Europe Roundup: Sterling falls to lowest since 1985, European shares edged down, Gold slips, Oil up after three-day plunge but coronavirus curbs gains-March 19th,2020
America’s Roundup: Dollar drops as U.S. jobless claims surge, Wall Street rallies for third day, Gold edges higher, Oil prices sink as crippled demand outweighs stimulus hopes-March 27th,2020
Market Roundup: Dollar slips on $2 trillion U.S. plan,Wall Street gains,Gold dips, Oil prices slip as fuel demand sinks in most recent week-March 26th,2020
Europe Roundup: Euro jumps on dollar weakness, European shares turns choppy, Gold falls, Oil prices fall as demand woes eclipse U.S. stimulus-March 25th,2020
Asia Roundup: Aussie eases despite PBoC interest rate cut, greenback rebounds across board as U.S. House passes $2.2 trillion bill, Asia shares plunge - Monday, March 30th, 2020
America’s Roundup: Dollar edges higher as investors wait on fiscal stimulus,Wall Street surges, Gold gains, Oil little changed as falling demand offsets hopes of U.S. aid package-March 25th,2020
Asia Roundup: Antipodeans near 1-week peak, dollar steadies against yen as investors wait U.S. stimulus bill, Asian shares rally - Wednesday, March 25th, 2020
Europe Roundup: Euro dips against dollar as coronavirus fears intensify, European shares retreat, Gold steady, Oil plunges to 2002 lows-March 30th,2020
Europe Roundup: Euro declines as virus fears outweigh stimulus hopes,Gold falls 1%,U.S. crude prices fall to 17-year low as coronavirus spreads-March 18th,2020
America’s Roundup: Dollar stands tall as coronavirus fears fuel rush for funding, Wall Street ,dips, Gold slides nearly 3%,U.S. oil plunges to 18-year low as lockdowns trigger market meltdown-March 19th,2020
America’s Roundup: Dollar gains as investors seek shelter amid pandemic crisis, Wall Street gains, Gold rises, Brent hits 18-year low, U.S. crude dips below $20/bbl-March 31st,2020
Europe Roundup: Euro gains as Fed support fails to lift dollar, European shares gains, Gold rises, Oil jumps towards $28 on Fed steps to support economy-March 24th,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
Asia Roundup: Aussie hits 2-week peak as Chinese manufacturing activity expands, gold eases as dollar strengthens, shares surge, investors eye EZ prelim CPI - Tuesday, March 31st, 2020
Asia Roundup: Antipodeans rebound from multi-week lows, euro gains as U.S. dollar retreats across the board, Asian shares bounce back - Friday, March 20th, 2020
Asia Roundup: Aussie gains as business confidence slightly improves, Kiwi rebounds from near 4-month trough ahead RBNZ policy meeting, Asian shares nudge higher - Tuesday, February 11th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rallied to a 4-month peak as Fed Chair Jerome Powell appears before Congress today to begin two days of testimony and is expected to reiterate that the U.S. economy is doing well. The greenback against a basket of currencies traded 0.05 percent up at 98.88, having touched a high of 98.89 earlier, its highest since Oct. 10.
EUR/USD: The euro plunged to a fresh 4-month low after data released yesterday showed investor morale in the euro zone fell for the first time in four months in February over fears that China will not be able to contain the coronavirus outbreak. The European currency traded 0.05 percent down at 1.0910, having touched a low of 1.0907 earlier, its lowest since October 2. Investors’ attention will remain on a series of data from the Eurozone economies and EZ economic growth forecasts, ahead of the U.S. JOLTS job opening data and Fed Chair Powell's testimony. Immediate resistance is located at 1.0942, a break above targets 1.0976. On the downside, support is seen at 1.0884, a break below could drag it below 1.0839.
USD/JPY: The dollar rose, extending previous session gains, supported by relatively strong economic data in the United States. On Monday, Philadelphia Federal Reserve Bank President Patrick Harker stated that the U.S. economy is in good shape and the central bank should hold rates steady for the time being. The major was trading 0.1 percent up at 109.89, having hit a high of 110.02 on Friday, its highest since Jan. 22. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. JOLTS job opening data and Fed Chair Powell's testimony. Immediate resistance is located at 110.10, a break above targets 110.29. On the downside, support is seen at 109.55 (21-DMA), a break below could take it near at 109.29 (10-DMA).
GBP/USD: Sterling consolidated near a 2-1/2 month trough amid increasing concerns over Britain’s trade talks with the European Union. Investors now await Bank of England Governor Mark Carney's speech at the British Parliament, explaining how monetary policy could improve the economy of the country. The major traded flat at 1.2905, having hit a low of 1.2872 on Monday, it’s lowest since Nov. 27. Investors’ attention will remain on the trade negotiations, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2951 (5-DMA), a break above could take it near 1.3013. On the downside, support is seen at 1.2876, a break below targets 1.2834. Against the euro, the pound was trading flat at 84.48 pence, having hit a low of 85.04 on Monday, it’s lowest since Feb. 4.
AUD/USD: The Australian dollar rose, extending gains from the prior session after a closely-watched measure of Australian business conditions showed activity stayed flat in January though confidence lifted slightly from its lowest since mid-2013. The Aussie trades 0.5 percent up at 0.6716, having hit a low of 0.6662 on Friday, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6650, a break below targets 0.6615. On the upside, resistance is located at 0.6736, a break above could take it near 0.6774.
NZD/USD: The New Zealand dollar rebounded from a near 4-month low as investors eye Reserve Bank of New Zealand’s monetary policy decision on Wednesday, where it is expected to hold rates at record lows of 1.0 percent. The Kiwi trades 0.2 percent up at 0.6396, having touched a low of 0.6378 earlier, its lowest level since November 15. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6440 (5-DMA), a break above could take it near 0.6468. On the downside, support is seen at 0.6358, a break below could drag it below 0.6327.
Asian shares surged as investors assessed how quickly China’s factories could return to work as the coronavirus continues to spread and deaths mount.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.6 percent.
Australia's S&P/ASX 200 index rallied 0.6 percent to 7,055.30 points and South Korea's KOSPI surged 1.05 percent to 2,224.35 points.
Shanghai composite index rose 0.5 percent to 2,905.48 points, while CSI 300 index traded 1.1 percent up at 3,958.70 points.
Hong Kong’s Hang Seng traded 1.4 percent higher at 27,606.29 points. Taiwan shares added 0.8 percent to 11,664.04 points
Crude oil prices rallied more than 1 percent as recent sharp falls encouraged investors holding short positions to book profits. International benchmark Brent crude was trading 1.01 percent higher at $53.93 per barrel by 0505 GMT, having hit a low of $53.09 on Monday, its lowest since Jan 2019. U.S. West Texas Intermediate was trading 1.1 percent up at $50.14 a barrel, after falling as low as $49.46 on Monday, its lowest since Feb. 4.
Gold prices declined after rising to a 1-week peak in the previous session, as investor risk appetite recovered with an apparent slowdown in the rate of coronavirus infection. Spot gold was trading 0.2 percent down at $1,569.20 per ounce by 0510 GMT, having touched a high of $1577.05 on Monday, its highest since Feb. 4. U.S. gold futures fell 0.3 percent to $1,574.60.
The spread between yields of 3-month and 10-year Treasuries was at minus 1.21 basis points on Monday. The spread was below zero for several days last week. The 10-year Treasury yield has fallen 18.7 percent since Dec. 31. It was last 2.5 basis points lower to 1.553 percent. Across maturities Treasury yields were lower, with the two-year note yield down 2 basis points to 1.379 percent and the 30-year bond yield down 1.9 basis point to 2.024 percent.