Asia Roundup: Dollar steadies near 2-year low as investors turn to Congress for stimulus, Asian shares surge, markets await EZ economic data - Thursday, July 30th, 2020
Asia Roundup: Aussie steadies as RBA keeps policy steady, dollar gains against yen as investors await U.S. stimulus deal, Asian shares surge - Tuesday, August 4th, 2020
Europe Roundup: Sterling slips, erasing recent gains, European stocks grind higher,Gold retreats from record peak, Oil steady as virus fears counter positive factory data-August 3rd,2020
Europe Roundup: Sterling heads lower after early gains, European shares dips,Gold edges back from record peak, Oil falls as rising virus cases overshadow demand recovery-August 4th,2020
America’s Roundup: Dollar drops to four-month low, Wall Street rises, Gold surges 1.5% , Oil prices up $1/bbl on virus vaccine hopes, EU stimulus deal-July 22nd,2020
Europe Roundup: Euro set for best month in a decade, European shares rebound ,Gold heads for best monthly gain since January 2012, Oil on track for monthly gain as dollar weakness supports-July 31st,2020
America’s Roundup: Dollar dips amid doubts about U.S. stimulus, Wall Street gains, Gold hits highest since 2011, Oil falls as U.S. posts surprise rise in crude inventories-July 23rd 2020
America’s Roundup: Dollar steadies from 2-year lows, Wall Street pauses, Gold retreats from record peak. Oil falls as U.S. stimulus package faces tough talks-July 29th,2020
Asia Roundup: Dollar steadies across the board on U.S. stimulus hopes, gold eases from record peak on profit taking, Asian shares nudge higher - Tuesday, July 28th, 2020
America’s Roundup: Dollar gains on upbeat manufacturing data,Wall Street jumps, Gold pulls back from record high, Oil rises more than 1% on hopes for economic recovery-August 4th,2020
America’s Roundup: Dollar slides as Trump's election tweet rattle markets,Wall Street falls ,Gold retreats, Oil down nearly 4% as virus surge weighs on demand outlook-July 31st,2020
America’s Roundup: Dollar hits two-year lows as Fed affirms dovish stance, Wall Street closes higher, Gold gains, Oil edges up after sharp U.S. crude inventory drop-July 30th,2020
Europe Roundup: Euro's advance slows as risk sentiment falters, European shares slip,Gold retreats more than 1%, Oil prices slide as virus surge weighs on demand outlook-July 30th,2020
Europe Roundup: Euro hits 18-month high against dollar, European stocks dips ,Gold hits highest since 2011 on stimulus bets, Oil falls as inventories rise, U.S.-Chinese tensions escalate-July 22nd 2020
Europe Roundup: Euro firm on EU fund deal, European shares gains,Gold hits nine-year high, Oil eases as high U.S. oil stocks outweigh weak dollar-July 23rd 2020
Asia Roundup: Yen at 1-month peak on U.S.-China tensions, Asian shares off 6-month high, investors eye EZ Markit PMI - Friday, July 24th, 2020
America’s Roundup: Dollar falters as decent U.S. data curbs safe haven demand, Wall Street gains, Gold retreats from near 8-year peak, Oil prices firm on factory, inventory data-July 2nd, 2020
• U.S. ISM Manufacturing data hits over one-year high
• US Private payrolls miss expectations in June – ADP
• U.S. marks record single-day spike in virus cases
• US June ADP Nonfarm Employment Change2,369K, 3,000K forecast, -2,760K previous
• US Seevol Cushing Storage Report -1.637M,-0.183M previous
• US June Manufacturing PMI 49.8, 49.6 forecast, 39.8 previous
• US June ISM Manufacturing New Orders Index 56.4, 31.8 previous
• US June ISM Manufacturing PMI 52.6 ,49.5 forecast, 43.1 previous
• US June ISM Manufacturing Employment 42.1, 43.0 forecast, 32.1 previous
• US June ISM Manufacturing Prices 51.3, 43.0 forecast, 43.0 previous
• US Construction May Spending (MoM) -2.1%, 1.0% forecast, -2.9% previous
• US Crude Oil Inventories -7.195M,-0.710M forecast, 1.442M previous
Looking Ahead - Economic Data (GMT)
• 22:00 New Zealand NZIER QSBO Capacity Utilization (Q2) 92.1% previous
• 22:00 New Zealand NZIER Business Confidence (Q2) -70% previous
• 23:50 Japan Monetary Base (YoY) 3.9% previous
• 23:50 Japan Foreign Bonds Buying 1,542.0B previous
• 23:50 Japan Foreign Investments in Japanese Stocks -421.9B previous
• 01:30 Australia May Exports (MoM) -11% previous
• 01:30 Australia May Imports (MoM) -10% previous
• 01:30 Australia May Trade Balance 8.800B previous
Looking Ahead - Economic events and other releases (GMT)
• No significant events
EUR/USD: The euro gained against dollar on Wednesday as improved European economic data lifted euro across the board. With transmission rates of the coronavirus falling in much of Europe, and economies opening up, IHS Markit’s final euro zone Manufacturing Purchasing Managers’ Index (PMI) moved closer to the 50-mark separating growth from contraction in June. Germany’s manufacturing sector also contracted at a slower pace as Europe’s largest economy lifted restriction. The euro fell 0.2% versus the dollar to $1.1251 at 20:48 GMT. Immediate resistance can be seen at 1.1292 (23.6% fib), an upside break can trigger rise towards 1.1289 (23.6% fib).On the downside, immediate support is seen at 1.1236 (5DMA), a break below could take the pair towards 1.1162 (38.2% fib).
GBP/USD: Sterling rose against dollar on Wednesday after upbeat U.S. data clipped safe-haven demand for dollars and as British manufacturing survey data pointed to a small increase in output after the historic collapse caused by the coronavirus. The Purchasing Managers Index survey for June came in at 50.1, in line with a forecast from economists polled by Reuters and up from 40.7 in May. It was unrevised from a preliminary reading. The move above the 50 line signifies growth for the first time since February. After earlier trading flat, the pound was up 0.4% to $1.2475 by 20:48 GMT. Immediate resistance can be seen at 1.2441 (14 DMA), an upside break can trigger rise towards 1.2516 (38.2% fib).On the downside, immediate support is seen at 1.2362 (5 DMA), a break below could take the pair towards 1.2306 (50% fib).
USD/CAD: The Canadian dollar strengthened on Wednesday against its U.S. counterpart following data pointing to a recovery in manufacturing and on bets for a COVID-19 vaccine, while the risk-on mood pushed the U.S. dollar lower. U.S. manufacturing activity data on Wednesday is forecast to show a recovery from an 11-year low in April while the non-farm payrolls report on Thursday is expected to show the economy added 3 million jobs in June. Brent crude rose 2.0% to $42.10 a barrel, while U.S. crude was up 2.1% at $40.10 a barrel. Immediate resistance can be seen at 1.3611 (5 DMA), an upside break can trigger rise towards 1.3621 (5 DMA).On the downside, immediate support is seen at 1.3550 (21DMA), a break below could take the pair towards 1.3475 (23.6% fib).
USD/JPY: The dollar declined against the Japanese yen on Wednesday as dollar was bogged down in worries about surging coronavirus cases in the United States on Wednesday, even as a slew of data hinted at signs of an economic recovery. Coronavirus cases surged, with the United States recording 47,000 new infections on Tuesday, its biggest single-day spike since the pandemic began. Strong resistance can be seen at 107.83 (100 DMA), an upside break can trigger rise towards 108.27 (61.8% fib).On the downside, immediate support is seen at 107.37 (50DMA), a break below could take the pair towards 106.72 (38.2 %fib ).
Hopes of a COVID-19 vaccine pulled European stocks from losses earlier on Wednesday, after fears of a no-deal Brexit and anxieties relating to the European Union’s recovery fund had weighed on sentiment.
UK's benchmark FTSE 100 closed down by 0.19 percent, Germany's Dax ended down by 0.41 percent, France’s CAC finished the day down by 0.18 percent.
U.S. stock markets gained on Wednesday following a string of data pointing to a recovery in manufacturing, and on bets for a COVID-19 vaccine.
Dow Jones closed down by 0.30 percent, S&P 500 closed up by 0.50 percent, Nasdaq settled up by 0.95 % percent.
U.S. Treasury yields on the long end of the curve shot higher on Wednesday after data showed manufacturing activity rebounded in June and minutes from the Federal Reserve's last meeting indicated yield curve control was not coming anytime soon.
The benchmark 10-year yield was last up 2.9 basis points at 0.6824%.
Gold dropped from a near eight-year high on Wednesday as equities gained on the back of encouraging U.S. manufacturing data and rising hopes for a potential COVID-19 vaccine.
Spot gold fell 0.6% to $1,770.57 per ounce by 1:31 p.m. EDT (1731 GMT), having earlier hit a peak since October 2012 at $1788.96. U.S. gold futures settled down 1.1%, at $1,779.90.
Oil prices rose more than 1% on Wednesday following a drawdown in U.S. crude inventories from record highs and a string of positive manufacturing data, but a surge in coronavirus cases tempered gains.
Brent crude rose 76 cents, or 1.8%, to settle at $42.03 a barrel. U.S. crude rose 55 cents, or 1.4%, to settle at $39.82 a barrel.