Europe Roundup: Sterling at 1-month peak as UK economy shows unexpected strength, euro rallies as EZ investor morale improves, European shares surge - Monday, September 9th, 2019
Europe Roundup: Sterling eases as investors eye vote on early election, euro tumbles as EZ growth halves in Q2, markets await U.S. non-farm payroll report - Friday, September 6th, 2019
Asia Roundup: Antipodeans decline on downbeat Chinese new home prices, greenback gains ahead of Fed policy meeting, Asian shares tumble - Tuesday, September 17th, 2019
America’s Roundup: Dollar climbs on U.S. oil stockpile use after Saudi attacks,Wall Street dips, Gold rises 1%.Oil jumps nearly 15% in record trading after attack on Saudi facilities-September 17th, 2019
America's Roundup: Dollar gains ahead of ECB meeting, Wall Street gains, Gold climbs, Oil prices slide 2% after report Trump weighed easing Iran sanctions-September 12th,2019
Europe Roundup: Swiss franc, yen at 5-week lows as risk appetite improves, greenback gains as U.S. Treasury yields surge, sterling off 6-week peak amid persisting political uncertainty - Tuesday, September 10th, 2019
Asia Roundup: Aussie slumps on weak economic data, Kiwi tumbles as NZ posts current account deficit, greenback steadies ahead of Fed policy decision - Wednesday, September 18th, 2019
America's Roundup: Euro gains as bank relief offsets ECB stimulus, Wall Street ends mixed, Gold eases,Oil dips as demand concerns counter U.S.-China trade hopes-September 14th,2019
America’s Roundup: Dollar gains as Fed cuts rates, but easing outlook uncertain, Wall Street sinks, Gold slides 1%,Oil prices extend losses after Saudi pledge to restore lost output-September 19th,2019
Asia Roundup: Antipodeans ease as China's slowdown deepens, dollar off highs against yen as Saudi facility attacks weaken risk sentiment, oil at 4-month peak - Monday, September 16th, 2019
Europe Roundup: Sterling rallies above 1.2400 on Brexit deal hopes, gold set for third weekly decline, investors eye U.S. retail sales - Friday, September 13th, 2019
Europe Roundup: Sterling eases on worse-than-expected retail sales, Swiss franc rallies as SNB keeps policy steady, European shares surge - Thursday, September 19th, 2019
Asia Roundup: Antipodeans rally as global tensions abate, greenback steadies on firm U.S. economic data, investors eye EZ Q2 GDP - Friday, September 6th, 2019
Europe Roundup: Sterling gains as no-deal Brexit fears ease, euro at 1-week peak as new Italian coalition government unveils cabinet, European shares surge - Thursday, September 5th, 2019
America's Roundup: Euro gains after ECB decision, yen weakens on trade hopes, Wall Street gains, Gold dips, Oil prices fall 1% on U.S.-China trade doubts, OPEC+ talks-September 13th, 2019
Europe Roundup: Sterling off highs amid persisting no-deal Brexit concerns, greenback gains ahead of Fed policy meeting, oil rallies on Saudi facility attacks- Monday, September 16th, 2019
Asia Roundup: Antipodeans plunge on U.S.-China trade tensions, greenback eases as downbeat U.S. non-farm payrolls indicate another Fed rate cut, Asian shares at 6-1/2 month trough - Monday, August 5th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index slumped after data released on Friday showed U.S. non-farm payrolls increased by 164,000 jobs in July, fewer than the prior month, and wages increased modestly, cementing expectations that the Federal Reserve will cut interest rates again in September after it delivered its first rate reduction in more than a decade last month. The greenback against a basket of currencies traded 0.2 percent down at 98.87, having touched a high of 98.93 on Thursday, its highest since May 15, 2017.
EUR/USD: The euro rose, extending gains for the third straight session, as the greenback plunged on expectations that the Federal Reserve will cut interest rates again in September. The European currency traded 0.2 percent up at 1.1125, having touched a low of 1.1026 on Thursday, its lowest since May 2017. Investors’ attention will remain on Markit service PMI's from the Eurozone economies and EZ sentix investor confidence, ahead of the U.S. service PMI from both Markit and ISM. Immediate resistance is located at 1.1162 (31 July High), a break above targets 1.1225 (July 22 High). On the downside, support is seen at 1.1060 (July 31 Low), a break below could drag it below 1.026 (August 1 Low).
USD/JPY: The dollar plunged to a 7-month low against the Japanese yen amid mounting fears over a sharp escalation in the U.S.-China trade war. On Friday, Beijing vowed to retaliate against U.S. President Donald Trump’s abrupt decision to impose 10 percent tariffs on the remaining $300 billion in Chinese imports, a move that ended a month-long trade truce. The major was trading 0.6 percent down at 105.97, having hit a low of 105.78 earlier, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. service PMI from both Markit and ISM. Immediate resistance is located at 107.13 (38.2% retracement of 109.31 and 105.78), a break above targets 107.55 (50% retracement). On the downside, support is seen at 105.45, a break below could take it lower at 104.65.
GBP/USD: Sterling eased after rising to a 5-day peak earlier in the session after Prime Minister Boris Johnson declared that the UK would leave the European Union on October 31, with or without a transitional trade agreement. The major traded 0.2 percent down at 1.2135, having hit a low of 1.2079 on Thursday, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2253 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2305 (61.8% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading 0.5 percent down at 91.69 pence, having hit a low of 91.90 on Tuesday, it’s lowest since Sept 2017.
AUD/USD: The Australian dollar tumbled, extending losses for the twelfth straight session, as broadening fallout of the U.S.-China trade dispute saw investors rushing into perceived safe-haven assets. The Aussie trades 0.5 percent down at 0.6767, having hit a low of 0.6748 earlier, it’s lowest since Jan. 3. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6744 (Jan 3 Low), a break below targets 0.6700. On the upside, resistance is located at 0.6827 (23.6% retracement of 0.7082 and 0.6748), a break above could take it near 0.6876 (38.2% retracement).
NZD/USD: The New Zealand dollar slumped to a near 2-month low, after China vowed to fight back against Trump’s decision, a move that ended a month-long trade truce. The Kiwi trades 0.3 percent down at 0.6515, having touched a low of 0.6488 earlier, its lowest level June 14. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6559 (23.6% retracement of 0.6790 and 0.6488), a break above could take it near 0.6603 (38.2% retracement). On the downside, support is seen at 0.6474 (Oct. 4 Low), a break below could drag it below 0.6442 (Oct. 10 Low).
Asian shares tumbled to 6-1/2-month lows as a rapid escalation in the U.S.-China trade war sent investors stampeding into safe-haven assets.
MSCI's broadest index of Asia-Pacific shares outside Japan declined 2.1 percent.
Tokyo's Nikkei plunged 1.9 percent to 20,670.07 points, Australia's S&P/ASX 200 index fell 1.9 percent to 6,640.30 points and South Korea's KOSPI slumped 2.5 percent to 1,948.44 points.
Shanghai composite index eased 1.2 percent to 2,834.07 points, while CSI 300 index traded 1.5 percent down at 3,691.64 points.
Hong Kong’s Hang Seng traded 2.8 percent lower at 26,150.72 points. Taiwan shares shed 1.2 percent to 10,423.41 points.
Crude oil prices declined amid concerns about weaker crude demand after U.S. President Donald Trump said he would impose tariffs on more Chinese imports, potentially ramping up a trade war between both the economies. International benchmark Brent crude was trading 0.2 percent higher at $61.12 per barrel by 0427 GMT, having hit a low of $60.00 on Thursday, its lowest since June 13. U.S. West Texas Intermediate was trading 0.4 percent down at $54.97 a barrel, after falling as low as $53.58 on Thursday, its lowest since the June 19.
Gold prices surged to an over 6-week peak, boosted by a weaker greenback and escalating trade tension between the United States and China. Spot gold rose 0.9 percent to $1,452.65 per ounce by 0433 GMT, having touched a high of $1,455.98 earlier, its highest since May 2013. U.S. gold futures inched down 0.1 percent to $1,455.40 an ounce.
The Japanese government bond yields eased as a sharp decline in the Chinese yuan heightened worries about the fallout from the China-U.S. trade war. The benchmark 10-year JGB yield fell to as low as minus 0.200 percent, while the benchmark 10-year JGB futures rose as much as 0.36 point to a record high of 154.26. The 20-year JGB yield fell 3 basis points to 0.150 percent, while the 30-year JGB yield declined 4 bps to 0.285 percent.
Australian government bonds rallied during Asian session of the first trading day of the week, in continuation to investors’ risk-off sentiments after the United States late last week announced additional tariffs on Chinese goods, threatening stricter actions if no agreement is reached at the earliest. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged nearly 7-1/2 basis points to 1.025 percent, the yield on the long-term 30-year bond also slumped 7-1/2 basis points to 1.695 percent and the yield on short-term 2-year suffered 6-1/2 basis points at 0.731 percent by 05:10GMT.