Asia Roundup: Kiwi at 1-week trough ahead of labour market data, greenback steadies on U.S.-China trade deal optimism, Asian shares surge - Wednesday, November 6th, 2019
Europe Roundup: Sterling consolidates as PM Johnson begins election battle, euro rebounds on upbeat economic data, European shares nudge lower - Wednesday, November 6th, 2019
Asia Roundup: Japanese yen remains almost unchanged after manufacturing PMI, unemployment rate data; gold touches $1,513 mark in early Asia; most Asian markets in green - Friday, November 01, 2019
America’s Roundup: Dollar dips as Fed rate cut weakens greenback, Wall Street ends lower,Gold gains 1%,Oil prices decline on U.S. pipe disruptions, weak Chinese data-November 1st,2019
Europe Roundup: Sterling consolidates near 1-week low ahead of BoE policy meeting outcome, euro rebounds on ECB's EZ growth forecast, gold tumbles as U.S.-China trade deal hopes revive- Thursday, November 7th, 2019
Asia Roundup: Aussie at 1-month low on downbeat employment data, dollar eases against yen amid renewed U.S.-China trade deal concerns, Asian shares slump - Thursday, November 14th, 2019
Europe Roundup: DXY pauses downside amid upbeat data and positive signals around US-China trade negotiations, Bullion halts the three-day rise, European indices set to hit fresh multi-month highs - Monday, November 4th 2019
Europe Roundup: Sterling gains as no-deal Brexit chances ease, euro steadies near 1-month low as Euro zone industry output rises, European shares off 4-month peak - Wednesday, November 13th, 2019
America’s Roundup: Dollar buoyed by U.S.-China tariffs pledge, Wall Street little changed, Oil falls amid doubts over US-China trade deal-November 9th,2019
Asia Roundup: Antipodeans ease amid lingering doubts over U.S.-China trade talks, euro at 3-week low ahead of German industrial data, investors eye BoE monetary policy decision - Thursday, November 7th, 2019
Europe Roundup: Sterling steadies below 1.3000 on upbeat UK manufacturing PMI, greenback near 2-week trough ahead of U.S. nonfarm payroll report, European shares surge - Friday, November 1st, 2019
Europe Roundup: Euro eases on political uncertainties, greenback rallies amid U.S. China trade deal hopes, European shares nudge higher - Tuesday, November 5th, 2019
America’s Roundup: Dollar little changed after Trump speech reveals little on trade, Gold prices dip, Oil prices dip-November 13th,2019
Europe Roundup: Sterling eases on downbeat labour data, euro slumps following ECB Coeure's comments, investors eye Trump's trade speech - Tuesday, November 12th, 2019
America’s Roundup: Dollar weighed down by trade optimism, slowdown fears, Wall Street gains, Gold eases, Oil rises on hopes for US-China trade deal-November 2nd,2019
Asia Roundup: Aussie rebounds as business conditions improve, gold consolidates ahead of U.S. President Trump speech, Asian shares plunge - Tuesday, November 12th, 2019
Asia Roundup: Aussie gains on upbeat jobs data, greenback rebounds on U.S. Treasury Secretary Steven Mnuchin's comments, Asian shares surge - Thursday, October 17th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index steadied after tumbling to a near 5-week low in the previous session after U.S. Treasury Secretary Steven Mnuchin said that trade negotiators are working on nailing down a phase 1 trade deal text for their presidents to sign next month. The greenback against a basket of currencies traded 0.05 percent up at 98.17, having touched a low of 97.90 on Wednesday, its lowest since September 13.
EUR/USD: The euro rose, hovering towards a 1-month peak hit in the previous session, after French central bank Governor Francois Villeroy de Galhau stated that the European Central Bank will implement its September stimulus package in full despite a rare public disagreement, but needs to clarify the symmetric nature of its inflation target at its upcoming policy review. The European currency traded flat at 1.1075, having touched a high of 1.1085 on Wednesday, its highest since September 16. Investors’ attention will remain on a series of data out of Eurozone economies and EZ construction output, ahead of the U.S. building permits, housing starts, unemployment benefit claims, industrial production, capacity utilization and Fed officials' speeches. Immediate resistance is located at 1.1098, a break above targets 1.1116. On the downside, support is seen at 1.1034 (5-DMA), a break below could drag it below 1.1000.
USD/JPY: The dollar declined, extending previous session losses after data released yesterday showed U.S. retail sales fell for the first time in seven months in September, indicating that manufacturing-led weakness could be spreading to the broader economy. The major was trading down at 108.74 having hit a high of 108.89 on Tuesday, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. building permits, housing starts, unemployment benefit claims, industrial production, capacity utilization and Fed officials' speeches. Immediate resistance is located at 108..99 (July 31 High), a break above targets 109.31 (August 1 High). On the downside, support is seen at 108.48 (5-DMA), a break below could take it near at 108.02.
GBP/USD: Sterling eased after rising to a 5-month peak in the prior session amid contradictory headlines about whether Britain and the European Union were on the verge of agreeing a Brexit deal. The major traded 0.1 percent down at 1.2816, having hit a high of 1.2877 on Wednesday, it’s highest since May 21. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2900, a break above could take it near 1.2943. On the downside, support is seen at 1.2747, a break below targets 1.2708. Against the euro, the pound was trading 0.2 percent down at 86.41 pence, having hit a high of 85.97 earlier, it’s highest since May 9
AUD/USD: The Australian dollar rallied after domestic employment data showed 14,700 net new jobs were added in September, matching forecasts, with full-time positions rising to 26,200, while jobless rate eased to 5.2 percent, from a 1-year peak of 5.3 percent. The Aussie trades 0.4 percent up at 0.6787, having hit a high of 0.6810 on Friday, it’s highest since September 19. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6710, a break below targets 0.6671. On the upside, resistance is located at 0.6805, a break above could take it near 0.6829 (September 5 High).
NZD/USD: The New Zealand dollar consolidated within narrow ranges, after dovish comments from a top central banker outweighed a slight upside surprise on domestic inflation. RBNZ deputy governor Geoff Bascand stated that further rate cuts might be needed to bolster growth, despite consumer price inflation rising 0.7 percent in the third quarter. The Kiwi trades flat at 0.6291, having touched a low of 0.6240 on Wednesday, its lowest level since October 2. 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 0.6258, a break below could drag it below 0.6215.
Asian shares gained as the soft U.S. sales data pointed to signs that the U.S. economy was beginning to show signs of weakness.
Tokyo's Nikkei gained 0.1 percent to 22,491.00 points, Australia's S&P/ASX 200 index declined 0.8 percent to 6,684.70 points and South Korea's KOSPI fell 0.4 percent to 2,074.52 points.
Shanghai composite index rose 0.05 percent to 2,979.74 points, while CSI 300 index traded 0.2 percent up at 3,928.00 points.
Hong Kong’s Hang Seng traded 0.6 percent higher at 26,833.59 points. Taiwan shares added 0.2 percent to 11,186.88 points.
Crude oil prices eased after industry data showed a larger-than-expected build-up in stocks in the United States, although comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal limited losses. International benchmark Brent crude was trading 0.1 percent down at $59.00 per barrel by 0423 GMT, having hit a high of $60.66 on Friday, its highest since September 30. U.S. West Texas Intermediate was trading 0.05 percent higher at $52.94 a barrel, after rising as high as $54.91 on Friday, its highest since September 30.
Gold prices steadied as weak United States retail sales data fanned concerns that the country’s economy may be feeling the effects of the long-drawn trade war with China. Spot gold traded flat at $1,488.26 per ounce at 0428 GMT, having touched a low of $1,473.88 on Friday, its lowest since October 1. U.S. gold futures rose 0.1 percent to $1,495.60.
The Australian government bonds slumped during Asian trading session after trade tensions between the United States and China spurred disturbance amongst the market investors amid disappointment from the country’s domestic labour market report for the month of September, released early today. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 2-1/2 basis points to 1.077 percent, the yield on the long-term 30-year bond also surged nearly 2-1/2 basis points to 1.664 percent and the yield on short-term 2-year traded 2 basis points higher at 0.750 percent.