Europe Roundup: Sterling on track for weekly gain as Brexit negotiations intensify, European stocks rise, Gold ticks up, Oil rises above $42 as possible OPEC+ cut extension offsets demand concern-October 23rd 2020
America’s Roundup:U.S. dollar index edges up from 7-week lows, Wall Street rises, Gold eases, Oil struggles to recover after U.S. gasoline stocks build-October 23rd 2020
Europe Roundup: Euro dips before ECB meeting, European shares dips, Gold holds steady, Oil extends losses with 4% slump on renewed lockdowns-October 29th,2020
America’s Roundup: U.S. dollar gains on rising COVID-19 cases and lockdown restrictions in Europe, Wall Street sinks 3%, Gold slides, Oil plunges over 5% to four-month low as pandemic surges, U.S. crude output soars-October 29th,2020
Europe Roundup: Sterling little changed against dollar as traders hope for Brexit trade deal, European shares edge higher, Gold holds steady, Oil steadies but coronavirus and supply pressures remain-October 20th,2020
Asia Roundup: Aussie rebounds as consumer confidence improves, greenback gains as U.S. stimulus remains elusive, investors eye ECB policy meet - Thursday, October 29th, 2020
America’s Roundup: U.S. dollar gains on rising COVID-19 cases, lockdown risk in Europe, Wall Street rebound up, Gold falls, Oil extends losses with 4% slump on renewed lockdowns-October 30th,2020
Asia Roundup: Kiwi rallies on Ardern's historic re-election win, dollar gains against yen amid U.S. coronavirus relief deal hopes, Asian shares surge - Monday, October 19th, 2020
Asia Roundup: Aussie off 1-week peak, greenback steadies on U.S. stimulus concerns, Asian shares plunge - Thursday, October 22nd, 2020
America’s Roundup: Dollar set for best week in three weeks on stimulus uncertainty, virus concerns, Wall Street gains, Gold dips, Oil dips on COVID-19 resurgence, fears of more supply-October 17th,2020
Asia Roundup: Aussie at 3-week low as RBA minutes confirm rate cut on Nov. 3, greenback steadies amid caution over U.S. coronavirus aid, Asian shares slump - Tuesday, October 20th, 2020
Europe Roundup: Euro gains as investors focus on U.S. stimulus, European stocks fall, Gold hits one-week peak, Oil prices slip as U.S. inventory build stokes fears of supply glut-October 21st,2020
America’s Roundup: Dollar index hits seven-week low with COVID stimulus in focus ,Wall Street slips, Gold jumps 1%, Oil prices fall as inventory report reflects demand weakness-October 22nd, 2020
Europe Roundup: Sterling steadies against dollar as Brexit talks extends, European stocks fall,Gold slips, Oil drops on rising virus cases, increasing Libyan output-October 26th,2020
Asia Roundup: Kiwi slumps as CPI misses expectations, dollar steadies following U.S. presidential debate, Asian shares consolidate - Friday, October 23rd, 2020
America’s Roundup: Dollar hold gains as risk-off sentiment boosts greenback, Wall street ends down, Gold edges up, Oil eases as new lockdowns raise concern about fuel demand-October 16th,2020
Asia Roundup: Aussie set for first weekly loss in six weeks, greenback gains on stimulus optimism, Asian shares subdued - Friday, May 15th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged amid optimism about the re-opening of the U.S. economy from coronavirus lockdowns and possibly more stimulus that could fuel a recovery. The greenback against a basket of currencies traded 0.1 percent up at 100.35, having touched a high of 100.56 on Thursday, its highest since April 24.
EUR/USD: The euro consolidated within narrow ranges, as global markets remained wary of a second wave of coronavirus infections, while European analysts focused on the policy response to the pandemic. The European currency traded flat at 1.0806, having touched a low of 1.0774, its lowest since May 7. Investors’ attention will remain on a series of economic data from the Eurozone economies and EZ trade balance, employment change and gross domestic product, ahead of the U.S. retail sales, industrial production, capacity utilization, business inventories, JOLTS Job Opening and Michigan consumer sentiment index. Immediate resistance is located at 1.0827, a break above targets 1.0845 (10-DMA). On the downside, support is seen at 1.0782, a break below could drag it below 1.0755.
USD/JPY: The dollar trimmed early session gains as rising U.S.-China tensions and worries about a second wave of coronavirus infections rattled investor sentiment. The major was trading 0.05 percent down at 107.15, having hit a high of 107.76 on Monday, its highest since Apr. 23. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, industrial production, capacity utilization, business inventories, JOLTS Job Opening and Michigan consumer sentiment index. Immediate resistance is located at 107.49, a break above targets 107.76. On the downside, support is seen at 107.01, a break below could take it near at 106.80.
GBP/USD: Sterling declined, extending losses for the fifth straight session, weighed down by a combination of coronavirus-induced economic woes and Brexit risks. The British government reiterated its refusal to extend the Brexit transition period deadline beyond December this year, signalling its unwillingness to compromise in trade negotiations with the EU. The major traded 0.2 percent down at 1.2204, having hit a low of 1.2165 on Thursday, it’s lowest since April 7. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2286 (5-DMA), a break above could take it near 1.2320. On the downside, support is seen at 1.2160, a break below targets 1.2130. Against the euro, the pound was trading 0.3 percent down at 88.55 pence, having hit a low of 88.77 on Wednesday, it’s lowest since April 21.
AUD/USD: The Australian dollar eased, reversing most of its previous session gains, as investors and authorities weigh optimism about easing virus containment measures against the risk of more infections and the sheer scale of economic damage. The Aussie trades 0.2 percent down at 0.6449, having hit a low of 0.6403 earlier, it’s lowest since May 7. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.6487, a break above could take it near 0.6530. On the downside, support is seen at 0.6427 (21-DMA), a break below targets 0.6372.
Asian shares were on course to end the week lower as deteriorating U.S.-China relations offset optimism over the reopening of major economies.
MSCI's broadest index of Asia-Pacific shares outside Japan was little changed.
Tokyo's Nikkei rallied 0.6 percent to 20,037.47 points, Australia's S&P/ASX 200 index gained 1.4 percent to 5,404.80 points. South Korea's KOSPI surged 0.1 percent to 1,927.24 point.
Shanghai composite index rose 0.1 percent to 2,866.79 points, while CSI 300 index traded 0.4 percent down at 3,911.55 points.
Hong Kong’s Hang Seng traded 0.2 percent lower at 23,789.80 points. Taiwan shares added 0.3 percent to 10,814.92 points.
Crude oil prices rose, extending previous session gains, as data showed demand for crude picking up in China after the easing of curbs to stem the coronavirus outbreak. International benchmark Brent crude was trading 1.2 percent higher at $31.75 per barrel by 0518 GMT, having hit a high of $32.20 last week, its highest since April 14. U.S. West Texas Intermediate was trading 0.6 percent up at $28.18 a barrel, after rising as high as $27.95 last week, its highest since April 9.
Gold prices surged, hovering towards a 3-week high hit in the previous session, underpinned by talks of further U.S. stimulus and worsening U.S.-China relations. Spot gold gained 0.1 percent to $1,732.55 per ounce by 0528 GMT, having touched a high of $1,736.15 on Thursday, its highest since Apr. 24 and has gained about 1.8 percent so far this week. U.S. gold futures climbed 0.1 percent to $1,742.30.
The benchmark 10-year yield was down 3.1 basis points in afternoon trading at 0.6202 percent. The two-year U.S. Treasury yield was down less than a basis point at 0.153 percent.