Europe Roundup: Euro buoyed as investor sentiment improves, European shares gain,Gold eases, Oil prices climb as faith in supply cuts grows-May 26th,2020
Europe Roundup: Euro steady as doubts over EU recovery fund arise,European shares gains,Gold gains, Oil prices steady,awaiting confirmation of surprise U.S. inventory build-May 28th,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
Asia Roundup: Dollar slumps as markets await Trump's Hong Kong response, euro at 2-month peak ahead of EZ prelim CPI, Asian shares plunge - Friday, May 29th, 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
Asia Roundup: Dollar rallies against yen on easing of coronavirus lockdowns, Asian shares rally, investors eye U.S. consumer confidence data - Tuesday, May 26th, 2020
America’s Roundup: Dollar weak as euro rises on Franco-German proposal for recovery fund ,Wall Street dips, Gold edges higher ,Oil dips as U.S. Senate grills Fed chair, Treasury secretary –May 20th,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
Americas’ Roundup: Dollar trades in narrow range as four-day euro rally fizzles, Wall Street ends lower, Brent at highest since March on U.S. stock draw, recovering demand-May 22nd 2020
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
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
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
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
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
Asia Roundup: Aussie eases folloeing RBA Lowe's comments, greenback steadies on FOMC minutes, investors eye EZ Markit PMI's - Thursday, May 21st, 2020
America’s Roundup: Dollar weakens as euro climbs on EU common fund proposal, Wall Street climbs, Gold firms, Oil rise on recovery hopes-May 21st 2020
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.