Asia Roundup: Japanese yen gains as China passes national security law, dollar steadies as investors eye U.S. manufacturing PMI, Asian shares nudge higher - Wednesday, July 1st, 2020
Asia Roundup: Aussie near 3-week peak ahead of RBA policy meeting, dollar steadies against yen as investors eye U.S. services sector data, Asian shares at 4-month high - Monday, July 6th, 2020
Europe Roundup: Sterling heads for first weekly win against dollar, European stocks dips, Gold holds steady, Oil falls below $43 on virus fears, still heads for weekly gain-July 3rd 2020
America’s Roundup: Dollar edges lower amid uncertain U.S. outlook, Wall Street gains,Gold gains, Oil slips slightly on rising coronavirus cases, returning Libyan supplies-1st July 2020
Europe roundup: Sterling gains as dollar sags, investors eye month-end for trade deal, European stocks surge,Gold steadies off 8-year high, Oil prices gain on fall in U.S. crude stockpiles-July 2nd 2020
Europe Roundup: Euro rises on upbeat Euro zone retail sales data, European shares gain, Gold ticks higher, Oil mixed on tighter supply, surge in U.S. virus cases-July 6th,2020
Europe Roundup: Euro dips as grim data keeps euro under pressure, European shares edge lower, Gold hovers close eight years high, Oil prices drop on prospect of returning Libyan supplies-June 30th,2020
America’s Roundup: U.S. dollar regains traction in FX markets, Wall Street drops, Gold retreats from near eight-year peak, Oil steadies as economic data overshadows coronavirus worries-July 8th,2020
Asia Roundup: Yen rallies as rising coronavirus cases threaten economic reopening, investors eye German CPI data - Monday, June 29th, 2020
Europe Roundup: Euro dips against dollar as coronavirus anxiety deepens, European stocks gain, Gold set for fifth weekly gain, Oil dips, heading for weekly loss as virus cases rise-July 10th,2020
America’s Roundup: Dollar recovers some overnight losses , Wall Street gains,Gold steadies near multi-year peak, Oil rises on improving economic data but virus case jump caps gains-June 30th,2020
America’s Roundup: Dollar little changed against Japanese yen as virus fears counter gains, Wall Street gains, Gold edges higher, Oil steady as hopeful economic data face spike in virus cases-July 7th,2020
Asia Roundup: Aussie retreats from near 4-week peak on fresh lockdowns, dollar rebounds against yen on upbeat service sector data, Asian shares plunge - Tuesday, July 7th, 2020
Asia Roundup: Aussie gains on upbeat retail sales, dollar consolidates within narrow ranges amid holiday-thinned trading, Asian shares at 4-month peak - Friday, July 3rd, 2020
Asia Roundup: Aussie eases as virus cases mount, gold steadies near more than 8-year high, Asian shares nudge lower - Wednesday, July 8th, 2020
Europe Roundup: Sterling nears three-week highs against dollar,European stocks ease from one-month highs, Gold retreats from multi-year peak, Oil down as U.S. virus spike stokes demand worries-July 7th,2020
Asia Roundup: Aussie eases on worsening U.S.-China tensions, dollar rallies against yen as risk sentiment slightly improves on potential Japanese stimulus, Asian shares consolidate - Monday, May 25th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged after a senior White House official said Beijing’s plan to impose a security law on the former British colony of Hong Kong could lead to U.S. sanctions. The greenback against a basket of currencies traded 0.2 percent up at 99.93, having touched a low of 99.00 on Wednesday, its lowest since May 4.
EUR/USD: The euro slumped to a 1-week low as the dollar surged after thousands rallied on Sunday to protest against Beijing’s plan to impose national security laws on Hong Kong. The European currency traded 0.2 percent down at 1.0879, having touched a high of 1.1008 on Thursday, its highest since May 1. Immediate resistance is located at 1.0915, a break above targets 1.0987. On the downside, support is seen at 1.0867 (21-DMA), a break below could drag it below 1.0835.
USD/JPY: The dollar surged, as risk sentiment slightly improved on news that Japan is considering fresh stimulus worth over $929 billion, which mostly consists of financial aid programmes for companies hit by the coronavirus pandemic. The major was trading 0.1 percent up at 107.70, having hit a high of 108.08 on Tuesday, its highest since Apr. 13. Immediate resistance is located at 107.87, a break above targets 108.10. On the downside, support is seen at 107.43, a break below could take it near at 107.26.
GBP/USD: Sterling rose, halting a 4-day winning streak, as UK Prime Minister Boris Johnson backed his senior adviser Dominic Cummings on Sunday, despite calls from within his own Conservative Party for the aide to resign. Cummings came under pressure after reports he travelled to northern England from London during a nationwide lockdown in March when his wife was ill with COVID-19 symptoms. The major traded 0.2 percent up at 1.2179, having hit a low of 1.2075 last week, it’s lowest since Mar. 26. Immediate resistance is located at 1.2218 (10-DMA), a break above could take it near 1.23239. On the downside, support is seen at 1.2130, a break below targets 1.2099. Against the euro, the pound was trading 0.2 percent up at 89.35 pence, having hit a low of 90.00 on Thursday, it’s lowest since March 27.
AUD/USD: The Australian dollar slumped, extending losses for the third straight session, as worries about a standoff between the United States and China over civil liberties in Hong Kong fuelled demand for safe-haven currencies. The Aussie trades 0.1 percent down at 0.6527, having hit a high of 0.6616 on Wednesday, it’s highest since March 9. Immediate resistance is located at 0.6584, a break above could take it near 0.6620. On the downside, support is seen at 0.6504 (10-DMA), a break below targets 0.6483 (21-DMA).
Asian shares trimmed gains amid souring relations between China and the United States.
MSCI's broadest index of Asia-Pacific shares outside Japan consolidated within narrow ranges.
Tokyo's Nikkei surged 1.7 percent to 20,741.65 points, Australia's S&P/ASX 200 index rallied 2.2 percent to 5,615.60 points. South Korea's KOSPI gained 1.2 percent to 1,994.60 points.
Shanghai composite index rose 0.05 percent to 2,815.49 points, while CSI 300 index traded 0.1 percent up at 3,828.19 points.
Hong Kong’s Hang Seng traded 0.05 percent lower at 22,918.40 points. Taiwan shares added 0.6 percent to 10,871.18 points.
Crude oil prices declined on concerns over rising tensions between the United States and China over Beijing’s plans to impose security laws on Hong Kong and the possibility of sanctions from Washington. International benchmark Brent crude was trading 0.6 percent lower at $35.11 per barrel by 0544 GMT, having hit a high of $36.96 on Thursday, its highest since March 11. U.S. West Texas Intermediate was trading 0.5 percent down at $33.40 a barrel, after rising as high as $34.64 on Thursday, its highest since March 11.
Gold prices plunged as Japanese equities rose on news of a potential stimulus programme that boosted investors’ risk appetite, although fresh tensions over Hong Kong limited the downside. Spot gold was trading 0.4 percent down at $1,727.22 per ounce by 0559 GMT, having touched a low of $1,717.56 on Thursday, its lowest since May 14. U.S. gold futures were down 0.4 percent at $1,728.50.
The Japanese government bond prices edged down, with benchmark 10-year JGB futures falling 0.10 point to 152.34. In the cash bond market, the 10-year JGB yield rose 1 basis point to minus 0.010 percent, while the 20-year JGB yield rose 2.5 basis points to 0.340 percent. The 30-year JGB yield rose 3 basis points to 0.475 percent.