Asia Roundup; Antipodeans rebound from multi-week lows, dollar gains against yen on renewed stimulus hopes, Asian shares surge - Friday, September 25th, 2020
Asia Roundup: Antipodeans at multi-week lows on additional monetary easing expectations, dollar rallies amid coronavirus concerns, Asian shares plunge amid fading global recovery hopes - Thursday, September 24th, 2020
America’s Roundup: Dollar holds strong gains against eruro,Wall Street closes lower, Gold touches six-week low, Oil edges higher after U.S. crude, fuel stockpiles draw down-September 24th,2020
America’s Roundup: U.S. dollar skids to two-week low vs yen as Fed looms,Wall Street climbs, Gold slips, Oil rises over 2% as U.S. Gulf Coast braces for hurricane -September 16th,2020
America’s Roundup: Dollar falls against the yen,Wall Street ends lower,Gold rises, Oil flat as Libya developments counter OPEC+ boost-September 19th,2020
Europe Roundup: Euro gains on weaker dollar, all eyes on Fed meeting, European stocks gain, Gold rises, Oil slips as demand concerns rise, Libya output looms-September 14th,2020
Europe Roundup:Euro dips on fading economic recovery hopes in Eurozone, European stocks slip to 3-month lows,Gold slides to two-month low, Oil falls as frail demand outlook outweighs U.S. stock drawdown-September 24th,2020
Europe Roundup: Euro dips as eurozone Sept business growth halts ,European stocks gain,Gold hits six-week trough, Oil edges up to $42, eyeing Libya and U.S. inventories-September 23rd,2020
Europe Roundup:Euro edges higher as investors await Fed statement, European stocks gains,Gold rises, Oil jumps above $41 as storm hits U.S. output, inventories drop-September 16th,2020
Asia Roundup: Kiwi at over 1-year peak as FinMin Robertson rules out RBNZ’s rate change, greenback plunges on downbeat data, Asian shares edge higher - Friday, September 18, 2020
Europe Roundup: Euro dips as Fed outlook lifts dollar ,European stocks skid lower, Gold slips, Oil steady as demand worries revive, crews return to U.S. Gulf rigs-September 17th,2020
America’s Roundup: Dollar dips as market recovers from weak U.S. jobs data,Wall Street drops, Gold eases, Oil prices edge up off three-month lows, but demand concerns persist-September 12th,2020
Europe Roundup: Euro falls on concerns about fresh lockdowns in Europe,European stocks bounce,Gold falls, Oil rises on expectation demand can survive new lockdowns-September 22nd 2020
America’ Roundup: Sterling regains lost ground after BoE negative rate talk,Wall Street falls ,Gold slips ,Oil rises 2%, reverses loses as OPEC+ addresses market weakness-September 18th,2020
Asia Roundup: Aussie extends gains following RBA minutes, greenback steadies ahead of Fed decision, Asian shares advance - Wednesday, September 16th, 2020
Europe Roundup: Euro gains as dollar softens ahead of Fed meeting,European stocks flat, Gold hits near 2-week high, Oil rises but bleaker demand outlook weighs-September 15th,2020
Asia Roundup: Aussie gains on upbeat retail sales, greenback slumps amid U.S. stimulus doubts, Asian shares surge - Wednesday, July 22nd, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index held firm near a 4-/1/2 month low, undermined by concern that Republicans and Democrats are struggling to reach consensus on the next round of U.S. economic stimulus measures. The greenback against a basket of currencies traded flat at 95.16, having touched a low of 95.05 on Tuesday, its lowest since Marh 6.
EUR/USD: The euro rallied to an over 1-1/2 year peak after European leaders agreed a stimulus plan to fuel recovery from the economic damage caused by the COVID-19 pandemic. The 27-member bloc narrowed their differences and agreed a 750 billion euro recovery fund and a 1.1 trillion euro 2021-2027 budget to help the continent recover from its deepest recession since World War Two. The European currency traded 0.05 percent up at 1.1532, having touched a high of 1.1547 earlier, its highest since Jan 2019. Investors’ attention will remain on a series of data from Eurozone economies, ahead of the U.S. housing price index and existing home sales. Immediate resistance is located at 1.1570, a break above targets 1.1610. On the downside, support is seen at 1.1462, a break below could drag it below 1.1402.
USD/JPY: The dollar steadied after tumbling to a 1-week low in the prior session as progress in developing vaccines for the novel coronavirus boosted investor's appetite for riskier assets. The major was trading 0.1 percent up at 106.86, having hit a low of 106.67 on Tuesday, its lowest since July 15. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. housing price index and existing home sales. Immediate resistance is located at 107.03 (5-DMA), a break above targets 107.22 (21-DMA). On the downside, support is seen at 106.63, a break below could take it near at 106.38.
GBP/USD: Sterling declined from an over 1-month high hit in the prior session, amid fears of prospect of a hung parliament in a general election. The major traded 0.1 percent down at 1.2717, having hit a high of 1.2768 on Tuesday, it’s highest since June 10. Investors’ attention will remain on the geopolitical developments, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2770, a break above could take it near 1.2820. On the downside, support is seen at 1.2663, a break below targets 1.2619 (5-DMA). Against the euro, the pound was trading 0.2 percent down at 90.66 pence, having hit a high of 90.01 on Tuesday, it’s highest since July 13.
AUD/USD: The Australian dollar surged to an over 1-year high after data showed the country's retail sales rose 2.4 percent in June, on top of a record 16.9 percent jump in May. The major was also supported by Reserve Bank of Australia Governor Phil Lowe's comments, citing that the economy had turned the corner and showed little inclination to ease policy again. The Aussie trades 0.3 percent up at 0.7147, having hit a high of 0.7152 earlier, it’s highest since late April 2019. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.7192, a break above could take it near 0.7232. On the downside, support is seen at 0.7107, a break below targets 0.7050.
Asian shares rose amid hopes that vaccines against the COVID-19 disease might be ready by the end of the year.
Tokyo's Nikkei declined 0.6 percent to 22,751.61 points, Australia's S&P/ASX 200 index declined 1.3 percent to 6,075.10 points. South Korea's KOSPI fell 0.05 percent to 2,228.5 points.
Shanghai composite index rose 0.4 percent to 3,333.63 points, while CSI 300 index traded 0.5 percent up at 4,714.91 points.
Hong Kong’s Hang Seng traded 0.5 percent lower at 25,494.17 points. Taiwan shares added 0.6 percent to 12,473.27 points.
Crude oil prices declined as industry data showed a bigger- than-expected inventory build in the United States where coronavirus cases continue to climb. International benchmark Brent crude was trading 0.05 percent down at $43.96 per barrel by 0545 GMT, having hit a high of $44.86 on Tuesday, its highest since March 9. U.S. West Texas Intermediate was trading 0.1 percent higher at $41.57 a barrel, after rising as high as $42.49 earlier, its highest since March 6.
Gold prices rallied more than 1 percent to its highest in nearly 9-years, supported by a weaker dollar and expectations of more stimulus to revive pandemic-hit economies. Spot gold was trading 0.9 percent higher at $1,860.03 per ounce by 0556 GMT, having hit a high of $1,865.83 earlier, its highest since September 2011. U.S. gold futures rose 0.7 percent to $1,856.80.
The U.S. Treasury yields edged lower, with the benchmark 10-year note yield trading at 0.605 percent.