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
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
Asia Roundup: Antipodeans rebound from weekly lows, greenback eases as U.S. stimulus delay dents investor sentiment, investors await ECB Chief Lagarde’s speech - Wednesday, October 7th, 2020
Asia Roundup: Antipodeans set for weekly losses, greenback steadies as pandemic recovery stalls, Asian shares slump - Friday, October 16th, 2020
America’s Roundup: Dollar slips as investors eye Biden presidency, Wall Street finishes up, Gold jumps 1%,Oil prices slip over 1% after Norway oil worker strike ends-October 10th,2020
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
Asia Roundup: Aussie at 3-week low as RBA minutes confirm rate cut on Nov. 3, greenback steadies amid caution over U.S. coronavirus aid, Asian shares slump - Tuesday, October 20th, 2020
America’s Roundup: Dollar hold gains as risk-off sentiment boosts greenback, Wall street ends down, Gold edges up, Oil eases as new lockdowns raise concern about fuel demand-October 16th,2020
Asia Roundup: Kiwi plunges to 1-1/2 week low on negative rate speculation, dollar gains against yen on U.S. stimulus hopes, Asian shares surge - Thursday, October 8th, 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: Sterling gains against dollar as traders bet on Brexit breakthrough, U.S. stimulus bets ,European stocks gains ,Gold firms ,Oil falls on demand concerns and new European lockdowns-October 19th,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: 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: 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 up as Brexit mood brightens ,European shares gains, Gold firms ,Oil rises above $42 on supply losses, U.S. stimulus hopes-October 8th,2020
Asia Roundup: Antipodeans halt 4-day rally, greenback surges after Fed upgrades economic outlook, Asian shares decline - Thursday, September 17th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index jumped to a 1-week peak, after the Federal Reserve said it would keep rates near zero until inflation moderately exceeds the U.S. central bank’s 2 percent inflation target. The new economic projections showed policymakers now see the economic growth dropping 3.7 this year, far less than the 6.5 percent decline projected in June. The greenback against a basket of currencies traded 0.3 percent up at 93.42, having touched a high of 93.59 earlier, its highest since September 9.
EUR/USD: The euro plunged to an over 1-month low as focus remains on dovish comments from European Central Bank officials after the bank delivered a more hawkish than expected message after its policy meeting last week. The European currency traded 0.5 percent down at 1.1759, having touched a low of 1.1737 earlier, its lowest since August 12. Investors’ attention will remain on a series of data from the Eurozone economies and EZ consumer price index and construction output data, ahead of the U.S. building permits, housing starts, unemployment benefit claims and Philadelphia Fed Manufacturing Survey. Immediate resistance is located at 1.1829 (21-DMA), a break above targets 1.1863. On the downside, support is seen at 1.1710, a break below could drag it below 1.1680.
USD/JPY: The dollar rebounded from a 1-1/2 month low recorded in the previous session, after the Federal Reserve kept interest rates pinned near zero and said it expects the U.S. economic recovery from the coronavirus crisis to accelerate with unemployment declining faster than the central bank expected in June. The major was trading 0.1 percent higher at 105.27, having hit a low of 104.79 on Wednesday, its lowest since July 31. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. building permits, housing starts, unemployment benefit claims and Philadelphia Fed Manufacturing Survey. Immediate resistance is located at 105.28, a break above targets 105.54. On the downside, support is seen at 104.68, a break below could take it near at 104.51.
GBP/USD: Sterling declined, hating a 3-day rally as investors focus on the fraught trade talks between Britain and the European Union. Investors now await the Bank of England’s policy meeting later in the day, where it is likely to keep interest rates on hold and not expected to change the limit of its quantitative easing. The major traded 0.3 percent down at 1.2928, having hit a high of 1.3007 the day before, it’s highest since September 10. Investors’ attention will remain on the geopolitical developments, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3035, a break above could take it near 1.3064. On the downside, support is seen at 1.2860 (5-DMA), a break below targets 1.2814. Against the euro, the pound was trading 0.1 percent up at 91.00 pence, having hit a high of 90.94 on Wednesday, it’s highest since September 10.
AUD/USD: The Australian dollar slumped after rising to a 2-week peak in the prior session, after the Federal Reserve pledged to keep interest rates low for a long time but stopped short of offering further on stimulus to boost the U.S. economy. The major initially surged following surprisingly robust jobs data, but soon fell back as the greenback rallied across the board. Australia’s unemployment rate unexpectedly slipped from a 22-year high in August to 6.8 percent, while employment surged by 111,000 in August. The Aussie trades 0.4 percent down at 0.7274, having hit a high of 0.7345 on Wednesday, it’s highest since September 2. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.7335, a break above could take it near 0.7366. On the downside, support is seen at 0.7240, a break below targets 0.7209.
NZD/USD: The New Zealand dollar tumbled from a near 2-week high, as the U.S. dollar advanced after the U.S. Federal Reserve announced no new aggressive easing measures at the end of its policy meeting. The Kiwi traded 0.6 percent lower at 0.6691, having touched a high of 0.6759 on Wednesday, its highest level since September 3. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6760, a break above could take it near 0.6789. On the downside, support is seen at 0.6659 (21-DMA), a break below could drag it below 0.6632.
Asian shares declined as the dollar surged after the Fed's new economic projections showed most policymakers see interest rates on hold through to at least 2023.
MSCI’s broadest index of Asia-Pacific shares outside Japan tumbled 0.8 percent.
Tokyo's Nikkei fell 0.6 percent to 23,333.27 points, Australia's S&P/ASX 200 index dropped 1.1 percent to 5,889.80 points. South Korea's KOSPI eased 1.1 percent to 2,409.51 points.
Shanghai composite index declined 0.1 percent to 3,280.18 points, while CSI 300 index traded 0.2 percent down at 4,650.01 points.
Hong Kong’s Hang Seng traded 1.4 percent lower at 24,388.65 points. Taiwan shares shed 0.8 percent to 12,872.74 points.
Crude oil prices declined after rising to a 1-week peak in the prior session amid renewed concerns about weak fuel demand after Hurricane Sally passed through the Gulf of Mexico into the southeastern United States. International benchmark Brent crude was trading 1.4 percent down at $41.68 per barrel by 0448 GMT, having hit a high of $42.41 on Wednesday, its highest since September 4. U.S. West Texas Intermediate was trading 1.4 percent lower at $39.57 a barrel, after rising as high as $40.32 the day before, its highest since September 4.
Gold prices slumped more than 1 percent as the dollar surged after the U.S. Federal Reserve painted a favourable economic recovery picture but stopped short of offering concrete signals on further stimulus. Spot gold was trading 1.05 percent down at $1,941.20 per ounce by 0451 GMT, having hit a high of $1973.78 on Wednesday, its highest since September 2. U.S. gold futures eased 1 percent to $1,951.30.
The U.S. Treasury yields declined, with the benchmark 10-year note yield trading at 0.677 percent.
The Australian government bond futures were flat at the longer end, with the 10-year contract steady at 99.08, while the 3-year bond contract declined 1 tick to 99.725.
The New Zealand government bonds extended previous session rally, with the yield on 10-year debt falling 1.3 basis points to 0.595 percent and 5-year yields edged down to a record-low 0.028 percent.