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 consolidates below 1.2900 amid persisting concerns over economic outlook, euro gains on better-than-expected EZ trade surplus, European shares plunge - Friday, November 15th, 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
Asia Roundup: Kiwi at 1-week peak as RBNZ stands pat, greenback consolidates ahead of Fed Chair Powells' testimony, Asian shares tumble - Wednesday, 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
America’s Roundup: Dollar rises versus yen, as risk appetite improves, Wall Street gains, Gold eases, Oil prices gains on U.S.-China trade deal hopes-November 5th,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 eases on downbeat labour data, euro slumps following ECB Coeure's comments, investors eye Trump's trade speech - Tuesday, November 12th, 2019
America’s Roundup: Dollar steady as case for Fed's pause solidifies, Wall Street slips, Gold gains, Oil falls as U.S.-China trade deal prospects dim-November 14th,2019
America’s Roundup: Dollar little changed after Trump speech reveals little on trade, Gold prices dip, Oil prices dip-November 13th,2019
Europe Roundup: DXY pauses downside amid upbeat data and positive signals around US-China trade negotiations, Bullion halts the three-day rise, European indices set to hit fresh multi-month highs - Monday, November 4th 2019
America’s Roundup: Dollar dips as risk-off mood boosts yen, Wall Street slips, Gold rises, Oil mixed amid U.S. crude stock build-November 15th, 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: Antipodeans steady, dollar halts 5-day losing streak against yen on U.S.-China trade deal hopes, investors eye EZ inflation data - Friday, November 15th, 2019
America's Roundup: Dollar little changed as U.S.-China trade talk outcome awaited. Wall Street slids,Gold prices gain, Oil prices fall on large U.S. crude build-November 7th,2019
Europe Roundup: Sterling rallies as UK-EU agree on new Brexit deal, dollar rallies against yen amid developments on U.S.-China trade talks, European shares surge - Thursday, October 17th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index slumped as weak data cast a shadow on the outlook for the U.S. economy in the short term, keeping the door open for the Federal Reserve to cut interest rates again later this month. The greenback against a basket of currencies traded 0.3 percent down at 97.71, having touched a low of 97.50 earlier, its lowest since August 26.
EUR/USD: The euro rallied to a near 2-month peak after French central bank Governor Francois Villeroy de Galhau stated that the European Central Bank should clarify the symmetric nature of its inflation target at its upcoming policy review. The European currency traded 0.4 percent up at 1.1112, having touched a high of 1.1039 earlier, its highest since August 26. Immediate resistance is located at 1.1163, a break above targets 1.1190. On the downside, support is seen at 1.1034 (5-DMA), a break below could drag it below 1.1000.
USD/JPY: The dollar advanced to a 2-1/2 month high after China’s commerce ministry stated that China hoped to reach a phased agreement with Washington as early as possible, and make progress on cancelling tariffs on each others’ goods. The major was trading up at 108.78 having hit a high of 108.93 earlier, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. building permits, housing starts, unemployment benefit claims, industrial production, capacity utilization 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 108.48 (5-DMA), a break below could take it near at 108.02.
GBP/USD: Sterling jumped to a fresh 5-month peak after Prime Minister Boris Johnson stated that Britain and the European Union had agreed a new Brexit deal and urged lawmakers to approve it at the weekend. The major traded 0.5 percent up at 1.2889, having hit a high of 1.2989 earlier, it’s highest since May 13. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3000, a break above could take it near 1.3049. On the downside, support is seen at 1.2657, a break below targets 1.2597. Against the euro, the pound was trading 0.2 percent up at 86.23 pence, having hit a high of 85.74 earlier, it’s highest since May 8.
USD/CHF: The Swiss franc surged to a 9-day peak as the greenback plunged to multi-week lows against a basket of currencies. The major trades 0.4 percent down at 0.9914, having touched a high of 0.9995 on Tuesday, 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 0.9904, and any close below that level will drag it till 0.9885.
European shares rebounded, boosted by strong earnings from Swedish telecoms gear maker Ericsson.
The pan-European STOXX 600 index advanced 0.7 percent at 396.25 points, while the FTSEurofirst 300 rallied 0.7 percent to 1,552.52 points.
Britain's FTSE 100 trades 0.6 percent up at 7,213.39 points, while mid-cap FTSE 250 surged 0.7 to 20,320.11 points.
Germany's DAX rose 0.8 percent at 12,773.42 points; France's CAC 40 trades 0.5 percent higher at 5,726.59 points.
Crude oil prices surged after China said it hoped to reach a phased trade agreement with the United States as early as possible, although the upside appears limited as industry data showed a larger-than-expected build-up in the U.S. inventories. International benchmark Brent crude was trading 0.4 percent up at $59.27 per barrel by 1017 GMT, having hit a high of $60.66 on Friday, its highest since September 30. U.S. West Texas Intermediate was trading 0.3 percent higher at $53.11 a barrel, after rising as high as $54.91 on Friday, its highest since September 30.
Gold prices eased as risk sentiment improved amid developments on the U.S.-China trade war front and Brexit negotiations. Spot gold was trading 0.3 percent down at $1,485.43 per ounce by 1019 GMT, having touched a low of $1,473.88 on Friday, its lowest since October 1. U.S. gold futures also slipped 0.1 percent to $1,492.
The U.S. Treasuries suffered during the afternoon session ahead of the country’s industrial production, housing starts and building permits data for the month of September, as well as the October Philly Fed survey results and usual weekly jobless claims numbers, all due for release later today. The yield on the benchmark 10-year Treasury yield jumped 4 basis points to 1.787 percent, the super-long 30-year bond yield surged 3 basis points to 2.262 percent and the yield on the short-term 2-year surged 4 basis points to 1.631 percent.
The United Kingdom’s gilts plunged during European trading hours tracking an array of optimism from market participants after Britain and the European Union reached a deal on Brexit, which further cleared the pathway to end all official ties with the latter after over 4 decades. The yield on the benchmark 10-year gilts, jumped 3 basis points to 0.746 percent, the 30-year yield surged 4 basis points to 1.228 percent and the yield on the short-term 2-year traded tad higher at 0.569 percent.
The German bunds slumped during European session after investor sentiments improved, following a draft Brexit deal that could actually smoothen the road for Britain to finally break all ties with the European Union. The German 10-year bond yield, which move inversely to its price, jumped nearly 4 basis points to -0.353 percent, the yield on 30-year note also surged 4 basis points to 0.155 percent while the yield on short-term 2-year traded flat at -0.662 percent.
The Australian government bonds slumped during Asian trading session after trade tensions between the United States and China spurred disturbance amongst the market investors amid disappointment from the country’s domestic labour market report for the month of September, released early today. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 2-1/2 basis points to 1.077 percent, the yield on the long-term 30-year bond also surged nearly 2-1/2 basis points to 1.664 percent and the yield on short-term 2-year traded 2 basis points higher at 0.750 percent.