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
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
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
America’s Roundup: U.S. dollar rises as surge in coronavirus cases boosts haven bid,Wall Street falls, Gold slides, Oil settles lower on rise in U.S. coronavirus cases-June 27th,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
Europe Roundup: Euro dips lower against dollar as markets balanced hopes for a global economic recovery, European stocks dips,Gold hits 8-year peak.Oil rises on manufacturing data, U.S. inventories-July 1st 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
Asia Roundup: Yen rallies as rising coronavirus cases threaten economic reopening, investors eye German CPI data - Monday, June 29th, 2020
Asia Roundup: Japanese yen gains as China passes national security law, dollar steadies as investors eye U.S. manufacturing PMI, Asian shares nudge higher - Wednesday, July 1st, 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 gains as dollar sags, investors eye month-end for trade deal, European stocks surge,Gold steadies off 8-year high, Oil prices gain on fall in U.S. crude stockpiles-July 2nd 2020
Europe Roundup: Sterling heads for first weekly win against dollar, European stocks dips, Gold holds steady, Oil falls below $43 on virus fears, still heads for weekly gain-July 3rd 2020
Europe Roundup: Sterling nears three-week highs against dollar,European stocks ease from one-month highs, Gold retreats from multi-year peak, Oil down as U.S. virus spike stokes demand worries-July 7th,2020
Europe Roundup: Euro dips as grim data keeps euro under pressure, European shares edge lower, Gold hovers close eight years high, Oil prices drop on prospect of returning Libyan supplies-June 30th,2020
Asia Roundup: Yen rallies as coronavirus worries deepen, gold set for 5th straight weekly gain, Asian shares slump - Friday, July 10th, 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: Dollar slumps as markets await Trump's Hong Kong response, euro at 2-month peak ahead of EZ prelim CPI, Asian shares plunge - Friday, May 29th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index slumped to a 2-1/2 month low after Hong Kong’s government warned that withdrawing its special U.S. status, could be a double-edged sword and urged the United States to stop interfering in internal affairs. The greenback against a basket of currencies traded 0.2 percent down at 98.26, having touched a low of 98.18 earlier, its lowest since March 17.
EUR/USD: The euro rallied to a 2-month peak as the EU’s announcement of a 750-billion-euro coronavirus recovery fund fuelled optimism about the euro-zone economy. The European currency traded 0.2 percent up at 1.1100, having touched a high of 1.1110 earlier, its highest since March 30. Investors’ attention will remain on a series of data from Eurozone economies, EZ M3 money supply and consumer price index, ahead of the U.S. personal consumption expenditures - prices, wholesale inventories, personal income, goods trade balance, personal spending, Chicago purchasing managers index and Michigan consumer sentiment index. Immediate resistance is located at 1.1132, a break above targets 1.1167. On the downside, support is seen at 1.1039, a break below could drag it below 1.1010.
USD/JPY: The dollar plunged to a near 2-week low, as traders’ focus shifted to U.S. President Donald Trump’s response to China’s passage of a national security law for Hong Kong. On Thursday, China’s parliament approved national security legislation for Hong Kong that Western countries fear could erode the city’s freedoms. The major was trading 0.4 percent down at 107.21, having hit a low of 107.07 earlier, its lowest since May 18. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. personal consumption expenditures - prices, wholesale inventories, personal income, goods trade balance, personal spending, Chicago purchasing managers index and Michigan consumer sentiment index. Immediate resistance is located at 107.84, a break above targets 108.08. On the downside, support is seen at 106.99, a break below could take it near at 106.74.
GBP/USD: Sterling rose against a weaker dollar, although Brexit-related risks and speculation about negative interest rates limit the pound’s upside. The major traded 0.2 percent up at 1.2340, having hit a high of 1.2363 on Tuesday, it’s highest since May 12. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2377, a break above could take it near 1.2420. On the downside, support is seen at 1.2288, a break below targets 1.2249 (5-DMA). Against the euro, the pound was trading flat at 89.89 pence, having hit a low of 90.00 last week, it’s lowest since March 27.
AUD/USD: The Australian dollar surged, extending previous session gains as investors cheered the gradual re-opening of business activity. The Aussie trades 0.4 percent up at 0.6661, having hit a high of 0.6680 on Wednesday, it’s highest since March 9. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.6680, a break above could take it near 0.6733. On the downside, support is seen at 0.6586 (5-DMA), a break below targets 0.6561 (10-DMA).
Asian shares declined as investors awaited Washington’s response to China tightening control over the city of Hong Kong.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.1 percent.
Tokyo's Nikkei fell 0.2 percent to 21,877.89 points, Australia's S&P/ASX 200 index plunged 1.6 percent to 5,755.70 points. South Korea's KOSPI nudged up 0.05 percent to 2,029.60 points.
Shanghai composite index rose 0.2 percent to 2,852.35 points, while CSI 300 index traded 0.3 percent up at 3,867.02 points.
Hong Kong’s Hang Seng traded 0.8 percent lower at 22,952.38 points. Taiwan shares shed 0.05 percent to 10,942.16 points.
Crude oil prices declined after data from the Energy Information Administration showed that U.S. crude oil and distillate inventories rose sharply last week, while fuel demand remained slack. International benchmark Brent crude was trading 1.7 percent lower at $34.76 per barrel by 0611 GMT, having hit a high of $36.96 last week, its highest since March 11. U.S. West Texas Intermediate was trading 2.2 percent down at $32.95 a barrel, after rising as high as $34.78 on Tuesday, its highest since March 11.
Gold prices nudged up as the U.S.-China rift deepened over further moves by Beijing to impose a security law on Hong Kong. Spot gold trading 0.05 percent up at $1,718.90 per ounce by 0614 GMT, having touched a low of $1,694.00 on Wednesday, its lowest since May 11. U.S. gold futures rose 0.4 percent to $1,734.60.
On Thursday, the U.S. benchmark 10-year notes rose three basis points to 0.703 percent. The yields have traded in a range from 0.543 percent to 0.785 percent since the beginning of April.