Asia Roundup: Kiwi halts 5-day losing streak ahead of RBNZ policy meeting, dollar eases against yen amid persisting U.S.-China trade deal concerns, Asian shares plunge - Monday, November 11th, 2019
Europe Roundup: Sterling consolidates near 1.2800 amid persisting Brexit concerns, euro tumbles ahead of Spanish election, greenback at 3-week peak on U.S.-China trade hopes - Friday, November 8th, 2019
America’s Roundup: Dollar little changed as spotlight remains firmly on US-China trade war, Wall Street edges lower, Gold eases, Oil rises to two-month high -November 22nd 2019
Europe Roundup: Sterling halts 4-day rally on doubts over Conservative Party's win in election, greenback rebounds as investors await Fed meeting minutes, European shares rally - Tuesday, November 19th, 2019
Europe Roundup: Sterling gains as no-deal Brexit chances ease, euro steadies near 1-month low as Euro zone industry output rises, European shares off 4-month peak - Wednesday, November 13th, 2019
America’s Roundup: Dollar dips as risk-off mood boosts yen, Wall Street slips, Gold rises, Oil mixed amid U.S. crude stock build-November 15th, 2019
Asia Roundup: Antipodeans tumble on concerns of delay in U.S.-China trade deal, gold near 2-week peak, investors eye ECB policy meeting minutes - Thursday, November 21st, 2019
Asia Roundup: Kiwi at 1-week peak as RBNZ stands pat, greenback consolidates ahead of Fed Chair Powells' testimony, Asian shares tumble - Wednesday, November 13th, 2019
Americas Roundup: Dollar firmer as trade tensions support,Gold slips, Wall Street dips, Oil jumps over 2% after U.S. inventory data, Russia OPEC comments-November 21st,2019
Europe Roundup: Sterling consolidates below 1.2900 amid persisting concerns over economic outlook, euro gains on better-than-expected EZ trade surplus, European shares plunge - Friday, November 15th, 2019
America’s Roundup: Dollar little changed after Trump speech reveals little on trade, Gold prices dip, Oil prices dip-November 13th,2019
Asia Roundup: Antipodeans steady as China cuts repo rate, dollar rallies against yen on optimism over U.S.-China trade deal, Asian shares nudge higher - Monday, November 18th, 2019
Europe Roundup: Sterling steadies as UK economy grows at slowest annual rate, euro holds near 4-week trough amid political turmoil, European shares tumble - Monday, November 11th, 2019
America’s Roundup: Dollar buoyed by U.S.-China tariffs pledge, Wall Street little changed, Oil falls amid doubts over US-China trade deal-November 9th,2019
Asia Roundup: Antipodeans steady, dollar halts 5-day losing streak against yen on U.S.-China trade deal hopes, investors eye EZ inflation data - Friday, November 15th, 2019
America's Roundup: Dollar buoyed by caution as trade deal optimism wanes, Wall Street gains, Gold slips, Oil prices gain 2% despite concerns about rising supplies-November 16th,2019
Asia Roundup: Antipodeans at multi-week peaks, gold surges above $1,450 as Fed props up rate cut expectations, Asian shares rally - Friday, July 19th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rebounded from a 2-week low as early Friday statements from the New York Fed nullified effects of the President John Williams comments favoring 50 basis points Fed rate cut. The greenback against a basket of currencies traded 0.2 percent up at 96.86, having touched a low of 96.67 on Thursday, its lowest since June 4.
EUR/USD: The euro eased, reversing some of its previous session gains, following a Bloomberg report that the European Central Bank staff is studying a potential change to the bank's inflation target of near 2 percent, which would potentially leave the door open for more ECB stimulus to continue for a longer period. The European currency traded 0.2 percent down at 1.1261, having touched a low of 1.1199 on Wednesday, its lowest since July 9. Investors’ attention will remain on the EZ current account data, ahead of the U.S. Michigan prelim consumer sentiment index and Fed officials' speech. Immediate resistance is located at 1.1304 (50.0% retracement of 1.1412 and 1.1193), a break above targets 1.1329 (61.8% retracement). On the downside, support is seen at 1.1225 (June 20 Low), a break below could drag it below .1193 (July 9 Low).
USD/JPY: The dollar rebounded after falling to a 3-week low in the previous session on New York Federal Reserve President John Williams' comments. On Thursday, Williams argued for pre-emptive measures to avoid having to deal with low inflation and interest rates, cementing the case of a big rate cut at the end of this month. The pair was trading 0.3 percent up at 107.61, having hit a low of 107.21 earlier, its lowest since June 26. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. Michigan prelim consumer sentiment index and Fed officials' speeches. Immediate resistance is located at 108.11 (July 15 High), a break above targets 108.53 (July 1 High). On the downside, support is seen at 107.10 (June 26 Low), a break below could take it lower at 106.78 (June 25 Low).
GBP/USD: Sterling eased, halting a 2-day rally after Boris Johnson, the favourite to succeed Prime Minister Theresa May, said Britain must leave the European Union by Oct. 31 with or without a deal. On Thursday, the British pound gained as British lawmakers supported proposals to make it harder for the next prime minister to force through a no-deal Brexit by suspending Parliament. The major traded 0.1 percent down at 1.2529, having hit a low of 1.2382 on Wednesday, it’s lowest since Jan. 3. Investors’ attention will remain on the development surrounding Brexit and UK public sector net borrowing, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2591 (July 4 High), a break above could take it near 1.2648 (July 2 High). On the downside, support is seen at 1.2494 (5-DMA), a break below targets 1.2439 (July 9 Low). Against the euro, the pound was trading flat at 89.85 pence, having hit a low of 90.51 on Wednesday, it’s lowest since Jan. 11.
AUD/USD: The Australian dollar slightly eased from a near 3-month low as the greenback rebounded after New York Fed’s statements poured cold water on the President Williams dovish comments. The Aussie trades 0.1 percent down at 0.7068, having hit a high of 0.7082 earlier, it’s highest since Apr. 24. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7030 (5-DMA), a break below targets 0.6985 (July 3 Low). On the upside, resistance is located at 0.7091 (Mar 12 High), a break above could take it near 0.7147 (Mar 26 High).
NZD/USD: The New Zealand dollar rallied to a 3-1/2 month high as the Federal Reserve's anticipated monetary easing supported the kiwi. The major trades 0.1 percent up at 0.6780, having touched a high of 0.6790 earlier, its highest level Apr. 4. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6823 (Mar. 29 High), a break above could take it near 0.6858 (Mar. 15 High). On the downside, support is seen at 0.6724 (5-DMA), a break below could drag it below 0.6664 (July 1 Low).
Asian shares surged after a top Federal Reserve official cemented expectations of a U.S. interest rate cut later this month.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.0 percent.
Tokyo's Nikkei rallied 2.0 percent to 21,466.99 points, Australia's S&P/ASX 200 index surged 0.8 percent to 6,700.30 points and South Korea's KOSPI advanced 1.3 percent to 2,094.1202 points.
Shanghai composite index rose 0.8 percent to 2,925.04 points, while CSI 300 index traded 1.1 percent up at 3,807.81 points.
Hong Kong’s Hang Seng traded 1.1 percent higher at 28,758.13 points. Taiwan shares added 0.7 percent to 10,873.19 points.
Crude oil prices surged by more than 1 percent after the U.S. Navy destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows, raising tensions in the Middle East. International benchmark Brent crude was trading 1.05 percent higher at $63.07 per barrel by 0505 GMT, having hit a low of $61.26 on Thursday, its lowest since June 18. U.S. West Texas Intermediate was trading 0.9 percent up at $56.11 a barrel, after falling as low as $54.71 on Thursday, its lowest since the June 20.
Gold prices rallied above the key $1,450 level for the first time since May 2013, after comments from a Federal Reserve official bolstered expectations of an interest rate cut, while fresh tensions in the Middle East further supported the safe-haven demand. Spot gold eased 0.1 percent to $1,443.71 by 0510 GMT, having touched a high of $1,452.80 earlier, its highest since May 10, 2013, and has gained nearly 2 percent so far this week, on track for a second consecutive weekly gain. U.S. gold futures jumped 1.1 percent to $1,444.10 an ounce.
The Japanese government bond prices surged, with the 10-year JGB futures rising 0.04 point to 153.59, extending their recovery from a 1-1/2-month low of 153.32 set on Tuesday. The 10-year JGB yield was flat at minus 0.14 percent, while the 20-year JGB yield was flat at 0.225 percent. The two-year JGB yield fell 0.5 basis point to minus 0.205 percent and the five-year JGB yield also fell 0.5 basis point, to minus 0.235 percent.
The Australian government bonds traded range bound during Asian session amid a muted trading session that witnessed data of little economic significance ahead of the Reserve Bank of Australia’s Phillip Lowe and Christopher Kent speeches scheduled next week. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, traded flat at 1.347 percent, the yield on the long-term 30-year bond also remained steady at 1.995 percent and the yield on short-term 2-year rose over 2 basis points to 0.952 percent.