America's Roundup: Dollar dips as U.S.-China trade negotiations begin, Wall Street gain,Gold slips, Oil prices rise as OPEC pledges decision on supply-October 11th,2019
Asia Roundup: Antipodeans surge on mixed Chinese economic data, greenback tumbles as weak U.S. retail sales support Fed rate cut expectations, Asian shares decline - Friday, October 18th, 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 steadies near 5-month peak, euro rallies as EZ current account surplus widens, European shares plunge - Friday, October 18th, 2019
Europe Roundup: Sterling eases as no-deal Brext fears persist; Swiss franc, yen gain as trade deal optimism ebb, European shares slump - Monday, October 14th, 2019
America's Roundup: Dollar range-bound as trade optimism fades,Wall Street gains, Gold slips 1%,Oil falls on weaker economic growth forecasts-October 16th,2019
Asia Roundup: Antipodeans ease on downbeat Chinese factory prices, dollar declines against yen as U.S.-China trade deal, Brexit hopes ebb, Asian shares nudge higher - Tuesday, October 15th, 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: 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: 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
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 firms on doubts over Sino-U.S. trade talks,Wall Street falls, Gold eases, Oil prices drop –October 8th 2019
Asia Roundup: Antipodeans rally on U.S.-China trade talks hopes, greenback at multi-week lows as soft CPI figures support Fed rate cut speculation, investors eye EBC Draghi’s speech - Friday, October 11th, 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
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
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 above 1.2400 on Brexit deal hopes, gold set for third weekly decline, investors eye U.S. retail sales - Friday, September 13th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index plunged, extending previous session losses, as the U.S. Federal Reserve is widely expected to cut interest rates next week. The greenback against a basket of currencies traded 0.3 percent down at 98.03, having touched a low of 97.86 on Wednesday, its lowest since August 2
EUR/USD: The euro rose to a 2-1/2 week peak as German government bond yields surged on the back of investors thinking the European Central Bank was done stimulating the ailing eurozone economy after cutting rates on Thursday. However, the upside is limited as concerns linger about the extent to which the central bank’s stimulus can boost economic growth or stop Germany from slipping into recession. The European currency traded 0.3 percent up at 1.1100 in the prior session, having touched a high of 1.1109 earlier, its highest since August 27. Immediate resistance is located at 1.1116 (August 27 High), a break above targets 1.1153 (August 23 High). On the downside, support is seen at 1.1037 (5-DMA), a break below could drag it below 1.0963 (August 30 High).
USD/JPY: The dollar declined, halting a 4-day losing streak, as investors turned cautious after U.S. President Donald Trump stated that he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact, even as he said an easy agreement would not be possible. The major was trading 0.1 percent down at 108.10, having hit a high of 108.25 earlier, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, import and export price index and business inventories. Immediate resistance is located at 108.37 (July 16 High), a break above targets 108.75 (July 25 High). On the downside, support is seen at 107.51 (5-DMA), a break below could take it lower at 106.92 (10-DMA).
GBP/USD: Sterling rallied above the 1.2400 handle to a hit a fresh 7-week peak, amid speculations that the Democratic Unionist Party will support a mild change in Irish backstop. The major traded 1.05 percent up at 1.2458, having hit a high of 1.2475 earlier, it’s highest since July 25. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2481 (July 23 High), a break above could take it near 1.2520 (July 16 High). On the downside, support is seen at 1.2279 (September 6 Low), a break below targets 1.2252 (10-DMA). Against the euro, the pound was trading 0.6 percent at 89.13 pence, having hit a high of 88.85 on Thursday, it’s highest since June 21.
USD/CHF: The Swiss franc rose to a 1-week peak, as bigger-than-expected stimulus increased pressure on the U.S. Federal Reserve and the Bank of Japan to ease policy next week to support the world economy. The major trades 0.4 percent down at 0.9860, having touched a high of 0.9946 on Tuesday, 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 0.9842 (21-DMA), and any close below that level will drag it till 0.9813 (August 22 Low).
European shares gained as signs of progress in U.S.-China trade talks boosted investor risk sentiment.
The pan-European STOXX 600 index surged 0.2 percent at 391.06 points, while the FTSEurofirst 300 surged 0.1 percent to 1,535.84 points.
Britain's FTSE 100 trades 0.1 percent down at 7,337.58 points, while mid-cap FTSE 250 gained 0.5 to 20,054.04 points.
Germany's DAX rose 0.5 percent at 12,464.55 points; France's CAC 40 trades 0.4 percent higher at 5,665.77 points.
Crude oil declined as concern about a slowdown in the global economy and oil demand outweighed hints of progress in the U.S.-China trade dispute. International benchmark Brent crude was trading 0.5 percent lower at $60.08 per barrel by 0948 GMT, having hit a low of $58.89 on Thursday, its lowest since September 4. U.S. West Texas Intermediate was trading 0.4 percent down at $54.86 a barrel, after falling as low as $53.99 on Thursday, its lowest since September 4.
Gold prices rose as monetary easing uncertainties by major central banks supported safe-haven assets. Spot gold rose 0.5 percent to $1,506.77 per ounce by 0951 GMT, having touched a low of $1,483.22 on Wednesday, its lowest since August 13 and was down about 0.3 percent so far this week, putting it on course for a third straight weekly drop. U.S. gold futures rose 0.3 percent to $1,511.40 per ounce.
The Euro zone, German, French and Dutch 10-year bond yields all rose to six-week highs. Germany’s 10-year bond yield rose as high as -0.48 percent and was set for its biggest weekly jump since early 2018. 30-year bond yields were back in positive territory. Italy’s 10-year bond yield, which fell to a record low of 0.758 percent on Thursday, was 6 bps higher at 0.91 percent.
The Japanese government bond yields jumped across the curve, with the key 10-year yield hitting the highest level in six weeks. The 10-year JGB yield climbed 5 basis points to minus 0.165 percent, its highest since Aug. 1. In the super long zone, the 20-year yield rose 4.5 bps to 0.200 percent, while the 30-year and the 40-year yields jumped 5 bps each to six-week highs of 0.340 percent and 0.370 percent, respectively. Benchmark 10-year JGB futures fell 0.57 point to 154.07.