Europe Roundup: Euro rebounds as investors attention turns to EU recovery fund talks, European Stocks dips,Oil dips on demand fears as OPEC+ considers output increase-July 14th,2020
America’s Roundup: Dollar falters as decent U.S. data curbs safe haven demand, Wall Street gains, Gold retreats from near 8-year peak, Oil prices firm on factory, inventory data-July 2nd, 2020
America’s Roundup: Dollar decline continues as investors parse economic data, earnings, Wall Street advances, Gold firms, Oil slips on surge in COVID-19 infections, U.S.-China tension-July 14th,2020
Asia Roundup: Aussie gains on upbeat retail sales, dollar consolidates within narrow ranges amid holiday-thinned trading, Asian shares at 4-month peak - Friday, July 3rd, 2020
America’s Roundup: Dollar little changed against Japanese yen as virus fears counter gains, Wall Street gains, Gold edges higher, Oil steady as hopeful economic data face spike in virus cases-July 7th,2020
Asia Roundup: Aussie gains on vaccine hopes, yen nudges higher as BoJ keeps monetary policy steady, Asian shares rally - Wednesday, July 15th, 2020
Europe Roundup: Euro hits 4-month high against dollar, European shares climb, Gold hits 1-week peak, Oil climbs after sharp drop in U.S. crude stocks; OPEC committee meeting in focus-July 15th,2020
Europe Roundup: Sterling heads for first weekly win against dollar, European stocks dips, Gold holds steady, Oil falls below $43 on virus fears, still heads for weekly gain-July 3rd 2020
Americas Roundup: U.S. dollar slides to two-week low,Wall Street inches up, Gold smashes through $1,800 level,Oil falls as rise in virus cases, U.S. inventories stall recovery-July 9th,2020
Asia Roundup: Aussie retreats from near 4-week peak on fresh lockdowns, dollar rebounds against yen on upbeat service sector data, Asian shares plunge - Tuesday, July 7th, 2020
America’s Roundup: U.S. dollar regains traction in FX markets, Wall Street drops, Gold retreats from near eight-year peak, Oil steadies as economic data overshadows coronavirus worries-July 8th,2020
Europe Roundup: Euro rises on upbeat Euro zone retail sales data, European shares gain, Gold ticks higher, Oil mixed on tighter supply, surge in U.S. virus cases-July 6th,2020
Europe Roundup: Sterling rises to three-week highs on news of Brexit talks, European shares slip, Gold steadies, Oil stable as rising virus cases, higher U.S. crude stockpiles stall recovery-July 8th,2020
America’s Roundup: Dollar turns higher as focus turns to surging coronavirus cases, Wall Street jumps, Gold gains, Oil up more than 2% on U.S. jobs data but virus fears cap gains-July 3rd 2020
Asia Roundup: Aussie eases as virus cases mount, gold steadies near more than 8-year high, Asian shares nudge lower - Wednesday, July 8th, 2020
Europe Roundup: Euro dips lower against dollar as markets balanced hopes for a global economic recovery, European stocks dips,Gold hits 8-year peak.Oil rises on manufacturing data, U.S. inventories-July 1st 2020
Asia Roundup: Antipodeans eases as soft Chinese PPI stoke deflation fears, dollar slumps against yen as weak U.S. retail sales support Fed's dovish stance, Asian shares plunge - Friday, February 15th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index nudged higher, hovering towards a near 2-month peak, after Fed Governor Lael Brainard stated that the U.S. Federal Reserve should stop paring its balance sheet by the end of this year, indicating the Fed could wind up with a permanently bigger balance sheet than had been expected earlier. The greenback against a basket of currencies trades 0.1 percent up at 97.08, having touched a high of 97.29 the day before, its highest since December 17. FxWirePro's Hourly Dollar Strength Index stood at 15.26 (Neutral) by 0400 GMT.
EUR/USD: The euro eased, reversing some of its previous session gains, weighed down by weaker-than-expected euro zone data and expectations the European Central Bank will keep monetary policy accommodative for the rest of the year. The European currency traded 0.1 percent down at 1.1285, having touched a low of 1.1248 on Thursday, its lowest since Nov. 13. FxWirePro's Hourly Euro Strength Index stood at -67.11 (Bearish) by 0400 GMT. Investors’ attention will remain on Eurozone trade balance and ECB Coeure's speech, ahead of the U.S. capacity utilization, industrial production, and export and import price index. Immediate resistance is located at 1.1329 (5-DMA), a break above targets 1.1368 (Feb.7 High).. On the downside, support is seen at 1.1216 (Nov. 13 Low), a break below could drag it till 1.1180.
USD/JPY: The dollar slumped to a 4-day low, as weak U.S. retail sales data reinforced expectations the Federal Reserve will not raise rates this year. On Thursday, the major rallied to a 1-1/2 month peak as investors cheered U.S. President Donald Trump's upbeat assessment of the trade talks with China. The major was trading 0.2 percent down at 110.29, having hit a high of 111.12 the day before, its highest since December 27. FxWirePro's Hourly Yen Strength Index stood at 48.27 (Neutral) by 0400 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of U.S. capacity utilization, industrial production, and export and import price index. Immediate resistance is located at 111.05 (Feb. 13 Low), a break above targets 111.40 (Dec. 26 Low). On the downside, support is seen at 110.11 (10-DMA), a break below could take it lower at 109.60 (Feb. 7 Low).
GBP/USD: Sterling consolidated near a 1-month low touched in the previous session after Prime Minister Theresa May lost a symbolic Brexit vote in parliament that undermined her pledge to European Union leaders to get her deal approved if they grant her concessions. The major traded flat at 1.2798, having hit a low of 1.2772 on Thursday; it’s lowest since January 15. FxWirePro's Hourly Sterling Strength Index stood at -90.62 (Slightly Bearish) 0400 GMT. Investors’ attention will remain on developments surrounding Brexit deal and UK retail sales, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2927 (10-DMA), a break above could take it near 1.2996 (February 7 High). On the downside, support is seen at 1.2766 (Nov 22 Low), a break below targets 1.2728 (Jan. 10 Low). Against the euro, the pound was trading flat at 87.18 pence, having hit a low of 88.39 on Thursday, it’s lowest since Jan. 21.
AUD/USD: The Australian dollar eased after data showed China's producer price inflation slowed for a seventh straight month in January to its weakest since September 2016. The selling pressure intensified after Reserve Bank of Australia Assistant Governor Christopher Kent welcomed the domestic currency's decline given there was still slack in the labour market and inflation remained below target. The Aussie trades 0.3 percent down at 0.7087, having hit a high of 0.7135 on Wednesday; it’s highest since February 6. FxWirePro's Hourly Aussie Strength Index stood at -46.73 (Neutral) by 0400 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7044 (Dec. 26 Low), a break below targets 0.7016 (Dec. 27 Low). On the upside, resistance is located at 0.7166 (January 24 High), a break above could take it near 0.7203 (January 28 High).
NZD/USD: The New Zealand dollar retreated from a 1-week peak hit in the prior session as China faced the risk of a return to deflation, amid concerns of no apparent agreement in sight in U.S.-China trade talks. The Kiwi trades 0.2 percent down at 0.6821, having touched a high of 0.6855 on Thursday, its highest level Feb. 6. FxWirePro's Hourly Kiwi Strength Index was at 153.37 (Highly Bullish) by 0400 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6862 (Jan. 29 High), a break above could take it near 0.6911 (Dec. 11 High). On the downside, support is seen at 0.6766 (Feb. 6 Low), a break below could drag it below 0.6706 (Jan. 22 Low).
Asian shares slumped after data showed China's producer prices slow for 7th straight month, raising concerns the Chinese economy may see the return of deflation as domestic demand cools.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.3 percent.
Tokyo's Nikkei declined 1.2 percent to 20,876.89 points, Australia's S&P/ASX 200 index gained 0.1 percent to 6,066.10 points and South Korea's KOSPI fell 1.6 percent to 2,189.94 points.
Shanghai composite index eased 0.8 percent to 2,697.63 points, while CSI300 index traded 1.2 percent down at 3,360.87 points.
Hong Kong’s Hang Seng traded 1.7 percent lower at 27,939.77 points. Taiwan shares shed 0.3 percent to 10,064.78 points.
Crude oil prices surged to a near 3-month peak, amid U.S. sanctions against Venezuela and Iran and supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC). International benchmark Brent crude was trading 0.6 percent up at $65.00 per barrel by 0439 GMT, having hit a high of $65.08 earlier, its highest since November 20. U.S. West Texas Intermediate was trading 0.5 percent higher at $54.69 a barrel, after rising as high as $54.94, its highest since the February 5.
Gold prices steadied as the dollar weakened slightly after disappointing U.S. data indicated slowing economic momentum that supported the U.S. Federal Reserve's patient monetary policy approach. Spot gold was trading flat at $1,312.59 per ounce at 0447 GMT, having touched a high of $1,318.02 on Wednesday, its highest level since February 4. U.S. gold futures were up 0.1 percent at $1,315 an ounce.
The Japanese government bond prices rose as U.S. Treasuries held on to overnight gains. The 10-year JGB futures rose 0.06 points to 152.85, the benchmark 10-year cash JGB yield fell one basis point to minus 0.025 percent. The 20-year yield declined 1.5 basis points to 0.415 percent, the 30-year yield eased 2.5 basis points to 0.590 percent, and the 40-year yield also gave up 2.5 basis points to 0.665 percent.
The Australian government bond futures rose, with the three-year bond contract adding 2.5 ticks to 98.340, while the 10-year contract rose 4 ticks to 97.8950.
The yields on New Zealand's 2-year paper shot back up to 1.725 percent having hit historic lows at 1.61 percent early in the week
The Canadian government bond prices were higher across the yield curve in sympathy with U.S. Treasuries. The two-year rose 8.5 Canadian cents to yield 1.768 percent and the 10-year climbed 47 Canadian cents to yield 1.880 percent.