Asia Roundup: Antipodeans at 1-week peak on upbeat Chinese service data, greenback slumps as manufacturing activity contracts, Asian shares surge - Wednesday, September 4th, 2019
Europe Roundup: Sterling consolidates near 6-week peak, Swiss franc, yen declines as China exempts some U.S. goods from retaliatory tariffs, European shares at multi-week peak - Wednesday, September 11th, 2019
America's Roundup: Euro gains after ECB decision, yen weakens on trade hopes, Wall Street gains, Gold dips, Oil prices fall 1% on U.S.-China trade doubts, OPEC+ talks-September 13th, 2019
America's Roundup: Dollar dips after disappointing factory data, Wall Street rises,Gold steadies near multi-year peak, Oil prices rise over 4% on positive economic data from China-September 5th,2019
Asia Roundup: Aussie at 6-week peak amid optimism around U.S.-China trade talks, dollar gains against yen as risk appetite improves, Asian shares surge - Wednesday, September 11th, 2019
America's Roundup: Euro gains as bank relief offsets ECB stimulus, Wall Street ends mixed, Gold eases,Oil dips as demand concerns counter U.S.-China trade hopes-September 14th,2019
Europe Roundup: Sterling at 2-1/2 week trough as investors await parliament's return, euro slumps as EZ manufacturing activity contracts, greenback rallies amid holiday-thinned trading - Monday, September 2nd, 2019
Asia Roundup: Antipodeans rally as global tensions abate, greenback steadies on firm U.S. economic data, investors eye EZ Q2 GDP - Friday, September 6th, 2019
Asia Roundup: Antipodeans surge on trade optimism, euro advances after ECB cuts key rate and approves restarting bond purchases, Asian shares rally - Friday, September 13th, 2019
Asia Roundup: Antipodeans at multi-week peak, dollar rallies against yen as U.S. confirms trade talks with China, Asian shares surge - Thursday, September 5th, 2019
Asia Roundup: Antipodeans ease as China's slowdown deepens, dollar off highs against yen as Saudi facility attacks weaken risk sentiment, oil at 4-month peak - Monday, September 16th, 2019
Europe Roundup: Swiss franc, yen at 5-week lows as risk appetite improves, greenback gains as U.S. Treasury yields surge, sterling off 6-week peak amid persisting political uncertainty - Tuesday, September 10th, 2019
Asia Roundup: Aussie steadies as RBA stands pat, euro at 2-year low on ECB easing expectations, investors eye EZ producer price index - Tuesday, September 3rd, 2019
Europe Roundup: Sterling rallies as UK lawmakers try to avoid no-deal Brexit, euro steadies as Italian political tensions ease, European shares at 1-month peak - September 4th, 2019
America's Roundup: Dollar gains on trade optimism, strong U.S. data, Wall Street ends higher, Gold slides 2%, Oil prices slip-September 6th, 2019
America's Roundup: Dollar firms, ECB meeting in focus, Wall Street slips, Gold dips to near one-month low, Oil falls on possibility of Iran exports resuming after Trump fires hardline adviser-September 11th, 2019
America's Roundup: Dollar tumbles as U.S.-China trade tension intensifies, Wall Street slips, Gold soars 2%, Oil prices slides 3% as US-China trade war escalates-Aug 24th, 2019
• Dollar, stock markets slide
• Trump orders U.S. companies to look at closing China operations
• Powell says Fed will “act as appropriate
• Canada Jun Core Retail Sales (MoM) 0.9%,-0.1% forecast,-0.4% previous
• Canada Corporate Profits (QoQ) 5.2%,-0.3% previous
• Canada Jun Retail Sales (MoM) 0.0%,-0.1% forecast,-0.2% previous
• US Jul New Home Sales (MoM) -12.8%,-0.2% forecast,20.9% previous
• US Jul New Home Sales -635K,649K forecast,728K previous
• Brazil Jul CAGED Net Payroll Jobs 45.70K forecast, 48.44K previous
Looking Ahead - Economic Data (GMT)
• No Significant Data
Looking Ahead - Events, Other Releases (GMT)
• No Events Ahead
EUR/USD:The euro gained against dollar on Friday, as investors scaled back expectations for aggressive U.S. rate cuts. Two Federal Reserve officials said on Thursday they saw no reason to cut rates without new economic deterioration, a day after Fed meeting minutes showed policymakers disagreed on the rate cut last month. The Fed is caught between discord within the U.S. central bank over appropriate monetary policy and mounting outside pressure for more interest rate cuts. The euro was up 0.53 % at $1.1137. The dollar, measured against a basket of currencies, fell 0.66% to 97.58.Immediate resistance can be seen at 1.1147 (Daily High), an upside break can trigger rise towards 1.1208 (50 DMA).On the downside, immediate support is seen at 1.1113 (9 DMA), a break below could take the pair towards 1.1050 (Daily Low).
GBP/USD: The pound strengthened against dollar on Friday, after Federal Reserve Chair Jerome Powell set the stage for further interest rate cuts, leaning away from earlier comments by other Fed officials who said further easing was not necessary for now. Markets were divided on what they thought Powell would say at the Jackson Hole, Wyoming, symposium. Some expected he would announce a major stimulus measure to ease a deteriorating global economic outlook, while others believed he would downplay the chances of a September rate cut even though that has been fully priced in by investors. In his speech on Friday, Powell straddled the middle of both views, giving few clues as to what is to happen next at the September policy meeting. Powell said the U.S. economy is in a "favorable place" and the Fed will "act as appropriate" to keep the current economic expansion on track.. The pound was up 0.28% at $1.2284. Immediate resistance can be seen at 1.2287 (21 DMA), an upside break can trigger rise towards 1.2391 (50 DMA).On the downside, immediate support is seen at 1.2148 (21 DMA), a break below could take the pair towards 1.2100 (Psychological level).
USD/CAD: The Canadian dollar was little changed against its U.S. counterpart on Friday. as this week's stronger-than-expected domestic data was offset by reduced investor appetite for risk.U.S. stocks plunged in a broad sell-off as China and the United States traded their latest salvos in a prolonged trade war. Canada exports many commodities, including oil, so its economy could be hurt by a slowdown in the flow of global trade. Data this week showed Canada retail sales in June and inflation in July both beat expectations. .The Canadian dollar was last trading 0.4% higher at 1.3292 to the greenback. The Canadian dollar was trading nearly unchanged at 1.3296 to the greenback. The currency was down 0.2% for the week. Immediate resistance can be seen at 1.3356(Higher Bollinger Band), an upside break can trigger rise towards 1.3400 (Psychological level).On the downside, immediate support is seen at 1.3248 (21 DMA), a break below could take the pair towards 1.3178 (50 DMA).
USD/JPY: The U.S. dollar declined against the yen on Friday, after President Donald Trump ordered U.S. companies to start looking for an alternative to China after Beijing imposed more tariffs on American goods, further escalating tension between the world's two largest economies in a prolonged trade dispute. That triggered mass selling in the dollar, which fell from a three-week high against the euro and to one-week troughs versus the yen and Swiss franc. The dollar down 0.96% against the yen to 105.39 yen Strong resistance can be seen at 106.73 (21 DMA), an upside break can trigger rise towards 107.43 (50 DMA).On the downside, immediate support is seen at 105.23 (Daily Low), a break below could take the pair towards 105.00 (Psychological level).
All major European stock bourses turned negative and trade-sensitive stocks slid sharply on Friday after China announced plans to slap import tariffs on more U.S. goods, escalating the protracted spat between the world’s top two economies.
The UK's benchmark FTSE 100 closed down by 0.47 percent, Germany's Dax ended down by 1.15 percent, and France’s CAC finished the down by 1.14 percent.
Wall Street tumbled on Friday after the U.S.-China trade war escalated in dramatic fashion, with President Donald Trump demanding that American companies seek alternatives to doing business with China after Beijing announced its own slate of retaliatory measures.
Dow Jones closed down by 2.37 percent, S&P 500 ended down 2.59 percent, Nasdaq finished the day down by 3.00 percent.
Benchmark U.S. Treasury yields fell to their lowest levels in a week on Friday as an escalation in the U.S.-China trade war raised concerns about an economic downturn.
The two-year, 10-year yield curve inverted last week for the first time since 2007, a signal that a recession is likely in one to two years.
Gold surged 2% on Friday as investors interpreted U.S. Federal Reserve Chair Jerome Powell’s speech as leaning toward a dovish monetary policy stance and President Donald Trump’s latest comments exacerbated trade tensions with China.
Spot gold rose 1.9% at $1,526.60 an ounce by 14:08 pm EDT (1801 GMT), shaking off slight headwinds ahead of the Fed Chair’s speech.Prices earlier rose to $1,528.79, the highest since Aug. 13, when spot gold had scaled a six-year peak of $1,534.31.U.S. gold futures settled up 1.9% to $1,537.60.
Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods including crude oil, another escalation of a protracted trade dispute between the world’s two largest economies.
Brent crude futures fell 58 cents, or 1%, to settle at $59.34 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.18, or 2.1%, to settle at $54.17 a barrel.WTI lost 1.3% for the week, while Brent rose 1.2% during the week.