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
Asia Roundup: Aussie eases following RBA meeting minutes, yen surges as coronavirus concerns linger, investors eye German ZEW survey- Tuesday, February 18th, 2020
America’s Roundup: Dollar index at near three-year high as yen sinks on stronger risk appetite ,Wall Street rise, Gold gains, Oil up on slowing pace of coronavirus, Venezuela sanctions-February 20th,2020
Europe Roundup: Sterling firms above 2-1/2 month lows vs dollar, European shares hit record high,Gold eases, Oil rises 2%-February 12th,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
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
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
Asia Roundup: Aussie near 11-year low as jobs data disappoint, greenback rallies to multi-year peak on stronger risk appetite, Asian shares surge - Thursday, February 20th, 2020
Asia Roundup: Antipodeans await coronavirus clarity, euro consolidates near 3-year low on growth concerns, Asian shares nudge higher - Monday, February 17th, 2020
America’s Roundup: Dollar climbs as weak German data dents euro, Wall Street falls, Gold hits 1-month peak, Oil falls nearly 1% on virus impact-February 19th,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: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
Asia Roundup: Kiwi rallies on RBNZ's hawkish stance, dollar gains against yen as new virus cases fall, Asian shares surge - Wednesday, February 12th, 2020
Asia Roundup: Aussie gains as business confidence slightly improves, Kiwi rebounds from near 4-month trough ahead RBNZ policy meeting, Asian shares nudge higher - Tuesday, February 11th, 2020
Asia Roundup: Aussie rebounds on upbeat wage data, euro slumps on weak economic outlook, greenback near 4-1/2 month peak as investors eye FMOC minutes - Wednesday, February 19th, 2020
Europe Roundup: Sterling slumps on EU trade talk concerns, euro consolidates near 1-week low following ECB Lagarde comments, European shares surge - Thursday, February 6th, 2020
America’s Roundup: Dollar rises on bullish data, Wall Street climbs, Gold drops, Oil edges up as recession fears ease but OPEC outlook weighs-August 17th,2019
• Dollar recovers composure after positive economic data
• Speculation grows of aggressive central bank easing
•Wall Street boosted by stimulus hopes
• US Jul Building Permits, 1.336M , 1.270M forecast, 1.232M previous
• US Jul Building Permits MoM 8.4%, 3.1% forecast, -5.2% previous
• US Jul Housing Starts 1.191M, 1.257M forecast,1.241M previous
• US Jul Housing Starts (MoM) -4.0%,-1.8% previous
• Canada Jun Foreign Securities purchases -3.98B, 10.28B previous
• Canada Jun Foreign Securities purchases by Canadians 6.61B, 4.12B previous
• Russia PPI (MoM) -2.7%,-0.6% previous
• Russia PPI (YoY) 1.1%,4.1% previous
• US Aug Michigan 5-Year Inflation Expectations 2.60%,2.50% previous
• US Aug Michigan Consumer Expectations -82.3, 89 forecast, 90.50 previous
• US Aug Michigan Current Conditions 107.4,110.4 forecast,110.4 previous
Looking Ahead - Economic Data (GMT)
• No Economic Data
Looking Ahead - Events, Other Releases (GMT)
• No Significant Events
EUR/USD: The euro declined against the U.S. dollar on Friday, as dollar rose on bullish economic data while expectations of central bank stimulus weighed on the single currency. U.S. homebuilding fell for a third straight month in July amid a steep decline in the construction of multi-family housing units, but a jump in permits to a seven-month high offered hope for the struggling housing market. Better-than-expected retail sales data in the United States on Thursday also encouraged buying of the dollar. The euro fell 0.14% to $1.1090, shy of the two-year low of $1.1025 it reached on Aug. 1. Friday's fall was caused by growing expectations of an interest rate cut by the European Central Bank after Governing Council member Olli Rehn suggested on Thursday that the central bank could restart its quantitative easing program and was open to extending it into equity purchases.Immediate resistance can be seen at 1.1145 (5 DMA), an upside break can trigger rise towards 1.1221 (50 DMA).On the downside, immediate support is seen at 1.1065 (Daily Low), a break below could take the pair towards 1.1000 (Psychological level).
GBP/USD: The British pound gained against dollar on Friday, as a combination of news and decent data provided enough ammunition to speculators to buy the struggling British currency. After being hit by growing concerns of Britain crashing out of the European Union without a deal by Oct. 31 after Boris Johnson became prime minister last month, the pound saw a brief reprieve this week.The pound advanced to an eight-day high versus the greenback and also jumped 1% against the euro currency , its biggest single day rise since late March. Economic data has also been favourable this week.British retail sales unexpectedly expanded in July and signaled that consumers were taking the prospect of Brexit in their stride for now, helped by firm wage data and modest inflation pressures, according to data released earlier this week.Immediate resistance can be seen at 1.2176 (Daily High), an upside break can trigger rise towards 1.2216 (21 DMA).On the downside, immediate support is seen at 1.2084 (5 DMA), a break below could take the pair towards 1.2000 (Psychological level).
USD/CAD: The Canadian dollar edged higher against its U.S. counterpart on Friday, with the currency rebounding from an eight-day low it hit the previous session as investor appetite for risk improved. Hopes of Chinese economic stimulus and rate cuts from some major central banks helped drive a broad rise in U.S. stocks, as a bruising week for markets drew to a close. Canada exports many commodities, including oil, so a better outlook for global economic growth could boost its economy. At (1958 GMT), the Canadian dollar was trading 0.32% higher at 1.3270 to the greenback. The currency, which on Thursday touched its weakest intraday level since Aug. 7 at 1.3339, was on track to fall 0.6% for the week. Immediate resistance can be seen at 1.3326 (Daily High), an upside break can trigger rise towards 1.3400 (Psychological level).On the downside, immediate support is seen at 1.3253 (11 DMA), a break below could take the pair towards 1.3200 (21 DMA).
USD/JPY: The U.S. dollar edged higher against the yen on Friday, after a surge in U.S. retail sales eased concerns about the world’s top economy, but traders cautioned against reading too much into one piece of data given the growing risks to the outlook.The greenback was on course for a weekly gain against safe-haven currencies such as the Japanese yen and the Swiss franc, pointing to some respite for frayed nerves after fears of recession and protests in Hong Kong rattled financial markets. This week’s inversion in the U.S. Treasury yield curve, which has historically preceded several past U.S. recessions, has stoked fresh worries about the economic impact of the Sino-U.S. trade war.Strong resistance can be seen at 107.15 (21 DMA), an upside break can trigger rise towards 107.62 (50 DMA).On the downside, immediate support is seen at 106.03 (61.8% retracement level), a break below could take the pair towards 105.65 (Aug 14th low).
European shares rebounded from six-months lows on Friday, ending a tumultuous week on a positive note as hopes of fiscal stimulus from Germany lifted sentiment and sparked a rally in the battered banks sector, helping them post their best day in 4-1/2 months.
The UK's benchmark FTSE 100 closed up by 0.71percent, Germany's Dax ended up by 1.31 percent, and France’s CAC finished the up by 1.22 percent.
Wall Street's three major indexes rose slightly on Friday as Intel's weak results put the techology sector under pressure and the energy index tumbled along with the price of oil and mixed first-quarter GDP data gave investors some pause.
Dow Jones closed up by 1.20 percent, S&P 500 ended up 1.44 percent, Nasdaq finished the day up by 1.67 percent.
Benchmark U.S. Treasury yields rose from three-year lows on Friday as investors evaluated how far damage from the U.S.-China trade war will spread, after the inversion of a key part of the yield curve this week raised fears of a U.S. recession.
Benchmark 10-year notes fell 9/32 in price on Friday to yield 1.556%, after reaching a three-year low of 1.475% on Thursday. Continuing concern about economic growth may send the yields below record lows of 1.321% reached in July 2016.
Gold fell on Friday as stocks and the dollar firmed, but fears of a slowing global economy and lack of clarity on the U.S.-China trade war kept bullion on track for a third straight weekly gain.
Spot gold was down 0.5% at $1,514.70 per ounce as of 1:42 p.m. EDT (1751 GMT), but is up over 1% so far this week.U.S. gold futures settled down 0.5% at $1,523.60.
Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns.
Brent crude was up 37 cents, or 0.6%, at $58.60 a barrel by 1:37 p.m. EDT (1737 GMT), after falling 2.1% on Thursday and 3% the previous day.
U.S. crude rose 26 cents to $54.73 a barrel, having dropped 1.4% in the previous session and 3.3% on Wednesday.