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
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 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
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
Europe Roundup: Sterling steadies as investors eye Dec. 12 elections, greenback tumbles amid doubts over U.S.-China trade deal, European shares slump - Thursday, November 21st, 2019
Europe Roundup: Sterling consolidates near 1.2800 amid persisting Brexit concerns, euro tumbles ahead of Spanish election, greenback at 3-week peak on U.S.-China trade hopes - Friday, November 8th, 2019
America's Roundup: Dollar falls on trade deal outlook, Gold rebounds, Oil slips as concerns over U.S.-China trade talks drag on-Nov 220th,2019
Asia Roundup: Aussie eases on RBA policy meeting minutes, dollar tumbles amid doubts over the U.S.-China trade deal, Asian shares subdued - Tuesday, November 19th, 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
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
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 concerns of delay in U.S.-China trade deal, gold near 2-week peak, investors eye ECB policy meeting minutes - Thursday, November 21st, 2019
Asia Roundup: Antipodeans steady on U.S.-China trade deal hopes, investors await global manufacturing surveys, Asian shares off 3-week low - Friday, 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
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
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
Asia Roundup: Aussie gains on upbeat job advertisements, greenback rallies as expectations for aggressive Fed rate cuts fade, Asian shares plunge - Monday, July 8th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rallied as the U.S. Treasury yields rose across the board after a bigger-than-expected increase in U.S. non-farm payrolls tempered expectations for a Fed rate cut. The greenback against a basket of currencies traded 0.1 percent up at 96.82, having touched a high of 96.88 on Tuesday, its highest since June 20.
EUR/USD: The euro consolidated near a 2-1/2 week low hit in the previous session, after the European Central Bank policymaker Francois Villeroy de Galhau stated that the ECB will decide its next policy moves based on incoming economic data and not financial market swings. On Friday, data showed that German industrial orders fell far more than expected in May, followed by a warning from the economy ministry that this sector was likely to remain weak in the short term. The European currency traded flat at 1.1227, having touched a low of 1.1207 on Friday, its lowest since June 19. Investors’ attention will remain on the Eurozone Sentix investor confidence data, ahead of the U.S. consumer credit change report. Immediate resistance is located at 1.1256 (23.6% retracement of 1.1412 and 1.1207), a break above targets 1.1310 (50.0% retracement). On the downside, support is seen at 1.1203 (June 17 Low), a break below could drag it below 1.1160 (June 3 Low).
USD/JPY: The dollar declined after rising to a near 3-week peak in the previous session on better-than-expected U.S. June jobs data that suggested the Federal Reserve will not aggressively cut interest rates later this month. The U.S. nonfarm payrolls rebounded in June to 224,000, the most in five months, surpassing consensus estimate of 160,000. The pair was trading 0.1 percent down at 108.30, having hit a high of 107.63 on Friday, its highest since Jun. 18. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer credit change report. Immediate resistance is located at 108.80 (June 11 High), a break above targets 109.08. On the downside, support is seen at 107.81 (June 5 Low), a break below could take it lower at 107.24 (June 24 Low).
GBP/USD: Sterling traded near a 6-month low as weak economic data and a rise in expectations that the Bank of England will cut interest rates dented British pound bull's sentiments. Investors eye UK BRC Like-For-Like Retail Sales (YoY), which is expected to increase +0.8 percent from -3.0 percent decline in June. The major traded flat at 1.2528, having hit a low of 1.2481 on Friday, it’s lowest since Jan. 3. Investors’ attention will remain on development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2579 (5-DMA), a break above could take it near 1.2636 (10-DMA). On the downside, support is seen at 1.2506 (June 18 Low), a break below targets 1.2481 (July 5 Low). Against the euro, the pound was trading flat at 89.57 pence, having hit a high of 89.19 last week, it’s highest since Jun. 25.
AUD/USD: The Australian dollar surged after domestic data showed job advertisements in newspapers and on the internet rebounded in June after a sharp decline in May. The economy's total job advertisements added a seasonally adjusted 4.6 percent in June from May, when they fell 8.4 percent for the biggest fall since January 2010. The Aussie trades 0.1 percent up at 0.6983, having hit a high of 0.7047 on Thursday, it’s highest since May 7. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6941 (June 25 Low), a break below targets 0.6901 (June 13 Low). On the upside, resistance is located at 0.7048 (May 7 High), a break above could take it near 0.7076 (Mar. 11 High).
NZD/USD: The New Zealand dollar steadied after falling to a 1-1/2 week low in the previous session, as the Reserve Bank of New Zealand skipped a chance for further easing in June. However, investors expect it will cut again at its next meeting in August and will reach 1 percent by early next year. The Kiwi trades 0.2 percent up at 0.6639, having touched a low of 0.6602 on Friday, its lowest level June 26. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6671 (5-DMA), a break above could take it near 0.6726 (July 1 High). On the downside, support is seen at 0.6592 (June 26 Low), a break below could drag it below 0.6554 (June 21 Low).
Asian shares plunged as strong U.S. jobs data for June dampened expectations for aggressive interest rate cuts by the Federal Reserve.
MSCI's broadest index of Asia-Pacific shares outside Japan slumped over 1 percent.
Tokyo's Nikkei declined 0.9 percent to 21,534.35 points, Australia's S&P/ASX 200 index fell 1.2 percent to 6,672.20 points and South Korea's KOSPI tumbled 2.1 percent to 2,066.30 points.
Shanghai composite index eased 2.4 percent to 2,940.00 points, while CSI 300 index traded 2.1 percent down at 3,811.96 points.
Hong Kong’s Hang Seng traded 1.8 percent lower at 28,258.28 points. Taiwan shares shed 0.3 percent to 10,751.22 points.
Crude prices declined, weighed down by geopolitical risks against the impact of the U.S.-China trade war on the global economy. International benchmark Brent crude was trading 0.4 percent lower at $64.19 per barrel by 0535 GMT, having hit a low of $62.06 on Wednesday, its lowest since June 19. U.S. West Texas Intermediate was trading 0.5 percent down at $57.45 a barrel, after falling as low as $56.03 on Wednesday, its lowest since the June 20.
Gold prices steadied after declining in the previous session on strong U.S. jobs report that tempered expectations of an aggressive interest rate cut by the Federal Reserve later this month. Spot gold was trading 0.4 percent up at $1,404.92 per ounce by 0539 GMT, having touched a high of $1,437.66 on Wednesday, its highest since June 25. U.S. gold futures were down 0.1 percent at $1,399.40 an ounce.
The Japanese government bond prices declined, with the 1en-year JGB futures easing -0.16 point to 153.80. The 10-year JGB yield rose 1.5 basis points to minus 0.155 percent. The 20-year JGB yield rose 1 basis point to 0.205 percent, while the 30-year JGB yield rose 1.5 basis points to 0.345 percent. At the short end of the curve yields on two-year JGBs rose 1 basis point to -0.205 percent.
The Australian government bonds plunged during early Asian trading session tracking sell-off in the U.S. Treasuries. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, rose nearly 4 basis points to 1.325 percent, the yield on the long-term 30-year bond also climbed 4 basis points to 1.972 percent and the yield on short-term 2-year traded about 4 basis points higher at 0.976 percent .