America’s Roundup: Dollar up as Powell downplays chances of negative U.S. interest rates ,Wall Street falls, Gold gains, Oil slips more than 1% despite surprise U.S. crude stock drawdown-May 14th,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
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
Asia Roundup: Aussie hits 1-week trough as jobs plunge, greenback rallies as Powell shuns negative rates, Asian shares slump - Thursday, May 14th, 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
Europe Roundup: Sterling tumbles on record-low retail data, trade tensions, European shares dip, Gold gains, Oil prices drop as China-U.S. tensions grow –May 22nd 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
Europe Roundup: Euro as German survey fuels optimism, European shares rise, Gold dips, Oil falls as U.S.-China tensions take toll-May 25th,2020
Asia Roundup: Aussie set for first weekly loss in six weeks, greenback gains on stimulus optimism, Asian shares subdued - Friday, May 15th, 2020
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: Yen rallies against dollar on second wave virus fears, Asian shares plunge - Tuesday, May 12th, 2020
Europe Roundup: Euro gains as dollar rally pauses, European shares edged higher, Gold gains, Oil prices up after Saudi pledge on cuts eases some glut fears-May 12th,2020
Asia Roundup: Aussie rallies following RBA minutes, dollar gains against yen on vaccine hopes, Asian shares surge - Tuesday, May 19th, 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 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
Asia Roundup: Antipodeans ease as China's slowdown deepens, dollar off highs against yen as Saudi facility attacks weaken risk sentiment, oil at 4-month peak - Monday, September 16th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index steadied after tumbling to a near 3-week low in the previous session as investors await the outcome of central bank meetings in the U.S. and Japan this week. The greenback against a basket of currencies traded 0.3 percent up at 98.19, having touched a low of 97.86 on Friday, its lowest since August 26.
EUR/USD: The euro consolidated within narrow ranges as stronger-than-expected Friday's U.S. economic data dented euro bull's sentiment. The European currency traded flat at 1.1069, having touched a high of 1.1109 in the previous session, its highest since August 27. Investors’ attention will remain on a series of data out from the Eurozone economies, ahead of the U.S. NY empire state manufacturing index. Immediate resistance is located at 1.1098 (August 28 High), a break above targets 1.1153 (August 23 High). On the downside, support is seen at 1.1047 (5-DMA), a break below could drag it below 1.0963 (August 30 High).
USD/JPY: The dollar plunged to a near 1-week low, as risk sentiment weakened following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions. The major was trading 0.2 percent down at 107.86, having hit a low of 107.44 earlier, its lowest since September 10. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. NY empire state manufacturing index. Immediate resistance is located at 108.37 (July 16 High), a break above targets 108.75 (July 25 High). On the downside, support is seen at 107.10 (10-DMA), a break below could take it lower at 106.63 (21-DMA).
GBP/USD: Sterling eased after rising to a 7-week peak above the 1.2500 handle in the previous session on hopes that a deal between Britain and the European Union could be secured by October 31. The major traded 0.1 percent down at 1.2478, having hit a high of 1.2504 on Friday, it’s highest since July 25. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2522 (July 24 High), a break above could take it near 1.2578 (July 12 High). On the downside, support is seen at 1.2369 (5-DMA), a break below targets 1.2285 (10-DMA). Against the euro, the pound was trading 0.3 percent down at 88.75 pence, having hit a high of 88.53 on Friday, it’s highest since June 7.
AUD/USD: The Australian dollar declined, reversing most of its previous session gains after data showed China's industrial output expanded at the slowest rate since 2002, a sign of increasing weakness in an economy lashed by trade headwinds and soft domestic demand. Chinese industrial production rose 4.4 percent in August year-on-year, slower than the 4.8 percent growth in July, while separate data showed retail sales growth at 7.5 percent, below expectations of 7.9 percent growth and the 7.6 percent increase in July. The Aussie trades traded 0.1 percent down at 0.6873, having hit a high of 0.6894 on Thursday, it’s highest since July 31. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6848 (September 10 Low), a break below targets 0.6807 (September 6 Low). On the upside, resistance is located at 0.6916 (July 31 High), a break above could take it near 0.6955 (July 26 High).
NZD/USD: The New Zealand dollar fell to a 10-day low, as the slowdown in China's factory and consumer sectors deepened in August due to the U.S. trade war. The Kiwi trades flat at 0.6380, having touched a low of 0.6368 earlier, its lowest level since September 6. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6429 (August 20 High), a break above could take it near 0.6471 (August 13 High). On the downside, support is seen at 0.6340 (August 26 Low), a break below could drag it below 0.6304(August 29 Low).
Asian shares plunged after data showed China’s industrial production growth skidding to its weakest pace in 17-1/2 years in August.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.4 percent.
Australia's S&P/ASX 200 index rallied 0.1 percent to 6,673.50 points and South Korea's KOSPI surged 0.5 percent to 2,058.65 points.
Shanghai composite index declined 0.2 percent to 3,023.97 points, while CSI 300 index traded 0.6 percent down at 3,949.51 points.
Hong Kong’s Hang Seng traded 1.2 percent lower at 27,038.57 points. Taiwan shares added 0.7 percent to 10,898.13 points.
Crude oil prices jumped by more than 10 percent to 4-month highs as the attack on the state-owned producer Saudi Aramco’s processing facilities at Abqaiq and Khurais has cut output by 5.7 million barrels per day. International benchmark Brent crude was trading 10.01 percent higher at $66.17 per barrel by 0522 GMT, having hit a high of $68.38 earlier, its highest since May 30. U.S. West Texas Intermediate was trading 9.1 percent up at $59.74 a barrel, after risining as high as $63.20 earlier, its highest since May 21.
Gold prices surged by 1 percent as an attack on Saudi Arabia’s oil facilities boosted the demand for the safe-haven assets, while investors awaited clues on monetary easing from major central bank meetings due this week. Spot gold was trading 0.9 percent up at $1,502.16 per ounce by 0528 GMT, having touched a low of $1,483.22 on Wednesday, its lowest since August 13. The metal slumped 1.2 percent in the previous week on hopes that an end to the U.S.-China trade tiff could be near. U.S. gold futures rose 0.8 percent to $1,511.20 per ounce.
The Australian government bonds slumped during Asian trading session tracking a similar movement in the United States Treasuries on burgeoning hopes of a trade deal. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, edged nearly 1 basis point higher to 1.180 percent, the yield on the long-term 30-year bond remained steady at 1.760 percent while the yield on short-term 2-year hovered around 0.918 percent by 03:08GMT.