Europe Roundup: Sterling rebounds on better-than-expected GDP, dollar tumbles as U.S.-China talks resume, European shares plunge - Thursday, October 10th, 2019
Europe Roundup: Sterling rallies as EU Barnier's comments stoke Brexit deal hopes, euro plunges as German investor sentiment deteriorates, European shares surge - Tuesday, October 15th, 2019
Asia Roundup: Kiwi eases on RBNZ rate cut expectations, dollar off highs against yen on Hong Kong worries, investors eye EZ CPI figures - Wednesday, October 16th, 2019
America’s Roundup: Dollar slips versus yen as trade tensions weigh, Wall Street dips,Gold rises, Oil falls on U.S.-China talks-Oct 9th,2019
America’s Roundup: Dollar flat after FOMC meeting minutes,Wall Street advances, Gold little changed, Oil rises on signs of warming U.S.-China tensions-Oct 10th,2019
Europe Roundup: Sterling rallies as UK-EU agree on new Brexit deal, dollar rallies against yen amid developments on U.S.-China trade talks, European shares surge - Thursday, October 17th, 2019
Asia Roundup: Yen eases as investors eye U.S.-China trade talks, greenback steadies on Fed Chair Powell's comments, Asian shares tumble - Wednesday, October 9th, 2019
Europe Roundup: Sterling at 1-week low amid prevailing no-deal Brexit fears, euro gains on better-than-expected German industrial data, European shares plunge - Tuesday, October 8th, 2019
Europe Roundup: Sterling at 3-month peak on Brexit deal hopes, dollar rallies against yen as investors eye U.S.-China trade talk outcome, European shares surge - Friday, October 11th, 2019
America's Roundup: Dollar slips as U.S. jobs-inspired rally fizzles, Wall Street rise, Gold gains, Oil settles up-October 5th,2019
Asia Roundup: Antipodeans off-highs on soft Chinese trade data, greenback rebounds on U.S.-China trade optimism, Asian shares surge - Monday, October 14th, 2019
America's Roundup: Dollar slips as data disappoints,Wall Street slips, Gold stedies,Oil rises 1% on hopes OPEC will extend supply cuts-October 17th,2019
Europe Roundup: Sterling eases on Brexit concerns, dollar gains against yen on U.S.-China trade deal hopes, European shares surge - Wednesday, October 9th, 2019
Europe Roundup: Sterling eases on persisting no-deal Brexit fears, greenback plunges amid renewed Fed rate cut expectations, investors eye U.S. nonfarm payroll report - Friday, October 4th, 2019
Asia Roundup: Aussie gains on upbeat economic data, dollar at 1-week peak against yen on trade deal hopes, investors eye UK GDP figures - Thursday, October 10th, 2019
Asia Roundup: Aussie gains on upbeat retail sales, greenback eases as soft U.S. service sector data fans recession worries, Asian shares surge - Friday, October 4th, 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
Economic Data Ahead
DXY: The dollar index rose to a 1-week peak, after falling to a 2-1/2 week low earlier in the session, ahead of monetary policy decisions by the ECB on Thursday and the U.S. Federal Reserve next week, with investors hoping for further easing amid a slowdown in global growth. The greenback against a basket of currencies traded 0.3 percent up at 98.58, having touched a low of 97.86 earlier, its lowest since August 26.
EUR/USD: The euro plunged to a 1-week low amid doubts over whether the European Central Bank will announce a fresh round of asset purchases this week. The ECB is widely expected to push interest rates even further into negative territory at Thursday’s policy meeting to boost growth and inflation. The European currency traded 0.3 percent down at 1.1014, having touched a low of 1.1013 earlier, its lowest since September 4. Immediate resistance is located at 1.1067 (21-DMA), 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 advanced to a near 6-week peak as trade tensions eased after China's finance ministry announced exemptions for 16 types of U.S. products from additional retaliatory tariffs effective Sept. 17. The major was trading 0.1 percent up at 107.68, having hit a high of 107.84 earlier, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index and wholesale inventories. Immediate resistance is located at 107.97 (July 19 High), a break above targets 108.37 (July 16 High). On the downside, support is seen at 106.99 (5-DMA), a break below could take it lower at 106.59 (10-DMA).
GBP/USD: Sterling steadied near 6-week highs as no-deal Brexit risks receded as investors assessed the chances Prime Minister Boris Johnson can strike a Brexit deal with the European Union. The major traded 0.1 percent up at 1.2352, having hit a high of 1.2384 on Monday, it’s highest since July 26. 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 1.2312 (5-DMA), a break below targets 1.2224 (10-DMA). Against the euro, the pound was trading 0.3 percent up at 89.13 pence, having hit a high of 89.04 on Monday, it’s highest since July 25.
USD/CHF: The Swiss franc slumped to a 6-week low, as risk-appetite improved, boosted by optimism that a high-level meeting of U.S. and Chinese negotiators at Washington next month can deliver a breakthrough in the trade war. The major trades 0.2 percent up at 0.9932, having touched a high of 0.9940 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 0.9875 (5-DMA), and any close below that level will drag it till 0.9813 (August 22 Low).
European shares rose to 6-week highs as China eased trade worries by saying it would exempt some U.S. goods from additional tariffs, while investors awaited the European Central Bank policy meeting.
The pan-European STOXX 600 index gained 0.7 percent at 389.18 points, while the FTSEurofirst 300 surged 0.6 percent to 1,529.74 points.
Britain's FTSE 100 trades 0.9 percent up at 7,335.30 points, while mid-cap FTSE 250 rallied 1.4 to 20,020.00 points.
Germany's DAX rose 0.8 percent at 12,367.38 points; France's CAC 40 trades 0.5 percent higher at 5,621.20 points.
Crude oil prices surged after a reported sharp decline in U.S. crude stocks and as OPEC member Iraq said the producer group will discuss whether to deepen output cuts. International benchmark Brent crude was trading 0.2 percent higher at $62.86 per barrel by 1030 GMT, having hit a high of $63.74 on Tuesday, its highest since August 1. U.S. West Texas Intermediate was trading 0.2 percent up at $57.96 a barrel, after rising as high as $58.74 on Tuesday, its highest since July 31.
Gold prices rebounded, snapping a 4-day losing streak amid expectations that the European Central Bank will roll out stimulus and cut interest rates. Spot gold was trading 0.5 percent up at $1,491.93 per ounce by 1039 GMT, having touched a low of $1,483.22 earlier, its lowest since August 13. U.S. gold futures were up 0.2 percent at $1,502.2 an ounce.
The Euro zone bond yields rose to their highest since early August amid doubts over whether the ECB will announce a fresh round of quantitative easing on Thursday. The German 10-year bond yield rose to -0.535 percent, a 1-month high, while 30-year German bond yields rose to 0.027 percent, holding in positive territory for a second day. German 10-year bond yields are 20 basis points above record lows reached a week ago.
The Japanese government bond prices fell, with Benchmark 10-year JGB futures falling 0.27 point to 154.40. The 10-year JGB yield rose 3 basis points to minus 0.200 percent, the highest since Aug. 9. The 20-year JGB yield rose 1.5 bps to 0.160 percent, while the 30-year JGB yield increased 1.5 bps to 0.290 percent. At the short end of the curve, the two-year JGB yield rose 1.5 bps to minus 0.280 percent.