Asia Roundup: Aussie gains on upbeat economic data, dollar eases on recovery worries, Asian shares consolidate - Wednesday, August 5th, 2020
America’s Roundup: Dollar heads for steepest monthly drop in decade, Wall Street gains, Gold rises, Oil posts monthly gains as U.S. reports record output cuts in May-August 1st,2020
Europe Roundup: Euro set for best month in a decade, European shares rebound ,Gold heads for best monthly gain since January 2012, Oil on track for monthly gain as dollar weakness supports-July 31st,2020
Asia Roundup: Aussie off 6-month peak on RBA's downbeat economic assessment, greenback steadies near multi-month lows as traders await U.S. nonfarm payrolls, Asian shares ease on U.S.-China tensions - Friday, August 7th, 2020
Asia Roundup: Sterling at 5-month peak as BoE stands pat, dollar eases as investors fret over U.S. recovery, Asian shares subdued - Thursday, August 6th, 2020
Europe Roundup: Sterling rises ahead of UK data,, European shares gain, Gold eases, Oil prices back on the rise on U.S. stimulus hopes, Iraq output cut-August 10th,2020
Asia Roundup: Aussie eases on U.S.-China tensions, greenback steadies as U.S. treasury yields resume rise, Asian shares consolidate - Monday, August 10th, 2020
Europe Roundup: Sterling rises to five-month high against dollar as BoE signals sub-zero rates not imminent, European shares dip, Gold flirts with record peak, Oil prices pull back from five-month highs as rising product stocks weigh-August 6th,2020
Europe Roundup:Euro dips on renewed U.S.-Sino tensions, jobs data eyed, European stocks flat, Gold eases, Oil slips below $45 on demand concerns, set for weekly rise-August 7th,2020
America’s Roundup: Dollar steadies from 2-year lows, Wall Street closes lower, Gold retreats from record peak,Oil falls as U.S. stimulus package faces tough talks-July 29th,2020
Asia Roundup: Dollar steadies near 2-year low as investors turn to Congress for stimulus, Asian shares surge, markets await EZ economic data - Thursday, July 30th, 2020
Asia Roundup: Dollar steadies across the board on U.S. stimulus hopes, gold eases from record peak on profit taking, Asian shares nudge higher - Tuesday, July 28th, 2020
Europe Roundup: Euro's advance slows as risk sentiment falters, European shares slip,Gold retreats more than 1%, Oil prices slide as virus surge weighs on demand outlook-July 30th,2020
America’s Roundup: Dollar stays weak amid signs of lagging U.S. economy, Wall Street gains, Gold scales new record, Oil moves up on big crude inventory decline-August 6th,2020
Europe Roundup : Euro little changed as investors await Fed meeting, European share flat, Gold eases, Oil prices jump on U.S. inventory drop-July 29th,2020
Europe Roundup: Euro rise after positive economic indicators, European shares gains, Gold rise to new record high, Oil prices rise as U.S. crude inventories show large drop-August 5th,2020
Europe Roundup: Sterling nears three-week highs against dollar,European stocks ease from one-month highs, Gold retreats from multi-year peak, Oil down as U.S. virus spike stokes demand worries-July 7th,2020
• German May Industrial Production (MoM)7.8%,10.0% forecast, -17.9% previous
• French May Current Account -8.50B, -5.40B previous
• French May Exports 27.7B, 23.7B previous
• French May French Imports 34.7B, 28.7B previous
• French May Trade Balance -7.1B, -5.0B previous
• French June Reserve Assets Total 197,166.0M, 217,404.0M previous
• UK Halifax House Price Index (YoY) 2.5%,2.6% previous
• UK June Halifax House Price Index (MoM) -0.1%,-0.9% forecast, -0.2% previous
• Italian May Retail Sales (YoY) -10.5%,-28.6% previous
• Italian May Italian Retail Sales (MoM) 24.3%,-11.5% previous
• UK Labour Productivity (Q1) -0.6%,0.3% previous
Looking Ahead - Economic Data (GMT)
• 12:55 US Redbook (MoM) -0.7% previous
• 12:55 US Redbook (YoY) -5.7% previous
• 14:00 Canada June Ivey PMI 39.1 previous
• 14:00 US May JOLTs Job Openings 4.850M, 5.046M previous
•14:00 Canada June Ivey PMI n.s.a 42.1 previous
•15:20 New Zealand GlobalDairyTrade Price Index 1.9% previous
Looking Ahead - Economic events and other releases (GMT)
• 13:00 US FOMC Member Bostic Speaks
• 17:00 US FOMC Member Quarles Speaks
• 17:00 US FOMC Member Daly Speaks
• 18:00 US FOMC Member Barkin Speaks
EUR/USD: The euro declined against dollar on Tuesday as forecasts for a deeper-than-feared recession in the euro zone dimmed optimism post-Coronavirus pandemic. The European Commission said the 19 nation single currency area would contract by a record 8.7% this year before rising by 6.1% in 2021. In early May, the Commission had forecast a downturn of 7.7% this year and a rebound in 2021 of 6.3%. Immediate resistance can be seen at 1.1344 (July 6th high), an upside break can trigger rise towards 1.1381 (Higher BB).On the downside, immediate support is seen at 1.1297 (23.6% fib), a break below could take the pair towards 1.1260 (Daily low).
GBP/USD: Sterling held near a three-week high against the dollar on Tuesday as investors waited for more details of the government’s plans to support the British economy. Despite the pound’s gains, some investors remained cautious about the currency’s outlook. Positioning data showed hedge funds increasing their bearish bets on the British pound, as the UK and European Union try to reach a trade agreement in their Brexit negotiations. Immediate resistance can be seen at 1.2535 (38.2% fib), an upside break can trigger rise towards 1.2600 (Psychological level).On the downside, immediate support is seen at 1.2431 (14 DMA), a break below could take the pair towards 1.2412 (55 DMA).
USD/CHF: The dollar gained against the Swiss franc on Tuesday as risks from rising coronavirus cases offset strong economic data and kept a lid on confidence in an economic recovery from the COVID-19 pandemic. Following a Monday slide, the greenback was steady on most majors and clung on near a two-week low against a basket of currencies. Investors are watching nervously as infections surge in the United States and India, but are so far taking the view that more massive lockdowns are unlikely. Immediate resistance can be seen at 0.9449 (38.2% fib), an upside break can trigger rise towards 0.9469 (14 DMA).On the downside, immediate support is seen at 0.9395 (Lower BB), a break below could take the pair towards 0.9339 (23.6% fib).
USD/JPY: The dollar gained against the Japanese yen on Tuesday as yen was pressured by a rise in demand for the dollar, as investors took a breather from stocks and other riskier investments after several days of gains. A sharp rebound in U.S. services industry activity in June, almost returning to pre-pandemic levels, also helped appetite for dollar. At 1215 GMT, the dollar was 0.34 percent lower versus the Japanese yen at 107.70 Strong resistance can be seen at 107.81 (Higher BB), an upside break can trigger rise towards 108.03 (Higher BB).On the downside, immediate support is seen at 107.28 (50% fib ), a break below could take the pair towards 107.00 (Psychological level).
European shares fell on Tuesday as surging U.S. coronavirus cases and forecasts for a deeper-than-feared recession in the euro zone dimmed optimism around a post-pandemic rebound.
At (GMT 12:15),UK's benchmark FTSE 100 was last trading down at 1.35 percent, Germany's Dax was down by 1.25 percent, France’s CAC finished was down by 0.88 percent.
Gold fell on Tuesday in the face of competition from safe haven inflows into the dollar as COVID-19 cases increased globally and investors booked profits following bullion’s rally to a near eight-year peak.
Spot gold fell 0.4% to $1,776.43 per ounce by 959 GMT. It earlier touched a high of $1,786.91, $2.05 shy of Wednesday’s near eight-year peak of $1,788.96. U.S. gold futures fell 0.5% to $1,784.00 per ounce.
Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand.
Brent crude futures declined by 44 cents, or 1.02%, to $42.66, by 0935 GMT, after hitting a high of $43.19.
U.S. West Texas Intermediate (WTI) crude futures fell 53 cents, or 1.3%, to $40.10 a barrel, after a high of $40.79.
Italian 10-year government bond yields were clinging to recent three-month lows on Tuesday as traders awaited signs of progress from talks this week in Brussels on a European recovery fund.
Italian 10-year BTP yields were last trading down 1.7 basis points at 1.29%, not far from 1.25%, the three-month low they last fell to on Friday.
German 10-year Bund yields also fell by 1.5 bps to -0.448% , having touched earlier a six-day low of -0.457%.