulus efforts-March 27th,2020
America’s Roundup: Dollar drops as U.S. jobless claims surge, Wall Street rallies for third day, Gold edges higher, Oil prices sink as crippled demand outweighs stimulus hopes-March 27th,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
Asia Roundup: Aussie declines after S&P cuts Australian credit outlook, greenback steadies as investors await Fed minutes, Asian shares plunge as virus worries return - Wednesday, April 8th, 2020
Europe Roundup: Euro dips as investors scramble for greenback, European shares gain, Gold gains, Oil jumps as Trump talks up truce hopes for Saudi-Russia price war-April 2nd 2020
Europe Roundup: Euro dips against dollar as coronavirus fears intensify, European shares retreat, Gold steady, Oil plunges to 2002 lows-March 30th,2020
Europe Roundup: Euro dips against dollar as German manufacturing output sinks in March , European stocks slide, Gold surges ,Oil market slammed again by supply glut and weak demand-April 1st 2020
Asia Roundup: Antipodeans ease amid virus scare, euro near 3-year lows on weak growth outlook, investors eye EZ prelim GDP figures - Friday, February 14th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index held firm near a 4-month peak as investors awaited U.S. retail sales and consumer confidence numbers due later on the day. The greenback against a basket of currencies traded flat at 99.10, having touched a high of 99.16 earlier, its highest since Oct. 7.
EUR/USD: The euro tumbled to a fresh near 3-year low as investors grew more pessimistic about the outlook in the eurozone before the release of gross domestic product data later in the day. The European currency traded 0.05 percent down at 1.0835, having touched a low of 1.0827 earlier, its lowest since May 2017. Investors’ attention will remain on a series of data from the Eurozone economies, EZ prelim gross domestic data. ahead of the U.S. import and export index, retail sales, industrial production, capacity utilization and flash Michigan consumer sentiment index. Immediate resistance is located at 1.0896 (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 slumped, extending previous session losses as renewed worries about the coronavirus outbreak supported the demand for safe-haven currencies. Officials in Hubei stunned financial markets on Thursday by announcing a sharp increase in new infections and deaths from the coronavirus. The major was trading 0.05 percent down at 109.76, having hit a high of 110.13 on Wednesday, its highest since Jan. 21. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. import and export index, retail sales, industrial production, capacity utilization and flash Michigan consumer sentiment index. Immediate resistance is located at 110.17, a break above targets 110.30. On the downside, support is seen at 109.54 (21-DMA), a break below could take it near at 109.35.
GBP/USD: Sterling surged, hovering towards a near 2-week peak hit in the previous session amid hopes that a British cabinet reshuffle will lead to more expansionary fiscal policy to support growth. The major traded 0.1 percent up at 1.3051, having hit a high of 1.3069 on Thursday, it’s highest since Feb. 3. Investors’ attention will remain on the trade negotiations, ahead of the 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 1.3042, a break below targets 1.2989. Against the euro, the pound was trading flat at 83.03 pence, having hit a high of 82.95 on Thursday, it’s highest since Dec.13.
AUD/USD: The Australian dollar consolidated within narrow ranges after a Reuters poll of economists stated that China’s economy will grow at its slowest rate since the financial crisis in the current quarter and the downturn will be short-lived if the outbreak is contained. The Aussie trades flat at 0.6721, having hit a low of 0.6662 last week, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6682, a break below targets 0.6635. On the upside, resistance is located at 0.6750, a break above could take it near 0.6774.
NZD/USD: The New Zealand dollar eased amid expectations that the virus could hurt the global economy as well as the monetary policy. The Kiwi trades 0.05 percent down at 0.6430, having touched a low of 0.6378 on Tuesday, its lowest level since November 15. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6484, a break above could take it near 0.6503. On the downside, support is seen at 0.6381, a break below could drag it below 0.6358.
Asian shares nudged up amid hopes governments will make provisions to soften the impact on their economies from the coronavirus epidemic.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent.
Tokyo's Nikkei declined 0.6 percent to 23,687.59 points, Australia's S&P/ASX 200 index rallied 0.4 percent to 7,130.20 points and South Korea's KOSPI surged 0.6 percent to 2,245.13 points.
Shanghai composite index rose 0.1 percent to 2,910.84 points, while CSI 300 index traded 0.5 percent up at 3,978.39 points.
Hong Kong’s Hang Seng traded 0.3 percent higher at 27,823.50 points. Taiwan shares added 0.2 percent to 11,815.70 points
Crude oil prices eased but were set for their first weekly gain in six weeks on the assumption major producers will implement deeper output cuts to offset slowing demand in China. International benchmark Brent crude was trading 0.2 percent lower at $56.34 per barrel by 0533 GMT, having hit a low of $53.09 on Monday, its lowest since Jan 2019. U.S. West Texas Intermediate was trading 0.1 percent down at $51.44 a barrel, after falling as low as $49.46 on Monday, its lowest since Feb. 4.
Gold prices declined from an over 1-week peak as risk sentiment improved on hopes of global measures to soften the impact of the coronavirus outbreak. Spot gold was trading 0.05 percent lower at $1,575.23 per ounce by 0541 GMT, having touched a high of $1578.38 on Thursday, its highest since Feb. 4. U.S. gold futures also slipped 0.1 percent to $1,577.80.
On Thursday, the two-year U.S. Treasury yield was down a basis point at 1.4317 percent in morning trading. The benchmark 10-year yield was down less than a basis point in morning trading at 1.619 percent.