America’s Roundup: Dollar notches small weekly gain after weak U.S. data, Wall Street gains, Gold hits 7-year high, Oil prices jump as demand shows signs of picking up-May 16th,2020
Asia Roundup: Aussie eases folloeing RBA Lowe's comments, greenback steadies on FOMC minutes, investors eye EZ Markit PMI's - Thursday, May 21st, 2020
Asia Roundup: Aussie rallies following RBA minutes, dollar gains against yen on vaccine hopes, Asian shares surge - Tuesday, May 19th, 2020
America’s Roundup: Dollar treads water against euro, Wall Street gains, Gold dips to two-week low, Oil falls on demand concerns, U.S.-China tensions-May 28th,2020
Europe Roundup: Euro buoyed as investor sentiment improves, European shares gain,Gold eases, Oil prices climb as faith in supply cuts grows-May 26th,2020
Asia Roundup: Aussie eases on Hong Kong unrest, dollar rallies against yen amid hopes of economic recovery, investors eye ECB Lagarde’s speech - Wednesday, May 27th, 2020
Asia Roundup: Dollar rallies against yen on easing of coronavirus lockdowns, Asian shares rally, investors eye U.S. consumer confidence data - Tuesday, May 26th, 2020
Europe Roundup: Euro as German survey fuels optimism, European shares rise, Gold dips, Oil falls as U.S.-China tensions take toll-May 25th,2020
Europe Roundup: Sterling tumbles on record-low retail data, trade tensions, European shares dip, Gold gains, Oil prices drop as China-U.S. tensions grow –May 22nd 2020
Asia Roundup: Aussie hits 1-week trough as jobs plunge, greenback rallies as Powell shuns negative rates, Asian shares slump - Thursday, May 14th, 2020
America’s Roundup: Dollar weakens as euro climbs on EU common fund proposal, Wall Street climbs, Gold firms, Oil rise on recovery hopes-May 21st 2020
America’s Roundup: Dollar dented as risk appetite ramps up, Wall Street gains, Gold eases, Oil prices rise as faith in supply cuts grows-May 27th,2020
America’s Roundup: Dollar climbs as U.S.-China tensions lift greenback, Wall Street ends mixed, Gold firms, Oil drops 4% on China-U.S. tensions, energy demand doubts-May 23rd 2020
Asia Roundup: Euro rallies on Franco-German proposal for recovery fund, Asian shares consolidate as vaccine hopes ease, investors eye FOMC minutes - Wednesday, May 20th, 2020
Europe Roundup: Sterling edges lower as Britain maintains fierce stance on Brexit, European stocks gain, Gold hits 3-week peak, Oil hits one-month high as signs of demand emerge amid coronavirus crisis-May 15th,2020
Europe Roundup: Euro gains against dollar ahead of Federal Reserve Chairman Jerome Powell’s speech, European shares slide, Gold steady, Oil holds near $30, caught between demand loss and supply cuts-May 13th,2020
Asia Roundup: Antipodeans surge on trade optimism, euro advances after ECB cuts key rate and approves restarting bond purchases, Asian shares rally - Friday, September 13th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index consolidated within narrow ranges as financial markets fully priced in a rate cut at the Federal Reserve’s September 17-18 policy meeting. The greenback against a basket of currencies traded flat at 98.28, having touched a low of 97.86 on Wednesday, its lowest since August 2
EUR/USD: The euro rose, extending previous session gains, following the European Central Bank’s surprise decision to resume government debt purchases from November to support a flagging economy. On Thursday, the ECB approved a fresh stimulus package as expected, cutting its deposit rate to a record low -0.5 percent from -0.4 percent and will restart bond purchases of 20 billion euros a month from November to support eurozone growth. The European currency traded 0.1 percent at 1.1070 in the prior session, having touched a high of 1.1087 on Thursday, its highest since August 29. Investors’ attention will remain on a series of data out from the Eurozone economies and EZ trade balance, ahead of the U.S. retail sales, import and export price index and business inventories. Immediate resistance is located at 1.1098 (August 28 High), a break above targets 1.1153 (August 23 High). On the downside, support is seen at 1.1037 (5-DMA), a break below could drag it below 1.0963 (August 30 High).
USD/JPY: The dollar rallied to a fresh 1-1/2 month peak as optimism about a resolution to the U.S.-China trade war continued to push Treasury yields higher. However, the upside appears limited as the U.S. Federal Reserve is widely expected to cut interest rates next week. The major was trading 0.1 percent up at 108.20, having hit a high of 108.25 earlier, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, import and export price index and business inventories. Immediate resistance is located at 108.37 (July 16 High), a break above targets 108.75 (July 25 High). On the downside, support is seen at 107.51 (5-DMA), a break below could take it lower at 106.92 (10-DMA).
GBP/USD: Sterling advanced, hovering towards a 6-week high hit earlier in the week as investors weighed up Britain's chances of securing a divorce deal with the European Union ahead of its scheduled departure from the bloc on October 31. The major traded 0.2 percent down at 1.2349, having hit a high of 1.2384 on Monday, it’s highest since July 26. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2384 (September 9 High), a break above could take it near 1.2456 (July 17 High). On the downside, support is seen at 1.2279 (September 6 Low), a break below targets 1.2252 (10-DMA). Against the euro, the pound was trading flat at 89.65 pence, having hit a high of 88.85 on Thursday, it’s highest since June 21.
AUD/USD: The Australian dollar steadied after rising to a 1-1/2 month peak in the previous session, as China's rate cut eased pressure on the Reserve Bank of Australia to do more, while the fading U.S.-China trade tensions boosted risk-appetite. The Aussie trades traded 0.1 percent up at 0.6873, having hit a high of 0.6894 on Thursday, it’s highest since July 31. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6848 (September 10 Low), a break below targets 0.6807 (September 6 Low). On the upside, resistance is located at 0.6916 (July 31 High), a break above could take it near 0.6955 (July 26 High).
NZD/USD: The New Zealand dollar rose, halting a 2-day losing streak on signs the United States and China were narrowing their differences over trade. The Kiwi trades 0.05 percent up at 0.6407, having touched a low of 0.6397 earlier, its lowest level since September 6. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6429 (August 20 High), a break above could take it near 0.6471 (August 13 High). On the downside, support is seen at 0.6381 (21-DMA), a break below could drag it below 0.6325 (September 4 Low).
Asian shares surged as hints of progress in U.S.-China trade talks and aggressive stimulus from the ECB eased worries about a global economic slowdown.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent.
Tokyo's Nikkei rose 1.1 percent to 22,004.61 points, Australia's S&P/ASX 200 index rallied 0.2 percent to 6,669.20 points.
Hong Kong’s Hang Seng traded 0.5 percent higher at 27,224.00 points.
China, South Korea and Taiwan markets were closed for public holidays.
Crude oil prices declined as optimism over an end to the U.S.-China trade war faded, leaving prices set for a weekly loss. International benchmark Brent crude was trading 0.3 percent lower at $60.17 per barrel by 0435 GMT, having hit a low of $58.89 on Thursday, its lowest since September 4. U.S. West Texas Intermediate was trading 0.3 percent down at $54.83 a barrel, after falling as low as $55.94 on Thursday, its lowest since September 4.
Gold prices edged lower as improved risk appetite amid signs of a thaw in the U.S.-China trade war drew investors away from the safe-haven metal. Spot gold fell 0.1 percent to $1,497.25 per ounce by 0502 GMT, having touched a low of $1,483.22 on Wednesday, its lowest since August 13 and was down about 0.6 percent this week, putting it on course for its third straight weekly drop. U.S. gold futures dipped 0.2 percent to $1,504.40 per ounce.
The Japanese government bond yields jumped across the curve, with the key 10-year yield hitting the highest level in six weeks. The 10-year JGB yield climbed 5 basis points to minus 0.165 percent, its highest since Aug. 1. In the super long zone, the 20-year yield rose 4.5 bps to 0.200 percent, while the 30-year and the 40-year yields jumped 5 bps each to six-week highs of 0.340 percent and 0.370 percent, respectively. Benchmark 10-year JGB futures fell 0.57 point to 154.07.