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
Asia Roundup: Aussie eases as virus cases mount, gold steadies near more than 8-year high, Asian shares nudge lower - Wednesday, July 8th, 2020
America’s Roundup: U.S. dollar rises as surge in coronavirus cases boosts haven bid,Wall Street falls, Gold slides, Oil settles lower on rise in U.S. coronavirus cases-June 27th,2020
America’s Roundup: Dollar edges lower amid uncertain U.S. outlook, Wall Street gains,Gold gains, Oil slips slightly on rising coronavirus cases, returning Libyan supplies-1st July 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
Europe Roundup: Sterling slips further to $1.24, weighed down by Brexit,European shares rise, Gold on course for third weekly gain, Oil prices inch up as demand upswing counters virus concerns-June 26th,2020
Asia Roundup: Japanese yen gains as China passes national security law, dollar steadies as investors eye U.S. manufacturing PMI, Asian shares nudge higher - Wednesday, July 1st, 2020
Europe roundup: Sterling gains as dollar sags, investors eye month-end for trade deal, European stocks surge,Gold steadies off 8-year high, Oil prices gain on fall in U.S. crude stockpiles-July 2nd 2020
Europe Roundup: Sterling gains on infrastructure spending promise, Brexit caps gains, European shares gain Gold holds close to near 8-year peak, Oil rises on improving economic data, supply cut-June 29th,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
America’s Roundup: Dollar recovers some overnight losses , Wall Street gains,Gold steadies near multi-year peak, Oil rises on improving economic data but virus case jump caps gains-June 30th,2020
Asia Roundup: Dollar gains as signs of recovery boost risk appetite, Asian shares rally, investors eye EZ CPI - Tuesday, June 30th, 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
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
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: Dollar gains as virus concerns dents risk appetite, Wall Street ends higher ,Gold steadies, Oil prices climb as U.S. economic data lends support-June 26th,2020
Asia Roundup: Aussie at 1-month low on downbeat employment data, dollar eases against yen amid renewed U.S.-China trade deal concerns, Asian shares slump - Thursday, November 14th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged after U.S. Federal Reserve Chair Jerome Powell on Wednesday told the Joint Economic Committee that negative interest rates sought by Trump are not appropriate for the U.S. economy right now. The greenback against a basket of currencies traded 0.1 percent up at 98.41, having touched a high of 98.45 on Wednesday, its highest since October 15.
EUR/USD: The euro slumped to a 1-month low after yesterday's data showed the German economy contracted by 0.1 percent during the second quarter. However, the downside appears limited as political concerns in Spain eased after Socialists agreed a coalition with the far-left Unidas Podemos party. The European currency traded 0.1 percent down at 1.0996, having touched a low of 1.0995 earlier, its lowest since October 15. Investors’ attention will remain on a series of data from the Eurozone economies, EZ gross domestic product and employment change, ahead of the U.S. producer price index, unemployment benefit claims and Fed officials' speeches. Immediate resistance is located at 1.1042, a break above targets 1.1062. On the downside, support is seen at 1.0985, a break below could drag it below 1.0957.
USD/JPY: The dollar plunged to an over 1-week low as the trade talks negotiations between the U.S. and China stalled after China expressed it did not want a deal that looked one-sided in the favor of the United States. Moreover, data showing China’s industrial production growth slowed sharply in October, rising 4.7 percent year-on-year, missing forecasts of 5.4 percent, while retail sales also slowed to fall short of expectations and investment growth hit a record low further undermined the bid tone around the pair. The major was trading 0.1 percent down at 108.71, having hit a low of 108.62 earlier, its lowest since November 5. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index, unemployment benefit claims and Fed officials' speeches. Immediate resistance is located at 109.07 (5-DMA), a break above targets 109.62 (May 31 High). On the downside, support is seen at 108.49, a break below could take it near at 108.24.
GBP/USD: Sterling tumbled after data released yesterday showed, UK's inflation fell in October to its lowest level in nearly three years, adding to expectations that the Bank of England’s next move might be an interest rate cut. The major traded 0.2 percent down at 1.2830, having hit a high of 1.2897 on Monday, it’s highest since November 5. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2904, a break above could take it near 1.2972 (November 1 High). On the downside, support is seen at 1.2806, a break below targets 1.2768. Against the euro, the pound was trading 0.1 percent down at 85.71 pence, having hit a high of 85.57 on Monday, it’s highest since May 8.
AUD/USD: The Australian dollar tumbled to a near 1-month low after data showed domestic unemployment rate increased and the economy shed jobs for the first time in 17 months, adding to evidence that central bank interest-rate cuts are failing to gain much traction. The jobless rate increased to 5.3 percent in October from 5.2 percent, while the under-utilization rate, which combines unemployment and under-employment, rose 0.3 point to 13.8 percent. The Aussie trades 0.5 percent down at 0.6799, having hit a low of 0.6795 earlier, it’s lowest since October 17. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6784, a break below targets 0.6758. On the upside, resistance is located at 0.6876, a break above could take it near 0.6907.
NZD/USD: The New Zealand dollar declined from a 9-day peak, weighed down by doubts over whether the United States and China will be able to reach a preliminary trade deal. The Kiwi trades 0.3 percent down at 0.6392, having touched a high of 0.6418 earlier, its highest level since November 5. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6426, a break above could take it near 0.6435. On the downside, support is seen at 0.6373 (21-DMA), a break below could drag it below 0.6326.
Asian shares declined after China's soft economic data showed the trade war between Beijing and Washington hitting growth in the Chinese economy.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.4 percent.
Tokyo's Nikkei declined 0.8 percent to 23,141.55 points, Australia's S&P/ASX 200 index surged 0.6 percent to 6,735.10 points and South Korea's KOSPI rallied 0.2 percent to 2,126.93 points.
Shanghai composite index rose 0.2 percent to 2,909.53 points, while CSI 300 index traded 0.2 percent up at 3,905.82 points.
Hong Kong’s Hang Seng traded 0.9 percent lower at 26,339.29 points. Taiwan shares shed 0.2 percent to 11,450.42 points.
Crude oil prices rose to a 1-week peak, following an industry report showing a decline in U.S. crude stockpiles last week. International benchmark Brent crude was trading 0.5 percent up at $62.83 per barrel by 0545 GMT, having hit a low of $61.19 on Wednesday, its lowest since November 8. U.S. West Texas Intermediate was trading 0.4 percent higher at $57.56 a barrel, after falling as low as $56.17 on Wednesday, its lowest since November 7.
Gold prices surged as Asian equities declined after weaker-than-expected economic data out of China weighed on risk appetite. Spot gold was trading 0.1 percent up at $1,465.19 per ounce by 0548 GMT, having touched a low of $1,445.51 on Tuesday, its lowest August 5. U.S. gold futures rose 0.1 percentto $1,464.80 per ounce.
The Australian 10-year government bond yield slumped to over 1-week low during Asian session after the country’s employment report for the month of October created a surprise disappointment among investors, as jobless rate rose and employment change slumped. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged over 9-1/2 basis points to 1.180 percent, the yield on the long-term 30-year bond slumped over 10 basis points to 1.782 percent and the yield on short-term 2-year plummeted nearly 7 basis points to 0.794 percent.