Europe Roundup: Euro notch up on US inflation data,European shares little changed, Gold subdued,Oil rises as IEA hikes 2022 demand growth forecast-August 11th,2022
America’s Roundup: Dollar steady before retail sales, Fed minutes, Wall Street ends mixed,Gold eases, Oil falls to 6-mth low on economic data, awaits news of Iran nuclear deal-August 17th,2022
America’s Roundup: Dollar jumps vs yen as Fed officials hint more rate hikes coming, Wall Street dips, Gold near 1-month high, Oil edges up ahead of OPEC meeting despite recession worries-August 3rd,2022
Europe Roundup:Euro gains on upbeat Eurozone GDP data, European shares rises, Gold gains,Oil prices rise as chances of OPEC+ supply boost dim-July 29th,2022
Europe Roundup: Sterling struggles as inflation outlook worsens sentiment, European shares gains, Gold near two-week low, Oil prices ease as Russia output increases-August 18th,2022
Europe Roundup: British pound falls against dollar on gloomy BoE outlook, European shares dips,Gold falls, Oil prices set to end week at multi-month lows on recession fears-August 5th,2022
America’s Roundup: Dollar slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,2022
America’s Roundup: Dollar falls on lower than expected US inflation data, Wall Street rallies, Gold edges lower, Oil rises on renewed gasoline demand, weak dollar-August 11th,2022
Europe Roundup: Sterling gains, shrugs off factory data ahead of BoE, European shares rise, Gold extends gains, Oil drops as weak Chinese factory data heightens demand concerns-August 1st,2022
Europe Roundup: Sterling slips as BoE delivers big rate hike but warns of long recession,European shares gains, Gold gains over 1%, Oil prices stabilize after drop to near 6-month low-August 4th,2022
America’s Roundup: Dollar edges higher as traders await U.S. inflation report, Wall ends lower, Gold ticks up, Oil settles lower as halted Russian pipeline flows appear temporary, demand fears rise-August 10th,2022
Europe Roundup: Sterling loses steam as traders turn to safe-haven currencies, European shares dips, Gold steadies, Oil slips as global demand concerns weigh, OPEC+ meeting eyed-August 2nd,2022
America’s Roundup: Dollar gains after stronger-than-expected payrolls data , Wall Street ends mixed, Gold dips 1%, Oil prices end week on multi-month lows on recession fears, Oil prices end week on multi-month lows on recession fears-August 6th,2022
America’s Roundup: Dollar gains on U.S. service sector data, Wall Street rallies, Gold little changed, Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build-August 4th,2022
America’s Roundup: Dollar edges down, Wall Street ends mixed , Gold gains, Oil prices hit lowest level since the invasion of Ukraine on recession fears-August 5th,2022
Europe Roundup: Euro slip to one-month low on renewed growth fears, European equities fall, Gold slips, Oil prices slip, headed for weekly loss as recession concerns bite-August 19th,2022
Asia Roundup: Antipodeans gain on prospects of U.S. rate cut, yen rallies against dollar amid growing geopolitical tension, Asian shares plunge - Tuesday, June 25th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index declined to a 3-month low as the yields on 10-year Treasuries slumped 120 basis points, its lowest since November. The greenback against a basket of currencies traded 0.1 percent down at 95.94, having touched a low of 95.84 earlier, its lowest since Mar. 21. FxWirePro's Hourly Dollar Strength Index stood at -33.37 (Neutral) by 0600 GMT.
EUR/USD: The euro rallied to a 3-month peak, as the greenback eased after the U.S. Federal Reserve last week signalled it would cut interest rates before year-end. The European currency traded 0.05 percent up at 1.1397, having touched a high of 1.1412 earlier, its highest since Mar. 21. FxWirePro's Hourly Euro Strength Index stood at 47.30 (Neutral) by 0600 GMT. Investors’ attention will remain on ECB De Guindos' speech, ahead of the U.S. consumer confidence, new home sales and speeches by Fed officials. Immediate resistance is located at 1.1437 (Mar. 21 High), a break above targets 1.1474 (Dec. 21 High). On the downside, support is seen at 1.1345 (Feb 26 Low), a break below could drag it below 1.1301 (Jun. 11 Low).
USD/JPY: The dollar plunged to a near 6-month low amid growing prospects of monetary easing by the Federal Reserve and fresh worries about the Middle East, after Iran shot down a U.S. military drone. The pair was trading 0.3 percent down at 106.99, having hit a low of 106.78 earlier, its lowest since Jan. 3. FxWirePro's Hourly Yen Strength Index stood at -54.42 (Bearish) by 0600 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer confidence, new home sales and speeches by Fed officials. Immediate resistance is located at 107.53 (38.2% retracement of 108.72 and 106.78), a break above targets 107.98 (61.8% retracement). On the downside, support is seen at 106.26 (Mar. 29, 2018), a break below could take it lower at 106.00.
GBP/USD: Sterling consolidated near a 1-month peak recorded in the previous session, as investors were reluctant to take big positions until the conclusion of the Conservative Party leadership contest. The major traded 0.1 percent up at 1.2751, having hit a high of 1.2766 on Monday, it’s highest since May 21. FxWirePro's Hourly Sterling Strength Index stood at 0.17 (Neutral) 0600 GMT. Investors’ attention will remain on the UK CBI distributive trades survey, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2798 (May 17 High), a break above could take it near 1.2853 (May 16 High). On the downside, support is seen at 1.2681 (Jun. 12 Low), a break below targets 1.2628 (Jun. 20 Low). Against the euro, the pound was trading 0.1 percent down at 89.39 pence, having hit a high of 88.72 on Thursday, it’s highest since Jun. 7.
AUD/USD; The Australian dollar surged to a 2-week peak, as the greenback weakened on expectations for an aggressive cut in interest rates by the Federal Reserve next month. The Aussie trades 0.05 percent up at 0.6960, having hit a high of 0.6972 earlier, it’s highest since Jun. 10. FxWirePro's Hourly Aussie Strength Index stood at 46.82 (Neutral) by 0600 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6925 (June 12 Low), a break below targets 0.6881 (May 24 Low). On the upside, resistance is located at 0.6994 (June 6 High), a break above could take it near 0.7022 (June 7 High).
NZD/USD: The New Zealand dollar advanced, extending gains for the sixth straight session, ahead of the Reserve Bank of New Zealand policy meeting, where it is expected to reiterate the dovish sentiments of other central banks. The Kiwi trades 0.3 percent up at 0.6641, having touched a high of 0.6608, its highest level June 10. FxWirePro's Hourly Kiwi Strength Index was at 4.16 (Neutral) by 0600 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6681 (June 7 High), a break above could take it near 0.7729 (Apr. 18 High). On the downside, support is seen at 0.6540 (May 27 Low), a break below could drag it below 0.6474 (Oct. 4 Low).
Asian shares tumbled as investors waited to see whether Trump and Chinese President Xi Jinping would at least call a truce in their trade war when they meet at the G20 summit in Osaka late this week.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.4 percent.
Tokyo's Nikkei plunged 0.4 percent to 21,193.81 points, Australia's S&P/ASX 200 index tumbled 0.1 percent to 6,658.00 points and South Korea's KOSPI slumped 0.3 percent to 2,121.11 points.
Shanghai composite index declined 0.8 percent to 2,984.25 points, while CSI 300 index traded 0.9 percent down at 3,804.05 points.
Hong Kong’s Hang Seng traded 1.3 percent lower at 28,140.82 points. Taiwan shares shed 0.7 percent to 10,706.72 points
Crude oil declined amid concerns over the outlook for crude demand, although the downside was limited after Washington announced new sanctions on Iran amid mounting tensions in the Middle East. International benchmark Brent crude was trading 0.7 percent higher at $64.30 per barrel by 0523 GMT, having hit a high of $65.74 on Friday, its highest since May 31. U.S. West Texas Intermediate was trading 0.7 percent down at $57.31 a barrel, after rising as high as $58.20 on Monday, its highest since the May 30.
Gold prices surged more than 1 percent to their highest level in 6-years as the dollar weakened on prospects of monetary easing by the Federal Reserve, while simmering U.S.-Iran tensions boosted the safe-havens demand. Spot gold was trading 0.8 percent at $1,430.90 per ounce by 0528 GMT, having touched a high of $1,439.14 on Friday, its highest since May 14, 2013; and is headed for a sixth consecutive session of gains. U.S. gold futures jumped 1.6 percent to $1,440.20 an ounce
The Japanese government bond prices rose, with the benchmark 10-year JGB futures rising 0.12 point to 153.94. The 10-year JGB yield fell 1.5 basis points to minus 0.170 percent. The 20-year JGB yield also declined by 1.5 basis points, to 0.200 percent. The 30-year JGB yield fell by 2.5 basis points to 0.320 percent.
The Australian government bond futures were mostly flat, with the 3-year and the 10-year bond contracts up half a tick at 99.140 and 98.705 respectively.
The New Zealand government bonds were barely moved.
The Canadian government bond prices were higher across the yield curve. The two-year rose 4.5 Canadian cents to yield 1.409 percent and the 10-year was up 24 Canadian cents to yield 1.459 percent. The gap between Canada's two-year yield and its U.S. equivalent narrowed by 1.8 basis points to a spread of 32.8 basis points in favor of the U.S. bond.