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Asia Roundup: - Japanese yen remains almost unchanged after CPI, core CPI data; Asian markets mixed, gold trades flat at $1,560 mark - Friday, January 24, 2020

Market Roundup

  • Taiwan, China, Singapore and South Korean markets will remain close.
     
  • Japan’s national CPI y/y stands at 0.8 pct vs 0.5 pct previous release.
     
  • Japan’s national core CPI y/y stands at 0.7 pct vs 0.5 pct previous release (expected 0.7).
     
  • Japan’s manufacturing PMI stands at 49.3 pct vs 48.4 pct previous release.
     
  • Kiwi’s CPI q/q stands at 0.5 pct vs 0.7 pct previous release (expected 0.4 pct).
     
  • Australia’s manufacturing PMI stands at 49.1 pct vs 49.2 pct previous release.
     
  • Australia’s flash services PMI stands 48.9 pct vs 49.8 pct previous release.

Economic Data Ahead

  • (0300 ET/0800 GMT) Spain PPI.
     
  • (0315 ET/0815 GMT) France manufacturing PMI, services PMI, composite PMI.
     
  • (0330 ET/0830 GMT) German manufacturing PMI, services PMI, composite PMI.
     
  • (0400 ET/0900 GMT) Euro zone manufacturing PMI, services PMI, composite PMI; Italy trade balance.
     
  • (0430 ET/0930 GMT) U.K. manufacturing PMI, services PMI, composite PMI.
     
  • (0600 ET/1100 GMT) Brazil’s FGV consumer confidence.
     
  • (0630 ET/1130 GMT) India’s FX reserves.

Key Events Ahead

  • (0430 ET/0930 GMT) ECB President Lagarde’s speech.

FX Recap

USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.036% to 97.52.

EUR/USD: The euro falls drastically against U.S. dollar after ECB’s monetary policy statement and currently trading $1.1049 mark on Friday. A sustained close above $1.1051 will drag the parity higher towards key resistances around $1.1142, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively. On the other hand, a consistent close below $1.1051 will drag the parity down towards key supports around $1.1017, $1.0919 and $1.0852 levels respectively.

USD/JPY: The Japanese yen remains almost unchanged after CPI, core CPI data. The pair is currently trading around 109.51 mark. A sustained close above 110.18 is required to take the parity higher towards key resistances around 110.50, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 109.49 will drag the parity down towards key support around 109.02, 108.40, 106.90 and 104.20 marks respectively.

GBP/USD: The Pound trades flat against U.S. dollar and stabilizes above $1.31 mark. The pair is currently stabilizes above 1.3125 mark. A sustained close below $1.2935 requires for dragging the parity down towards key support around $1.2820, $1.2644 and $1.2352 mark respectively. On the other side, key resistances are seen at $1.3157, $1.3335, $1.3422 and $1.3515 levels respectively.

AUD/USD: The Aussie trades marginally lower against U.S. dollar after Australia’s manufacturing PMI as well as services PMI data. Pair made intraday high at $0.6851 and low at $0.6837 mark. A consistent close below $0.6843 requires for downside rally towards $0.6804 and $0.6754 mark respectively. On the other side, a sustained close above $0.6865 will take the parity higher towards $0.6903, $0.6942, $0.7076 and $0.7122 levels respectively.

NZD/USD: The Kiwi rises in early Asia on the back of higher than expected CPI data and stabilizes above $0.6600 mark. The pair is currently trading around $0.6620 mark. A sustained close above $0.6646 requires for the upside rally. Alternatively, a consistent close below $0.6590 will take the parity down towards key supports around $0.6502, $0.6424, $0.6323, $0.6236 and $0.6196 levels respectively.

Equities Recap

Japan’s Nikkei was trading 0.20 pct higher at 23,844.50 points.

Australia’s S&P/ASX 200 was trading 0.15 pct higher at 7,098.10 points.

Hong kong’s Hang seng was trading 0.03 pct lower at 27,901.00 points.

India’s NSE was trading 0.50 pct higher at 12,241.85 points and BSE sensex 0.47 pct higher at 41,575.43 points.

Commodities Recap

Gold consolidates around $1,560 mark. A sustained close above $1,562 requires for the upside rally. On the other side, a consistent close below $1,546 will drag the parity down towards key supports around $1,530, $1,511, $1,490, $1,472 and $1,458 mark respectively. On the top side, key resistances are seen at $1,574, $1,597 and $1,611 mark respectively.

Oil prices recover previous loss and trades marginally higher on Friday. Brent crude futures were up by 19 cents to $62.23. The West Texas Intermediate contract was up by 18 cents to $55.77 a barrel.

Treasuries Recap

The yield on Australia’s benchmark 10-year note, which moves inversely to its price, trades lower to  1.087 points, the yield on the long-term 15-year bond trades down to 1.180 points and the yield on short-term 2-year fell nearly 0.004 pct to 0.753 points.

The yield on the benchmark 10 - year JGB note, which moves inversely to its price, trades slightly down to -0.023 points, the yield on the long-term 30 - year fell -0.010 pct to 0.406 points and the yield on short-term 2 - year fell to -0.128 points.

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