Europe Roundup: Sterling at 8-month peak on expectations of Conservative win in UK election, euro steadies as EZ investor morale improves, European shares tumble - Monday, December 9th, 2019
Asia Roundup: Antipodeans at multi-week peaks on Fed's dovish stance, dollar consolidates within narrow ranges against yen as tariffs decision looms, investors eye UK election - Thursday, December 12th, 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 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
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 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
Europe Roundup: Sterling at multi-year highs on Johnson's UK election victory, euro rallies on ECB De Guindos' comments, European shares surge - Friday, December 13th, 2019
Europe Roundup: Sterling gains on Conservative Party victory expectations, euro rallies as EZ investor sentiment improve, European shares slump - Tuesday, December 10th, 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 edges lower after Fed holds rates steady, Wall Street gains, Gold firms,Oil drops on surprise U.S. crude build but tariff deadline eyed-December 12th,2019
America’s Roundup: Dollar holds ground as central bank meetings loom, Wall Street falls, Gold inches up, Oil prices slip as weak China exports highlight trade war impact-December 10th,2019
Asia Roundup: Antipodeans surge, dollar rallies against yen on upbeat Chinese factory activity, Asia shares advance - Monday, December 2nd, 2019
Asia Roundup: Antipodeans rally as U.S.-China trade deal takes shape, sterling at 1-1/2 year peak as Boris maintains his seat in UK election, Asian shares advance - Friday, December 13th, 2019
Europe Roundup: Sterling off highs on UK poll projections; Swiss franc, yen gains on U.S.-China trade concerns, greenback steadies ahead of Fed policy statement - Wednesday, December 11th, 2019
Asia Roundup: Kiwi at 4-month peak, dollar steadies against yen on trade deal optimism; Asian shares rally - Friday, December 6th, 2019
America's Roundup: Dollar slides to two-week low after soft U.S. manufacturing data, Wall Street falls ,Gold dips,Oil futures rise on talk of further OPEC+ supply curbs-December 2nd 2019
Asia Roundup: Kiwi at 1-week trough ahead of labour market data, greenback steadies on U.S.-China trade deal optimism, Asian shares surge - Wednesday, November 6th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index steadied near a 3-week peak after a survey on the U.S. service sector published yesterday showed that business sentiment had improved in October from a three-year low in September. The greenback against a basket of currencies traded flat at 97.91, having touched a high of 98.11 on Tuesday, its lowest since October 17.
EUR/USD: The euro declined, hovering towards a near 3-week low hit in the previous session, as the greenback surged on the back of strong U.S. economic data. The European currency traded 0.05 percent down at 1.1065, having touched a low of 1.1063 on Tuesday, its lowest since October 17. Investors’ attention will remain on a series of data from the Eurozone economies, EZ service PMI and retail sales, ahead of the U.S. economic data, including flash nonfarm productivity and unit labour cost data. Immediate resistance is located at 1.1088 (21-DMA), a break above targets 1.1119 (10-DMA). On the downside, support is seen at 1.1045, a break below could drag it below 1.1022.
USD/JPY: The dollar edged down after rising to a near 1-week peak in the prior session on rising hopes for a U.S.-China trade deal and a string of solid U.S. economic data. Investors expect that the Trump administration could roll back some of the tariffs it imposed on goods from China as part of a phase one U.S.-China trade deal. The major was trading 0.1 percent down at 109.07, having hit a high of 109.25 on Tuesday, its highest since October 30. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. flash nonfarm productivity and unit labour cost data. Immediate resistance is located at 109.28 (October 30 High), a break above targets 109.62 (May 31 High). On the downside, support is seen at 108.89, a break below could take it near at 108.54 (5-DMA).
GBP/USD: Sterling consolidated within narrow ranges, as the Bank of England is set to hold interest rates unchanged at a policy meeting on Thursday and a national election less than six weeks away. Investors will closely watch any changes in opinion poll trends for the major political parties before taking big positions on the British pound. The major traded flat at 1.2877, having hit a high of 1.2975 on Thursday, it’s highest since October 22. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2949 (October 24 High), a break above could take it near 1.3000. On the downside, support is seen at 1.2806, a break below targets 1.2748. Against the euro, the pound was trading flat at 85.97 pence, having hit a high of 85.74 last month, it’s highest since May 8.
AUD/USD: The Australian dollar rose, extending previous session gains, as the Aussie 10-year yield hit the highest level in over three months. The 10-year yield is trading at 1.254 percent, the highest level since July 25, representing a 17 basis point gain on the low of 1.08 registered on November 1. The Aussie trades 0.1 percent up at 0.6897, having hit a low of 0.6876 on Tuesday, it’s lowest since October 30. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6868 (10-DMA), a break below targets 0.6838. On the upside, resistance is located at 0.6921, a break above could take it near 0.6950.
NZD/USD: The New Zealand dollar plunged to a 1-week low as investors cautiously awaited domestic labour market data. The economy's unemployment rate is expected to rise to 4.1 percent in the third quarter, up from 3.9 percent in the previous quarter, while the employment change is forecast to slow notably, from 0.8 percent to 0.3 percent. The Kiwi trades 0.05 percent down at 0.6373, having touched a low of 0.6364 earlier, its lowest level since October 30. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6435 (October 22 High), a break above could take it near 0.6456 (November 1 High). On the downside, support is seen at 0.6358 (21-DMA), a break below could drag it below 0.6300.
Asian shares surged as investors cheered on better-than-expected U.S. services sector data and rising hopes for a U.S.-China trade deal.
MSCI's broadest index of Asia-Pacific shares outside Japan rallied 0.1 percent.
Tokyo's Nikkei gained 0.2 percent to 23,297.25 points, Australia's S&P/ASX 200 index fell 0.6 percent to 6,660.20 points and South Korea's KOSPI surged 0.1 percent to 2,145.66 points.
Shanghai composite index declined 0.3 percent to 2,982.69 points, while CSI 300 index traded 0.3 percent down at 3,990.49 points.
Hong Kong’s Hang Seng traded 0.2 percent higher at 27,725.79 points. Taiwan shares added 0.1 percent to 11,653.07 points.
Crude oil prices declined, weighed down by a larger-than-expected build-up in U.S. crude stocks, after gaining for three straight sessions on expectations of an easing of in U.S.-China trade tensions. International benchmark Brent crude was trading 0.6 percent down at $62.55 per barrel by 0447 GMT, having hit a high of $63.17 on Tuesday, its highest since September 24. U.S. West Texas Intermediate was trading 0.6 percent down at $56.88 a barrel, after rising as high as $57.46 on Tuesday, its highest since September 24.
Gold prices steadied after tumbling more than 1 percent in the previous session, as investors awaited further clarity on the U.S.-China trade talks. Spot gold was trading 0.2 percent up at $1,485.88 per ounce by 0451 GMT, having dipped 1.7 percent to a low of $1,479.27 on Tuesday, its lowest since Oct. 16. U.S. gold futures were 0.3 percent higher at $1,488 per ounce.
The Australian government bonds continued to down trend during Asian session Wednesday tracking a similar movement in the United States’ Treasuries after optimism struck over the U.S.-China trade deal, urging investors to shift towards riskier assets.The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 3-1/2 basis points to 1.251 percent, the yield on the long-term 30-year bond surged 3 basis points to 1.826 percent while the yield on short-term 2-year remained flat at 0.897 percent.
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