America’s Roundup: Dollar turns higher as focus turns to surging coronavirus cases, Wall Street jumps, Gold gains, Oil up more than 2% on U.S. jobs data but virus fears cap gains-July 3rd 2020
America’s Roundup: Dollar edges lower amid uncertain U.S. outlook, Wall Street gains,Gold gains, Oil slips slightly on rising coronavirus cases, returning Libyan supplies-1st July 2020
America’s Roundup: U.S. dollar regains traction in FX markets, Wall Street drops, Gold retreats from near eight-year peak, Oil steadies as economic data overshadows coronavirus worries-July 8th,2020
Europe Roundup: Sterling rises on delayed response to Sunak's economic plan,European shares gain, Gold rises towards nine-year peak , Oil slips as coronavirus fears offset gasoline recovery signs-July 9th,2020
Europe Roundup: Euro dips lower against dollar as markets balanced hopes for a global economic recovery, European stocks dips,Gold hits 8-year peak.Oil rises on manufacturing data, U.S. inventories-July 1st 2020
America’s Roundup: U.S. dollar slides as vaccine news offsets surge in virus cases, Wall Street gains, Gold poised for fifth weekly gain, Oil rises as International Energy Agency boosts demand forecast-July 11th,2020
Americas Roundup: U.S. dollar slides to two-week low,Wall Street inches up, Gold smashes through $1,800 level,Oil falls as rise in virus cases, U.S. inventories stall recovery-July 9th,2020
Asia Roundup: Aussie gains on upbeat retail sales, dollar consolidates within narrow ranges amid holiday-thinned trading, Asian shares at 4-month peak - Friday, July 3rd, 2020
Asia Roundup: Japanese yen gains as China passes national security law, dollar steadies as investors eye U.S. manufacturing PMI, Asian shares nudge higher - Wednesday, July 1st, 2020
Asia Roundup: Yen rallies as coronavirus worries deepen, gold set for 5th straight weekly gain, Asian shares slump - Friday, July 10th, 2020
Europe roundup: Sterling gains as dollar sags, investors eye month-end for trade deal, European stocks surge,Gold steadies off 8-year high, Oil prices gain on fall in U.S. crude stockpiles-July 2nd 2020
Asia Roundup: Aussie retreats from near 4-week peak on fresh lockdowns, dollar rebounds against yen on upbeat service sector data, Asian shares plunge - Tuesday, July 7th, 2020
America’s Roundup: Dollar little changed against Japanese yen as virus fears counter gains, Wall Street gains, Gold edges higher, Oil steady as hopeful economic data face spike in virus cases-July 7th,2020
Europe Roundup: Sterling gains on infrastructure spending promise, Brexit caps gains, European shares gain Gold holds close to near 8-year peak, Oil rises on improving economic data, supply cut-June 29th,2020
Europe Roundup: Sterling nears three-week highs against dollar,European stocks ease from one-month highs, Gold retreats from multi-year peak, Oil down as U.S. virus spike stokes demand worries-July 7th,2020
Europe Roundup: Euro dips as grim data keeps euro under pressure, European shares edge lower, Gold hovers close eight years high, Oil prices drop on prospect of returning Libyan supplies-June 30th,2020
Asia Roundup: Aussie gains on upbeat jobs data, greenback rebounds on U.S. Treasury Secretary Steven Mnuchin's comments, Asian shares surge - Thursday, October 17th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index steadied after tumbling to a near 5-week low in the previous session after U.S. Treasury Secretary Steven Mnuchin said that trade negotiators are working on nailing down a phase 1 trade deal text for their presidents to sign next month. The greenback against a basket of currencies traded 0.05 percent up at 98.17, having touched a low of 97.90 on Wednesday, its lowest since September 13.
EUR/USD: The euro rose, hovering towards a 1-month peak hit in the previous session, after French central bank Governor Francois Villeroy de Galhau stated that the European Central Bank will implement its September stimulus package in full despite a rare public disagreement, but needs to clarify the symmetric nature of its inflation target at its upcoming policy review. The European currency traded flat at 1.1075, having touched a high of 1.1085 on Wednesday, its highest since September 16. Investors’ attention will remain on a series of data out of Eurozone economies and EZ construction output, ahead of the U.S. building permits, housing starts, unemployment benefit claims, industrial production, capacity utilization and Fed officials' speeches. Immediate resistance is located at 1.1098, a break above targets 1.1116. On the downside, support is seen at 1.1034 (5-DMA), a break below could drag it below 1.1000.
USD/JPY: The dollar declined, extending previous session losses after data released yesterday showed U.S. retail sales fell for the first time in seven months in September, indicating that manufacturing-led weakness could be spreading to the broader economy. The major was trading down at 108.74 having hit a high of 108.89 on Tuesday, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. building permits, housing starts, unemployment benefit claims, industrial production, capacity utilization and Fed officials' speeches. Immediate resistance is located at 108..99 (July 31 High), a break above targets 109.31 (August 1 High). On the downside, support is seen at 108.48 (5-DMA), a break below could take it near at 108.02.
GBP/USD: Sterling eased after rising to a 5-month peak in the prior session amid contradictory headlines about whether Britain and the European Union were on the verge of agreeing a Brexit deal. The major traded 0.1 percent down at 1.2816, having hit a high of 1.2877 on Wednesday, it’s highest since May 21. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2900, a break above could take it near 1.2943. On the downside, support is seen at 1.2747, a break below targets 1.2708. Against the euro, the pound was trading 0.2 percent down at 86.41 pence, having hit a high of 85.97 earlier, it’s highest since May 9
AUD/USD: The Australian dollar rallied after domestic employment data showed 14,700 net new jobs were added in September, matching forecasts, with full-time positions rising to 26,200, while jobless rate eased to 5.2 percent, from a 1-year peak of 5.3 percent. The Aussie trades 0.4 percent up at 0.6787, having hit a high of 0.6810 on Friday, it’s highest since September 19. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6710, a break below targets 0.6671. On the upside, resistance is located at 0.6805, a break above could take it near 0.6829 (September 5 High).
NZD/USD: The New Zealand dollar consolidated within narrow ranges, after dovish comments from a top central banker outweighed a slight upside surprise on domestic inflation. RBNZ deputy governor Geoff Bascand stated that further rate cuts might be needed to bolster growth, despite consumer price inflation rising 0.7 percent in the third quarter. The Kiwi trades flat at 0.6291, having touched a low of 0.6240 on Wednesday, its lowest level since October 2. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6258, a break below could drag it below 0.6215.
Asian shares gained as the soft U.S. sales data pointed to signs that the U.S. economy was beginning to show signs of weakness.
Tokyo's Nikkei gained 0.1 percent to 22,491.00 points, Australia's S&P/ASX 200 index declined 0.8 percent to 6,684.70 points and South Korea's KOSPI fell 0.4 percent to 2,074.52 points.
Shanghai composite index rose 0.05 percent to 2,979.74 points, while CSI 300 index traded 0.2 percent up at 3,928.00 points.
Hong Kong’s Hang Seng traded 0.6 percent higher at 26,833.59 points. Taiwan shares added 0.2 percent to 11,186.88 points.
Crude oil prices eased after industry data showed a larger-than-expected build-up in stocks in the United States, although comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal limited losses. International benchmark Brent crude was trading 0.1 percent down at $59.00 per barrel by 0423 GMT, having hit a high of $60.66 on Friday, its highest since September 30. U.S. West Texas Intermediate was trading 0.05 percent higher at $52.94 a barrel, after rising as high as $54.91 on Friday, its highest since September 30.
Gold prices steadied as weak United States retail sales data fanned concerns that the country’s economy may be feeling the effects of the long-drawn trade war with China. Spot gold traded flat at $1,488.26 per ounce at 0428 GMT, having touched a low of $1,473.88 on Friday, its lowest since October 1. U.S. gold futures rose 0.1 percent to $1,495.60.
The Australian government bonds slumped during Asian trading session after trade tensions between the United States and China spurred disturbance amongst the market investors amid disappointment from the country’s domestic labour market report for the month of September, released early today. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 2-1/2 basis points to 1.077 percent, the yield on the long-term 30-year bond also surged nearly 2-1/2 basis points to 1.664 percent and the yield on short-term 2-year traded 2 basis points higher at 0.750 percent.