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America's Roundup:Dollar little changed in thin trading,Wall St trims gains ,Gold prices rise ,Oil prices dip as U.S. crude output hits record 12 million barrels per day-February 23rd,2019

Market Roundup

• U.S., China struggle to bridge trade gaps, more time seen likely

• China has agreed to buy up to $1.2 trln in U.S. goods -CNBC

• Fed eyes end to balance sheet reductions later this year

• Fed to keep open mind in review of strategy, tools, Clarida says
|
• Fed's Bullard says not ready to call for another U.S. rate cut -Fox Business

• Fed says U.S. economy ended 2018 with solid but weakening growth

• In hot job market, Fed still frets about low inflation

• Kuroda says BOJ will mull easing if economy loses momentum - Asahi

• Careful what you wish for, ECB's Draghi tells eurosceptics 

• France, Germany agree on joint proposal for euro zone budget

• "No deal in the desert," EU says of Brexit breakthrough in Egypt

• CA Dec Retail Sales M/M, -0.1%, -0.3% forecast, -0.9% previous

• CA Dec Budget Balance, C$, 2.45 bln, -2.22 bln previous

Looking Ahead - Economic Data (GMT)

• 24 Feb 21:45 New Zealand Q4, Retail Sales Volumes Q/Q, 0.00% previous

Looking Ahead - Events, Other Releases (GMT)

• 22:30 New York Fed's John Williams will speak before the first annual Joint Research Day on Quantitative Tools for Monitoring Macroeconomic and Financial Conditions in New York.

Currency Summaries

EUR/USD: The euro slipped lower against the U.S. dollar on Friday, as downbeat German economic data weighed on single currency. German business morale fell for the sixth time in succession in February, a survey showed on Friday, suggesting that company executives expect growth in Europe's biggest economy will continue to lose momentum. The euro was down 0.02 percent at $1.1332, erasing an earlier gains. An index that tracks the dollar versus a basket of six major currencies was down 0.16 at 96.46 .Immediate resistance can be seen at 1.1360 (21 DMA), an upside break can trigger rise towards 1.385 (50 DMA).On the downside, immediate support is seen at 1.1312 (11 DMA), a break below could take the pair towards 1.1275  (Feb 19th Low).

GBP/USD: British pound strengthened against the dollar on Friday, as investors adopted a wait-and-see approach as investors waited to see if discussion between the United Kingdom and the European Union can yield any result to the Brexit agreement. The pound is headed for a 1.2 percent rise for the week, breaking three consecutive weeks of losses. On a weekly basis, it was also the best performing currency among its major rivals.At 2110 GMT, the pound was up 0.14 percent at $1.3053, having touched $1.2952 daily low earlier. Immediate resistance can be seen at 1.3100 (Psychological level), an upside break can trigger rise towards 1.3190 (Higher Bollinger Band).On the downside, immediate support is seen at 1.2970 (Daily Low), a break below could take the pair towards 1.2937 (10 DMA).

USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Friday, as oil prices rose, while hopes of a resolution to the U.S-China trade dispute boosted Canadian dollar. The price of oil, one of Canada's major exports, were boosted by signs of progress in the ongoing trade talks between the United States and China. At (2119 GMT), the Canadian dollar was trading 0.63 percent higher at 1.3148. The loonie, which has been the top performing G10 currency since the start of the year, touched its weakest intraday since Tuesday at 1.3242. For the week, the loonie was on track to rise 0.4 percent. Immediate resistance can be seen at 1.3217 (21 DMA), an upside break can trigger rise towards 1.3339 (Higher Bollinger Band).On the downside, immediate support is seen at 1.3086 (Lower Bollinger Band), a break below could take the pair towards 1.3000 (Psychological level).

USD/JPY: The dollar little changed against Japanese yen on Friday, as signs that the United States and China might reach an agreement in trade talks improved investors sentiment . U.S. President Donald Trump and Chinese President Xi Jinping both said significant progress had been made in the trade talks and that a deal was possible in the near future. Xi's message was delivered in a letter to Trump.The dollar was 0.03 lower versus the Japanese yen at 110.63. The currency pair touched a daily high of 110.89. Strong resistance can be seen at 111.24 (Higher Bollinger Band), an upside break can trigger rise towards 111.45 (100 DMA).On the downside, immediate support is seen at 110.55 (9 DMA), a break below could take the pair towards 110.07 (21 DMA). 

Equities Recap

Europe's main share benchmarks rose marginally on Friday but company results including Sweden's Elekta and France's Sopra Steria drove big swings in stocks as investors awaited news from crucial U.S.-China trade talks.

UK's benchmark FTSE 100 closed up by 0.26 percent, the pan-European FTSEurofirst 300 ended the day up by 0.30 percent, Germany's Dax ended up by 0.40 percent, France’s CAC finished the day up by 0.46 percent.

U.S. stocks climbed and the Dow and Nasdaq posted a ninth straight week of gains on Friday as investors clung to signs of progress in the ongoing trade talks between the United States and China.

Dow Jones closed up by 0.96 percent, S&P 500 ended up 0.63 percent, Nasdaq finished the day up by 90 percent.

Treasuries Recap 

U.S. Treasury yields drifted lower on Friday afternoon as U.S. and Chinese trade negotiations came to a close for the week and members of the Federal Reserve commented about the bank's review of its monetary policy framework.

The yield on the 10-year note was 3.8 basis points lower, last at 2.650 percent. The two-year note was down 4 basis points at 2.489 percent and the 30-year bond yield was down 3.1 basis points at 3.015 percent.

Commodities Recap

Gold rose on Friday enroute to a second weekly gain as the dollar was subdued by weak U.S. economic data and hopes of a breakthrough in the U.S.-China trade dispute, with a darkening global economic outlook bolstering bullion.

Spot gold   was up 0.3 percent at $1,327.40 per ounce by 2014 GMT, or about 0.5 percent higher so far this week.U.S. gold futures settled down 0.4 percent at $1,332.80 per ounce.

Oil prices touched their highest since mid-November on Friday and posted weekly gains for the second week in a row, boosted by hopes that U.S.-China trade talks would soon produce a deal, although new record U.S. oil supply limited gains.

Brent crude futures   briefly reached $67.73 a barrel, their 2019 high. The global benchmark fell 5 cents to settle at $67.12 a barrel. Brent gained 1.2 percent on the week.
U.S. West Texas Intermediate (WTI) crude futures  gained 30 cents to settle at $57.26 per barrel, after hitting $57.81 earlier on Friday, also their highest for the year. WTI recorded a 3-percent weekly rise and reached its strongest settlement price of 2019.
 

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May 19 23:50 UTC Released

JPGDP QQ Pvt Consmp Prelim

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-0.1 %

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0.4 %

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1.9 %

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