America’s Roundup: Dollar gains on coronavirus, tariff concerns, Wall Street ends lower, Gold retreats from an over 7-1/2 year high, Oil dives over 5% as U.S. crude stocks hit record, COVID cases mount-June 25th 2020
Asia Roundup: Aussie at 1-week peak on Trump's assurance over U.S.-China trade pact, dollar gains as traders speculate pandemic recovery, Asian shares rebound - Tuesday, June 23rd, 2020
Europe Roundup: Sterling gains on weaker dollar, Brexit hopes, European shares dips,Gold hits 1-month peak, Oil steady as a rise in virus cases counters tighter supplies-June 22nd 2020
Europe Roundup: Euro dips on fears of pandemic wave, European stocks rebound, Gold steadies, Oil slips towards $40 on record U.S. inventories, COVID fears-June 25th,2020
Asia Roundup: Japanese yen gains as China passes national security law, dollar steadies as investors eye U.S. manufacturing PMI, Asian shares nudge higher - Wednesday, July 1st, 2020
Asia Roundup: Aussie rebounds on RBA Lowe's comments, greenback steadies near recent peaks amid fears of virus second wave, Asian shares consolidate - Monday, June 22nd, 2020
America’s Roundup: Dollar recovers some overnight losses , Wall Street gains,Gold steadies near multi-year peak, Oil rises on improving economic data but virus case jump caps gains-June 30th,2020
Europe Roundup: Sterling slips further to $1.24, weighed down by Brexit,European shares rise, Gold on course for third weekly gain, Oil prices inch up as demand upswing counters virus concerns-June 26th,2020
America’s Roundup: Dollar gains as virus concerns dents risk appetite, Wall Street ends higher ,Gold steadies, Oil prices climb as U.S. economic data lends support-June 26th,2020
Asia Roundup: Yen rallies as rising coronavirus cases threaten economic reopening, investors eye German CPI data - Monday, June 29th, 2020
America’s Roundup: U.S. dollar rises as surge in coronavirus cases boosts haven bid,Wall Street falls, Gold slides, Oil settles lower on rise in U.S. coronavirus cases-June 27th,2020
Europe Roundup: Sterling gains on infrastructure spending promise, Brexit caps gains, European shares gain Gold holds close to near 8-year peak, Oil rises on improving economic data, supply cut-June 29th,2020
America’s Roundup: Dollar stumbles as jump in coronavirus cases dented the economic outlook, Wall Street ends higher, Gold hits highest since October 2012, Oil flat, near highest since March, after Trump assurance on China trade-June 24th,2020
Europe Roundup: Sterling heads for first weekly win against dollar, European stocks dips, Gold holds steady, Oil falls below $43 on virus fears, still heads for weekly gain-July 3rd 2020
America’s Roundup: Dollar turns higher as focus turns to surging coronavirus cases, Wall Street jumps, Gold gains, Oil up more than 2% on U.S. jobs data but virus fears cap gains-July 3rd 2020
America’s Roundup: Dollar dips as infections spike hits confidence,Wall Street ends higher, Gold jumps, Oil up above 2% on tighter supplies, eased lockdowns-June 23rd 2020
Europe Roundup: Sterling steadies below 1.300, dollar index rebounds from 6-1/2-month lows, investors await FOMC meeting minutes - Wednesday, May 24th, 2017
Economic Data Ahead
Key Events Ahead
DXY: The dollar steadied versus its major peers as investors awaited the Federal Reserve's latest policy meeting minutes. The greenback against a basket of currencies consolidated around 97.36, having hit a low of 96.80 the prior day, it’s lowest since Nov. 9. FxWirePro's Hourly Dollar Strength Index stood at 31.93 (Neutral) by 1000 GMT.
EUR/USD: The euro steadied after declining from a 6-1/2 month high in the previous session as the greenback rebounded ahead of the minutes of the Federal Reserve's latest meeting. The European currency traded flat 1.1184, having touched a high of 1.1267 on Tuesday, its highest since Nov. 9. FxWirePro's Hourly Euro Strength Index stood at -65.98 (Bearish) by 1000 GMT. On the lower side, any break below 1.11600 will drag the pair down till 1.110 (23.6% retracement of 1.105694 and 1.12678) /1.1050/ 1.1000. But upside will be limited as market firmed up their expectations for a June Fed hike.
USD/JPY: The dollar consolidated near a 1-week high as investors await the Federal Reserve's monetary policy minutes due later in the day for clues on the outlook for U.S. interest rates. The major trades flat at 111.79, having touched a high of 112.50 earlier, its highest since May 17. FxWirePro's Hourly Yen Strength Index stood at -72.53 (Bearish) by 1000 GMT. On the lower side, support is seen at 111 (May 19 low), 110.61 (23.6% Fib of 118.662 to 108.130 fall), break below will test 109.75 (200-DMA & trendline). On the upside, resistance is located at 112, 112.15 (38.2% Fib), break above targets 112.42 (20-DMA).
GBP/USD: Sterling steadied below the 1.300 handle after falling from recent highs as markets attention shifted on the U.S. Federal Reserve minutes later in the day for fresh direction, with campaigning for June elections suspended. Sterling was little changed at 1.2961, having hit a high of 1.3047 last week, its strongest since Sept. 29. FxWirePro's Hourly Sterling Strength Index stood at -38.39 (Neutral) by 1000 GMT. On the higher side, any close above 1.30500 confirms bullish continuation and a jump till 1.3088/13120 likely. The major support is around 1.2930-40 (10 day MA and 20- day MA) and any break below will drag till 1.2900/1.2830. Against the euro, the pound traded 0.08 percent down at 86.30 pence, having hit a 1-1/2 month low of 86.74 the day before.
USD/CHF: The Swiss franc retreated from a 6-1/2month high as the greenback gained ahead of the Federal Reserve's monetary policy minutes release. The major rose 0.1 percent to 0.9771, having hit a low of 0.9691 on Friday, its weakest since Nov 9. FxWirePro's Hourly Swiss Franc Strength Index stood at -166.79 (Highly Bearish) by 1000 GMT. The pair is facing strong trend line support at 0.9720 (trend line joining 0.90786 and 0.95493) and any further bearish continuation can be seen only if it closes below that trend line. The near term major support is around 0.96788 and break below targets 0.96170. On the higher side, near term resistance is around 0.9765 and any break above will test 0.9820 (support turned into resistance)/0.9860
AUD/USD: The Australian dollar recovered after declining earlier in the session on news that Moody's downgraded China's sovereign rating citing eroding financial strength and slowing growth. The Aussie trades 0.01 percent up at 0.7477, having hit a high of 0.7517 the day before, it’s strongest since May. 3. FxWirePro's Hourly Aussie Strength Index stood at 108.90 (Highly Bullish) by 1000 GMT. On the downside, support is seen at 0.7432 (20-DMA), 0.7428 (23.6% Fibo 0.7749 to 0.7329 fall), break below targets 0.7355 (trendline). On the upside, resistance is located at 0.7454 (5-DMA), 0.75 (psychological level) and 0.7540 (200-DMA), 0.7588 (61.8% Fib).
European shares advanced in early trade, underpinned by a rise in oil & gas stocks, while investors awaited minutes of the Federal Reserve's latest meeting for clues on the outlook for U.S. interest rates.
The pan-European STOXX 600 index gained 0.1 percent to 392.65 points, while the FTSEurofirst 300 index rose 0.1 percent to 1,542.95 points.
Britain's FTSE 100 trades 0.2 percent up at 7,500.85 points, while mid-cap FTSE 250 rallied 0.2 percent to 19,954.73 points.
Germany's DAX declined 0.1 percent at 12,642.08 points; France's CAC 40 trades 0.05 percent lower at 5,345.75 points.
Crude oil prices rose to a fresh 1-month high earlier in the session, supported by growing expectations that OPEC and other producers would agree to keep output restricted until the first quarter of next year. International benchmark Brent crude was trading 0.3 percent up at $54.29 per barrel by 0955 GMT, having hit an early high of $54.59, its strongest since Apr. 19. U.S. West Texas Intermediate gained 0.1 percent to $51.54 a barrel, after rising as high as $51.85, its highest since Apr. 19.
Gold prices edged up after declining in the previous session, as investors awaited the minutes of Federal Reserve's latest policy meeting due later in the day for cues on the interest rate hike stance. Spot gold was 0.1 percent up at $1,251.68 per ounce by 1000 GMT, having hit a near 3-week high last week. U.S. gold futures shed up to 0.4 percent to $1,250.20 an ounce.
The U.S. Treasuries gained as investors await to read the Federal Reserve’s minutes of the last policy meeting, scheduled to be released later in the day. The yield on the benchmark 10-year Treasury, slipped nearly 1 basis point to 2.27 percent, the super-long 30-year bond yields fell 1 basis point to 2.93 percent and the yield on short-term 2-year note traded 1/2 basis point lower at 1.32 percent.
The UK gilts gained as investors poured into safe-haven instruments after Prime Minister Theresa May, commented, post the terrorist attack in Manchester, that the level of threat has become 'critical'. The yield on the benchmark 10-year gilts, slumped 1-1/2 basis points to 1.06 percent, the super-long 30-year bond yields plunged nearly 2 basis points to 1.68 percent and the yield on the short-term 2-year traded 2 basis points lower at 0.09 percent.
The German bunds gained as investors wait to watch the European Central Bank (ECB) President Mario Draghi’s speech, scheduled to be held later in the day. The yield on the benchmark 10-year bond, fell nearly 1 basis point to 0.39 percent, the long-term 30-year bond yields slipped 1 basis point to 1.22 percent and the yield on short-term 2-year bond also traded nearly 1 basis point lower at -0.65 percent.
The New Zealand bonds closed weaker after reading the better-than-expected trade surplus data for the month of April, released earlier today. At the time of closing, the yield on the benchmark 10-year bond, rose 1-1/2 basis points to 2.87 percent, the yield on 7-year note also climbed 1-1/2 basis points to 2.55 percent and the yield on short-term 2-year note too traded 1 basis point lower at 1.96 percent
The Australian bonds plunged tracking weakness in the United States counterpart after a solid supply at the 2-year debt auction held late yesterday. The yield on the benchmark 10-year Treasury note, jumped nearly 4 basis points to 2.49 percent, the yield on 15-year note climbed 3-1/2 basis points to 2.91 percent and the yield on short-term 2-year traded nearly 1 basis point higher at 1.62 percent.