Asia Roundup: Aussie at 6-week peak amid optimism around U.S.-China trade talks, dollar gains against yen as risk appetite improves, Asian shares surge - Wednesday, September 11th, 2019
Europe Roundup: Sterling eases as Brexit uncertainty persists, euro steadies as investors eye ECB policy decision and Draghi’s presser, European shares off 6-week peak - Thursday, September 12th, 2019
Europe Roundup: Sterling at 1-month peak as UK economy shows unexpected strength, euro rallies as EZ investor morale improves, European shares surge - Monday, September 9th, 2019
Europe Roundup: Sterling gains as no-deal Brexit fears ease, euro at 1-week peak as new Italian coalition government unveils cabinet, European shares surge - Thursday, September 5th, 2019
Europe Roundup: Sterling rallies as UK lawmakers try to avoid no-deal Brexit, euro steadies as Italian political tensions ease, European shares at 1-month peak - September 4th, 2019
America's Roundup: Dollar gains on trade optimism, strong U.S. data, Wall Street ends higher, Gold slides 2%, Oil prices slip-September 6th, 2019
America's Roundup: Dollar edges higher on trade, Brexit worries, U.S. stocks dip,Gold steady, Oil sinks as manufacturing data feeds global economy worries-September 4th,2019
America's Roundup: Euro gains as bank relief offsets ECB stimulus, Wall Street ends mixed, Gold eases,Oil dips as demand concerns counter U.S.-China trade hopes-September 14th,2019
America's Roundup: Euro gains after ECB decision, yen weakens on trade hopes, Wall Street gains, Gold dips, Oil prices fall 1% on U.S.-China trade doubts, OPEC+ talks-September 13th, 2019
America's Roundup: Dollar firms, ECB meeting in focus, Wall Street slips, Gold dips to near one-month low, Oil falls on possibility of Iran exports resuming after Trump fires hardline adviser-September 11th, 2019
Europe Roundup: Sterling eases as investors eye vote on early election, euro tumbles as EZ growth halves in Q2, markets await U.S. non-farm payroll report - Friday, September 6th, 2019
Asia Roundup: Antipodeans decline on downbeat Chinese new home prices, greenback gains ahead of Fed policy meeting, Asian shares tumble - Tuesday, September 17th, 2019
Asia Roundup: Antipodeans rally as global tensions abate, greenback steadies on firm U.S. economic data, investors eye EZ Q2 GDP - Friday, September 6th, 2019
Asia Roundup: Aussie at 1-month peak on upbeat home loan data, greenback halts 4-day losing streak on Fed Powell's comments, Asian shares surge - Monday, September 9th, 2019
America’s Roundup: Dollar gains as risk sentiment improves, Wall Street ends flat, Gold dips to 2-week low, Oil gets boost as new Saudi minister commits to output cuts-September 10th,2019
Asia Roundup: Antipodeans surge on trade optimism, euro advances after ECB cuts key rate and approves restarting bond purchases, Asian shares rally - Friday, September 13th, 2019
Europe Roundup: Sterling slumps to 2-1/2 year low as UK economy contracts, euro gains despite Italy's political turmoil, gold steadies above $1500 level - Friday, August 9th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index consolidated within narrow ranges amid trade war worries and the prospect of early elections in Italy and Britain. The greenback against a basket of currencies traded flat at 97.55, having touched a low of 97.21 on Tuesday, its lowest since July 22.
EUR/USD: The euro surged despite a breakdown in Italy’s governing coalition and the prospect of new elections. Italian Deputy Prime Minister Matteo Salvini stated that his League party’s coalition with the 5-Star Movement was untenable and called for early elections. The European currency traded 0.2 percent up at 1.1198, having touched a high of 1.1249 on Tuesday, its highest since July 19. Immediate resistance is located at 1.1233 (July 17 High), a break above targets 1.1282 (July 19 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1138 (50% retracement).
USD/JPY: The dollar slumped, hovering towards a 7-month low hit earlier in the week, weighed down by concern about the escalating trade war between Beijing and Washington. The major was trading 0.3 percent down at 105.76, having hit a low of 105.49 on Wednesday, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index data. Immediate resistance is located at 106.39 (23.6% retracement of 109.31 and 105.49), a break above targets 106.95 (38.2% retracement). On the downside, support is seen at 105.52 (Aug. 6 Low), a break below could take it lower at 104.65 (Jan. 3 Low).
GBP/USD: Sterling plunged to a 2-1/2 year low after data showed the British economy shrank unexpectedly for the first time since 2012 in the second quarter, dragged down by a slump in manufacturing. The economy's gross domestic product fell at a quarterly rate of 0.2 percent in the three months to June, while year-on-year economic growth declined to 1.2 percent from 1.8 percent in the first quarter. The major traded 0.5 percent down at 1.2072, having hit a low of 1.2056 earlier, it’s lowest since Jan. 2017. Immediate resistance is located at 1.2236 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2291 (50% retracement). On the downside, support is seen at 1.2017 (Jan 17, 2017, Low), a break below targets 1.1986 (Jan 16, 2017, Low). Against the euro, the pound was trading 0.7 percent down at 92.76 pence, having hit a low of 92.89 earlier, it’s lowest since August 2017.
USD/CHF: The Swiss franc surged, extending gains for the third straight session as fears of a snap election in Italy and U.S.-China trade conflict concerns encouraged demand for safe-haven currencies. The major trades 0.2 percent down at 0.9732, having touched a low of 0.9692 on Wednesday; it’s lowest since September 27. On the higher side, near-term resistance is around 0.9800 (38.2% retracement of 0.9975 and 0.9703) and any break above will take the pair to next level till 0.9834 (50% retracement). The near-term support is around 0.9700, and any close below that level will drag it till 0.9650 (Sept. 6 Low).
European shares plunged as worries about the stability of Italy’s government and ongoing U.S.-China trade tensions dented investor sentiment.
The pan-European STOXX 600 index declined 0.7 percent at 372.16 points, while the FTSEurofirst 300 fell 0.7 percent to 1,464.64 points.
Britain's FTSE 100 trades 0.1 percent down at 7,279.98 points, while mid-cap FTSE 250 rallied 0.5 to 19,139.68 points.
Germany's DAX eased 1.2 percent at 11,703.00 points; France's CAC 40 trades 0.9 percent lower at 5,335.61 points.
Crude oil prices surged, supported by expectations of more OPEC production cuts despite the International Energy Agency reporting demand growth at its lowest level since the financial crisis of 2008. International benchmark Brent crude was trading 0.7 percent higher at $58.30 per barrel by 1138 GMT, having hit a low of $55.86 on Wednesday, its lowest since January. U.S. West Texas Intermediate was trading 0.4 percent up at $53.08 a barrel, after falling as low as $50.51 on Wednesday, its lowest since the January.
Gold prices held firm above $1,500 an ounce and were on course for its biggest weekly gain in more than three years on heightened trade tensions between Washington and Beijing. Spot gold was trading 0.2 percent up at $1,502.91 per ounce at 1141 GMT, having touched a high of $1,510.29 on Wednesday, its highest since April 2013. Bullion has risen 4.3 percent so far this week, and about 17 percent for the year, gaining more than $100 in the past week. U.S. gold futures rose 0.3 percent to $1,514.30 an ounce.
The yield on the U.S. benchmark 10-year Treasury yield has lost nearly 10 basis point from high 1.79% and is currently trading around 1.704%. The 30-year bond yield declined nearly 10 basis points from minor top 2.318% made yesterday. The short-term 2-year traded lower at 1.608 percent.
The United Kingdom’s gilts surged during European trading hours Friday after the country’s gross domestic product (GDP) for the second quarter of this year and manufacturing production for the month of June disappointed market sentiments. The yield on the benchmark 10-year gilts suffered nearly 4 basis points to 0.482 percent, the 30-year yield also slumped 4 basis points to 1.138 percent and the yield on the short-term 2-year traded 2-1/2 basis points lower at 0.439 percent.
The German bunds jumped during European trading session Friday after the country’s trade balance for the month of June narrowed down amid an otherwise muted day that witnessed data of little economic significance. The German 10-year bond yields, which move inversely to its price, slumped 2-1/2 basis points to -0.584 percent, the yield on 30-year note plunged 3 basis points to -0.067 percent and the yield on short-term 2-year traded 1-1/2 basis points down at -0.865 percent.