Asia Roundup: Dollar steadies as Hong Kong tensions weigh, euro rallies on massive EU stimulus plan, Asian shares trim gains - Thursday, May 28th, 2020
Europe Roundup: Euro gains for the seventh day against dollar ,European shares rise, Gold dips, Oil tops $40 on OPEC cuts and demand recovery-June 3rd 2020
America’s Roundup: Dollar dips as improved risk appetite, EU recovery fund hopes boost euro, Wall Street ends down, Gold gains, Oil rises as higher U.S. refinery rates offsets surprise crude build-May 29th,2020
Europe Roundup: Euro falls ahead of ECB meeting, European shares inch lower, Gold gains, Oil drops on U.S. inventories and doubts over output cuts-June 3rd, 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
America’s Roundup: Dollar falls as other economies enter recovery, Wall Street ends higher, Gold slumps 2%,Oil moves higher, hovers below $40 as doubts emerge over next step on OPEC cuts-June 4th,2020
Asia Roundup: Aussie rallies to 5-month peak on better-than-expected Chinese service PMI, greenback slumps amid mass protests against racism, Asian shares surge - Wednesday, June 3rd, 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
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 buoyed as investor sentiment improves, European shares gain,Gold eases, Oil prices climb as faith in supply cuts grows-May 26th,2020
Europe Roundup: Euro steady as doubts over EU recovery fund arise,European shares gains,Gold gains, Oil prices steady,awaiting confirmation of surprise U.S. inventory build-May 28th,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
Europe Roundup: Euro hits 11-week high against dollar, European shares gains, Gold slips on recovery hopes. Oil prices rise ahead of OPEC+ meeting on output cuts-June 2nd 2020
Europe Roundup: Euro rise as investors focus on turns EU recovery plan, European shares edge higher, Gold dips to two-week low, Oil falls on U.S.-China tensions over Hong Kong-May 27th,2020
Asia Roundup: Aussie eases on worsening U.S.-China tensions, dollar rallies against yen as risk sentiment slightly improves on potential Japanese stimulus, Asian shares consolidate - Monday, May 25th, 2020
Asia Roundup: Dollar slumps as markets await Trump's Hong Kong response, euro at 2-month peak ahead of EZ prelim CPI, Asian shares plunge - Friday, May 29th, 2020
Asia Roundup: Aussie at 1-week peak on more stimulus hopes, greenback rebounds from recent lows as panic selling eases, Asian shares surge - Friday, March 27th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index nudged up after falling to an over 1-week low earlier in the day as the U.S. House of Representatives Speaker said she expected the chamber to pass an estimated $2.2 trillion virus relief bill when it meets on Friday, following the Senate’s approval on Wednesday. The greenback against a basket of currencies traded 0.05 percent up at 99.46, having touched a low of 99.46 earlier, its lowest since Mar. 17.
EUR/USD: The euro surged to a 10-day peak, as the greenback eased on data showing an unprecedented rise in U.S. jobless claims that highlighted the virus’ devastating impact on the economy. The European currency traded 0.3 percent up at 1.1066, having touched a high of 1.1086 earlier, its highest since March 17. Investors’ attention will remain on a series of data from the Eurozone economies, ahead of the U.S. personal consumption expenditure, personal income and spending. Immediate resistance is located at 1.1166 (61.8% retracement of 1.1495 and 1.0635), a break above targets 1.1221. On the downside, support is seen at 1.0964, a break below could drag it below 1.0824.
USD/JPY: The dollar plunged to a 1-week low after data showed the number of Americans filing claims for unemployment benefits surged to a record of more than 3.28 million last week as strict measures to contain the coronavirus pandemic unleashed a wave of layoffs. The major was trading 0.9 percent down at 108.47, having hit a high of 111.71 on Tuesday, its highest since Feb. 24. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. personal consumption expenditure, personal income and spending. Immediate resistance is located at 110.08, a break above targets 110.78. On the downside, support is seen at 107.77 (21-DMA), a break below could take it near at 107.04.
GBP/USD: Sterling rallied as the Bank of England on Thursday said it was prepared to take further action to limit the economic damage from the coronavirus outbreak and held benchmark rates at record lows. The major traded 0.3 percent higher at 1.2232, having hit a low of 1.1409 last week, it’s lowest since 1985. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2394 (21-DMA), a break above could take it near 1.2516 (61.8% retracement of 1.3200 and 1.1406). On the downside, support is seen at 1.2051, a break below targets 1.1933. Against the euro, the pound was trading 0.05 percent up at 90.32 pence, having hit a low of 94.99 last week, it’s lowest since Mar. 2009.
AUD/USD: The Australian dollar rose, having gained more than 10 percent from its 17-year low of $0.5506 touched on Thursday last week. Investors appear to have ignored the record decline in China’s industrial profits. Data released earlier in the day showed China’s Industrial Profits plunged 38.3 percent YoY, for January-February. The Aussie trades 0.4 percent up at 0.6087, having hit a low of 0.5506 last week, it’s lowest since Oct. 2002. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.6148, a break above could take it near 0.6234 (61.8% retracement of 0.6684 and 0.5506)). On the downside, support is seen at 0.5941 (10-DMA), a break below targets 0.5870.
Asian shares gained as investors bet policymakers will announce more stimulus measures to combat the coronavirus pandemic after U.S. unemployment filings surged to a record.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8 percent.
Tokyo's Nikkei rallied 3.9 percent to 19,389.43 points, Australia's S&P/ASX 200 index fell 5.3 percent to 4,842.40 points and South Korea's KOSPI surged 1.9 percent to 1,717.73 points.
Shanghai composite index rose 0.3 percent to 2,772.20 points, while CSI 300 index traded 0.3 percent up at 3,710.06 points
Hong Kong’s Hang Seng traded 0.4 percent higher at 23,439.47 points. Taiwan shares shed 0.4 percent to 9,698.92 points.
Crude oil prices rose as governments around the world pledged a huge injection of funds and other measures to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil. International benchmark Brent crude was trading 1.4 percent lower at $26.45 per barrel by 0549 GMT, having hit a low of $24.51 last week, its lowest since Sept. 2003. U.S. West Texas Intermediate was trading 0.7 percent down at $22.80 a barrel, after falling as low as $20.08 last week, its lowest since Feb. 2002
Gold prices eased as investors booked profits, but was set for its best week since December 2008 as record high U.S. jobless claims due to the coronavirus fuelled hopes for more stimulus to stem the economic damage caused by the epidemic. Spot gold fell 0.2 percent to $1,627.03 per ounce by 0552 GMT, having touched a high of $1644.43 on Thursday, its highest since Mar. 12. U.S. gold futures slipped 0.7 percent to $1,640.00 per ounce.
On Thursday, the benchmark 10-year U.S. Treasury yield was last 2.9 basis points lower to 0.830 percent, with the long bond roughly flat at 1.418 percent. At the short end, the two-year yield was 3.9 basis points lower at 0.287 percent.