Europe Roundup: Euro dips on fading U.S. stimulus hopes, virus concerns, Europe shares tumbles 2%, Gold falls, Oil slips as new lockdown measures threaten demand recovery-October 15th,2020
Asia Roundup: Kiwi plunges to 1-1/2 week low on negative rate speculation, dollar gains against yen on U.S. stimulus hopes, Asian shares surge - Thursday, October 8th, 2020
Europe Roundup: Sterling gains against dollar as traders bet on Brexit breakthrough, U.S. stimulus bets ,European stocks gains ,Gold firms ,Oil falls on demand concerns and new European lockdowns-October 19th,2020
Asia Roundup: Aussie rises as consumer sentiment improves, greenback hold gains amid renewed concerns over coronavirus vaccine, Asian shares plunge - Wednesday, October 14th, 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
Europe Roundup: Sterling edges lower as Brexit negotiations continue, European shares dips,Gold steadies, Oil rebounds as strong China trade data offsets supply concerns-October 13th,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
America’s Roundup: Dollar slips as investors eye Biden presidency, Wall Street finishes up, Gold jumps 1%,Oil prices slip over 1% after Norway oil worker strike ends-October 10th,2020
Europe Roundup: Sterling holds above $1.30 ahead of new lockdown measures ,European shares gains ,Gold slips from three-week high, Oil prices fall as supply concerns ease-October 12th,2020
Europe Roundup: Euro rises on softer dollar, U.S. stimulus hopes, European stocks rise, Gold rises,Oil prices head for 10% weekly jump on North America, Norway outages-October 9th,2020
Asia Roundup: Kiwi eases on negative interest rates expectations, dollar slumps against yen as Trump's stimulus proposal draws criticism, Chinese stocks boost Asian markets higher - Monday, October 12th, 2020
America’s Roundup: Dollar steadies after coming under pressure, Wall Street falls, Oil ends up on supply issues, nixed U.S. stimulus talks a bearish sign-October 7th,2020
Europe Roundup: Sterling edges up as Brexit mood brightens ,European shares gains, Gold firms ,Oil rises above $42 on supply losses, U.S. stimulus hopes-October 8th,2020
America’s Roundup: Dollar slips to near one-week low,Wall Street closes lower, Gold rises, Oil dips after OPEC+ meeting as Libyan supply boost weighs-October 20th,2020
America’s Roundup: Dollar steady as markets wait on stimulus news, Wall Street hits one-month high, Gold firms, Oil jumps on supply losses, possible OPEC output reversal-October 9th,2020
Asia Roundup: Kiwi at over 1-year peak as FinMin Robertson rules out RBNZ’s rate change, greenback plunges on downbeat data, Asian shares edge higher - Friday, September 18, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar slumped as a batch of weak U.S. data and overall uncertainty about the economic outlook, backed the Federal Reserve’s concern about the pace of recovery. The number of Americans filing new claims for unemployment benefits fell less than expected last week, suggesting the labour market recovery losing steam amid fading fiscal stimulus. The greenback against a basket of currencies traded 0.1 percent down at 92.85, having touched a high of 93.59 on Thursday, its highest since September 9.
EUR/USD: The euro consolidated within narrow ranges, as investors digested yesterday’s data showing Eurozone consumer prices fell in August, pulled down by a decline in energy prices, while core inflation that excludes such volatile elements decelerated sharply too. Inflation in the 19 countries sharing the euro fell 0.4 percent month-on-month in August for a -0.2 percent year-on-year decline. The European currency traded flat at 1.1851, having touched a low of 1.1737 on Thursday, its lowest since August 12. Investors’ attention will remain on a series of data from the Eurozone economies and EZ current account, ahead of Michigan consumer sentiment index. Immediate resistance is located at 1.1829 (21-DMA), a break above targets 1.1863. On the downside, support is seen at 1.1710, a break below could drag it below 1.1680.
USD/JPY: The dollar steadied after tumbling to a 1-1/2 month low in the prior session on downbeat U.S. economic data that cast a shadow over the economic outlook. U.S. jobless claims remained elevated at 860,000, while both housing starts and the Philadelphia Fed business index declined. The yen surged overnight after the Bank of Japan signalled readiness to ramp up stimulus. The major was trading 0.05 percent up at 104.78, having hit a low of 104.54 on Thursday, its lowest since July 31. Investors’ will continue to track the broad-based market sentiment, ahead of Michigan consumer sentiment index. Immediate resistance is located at 105.12, a break above targets 105.29. On the downside, support is seen at 104.35, a break below could take it near at 104.09.
GBP/USD: Sterling held firm below the 1.3000 handle after the Bank of England said it was considering negative interest rates amid rising COVID-19 cases, higher unemployment and a possible new Brexit shock. On Thursday, the BoE kept its main stimulus programmes on hold, as expected, and said that Britain’s economy had performed better than expected. The major traded flat at 1.2968, having hit a high of 1.3007 on Wednesday, it’s highest since September 10. Investors’ attention will remain on the geopolitical developments, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3035, a break above could take it near 1.3064. On the downside, support is seen at 1.2893 (5-DMA), a break below targets 1.2860. Against the euro, the pound was trading 0.1 percent down at 91.39 pence, having hit a high of 90.82 on Thursday, it’s highest since September 10.
AUD/USD: The Australian dollar advanced, extending gains for the sixth straight session, as the greenback weakened on overnight data showing recovery in the U.S. labour market stalling. Moreover, recent data indicating Chinese economy is recovering from the COVID-19 pandemic supported the bid tone around the major. The Aussie trades 0.05 percent up at 0.7313, having hit a high of 0.7345 on Wednesday, it’s highest since September 2. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.7345, a break above could take it near 0.7370. On the downside, support is seen at 0.7279 (10-DMA), a break below targets 0.7258.
NZD/USD: The New Zealand rallied to an over 1-year high amid growing expectations the Reserve Bank of New Zealand will keep rates steady on 23 September ahead of the NZ election (October 17). New Zealand's Finance Minister Grant Robertson reiterated that the central bank is committing to keep the cash rate at 0.25 percent until March 2021. Although there is a chance the RBNZ might indicate a move lower for the OCR earlier (February). The Kiwi traded 0.9 percent higher at 0.6793, having touched a high of 0.6794 earlier, its highest level since April 2019. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6820, a break above could take it near 0.6847. On the downside, support is seen at 0.6712 (5-DMA), a break below could drag it below 0.6692 (10-DMA).
Asian shares nudged higher, but struggled to extend gains as worries about a faltering economic recovery kept investors to the sidelines.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent.
Tokyo's Nikkei rallied 0.2 percent to 23,360.30 points, Australia's S&P/ASX 200 index dropped 0.3 percent to 5,864.50 points. South Korea's KOSPI gained 0.3 percent to 2,412.27 points.
Shanghai composite index surged 1.9 percent to 3,334.50 points, while CSI 300 index traded 2.1 percent up at 4,731.44 points.
Hong Kong’s Hang Seng traded 0.6 percent higher at 24,472.17 points. Taiwan shares added 0.02 percent to 12,875.62 points.
Crude oil price surged, extending gains for the fourth straight session, as OPEC+’s key panel on Thursday pressed for better compliance with oil output cuts against the backdrop of falling crude prices. International benchmark Brent crude was trading 0.6 percent up at $43.52 per barrel by 0543 GMT, having hit a high of $43.64 earlier, its highest since September 4. U.S. West Texas Intermediate was trading 0.6 percent higher at $42.20 a barrel, after rising as high as $41.28 earlier, its highest since September 4.
Gold prices rose, reversing some of its previous session losses as downbeat U.S. jobs data cast a shadow over the economic outlook, and major central banks pledged to roll out further stimulus if required to revive their coronavirus-battered economies. Spot gold climbed 0.5 percent to $1,953.88 per ounce by 0545 GMT, having hit a high of $1973.78 on Wednesday, its highest since September 2. U.S. gold futures were 0.5 percent higher at $1,959.
The U.S. Treasury yields declined, with the benchmark 10-year note yield trading at 0.687 percent.