Europe Roundup: Euro recovers back above $1.09 level,European stocks slide, Gold gains, Oil prices fall for fifth day to lowest in a year-February 27th,2020
America’s Roundup: U.S. dollar falls as Fed rate cut expectations rise,Wall Street deepens losses, Gold retreats, Oil slips as virus fears outweigh supply cuts-February 26th,2020
Asia Roundup: Antipodeans slump as persistent virus fears dampen China stimulus, greenback near 3-year peak on upbeat economic data, Euro consolidates ahead of CPI data - Friday, February 21st, 2020
America’s Roundup: Dollar pushes higher as virus spreads, Wall Street sinks, Gold gains as much as 2.8%, Oil slumps 5%-February 25th, 2020
Europe Roundup:Sterling weakens on rate-cut expectations, European shares fall,Gold gains, U.S. crude drops below $50-February 26th,2020
Europe Roundup: Euro dips coronavirus outbreak’s pace sparks new fears, European shares slump, Gold jumps over 2%, Oil prices drop 4%-February 24th,2020
America’s Roundup: Dollar dips on virus concerns and consumer data, Wall Street dips, Gold eases, Oil prices rise more than 1%, on course for weekly gain-February 15th,2020
Asia Roundup: Antipodeans plunge as pandemic fears grow, euro rallies to 2-week peak on stimulus expectations, Asian shares slump - Thursday, February 27th, 2020
Europe Roundup: Sterling falls for fourth day as dollar, EU talks offset retail bounce ,European shares muted, Gold eases, Oil holds near one-month high-February 20th,2020
America’s Roundup: Dollar rises with stocks, investors stay cautious, Wall Street bounces, Gold pares gains, Oil prices drop to lowest in more than a year as coronavirus spreads-February 27th,2020
Europe Roundup: Euro falls below key $1.08 level,European shares rise, Gold holds above $1,600, Oil rises amid hope for short economic hit from coronavirus outbreak-February 19th,2020
America’s Roundup: Dollar dives to seven-week low against yen on Fed rate cut hint, Wall Street plunges, Gold slumps 3%, Oil prices sink to lowest in more than a year-February 29th,2020
Europe Roundup: Sterling dips as coronavirus fears rattle nerves ,European share slide 3%, Gold rises, Oil prices on track for biggest weekly fall in four years-February 28th,2020
America’s Roundup: Dollar retreats as coronavirus fallout lifts rate cut expectations, Gold pares gains, Oil prices dive to lowest in over a year on coronavirus fears-February 28th,2020
Asia Roundup: Japanese yen rallies as investors stampede to safe-haven assets, greenback at 3-week low as pandemic fears lift Fed rate-cut bets, Asian shares plunge - Friday, February 28th, 2020
Asia Roundup: Aussie near 11-year low as jobs data disappoint, greenback rallies to multi-year peak on stronger risk appetite, Asian shares surge - Thursday, February 20th, 2020
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.