Europe Roundup: Sterling at 3-year low on Brexit uncertainties, euro tumbles on rate outlook, investors eye U.S. ISM manufacturing PMI - Tuesday, September 3rd, 2019
America's Roundup: Dollar firms, ECB meeting in focus, Wall Street slips, Gold dips to near one-month low, Oil falls on possibility of Iran exports resuming after Trump fires hardline adviser-September 11th, 2019
Europe Roundup: Swiss franc, yen at 5-week lows as risk appetite improves, greenback gains as U.S. Treasury yields surge, sterling off 6-week peak amid persisting political uncertainty - Tuesday, September 10th, 2019
Europe Roundup: Sterling consolidates near 6-week peak, Swiss franc, yen declines as China exempts some U.S. goods from retaliatory tariffs, European shares at multi-week peak - Wednesday, September 11th, 2019
Europe Roundup: Sterling gains as no-deal Brexit fears ease, euro at 1-week peak as new Italian coalition government unveils cabinet, European shares surge - Thursday, September 5th, 2019
America's Roundup: Dollar dips after disappointing factory data, Wall Street rises,Gold steadies near multi-year peak, Oil prices rise over 4% on positive economic data from China-September 5th,2019
Asia Roundup: Aussie steadies as RBA stands pat, euro at 2-year low on ECB easing expectations, investors eye EZ producer price index - Tuesday, September 3rd, 2019
Asia Roundup: Antipodeans at 1-week peak on upbeat Chinese service data, greenback slumps as manufacturing activity contracts, Asian shares surge - Wednesday, September 4th, 2019
Europe Roundup: Sterling eases as Brexit uncertainty persists, euro steadies as investors eye ECB policy decision and Draghi’s presser, European shares off 6-week peak - Thursday, September 12th, 2019
America's Roundup: Dollar gains ahead of ECB meeting, Wall Street gains, Gold climbs, Oil prices slide 2% after report Trump weighed easing Iran sanctions-September 12th,2019
America's Roundup: Euro gains as bank relief offsets ECB stimulus, Wall Street ends mixed, Gold eases,Oil dips as demand concerns counter U.S.-China trade hopes-September 14th,2019
Europe Roundup: Sterling at 1-month peak as UK economy shows unexpected strength, euro rallies as EZ investor morale improves, European shares surge - Monday, September 9th, 2019
Asia Roundup: Euro consolidates ahead of ECB policy decision, dollar rallies against yen as trade optimism boosts risk sentiment, Asia shares at 6-week peak - Thursday, September 12th, 2019
Europe Roundup: Sterling eases as investors eye vote on early election, euro tumbles as EZ growth halves in Q2, markets await U.S. non-farm payroll report - Friday, September 6th, 2019
Europe Roundup: Sterling at 2-1/2 week trough as investors await parliament's return, euro slumps as EZ manufacturing activity contracts, greenback rallies amid holiday-thinned trading - Monday, September 2nd, 2019
Asia Roundup: Antipodeans rally as global tensions abate, greenback steadies on firm U.S. economic data, investors eye EZ Q2 GDP - Friday, September 6th, 2019
Europe Roundup: Dollar index flirting with two-week highs, upbeat data keeps Cable supported, US Oil edges above $ 55.50, Gold slips on risk recovery - Friday, August 16, 2019
Economic Data Ahead
Key Events Ahead
DXY: Dollar index hits new 2-week highs at 98.30. Technical studies suggest further gains. Upper Bollinger Band at 98.58 is next resistance. Focus on U.S Housing Starts, Building Permits and UMitch Consumer Sentiment data.
EUR/USD: EUR/USD extends weakness amid broad-based US dollar strength. Greenback bulls take back control on upbeat Dollar also boosted after Atlanta Fed raised its Q3 GDPNow forecast from 1.85 percent to 2.16 percent annualised pace. EUR/USD is extending declines for the fourth straight session. Scope for test of 1.1026 (Aug 1st low). 55-EMA is major resistance at 1.1201. Break above negates near-term bearish bias.
USD/CHF: USD/CHF spikes higher for the second straight session. The major was trading at 0.9806 at 10:00 GMT, up 0.44 percent at the time of writing. US dollar buoyed by upbeat data and improving risk sentiment adds support higher. Major trend in the pair is bearish. However, price has broken above 21-EMA and technical indicators support further gains. Next major resistance lies at 55-EMA at 0.9863. Rejection at 21-EMA will see resumption of downside.
GBP/USD: Cable extends recovery despite broad-based US dollar strength. Thursday’s UK Retail Sales keeps the Cable buoyed despite political uncertainty at home. GBP/USD was trading 0.60 percent higher at 1.2153 at 10:10 GMT. Focus now on UK Chancellor’s visit to Berlin to discuss Brexit deal. With lack of data from the UK, traders will closely observe Brexit headlines for fresh directions. Major trend is bearish. Minor recovery may extend upto 21-EMA at 1.2205. Breakout above could see further gains.
USD/JPY: USD/JPY extends recovery as risk recovery gathers pace. The major hit session highs at 106.49. Data released on Thursday showed U.S. July retail sales printed at +0.7 percent MoM beating estimates of +0.3 percent. Dollar also boosted after Atlanta Fed raised its Q3 GDPNow forecast from 1.85 percent to 2.16 percent annualised pace. Price action is holding above 5-DMA support. 21-EMA (106.86) is immediate resistance. Break above will see further gains.
European Stocks buoyed by stimulus hopes. The pan-European stock benchmark index EURO STOXX 600 was up around 1.13 percent at 368.30 at 10:40 GMT. FTSEurofirst 300 index was up 1.04 percent at 1,442.81 points.
Britain's FTSE 100 was trading 0.55 percent up at 7,106.15 points, while mid-cap FTSE 250 was up 0.33 percent at 18,701.57 points.
Germany's DAX trades 0.97 percent higher at 11,523.46 points; France's CAC 40 trades 0.98 percent up at 5,288.28 points.
US Oil pauses downside, edges above $ 55.50 as recession fears ebb. WTI was trading at $ 55.45 at 09:55 GMT.
Gold bull take a breather as risk recovery gathers pace. Spot gold was trading at $ 1,509.06 at 09:55 GMT.
Among other precious metals, silver was down 0.65 percent at 17.09 at 09:55 GMT.
U.S.: The U.S. Treasury yields recovered during Friday’s afternoon session as risk sentiments started to stabilize overnight, following comments from President Donald Trump that a call with China is scheduled around the corner concerning trade tariffs. However, uncertainties still remain as a couple of US Federal Reserve members, Kashkari and Bullard continue to indicate to the likelihood of further interest rate cuts in the country, although the latter (voter 2019) suggested that there was no urgency to take action between scheduled meetings. The yield on the benchmark 10-year Treasury yield jumped nearly 3-1/2 basis points to 1.559 percent, the super-long 30-year bond yields surged nearly 4-1/2 basis points to 2.023 percent and the yield on the short-term 2-year traded 2 basis points higher at 1.515 percent.
UK: The United Kingdom’s 2-10Y gilt yields inverted during European trading hours Friday, intrigued by the global growth concerns and uncertainties over U.S.-China trade relations, although President Trump said that he has a call scheduled “very soon” with Chinese counterpart Xi over trade. This has been further dragged lower by lower bond yields in the United States, with the 10-year benchmark briefly dropping to a three-year low below 1.50 percent yesterday. The yield on the benchmark 10-year gilts, jumped 5 basis points to 0.459 percent, the 30-year yield slipped nearly 1 basis point to 0.945 percent and the yield on the short-term 2-year surged nearly 7-1/2 basis points to 0.520 percent.
JGBs: The Japanese government bonds remained mixed on Friday amid ongoing global economic worries in a muted trading session that barely witnessed any data of esteemed economic significance. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, hovered around -0.233 percent, the yield on the long-term 30-year jumped 2 basis points to 0.182 percent and the yield on short-term 2-year slumped 27 basis points to -0.274 percent.
AUS: The Australian government bonds traded mixed in subdued Asian session on Friday as global risk appetite attempted to stabilize amid better-than-expected U.S. retail sales data. However, comments from President Donald Trump and China kept traders on their toes over trade war tensions. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, fell 1 basis point to 0.877 percent, the yield on the long-term 30-year bond also dipped 1 basis point to 1.437 percent while the yield on short-term 2-year traded nearly flat at 0.731 percent.