America’s Roundup: Dollar firm on upbeat manufacturing data, Wall Street rallies, Gold falls 1%, Oil slides as demand fears outweigh hopes for bigger OPEC+ cuts-February 5th,2020
America’s Roundup: Dollar gains on strong U.S. private payrolls, Wall Street rises, Gold gains ,Oil prices jump 2% as virus vaccine reports spur hope-February 6th,2020
Europe Roundup: Sterling slips to 6-week low vs dollar, European stocks bounce, Gold eases on profit-taking, Oil prices rebound on hopes for OPEC+ supply cuts-February 4th, 2020
Europe Roundup: Euro plunges against dollar as China virus cases soar, European shares falter, Gold rises, Oil prices fall on bearish demand forecasts-February 13th,2020
Europe Roundup: Euro struggles near three-year lows on economic worries, European shares gain, Gold holds near two-week high, Oil price steady-February 17th,2020
America’s Roundup: Dollar hits four-month high after upbeat U.S. jobs data ,Wall Street slips ,Gold gains, , Oil falls 1%-February 8th,2020
America’s Roundup: Dollar holds gains vs yen,Wall Street hits new highs,Gold gains, Oil prices flat-February 7th,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
Europe Roundup: Euro falls to four-month low on weak German data, European shares retreat, Gold steadies, Oil rises on potential OPEC+ output cuts-February 7th,2020
Europe Roundup: Sterling recovers from 2-1/2 month low against dollar, European shares edge lower, Gold steadies, Oil slips on weaker Chinese demand, traders await OPEC+ cuts-February 10th,2020
America’s Roundup: Dollar gains as traders balance virus, economic reports, Wall Street slips, Gold rises, Oil prices climb on prospects for deeper OPEC+ output cuts-February 14th,2020
America’s Roundup: Dollar gains against euro on virus concerns, economic outlook, Wall Street ends higher, Gold hits one-week high, Oil drops to 13-month low-February 11th,2020
Asia Roundup: Aussie eases following RBA meeting minutes, yen surges as coronavirus concerns linger, investors eye German ZEW survey- Tuesday, February 18th, 2020
Asia Roundup: Aussie rebounds on upbeat Chinese PPI, dollar rallies against yen following robust U.S. jobs data, Asian shares slump- Monday, February 10th, 2020
Asia Roundup: Aussie rebounds from 4-month low as RBA stands pat, dollar gains against yen on robust U.S. manufacturing data, Asian shares rally - Tuesday, February 4th, 2020
Europe Roundup:Sterling recovers from 2-1/2 month low following economic growth data, European stocks rise,Gold eases from 1-week high,Oil rises from 13-month low-February 11th,2020
Europe Roundup: Sterling steadied amid Brexit concerns, euro gains on upbeat German factory orders, gold at 6-year peak-Tuesday, August 6th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rebounded from multi-week lows after Trump called the Chinese currency move a major violation and currency manipulation. The greenback against a basket of currencies traded 0.2 percent up at 97.66, having touched a high of 98.93 on Thursday, its highest since May 15, 2017.
EUR/USD: The euro trimmed gains after rising to an over 2-week peak earlier as the greenback rebounded from recent lows. The major found some support after data showed German industrial orders rose 2.5 percent in June, the biggest jump since August 2017. The European currency traded flat at 1.1200, having touched a low of 1.1026 on Thursday, its lowest since May 2017. Immediate resistance is located at 1.1282 (July 19 High), a break above targets 1.1322 (July 2 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 1.1133 (10-DMA).
USD/JPY: The dollar bounced back from a 7-month low as a rebound in the equity markets boosted investor risk sentiment. However, escalation of U.S.-China trade tensions limited the upside. The major was trading 0.4 percent up at 106.32, having hit a low of 105.52 earlier, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. JOLTS Job Openings data and Fed Bullard's speech. Immediate resistance is located at 107.41 (50.0% retracement of 109.31 and 105.52), a break above targets 107.86 (61.8% retracement). On the downside, support is seen at 104.65 (Jan. 3 Low), a break below could take it lower at 104.00.
GBP/USD: Sterling steadied above a 31-month low as investors refrained from taking big positions and preferred staying on the sidelines due to the summer recess in the British Parliament. However, worries that Britain is heading for a no-deal Brexit will continue to dent investor sentiment. The major traded 0.3 percent up at 1.2209, having hit a low of 1.2079 on Thursday, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2253 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2305 (61.8% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading 0.4 percent up at 91.93 pence, having hit a low of 92.49 earlier, it’s lowest since Sept 2017.
USD/CHF: The Swiss franc retreated from a 1-1/2 month peak as the greenback rebounded from recent lows. The major trades 0.2 percent up at 0.9749, having touched a low of 0.9703 earlier; it’s lowest since June 25. On the higher side, near-term resistance is around 0.9768 (23.6% retracement of 0.9975 and 0.9703) and any break above will take the pair to next level till 0.9808 (38.2% 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 steadied after recording their biggest 2-day decline in over 3 years, as upbeat German data revived investor risk sentiment.
The pan-European STOXX 600 index surged 0.5 percent at 371.44 points, while the FTSEurofirst 300 gained 0.5 percent to 1,461.40 points.
Britain's FTSE 100 trades 0.1 percent up at 7,232.80 points, while mid-cap FTSE 250 rallied 0.7 to 19,008.24 points.
Germany's DAX rose 0.6 percent at 11,729.11 points; France's CAC 40 trades 0.9 percent higher at 5,289.57 points.
Crude oil prices plunged near 7-month lows after U.S. President Donald Trump vowed to impose new tariffs on Chinese imports, escalating trade tensions between China and the United States. International benchmark Brent crude was trading 0.4 percent lower at $59.81 per barrel by 1101 GMT, having hit a low of $59.08 earlier, its lowest since January. U.S. West Texas Intermediate was trading 0.2 percent down at $54.85 a barrel, after falling as low as $53.58 on Thursday, its lowest since the June 19.
Gold prices steadied after hitting a 6-year high earlier in the session as simmering tensions between Washington and Beijing propelled investors towards safe-haven assets. Spot gold was trading flat at $1,463.86 an ounce at 1103 GMT after having touched a high of $1,474.80 earlier, its highest since April 2013. U.S. gold futures were down 0.2 percent at $1,474.10.
The U.S. Treasuries suffered during the afternoon session, ahead of today’s JOLTs job openings data for the month of June, FOMC member Bullard’s speech and the short-term 3-year auction, all scheduled at 14:00GMT, 16:00GMT and 17:00GMT respectively. The yield on the benchmark 10-year Treasury yield remained tad 1/2 basis point higher at 1.741 percent, the super-long 30-year bond yields hovered around 2.291 percent and the yield on the short-term 2-year edged nearly 1 basis point higher to 1.589 percent.
The United Kingdom’s gilts slipped slightly during European trading hours ahead of the country’s gross domestic product (GDP) for the second quarter of this year, scheduled to be released on August 9 by 08:30GMT and the manufacturing production data for the month of June, due on the same day for further direction in the debt market. The yield on the benchmark 10-year gilts, edged tad 1/2 basis point higher to 0.519 percent, the 30-year yield remained flat at 1.191 percent and the yield on the short-term 2-year surged 1-1/2 basis points to 0.444 percent.
The Australian government bonds slumped during Asian session of the second trading day of the week, even as investors maintained distance from riskier assets amid ongoing trade tensions between the United States and China after the Reserve Bank of Australia (RBA) remained on hold at its monetary policy meeting, held today. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 2-1/2 basis points to 1.042 percent, the yield on the long-term 30-year bond surged 4 basis points to 1.729 percent and the yield on short-term 2-year traded 3 basis points higher at 0.768 percent.