Asia Roundup: Yen eases as investors eye U.S.-China trade talks, greenback steadies on Fed Chair Powell's comments, Asian shares tumble - Wednesday, October 9th, 2019
Europe Roundup: Sterling off 5-month highs as investors await Brexit talks, euro tumbles as EZ inflation eases more than expected, markets eye U.S. retail sales - October 16th, 2019
America’s Roundup: Dollar flat after FOMC meeting minutes,Wall Street advances, Gold little changed, Oil rises on signs of warming U.S.-China tensions-Oct 10th,2019
Asia Roundup: Kiwi eases on RBNZ rate cut expectations, dollar off highs against yen on Hong Kong worries, investors eye EZ CPI figures - Wednesday, October 16th, 2019
Asia Roundup: Aussie treads water amid further monetary easing concerns, dollar at 1-week low against yen as weak U.S. data fuels global slowdown worries, Asian shares plunge to 1-month trough - Thursday, October 3rd, 2019
Europe Roundup: Sterling at 1-week low amid prevailing no-deal Brexit fears, euro gains on better-than-expected German industrial data, European shares plunge - Tuesday, October 8th, 2019
America's Roundup: Dollar dips as U.S.-China trade negotiations begin, Wall Street gain,Gold slips, Oil prices rise as OPEC pledges decision on supply-October 11th,2019
Europe Roundup: Sterling eases on Brexit concerns, dollar gains against yen on U.S.-China trade deal hopes, European shares surge - Wednesday, October 9th, 2019
Asia Roundup: Kiwi steadies as RBNZ rate cut concerns ease, yen rallies amid caution over U.S.-China trade talks, Asian shares surge - Monday, October 7th, 2019
America's Roundup: Dollar firms on doubts over Sino-U.S. trade talks,Wall Street falls, Gold eases, Oil prices drop –October 8th 2019
Asia Roundup: Aussie gains on upbeat economic data, dollar at 1-week peak against yen on trade deal hopes, investors eye UK GDP figures - Thursday, October 10th, 2019
Europe Roundup: Sterling eases as no-deal Brext fears persist; Swiss franc, yen gain as trade deal optimism ebb, European shares slump - Monday, October 14th, 2019
Asia Roundup: Kiwi rallies on upbeat economic data, dollar gains against yen ahead of U.S.-China trade talks, Asian shares nudge higher - Tuesday, October 8th, 2019
Asia Roundup: Antipodeans off-highs on soft Chinese trade data, greenback rebounds on U.S.-China trade optimism, Asian shares surge - Monday, October 14th, 2019
Europe Roundup: Sterling eases on persisting no-deal Brexit fears, greenback plunges amid renewed Fed rate cut expectations, investors eye U.S. nonfarm payroll report - Friday, October 4th, 2019
America’s Roundup: Dollar slips versus yen as trade tensions weigh, Wall Street dips,Gold rises, Oil falls on U.S.-China talks-Oct 9th,2019
Asia Roundup: Dollar steadies as expectations for deep U.S. interest rate cuts ease, gold gains on Middle East tensions, Asian shares plunge - Monday, July 22nd, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rallied as investors scaled back expectations of an aggressive interest rate cut by the Federal Reserve. On Friday, FOMC’s Bullard suggested a 25 bps rate cut should be appropriate, while Boston Federal Reserve President Eric Rosengren's said he does not see a scenario of lower rates. The greenback against a basket of currencies traded 0.1 percent up at 97.20, having touched a low of 96.67 on Thursday, its lowest since June 4.
EUR/USD: The euro eased, extending previous session losses, as investors expect the European Central Bank to either cut rates or keep settings accommodative at its monetary policy meeting on Thursday. The European currency traded 0.05 percent down at 1.1216, having touched a low of 1.1199 on Wednesday, its lowest since July 9. Investors’ attention will remain on the U.S. Chicago Fed National Activity Index, amid a lack of economic data from the Eurozone docket. Immediate resistance is located at 1.1246 (23.6% retracement of 1.1412 and 1.1193), a break above targets 1.1278 (38.2% retracement). On the downside, support is seen at 1.1193 (July 9 Low), a break below could drag it below 1.1193 (July 9 Low).
USD/JPY: The dollar surged to a 5-day peak against the Japanese yen as investors tempered their expectations for deep U.S. interest rate cuts this month. However, the upside in the pair appears limited as the UK and Iran tension, and concerns over the U.S.-China trade negotiations supported safe-haven assets. The major was trading 0.3 percent up at 107.99, having hit a low of 107.21 on Thursday, its lowest since June 26. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. Chicago Fed National Activity Index and Bank of Japan Governor Haruhiko Kuroda’s speech for clues on monetary policy. Immediate resistance is located at 108.32 (July 17 High), a break above targets 108.63 (July 5 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 steadied after easing from a near 1-week peak in the previous session, supported by a vote by U.K. lawmakers last week that will make it harder for Britain’s next prime minister to try to force a no-deal Brexit. The major traded 0.1 percent up at 1.2505, having hit a high of 1.2558 on Thursday, it’s highest since July 15. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2574 (21-DMA), a break above could take it near 1.2648 (July 2 High). On the downside, support is seen at 1.2439 (July 9 Low), a break below targets 1.2396 (July 16 Low). Against the euro, the pound was trading 0.05 percent up 89.70 pence, having hit a high of 89.54 earlier, it’s highest since July 15.
AUD/USD: The Australian dollar consolidated within narrow ranges, as investors refrained from taking big positions amid growing concerns over the Reserve Bank of Australia’s next policy move. The Aussie trades flat at 0.7038, having hit a high of 0.7082 on Friday, it’s highest since Apr. 24. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7015 (July 4 Low), a break below targets 0.6985 (July 3 Low). On the upside, resistance is located at 0.7091 (Mar 12 High), a break above could take it near 0.7147 (Mar 26 High).
NZD/USD: The New Zealand dollar surged, hovering towards a 3-1/2 month high hit in the previous session, as investors' focus remains on China as Beijing and Washington seek to end a protracted trade war. The major trades 0.2 percent up at 0.6773, having touched a high of 0.6790 on Friday, its highest level Apr. 4. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6823 (Mar. 29 High), a break above could take it near 0.6858 (Mar. 15 High). On the downside, support is seen at 0.6723 (July 18 Low), a break below could drag it below 0.6664 (July 1 Low).
Asian shares slumped as expectations for a larger cut were scaled back after the Wall Street Journal reported the Fed was likely to cut rates by 25 bps this month.
MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 0.4 percent.
Tokyo's Nikkei fell 0.3 percent to 21,405.61 points, Australia's S&P/ASX 200 index plunged 0.2 percent to 6,688.70 points and South Korea's KOSPI advanced 0.1 percent to 2,096.30 points.
Shanghai composite index eased 0.9 percent to 2,897.86 points, while CSI 300 index traded 0.3 percent declined at 3,795.53 points.
Hong Kong’s Hang Seng traded 0.9 percent lower at 28,518.44 points. Taiwan shares added 0.7 percent to 10,944.53 points.
Crude oil prices surged amid high tensions in the Middle East after a British tanker was seized by the Iranian military at the end of last week. International benchmark Brent crude was trading 0.7 percent higher at $63.23 per barrel by 0502 GMT, having hit a low of $61.26 on Thursday, its lowest since June 18. U.S. West Texas Intermediate was trading 0.8 percent up at $56.17 a barrel, after falling as low as $54.71 on Thursday, its lowest since the June 20.
Gold prices rose after easing from a 6-year peak in the previous session as tensions in the Middle East and weaker financial markets supported the metal. Spot gold was trading 0.1 percent up at $1,427.17 per ounce by 0506 GMT, having touched a high of $1,452.80 on Friday, its highest since May, 2013. U.S. gold futures were up 0.1 percent at $1,428.50 an ounce.
The Japanese government bond futures rose, with the 10-year JGB futures rising 0.03 point to 153.59. The 10-year JGB yield was flat at minus 0.140 percent. The two-year JGB yield was also unchanged, at minus 0.205 percent. The 30-year JGB yield rose 0.5 basis point to 0.375 percent, while the 40-year JGB yield rose 1 basis point to 0.415 percent.
The Australian government bonds jumped during Asian session of the first trading day of the week amid a muted trading session that witnessed data of little economic significance ahead of the Reserve Bank of Australia’s (RBA) Assistant Governor Christopher Kent’s speech, scheduled to be held today at 22:30GMT. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slumped 2-1/2 basis points to 1.335 percent, the yield on the long-term 30-year bond also suffered 2-1/2 basis points to 1.978 percent and the yield on short-term 2-year traded nearly 1 basis point down at 0.954 percent.