Asia Roundup: Yen rallies as rising coronavirus cases threaten economic reopening, investors eye German CPI data - Monday, June 29th, 2020
America’s Roundup: Dollar little changed against Japanese yen as virus fears counter gains, Wall Street gains, Gold edges higher, Oil steady as hopeful economic data face spike in virus cases-July 7th,2020
Europe Roundup: Euro dips against dollar as coronavirus anxiety deepens, European stocks gain, Gold set for fifth weekly gain, Oil dips, heading for weekly loss as virus cases rise-July 10th,2020
Asia Roundup: Dollar gains as signs of recovery boost risk appetite, Asian shares rally, investors eye EZ CPI - Tuesday, June 30th, 2020
Americas Roundup: U.S. dollar slides to two-week low,Wall Street inches up, Gold smashes through $1,800 level,Oil falls as rise in virus cases, U.S. inventories stall recovery-July 9th,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 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: Euro dips as grim data keeps euro under pressure, European shares edge lower, Gold hovers close eight years high, Oil prices drop on prospect of returning Libyan supplies-June 30th,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
America’s Roundup: U.S. dollar regains traction in FX markets, Wall Street drops, Gold retreats from near eight-year peak, Oil steadies as economic data overshadows coronavirus worries-July 8th,2020
Europe Roundup: Euro dips lower against dollar as markets balanced hopes for a global economic recovery, European stocks dips,Gold hits 8-year peak.Oil rises on manufacturing data, U.S. inventories-July 1st 2020
America’s Roundup: Dollar edges lower amid uncertain U.S. outlook, Wall Street gains,Gold gains, Oil slips slightly on rising coronavirus cases, returning Libyan supplies-1st July 2020
Asia Roundup: Aussie eases as virus cases mount, gold steadies near more than 8-year high, Asian shares nudge lower - Wednesday, July 8th, 2020
Asia Roundup: Aussie near 3-week peak ahead of RBA policy meeting, dollar steadies against yen as investors eye U.S. services sector data, Asian shares at 4-month high - Monday, July 6th, 2020
Asia Roundup: Aussie retreats from near 4-week peak on fresh lockdowns, dollar rebounds against yen on upbeat service sector data, Asian shares plunge - Tuesday, July 7th, 2020
Europe Roundup: Euro rises on upbeat Euro zone retail sales data, European shares gain, Gold ticks higher, Oil mixed on tighter supply, surge in U.S. virus cases-July 6th,2020
America’s Roundup: Dollar drifts higher in thin summer trading, S&P trades near flat, Gold inches down, Oil prices down on dwindling storm impact, Chinese economic data-July 16th,2019
• US July NY Empire State Manufacturing Index 4.30,forecast 1.60,-8.60 previous
Looking Ahead - Economic Data (GMT)
• 22:45 New Zealand CPI (YoY) (Q2)
• 22:45 New Zealand CPI (QoQ) (Q2)
• 03:00 Reserve Bank of New Zealand Offshore Holdings
Looking Ahead - Events, Other Releases (GMT)
• 01:30 Australia RBA Meeting Minutes
EUR/USD: The euro edged lower against the dollar on Monday, as expectations for a dovish European Central Bank meeting next week weighed on single currency. Foreign exchange markets were quiet on Monday and volatility low ahead of major central bank policy meetings next week. Money markets have priced in an ECB rate cut of 10 basis points in September and another one in March. The meeting on July 25 may reinforce those expectations. Investors expect the Federal Reserve to cut its key rate by 25 basis points at the end of July, followed by another cut in September. Forecasts for dovish moves by both central banks have kept euro/dollar stuck in a narrow range for weeks. The euro was down 0.12% at $1.1256, still within the recent range of $1.14 to $1.11.Immediate resistance can be seen at 1.1247 (21 DMA), an upside break can trigger rise towards 1.1300 (Psychological level).On the downside, immediate support is seen at 1.1243 (50 DMA), a break below could take the pair towards 1.1193 (9 July low).
GBP/USD: Sterling declined against the dollar on Monday, as traders were nervous about a loss of momentum in the UK economy, the prospect of an interest rate cut and a new prime minister. On Tuesday, employment and wage growth data for the month of May will show how the British labour market is holding up. Many economists expect the UK economy will have contracted in the second quarter. Investors are also waiting for the outcome of the Conservative party leadership contest to replace Prime Minister Theresa May. Eurosceptic Boris Johnson is the favourite to win against Jeremy Hunt in a vote of Conservative party members. The winner will be crowned leader - and prime minister by the end of July. A stronger dollar also weighed on the British currency. Immediate resistance can be seen at 1.2599 (21 DMA), an upside break can trigger rise towards 1.2682 (50 DMA).On the downside, immediate support is seen at 1.2513 (5 DMA), a break below could take the pair towards 1.2442 (10 July Low).
USD/CAD: The Canadian dollar was little changed against its U.S. counterpart on Monday; holding near Friday’s nine-month high, as domestic data showed that housing sales dipped for the first time in four months. Resales of Canadian homes fell 0.2% in June from the previous month, the Canadian Real Estate Association said on Monday in the first decline reported since home sales plunged in February. The industry group said actual sales, not seasonally adjusted, rose 0.3% from a year earlier. Last week, the Bank of Canada said the housing market is stabilizing, as it left its benchmark interest rate steady at 1.75% and made clear it had no intention of easing monetary policy. The central bank’s stance has contrasted with dovish guidance last week from the U.S. Federal Reserve. Canada’s inflation report for June is due on Wednesday, which could offer further clues on the outlook for Canadian interest rates. At (1925 GMT), the Canadian dollar was trading down 0.16 percent at 1.3046 to the greenback. Immediate resistance can be seen at 1.3069 (9 DMA), an upside break can trigger rise towards 1.3141 (21 DMA).On the downside, immediate support is seen at 1.3020 (July 12th low), a break below could take the pair towards 1.2956 (Lower Bollinger Band).
USD/JPY: The dollar was little changed against the Japanese yen on Monday, as greenback’s upside potential was hampered by expectations the Federal Reserve will cut interest rates at next week’s policy meeting. Investors expect the Fed to reduce its key rate by 25 basis points and make another cut in September. Foreign exchange markets were quiet on Monday and volatility low ahead of major central bank policy decisions next week. The European Central Bank also holds a meeting next week, with investors expecting a dovish statement.The dollar was 0.02 percent higher versus the Japanese yen at 107.19. Strong resistance can be seen at 108.25 (9 DMA), an upside break can trigger rise towards 108.94 (Psychological level).On the downside, immediate support is seen at 107.57 (July 3rd low), a break below could take the pair towards 107.00 (Psychological level).
European shares inched higher on Monday, tracking gains in Asian markets on encouraging factory output and retail sales data from China, which provided some respite from worries about slowing global growth.
UK's benchmark FTSE 100 closed up by 0.34 percent, Germany's Dax ended up by 0.52 percent, France’s CAC finished the day up by 0.10 percent.
U.S. stock extended last week’s gains to trade slightly higher on Monday in the run up to the start of second-quarter earnings reports, beginning with Citigroup..
Dow Jones closed up by 0.10 percent, S&P 500 ended down 0.11 percent, Nasdaq finished the day up by 0.17 percent.
Longer-dated U.S. Treasury yields edged lower on Monday as investors focused on Tuesday’s retail sales figures as the next indicator of the strength of the U.S. economy.
Benchmark 10-year notes gained 3/32 in price to yield 2.10%, after testing the 2.15% level in overnight trading for the third consecutive trading session, the highest level since June 11.
Gold edged lower on Monday as global stock markets gained with investors focussing on some upbeat economic readings from mixed Chinese economic data, while a firm dollar further weighed on bullion.
Spot gold fell about 0.5% to $1,409.09 per ounce as of 10:50 a.m. EDT (1450 GMT). U.S. gold futures fell 0.1% to $1,410.60.
Oil prices sank about 1% on Monday on signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived, while Chinese economic data dimmed the crude demand outlook.
Brent crude futures settled at $66.48 a barrel, losing 24 cents, while U.S. crude settled at $59.58 a barrel, shedding 63 cents, or 1.1%.