Europe Roundup: Sterling rallies above 1.2400 on Brexit deal hopes, gold set for third weekly decline, investors eye U.S. retail sales - Friday, September 13th, 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
Europe Roundup: Sterling off highs amid persisting no-deal Brexit concerns, greenback gains ahead of Fed policy meeting, oil rallies on Saudi facility attacks- Monday, September 16th, 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
Asia Roundup: Aussie slumps on weak economic data, Kiwi tumbles as NZ posts current account deficit, greenback steadies ahead of Fed policy decision - Wednesday, September 18th, 2019
Asia Roundup: Aussie at 1-month peak on upbeat home loan data, greenback halts 4-day losing streak on Fed Powell's comments, Asian shares surge - Monday, September 9th, 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
Asia Roundup: Antipodeans decline on downbeat Chinese new home prices, greenback gains ahead of Fed policy meeting, Asian shares tumble - Tuesday, September 17th, 2019
Asia Roundup: Antipodeans surge on trade optimism, euro advances after ECB cuts key rate and approves restarting bond purchases, Asian shares rally - Friday, September 13th, 2019
America’s Roundup: Dollar gains as risk sentiment improves, Wall Street ends flat, Gold dips to 2-week low, Oil gets boost as new Saudi minister commits to output cuts-September 10th,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
Europe Roundup: Sterling eases on worse-than-expected retail sales, Swiss franc rallies as SNB keeps policy steady, European shares surge - Thursday, September 19th, 2019
America’s Roundup: Dollar gains as Fed cuts rates, but easing outlook uncertain, Wall Street sinks, Gold slides 1%,Oil prices extend losses after Saudi pledge to restore lost output-September 19th,2019
Asia Roundup: Aussie slumps on dismal China PPI, greenback gains as U.S.-China trade-deal progress boosts risk appetite, investors eye UK labour report - Tuesday, September 10th, 2019
Asia Roundup: Aussie at 6-week peak amid optimism around U.S.-China trade talks, dollar gains against yen as risk appetite improves, Asian shares surge - Wednesday, September 11th, 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: Euro eases on Eurozone growth concerns, gold off 6-year peak amid improving risk sentiment, European shares surge - Thursday, August 8th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index steadied, supported by Fed Chair Jerome Powell’s comments citing the last week's rate cut as a mid-cycle adjustment to policy that dampened expectations for aggressive easing. The greenback against a basket of currencies traded flat at 97.60, having touched a low of 97.21 on Tuesday, its lowest since July 22.
EUR/USD: The euro consolidated within narrow ranges after the European Central Bank stated that prolonged uncertainty is dampening the euro zone’s growth outlook, particularly for manufactured goods. The European currency traded flat at 1.1202, having touched a high of 1.1249 on Tuesday, its highest since July 19. Immediate resistance is located at 1.1263 (July 16 High), a break above targets 1.1322 (July 2 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1133 (5-DMA).
USD/JPY: The dollar tumbled against the Japanese yen amid growing expectations for more than a quarter-point rate cut from the U.S. Federal Reserve in September. The major was trading 0.2 percent down at 106.08, having hit a low of 105.49 on Wednesday, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer credit speech. Immediate resistance is located at 106.95 (38.2% retracement of 109.31 and 105.49), a break above targets 107.40 (50% retracement). On the downside, support is seen at 105.52 (Aug. 6 Low), a break below could take it lower at 104.65 (Jan. 3 Low).
GBP/USD: Sterling held firm above a 31-month low amid persistent uncertainty surrounding Britain's exit from the European Union by the new extended deadline on October 31. The major traded 0.1 percent up at 1.2182, having hit a low of 1.2079 last week, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2253 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2305 (61.8% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading flat at 92.18 pence, having hit a low of 92.49 on Tuesday, it’s lowest since Sept 2017.
USD/CHF: The Swiss franc eased as risk-sentiment improved after resilient Chinese trade data and Beijing’s efforts to slow a slide in the value of the renminbi encouraged investors to buy riskier currencies. The major trades 0.1 percent up at 0.9761, having touched a low of 0.9692 the day before; it’s lowest since September 27. On the higher side, near-term resistance is around 0.9800 (38.2% retracement of 0.9975 and 0.9703) and any break above will take the pair to next level till 0.9834 (50% retracement). The near-term support is around 0.9700, and any close below that level will drag it till 0.9650 (Sept. 6 Low).
European shares rose, extending gains for the second straight session, as investors risk sentiment revived following a stronger-than-expected rebound in Chinese exports.
The pan-European STOXX 600 index surged 0.9 percent at 372.11 points, while the FTSEurofirst 300 gained 0.9 percent to 1,463.65 points.
Britain's FTSE 100 trades 0.2 percent up at 7,209.42 points, while mid-cap FTSE 250 rallied 0.6 to 19,056.19 points.
Germany's DAX rose 0.9 percent at 11,749.67 points; France's CAC 40 trades 1.3 percent higher at 5,336.63 points.
Crude oil prices declined, hovering towards a 7-month low as an escalation of U.S.-China trade tensions triggered concerns that a global economic slowdown would hurt crude demand. International benchmark Brent crude was trading 0.9 percent lower at $56.76 per barrel by 1042 GMT, having hit a low of $55.86 the day before, its lowest since January. U.S. West Texas Intermediate was trading 0.7 percent down at $51.95 a barrel, after falling as low as $50.51 on Wednesday, its lowest since the January.
Gold prices eased after rising above the key psychological level of $1,500 in the previous session on the back of uncertainties around U.S.-China trade war and a slew of interest rate cuts by global central banks Spot gold was trading 0.3 percent down at $1,496.57 per ounce by 1045 GMT, having touched a high of $1,510.29 on Wednesday, its highest since April 2013. U.S. gold futures were down 0.4 percent at $1,513 an ounce.
The yield on the U.S. benchmark 10-year Treasury yield recovered 15.3 basis points to 1.73 percent, the super-long 30-year bond yields jumped 14 basis points to 2.24 percent and the yield on the short-term 2-year traded 11.8 basis points higher at 1.611 percent.
The yield on the UK benchmark 10-year gilts, jumped 9 basis points to 0.513 percent, the 30-year yield rose nearly 9.2 basis points to 1.162 percent and the yield on the short-term 2-year recovered nearly 1.0 basis points to 0.469 percent.
The German 10-year bond yield, which moves inversely to its price, jumped 6.6 basis points to -0. 571 percent after hitting record low yesterday, the yield on 30-year note has shown a minor recovery of 11 basis points to 0.085 percent and the yield on short-term 2-year traded tad down at -0.85 percent.