America’s Roundup: U.S. dollar rises as surge in coronavirus cases boosts haven bid,Wall Street falls, Gold slides, Oil settles lower on rise in U.S. coronavirus cases-June 27th,2020
America’s Roundup: Dollar gains on coronavirus, tariff concerns, Wall Street ends lower, Gold retreats from an over 7-1/2 year high, Oil dives over 5% as U.S. crude stocks hit record, COVID cases mount-June 25th 2020
America’s Roundup: Dollar little changed against Japanese yen as virus fears counter gains, Wall Street gains, Gold edges higher, Oil steady as hopeful economic data face spike in virus cases-July 7th,2020
Europe Roundup: Euro rises on upbeat Euro zone retail sales data, European shares gain, Gold ticks higher, Oil mixed on tighter supply, surge in U.S. virus cases-July 6th,2020
Europe Roundup: Euro dips on fears of pandemic wave, European stocks rebound, Gold steadies, Oil slips towards $40 on record U.S. inventories, COVID fears-June 25th,2020
Asia Roundup: Japanese yen gains as China passes national security law, dollar steadies as investors eye U.S. manufacturing PMI, Asian shares nudge higher - Wednesday, July 1st, 2020
Asia Roundup: Euro eases following ECB Knot's comments, yen rallies as resurgent virus threatens global economic recovery, Asian shares consolidate - Friday, June 26th, 2020
Europe Roundup: Sterling heads for first weekly win against dollar, European stocks dips, Gold holds steady, Oil falls below $43 on virus fears, still heads for weekly gain-July 3rd 2020
Asia Roundup: Yen rallies as rising coronavirus cases threaten economic reopening, investors eye German CPI data - Monday, June 29th, 2020
Asia Roundup: Aussie at 1-week peak on Trump's assurance over U.S.-China trade pact, dollar gains as traders speculate pandemic recovery, Asian shares rebound - Tuesday, June 23rd, 2020
Europe Roundup: Euro dips as coronavirus surge unnerves investors European stocks dips, Gold soars towards 8-year high, Oil falls on rising stocks, worries of new virus wave-June 24th,2020
Europe Roundup: Euro dips lower against dollar as markets balanced hopes for a global economic recovery, European stocks dips,Gold hits 8-year peak.Oil rises on manufacturing data, U.S. inventories-July 1st 2020
Europe Roundup: Euro dips as grim data keeps euro under pressure, European shares edge lower, Gold hovers close eight years high, Oil prices drop on prospect of returning Libyan supplies-June 30th,2020
America’s Roundup: Dollar stumbles as jump in coronavirus cases dented the economic outlook, Wall Street ends higher, Gold hits highest since October 2012, Oil flat, near highest since March, after Trump assurance on China trade-June 24th,2020
Asia Roundup: Euro eases on fresh trade tensions, greenback steadies as coronavirus surge drives cash hunt, Asian shares plunge amid holiday-thinned trading - Thursday, June 25th, 2020
America’s Roundup: Dollar turns higher as focus turns to surging coronavirus cases, Wall Street jumps, Gold gains, Oil up more than 2% on U.S. jobs data but virus fears cap gains-July 3rd 2020
Europe Roundup: Sterling eases on downbeat labour data, euro slumps following ECB Coeure's comments, investors eye Trump's trade speech - Tuesday, November 12th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged as investors await U.S. President Donald Trump’s speech to the Economic Club of New York for hints about the Trump administration’s long-running trade war with China, and any progress towards the “phase one” trade deal. The greenback against a basket of currencies traded 0.1 percent up at 98.35, having touched a high of 98.40 on Friday, its highest since October 16.
EUR/USD: The euro declined after European Central Bank board member Benoit Coeure stated that bank in the eurozone are taking advantage of the ECB's multi-tier deposit and excess liquidity is already being traded across borders. The European currency traded 0.1 percent down at 1.1020, having touched a low of 1.1016 on Monday, its lowest since October 15. Immediate resistance is located at 1.1048 (5-DMA), a break above targets 1.1062. On the downside, support is seen at 1.1012, a break below could drag it below 1.0985.
USD/JPY: The dollar rose, halting a 2-day losing streak as traders grew optimistic ahead of a speech by U.S. President Donald Trump, during which he is expected to again postpone imposing tariffs on Chinese products. The major was trading 0.1 percent up at 109.20, having hit a high of 109.48 on Thursday, its highest since May 31. Investors’ will continue to track the broad-based market sentiment, ahead of the Fed officials' speeches. Immediate resistance is located at 109.62 (May 31 High), a break above targets 109.92 (May 30 High). On the downside, support is seen at 108.81 (10-DMA), a break below could take it near at 108.49.
GBP/USD: Sterling eased from a near 1-week peak after data showed Britain’s employers cut the most jobs in over four years between July and September, highlighting how the labor market is slowing, just as an election nears. UK's number of people in employment fell by 58,000 to 32.753 million, while the unemployment rate fell back to 3.8 percent, its lowest level since early 1975 during the third quarter. The major traded 0.2 percent down at 1.2825, having hit a high of 1.2897 on Monday, it’s highest since November 5. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2917, a break above could take it near 1.2972 (November 1 High). On the downside, support is seen at 1.2794, a break below targets 1.2768. Against the euro, the pound was trading 0.1 percent down at 85.89 pence, having hit a high of 85.57 on Monday, it’s highest since May 8.
USD/CHF: The Swiss franc eased, reversing most of its previous session gains on hopes that U.S. President Donald Trump may signal progress on trade talks with China in a speech later in the day. The major trades at 0.3 percent up at 0.9961, having touched a high of 0.9978 on Friday, it’s highest since October 16. On the higher side, near-term resistance is around 0.9983 and any break above will take the pair to the next level till 1.0007. The near-term support is around 0.9915, and any close below that level will drag it till 0.9900.
European shares gained as investors awaited a speech by U.S. President Donald Trump that could offer clues about a trade deal with China.
The pan-European STOXX 600 index rallied 0.2 percent at 406.24 points, while the FTSEurofirst 300 surged 0.3 percent to 1,592.62 points.
Britain's FTSE 100 trades 0.4 percent up at 7,355.18 points, while mid-cap FTSE 250 declined 0.05 to 20,396.04 points.
Germany's DAX rose 0.5 percent at 13,257.97 points; France's CAC 40 trades 0.3 percent higher at 5,911.44 points.
Crude oil prices surged, reversing previous session losses on hopes that U.S. President Donald Trump may signal progress on trade talks with China in a speech later in the day. International benchmark Brent crude was trading 0.6 percent up at $62.63 per barrel by 1048 GMT, having hit a low of $60.65 on Friday, its lowest since November 1. U.S. West Texas Intermediate was trading 0.5 percent up at $57.17 a barrel, after falling as low as $55.74 on Friday, its lowest since November 1.
Gold prices declined, hovering towards a near 3-month low hit in the previous session ahead of U.S. President Donald Trump’s speech at the Economic Club of New York with investors hoping for positive commentary around China trade talks. Spot gold eased 0.1 percent to $1,454.51 per ounce at 1052 GMT, having touched a low of $1,448.13 on Monday, its lowest August 5. U.S. gold futures were down 0.4 percent at $1,451.40 per ounce.
The U.S. Treasuries remained flat during the afternoon session amid a muted trading day that witnessed data of little economic significance. However, speeches by Federal Open Market Committee (FOMC) members Harker and Kashkari, due to be delivered today at 18:00GMT and 23:00GMT respectively, shall provide further direction into the debt market. The yield on the benchmark 10-year Treasury yield flat at 1.933 percent, the super-long 30-year bond yield hovered around 2.407 percent and the yield on the short-term 2-year traded tad higher.
The United Kingdom’s gilts remained nearly flat during European trading hours after the country’s labour market report for the month of September remained mixed. However, Britain’s consumer price inflation (CPI) for the month of October, scheduled to be released on November 13 by 09:30GMT, shall add further direction in the labour market. The yield on the benchmark 10-year gilts, hovered around 0.808 percent, the 30-year yield rose 1 basis point to 1.331 percent while the yield on the short-term 2-year traded tad 1 basis point down at 0.561 percent.
The German bunds remained narrowly mixed during European trading session after an improvement in the country’s ZEW economic sentiment data for the month of November failed to create any significant impact on debt markets. The country’s gross domestic product (GDP) for the third quarter of this year, due to be released on November 14 by 07:00GMT, will provide further insight into the debt market. The German 10-year bond yield, which move inversely to its price, traded flat at -0.242 percent, the yield on 30-year note gained 1-1/2 basis points to 0.272 percent and the yield on short-term 2-year slipped 1-1/2 basis points to -0.633 percent.
The Australian government bonds jumped during Asian session of the second trading day of the week amid a muted day that witnessed data of little economic significance ahead of the country’s employment report for the month of October, scheduled to be released on November 14 by 00:30GMT. Also, the ongoing U.S.-China trade talks remain a concern, sometimes echoing optimism, while igniting uncertainties rest of the time. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slumped 2 basis points to 1.276 percent, the yield on the long-term 30-year bond plunged 2-1/2 basis points to 1.877 percent and the yield on short-term 2-year suffered 2 basis points at 0.859 percent.