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Asia Roundup: Aussie rises gradually against U.S. dollar; Asian markets mixed, gold touches $1,527 mark in early Asia - Friday, August 16, 2019

Market Roundup

  • Singapore July non – oil exports m/m at 3.7 pct vs -7.8 pct previous release.
     
  • Singapore July non – oil exports y/y at -11.20 pct vs -17.40 pct previous release.
     
  • Singapore trade balance at 2.830B vs 2.450B previous release.

Economic Data Ahead

  • (0330 ET/0730 GMT) Thailand forex reserves, currency swap.
     
  • (0400 ET/0800 GMT) Taiwan GDP.
     
  • (0430 ET/0830 GMT) Hong kong GDP.
     
  • (0500 ET/0900 GMT) Euro trade balance.
     
  • (0730 ET/1130 GMT) India forex reserve, bank loan growth, deposit growth.

Key Events Ahead

  • No major key events scheduled for the day.

FX Recap

USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.04% to 98.18.

EUR/USD: The euro trades marginally lower and currently trading around $1.1100 mark. It made intraday high at $1.1112 and low at $1.1095 mark. A consistent close below $1.1106 will drag the parity down towards key supports around $1.1075, $1.1026 and $1.0852 levels respectively. Alternatively, reversal from key support will drag the parity higher towards key resistances around $1.1158, $1.1220, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively.

USD/JPY: The Japanese yen trades flat against U.S. dollar and trading around 106.14 mark. It made intraday high at 106.27 and low at 106.02 levels. A sustained close above 106.12 is required to take the parity higher towards key resistances around 106.78, 107.56, 108.52, 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 105.90 will drag the parity down towards key support around 104.20 mark.

GBP/USD: The pound trades marginally higher against U.S. dollar and stabilizes around $1.21 mark. A sustained close below $1.2022 requires for dragging the parity down towards key support around $1.1920 and $1.1754 mark respectively. On the other side, key resistances are seen at $1.2147, $1.2226, $1.2383, $1.2576 and $1.2772 levels respectively.

AUD/USD: The Aussie strengthens in early Asia and remains well supported above 0.6750 mark. The pair made intraday high at $0.6795 and low at $0.6770 levels. A consistent close below $0.6747 requires for downside rally. On the other side, a sustained close above $0.6802 will take the parity higher towards $0.6977 and $0.7076 levels respectively.

NZD/USD: The New Zealand dollar remains almost unchanged against U.S. dollar and currently stabilizes below $0.6450 mark. A sustained close above $0.6480 requires for the upside rally. Alternatively, key support was seen at $0.6420 mark.

Equities Recap

All the major Asian indices were trading on a mixed note note on Friday. Gold was trading around $1,520 mark while silver was trading around $17.19 mark.

Japan’s Nikkei was trading 0.10 pct higher at 20,426.00 points.

Australia’s S&P/ASX200 was trading 0.09 pct higher at 6,413.55 points.

Hong Kong's hang seng index was trading 0.66 percent higher at 25,665.48 points.

Taiwan stock was trading 1.10 percent higher at 10,440.62 points.

South Korea’s kospi was trading 0.73 percent lower at 1,924.06 points.

India’s NSE Nifty was trading 0.46 pct lower at 10,983.95 points while BSE sensex was trading 0.37 points lower at 37,161.78 points.

Commodities Recap

Oil prices were trading marginally higher on Friday. U.S. Crude Oil WTI Futures were trading 0.76% higher to $55.23. International Brent Oil Futures rose 0.7% to $58.92.

Gold trades higher on Friday and currently trading around $1,520 mark. Pair made intraday high at $1,527 and low at $1,516 mark. Sustained close above $1,522 requires for the upside rally. Alternatively, reversal from key resistance will drag the parity down towards $1,497 and $1,445 marks respectively.

Treasuries Recap

The Australian government bonds traded mixed in subdued Asian session on Friday as global risk appetite attempted to stabilize amid better-than-expected U.S. retail sales data. However, comments from President Donald Trump and China kept traders on their toes over trade war tensions. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, fell 1 basis point to 0.877 percent, the yield on the long-term 30-year bond also dipped 1 basis point to 1.437 percent while the yield on short-term 2-year traded nearly flat at 0.731 percent.

By Aarti Panchal
  • Market Data
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