America’s Roundup: U.S. dollar regains traction in FX markets, Wall Street drops, Gold retreats from near eight-year peak, Oil steadies as economic data overshadows coronavirus worries-July 8th,2020
America’s Roundup: Dollar edges lower amid uncertain U.S. outlook, Wall Street gains,Gold gains, Oil slips slightly on rising coronavirus cases, returning Libyan supplies-1st July 2020
America’s Roundup: Dollar little changed against Japanese yen as virus fears counter gains, Wall Street gains, Gold edges higher, Oil steady as hopeful economic data face spike in virus cases-July 7th,2020
Asia Roundup: Yen rallies as coronavirus worries deepen, gold set for 5th straight weekly gain, Asian shares slump - Friday, July 10th, 2020
Europe Roundup: Sterling rises to three-week highs on news of Brexit talks, European shares slip, Gold steadies, Oil stable as rising virus cases, higher U.S. crude stockpiles stall recovery-July 8th,2020
Asia Roundup: Dollar gains as signs of recovery boost risk appetite, Asian shares rally, investors eye EZ CPI - Tuesday, June 30th, 2020
Europe Roundup: Sterling gains on infrastructure spending promise, Brexit caps gains, European shares gain Gold holds close to near 8-year peak, Oil rises on improving economic data, supply cut-June 29th,2020
Asia Roundup: Aussie eases as virus cases mount, gold steadies near more than 8-year high, Asian shares nudge lower - Wednesday, July 8th, 2020
America’s Roundup: U.S. dollar slides as vaccine news offsets surge in virus cases, Wall Street gains, Gold poised for fifth weekly gain, Oil rises as International Energy Agency boosts demand forecast-July 11th,2020
Americas Roundup: U.S. dollar slides to two-week low,Wall Street inches up, Gold smashes through $1,800 level,Oil falls as rise in virus cases, U.S. inventories stall recovery-July 9th,2020
Europe Roundup: Sterling rises on delayed response to Sunak's economic plan,European shares gain, Gold rises towards nine-year peak , Oil slips as coronavirus fears offset gasoline recovery signs-July 9th,2020
Europe Roundup: Euro rises on upbeat Euro zone retail sales data, European shares gain, Gold ticks higher, Oil mixed on tighter supply, surge in U.S. virus cases-July 6th,2020
Asia Roundup: Aussie gains on upbeat retail sales, dollar consolidates within narrow ranges amid holiday-thinned trading, Asian shares at 4-month peak - Friday, July 3rd, 2020
Asia Roundup: Aussie gains on vaccine hopes, greenback at 1-week trough ahead of U.S. payrolls, Asian shares rally - Thursday, July 2nd, 2020
Asia Roundup: Yen rallies as rising coronavirus cases threaten economic reopening, investors eye German CPI data - Monday, June 29th, 2020
Asia Roundup: Aussie retreats from near 4-week peak on fresh lockdowns, dollar rebounds against yen on upbeat service sector data, Asian shares plunge - Tuesday, July 7th, 2020
Asia Roundup: Aussie rallies following RBA minutes, dollar gains against yen on vaccine hopes, Asian shares surge - Tuesday, May 19th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index plunged to a 1-week low after encouraging data from a COVID-19 vaccine trial by U.S. drugmaker Moderna added to the optimism as more governments scale back lockdown restrictions. The greenback against a basket of currencies traded 0.2 percent down at 99.38, having touched a high of 100.56 on Thursday, its highest since April 24.
EUR/USD: The euro surged to a 2-week peak after Germany and France issued a call for a 500 billion-euro recovery fund for Europe and proposed to allow the European Commission to borrow money on markets to finance the fund. The European currency traded 0.1 percent up at 1.0923, having touched a low of 1.0774 on Thursday, its lowest since May 7. Investors’ attention will remain on a series of data from Eurozone economies, EZ construction output and ZEW Survey - economic expectations, ahead of the U.S. building permits, housing starts and Fed Chair Powell's speech. Immediate resistance is located at 1.0952, a break above targets 1.0987. On the downside, support is seen at 1.0871, a break below could drag it below 1.0850.
USD/JPY: The dollar rose, extending previous session gains as encouraging results from the trial of a vaccine for COVID-19 improved sentiment. The major was trading 0.1 percent up at 107.38, having hit a high of 107.76 last week, its highest since Apr. 23. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. building permits, housing starts and Fed Chair Powell's speech. Immediate resistance is located at 107.50, a break above targets 107.76. On the downside, support is seen at 107.06 (21-DMA), a break below could take it near at 106.63.
GBP/USD: Sterling rebounded from a 7-1/2 week low as broad dollar weakness offset talk of negative interest rates from the Bank of England and a stalemate in Brexit negotiations. The major traded 0.5 percent up at 1.2250, having hit a low of 1.2075 on Monday, it’s lowest since Mar. 26. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2305, a break above could take it near 1.2354 (21-DMA). On the downside, support is seen at 1.2165, a break below targets 1.2126. Against the euro, the pound was trading 0.2 percent up at 89.30 pence, having hit a low of 89.60 on Monday, it’s lowest since March 31.
AUD/USD: The Australian dollar rallied to a 2-1/2 week peak after the release of minutes from the Reserve Bank of Australia's most recent monetary policy meeting offered no surprises. The minutes showed board members discussed a range of economic scenarios in their policy deliberations, with the baseline case for gross domestic product to fall by 10 percent in the first half and 6 percent for all of 2020. The Aussie trades 0.4 percent up at 0.6551, having hit a high of 0.6564 earlier, it’s lowest since April 30. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.6584, a break above could take it near 0.6612. On the downside, support is seen at 0.6490, a break below targets 0.6464 (5-DMA).
Asian shares rallied as more countries emerged from their economic lockdowns and a successful early-stage trial of a coronavirus vaccine boosted investor sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.8 percent.
Tokyo's Nikkei rallied 1.5 percent to 20,433.45 points, Australia's S&P/ASX 200 index gained 1.8 percent to 5,559.50 points. South Korea's KOSPI surged 2.3 percent to 1,980.61 points.
Shanghai composite index rose 0.8 percent to 2,898.58 points, while CSI 300 index traded 0.8 percent up at 3,956.25 points.
Hong Kong’s Hang Seng traded 2.1 percent higher at 24,434.64 points. Taiwan shares added 1.1 percent to 10,860.44 points.
Crude oil prices declined on profit-taking after rising to monthly peaks on signs that producers are cutting output as promised. International benchmark Brent crude was trading 1.4 percent lower at $34.98 per barrel by 0555 GMT, having hit a high of $35.74 earlier, its highest since April 9. U.S. West Texas Intermediate was trading 1.1 percent down at $31.84 a barrel, after rising as high as $33.06 on Monday, its highest since March 16.
Gold prices surged, underpinned by Sino-U.S. trade friction and global stimulus, however, promising early-stage data for a potential COVID-19 vaccine limited upside. Spot gold was trading 0.1 percent up at $1,736.60 per ounce by 0559 GMT, having touched a high of $1,765.25 on Monday, its highest since Oct. 12, 2012. U.S. gold futures gained 0.3 percent to $1,739.80.
The government bond prices dipped across all maturities, with the benchmark 10-year JGB futures falling 0.21 point to 152.27. In the cash bond market, the 10-year JGB yield rose 1 basis point to minus 0.005 percent. The 20-year JGB yield rose 0.5 basis point to 0.345 percent. Also in the superlong maturities, the 30-year JGB yield and the 40-year JGB yield gained half a basis point each to 0.475 percent and 0.495 percent, respectively. At the short end of the market, the two-year JGB yield and the five-year yield both rose 1.5 basis points, to minus 0.165 percent and minus 0.125 percent.