Asia Roundup: Antipodeans tumble on concerns of delay in U.S.-China trade deal, gold near 2-week peak, investors eye ECB policy meeting minutes - Thursday, November 21st, 2019
Europe Roundup: Euro steadies on upbeat German economic data, greenback gains on Fed Powell’s comments, European shares tumble - Thursday, November 14th, 2019
Americas Roundup: Dollar firmer as trade tensions support,Gold slips, Wall Street dips, Oil jumps over 2% after U.S. inventory data, Russia OPEC comments-November 21st,2019
Asia Roundup: Kiwi halts 5-day losing streak ahead of RBNZ policy meeting, dollar eases against yen amid persisting U.S.-China trade deal concerns, Asian shares plunge - Monday, November 11th, 2019
Asia Roundup: Aussie eases on RBA policy meeting minutes, dollar tumbles amid doubts over the U.S.-China trade deal, Asian shares subdued - Tuesday, November 19th, 2019
Europe Roundup: Sterling consolidates below 1.2900 amid persisting concerns over economic outlook, euro gains on better-than-expected EZ trade surplus, European shares plunge - Friday, November 15th, 2019
America’s Roundup: Dollar dips as risk-off mood boosts yen, Wall Street slips, Gold rises, Oil mixed amid U.S. crude stock build-November 15th, 2019
America’s Roundup: Dollar little changed after Trump speech reveals little on trade, Gold prices dip, Oil prices dip-November 13th,2019
Asia Roundup: Antipodeans steady as China cuts repo rate, dollar rallies against yen on optimism over U.S.-China trade deal, Asian shares nudge higher - Monday, November 18th, 2019
America’s Roundup: Dollar little changed as spotlight remains firmly on US-China trade war, Wall Street edges lower, Gold eases, Oil rises to two-month high -November 22nd 2019
Europe Roundup: Sterling steadies above 1.2900 on hopes of Conservative majority, euro halts 4-day rally on Italy's warning over EZ bailout fund reform, investors eye Fed minutes - Wednesday, November 20th, 2019
America’s Roundup: Dollar steady as case for Fed's pause solidifies, Wall Street slips, Gold gains, Oil falls as U.S.-China trade deal prospects dim-November 14th,2019
Europe Roundup: Sterling steadies as UK economy grows at slowest annual rate, euro holds near 4-week trough amid political turmoil, European shares tumble - Monday, November 11th, 2019
Asia Roundup: Kiwi at 1-week peak as RBNZ stands pat, greenback consolidates ahead of Fed Chair Powells' testimony, Asian shares tumble - Wednesday, November 13th, 2019
Asia Roundup: Antipodeans tumble on soft Chinese trade figures, dollar near 5-month peak against yen amid renewed hopes of U.S.-China trade deal, Asian shares off 6-month high - Friday, November 8th, 2019
Asia Roundup: Antipodeans ease on renewed U.S.-China trade tensions, greenback steadies ahead of Fed meeting minutes, Asian shares slump - Wednesday, November 20th, 2019
Asia Roundup: Antipodeans rally on U.S.-China trade talks hopes, greenback at multi-week lows as soft CPI figures support Fed rate cut speculation, investors eye EBC Draghi’s speech - Friday, October 11th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index plunged to multi-week lows after data showed U.S. consumer prices were unchanged in September and underlying inflation retreated, supporting expectations the Federal Reserve will cut interest rates in October for the third time this year. The greenback against a basket of currencies traded 0.05 percent down at 98.64, having touched a low of 98.62 earlier, its lowest since September 25.
EUR/USD: The euro rose, extending gains for the third straight session after German Finance Minister Olaf Scholz at a meeting of euro finance ministers in Luxemburg on Thursday stated that Eurozone countries will put in place a joint budget to boost economic reforms. The European currency traded 0.1 percent up at 1.1017, having touched a high of 1.1033 the day before, its highest since September 20. Investors’ attention will remain on a series of data out from the Eurozone economies and ECB Draghi and De Guindos' speech, ahead of the U.S. import and export price index, Michigan prelim consumer sentiment index, Fed official's speeches. Immediate resistance is located at 1.1059 (78.6% retracement of 1.1109 and 1.0879), a break above targets 1.1084. On the downside, support is seen at 1.0987 (21-DMA), a break below could drag it below 1.0957 (10-DMA).
USD/JPY: The dollar rallied to a near 2-week peak, as risk appetite improved after U.S. President Donald Trump said he would meet with China’s top trade negotiator today. The major was trading up at 107.99, having hit a high of 108.13 earlier, its highest since October 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. import and export price index, Michigan prelim consumer sentiment index, Fed official's speeches. Immediate resistance is located at 108.25 (September 13 High), a break above targets 108.63 (July 5 High). On the downside, support is seen at 107.66 (21-DMA), a break below could take it near at 107.31 (September 23 Low).
GBP/USD: Sterling surged, hovering towards a 2-week peak hit in the prior session after the prime ministers of Britain and Ireland revived hopes of a possible Brexit deal. On Thursday, Irish Prime Minister Leo Varadkar said a Brexit deal could be clinched by the end of October to allow the United Kingdom to leave the European Union. The major traded 0.2 percent up at 1.2466, having hit a high of 1.2469 on Thursday, it’s highest since September 25. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2503, a break above could take it near 1.2582. On the downside, support is seen at 1.2369 (21-DMA), a break below targets 1.2295 (10-DMA). Against the euro, the pound was trading flat at 88.38 pence, having hit a high of 88.30 on Thursday, it’s highest since Sept. 25
AUD/USD: The Australian dollar rallied, extending the previous session rebound on hopes of a trade resolution between the United States and China. The Aussie trades 0.2 percent up at 0.6771, having hit a high of 0.6781 earlier, it’s highest since September 23. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6742, a break below targets 0.6687. On the upside, resistance is located at 0.6803 (September 25 High), a break above could take it near 0.6829 (September 5 High).
NZD/USD: The Zealand dollar consolidated within narrow ranges as investors remained on the sidelines as high-level U.S.-China trade negotiations were due to continue today. The Kiwi trades flat at 0.6318, having touched a low of 0.6277 on Thursday, its lowest level since October 3. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6287 (10-DMA), a break below could drag it below 0.6249.
Asian shares rallied as risk sentiment improved after U.S. President Donald Trump said he would meet with China’s top trade negotiator.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.2 percent.
Tokyo's Nikkei gained 1.2 percent to 21,798.87 points, Australia's S&P/ASX 200 index rallied 0.9 percent to 6,606.80 points and South Korea's KOSPI surged 1.01 percent to 2,048.57 points.
Shanghai composite index rose 0.9 percent to 2,974.37 points, while CSI 300 index traded 1.1 percent up at 3,914.47 points. Hong Kong’s Hang Seng traded 2.3 percent higher at 26,304.52 points.
Crude oil prices rose, extending previous session gains after producer club OPEC hinted at making deeper cuts in supply while optimism was revived over talks between the United States and China to end their trade war. International benchmark Brent crude was trading 0.4 percent up at $59.68 per barrel by 0529 GMT, having hit a high of $59.69 earlier, its highest since October 1. U.S. West Texas Intermediate was trading 0.4 percent higher at $54.09 a barrel, after rising as high as $54.15 earlier, its highest since October 2.
Gold prices edged lower as U.S. President Donald Trump’s remarks on progress in U.S.-China trade talks boosted risk appetite. Spot gold was trading flat at $1,493.40 per ounce by 0532 GMT, having touched a high of $1,516.96 on Thursday, its highest since October 3. U.S. gold futures dipped 0.2 percent to $1,498.50.
The Australian government bond yields cheered market investors after trade negotiations began between the United States and China in Washington yesterday, keeping markets hopeful of a positive outcome by end of this week. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 12 basis points to 1.015 percent, the yield on the long-term 30-year bond surged nearly 13 basis points to 1.615 percent and the yield on short-term 2-year remained tad higher at 0.708 percent.