Europe Roundup: Sterling rallies above 1.3100 ahead of next week's election; Swiss franc, yen ease on U.S.-China trade optimism, European shares rally - Thursday, December 5th, 2019
America’s Roundup: Dollar slip as U.S.-China trade deadline looms,Wall Street ends flat, Gold firms, Oil rises but U.S.-China trade war weighs on demand outlook-December 11th,2019
Asia Roundup: Aussie rallies as RBA stands pat, greenback eases following weak U.S. manufacturing data, Asian shares plunge on Trump's Latin American tariffs - Tuesday, December 3rd, 2019
America's Roundup: Dollar jumps vs safe-haven yen on U.S.-China trade deal hopes, Wall Street hits session high, Gold holds steady, Oil rises 1%-December 13th, 2019
Asia Roundup: Aussie off highs as economy struggles to grow, yen at 2-week peak against dollar as trade concerns linger, Asian shares slump - Wednesday, December 4th, 2019
Europe Roundup: Sterling eases below 1.2900 as probability of a hung parliament increases, euro tumbles as EZ factory activity declines, investors eye ECB President Lagarde's speech - Monday, December 2nd, 2019
Asia Roundup: Dollar consolidates against yen as tariff deadline looms, sterling eases on UK poll projections, investors’ eye Fed policy decision - Wednesday, December 11th, 2019
Europe Roundup: Sterling gains on Conservative Party victory expectations, euro rallies as EZ investor sentiment improve, European shares slump - Tuesday, December 10th, 2019
Europe Roundup: Sterling consolidates near 8-month peak ahead of UK election, Swiss franc rallies as SNB stands pat, investors eye ECB Lagarde’s speech - Thursday, December 12th, 2019
Asia Roundup: Antipodeans ease on prospects of U.S. tariffs, greenback rallies on strong U.S. jobs data, Asian shares surge - Monday, December 9th, 2019
Europe Roundup: Sterling at 6-week peak as poll show Conservative lead widening, euro tumbles as EZ PPI eases, European shares plunge on trade tariffs - Tuesday, December 3rd, 2019
Asia Roundup: Kiwi rallies to 4-month peak as RBNZ increases bank capital requirements, greenback eases on soft U.S. services report, investors eye OPEC meetings - Thursday, December 5th, 2019
Europe Roundup: Sterling poised for best week since mid-October, euro off highs as German industry output declines, investors eye U.S. nonfarm payroll - Friday, December 6th, 2019
Asia Roundup: Antipodeans steady near multi-month peak as investors await clarity on fresh U.S. tariffs; greenback consolidates ahead of Fed decision, Asian shares ease - Tuesday, December 10th, 2019
America's Roundup: Dollar gains after stronger-than-expected U.S. jobs report, Gold slips 1%,Wall Street climbs ,Oil rises sharply this week as OPEC+ agrees on deeper output cuts-December 7th,2019
America’s Roundup: Dollar firms above 1-month lows on trade tensions, Wall Street bounces, Gold retreats, Oil jumps 4% on U.S. stockpiles drop-December 5th,2019
Asia Roundup: Aussie off highs as RBA set to cut rates again, greenback gains as investors eye U.S. retail sales data, Asian shares surge - Tuesday, July 16th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rose, extending previous session gains after U.S. Treasury Secretary Steven Mnuchin said he and U.S. Trade Representative Robert Lighthizer would speak with their Chinese counterparts by phone again this week as part of the recently resumed trade talks. The greenback against a basket of currencies traded 0.1 percent up at 97.00, having touched a low of 96.72 on Friday, its lowest since June 5.
EUR/USD: The euro consolidated within narrow ranges as investors refrained from taking big positions amid growing expectations for a dovish European Central Bank meeting next week. The European currency traded flat at 1.1258, having touched a high of 1.1286 on Thursday, its highest since July 5. Investors’ attention will remain on a series of data from the Eurozone economies and ZEW Survey -Economic sentiment, ahead of the U.S. retail sales, capacity utilization, industrial production, business inventories, NAHB housing market index, and import and export price index. Immediate resistance is located at 1.1304 (50.0% retracement of 1.1412 and 1.1193), a break above targets 1.1366 (78.6% retracement). On the downside, support is seen at 1.1207 (July 5 Low), a break below could drag it below 1.1181 (June 18 Low).
USD/JPY: The dollar rose above the 108.00 handle, as investors awaited the release of U.S. retail sales figures for signs of improvement in the economy. However, the upside appears limited as the yield on benchmark 10-year Treasury notes eased slightly to 2.0852 percent compared with its previous close of 2.092 percent. The pair was trading 0.1 percent up at 108.05, having hit a low of 107.79 on Monday, its lowest since July 5. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, capacity utilization, industrial production, business inventories, NAHB housing market index, and import and export price index. Immediate resistance is located at 108.32 (5-DMA), a break above targets 108.80 (July 8 High). On the downside, support is seen at 107.53 (July 3 Low), a break below could take it lower at 107.10 (June 26 Low).
GBP/USD: Sterling eased to a 5-day low, as investors were nervous about the prospect of eurosceptic Boris Johnson winning the Conservative party leadership contest and becoming the next British prime minister as early as the end of this month. The major traded flat at 1.2515, having hit a high of 1.2578 on Friday, it’s highest since July 5. Investors’ attention will remain on the development surrounding Brexit and UK labour market data, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2571 (38.2% retracement of 1.2783 and 1.2439), a break above could take it near 1.2611 (50.0% retracement). On the downside, support is seen at 1.2481 (July 5 Low), a break below targets 1.2439 (July 9 Low). Against the euro, the pound was trading flat at 89.96 pence, having hit a high of 89.55 on Monday, it’s highest since Jul. 9.
AUD/USD: The Australian dollar eased from a 1-1/2 week peak after minutes of the Reserve Bank of Australia’s July policy meeting showed its board decided that cutting rates by another quarter-point would help speed up the economy. The Aussie trades 0.1 percent down at 0.7033, having hit a high of 0.7044 earlier, it’s highest since July 4. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6998 (June 28 Low), a break below targets 0.6941 (June 25 Low). On the upside, resistance is located at 0.7069 (Apr. 30 High), a break above could take it near 0.7091 (Mar 12 High).
NZD/USD: The New Zealand dollar rallied to a 3-month peak, as investors continued to wager the Reserve Bank of New Zealand would cut rates at its next policy meeting on Aug. 7, as the Fed was also expected to ease by the end of this month. The Kiwi trades 0.2 percent up at 0.6730, having touched a high of 0.6738 earlier, its highest level Apr. 17. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6771 (Apr. 11 High), a break above could take it near 0.6799 (Apr. 4 High). On the downside, support is seen at 0.6663 (5-DMA), a break below could drag it below 0.6602 (July 5 Low).
Asian shares gained as investors’ awaited U.S. retail sales data and corporate earnings to gauge the health of the economy.
MSCI's broadest index of Asia-Pacific shares outside Japan surged 0.2 percent.
Tokyo's Nikkei declined 0.7 percent to 21,535.25 points, Australia's S&P/ASX 200 index eased 0.2 percent to 6,641.00 points and South Korea's KOSPI rose 0.5 percent to 2,091.87 points.
Shanghai composite index eased 0.2 percent to 2,937.67 points, while CSI 300 index traded 0.4 percent down at 3,807.22 points.
Hong Kong’s Hang Seng traded 0.2 percent higher at 28,595.20 points. Taiwan shares added 0.1 percent to 10,886.05 points.
Crude oil prices surged after falling in the previous session as output in the U.S. Gulf of Mexico resumed after Hurricane Barry swept through over the weekend. International benchmark Brent crude was trading 0.5 percent higher at $66.50 per barrel by 0546 GMT, having hit a high of $67.63 on Thursday, its highest since May 30. U.S. West Texas Intermediate was trading 0.5 percent up at $59.58 a barrel, after rising as high as $60.91 on Thursday, its highest since the May 23.
Gold prices rose as investors’ awaited U.S. retail sales data that could provide further insight on the strength of the economy amid lingering concerns over global economic slowdown. Spot gold was trading 0.1 percent up at $1,415.16 per ounce by 0549 GMT, having touched a high of $1,427.06 on Thursday, its highest since July 3. U.S. gold futures were up 0.1 percent at $1,414.90 an ounce.
The Japanese government bonds gained at close, tracking a similar movement in the global peers, helped further by the Bank of Japan’s (BoJ) daily bond-buying operations, held earlier today. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, slipped 1-1/2 basis points to -0.135 percent, the yield on the long-term 30-year edged tad lower to 0.380 percent and the yield on short-term 2-year slumped 5 basis points to -0.185 percent.
The Australian government bond yields plunged during Asian session of the second trading day of the week after the Reserve Bank of Australia’s (RBA) July monetary policy meeting minutes hinted at further easing in its benchmark interest rate at its upcoming meetings. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged nearly 8 basis points to 1.387 percent, the yield on the long-term 30-year bond slumped 7-1/2 basis points to 2.044 percent and the yield on short-term 2-year traded nearly 5-1/2 basis points down at 0.954 percent.
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