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America's Roundup:Dollar hits one-week high vs yen as risk sentiment improves, Gold slides , Oil steadies on U.S.-China trade talks optimism-November 26th,2019

Market Roundup

• U.S.-China ‘very close’ to phase one trade deal - report

• Brazil Oct Current Account (USD) -7.90B, -5.48B forecast, -3.50B previous

• Brazil Oct Foreign direct investment (USD) 6.80B, 7.50B forecast, 6.31B previous                           

• US Oct Chicago Fed National Activity -0.71, -0.45 previous

• US Sep Wholesale Sales (MoM) 1.0%, 0.3% forecast, -1.2% previous

• US Nov Dallas Fed Mfg Business Index -1.3, -11.3   forecast , -5.1 previous

Looking Ahead - Economic Data (GMT)

• 21:45 New Zealand Core Retail Sales (QoQ) 0.2% previous

• 21:45 New Zealand Retail Sales (QoQ) (Q3) 0.2% previous

• 21:45 New Zealand Retail Sales Quarterly Vs. Year Ago (Q3) 2.9% previous    

• 23:50 Japan Corporate Services Price Index (CSPI) (YoY) 0.5% previous          

• 05:00 Japan BoJ Core CPI (YoY) 0.3% previous       

Looking Ahead - Events, Other Releases (GMT)

• 23:50   Australia RBA Assist Gov Debelle Speaks 

• 00:00 US Fed Chair Powell Speaks                            
Currency Summaries

EUR/USD: The euro edged lower against the U.S. dollar on Monday,  as investors remained cautious about the outlook for the euro zone economy in the near term. Though latest data showed business morale in Germany, Europe’s biggest economy, improved slightly in November, growth prospects for the euro zone remained uncertain as business growth in the region almost ground to a halt this month.The dollar index, which measures the greenback against six major currencies, was 0.07 percent higher at 98.33. Immediate resistance can be seen at 1.1041 (50 DMA), an upside break can trigger rise towards 1.1082 (100 DMA).On the downside, immediate support is seen at 1.0987 (14th Nov low), a break below could take the pair towards   1.0900 (Psychological level).

GBP/USD: The pound edged higher against the dollar Monday, as polls continued to show the ruling Conservatives as runaway favourites to win the Dec. 12 election. The pound was last up by 0.4% at $1.2893, having risen earlier to $1.2913, edging up further from the 10-day lows it hit on Friday when dire Purchasing Managers’ Index (PMI) data highlighted the weak state of the UK economy and underscored the low possibility of interest rate hikes in the near future.  Immediate resistance can be seen at 1.2895 (9 DMA), an upside break can trigger rise towards 1.2987 (Nov 18th high).On the downside, immediate support is seen at 1.2819 (Daily low), a break below could take the pair towards 1.2764 (300 DMA).

USD/CAD: The Canadian dollar was little changed against its U.S. counterpart on Monday as domestic data showing increased wholesale trade offset signs that a strike at Canada's biggest railroad was set to continue. Canadian wholesale trade rose by 1.0% in September from August, much stronger than the 0.4% gain that was expected .Sales grew by 0.9% in volume terms.  At (1847 GMT), the Canadian dollar was trading nearly unchanged at 1.3277 to the greenback. Immediate resistance can be seen at 1.3335 (Hgher BB), an upside break can trigger rise towards 1.3382 (Sep 3rd  high).On the downside, immediate support is seen at 1.3258 (11 DMA), a break below could take the pair towards 1.3211 (50 DMA).

USD/JPY: The dollar strengthenrf against the Japanese yen on Monday, as growing signs the United States and China are inching closer to a trade deal boosted risk appetite. Broader markets remained focused on the likelihood of a trade agreement between the United States and China by year-end, which U.S. National Security Adviser Robert O’Brien said was still possible. At 1852 GMT, the dollar was 0.30 percent higher versus the Japanese yen at 108.94. Strong resistance can be seen at 108.97 (200 DMA), an upside break can trigger rise towards 109.47 (Nov 8th High).On the downside, immediate support is seen at 108.66 (9 DMA  ), a break below could take the pair towards 108.26 (50 DMA).

Equities Recap

European shares rose for the second straight session on Monday following reports that Washington and Beijing were nearing a trade agreement, while LVMH gained after signing a deal to buy U.S. jewellery chain Tiffany. 

The UK's benchmark FTSE 100 closed up by 0.95 percent, Germany's Dax ended up by 0.63 percent, and France’s CAC finished the down by 0.54 percent.

U.S. stocks edged higher on Wednesday, extending a strong start to the quarter as rising hopes of a trade deal with Beijing boosted investor sentiment.

At (GMT 1902), Dow Jones was up by 0.47 percent, S&P 500 was up 0.60 percent, Nasdaq was   up by 1.18 percent.

Treasuries Recap

U.S. Treasury yields were steady on Monday before the Treasury Department is due to sell $113 billion in coupon-bearing supply this week, and as investors focused on the likelihood that the United States and China will reach a trade deal.

Commodities Recap

Gold edged down to a one-week low on Monday after the United States and China expressed willingness to sign an initial trade deal by year-end, boosting market sentiment and driving investors to higher-risk assets.

Having fallen for the previous three sessions, spot gold was down 0.3% at $1,457.03 per ounce at 1201 GMT, afterearlier touching its lowest since Nov. 18 at $1,455.90. U.S. gold futures were down 0.5% at $1,456.90.

Oil prices were little changed on Monday as positive comments from the United States and China rekindled hopes in global markets that the world’s two largest economies could soon sign an interim deal to end their trade war.

Brent crude futures  were down 6 cents at $63.33 a barrel by 12:50 p.m. (1750 GMT) West Texas Intermediate (WTI) crude   was up 1 cent at $57.78.

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