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
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
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
Asia Roundup: Yen rallies as coronavirus worries deepen, gold set for 5th straight weekly gain, Asian shares slump - Friday, July 10th, 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 rises on delayed response to Sunak's economic plan,European shares gain, Gold rises towards nine-year peak , Oil slips as coronavirus fears offset gasoline recovery signs-July 9th,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
America’s Roundup: Dollar recovers some overnight losses , Wall Street gains,Gold steadies near multi-year peak, Oil rises on improving economic data but virus case jump caps gains-June 30th,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
Europe Roundup: Euro dips against dollar as coronavirus anxiety deepens, European stocks gain, Gold set for fifth weekly gain, Oil dips, heading for weekly loss as virus cases rise-July 10th,2020
Asia Roundup: Aussie extends gains on risk-on trades, yen rallies as COVID-19 cases grow, Asian shares surge - Thursday, July 9th, 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
Asia Roundup: Aussie eases as virus cases mount, gold steadies near more than 8-year high, Asian shares nudge lower - Wednesday, July 8th, 2020
America’s Roundup: U.S. dollar slides as vaccine news offsets surge in virus cases, Wall Street gains, Gold poised for fifth weekly gain, Oil rises as International Energy Agency boosts demand forecast-July 11th,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
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
Europe Roundup: DXY slips lower as markets cautious ahead of FOMC meeting, Gold prices edge higher on possible US-China trade-talk setbacks, European stocks steady - Wednesday, October 30th, 2019
Economic Data Ahead
Key Events Ahead
DXY: Market’s turn risk-averse before the key central bank meetings and the US Gross Domestic Product (GDP) data. DXY slips lower, trades at 97.65, down 0.03% at 11:35 GMT. Technicals support weakness. Dip till 200-DMA at 97.43 likely.
EUR/USD: EUR/USD was trading at 1.1113 at 11:35 GMT. Eurozone Consumer Confidence Index for the eurozone fell to -7.6 in October from -6.5 in September and came in line with the market expectation. The major is largely muted as markets focus on FOMC interest rate decision. The US central bank is widely expected to issue another interest rate cut. The Greenback might gain if Fed guidance falls short of dovish market expectations. The pair trades with a slightly bullish bias. 200-DMA is major resistance at 1.1198, while 21-EMA is strong support at 1.1073.
USD/CHF: The Swiss Frank gained support as markets turned cautious ahead of key FOMC meeting. USD/CHF slipped lower as a result and was trading at 0.9924, down 0.16% at 11:45 GMT. Price action was rejected at 200-DMA, which is stiff resistance at 0.9955. We see scope for upside only on decisive break above. Price action hovers around 21-EMA at 0.9924. Break below can see dip till 0.99 level.
GBP/USD: Sterling remains bid as the UK readies itself for a December 12 General Election. Markets cautious ahead of Fed interest rate decision. GBP/USD extends marginal gains as we write, trades 0.19% higher at 1.2891 at 11:50 GMT. Major and minor trend remain bullish. Price action above 200-DMA, scope for test of 1.2967 (110W EMA). Weakness only below 200-DMA. On the data side focus remains on German unemployment, inflation readings and Eurozone confidence indicators.
USD/JPY: USD/JPY was trading 0.04% lower at 108.84 at around 11:50 GMT. Price action capped at 200-DMA resistance at 109.045, upside only on breakout there. Focus on FOMC meeting and US Gross Domestic Product (GDP) data for further impetus. Markets have largely priced in an interest rate cut from the Fed. However, the Greenback stands to gain if the policy statement falls short of dovish market expectations.
European stocks steady on Wednesday as investors await the Federal Reserve’s monetary policy decision later in the day.
At around 10:45 GMT, The Stoxx Europe 600 was largely unchanged at 398.24. The German DAX declined 0.12% to 12923.58.
The French CAC 40 was up 0.30% at 5757.57 and the U.K. FTSE 100 declined 0.05% to 7302.51.
Gold prices edge higher on possible US-China trade-talk setbacks. Focus on Federal Reserve’s next monetary policy decision.
Spot Gold was trading at $1493.27 per ounce at 10:45 GMT. Silver was trading 0.43% higher at $17.87 at the time of writing.
WTI crude edges higher despite weaker than previous API stockpiles report. US oil was trading at $55.49 per brl at 11:00 GMT, up 0.05% at the time of writing.
U.S.: The U.S. Treasuries remained steady during Wednesday's afternoon session amid hopes of a further 25bp interest rate cut by the Federal Reserve at its monetary policy meeting later today. Also, the country’s ADP non-farm employment report for the month of October and third-quarter gross domestic product (GDP), all scheduled for release today by 12:15GMT and 12:30GMT, will add direction to the debt market. The yield on the benchmark 10-year Treasury yield slipped nearly 1 basis point to 1.828 percent, the super-long 30-year bond yield suffered nearly 1-1/2 basis points to 2.318 percent while the yield on the short-term 2-year traded flat at 1.641 percent.
UK: The United Kingdom’s gilts gained during European trading hours Wednesday ahead of the country’s manufacturing PMI for the month of October amid ongoing Brexit hassles and extension of divorce deadline to January 31, 2020. The yield on the benchmark 10-year gilts, slipped 1 basis point to 0.698 percent, the 30-year yield suffered nearly 2 basis points to 1.222 percent and the yield on the short-term 2-year also edged nearly 1-1/2 basis points down to 0.530 percent.
EUR: The German bunds remained nearly flat during European session Wednesday after the country’s unemployment change for the month of October disappointed market sentiments, while the jobless rate remained unchanged. Investors will be eyeing Germany’s retail sales for the month of September and eurozone’s consumer price inflation (CPI) for the similar period, both scheduled to be released on October 31 by 10:00GMT for added information in the debt market. The German 10-year bond yield, which moves inversely to its price, slumped 2-1/2 basis points to -0.353 percent, the yield on 30-year note also plummeted 3-1/2 basis points to 0.142 percent and the yield on short-term 2-year suffered 1-1/2 basis points down at -0.661 percent.
JGBs: The Japanese government bonds surged at close Wednesday as investors await the country’s industrial production data for the month of September, scheduled to be released today by 23:50GMT and the Bank of Japan’s (BoJ) monetary policy meeting, due to be held on October 31 for further direction to the debt market. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, suffered 6 basis points to -0.117 percent, the yield on the long-term 30-year slumped 2 basis points to 0.404 percent and the yield on short-term 2-year suffered 9 basis points to -0.216 percent.
AUS: The Australian government bonds jumped during Asian session Wednesday after the country’s consumer price inflation (CPI) for the third quarter of this year rose lower than prior reading in Q2, however, meeting market expectations. Further, the Q3 producer price inflation (PPI), due for release on November 1 by 00:30GMGT, will add further direction to the debt market. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged nearly 4 basis points to 1.140 percent, the yield on the long-term 30-year bond also plummeted 4 basis points to 1.716 percent and the yield on short-term 2-year traded nearly 1-1/2 basis points down at 0.821 percent.