Asia Roundup: Antipodeans gain on renewed coronavirus vaccine hopes, greenback plunges as investors await Fed meeting, Asian shares surge - Monday September 14th, 2020
Europe Roundup:Euro edges higher as investors await Fed statement, European stocks gains,Gold rises, Oil jumps above $41 as storm hits U.S. output, inventories drop-September 16th,2020
Europe Roundup:Euro dips on fading economic recovery hopes in Eurozone, European stocks slip to 3-month lows,Gold slides to two-month low, Oil falls as frail demand outlook outweighs U.S. stock drawdown-September 24th,2020
Asia Roundup: Aussie extends gains following RBA minutes, greenback steadies ahead of Fed decision, Asian shares advance - Wednesday, September 16th, 2020
America’s Roundup: Dollar falls against the yen,Wall Street ends lower,Gold rises, Oil flat as Libya developments counter OPEC+ boost-September 19th,2020
America’s Roundup: Dollar gains after Fed upgrades economic outlook, Wall Street ends mixed, Gold gains,Oil up more than 4% as U.S. stockpiles fall, hurricane hits output-September 17th,2020
America’s Roundup: Dollar index rises, yen falls against dollar ,Wall Street ends higher ,Gold slips, Oil falls on mounting COVID-19 cases, supply concerns-September 26th,2020
Europe Roundup: Euro dips as eurozone Sept business growth halts ,European stocks gain,Gold hits six-week trough, Oil edges up to $42, eyeing Libya and U.S. inventories-September 23rd,2020
America’s Roundup: Dollar dips as market recovers from weak U.S. jobs data,Wall Street drops, Gold eases, Oil prices edge up off three-month lows, but demand concerns persist-September 12th,2020
America’s Roundup: Dollar gains as risk assets tumble on rising COVID-19 cases, U.S. election uncertainty, Wall Street ends lower, Gold slides 3%, Oil falls 5% as economic outlook dims with rising virus cases-September 22nd 2020
Europe Roundup: Euro dips as Fed outlook lifts dollar ,European stocks skid lower, Gold slips, Oil steady as demand worries revive, crews return to U.S. Gulf rigs-September 17th,2020
Asia Roundup: Kiwi at over 1-year peak as FinMin Robertson rules out RBNZ’s rate change, greenback plunges on downbeat data, Asian shares edge higher - Friday, September 18, 2020
Europe Roundup: Euro gains as dollar softens ahead of Fed meeting,European stocks flat, Gold hits near 2-week high, Oil rises but bleaker demand outlook weighs-September 15th,2020
America’s Roundup: Dollar gains ground on economic concerns, Wall Street gains on stimulus hopes, Gold turns positive from 2-mth low, Oil falls on fuel demand growth concerns as coronavirus lingers-September 25th,2020
Asia Roundup: Antipodeans at multi-week lows on additional monetary easing expectations, dollar rallies amid coronavirus concerns, Asian shares plunge amid fading global recovery hopes - Thursday, September 24th, 2020
Asia Roundup: Kiwi slumps to 4-week trough as RBNZ hints at further easing, Aussie plunges as Westpac expects monetary easing by RBA, Asian shares volatile - Wednesday, September 23rd, 2020
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
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged as Fed Chair Powell’s comments and a mixed U.S. employment report firmed market expectations that the Fed would cut interest rates at its meeting later this month. The greenback against a basket of currencies traded 0.4 percent up at 98.38, having touched a low of 98.01 on Friday, its lowest since August 28.
EUR/USD: The euro rose, halting a 2-day losing streak after data showed investor morale in the eurozone improved slightly in September. However, the upside is limited as investors remained convinced the European Central Bank would introduce a new wave of monetary policy stimulus at its meeting on Thursday. The European currency traded 0.1 percent up at 1.1030, having touched a high of 1.1084 on Thursday, its highest since August 29. Immediate resistance is located at 1.1060 (August 30 High), a break above targets 1.1116 (August 27 High). On the downside, support is seen at 1.1000, a break below could drag it below 1.0963 (August 30 High).
USD/JPY: The dollar surged above the 107.00 handle, supported by comments from Federal Reserve Chair Jerome Powell that the U.S. central bank would continue to act as appropriate to sustain the economic expansion. Moreover, optimism that China would withstand the impact of trade disputes with the United States boosted the bid tone around the pair. The major was trading 0.1 percent up at 107.02, having hit a high of 107.23 on Thursday, its highest since August 2. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer credit change. Immediate resistance is located at 107.56 (August 2 High), a break above targets 108.00. On the downside, support is seen at 106.46 (5-DMA), a break below could take it lower at 105.73 (September 3 Low).
GBP/USD: Sterling rallied to an over 1-month peak after data showed Britain’s economy expanded more than expected in July, dampening fears that it will succumb to its first recession since the financial crisis as the Brexit crisis escalates. However, concerns whether the British parliament would vote to hold an early general election before the October 31 Brexit deadline limited the upside. The major traded 0.6 percent higher at 1.2365, having hit a high of 1.2383 earlier, it’s highest since July 29. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2400, a break above could take it near 1.2456 (July 17 High). On the downside, support is seen at 1.2205 (10-DMA), a break below targets 1.2139 (August 30 Low). Against the euro, the pound was trading 0.6 percent up at 89.15 pence, having hit a high of 89.08 earlier, it’s highest since July 25.
USD/CHF: The Swiss franc fell to a near 1-week low, as risk appetite improved after China’s central bank cut reserve requirements for a seventh time since early 2018, releasing liquidity to boost an economy slowed by the U.S.-China trade conflict. The major trades 0.4 percent up at 0.9913, having touched a high of 0.9917 on Friday, it’s highest since Sept. 3. On the higher side, near-term resistance is around 0.9949 (July 31 High) and any break above will take the pair to next level till 0.9975 (August 1 High). The near-term support is around 0.9860 (5-DMA), and any close below that level will drag it till 0.9813 (August 22 Low).
European shares advanced as investors pinned their hopes on expected global stimulus from the world’s central banks to support slowing growth.
The pan-European STOXX 600 index rallied 0.3 percent at 387.43 points, while the FTSEurofirst 300 surged 0.1 percent to 1,523.94 points.
Britain's FTSE 100 trades 0.5 percent down at 7,249.25 points, while mid-cap FTSE 250 fell 0.05 to 19,695.69 points.
Germany's DAX rose 0.4 percent at 12,234.08 points; France's CAC 40 trades 0.05 percent higher at 5,605.45 points.
Crude oil prices rose after Saudi Arabia named oil veteran Prince Abdulaziz bin Salman as its new energy minister, a move seen strengthening an output-cutting deal between OPEC and other producers. International benchmark Brent crude was trading 0.4 percent higher at $61.82 per barrel by 1029 GMT, having hit a high of $62.37 on Thursday, its highest since August 2. U.S. West Texas Intermediate was trading 0.4 percent up at $56.85 a barrel, after rising as high as $57.72 on Thursday, its highest since August 1.
Gold prices steadied, halting a 2-day losing streak, amid policy easing expectations by major central banks and soft economic data. Spot gold gained 0.2 percent to $1,510.03 per ounce by 1031 GMT, having touched a low of $1,502.46 on Friday, its lowest since August 23. U.S. gold futures dipped 0.1 percent to $1,514.1 an ounce.
The Longer-dated euro zone government bond yields ticked higher ahead of a policy meeting this week at the ECB. Germany’s 30-year government bond was up 4 bps to -0.07 percent, edging closer to positive territory. The 10-year benchmark was up 2 bps to -0.61percent.
The Japanese government bonds gained at close of morning Asian session after the country’s gross domestic product (GDP) for the second quarter of this year expanded less than that in the previous quarter amid hovering uncertainties over U.S.-China trade talks. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, plunged 25 basis points to -0.254 percent, the yield on the long-term 30-year hovered around 0.198 percent and the yield on short-term 2-year slumped 31 basis points to -0.312 percent.