Europe Roundup: Sterling on track for weekly gain as Brexit negotiations intensify, European stocks rise, Gold ticks up, Oil rises above $42 as possible OPEC+ cut extension offsets demand concern-October 23rd 2020
Asia Roundup: Aussie rises as consumer sentiment improves, greenback hold gains amid renewed concerns over coronavirus vaccine, Asian shares plunge - Wednesday, October 14th, 2020
America’s Roundup: Dollar holds gains on safety bid as uncertainty grows on several fronts, Wall Street closes lower, Gold steady, Oil rises nearly 2% as robust China trade data offsets returning supply-October 14th,2020
America’s Roundup: Dollar index hits seven-week low with COVID stimulus in focus ,Wall Street slips, Gold jumps 1%, Oil prices fall as inventory report reflects demand weakness-October 22nd, 2020
America’s Roundup: Dollar set for best week in three weeks on stimulus uncertainty, virus concerns, Wall Street gains, Gold dips, Oil dips on COVID-19 resurgence, fears of more supply-October 17th,2020
Europe Roundup: Sterling edges lower as Brexit negotiations continue, European shares dips,Gold steadies, Oil rebounds as strong China trade data offsets supply concerns-October 13th,2020
Europe Roundup: Euro gains as investors focus on U.S. stimulus, European stocks fall, Gold hits one-week peak, Oil prices slip as U.S. inventory build stokes fears of supply glut-October 21st,2020
America’s Roundup:Dollar falls for second day as U.S. political concerns grow, Wall Street gains, Gold firms, Oil inches up on U.S. stimulus hopes, rising virus cases keep prices in check-October 21st,2020
America’s Roundup: Dollar hold gains as risk-off sentiment boosts greenback, Wall street ends down, Gold edges up, Oil eases as new lockdowns raise concern about fuel demand-October 16th,2020
Asia Roundup: Kiwi rallies on Ardern's historic re-election win, dollar gains against yen amid U.S. coronavirus relief deal hopes, Asian shares surge - Monday, October 19th, 2020
Europe Roundup: Sterling bounces on hope of further Brexit talks, European shares dip, Gold gains, Oil prices ease as coronavirus spike stokes demand concerns-October 14th,2020
Asia Roundup: Antipodeans set for weekly losses, greenback steadies as pandemic recovery stalls, Asian shares slump - Friday, October 16th, 2020
Europe Roundup: Sterling edges up ahead of UK decision on Brexit negotiations,European stocks gain,Gold edges up,Oil slides on COVID-19 resurgence-October 16th,2020
Asia Roundup: Aussie at 3-week low as RBA minutes confirm rate cut on Nov. 3, greenback steadies amid caution over U.S. coronavirus aid, Asian shares slump - Tuesday, October 20th, 2020
Asia Roundup: Aussie off 1-week peak, greenback steadies on U.S. stimulus concerns, Asian shares plunge - Thursday, October 22nd, 2020
America’s Roundup: Dollar ends losing week lower on election and COVID aid concerns, Wall Street subdued, Gold slips, Oil falls about 2% on Libyan output, COVID-19 demand concerns-October 24th,2020
America's Roundup: Dollar gains ahead of ECB meeting, Wall Street gains, Gold climbs, Oil prices slide 2% after report Trump weighed easing Iran sanctions-September 12th,2019
• All eyes on ECB meeting; euro zone fiscal stimulus prospect
• Yen weakens towards 108 per dollar on rising risk appetite
• US Aug Core PPI (MoM) 0.3%,0.2% forecast, -0.1% previous
• US Aug Core PPI (YoY) 2.3%,2.2% forecast, 2.1% previous
• US Aug PPI (MoM) 0.1%,0.1% forecast, 0.2% previous
• US Aug PPI (YoY) 1.8%,1.7% forecast,1.7% previous
• Canada Capacity Utilization Rate (Q2) 83.3%,81.8% forecast, 81.1% previous
• Russia Jul Trade Balance 11.22B, 11.00B forecast, 12.51B previous
• US Wholesale Inventories (MoM) 0.2%,0.2% forecast, 0.0% previous
• Brazil Foreign Exchange Flows -1.591B, -4.317B previous
Looking Ahead - Economic Data (GMT)
• 22:45 New Zealand Aug FPI (MoM) 1.1%
• 23:00 Japan Sep Reuters Tankan Index -4
• 23:50 Jul Japan Core Machinery Orders (MoM) -9.0%, 13.9% previous
• 23:50 Jul Japan Core Machinery Orders (YoY) -4.5%, 12.5% previous
• 23:50 Japan Foreign Investments in Japanese Stocks -89.5B
• 23:50 Aug Japan PPI (MoM) -0.2%,0.0 previous
• 23:50 Aug Japan PPI (YoY) -0.8%,-0.6 previous
• 01:00 Australia MI Inflation Expectations 3.5% previous
• Tentative China Trade Balance (USD) 45.06B previous
• 11:45 ECB Interest Rate Decision (Sep)
Looking Ahead - Events, Other Releases (GMT)
• 11:45 ECB Monetary Policy Statement
• 12:30 ECB Press Conference
EUR/USD: The euro fell to a one-week low against the greenback on Wednesday, a day before the European Central Bank is expected to add further stimulus in a bid to boost the region’s economy. ECB policymakers are leaning toward a package that includes a rate cut, a beefed-up pledge to keep rates low for longer and compensation for banks over the side-effects of negative rates, five sources familiar with the discussion said last week.Many also favor restarting asset buys, but opposition from some northern European countries is complicating this issue. The euro was down 0.43 percent at $1.0996. An index that tracks the dollar versus a basket of six major currencies was down 0.30 at 98.30. Immediate resistance can be seen at 1.1058 (21 DMA), an upside break can trigger rise towards 1.1086 (Sep 5th high).On the downside, immediate support is seen at 1.0964 (lower BB),a break below could take the pair towards 1.0900 (Psychological level).
GBP/USD: Sterling strengthened against dollar on Wednesday, as investors assessed the chances Prime Minister Boris Johnson can strike a Brexit deal with the European Union before Oct. 31.The probability of a no-deal Brexit was still very much a concern for traders, given that Johnson stood firm on taking Britain out of the EU by the end of next month.But the British parliament approved legislation which forces Johnson to request a deadline extension from Brussels if he cannot agree on a deal with the EU by mid-October. Investors, calculating that the risk of no-deal Brexit is receding after the law passed, have pushed sterling from under $1.20, the three-year low it reached early last week, to as high as $1.2385 on Monday. Immediate resistance can be seen at 1.2394 (Higher BB), an upside break can trigger rise towards 1.2400 (Psychological level).On the downside, immediate support is seen at 1.2278 (50 DMA), a break below could take the pair towards 1.2224 (11 DMA).
USD/CAD: The Canadian dollar was little changed against its U.S. counterpart on Wednesday, holding near a six-week high it notched the day before, as oil prices rose and domestic data showed higher than expected industrial capacity usage. Canadian industries ran at 83.3% of capacity in the second quarter of 2019, up from an upwardly revised 81.1% in the first quarter, Statistics Canada said. Economists had forecast a rate of 81.8%. The Canadian dollar was trading 0.1% higher at 1.3162 to the greenback, or 75.98 U.S. cents. The currency, which on Monday notched its strongest since July 31 at 1.3140, traded in a range of 1.3161 to 1.3191.Immediate resistance can be seen at 1.3234 (9 DMA), an upside break can trigger rise towards 1.3246 (11 DMA).On the downside, immediate support is seen at 1.3130 (lower BB), a break below could take the pair towards 1.3100 (Psychological level).
USD/JPY: The U.S. dollar strengthened against the yen on Wednesday, as demand for safe-haven assets continued to diminish on the back of rising risk appetite. The yen had rocketed towards a 2019 high as investors in August fretted about the prospect of a global recession and selloff. Forex traders often buy the yen in times of uncertainty because of Japan’s vast current account surplus and because they believe Japanese investors will bring their money home when international markets tumble. But with broader stock markets recovering on hopes of easing U.S.-China tensions and diminishing risks of a no-deal Brexit before several key central bank meetings, the yen is now weakening. Strong resistance can be seen at 107.88 (Daily high), an upside break can trigger rise towards 108.00 (Psychological level).On the downside, immediate support is seen at 107.16 (50 DMA), a break below could take the pair towards 106 .70 (11 DMA).
European shares hit six-week highs on Wednesday, supported by easing U.S.-China trade tensions and hopes of fresh stimulus from the European Central Bank, while news from individual companies played into the upbeat mood.
The UK's benchmark FTSE 100 closed up by 0.96 percent, Germany's Dax ended up by 0.74 percent, and France’s CAC finished the day up by 0.44 percent.
U.S. stocks rose slightly on Wednesday as China’s move to ease trade tensions with the United States soothed investor nerves, while shares of Apple gained a day after the launch of its latest iPhones.
Dow Jones closed up by 0.85 percent, S&P 500 ended up 0.71 percent, Nasdaq finished the day down by 1.06 percent.
U.S. Treasury yields extended their rise on Wednesday after data showed core U.S. producer prices data rebounded in August after falling the previous month, suggesting some pick-up in inflation.
U.S. benchmark 10-year note yields rose to 1.729% from 1.702% late on Tuesday. Early in the session, 10-year yields hit a four-week high of 1.744%.
Gold rose on Wednesday on expectations of monetary policy easing by top central banks while global growth risks continue to linger, although improved appetite for riskier assets capped bullion’s gains and kept it near a four-week low.
Spot gold was up 0.6% to $1,494.90 per ounce at 1:39 p.m. EDT (1739 GMT). Prices fell to their lowest since Aug. 13 at $1,483.90 in the previous session in four-day losing streak.U.S. gold futures settled 0.3% higher at $1,503.20 an ounce.
Oil prices tumbled on Wednesday after a report that U.S. President Donald Trump weighed easing sanctions on Iran, which could boost global crude supply at a time of lingering worries about global energy demand.
Brent crude fell $1.31, or 2.1%, to $61.07 a barrel by 11:55 a.m. ET (1555 GMT), while U.S. West Texas Intermediate declined $1.26, or 2.2%, to $56.14 a barrel.