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Asia Roundup: Aussie falls noticeably against U.S. dollar, hits fresh 6 – week low at $0.6827 mark; Asian markets in green; gold touches $1,550 mark in early Asia - Wednesday, January 22, 2020

Market Roundup

  • South Korea’s GDP q/q stands at 1.2 pct vs 0.4 pct previous release (expected 0.8).
     
  • South Korea’s GDP y/y stands at 2.2 pct vs 2.0 pct previous release (expected 1.9).
     
  • Thailand’s trade balance stands at 0.600B vs 0.550B previous release (expected 0.630B).
     
  • Australia’s Westpac consumer sentiment stands at -1.8 pct vs -1.9 pct previous release (expected -0.8 pct).

 

Economic Data Ahead

  • (0245 ET/0745 GMT) France Business survey.
     
  • (0300 ET/0800 GMT) South Africa’s CPI, core CPI data.
     
  • (0400 ET/0900 GMT) Italy’s industrial new orders, sales.
     
  • (0430 ET/0930 GMT) U.K.’s core retail sales, mortgage approvals, retail sales.
     
  • (0600 ET/1100 GMT) U.K CBI  industrial trade orders.

Key Events Ahead

  • (0300 ET/0800 GMT) Swiss World Economic Forum Annual Meetings.

FX Recap

USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.096% to 97.39.

EUR/USD: The euro trades marginally lower against U.S. dollar and currently trading $1.1084 mark on Wednesday. A sustained close above $1.1096 will drag the parity higher towards key resistances around $1.1142, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively. On the other hand, a consistent close below $1.1060 will drag the parity down towards key supports around $1.1017, $1.0919 and $1.0852 levels respectively.

USD/JPY: The Japanese yen depreciates gradually against U.S. dollar and jumps above 110.00 mark. The pair is currently trading around 110.05 mark. A sustained close above 110.18 is required to take the parity higher towards key resistances around 110.50, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 109.86 will drag the parity down towards key support around 108.40, 106.90 and 104.20 marks respectively.

GBP/USD: The Pound rises against U.S. dollar ahead of U.K.’s retail sales data. The pair is currently stabilizes above 1.3050 mark. A sustained close below $1.2935 requires for dragging the parity down towards key support around $1.2820, $1.2644 and $1.2352 mark respectively. On the other side, key resistances are seen at $1.3078, $1.3157, $1.3335, $1.3422 and $1.3515 levels respectively.

AUD/USD: The Aussie falls against U.S. dollar and hits fresh 6 – week low at $0.6827 mark. Pair made intraday high at $0.6848 and low at $0.6827 mark. A consistent close below $0.6844 requires for downside rally towards $0.6804 and $0.6754 mark respectively. On the other side, a sustained close above $0.6903 will take the parity higher towards $0.6942, $0.7076 and $0.7122 levels respectively.

NZD/USD: The Kiwi trades slightly lower against U.S. dollar and remains well supported below $0.66 mark. The pair is currently trading around $0.6592 mark. A sustained close above $0.6646 requires for the upside rally. Alternatively, a consistent close below $0.6590 will take the parity down towards key supports around $0.6502, $0.6424, $0.6323, $0.6236 and $0.6196 levels respectively.

Equities Recap

Japan’s Nikkei was trading 0.54 pct higher at 23,994.50 points.

Australia’s S&P/ASX 200 was trading 1.00 pct higher at 7,137.10 points.

Hong kong’s Hang seng was trading 0.75 pct higher at 28,193.00 points.

South Korea’s Kospi was trading 0.67 pct higher at 2,253.95 points.

India’s NSE was trading 0.10 pct higher at 12,180.25 points and BSE sensex 0.15 pct higher at 41,386.57 points.

Commodities Recap

Gold depreciates and touches $1,550 mark in early Asia. A sustained close above $1,562 requires for the upside rally. On the other side, a consistent close below $1,546 will drag the parity down towards key supports around $1,530, $1,511, $1,490, $1,472 and $1,458 mark respectively. On the top side, key resistances are seen at $1,574, $1,597 and $1,611 mark respectively.

Oil price falls on Wednesday. Brent crude futures were down by 18 cents to $64.41. The West Texas Intermediate contract was down by 20 cents at $58.18 a barrel.

Treasuries Recap

The yield on Australia’s benchmark 10-year note, which moves inversely to its price, trades lower to  1.111 points, the yield on the long-term 15-year bond trades down to 1.206 points and the yield on short-term 2-year fell nearly 0.008 pct to 0.721 points.

The yield on the benchmark 10 - year JGB note, which moves inversely to its price, trades slightly down to -0.005 points, the yield on the long-term 30 - year fell -0.003 pct to 0.438 points and the yield on short-term 2 - year fell to -0.123 points.

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