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
Asia Roundup: Aussie at 1-week peak on Trump's assurance over U.S.-China trade pact, dollar gains as traders speculate pandemic recovery, Asian shares rebound - Tuesday, June 23rd, 2020
America’s Roundup: U.S. dollar rises as surge in coronavirus cases boosts haven bid,Wall Street falls, Gold slides, Oil settles lower on rise in U.S. coronavirus cases-June 27th,2020
Asia Roundup: Aussie gains on vaccine hopes, greenback at 1-week trough ahead of U.S. payrolls, Asian shares rally - Thursday, July 2nd, 2020
America’s Roundup: Dollar gains on coronavirus, tariff concerns, Wall Street ends lower, Gold retreats from an over 7-1/2 year high, Oil dives over 5% as U.S. crude stocks hit record, COVID cases mount-June 25th 2020
Europe Roundup: Sterling gains on weaker dollar, Brexit hopes, European shares dips,Gold hits 1-month peak, Oil steady as a rise in virus cases counters tighter supplies-June 22nd 2020
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
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
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
Asia Roundup: Euro eases following ECB Knot's comments, yen rallies as resurgent virus threatens global economic recovery, Asian shares consolidate - Friday, June 26th, 2020
Europe Roundup: Sterling heads for first weekly win against dollar, European stocks dips, Gold holds steady, Oil falls below $43 on virus fears, still heads for weekly gain-July 3rd 2020
America’s Roundup: Dollar falters as decent U.S. data curbs safe haven demand, Wall Street gains, Gold retreats from near 8-year peak, Oil prices firm on factory, inventory data-July 2nd, 2020
America’s Roundup: Dollar stumbles as jump in coronavirus cases dented the economic outlook, Wall Street ends higher, Gold hits highest since October 2012, Oil flat, near highest since March, after Trump assurance on China trade-June 24th,2020
America’s Roundup: Dollar dips as infections spike hits confidence,Wall Street ends higher, Gold jumps, Oil up above 2% on tighter supplies, eased lockdowns-June 23rd 2020
Europe Roundup: Euro dips as coronavirus surge unnerves investors European stocks dips, Gold soars towards 8-year high, Oil falls on rising stocks, worries of new virus wave-June 24th,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: Aussie rallies on upbeat employment report, greenback eases as U.S. Treasury yields resume decline, Asian shares plunge - Thursday, July 18th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index slumped after the International Monetary Fund said that the greenback was overvalued by 6 percent to 12 percent, based on near-term economic fundamentals. The greenback against a basket of currencies traded 0.1 percent down at 97.08, having touched a low of 96.72 on Friday, its lowest since June 5.
EUR/USD: The euro surged, extending gains for the third straight session, as the greenback eased across the board. However, the upside appears limited amid expectations of easing from the European Central Bank as early as next week. The European currency traded 0.1 percent up at 1.1236, having touched a low of 1.1199 earlier, its lowest since July 9. Investors’ attention will remain on the U.S. unemployment benefit claims and Philadelphia Fed manufacturing survey, amid a lack of economic data from the Eurozone docket. Immediate resistance is located at 1.1278 (38.2% retracement of 1.1412 and 1.1193), a break above targets 1.1304 (50.0% retracement). On the downside, support is seen at 1.1193 (July 9 Low), a break below could drag it below 1.1160 (June 3 Low).
USD/JPY: The dollar plunged to a 2-week low as the Treasury yields fell in the wake of weak U.S. housing market data and concerns about the prolonged U.S.-China trade dispute. The pair was trading 0.2 percent down at 107.71, having hit a low of 107.64 earlier, its lowest since July 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims and the Philadelphia Fed manufacturing survey. Immediate resistance is located at 108.53 (July 1 High), 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 consolidated near 6-1/2 month lows hit in the previous session as investors refrained from taking big positions amid growing risks of Britain leaving the European Union in a no-deal Brexit. The major traded flat at 1.2436, having hit a low of 1.2382 on Wednesday, it’s lowest since Jan. 3. Investors’ attention will remain on the development surrounding Brexit, UK retail sales, producer price index, and consumer price index ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2488 (50.0% retracement of 1.2578 and 1.2396), a break above could take it near 1.2542 (78.6% retracement). On the downside, support is seen at 1.2373 (Jan. 3 Low), a break below targets 1.2334. Against the euro, the pound was trading 0.1 percent down at 90.35 pence, having hit a low of 90.51 on Wednesday, it’s lowest since Jan. 11.
AUD/USD: The Australian dollar rallied, halting a 2-day losing streak after data released earlier showed the country’s jobless rate remained stable at 5.2 percent for a third straight month and full-time employment surged in June, reducing the prospect of near-term easing by the Reserve Bank of Australia. The Aussie trades 0.3 percent up at 0.7033, having hit a high of 0.7044 on Tuesday, 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 0.6985 (July 3 Low), a break below targets 0.6941 (June 25 Low). On the upside, resistance is located at 0.7047 (July 4 High), a break above could take it near 0.7091 (Mar 12 High).
NZD/USD: The New Zealand dollar advanced to a 3-month peak as the greenback eased on weaker-than-expected U.S. housing data that increased expectations for an interest rate cut by the U.S. Federal Reserve. The Kiwi trades 0.2 percent up at 0.6744, having touched a high of 0.6746 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 0.6664 (July 1 Low), a break below could drag it below 0.6602 (July 5 Low).
Asian shares plunged as Wall Street stocks tumbled on early signs that the U.S.-China trade war could hurt corporate earnings.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent.
Tokyo's Nikkei declined 2.2 percent to 21,005.53 points, Australia's S&P/ASX 200 index fell 0.5 percent to 6,642.50 points and South Korea's KOSPI tumbled 0.4 percent to 2,064.12 points.
Shanghai composite index eased 0.8 percent to 2,908.43 points, while CSI 300 index traded 0.7 percent down at 3,777.43 points.
Hong Kong’s Hang Seng traded 0.6 percent lower at 28,416.95 points. Taiwan shares shed 0.3 percent to 10,799.28 points.
Crude oil prices steadied after falling for three straight after data showed U.S. stockpiles of products like gasoline rose sharply last week, indicating weak demand during the peak driving season. . International benchmark Brent crude was trading 0.4 percent higher at $63.75 per barrel by 0446 GMT, having hit a low of $63.20 on Wednesday, its lowest since July 5. U.S. West Texas Intermediate was trading 0.3 percent up at $56.74 a barrel, after falling as low as $56.19 on Wednesday, its lowest since the July 3.
Gold prices eased from a two week peak hit earlier in the session, amid growing expectations for an interest rate cut by the U.S. Federal Reserve. Spot gold was trading 0.3 percent down at $1,422.11 per ounce by 0511 GMT, having touched a high of $1,430.02 earlier, its highest since July 3. U.S. gold futures rose 0.3 percent to $1,427.30 an ounce.
The Japanese government bond prices gained, boosted by investor demand for safe-haven debt. The five-year JGB yield eased 1.5 basis points to minus 0.230 percent and the benchmark 10-year yield declined by 1 basis point to minus 0.140 percent. The 30-year yield was down 1 basis point at 0.360 percent.
The Australian government bonds jumped during Asian session tracking a similar movement in the U.S. Treasuries despite a tad higher growth in the country’s employment for the month of June, although unemployment rate remained unchanged. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged nearly 5-1/2 basis points to 1.346 percent, the yield on the long-term 30-year bond remained flat at 2.054 percent and the yield on short-term 2-year slipped 1 basis point to 0.950 percent.