America’s Roundup: Dollar slips on fresh doubts on trade deal,Wall Street slips, Gold edges down, Oil prices fall almost 2% on trade talks uncertainty-November 19th,2019
America’s Roundup: Dollar little changed as spotlight remains firmly on US-China trade war, Wall Street edges lower, Gold eases, Oil rises to two-month high -November 22nd 2019
America's Roundup: Dollar buoyed by caution as trade deal optimism wanes, Wall Street gains, Gold slips, Oil prices gain 2% despite concerns about rising supplies-November 16th,2019
America's Roundup: Dollar gains versus yen on continued trade deal optimism, Wall Street hits fresh record high, Gold slides over 1%, Oil rebounds to $62 on hopes for U.S.-China trade deal-November 8th,2019
Europe Roundup: Sterling consolidates below 1.2900 amid persisting concerns over economic outlook, euro gains on better-than-expected EZ trade surplus, European shares plunge - Friday, November 15th, 2019
Europe Roundup: Sterling steadies as UK economy grows at slowest annual rate, euro holds near 4-week trough amid political turmoil, European shares tumble - Monday, November 11th, 2019
Europe Roundup: Sterling halts 4-day rally on doubts over Conservative Party's win in election, greenback rebounds as investors await Fed meeting minutes, European shares rally - Tuesday, November 19th, 2019
Europe Roundup: Sterling steadies above 1.2900 on hopes of Conservative majority, euro halts 4-day rally on Italy's warning over EZ bailout fund reform, investors eye Fed minutes - Wednesday, November 20th, 2019
America’s Roundup: Dollar buoyed by U.S.-China tariffs pledge, Wall Street little changed, Oil falls amid doubts over US-China trade deal-November 9th,2019
Asia Roundup: Antipodeans steady as China cuts repo rate, dollar rallies against yen on optimism over U.S.-China trade deal, Asian shares nudge higher - Monday, November 18th, 2019
America’s Roundup: Dollar little changed after Trump speech reveals little on trade, Gold prices dip, Oil prices dip-November 13th,2019
Asia Roundup: Antipodeans tumble on soft Chinese trade figures, dollar near 5-month peak against yen amid renewed hopes of U.S.-China trade deal, Asian shares off 6-month high - Friday, November 8th, 2019
Europe Roundup: Sterling gains as no-deal Brexit chances ease, euro steadies near 1-month low as Euro zone industry output rises, European shares off 4-month peak - Wednesday, November 13th, 2019
Asia Roundup: Antipodeans ease on renewed U.S.-China trade tensions, greenback steadies ahead of Fed meeting minutes, Asian shares slump - Wednesday, November 20th, 2019
Asia Roundup: Kiwi halts 5-day losing streak ahead of RBNZ policy meeting, dollar eases against yen amid persisting U.S.-China trade deal concerns, Asian shares plunge - Monday, November 11th, 2019
Europe Roundup: Euro steadies on upbeat German economic data, greenback gains on Fed Powell’s comments, European shares tumble - Thursday, November 14th, 2019
Asia Roundup: Aussie eases on weaker-than-expected Chinese economic data, greenback gains as Trump delays China tariffs, investors eye EZ Q2 prelim GDP - Wednesday, August 14th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged to an over 1-week peak as U.S. President Donald Trump backed off his September 1 deadline for 10 percent tariffs on the remaining Chinese imports, delaying duties on cellphones, laptops and other consumer products. The greenback against a basket of currencies traded flat at 97.83, having touched a low of 97.03 on Friday, its lowest since July 19.
EUR/USD: The euro steadied after plunging in the previous session on data showing the sentiment among German investors eased far more than expected in August. Investors now focus on Eurozone's Q2 prelim Gross Domestic Product that could shape the near-term direction of the major. The European currency traded 0.05 percent up at 1.1173, having touched a high of 1.1249 last week, its highest since July 19. Investors’ attention will remain on EZ industrial production and flash Q2 GDP figures, ahead of the U.S. import and export index. Immediate resistance is located at 1.1241 (August 7 High), a break above targets 1.1282 (July 19 High). On the downside, support is seen at 1.1138 (50% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1111 (61.8% retracement).
USD/JPY: The dollar slightly eased after rising to a 1-week peak in the previous session on news that U.S. President Donald Trump would delay some additional tariffs on Chinese products. However, the weakness comes in as weaker-than-expected Chinese economic data reinforced the view that resolving the trade war was a long way off. The major was trading 0.2 percent down at 106.55, having hit a low of 105.05 on Monday, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. import and export index. Immediate resistance is located at 107.18 (50.0% retracement of 109.31 and 105.05), a break above targets 107.68 (61.8% retracement). On the downside, support is seen at 106.00 (5-DMA), a break below could take it lower at 105.49 (Aug. 7 Low).
GBP/USD: Sterling eased, extending previous session losses, as uncertainty about how Britain will exit the European Union clouded the outlook for the Bank of England’s monetary policy. The major traded 0.05 percent down at 1.2052, having hit a low of 1.2014 on Monday, 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 1.2135 (23.6% retracement of 1.2522 and 1.2079), a break above could take it near 1.2210 (38.2% retracement). On the downside, support is seen at 1.1986 (Jan 16, 2017, Low, a break below targets 1.1904 (Oct 7, 2016, Low). Against the euro, the pound was trading flat at 92.64 pence, having hit a low of 93.24 on Monday, it’s lowest since October 2009.
AUD/USD: The Australian dollar edged lower after data showed growth of China’s industrial output slowed much more than expected to 4.8 percent in July from a year earlier, its slowest pace since February 2002, while retail sales and fixed-asset investment in July also grew less than forecast, highlighting concerns the trade war is damaging the health of the Chinese economy. The Aussie trades 0.1 percent down at 0.6787, having hit a low of 0.6677 last week, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6725, a break below targets 0.6700. On the upside, resistance is located at 6831 (38.2% retracement of 0.7082 and 0.6677), a break above could take it near 0.6879 (50% retracement).
NZD/USD: The New Zealand dollar consolidated within narrow ranges as Reserve Bank of New Zealand is expected to cut the interest rate by the end of the year which would take the OCR below 1 percent. The Kiwi trades flat at 0.6453, having touched a low of 0.6376 last week, its lowest level Jan 2016. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6534 (38.2% retracement of 0.6790 and 0.6376), a break above could take it near 0.6583 (50% retracement). On the downside, support is seen at 0.6400, a break below could drag it below 0.6365.
Asian shares jumped after Washington delayed tariffs on some Chinese imports and provided the much-needed relief for markets gripped by political and economic turmoil.
MSCI's broadest index of Asia-Pacific shares outside Japan increased 0.9 percent.
Tokyo's Nikkei surged 0.9 percent to 20,642.15 points, Australia's S&P/ASX 200 index rallied 0.1 percent to 6,577.10 points and South Korea's KOSPI gained 0.7 percent to 1,938.56 points.
Shanghai composite index rose 0.7 percent to 2,816.12 points, while CSI 300 index traded 0.7 percent up at 3,693.69 points.
Hong Kong’s Hang Seng traded 0.6 percent higher at 25,427.29 points. Taiwan shares added 0.6 percent to 10,427.73 points.
Crude oil prices declined after industry data showed U.S. crude inventories unexpectedly rose last week, erasing some gains from the previous session that were stoked after Washington said it would delay tariffs on some Chinese goods. International benchmark Brent crude was trading 0.5 percent lower at $60.62 per barrel by 0426 GMT, having hit a high of $61.48 on Tuesday, its highest since August 5. U.S. West Texas Intermediate was trading 0.6 percent down at $56.32 a barrel, after rising as high as $57.43 on Tuesday, its highest since August 1.
Gold prices consolidated around the key $1,500 level, supported by the uncertainty around political risks such as the unrest in Hong Kong amid global growth concerns. Spot gold was trading 0.1 percent down at $1,499.79 per ounce at 0432 GMT, having touched a high of $1,519.75 earlier, its highest since April 2013. U.S. gold futures were down 0.1 percent at $1,512.10 an ounce.
The 10-year U.S. Treasury note edged down 2.5 basis points to 1.676 percent after climbing 6 basis points overnight. The yield had plumbed a three-year low of 1.595 percent a week ago.