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
Asia Roundup: Dollar steadies as Hong Kong tensions weigh, euro rallies on massive EU stimulus plan, Asian shares trim gains - Thursday, May 28th, 2020
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
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: Euro gains before Trump's press conference on China, European shares dips, Gold up, Oil falls but remains set for biggest monthly gain in years-May 29th,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
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
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 Hong Kong unrest, dollar rallies against yen amid hopes of economic recovery, investors eye ECB Lagarde’s speech - Wednesday, May 27th, 2020
America’s Roundup: Dollar treads water against euro, Wall Street gains, Gold dips to two-week low, Oil falls on demand concerns, U.S.-China tensions-May 28th,2020
Asia Roundup: Aussie eases folloeing RBA Lowe's comments, greenback steadies on FOMC minutes, investors eye EZ Markit PMI's - Thursday, May 21st, 2020
Asia Roundup: Aussie gains as lockdowns ease, greenback halts 3-day rally on dismal U.S. data, Asian shares nudge higher - Monday, May 18th, 2020
Europe Roundup: Euro rise as investors focus on turns EU recovery plan, European shares edge higher, Gold dips to two-week low, Oil falls on U.S.-China tensions over Hong Kong-May 27th,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
Asia Roundup: Aussie rallies following RBA minutes, dollar gains against yen on vaccine hopes, Asian shares surge - Tuesday, May 19th, 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
Europe Roundup: Sterling gains as no-deal Brexit fears ease, euro at 1-week peak as new Italian coalition government unveils cabinet, European shares surge - Thursday, September 5th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index plunged to a 1-week low, as the U.S. Treasury yield curve was at its steepest in two weeks as two-year yields hit their lowest since September 2017. The greenback against a basket of currencies traded 0.2 percent down at 98.16, having touched a low of 98.14 earlier, its lowest since August 28.
EUR/USD: The euro surged to a 1-week peak, as Italian Prime Minister Giuseppe Conte unveiled a new cabinet that united the anti-establishment 5-Star Movement and the centre-left Democratic Party, easing political tensions. The European currency traded 0.3 percent up at 1.1065, having touched a low of 1.0925 on Tuesday, its lowest since May 2017. Immediate resistance is located at 1.1072 (61.8% retracement of 1.1163 and 1.0925), a break above targets 1.1112 (78.6% retracement). On the downside, support is seen at 1.1003 (5-DMA), a break below could drag it below 1.0963 (August 30 High).
USD/JPY: The dollar rallied to a 3-day peak, as risk appetite improved on news that Hong Kong leader Carrie Lam was withdrawing an extradition bill that triggered months of violent protests. The major was trading 0.3 percent up at 106.55, having hit a high of 106.75 earlier, its highest since August 15. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. ADP employment change, unemployment benefit claims, factory orders and service PMI from both Markit and ISM. Immediate resistance is located at 106.97 (August 13 High), a break above targets 107.56 (August 2 High). On the downside, support is seen at 105.73 (September 3 Low), a break below could take it lower at 105.26 (August 9 Low).
GBP/USD: Sterling advanced to a 1-month peak after lawmakers voted to force Prime Minister Johnson to seek a three-month delay to Brexit if he failed to secure a transition agreement with the European Union. The major traded 0.7 percent up at 1.2339, having hit a high of 1.2353 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 1.2383 (July 29 High), a break above could take it near 1.2456 (July 17 High). On the downside, support is seen at 1.2197 (10-DMA), a break below targets 1.2139 (August 30 Low). Against the euro, the pound was trading 0.4 percent down at 89.66 pence, having hit a high of 89.50 earlier, it’s highest since July 26.
USD/CHF: The Swiss franc retreated from a 1-week peak, as risk sentiment improved after global political worries eased with what markets perceived as positive news in Hong Kong, Italy and Britain. The major trades 0.2 percent up at 0.9822, having touched a high of 0.9929 on Tuesday, it’s highest since August 1. On the higher side, near-term resistance is around 0.9875 (August 29High) and any break above will take the pair to next level till 0.9949 (July 31 High). The near-term support is around 0.9775 (August 27 High), and any close below that level will drag it till 0.9737 (August 8 Low).
European shares surged to 1-month highs after China said it would hold trade talks with the United States, raising hopes that both the economies will make progress on the trade dispute.
The pan-European STOXX 600 index rallied 0.6 percent at 385.45 points, while the FTSEurofirst 300 surged 0.5 percent to 1,516.54 points.
Britain's FTSE 100 trades 0.6 percent down at 7,264.44 points, while mid-cap FTSE 250 eased 0.1 to 19,594.70 points.
Germany's DAX rose 0.8 percent at 12,116.68 points; France's CAC 40 trades 0.9 percent higher at 5,583.87 points.
Crude oil prices surged as hopes of progress in resolving the U.S.-China trade row boosted investor sentiment, although a report showing U.S. crude inventories increased unexpectedly weighed on prices. International benchmark Brent crude was trading 0.4 percent higher at $60.68 per barrel by 1122 GMT, having hit a high of $61.14 earlier, its highest since August 29. U.S. West Texas Intermediate was trading 0.1 percent up at $56.02 a barrel, after rising as high as $56.62 earlier, its highest since August 30.
Gold prices declined as investors booked profits after the safe-haven metal rallied to a 6-year peak in the previous session. Spot gold eased 0.7 percent to $1,541.61 per ounce by 1125 GMT, having touched a high of $1,556.88 on Wednesday, its highest since April 2013. U.S. gold futures dropped 0.7 percent to $1,549.70 per ounce.
The eurozone bond yields inched higher as investors cheered signs of progress in resolving the U.S.-China trade war. The 10-year German Bund rose more than 1 basis point to -0.66 percent, away from the record lows of -0.743 percent touched on Tuesday. The 10-year Italian yield was unchanged at 0.826 percent, close to the record low of 0.803 percent. The 30-year Italian bond yields were little moved in early trade.
The yield on Japan’s benchmark 10-year note, which moves inversely to its price, fell to at -0.265 percent down from August high of -0.130 percent, the yield on the long-term 30-year bond hovered at 0.140 percent while the yield on short-term 2-year traded at -0.287 percent.
The Australian government bonds slumped as a mild easing in geopolitical tensions improved risk appetite, pushing the benchmark 10-year yield to a month high. However, the country’s underlying momentum in the economy remains weak, which would further drag down the bond yields. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, edged 4-1/2 basis points higher to 0.969 percent, the yield on the long-term 30-year bond also rose 4 basis points to 1.563 percent while the yield on short-term 2-year climbed 3-1/2 basis points to 0.805 percent.