America’s Roundup: Dollar falls as other economies enter recovery, Wall Street ends higher, Gold slumps 2%,Oil moves higher, hovers below $40 as doubts emerge over next step on OPEC cuts-June 4th,2020
Asia Roundup: Aussie rallies to 4-month peak as RBA stands pat, dollar holds gains against yen as U.S. manufacturing activity rebounds from 11-year low, Asian shares advance - Tuesday, June 2nd, 2020
America’s Roundup: Dollar dips as improved risk appetite, EU recovery fund hopes boost euro, Wall Street ends down, Gold gains, Oil rises as higher U.S. refinery rates offsets surprise crude build-May 29th,2020
Asia Roundup: Aussie eases on worsening U.S.-China tensions, dollar rallies against yen as risk sentiment slightly improves on potential Japanese stimulus, Asian shares consolidate - Monday, May 25th, 2020
Americas’ Roundup: Dollar trades in narrow range as four-day euro rally fizzles, Wall Street ends lower, Brent at highest since March on U.S. stock draw, recovering demand-May 22nd 2020
America’s Roundup: Dollar treads water against euro, Wall Street gains, Gold dips to two-week low, Oil falls on demand concerns, U.S.-China tensions-May 28th,2020
Europe Roundup: Euro gains for the seventh day against dollar ,European shares rise, Gold dips, Oil tops $40 on OPEC cuts and demand recovery-June 3rd 2020
Europe Roundup: Euro falls ahead of ECB meeting, European shares inch lower, Gold gains, Oil drops on U.S. inventories and doubts over output cuts-June 3rd, 2020
Europe Roundup: Sterling tumbles on record-low retail data, trade tensions, European shares dip, Gold gains, Oil prices drop as China-U.S. tensions grow –May 22nd 2020
America’s Roundup: Dollar dented as risk appetite ramps up, Wall Street gains, Gold eases, Oil prices rise as faith in supply cuts grows-May 27th,2020
Asia Roundup: Aussie rallies to 5-month peak on better-than-expected Chinese service PMI, greenback slumps amid mass protests against racism, Asian shares surge - Wednesday, June 3rd, 2020
America’s Roundup: Dollar dips against euro as month-end flows weigh, Wall Street ends up, Gold gains 1%,Oil surges 5% on U.S.-China trade optimism, falling crude output-May 30th,2020
Asia Roundup: Aussie near 4-month peak on upbeat Chinese data, dollar slumps amid U.S. riots, Asian shares rally as investors focus on recovery from pandemic - Monday, June 1st, 2020
Europe Roundup: Euro steady as doubts over EU recovery fund arise,European shares gains,Gold gains, Oil prices steady,awaiting confirmation of surprise U.S. inventory build-May 28th,2020
Europe Roundup: Euro as German survey fuels optimism, European shares rise, Gold dips, Oil falls as U.S.-China tensions take toll-May 25th,2020
America’s Roundup: Dollar hits 11-week low against major currencies, Wall Street gains, Gold firms, Oil steady; U.S.-China tensions weigh, possible output cuts support-June 2nd, 2020
Asia Roundup: Aussie plunges following RBA meeting minutes, greenback steadies as risk sentiment slightly improves, Asian shares consolidate - Tuesday, March 17th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index held firm above 21-DMA as signs of more economic support from policymakers boosted investor risk sentiment. U.S. President Donald Trump urged Americans to halt most social activities for 15 days and not assemble in groups larger than 10 people in a newly aggressive effort to reduce the spread of the virus in the United States. The greenback against a basket of currencies traded 0.4 percent up at 98.38, having touched a high of 98.81 on Friday, its highest since feb. 27.
EUR/USD: The euro eased as investors bet that dealing with the effects of coronavirus will blow a bigger-than-expected hole in the country’s finances. On Monday, Eurozone finance ministers pledged an unlimited commitment to fight the economic fallout of the pandemic, saying they would do whatever it takes and more to restore confidence and a rapid recovery. The European currency traded 0.1 percent down at 1.1172, having touched a low of 1.1054 on Friday, its lowest since March 2. Investors’ attention will remain on a series of data from the Eurozone economies, EZ ZEW Survey - economic sentiment, construction output, and German ZEW Survey, ahead of the U.S. retail sales, capacity utilization, business inventories, NAHB housing market index and JOLT Job Opening. Immediate resistance is located at 1.1223 (38.2% retracement of 1.1495 and 1.1055), a break above targets 1.1275 (50% retracement). On the downside, support is seen at 1.1119, a break below could drag it below 1.1053 (21-DMA).
USD/JPY: The dollar steadied, reversing some of its previous session losses after a Reuters Tankan survey showed Japanese business confidence plunged to decade lows in March as the spreading epidemic stoked fears of a global recession. The major was trading 0.7 percent up at 106.63, having hit a high of 108.50 on Friday, its highest since March 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, capacity utilization, business inventories, NAHB housing market index and JOLT Job Opening. Immediate resistance is located at 108.04 (21-DMA), a break above targets 108.53. On the downside, support is seen at 105.00, a break below could take it near at 104.50.
GBP/USD: Sterling plunged, hovering towards an over 5-month low hit in the prior session, weighed down by worries about Britain’s exit from the European Union and also its sizable current account deficit. Moreover, the selling pressure around the major intensified as money markets priced in nearly a 30 percent probability of a quarter-point rate cut at the BoE’s next policy meeting. The major traded 0.3 percent lower at 1.2231, having hit a low of 1.2202 on Monday, it’s lowest since Oct. 10. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2437 (23.6% retracement of 1.3200 and 1.2202), a break above could take it near 1.2583 (38.2% retracement). On the downside, support is seen at 1.2179, a break below targets 1.2154. Against the euro, the pound was trading 0.2 percent down at 91.28 pence, having hit a low of 91.50 on Monday, it’s lowest since Aug. 22.
AUD/USD: The Australian dollar plunged to a fresh 11-year low after minutes of the Reserve Bank of Australia’s March meeting released earlier showed policymakers were ready and willing to ease monetary conditions further to support the Australian economy. The Aussie trades 0.8 percent down at 0.6074, having hit a low of 0.6065 earlier, it’s lowest since October 2008. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.6211 (23.6% retracement of 0.6684 and 0.6065), a break above could take it near 0.6301 (38.2% retracement). On the downside, support is seen at 0.6036, a break below targets 0.6004.
NZD/USD: The New Zealand dollar eased following weak Westpac Consumer Sentiment Index data. Westpac Consumer Sentiment Index declined from 109.9 to 104.2 in the first quarter, while the Present Conditions Index fell from 110.1 to 103.4, with the Expected Conditions Index falling from 109.8 to 104.7. Earlier in the day, the major attempted a minor recovery after New Zealand said it would pump NZ$12.1 billion ($7.31 billion) or 4 percent of its GDP into the economy to soften the negative economic impact from the coronavirus. The Kiwi trades 0.1 percent down at 0.6039, having touched a low of 0.5984 on Monday, its lowest level since May 2009. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6094 (23.6% retracement 0.6447 and 0.5984), a break above could take it near 0.6161 (38.2% retracement). On the downside, support is seen at 0.5970, a break below could drag it below 0.5935.
Asian shares consolidated within narrow ranges after suffering its third-largest daily percentage decline on record in the previous session.
MSCI's broadest index of Asia-Pacific shares outside Japan traded flat.
Tokyo's Nikkei rose 0.1 percent to 17,011.53 points, Australia's S&P/ASX 200 index gained 5.8 percent to 5,293.40 points and South Korea's KOSPI slumped 2.5 percent to 1,672.44 points.
Shanghai composite index eased 0.3 percent to 2,779.64 points, while CSI 300 index traded 0.5 percent down at 3,709.68 points.
Hong Kong’s Hang Seng traded 1.1 percent higher at 23,301.25 points. Taiwan shares shed 2.8 percent to 9,439.63 points.
Crude oil prices rose more than $1 as the recent sharp falls due to the coronavirus pandemic encouraged profit-taking, although the market remains volatile as the spread of the infection disrupts economies. International benchmark Brent crude was trading 3.6 percent higher at $30.65 per barrel by 0612 GMT, having hit a low of $29.45 on Monday, its lowest since Jan. 2016. U.S. West Texas Intermediate was trading 3.9 percent up at $29.84 a barrel, after falling as low as $27.40 last week, its lowest since Feb. 2016.
Gold prices declined, extending losses for the sixth straight session, as investors continued to sell assets across markets to keep their money in cash amid heightened panic over the coronavirus pandemic. Spot gold eased 1.9 percent to $1,485.15 per ounce by 0616 GMT, having touched a low of $1451.43 on Monday, its lowest since Nov. 26. U.S. gold futures rose 1.7 percent to $1,511.50.
On Monday, U.S. government bonds yields fell but remained off the session lows plumbed in overnight trade after the Federal Reserve announced that it would slash interest rates near zero and pledged billions of dollars in asset purchases.