America’s Roundup: Dollar slips as U.S. data disappoints, Gold surges 1.5%, Oil retreats in face of renewed coronavirus uncertainties-February 22nd, 2020
Asia Roundup: Aussie gains as business confidence slightly improves, Kiwi rebounds from near 4-month trough ahead RBNZ policy meeting, Asian shares nudge higher - Tuesday, February 11th, 2020
Europe Roundup: Sterling rises higher on reassuring UK factory data, European shares fall, Gold at seven-year high, Oil falls 1%-February 21st,2020
Asia Roundup: Kiwi rallies on RBNZ's hawkish stance, dollar gains against yen as new virus cases fall, Asian shares surge - Wednesday, February 12th, 2020
Europe Roundup: Sterling recovers from 2-1/2 month low against dollar, European shares edge lower, Gold steadies, Oil slips on weaker Chinese demand, traders await OPEC+ cuts-February 10th,2020
America’s Roundup: Dollar recedes from four-month highs as risk appetite improves, S&P 500, Nasdaq notches record high, Gold slips, Oil rises from 13-month low-February 12th,2020
America’s Roundup: Dollar gains as traders balance virus, economic reports, Wall Street slips, Gold rises, Oil prices climb on prospects for deeper OPEC+ output cuts-February 14th,2020
Europe Roundup: Euro plunges against dollar as China virus cases soar, European shares falter, Gold rises, Oil prices fall on bearish demand forecasts-February 13th,2020
Asia Roundup: Kiwi declines on RBNZ governor Adrian Orr's comments, dollar off highs against the yen as China virus fears return, Asian shares ease - Thursday, February 13th, 2020
Europe Roundup: Euro struggles near three-year lows on economic worries, European shares gain, Gold holds near two-week high, Oil price steady-February 17th,2020
Asia Roundup: Antipodeans ease as virus spreads globally, Japanese yen rallies as virus concern spurs safe-haven demand, Asian shares decline - Monday, February 24th, 2020
Europe Roundup: Euro falls below key $1.08 level,European shares rise, Gold holds above $1,600, Oil rises amid hope for short economic hit from coronavirus outbreak-February 19th,2020
America’s Roundup: Dollar dips on virus concerns and consumer data, Wall Street dips, Gold eases, Oil prices rise more than 1%, on course for weekly gain-February 15th,2020
Asia Roundup: Antipodeans await coronavirus clarity, euro consolidates near 3-year low on growth concerns, Asian shares nudge higher - Monday, February 17th, 2020
Asia Roundup: Antipodeans slump as persistent virus fears dampen China stimulus, greenback near 3-year peak on upbeat economic data, Euro consolidates ahead of CPI data - Friday, February 21st, 2020
Asia Roundup: Aussie rebounds on upbeat wage data, euro slumps on weak economic outlook, greenback near 4-1/2 month peak as investors eye FMOC minutes - Wednesday, February 19th, 2020
Asia Roundup: Aussie gains on RBA Governor Lowe's comments, yen extends rally on U.S.-China trade dispute, investors eye UK GDP report - Friday, August 9th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index steadied as the benchmark 10-year Treasury yield closed 2.4 basis points higher at 1.715 percent after hitting 1.595 percent on Wednesday, its lowest level since October 2016. The greenback against a basket of currencies traded flat at 97.59, having touched a low of 97.21 on Tuesday, its lowest since July 22.
EUR/USD: The euro rose, reversing previous session losses after Reuters reported that Germany is considering ending its long-cherished balanced budget goal by issuing new debt to finance a costly climate protection package. The European currency traded 0.2 percent up at 1.1197, having touched a high of 1.1249 on Tuesday, its highest since July 19. Investors’ attention will remain on a series of data from the Eurozone economies, ahead of the U.S. producer price index data. Immediate resistance is located at 1.1233 (July 17 High), a break above targets 1.1282 (July 19 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1138 (50% retracement).
USD/JPY: The dollar declined, extending losses for the third straight session, as U.S. President Donald Trump again expressed dissatisfaction with the strength of the greenback, saying the Federal Reserve’s interest rates were harming American manufacturers. The major was trading 0.2 percent down at 105.91, having hit a low of 105.49 on Wednesday, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index data. Immediate resistance is located at 106.39 (23.6% retracement of 109.31 and 105.49), a break above targets 106.95 (38.2% retracement). On the downside, support is seen at 105.52 (Aug. 6 Low), a break below could take it lower at 104.65 (Jan. 3 Low).
GBP/USD: Sterling continued to trade within narrow ranges above the 1.2100 handle, as investors remained on the sidelines amid prospect of a no-deal Brexit and news that Prime Minister Boris Johnson would hold an election in the days following Brexit if lawmakers sunk his government with a vote of no-confidence. The major traded 0.1 percent up at 1.2147, having hit a low of 1.2079 last week, 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 1.2188 (23.6% retracement of 1.2522 and 1.2079), a break above could take it near 1.2253 (38.2% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading flat at 92.16 pence, having hit a low of 92.65 on Thursday, it’s lowest since August 2017.
AUD/USD: The Australian dollar rose, extending previous session gains after the Reserve Bank of Australia stated that zero interest rates and quantitative easing are unlikely to be needed. RBA Governor Philip Lowe emphasized the central bank’s base case was for the economy to improve and that it may now be at a turning point with growth expected to pick up next year. The Aussie trades 0.2 percent up at 0.6812, having hit a low of 0.6677 on Wednesday, 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 0.6774 (5-DMA), 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 gained but on course for its third weekly decline. The major slumped to its lowest in more than three years earlier in the week after the Reserve Bank of New Zealand stunned markets by cutting interest rates more than expected and hinting at taking rates into negative territory. The Kiwi trades 0.2 percent up at 0.6493, having touched a low of 0.6376 on Wednesday, 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 steadied as China’s solid export figures and a stabilization in the yuan boosted investor risk appetite, although concerns about U.S.-China trade ties limited gains.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 percent.
Tokyo's Nikkei rallied 0.5 percent to 20,684.82 points, Australia's S&P/ASX 200 index rose 0.3 percent to 6,584.40 points and South Korea's KOSPI surged 1.1 percent to 1,942.02 points.
Shanghai composite index eased 0.8 percent to 2,771.94 points, while CSI 300 index traded 1.1 percent down at 3,630.25 points. Hong Kong’s Hang Seng traded 0.3 percent lower at 26,039.66 points.
Crude oil prices declined amid fears over demand as the U.S-China trade dispute casts its shadow over markets, although expectations of more OPEC production cuts limited downside. International benchmark Brent crude was trading 0.8 percent lower at $57.78 per barrel by 0531 GMT, having hit a low of $55.86 on Wednesday, its lowest since January. U.S. West Texas Intermediate was trading 0.7 percent down at $52.53 a barrel, after falling as low as $50.51 on Wednesday, its lowest since the January.
Gold prices steadied above the $1,500 mark as an escalation in the U.S.-China trade dispute and fears of a global economic slowdown triggered fresh interest for safe-haven assets. Spot gold was trading 0.3 percent up at $1,505.04 per ounce by 0535 GMT, having touched a high of $1,510.29 on Wednesday, its highest since April 2013. U.S. gold futures settled down 0.7 percent at $1,509.50 per ounce.
The Japanese government bond prices held firm, with their yields hitting three-year lows, amid broad concerns about the U.S.-China trade war. The 10-year JGB yield fell 1 basis point to minus 0.205 percent, not far from three-year low of minus 0.215 percent hit on Tuesday. The 20-year JGB yield fell 1.5 basis points to a three-year low of 0.115 percent and the 30-year JGB yield fell 1 basis point to 0.250 percent, the lowest since July 2016. At the shorter end of the market, the five-year JGB yield fell 1.5 basis points to a three-year low of minus 0.300% while the two-year JGB yield fell 2 basis points to 2 1/2-year lows of minus 0.265 percent.