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
Europe Roundup: Sterling stuck near 8-week lows on talk of negative rates, Brexit, European shares gain, Gold jumps by 1%,Oil rises as lockdowns ease-May 18th,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
America’s Roundup: Dollar climbs to 3-week peak, Wall Street drops, Gold jumps to 3-week high, Oil prices rise on dip in U.S. crude stockpiles and IEA data-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: Dollar rallies as economies emerge from coronavirus lockdowns, Asian shares surge - Monday, May 11th, 2020
Europe Roundup: Sterling dips as rising U.S. yields lift dollar, European shares turn lower, Gold gains, Oil prices drop amid supply glut, fears of second coronavirus wave-May 11th,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
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
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
Asia Roundup: Aussie eases as Beijing readies new security law, dollar plunges against yen on rising U.S.-China tension, Asian shares slump - Friday, May 22nd, 2020
America’s Roundup: U.S. dollar slides ahead of Fed's Powell speech, Wall Street dips, Gold gains, Oil rises as OPEC looks to deepen, extend supply cuts-May 13th,2020
Asia Roundup: Aussie rallies following RBA minutes, dollar gains against yen on vaccine hopes, Asian shares surge - Tuesday, May 19th, 2020
America’s Roundup: Dollar weakens as euro climbs on EU common fund proposal, Wall Street climbs, Gold firms, Oil rise on recovery hopes-May 21st 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
Economic Data Ahead
Key Events Ahead
DXY: The dollar index nudged up after falling to an over 1-week low earlier in the day as the U.S. House of Representatives Speaker said she expected the chamber to pass an estimated $2.2 trillion virus relief bill when it meets on Friday, following the Senate’s approval on Wednesday. The greenback against a basket of currencies traded 0.05 percent up at 99.46, having touched a low of 99.46 earlier, its lowest since Mar. 17.
EUR/USD: The euro surged to a 10-day peak, as the greenback eased on data showing an unprecedented rise in U.S. jobless claims that highlighted the virus’ devastating impact on the economy. The European currency traded 0.3 percent up at 1.1066, having touched a high of 1.1086 earlier, its highest since March 17. Investors’ attention will remain on a series of data from the Eurozone economies, ahead of the U.S. personal consumption expenditure, personal income and spending. Immediate resistance is located at 1.1166 (61.8% retracement of 1.1495 and 1.0635), a break above targets 1.1221. On the downside, support is seen at 1.0964, a break below could drag it below 1.0824.
USD/JPY: The dollar plunged to a 1-week low after data showed the number of Americans filing claims for unemployment benefits surged to a record of more than 3.28 million last week as strict measures to contain the coronavirus pandemic unleashed a wave of layoffs. The major was trading 0.9 percent down at 108.47, having hit a high of 111.71 on Tuesday, its highest since Feb. 24. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. personal consumption expenditure, personal income and spending. Immediate resistance is located at 110.08, a break above targets 110.78. On the downside, support is seen at 107.77 (21-DMA), a break below could take it near at 107.04.
GBP/USD: Sterling rallied as the Bank of England on Thursday said it was prepared to take further action to limit the economic damage from the coronavirus outbreak and held benchmark rates at record lows. The major traded 0.3 percent higher at 1.2232, having hit a low of 1.1409 last week, it’s lowest since 1985. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2394 (21-DMA), a break above could take it near 1.2516 (61.8% retracement of 1.3200 and 1.1406). On the downside, support is seen at 1.2051, a break below targets 1.1933. Against the euro, the pound was trading 0.05 percent up at 90.32 pence, having hit a low of 94.99 last week, it’s lowest since Mar. 2009.
AUD/USD: The Australian dollar rose, having gained more than 10 percent from its 17-year low of $0.5506 touched on Thursday last week. Investors appear to have ignored the record decline in China’s industrial profits. Data released earlier in the day showed China’s Industrial Profits plunged 38.3 percent YoY, for January-February. The Aussie trades 0.4 percent up at 0.6087, having hit a low of 0.5506 last week, it’s lowest since Oct. 2002. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.6148, a break above could take it near 0.6234 (61.8% retracement of 0.6684 and 0.5506)). On the downside, support is seen at 0.5941 (10-DMA), a break below targets 0.5870.
Asian shares gained as investors bet policymakers will announce more stimulus measures to combat the coronavirus pandemic after U.S. unemployment filings surged to a record.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8 percent.
Tokyo's Nikkei rallied 3.9 percent to 19,389.43 points, Australia's S&P/ASX 200 index fell 5.3 percent to 4,842.40 points and South Korea's KOSPI surged 1.9 percent to 1,717.73 points.
Shanghai composite index rose 0.3 percent to 2,772.20 points, while CSI 300 index traded 0.3 percent up at 3,710.06 points
Hong Kong’s Hang Seng traded 0.4 percent higher at 23,439.47 points. Taiwan shares shed 0.4 percent to 9,698.92 points.
Crude oil prices rose as governments around the world pledged a huge injection of funds and other measures to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil. International benchmark Brent crude was trading 1.4 percent lower at $26.45 per barrel by 0549 GMT, having hit a low of $24.51 last week, its lowest since Sept. 2003. U.S. West Texas Intermediate was trading 0.7 percent down at $22.80 a barrel, after falling as low as $20.08 last week, its lowest since Feb. 2002
Gold prices eased as investors booked profits, but was set for its best week since December 2008 as record high U.S. jobless claims due to the coronavirus fuelled hopes for more stimulus to stem the economic damage caused by the epidemic. Spot gold fell 0.2 percent to $1,627.03 per ounce by 0552 GMT, having touched a high of $1644.43 on Thursday, its highest since Mar. 12. U.S. gold futures slipped 0.7 percent to $1,640.00 per ounce.
On Thursday, the benchmark 10-year U.S. Treasury yield was last 2.9 basis points lower to 0.830 percent, with the long bond roughly flat at 1.418 percent. At the short end, the two-year yield was 3.9 basis points lower at 0.287 percent.