Europe Roundup: Euro as German survey fuels optimism, European shares rise, Gold dips, Oil falls as U.S.-China tensions take toll-May 25th,2020
Europe Roundup: Euro gains against dollar ahead of Federal Reserve Chairman Jerome Powell’s speech, European shares slide, Gold steady, Oil holds near $30, caught between demand loss and supply cuts-May 13th,2020
America’s Roundup: Dollar struggles as rising oil prices lift commodity currencies, Wall Street jumps, Gold eases off highs, Oil jumps to two-month high on easing lockdowns, positive vaccine results-May 19th 2020
America’s Roundup: Dollar climbs to 3-week peak, Wall Street drops, Gold jumps to 3-week high, Oil prices rise on dip in U.S. crude stockpiles and IEA data-May 15th,2020
America’s Roundup: Dollar climbs as U.S.-China tensions lift greenback, Wall Street ends mixed, Gold firms, Oil drops 4% on China-U.S. tensions, energy demand doubts-May 23rd 2020
Americas’ Roundup: Dollar trades in narrow range as four-day euro rally fizzles, Wall Street ends lower, Brent at highest since March on U.S. stock draw, recovering demand-May 22nd 2020
Europe Roundup: Sterling tumbles on record-low retail data, trade tensions, European shares dip, Gold gains, Oil prices drop as China-U.S. tensions grow –May 22nd 2020
Europe Roundup: Euro gains as dollar rally pauses, European shares edged higher, Gold gains, Oil prices up after Saudi pledge on cuts eases some glut fears-May 12th,2020
Europe Roundup: Sterling stuck near 8-week lows on talk of negative rates, Brexit, European shares gain, Gold jumps by 1%,Oil rises as lockdowns ease-May 18th,2020
Europe Roundup: Euro takes a breather after four-day rising streak, European shares dips, Gold drops 1%,Oil at highest since March on lower U.S. inventories, recovering demand-May 21st 2020
America’s Roundup: Dollar weak as euro rises on Franco-German proposal for recovery fund ,Wall Street dips, Gold edges higher ,Oil dips as U.S. Senate grills Fed chair, Treasury secretary –May 20th,2020
Europe Roundup: Euro rallies on Franco-German proposal for recovery fund, European shares dips, Gold edges higher, Oil gains on signs of output cuts, improved demand-May 19th,2020
Asia Roundup: Aussie eases on worsening U.S.-China tensions, dollar rallies against yen as risk sentiment slightly improves on potential Japanese stimulus, Asian shares consolidate - Monday, May 25th, 2020
Europe Roundup: Euro advances towards two-week high against dollar, European shares inch lower, Gold rises, Oil up on lower U.S. stocks, firmer demand-May 20th,2020
Asia Roundup: Aussie hits 1-week trough as jobs plunge, greenback rallies as Powell shuns negative rates, Asian shares slump - Thursday, May 14th, 2020
Asia Roundup: Euro rallies on Franco-German proposal for recovery fund, Asian shares consolidate as vaccine hopes ease, investors eye FOMC minutes - Wednesday, May 20th, 2020
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
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rallied to a fresh over 2-year peak as investors remained on the sidelines while looking to see what expansionary policies the European Central Bank and the U.S. Federal Reserve could unveil this month. The greenback against a basket of currencies traded 0.2 percent up at 98.99, having touched a high of 99.10 earlier, its highest since May 2017.
EUR/USD: The euro plunged to its lowest levels in more than two years after data showed eurozone manufacturing activity contracted for the seventh month in August, likely supporting expectations for monetary easing from the European Central Bank next week. The European currency traded 0.2 percent down at 1.0971, having touched a low of 1.0957 earlier, its lowest since May 2017. Immediate resistance is located at 1.1010 (23.6% retracement of 1.1163 and 1.0963), a break above targets 1.1039 (38.2% retracement). On the downside, support is seen at 1.0945, a break below could drag it below 1.0900.
USD/JPY: The dollar rose against the safe-haven Japanese yen as China’s factory output unexpectedly expanded in August, compared with an official report on Saturday that showed a contraction. However, the upside appears limited amid an escalation in trade tensions between the United States and China. The major was trading 0.1 percent up at 106.34, having hit a low of 104.44 last week, its lowest since November 2016. Investors’ will continue to track the broad-based market sentiment, as the U.S. markets remain closed for the Labor Day Holiday. Immediate resistance is located at 106.73 (August 23 High), a break above targets 107.09 (August 6 High). On the downside, support is seen at 105.65 (August 28 Low), a break below could take it lower at 105.26 (August 9 Low).
GBP/USD: Sterling plunged to a 2-1/2 week low, as traders braced for a clash between the government and lawmakers opposed to Prime Minister Boris Johnson’s Brexit plans as parliament returns this week from its summer recess. The major traded 0.6 percent down at 1.2088, having hit a low of 1.2066 earlier, it’s lowest since August 15. Investors’ attention will remain on the development surrounding Brexit, amid a lack of data from the U.S. docket. Immediate resistance is located at 1.2210 (5-DMA), a break above could take it near 1.2273 (August 22 High). On the downside, support is seen at 1.2064 (August 20 Low), a break below targets 1.2014 (August 12 Low). Against the euro, the pound was trading 0.5 percent down at 90.72 pence, having hit a high of 90.16 on Tuesday, it’s highest since July 29.
USD/CHF: The Swiss franc plunged to a 1-month low, as the greenback surged after U.S. President Donald Trump said U.S. and China would still meet for talks later this month. The major trades 0.1 percent up at 0.9905, having touched a high of 0.9918 earlier, it’s highest since August 1. 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 0.9859 (August 30 Low), and any close below that level will drag it till 0.9814 (August 2 Low).
European shares surged, as surprisingly positive data from China offset a hit from the latest round of tariffs between the U.S, and China that came into effect over the weekend.
The pan-European STOXX 600 index rallied 0.6 percent at 381.87 points, while the FTSEurofirst 300 gained 0.6 percent to 1,502.35 points.
Britain's FTSE 100 trades 1.3 percent up at 7,299.96 points, while mid-cap FTSE 250 surged 0.5 to 19,493.48 points.
Germany's DAX rose 0.3 percent at 11,979.01 points; France's CAC 40 trades 0.3 percent higher at 5,496.86 points.
Crude oil prices rose despite new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude. International benchmark Brent crude was trading 0.3 percent higher at $59.04 per barrel by 1100 GMT, having hit a low of $58.46 on Friday, its lowest since August 27. U.S. West Texas Intermediate was trading 0.05 percent up at $55.03 a barrel, after falling as low as $54.53 earlier, its lowest since August 27.
Gold prices surged after the United States and China imposed new tariffs on each others’ goods although a firmer greenback limited the safe-havens upside. Spot gold was trading 0.1 percent up at $1,524.46 per ounce by 1102 GMT, having touched a low of $1,516.76 on Friday, its lowest since August 23. U.S. gold futures were up 0.1 percent at $1,531 an ounce.
Italian bond yields fell towards recent multi-year lows after Italy’s prime minister said at the weekend he was confident that he could finalise talks on a new government by Wednesday.
The Japanese government bond prices declined and their yields pulled back from multi-year lows. The benchmark 10-year JGB yield was 1 basis point higher at minus 0.270 percent after easing to a 3-year low of minus 0.290 percent on Thursday. A drop below minus 0.300 percent would take the 10-year yield to a record low. The 20-year yield rose 1.5 basis points to 0.060 percent following a descent to 0.040 percent last week, its lowest since July 2016.