Europe Roundup: Sterling steadies below 1.3000 on upbeat UK manufacturing PMI, greenback near 2-week trough ahead of U.S. nonfarm payroll report, European shares surge - Friday, November 1st, 2019
Europe Roundup: Sterling consolidates as PM Johnson begins election battle, euro rebounds on upbeat economic data, European shares nudge lower - Wednesday, November 6th, 2019
America’s Roundup: Dollar buoyed by U.S.-China tariffs pledge, Wall Street little changed, Oil falls amid doubts over US-China trade deal-November 9th,2019
Asia Roundup: Aussie at 1-month low on downbeat employment data, dollar eases against yen amid renewed U.S.-China trade deal concerns, Asian shares slump - Thursday, November 14th, 2019
America’s Roundup: Dollar dips as Fed rate cut weakens greenback, Wall Street ends lower,Gold gains 1%,Oil prices decline on U.S. pipe disruptions, weak Chinese data-November 1st,2019
Asia Roundup: Aussie falls in early Asia as retail sales data misses expectations, Asian markets noticeably up, gold trades flat at $1,511 mark - Monday, November 04, 2019
Europe Roundup: Sterling gains as no-deal Brexit chances ease, euro steadies near 1-month low as Euro zone industry output rises, European shares off 4-month peak - Wednesday, November 13th, 2019
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
Europe Roundup: Sterling consolidates near 1-week low ahead of BoE policy meeting outcome, euro rebounds on ECB's EZ growth forecast, gold tumbles as U.S.-China trade deal hopes revive- Thursday, November 7th, 2019
America’s Roundup: Dollar little changed after Trump speech reveals little on trade, Gold prices dip, Oil prices dip-November 13th,2019
Asia Roundup: Antipodeans tumble on soft Chinese trade figures, dollar near 5-month peak against yen amid renewed hopes of U.S.-China trade deal, Asian shares off 6-month high - Friday, November 8th, 2019
Asia Roundup: Kiwi halts 5-day losing streak ahead of RBNZ policy meeting, dollar eases against yen amid persisting U.S.-China trade deal concerns, Asian shares plunge - Monday, November 11th, 2019
Europe Roundup: Euro eases on political uncertainties, greenback rallies amid U.S. China trade deal hopes, European shares nudge higher - Tuesday, November 5th, 2019
Asia Roundup: Aussie rebounds as business conditions improve, gold consolidates ahead of U.S. President Trump speech, Asian shares plunge - Tuesday, November 12th, 2019
Asia Roundup: Aussie steadies as RBA stands pat, dollar rallies against yen on U.S.-China trade deal hopes, Asian shares at 4-month peak - Tuesday, November 5th, 2019
Europe Roundup: Sterling off 5-month highs as investors await Brexit talks, euro tumbles as EZ inflation eases more than expected, markets eye U.S. retail sales - October 16th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index slumped to multi-week lows as escalating trade tariffs from China and the United States over the recent months has forced central banks to start cutting interest rates as global growth expectations weakened. The greenback against a basket of currencies traded down at 98.17, having touched a low of 98.30 earlier, its lowest since September 20.
EUR/USD: The euro declined after data showed Eurozone inflation dropped to its slowest pace in nearly three years in September, more than previously estimated. The European currency traded down at 1.1028, having touched a high of 1.1062 on Friday, its highest since September 20. Immediate resistance is located at 1.1059 (78.6% retracement of 1.1109 and 1.0879), a break above targets 1.1084. On the downside, support is seen at 1.1013 (5-DMA), a break below could drag it below 1.0989 (10-DMA).
USD/JPY: The dollar plunged, halting a 5-day rally amid concerns that elevated trade tensions between Washington and Beijing will continue to weigh on the global growth outlook. Beijing criticized new U.S. legislation after the U.S. House of Representatives passed four pieces of legislation taking a hard line on China. The major was trading 0.1 percent down at 108.70 having hit a high of 108.89 on Tuesday, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, business inventories, housing market index and Fed officials' speeches. Immediate resistance is located at 108.99 (July 31 High), a break above targets 109.31 (August 1 High). On the downside, support is seen at 108.22 (5-DMA), a break below could take it near at 107.64 (10-DMA)
GBP/USD: Sterling slumped from a near 5-month peak after Irish Prime Minister Leo Varadkar stated that there are still issues to be resolved in Brexit negotiations. The major traded 0.4 percent down at 1.2732, having hit a high of 1.2801 on Tuesday, it’s highest since May 21. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2826, a break above could take it near 1.2865. On the downside, support is seen at 1.2633 (5-DMA), a break below targets 1.2605. Against the euro, the pound was trading 0.3 percent down at 86.41 pence, having hit a high of 86.24 earlier, it’s highest since May 13
USD/CHF: The Swiss franc rose, retreating from an over 1-week low as uncertainty over the outcome of Brexit negotiations undermined investor risk sentiment. The major trades 0.1 percent down at 0.9980, having touched a high of 0.9995 the day before, it’s highest since October 4. On the higher side, near-term resistance is around 1.0012 and any break above will take the pair to the next level till 1.0037. The near-term support is around 0.9924, and any close below that level will drag it till 0.9885.
European shares slumped as uncertainty over the outcome of London’s last-ditch Brexit talks with Brussels weakened investor sentiment.
The pan-European STOXX 600 index tumbled 0.3 percent at 393.71 points, while the FTSEurofirst 300 declined 0.05 percent to 1,543.90 points.
Britain's FTSE 100 trades 0.2 percent down at 7,196.33 points, while mid-cap FTSE 250 eased 0.9 to 20,015.10 points.
Germany's DAX rose 0.2 percent at 12,659.18 points; France's CAC 40 trades 0.05 percent lower at 5,699.48 points.
Crude oil prices declined, weighed down by concerns about weaker demand for fuel due to slower economic growth and forecasts of a further rise in U.S. crude inventories. International benchmark Brent crude was trading 0.4 percent down at $58.61 per barrel by 1038 GMT, having hit a high of $60.66 on Friday, its highest since September 30. U.S. West Texas Intermediate was trading 0.1 percent lower at $52.85 a barrel, after rising as high as $54.91 on Friday, its highest since September 30.
Gold prices steadied after tumbling nearly 1 percent in the previous session, amid uncertainties surrounding Britain’s negotiations to leave the European Union. Spot gold was trading 0.1 percent up at $1,482.80 per ounce by 1042 GMT, having touched a low of $1,473.88 on Friday, its lowest since October 1. U.S. gold futures were 0.2 percent higher at $1,486.90 per ounce.
The U.S. Treasuries surged during the afternoon session ahead of the country’s retail sales for the month of September, scheduled to be released today by 12:30GMT. Also, Chicago Fed President Evans and FOMC member Brainard are scheduled to deliver their respective speeches today at 13:00GMT and 19:00GMT. The yield on the benchmark 10-year Treasury yield plunged 3-1/2 basis points to 1.734 percent, the super-long 30-year bond yield fell 1-1/2 basis points to 2.215 percent and the yield on the short-term 2-year plummeted 2-1/2 basis points to 1.598 percent.
The United Kingdom’s gilts jumped during European trading hours after the country’s consumer price inflation (CPI) for the month of September came in lower than market expectations, albeit remaining unchanged from that in August, while still eyeing the Bank of England (BoE) Governor Mark Carney’s speech, scheduled to be delivered today by 13:00GMT. The yield on the benchmark 10-year gilts, plunged 4 basis points to 0.653 percent, the 30-year yield slumped 2 basis points to 1.133 percent and the yield on the short-term 2-year plummeted 3-1/2 basis points to 0.499 percent.
The German bunds remained flat during European session after the eurozone’s consumer price inflation (CPI) for the month of September, slipped slightly, falling short of market expectations as well. Also, eurozone’s trade balance remained subdued for the similar period, but failed to create any major economic impact on the debt market. The German 10-year bond yield, which move inversely to its price, hovered around -0.425 percent, the yield on 30-year note also remained flat at 0.079 percent and the yield on short-term 2-year remained tad down at -0.692 percent.
The Australian government bonds suffered during Asian trading session tracking a similar movement in the United States’ Treasuries after hopes arose of a successful Brexit deal soon amid a calmer trade talk situation between the U.S. and China. However, investors shall keep a close eye on Australia’s labour market report for the month of September, scheduled to be released on October 17 by 00:30GMT, for further direction in the debt market. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 3-1/2 basis points to 1.048 percent, the yield on the long-term 30-year bond surged nearly 4 basis points to 1.636 percent and the yield on short-term 2-year traded nearly 2 basis points higher at 0.722 percent.