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
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
Asia Roundup: Aussie rallies to 4-month peak as RBA stands pat, dollar holds gains against yen as U.S. manufacturing activity rebounds from 11-year low, Asian shares advance - Tuesday, June 2nd, 2020
America’s Roundup: Dollar treads water against euro, Wall Street gains, Gold dips to two-week low, Oil falls on demand concerns, U.S.-China tensions-May 28th,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
America’s Roundup: Dollar dips as improved risk appetite, EU recovery fund hopes boost euro, Wall Street ends down, Gold gains, Oil rises as higher U.S. refinery rates offsets surprise crude build-May 29th,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
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
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: Aussie eases as Beijing readies new security law, dollar plunges against yen on rising U.S.-China tension, Asian shares slump - Friday, May 22nd, 2020
America’s Roundup: Dollar falls as other economies enter recovery, Wall Street ends higher, Gold slumps 2%,Oil moves higher, hovers below $40 as doubts emerge over next step on OPEC cuts-June 4th,2020
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 gains for the seventh day against dollar ,European shares rise, Gold dips, Oil tops $40 on OPEC cuts and demand recovery-June 3rd 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
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: 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
Europe Roundup: Sterling rebounds on better-than-expected GDP, dollar tumbles as U.S.-China talks resume, European shares plunge - Thursday, October 10th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index plunged to a 1-week low as the 10-year Treasuries yield dipped to one basis point to 1.577 percent, while U.S.-China trade talks resumed. The greenback against a basket of currencies traded 0.4 percent down at 98.75, having touched a low of 98.66 earlier, its lowest since October 3.
EUR/USD: The euro rallied to a near 3-week peak after the Financial Times reported that the ECB had restarted its bond-buying programme last month despite objections of its own officials. The European currency traded 0.6 percent up at 1.1031, having touched a high of 1.1033 earlier, 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 1.1087. On the downside, support is seen at 1.0948 (10-DMA), a break below could drag it below 1.0904.
USD/JPY: The dollar declined after rising to a 1-week peak earlier in the day, following contradictory reports about U.S.-China trade talks. The major was trading 0.1 percent down at 107.40, having hit a high of 107.77 earlier, its highest since October 2. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims, consumer price index, Fed official's speeches. Immediate resistance is located at 107.88 (September 25 High), a break above targets 108.25 (September 13 High). On the downside, support is seen at 106.96 (September 24 Low), a break below could take it near at 106.62 (September 6 Low).
GBP/USD: Sterling rebounded from recent lows on data that showed Britain’s economy likely dodged recession in the run-up to its deadline for leaving the European Union this month. The economy's gross domestic product in the three months to August was 0.3 percent higher than in the previous three months, beating all forecasts and accelerating from an upwardly revised 0.1 percent in the three months to July. Investors now await a meeting between the British and Irish leaders just three weeks before Britain is due to leave the European Union. The major traded 0.3 percent up at 1.2248, having hit a low of 1.2195 on Tuesday, it’s lowest since September 4. Immediate resistance is located at 1.2285 (10-DMA), a break above could take it near 1.2364 (21-DMA). On the downside, support is seen at 1.2154 (August 28 Low), a break below targets 1.2108 (August 22 Low). Against the euro, the pound was trading 0.2percent down at 89.80 pence, having hit a low of 90.10 earlier, it’s lowest since Sept. 9.
USD/CHF: The Swiss franc gained, reversing most of its previous session losses, as fading prospects of a partial trade deal between China and the United States weakened investor risk sentiment. The major trades 0.3 percent down at 0.9930, having touched a low of 0.9904 on Tuesday, it’s lowest since September 30. On the higher side, near-term resistance is around 0.9987 and any break above will take the pair to next level till 1.0027. The near-term support is around 0.9897, and any close below that level will drag it till 0.9865.
European shares declined, weighed down by losses in healthcare companies, U.S.-China trade war and uncertainty over Brexit.
The pan-European STOXX 600 index fell 0.2 percent at 379.58 points, while the FTSEurofirst 300 declined 0.2 percent to 1,494.11 points.
Britain's FTSE 100 trades 0.2 percent down at 7,154.69 points, while mid-cap FTSE 250 eased 0.4 to 19,091.78 points.
Germany's DAX rose 0.05 percent at 12,099.05 points; France's CAC 40 trades 0.3 percent higher at 5,516.85 points.
Crude oil prices consolidated as the U.S.-China trade war continued to cloud prospects for the global economy and fuel demand despite a resumption in talks seeking a resolution to the 15-month conflict. International benchmark Brent crude was trading 0.3 percent up at $58.39 per barrel by 1115 GMT, having hit a low of $57.13 last week, its lowest since August 7. U.S. West Texas Intermediate was trading 0.3 percent higher at $52.71 a barrel, after falling as low as $51.39 earlier, its lowest since October 3.
Gold prices rallied to 1-week highs as investors flocked to the safety of safe-haven assets following contradictory reports about U.S.-China trade talks. Spot gold gained 0.2 percent to $1,507.80 per ounce by 1118 GMT, having touched a high of $1,516.96 earlier, its highest since October 3. U.S. gold futures dropped 0.1 percent to $1,511.80.
The U.S. Treasuries remained mixed during the afternoon session ahead of the country’s consumer price inflation (CPI) for the month of September, scheduled to be released today by 12:30GMT, besides, the weekly initial jobless claims, also due later today. In addition, speeches by Federal Open Market Committee (FOMC) members Kashkari and Mester, due today at 16:15GMT and 21:30GMT respectively, will add further direction to the debt markets. The yield on the benchmark 10-year Treasury yield remained flat at 1.587 percent, the super-long 30-year bond yield gained 1 basis point to 2.096 percent while the yield on the short-term 2-year slipped 1-1/2 basis point to 1.460 percent.
The German bunds plunged during European session despite a lower-than-expected trade surplus registered for the month of August, while eyes still remain on the country’s consumer price inflation (CPI) for the month of September, due for release on October 11 by 06:00GMT for further direction in the debt market. The German 10-year bond yield, which move inversely to its price, jumped 3-1/2 basis points to -0.518 percent, the yield on 30-year note surged 3 basis points to -0.034 percent and the yield on short-term 2-year traded 2 basis points higher at -0.719 percent.
The Australian government bonds traded lower as markets are hopeful of a resolution from the U.S.-China trade talks scheduled to be held later today. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, climbed 1 basis point to 0.898 percent, the yield on the long-term 30-year bond surged nearly 1-1/2 basis points to 1.497 percent while the yield on short-term 2-year traded flat at 0.638 percent.