Asia Roundup: Aussie gains on vaccine hopes, greenback at 1-week trough ahead of U.S. payrolls, Asian shares rally - Thursday, July 2nd, 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
Europe Roundup: Euro dips as coronavirus surge unnerves investors European stocks dips, Gold soars towards 8-year high, Oil falls on rising stocks, worries of new virus wave-June 24th,2020
Europe Roundup: Euro rises on upbeat PMI data ,European shares rise, Gold holds near 1-month peak, Oil rises after Trump assurance on China trade deal-June 23rd 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
America’s Roundup: Dollar records small weekly gain on safe-haven demand, Wall Street climbs, Gold rises, Oil boosted by OPEC+ cuts even as virus weighs on market-June 20th,2020
Europe Roundup: Sterling slips further to $1.24, weighed down by Brexit,European shares rise, Gold on course for third weekly gain, Oil prices inch up as demand upswing counters virus concerns-June 26th,2020
America’s Roundup: Dollar dips as infections spike hits confidence,Wall Street ends higher, Gold jumps, Oil up above 2% on tighter supplies, eased lockdowns-June 23rd 2020
Asia Roundup: Euro eases following ECB Knot's comments, yen rallies as resurgent virus threatens global economic recovery, Asian shares consolidate - Friday, June 26th, 2020
Europe Roundup: Euro dips on fears of pandemic wave, European stocks rebound, Gold steadies, Oil slips towards $40 on record U.S. inventories, COVID fears-June 25th,2020
America’s Roundup: Dollar turns higher as focus turns to surging coronavirus cases, Wall Street jumps, Gold gains, Oil up more than 2% on U.S. jobs data but virus fears cap gains-July 3rd 2020
Asia Roundup: Euro eases on fresh trade tensions, greenback steadies as coronavirus surge drives cash hunt, Asian shares plunge amid holiday-thinned trading - Thursday, June 25th, 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
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: 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: Kiwi at 1-week trough ahead of labour market data, greenback steadies on U.S.-China trade deal optimism, Asian shares surge - Wednesday, November 6th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index steadied near a 3-week peak after a survey on the U.S. service sector published yesterday showed that business sentiment had improved in October from a three-year low in September. The greenback against a basket of currencies traded flat at 97.91, having touched a high of 98.11 on Tuesday, its lowest since October 17.
EUR/USD: The euro declined, hovering towards a near 3-week low hit in the previous session, as the greenback surged on the back of strong U.S. economic data. The European currency traded 0.05 percent down at 1.1065, having touched a low of 1.1063 on Tuesday, its lowest since October 17. Investors’ attention will remain on a series of data from the Eurozone economies, EZ service PMI and retail sales, ahead of the U.S. economic data, including flash nonfarm productivity and unit labour cost data. Immediate resistance is located at 1.1088 (21-DMA), a break above targets 1.1119 (10-DMA). On the downside, support is seen at 1.1045, a break below could drag it below 1.1022.
USD/JPY: The dollar edged down after rising to a near 1-week peak in the prior session on rising hopes for a U.S.-China trade deal and a string of solid U.S. economic data. Investors expect that the Trump administration could roll back some of the tariffs it imposed on goods from China as part of a phase one U.S.-China trade deal. The major was trading 0.1 percent down at 109.07, having hit a high of 109.25 on Tuesday, its highest since October 30. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. flash nonfarm productivity and unit labour cost data. Immediate resistance is located at 109.28 (October 30 High), a break above targets 109.62 (May 31 High). On the downside, support is seen at 108.89, a break below could take it near at 108.54 (5-DMA).
GBP/USD: Sterling consolidated within narrow ranges, as the Bank of England is set to hold interest rates unchanged at a policy meeting on Thursday and a national election less than six weeks away. Investors will closely watch any changes in opinion poll trends for the major political parties before taking big positions on the British pound. The major traded flat at 1.2877, having hit a high of 1.2975 on Thursday, it’s highest since October 22. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2949 (October 24 High), a break above could take it near 1.3000. On the downside, support is seen at 1.2806, a break below targets 1.2748. Against the euro, the pound was trading flat at 85.97 pence, having hit a high of 85.74 last month, it’s highest since May 8.
AUD/USD: The Australian dollar rose, extending previous session gains, as the Aussie 10-year yield hit the highest level in over three months. The 10-year yield is trading at 1.254 percent, the highest level since July 25, representing a 17 basis point gain on the low of 1.08 registered on November 1. The Aussie trades 0.1 percent up at 0.6897, having hit a low of 0.6876 on Tuesday, it’s lowest since October 30. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6868 (10-DMA), a break below targets 0.6838. On the upside, resistance is located at 0.6921, a break above could take it near 0.6950.
NZD/USD: The New Zealand dollar plunged to a 1-week low as investors cautiously awaited domestic labour market data. The economy's unemployment rate is expected to rise to 4.1 percent in the third quarter, up from 3.9 percent in the previous quarter, while the employment change is forecast to slow notably, from 0.8 percent to 0.3 percent. The Kiwi trades 0.05 percent down at 0.6373, having touched a low of 0.6364 earlier, its lowest level since October 30. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6435 (October 22 High), a break above could take it near 0.6456 (November 1 High). On the downside, support is seen at 0.6358 (21-DMA), a break below could drag it below 0.6300.
Asian shares surged as investors cheered on better-than-expected U.S. services sector data and rising hopes for a U.S.-China trade deal.
MSCI's broadest index of Asia-Pacific shares outside Japan rallied 0.1 percent.
Tokyo's Nikkei gained 0.2 percent to 23,297.25 points, Australia's S&P/ASX 200 index fell 0.6 percent to 6,660.20 points and South Korea's KOSPI surged 0.1 percent to 2,145.66 points.
Shanghai composite index declined 0.3 percent to 2,982.69 points, while CSI 300 index traded 0.3 percent down at 3,990.49 points.
Hong Kong’s Hang Seng traded 0.2 percent higher at 27,725.79 points. Taiwan shares added 0.1 percent to 11,653.07 points.
Crude oil prices declined, weighed down by a larger-than-expected build-up in U.S. crude stocks, after gaining for three straight sessions on expectations of an easing of in U.S.-China trade tensions. International benchmark Brent crude was trading 0.6 percent down at $62.55 per barrel by 0447 GMT, having hit a high of $63.17 on Tuesday, its highest since September 24. U.S. West Texas Intermediate was trading 0.6 percent down at $56.88 a barrel, after rising as high as $57.46 on Tuesday, its highest since September 24.
Gold prices steadied after tumbling more than 1 percent in the previous session, as investors awaited further clarity on the U.S.-China trade talks. Spot gold was trading 0.2 percent up at $1,485.88 per ounce by 0451 GMT, having dipped 1.7 percent to a low of $1,479.27 on Tuesday, its lowest since Oct. 16. U.S. gold futures were 0.3 percent higher at $1,488 per ounce.
The Australian government bonds continued to down trend during Asian session Wednesday tracking a similar movement in the United States’ Treasuries after optimism struck over the U.S.-China trade deal, urging investors to shift towards riskier assets.The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 3-1/2 basis points to 1.251 percent, the yield on the long-term 30-year bond surged 3 basis points to 1.826 percent while the yield on short-term 2-year remained flat at 0.897 percent.