Asia Roundup: Dollar slumps against yen as investors eye Fed policy meeting outcome, U.S. stimulus talks; Asian shares nudge lower - Wednesday, July 29th, 2020
America’s Roundup: Dollar steadies from 2-year lows, Wall Street pauses, Gold retreats from record peak. Oil falls as U.S. stimulus package faces tough talks-July 29th,2020
America’s Roundup: Dollar heads for steepest monthly drop in decade, Wall Street gains, Gold rises, Oil posts monthly gains as U.S. reports record output cuts in May-August 1st,2020
America’s Roundup: Dollar hits two-year lows as Fed affirms dovish stance, Wall Street closes higher, Gold gains, Oil edges up after sharp U.S. crude inventory drop-July 30th,2020
America’s Roundup: Dollar steadies from 2-year lows, Wall Street closes lower, Gold retreats from record peak,Oil falls as U.S. stimulus package faces tough talks-July 29th,2020
Europe Roundup:Euro dips on renewed U.S.-Sino tensions, jobs data eyed, European stocks flat, Gold eases, Oil slips below $45 on demand concerns, set for weekly rise-August 7th,2020
Asia Roundup: Dollar steadies across the board on U.S. stimulus hopes, gold eases from record peak on profit taking, Asian shares nudge higher - Tuesday, July 28th, 2020
Asia Roundup: Aussie gains on upbeat economic data, dollar eases on recovery worries, Asian shares consolidate - Wednesday, August 5th, 2020
Asia Roundup: Aussie eases on U.S.-China tensions, greenback steadies as U.S. treasury yields resume rise, Asian shares consolidate - Monday, August 10th, 2020
Europe Roundup: Sterling slips, erasing recent gains, European stocks grind higher,Gold retreats from record peak, Oil steady as virus fears counter positive factory data-August 3rd,2020
Europe Roundup: Euro's advance slows as risk sentiment falters, European shares slip,Gold retreats more than 1%, Oil prices slide as virus surge weighs on demand outlook-July 30th,2020
Asia Roundup: Aussie off 6-month peak on RBA's downbeat economic assessment, greenback steadies near multi-month lows as traders await U.S. nonfarm payrolls, Asian shares ease on U.S.-China tensions - Friday, August 7th, 2020
Europe Roundup: Sterling rises to five-month high against dollar as BoE signals sub-zero rates not imminent, European shares dip, Gold flirts with record peak, Oil prices pull back from five-month highs as rising product stocks weigh-August 6th,2020
Asia Roundup: Aussie steadies as RBA keeps policy steady, dollar gains against yen as investors await U.S. stimulus deal, Asian shares surge - Tuesday, August 4th, 2020
Europe Roundup: Sterling rises ahead of UK data,, European shares gain, Gold eases, Oil prices back on the rise on U.S. stimulus hopes, Iraq output cut-August 10th,2020
Asia Roundup: Dollar steadies near 2-year low as investors turn to Congress for stimulus, Asian shares surge, markets await EZ economic data - Thursday, July 30th, 2020
Asia Roundup: Yen rallies as coronavirus worries deepen, gold set for 5th straight weekly gain, Asian shares slump - Friday, July 10th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged after yesterdays weekly data showed the number of Americans filing for initial jobless benefits dropped to a near four-month low last week. The greenback against a basket of currencies traded 0.1 percent lower at 96.90, having touched a low of 96.24 on Thursday, its lowest since June 11.
EUR/USD: The euro eased, extending previous session losses as investors awaited fresh developments on a European Union recovery fund that aims to help the region’s economy rebound from the coronavirus pandemic. The European currency traded 0.2 percent down at 1.1264, having touched a high of 1.1370 on Thursday, its highest since June 11. Investors’ attention will remain on a series of data from Eurozone economies, ahead of the U.S. producer price index. Immediate resistance is located at 1.1310, a break above targets 1.1332. On the downside, support is seen at 1.1240, a break below could drag it below 1.1215.
USD/JPY: The dollar plunged to a 2-week low after a surge in new coronavirus infections in the United States undermined the case for a quick recovery in the economy. The major was trading 0.3 percent down at 106.84, having hit a low of 106.83 earlier, its lowest since June 26. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index. Immediate resistance is located at 107.44 (10-DMA), a break above targets 107.90. On the downside, support is seen at 106.66, a break below could take it near at 106.38.
GBP/USD: Sterling eased after rising to a 3-1/2 week peak in the prior session on finance minister Rishi Sunak’s plans to revive the economy. Sunak promised an additional 30 billion pounds ($38 billion) and announced bonuses to get furloughed staff back to work, cut value-added tax for the hospitality sector and temporarily scrapped a property tax on purchases of homes costing up to 500,000 pounds. The major traded 0.3 percent down at 1.2573, having hit a high of 1.2669 on Thursday, it’s highest since June 16. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2653, a break above could take it near 1.2691. On the downside, support is seen at 1.2545 (5-DMA), a break below targets 1.2500. Against the euro, the pound was trading 0.05 percent down at 89.55 pence, having hit a high of 89.45 earlier, it’s highest since June 17.
AUD/USD: The Australian dollar slumped as a surge in new coronavirus infections in the United States dented investor risk appetite. The major trades 0.5 percent down at 0.6928, having hit a high of 0.7001 on Thursday, it’s highest since June 11. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.7005, a break above could take it near 0.7042. On the downside, support is seen at 0.6902 (21-DMA) a break below targets 0.6862.
Asian shares declined as record-breaking new coronavirus cases in several U.S. states stoked concern about economic recovery.
MSCI's broadest index of Asia-Pacific shares outside Japan slumped 0.7 percent.
Tokyo's Nikkei eased 1.05 percent to 22,290.81 points, Australia's S&P/ASX 200 index fell 0.6 percent to 5,919.20 points. South Korea's KOSPI slumped 0.8 percent to 2,150.25 points.
Shanghai composite index eased 1.9 percent to 3,383.32 points, while CSI 300 index traded 1.8 percent down at 4,753.13 points.
Hong Kong’s Hang Seng traded 2.4 percent lower at 25,576.17 points. Taiwan shares shed 0.9 percent to 12,073.68 points.
Crude oil prices slumped to an over 1-week trough and were headed for weekly declines on worries that renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere would suppress fuel demand. International benchmark Brent crude was trading 1.3 percent down at $41.79 per barrel by 0607 GMT, having hit a low of $41.63 earlier, its lowest since July 1. U.S. West Texas Intermediate was trading 1.6 percent lower at $38.95 a barrel, after falling as low as $38.85 earlier, its lowest since June 29.
Gold prices declined but were set for a fifth straight weekly gain as worries over a spike in U.S. coronavirus cases kept the safe-haven metal near the $1,800-per-ounce level. Spot gold was trading 0.3 percent down at $1,797.53 per ounce by 0625 GMT, having hit a high of $1,818.09 on Wednesday, its highest since September 2011 and was up nearly 1.5 percent for the week. U.S. gold futures rose 0.2 percent to $1,806.80.
The U.S. Treasury yields edged lower, with the benchmark 10-year note yield trading at 0.589 percent.