Asia Roundup: Antipodeans halt 4-day rally, greenback surges after Fed upgrades economic outlook, Asian shares decline - Thursday, September 17th, 2020
Asia Roundup: Antipodeans gain on renewed coronavirus vaccine hopes, greenback plunges as investors await Fed meeting, Asian shares surge - Monday September 14th, 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
Europe Roundup: Euro edges higher on ECB day, all eyes on inflation comments, European shares inch higher, Gold hits one-week high, Brent oil benchmark dips but stays over $40 a barrel-September 10th,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
America’s Roundup: Dollar gains as risk assets tumble on rising COVID-19 cases, U.S. election uncertainty, Wall Street ends lower, Gold slides 3%, Oil falls 5% as economic outlook dims with rising virus cases-September 22nd 2020
Europe Roundup: Euro firms as ECB policymakers calm worries,European shares flat, Gold slips, Oil falls on U.S. market slide, surprise inventories rise-Sep 11th,2020
Europe Roundup: Euro falls as rising COVID-19 cases unnerve investors, European stocks slips, Gold drops to near two-week low, Oil prices slip on potential Libyan output return, demand concerns-September 21st,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
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
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 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 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
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: Kiwi slumps to 4-week trough as RBNZ hints at further easing, Aussie plunges as Westpac expects monetary easing by RBA, Asian shares volatile - Wednesday, September 23rd, 2020
Asia Roundup: Kiwi plunges ahead of RBNZ policy decision, Aussie slumps on RBA Debelle's comments, greenback holds near 6-week high as investors eye Fed Powell's testimony - Tuesday, September 22nd, 2020
Asia Roundup: Aussie off 6-month peak on RBA's downbeat economic assessment, greenback steadies near multi-month lows as traders await U.S. nonfarm payrolls, Asian shares ease on U.S.-China tensions - Friday, August 7th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index attempted a minor recovery, but stayed close to an over 2-year lows hit in the previous session as investors awaited the U.S. non-farm payrolls data due later in the day, which are widely expected to show jobs creation slowed in July from the previous month, indicating a resurgence in coronavirus infections is undermining the economic recovery. The greenback against a basket of currencies traded 0.2 percent up at 92.98, having touched a low of 92.52 on Thursday, its lowest since May 2018.
EUR/USD: The euro declined from an over 2-year high hit in the prior session as investors await the release of U.S. non-farm payrolls later in the day, which is forecast to show a slowdown in job creation. The European currency traded 0.3 percent lower at 1.1842, having touched a high of 1.1916 on Thursday, its highest since May 2018. Investors’ attention will remain on a series of data from Eurozone economies, ahead of the U.S. unemployment data, nonfarm payroll data, wholesale inventories and consumer credit figures. Immediate resistance is located at 1.1920, a break above targets 1.1957. On the downside, support is seen at 1.1783 (10-DMA), a break below could drag it below 1.1755.
USD/JPY: The dollar edged lower, extending losses for the fourth straight session, as risk sentiment weakened after President Donald Trump took steps to ban transactions with the Chinese owners of two popular mobile apps. On Thursday, Trump issued an executive order banning transactions with ByteDance, the Chinese company that owns the video-sharing app TikTok, and also said he will ban transactions with Chinese firm Tencent Holdings Ltd, which owns the WeChat messaging app. The major was trading down at 105.50, having hit a high of 106.47 on Monday, its highest since July 24. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment data, nonfarm payroll data, wholesale inventories and consumer credit figures. Immediate resistance is located at 105.87, a break above targets 106.19. On the downside, support is seen at 105.09, a break below could take it near at 104.77.
GBP/USD: Sterling eased after rising to a 5-month peak in the prior session on the Bank of England's pessimistic tone on the coronavirus-battered British economy. The BoE kept its benchmark interest rate at 0.1 percent and also left unchanged the size of its bond-buying programme at 745 billion pounds. The major traded 0.1 percent lower at 1.3130, having hit a high of 1.3185 on Thursday, it’s highest since March 9. Investors’ attention will remain on the geopolitical developments, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3190, a break above could take it near 1.3230. On the downside, support is seen at 1.3070, a break below targets 1.3020. Against the euro, the pound was trading 0.2 percent up at 90.21 pence, having hit a high of 89.80 last week, it’s highest since July 13.
AUD/USD: The Australian dollar retreated from a 6-month high, hurt by concerns about worsening U.S.-China relations and the Reserve Bank of Australia’s downbeat assessment of the economy. The RBA downgraded its outlook for the national economy and warned unemployment would stay high for several years , while annual gross domestic product is expected to contract by 6 percent this year and then slowly recover over the next couple of years. The Aussie trades 0.3 percent lower at 0.7210, having hit a high of 0.7243 earlier, it’s highest since Feb. 6. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.7254, a break above could take it near 0.7285. On the downside, support is seen at 0.7169 (5-DMA), a break below targets 0.7120.
Asian shares declined as President Donald Trump's ban, which will start in 45 days, mark an escalation of a row over China’s ambitions in the technology sector.
Tokyo's Nikkei declined 0.4 percent to 22,329.94 points, Australia's S&P/ASX 200 index tumbled 0.6 percent to 6,004.80 points. South Korea's KOSPI gained 0.3 percent to 2,350.60 points.
Shanghai composite index fell 0.4 percent to 3,372.12 points, while CSI 300 index traded 0.5 percent down at 4,737.97 points.
Hong Kong’s Hang Seng traded 1.6 percent lower at 24,538.99 points. Taiwan shares added 0.7 percent to 12,828.87 points.
Crude oil prices declined, extending previous session losses, as bearish sentiment about fuel demand counteracted optimism about Iraq’s supply cut. International benchmark Brent crude was trading 0.2 percent down at $45.02 per barrel by 0545 GMT, having hit a high of $46.21 on Wednesday, its highest since March 6. U.S. West Texas Intermediate was trading 0.1 percent lower at $41.89 a barrel, after rising as high as $43.50 on Wednesday, its highest since March 6.
Gold prices rallied to a new record high, as investors sought safe haven assets amid worsening coronavirus pandemic and its mounting economic toll, putting bullion on track for its longest weekly winning streak in nearly a decade. Spot gold was trading 0.2 percent down at $2,059.79 per ounce by 0549 GMT after hitting an all-time high of $2,075.28 in early trade. The metal has added 4.7 percent so far this week, its ninth straight weekly gain. U.S. gold futures rose 0.6 percent to $2,081.60.
The U.S. Treasury yields edged lower, with the benchmark 10-year note yield trading at 0.524 percent.