America’s Roundup: Dollar rises after upbeat U.S. data ,Wall St at record levels on trade hopes, Oil edges lower after U.S. crude and gasoline build-November 28th,2019
Europe Roundup: Sterling at 7-month peak as investors speculate on Conservative majority, euro tumbles as German services sector growth weakens, investors eye U.S. service PMI - Wednesday, December 4th, 2019
Asia Roundup: Kiwi at 4-month peak, dollar steadies against yen on trade deal optimism; Asian shares rally - Friday, December 6th, 2019
Asia Roundup: Kiwi rallies to 4-month peak as RBNZ increases bank capital requirements, greenback eases on soft U.S. services report, investors eye OPEC meetings - Thursday, December 5th, 2019
Europe Roundup: Sterling eases below 1.2900 as probability of a hung parliament increases, euro tumbles as EZ factory activity declines, investors eye ECB President Lagarde's speech - Monday, December 2nd, 2019
America’s Roundup: Dollar slip as U.S.-China trade deadline looms,Wall Street ends flat, Gold firms, Oil rises but U.S.-China trade war weighs on demand outlook-December 11th,2019
Europe Roundup: Sterling gains following YouGov poll, euro rebounds as Eurozone sentiment improves, European shares tumble - Thursday, November 28th, 2019
America’s Roundup: Dollar firms above 1-month lows on trade tensions, Wall Street bounces, Gold retreats, Oil jumps 4% on U.S. stockpiles drop-December 5th,2019
Asia Roundup: Dollar consolidates against yen as tariff deadline looms, sterling eases on UK poll projections, investors’ eye Fed policy decision - Wednesday, December 11th, 2019
Europe Roundup: Sterling at 6-week peak as poll show Conservative lead widening, euro tumbles as EZ PPI eases, European shares plunge on trade tariffs - Tuesday, December 3rd, 2019
Europe Roundup: Sterling gains on Conservative Party victory expectations, euro rallies as EZ investor sentiment improve, European shares slump - Tuesday, December 10th, 2019
America's Roundup: Dollar gains after stronger-than-expected U.S. jobs report, Gold slips 1%,Wall Street climbs ,Oil rises sharply this week as OPEC+ agrees on deeper output cuts-December 7th,2019
Asia Roundup: Antipodeans ease on prospects of U.S. tariffs, greenback rallies on strong U.S. jobs data, Asian shares surge - Monday, December 9th, 2019
Europe Roundup: Sterling gains as poll shows Conservative lead, Swiss franc at 1-1/2 month low on trade deal optimism, European shares at 4-year peak - Wednesday, November 27th, 2019
America's Roundup: Dollar slides to two-week low after soft U.S. manufacturing data, Wall Street falls ,Gold dips,Oil futures rise on talk of further OPEC+ supply curbs-December 2nd 2019
Europe Roundup: Sterling at 8-month peak on expectations of Conservative win in UK election, euro steadies as EZ investor morale improves, European shares tumble - Monday, December 9th, 2019
Europe Roundup: DXY pauses downside amid upbeat data and positive signals around US-China trade negotiations, Bullion halts the three-day rise, European indices set to hit fresh multi-month highs - Monday, November 4th 2019
Economic Data Ahead
Key Events Ahead
DXY: The US Dollar (USD) extended gains across the board following positive signals around US-China trade negotiations as well as an indication of resilience in the world’s biggest economy. DXY was trading 0.19% higher at 97.31 at 11:05 GMT. Technical studies support weakness. Price action has slipped below 200-DMA, retrace above negates bearish bias.
EUR/USD: EUR/USD edges off lows after final October’s manufacturing PMI in Germany came in at 42.1 and 45.9 for the broader Euroland, marginally above preliminary readings. EUR/USD paused a 5-day winning streak. The pair was trading largely muted at 1.1163 at 11:30 GMT. Major and minor trend have shifted to bullish. But the pair finds stiff resistance at 200-DMA (1.1195). Some consolidation at current levels likely. Breakout at 200-DMA will propel the pair higher. Focus now will be on first speech by ECB’s President C.Lagarde in Berlin later today for further impetus.
USD/CHF: Positive signals surrounding US-China trade negotiations as well as an indication of resilience in the world’s biggest economy keep the dollar supported across the board. USD/CHF edges higher from 9-day low at 0.9850 and was trading at 0.9876, up 0.23% at 11:40 GMT. The pair finds major support at 200W SMA at 0.9845. We see weakness only on break below. Immediate resistance is at 5-DMA at 0.9885. Break above could see gains till 20-DMA at 0.9917.
GBP/USD: Short-covering underpins the Sterling at its current levels. GBP/USD was trading largely muted at 1.2923 at 11:45 GMT. Caution prevails as we head toward the BoE rate decision later this week. Bank of England is largely expected to leave rates unchanged at this weeks policy meeting. The central bank's monetary policy stance the tone of the statement will be in focus amidst UK election and Brexit. Technical studies support upside in the pair. Price action currently holds above 200-DMA (1.2707). Retrace below could see bearish resumption.
USD/JPY: USD/JPY extends gains for the 2nd straight session. Price action has bounced off 55-EMA support. However, Japanese holiday limit market moves. The major was trading at 108.447 at 11:50 GMT, up 0.26% at the time of writing after closing 0.12% higher on Friday's trade. Technical bias is neutral. 5-DMA caps intraday upside. 200-DMA is major resistance at 109.02. September’s Factory Orders and Durable Goods Orders will be in focus for further impetus.
European stocks on track to hit fresh multi-month highs. At around 11:00 GMT, The Stoxx Europe 600 was up 0.93% at 403.14. The German DAX gained 1.17% to 13113.25.
The French CAC 40 was up 1.12% at 5826.58 and the U.K. FTSE 100 was up 1.13% to 7384.68.
Crude Oil prices push higher following comments from Iranian Oil Minister Zanganeh, who said we could be looking at more OPEC cuts. WTI was trading 1.09% higher at 10:55 GMT after closing 3.62% higher on Friday's trade.
Gold prices edged lower. Mixed sentiment concerning the US-China trade deal caps upside momentum. Spot gold was trading at $1510.33, down 0.23% at 10:50 GMT.
U.S.: The U.S. Treasuries slumped during Monday’s afternoon session, as risk sentiments were lifted by the better-than-expected US’ nonfarm payrolls print of 128k despite the GM strike and the consensus in principle on Phase 1 of the US-China trade deal. US President Donald Trump hinted that the trade deal will be signed somewhere within the country, while Saudi Arabia’s Aramco has officially started its IPO process. The yield on the benchmark 10-year Treasury yield jumped nearly 3 basis points to 1.756 percent, the super-long 30-year bond yield surged nearly 3 basis points to 2.239 percent and the yield on the short-term 2-year traded a tad over 2 basis points higher at 1.584 percent.
UK: The United Kingdom’s gilts slumped during European trading hours Monday after the country’s construction PMI for the month of October surpassed market expectations, with eyes still on the services PMI for the similar period, scheduled to be released on November 5 by 09:30GMT. The yield on the benchmark 10-year gilts, gained nearly 1-1/2 basis points to 0.677 percent, the 30-year yield surged 2-1/2 basis points to 1.187 percent while the yield on the short-term 2-year hovered around 0.515 percent.
EUR: The German bunds suffered during European session Monday after the country’s manufacturing PMI for the month of October cheered market participants beyond expectations. Focus will now remain on a host of 2-tier economic data throughout the week, for additional direction in the debt market. The German 10-year bond yield, which move inversely to its price, gained 1 basis point to -0.365 percent, the yield on 30-year note jumped nearly 2 basis points to 0.145 percent while the yield on short-term 2-year remained flat at -0.661 percent.
JGBs: Japanese markets remain closed today on account of Culture Day.
AUS: The Australian government bonds plunged during Asian session of the first trading day of the week Monday even as investors remained disappointed on lower-than-expected rise in the country’s retail sales for the month of September, while still eyeing the Reserve Bank of Australia’s (RBA) monetary policy decision, scheduled to be revealed on November 5 by 03:30GMT for further direction in the debt market. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 6-1/2 basis points to 1.170 percent, the yield on the long-term 30-year bond surged nearly 6 basis points to 1.744 percent and the yield on short-term 2-year gained nearly 2-1/2 basis points to 0.857 percent.
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