America’s Roundup: Dollar hits 11-week low against major currencies, Wall Street gains, Gold firms, Oil steady; U.S.-China tensions weigh, possible output cuts support-June 2nd, 2020
Europe Roundup: Euro rise as investors focus on turns EU recovery plan, European shares edge higher, Gold dips to two-week low, Oil falls on U.S.-China tensions over Hong Kong-May 27th,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
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
Europe Roundup: Euro gains before Trump's press conference on China, European shares dips, Gold up, Oil falls but remains set for biggest monthly gain in years-May 29th,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
Asia Roundup: Dollar steadies as Hong Kong tensions weigh, euro rallies on massive EU stimulus plan, Asian shares trim gains - Thursday, May 28th, 2020
Europe Roundup: Euro buoyed as investor sentiment improves, European shares gain,Gold eases, Oil prices climb as faith in supply cuts grows-May 26th,2020
Asia Roundup: Aussie consolidates near 4-month peak, dollar gains against yen as risk appetite improves, investors eye ECB meeting outcome - Thursday, June 4th, 2020
America’s Roundup: Dollar falls as other economies enter recovery, Wall Street ends higher, Gold slumps 2%,Oil moves higher, hovers below $40 as doubts emerge over next step on OPEC cuts-June 4th,2020
Asia Roundup: Aussie rallies to 5-month peak on better-than-expected Chinese service PMI, greenback slumps amid mass protests against racism, Asian shares surge - Wednesday, June 3rd, 2020
America’s Roundup: Dollar dips as improved risk appetite, EU recovery fund hopes boost euro, Wall Street ends down, Gold gains, Oil rises as higher U.S. refinery rates offsets surprise crude build-May 29th,2020
America’s Roundup: Dollar hits 2-months low against a basket of currencies,Wall Street gains, Gold slips 1%,Oil up more than 3% ahead of OPEC+ meeting and on easing lockdowns-June3rd 2020
America’s Roundup: Dollar dips against euro as month-end flows weigh, Wall Street ends up, Gold gains 1%,Oil surges 5% on U.S.-China trade optimism, falling crude output-May 30th,2020
Europe Roundup: Euro gains for the seventh day against dollar ,European shares rise, Gold dips, Oil tops $40 on OPEC cuts and demand recovery-June 3rd 2020
Europe Roundup: Sterling tumbles on record-low retail data, trade tensions, European shares dip, Gold gains, Oil prices drop as China-U.S. tensions grow –May 22nd 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
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged as investors braced for prolonged uncertainty and governments tightened lockdowns and launched monetary and fiscal measures to fight the virus. The greenback against a basket of currencies traded 0.4 percent up at 99.47, having touched a low of 98.27 on Friday, its lowest since Mar. 17.
EUR/USD: The euro eased, extending prior session losses, as investors continued to digested yesterday's data that showed Euro zone sentiment suffered its steepest ever monthly decline in March as the coronavirus led to declining confidence among consumers and all sectors of the economy. Moreover, strength in the greenback further dented the bid tone around the major. The European currency traded 0.3 percent down at 1.1010, having touched a high of 1.1147 on Friday, its highest since March 17. Investors’ attention will remain on a series of data from the Eurozone economies and EZ prelim consumer price index, ahead of the U.S. consumer confidence and Chicago Purchasing Managers Index. 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 1.0974, a break below could drag it below 1.0954.
USD/JPY: The dollar surged as Japanese investors and companies rushed to cover a shortage of the U.S. currency before their fiscal year-end. Investor risk-sentiment slightly improved after data showed China’s official manufacturing Purchasing Manager’s Index unexpectedly showed activity swung to expansion in March, however, markets tempered their optimism because China’s economy is still expected to suffer a steep economic contraction in the first quarter. The major was trading 0.6 percent up at 108.31, having hit a low of 107.12 on Monday, its lowest since Mar. 18. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer confidence and Chicago Purchasing Managers Index. Immediate resistance is located at 108.95, a break above targets 109.22. On the downside, support is seen at 107.00, a break below could take it near at 106.75.
GBP/USD: Sterling slumped as Britain’s economic outlook was knocked further by a credit ratings downgrade. Ratings agency Fitch cut Britain’s sovereign debt rating on Friday, stating that debt levels would increase as it ramped up spending to offset a near shutdown of the economy. The major traded 0.6 percent lower at 1.2334, having hit a high of 1.2485 on Friday, it’s highest since March 13. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2516 (61.8% retracement of 1.3200 and 1.1406), a break above could take it near 1.2600. On the downside, support is seen at 1.2210, a break below targets 1.2139 (5-DMA). Against the euro, the pound was trading 0.4 percent down at 89.22 pence, having hit a high of 88.65 on Monday, it’s highest since Mar. 13.
AUD/USD: The Australian dollar rallied to a 2-week peak after data out of China showed the official Purchasing Manager’s Index bounced to 52.0 in March, up from a record-low 35.7 in February and beating forecasts of 45.0. China’s manufacturing activity slowed earlier this year as the government instituted large-scale lockdowns and quarantines to contain the spread of the coronavirus disease. The Aussie trades 0.2 percent up at 0.6180, having hit a high of 0.6213 earlier, it’s highest since Mar. 16. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.6234 (61.8% retracement of 0.6684 and 0.5506), a break above could take it near 0.6302. On the downside, support is seen at 0.6062 (5-DMA), a break below targets 0.5945 (10-DMA).
Asian shares gained as factory data out from China supported hopes of a rebound in activity even as other countries across the globe all but shut down.
MSCI's broadest index of Asia-Pacific shares outside Japan surged 1.1 percent.
Tokyo's Nikkei plunged 0.9 percent to 18,917.01 points, Australia's S&P/ASX 200 index declined 2.02 percent to 5,076.80 points and South Korea's KOSPI rose 2.2 percent to 1,754.64 points.
Shanghai composite index rose 0.1 percent to 2,750.15 points, while CSI 300 index traded 0.3 percent up at 3,686.23 points
Hong Kong’s Hang Seng traded 1.1 percent higher at 23,422.01 points. Taiwan shares added 0.8 percent to 9,708.06 points.
Crude oil prices rebounded from multi-year lows as U.S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stabilizing energy markets. International benchmark Brent crude was trading 19.21 percent higher at $27.04 per barrel by 0601 GMT, having hit a low of $21.64 on Monday, its lowest since March 2002. U.S. West Texas Intermediate was trading 5.2 percent up at $21.28 a barrel, after falling as low as $19.29 on Monday, its lowest since Feb. 2002.
Gold prices declined, extending losses for the third straight session as the dollar firmed and as shares rose on hopes of a rebound in China economic activity, however, the metal was on track for its sixth straight quarterly gain amid concerns over the coronavirus outbreak. Spot gold eased 0.5 percent to $1,615.15 per ounce by 0606 GMT, having touched a high of $1644.43 on Thursday, its highest since Mar. 12. It gained about 6.5 percent for the quarter, and about 1.8 percent for the month. U.S. gold futures eased 0.2 percent to $1,615.80.
The Japanese government bond prices dipped, wiith the benchmark 10-year JGB futures falling 0.29 point to 152.44. The benchmark 10-year JGB yield rose 1.5 basis points to 0.015 percent. The 20-year JGB yield rose 1 basis point to 0.300 percent. The 30-year JGB yield rose 1 basis point to 0.405 percent. At the shorter end, the two-year JGB yield rose 3 basis points to minus 0.140 percent, while the five-year yield rose 2 basis points to minus 0.105 percent.