Europe Roundup: Sterling dips against Brexit deadlock weighs,European shares gains, Gold edges up, Brent oil hits $45 on hopes for COVID-19 vaccine, U.S. crude stock draw-November 11th,2020
Europe Roundup:Euro little changed against dollar as vaccine cheers fades ,European shares gain, Gold little changed,Oil rises on hopes for delay to OPEC+ supply increase-November 18th,2020
Europe Roundup: Euro gains as ECB's cautious optimism on vaccine supports single currency, European shares edged lower ,Gold steady, Oil falls on COVID-19 surge but on track for weekly gain-November 13th,2020
America’s Roundup: Dollar gains in tug-of-war between vaccine, rising virus cases, Wall Street closes lower, Gold firms, Oil rises about 1%, posts third week of gains on vaccine hopes-November 21st 2020
Asia Roundup: Aussie at 1-week peak following RBA minutes, dollar slumps against yen amid worries about second coronavirus wave, Biden transition; Asian shares surge on vaccine hopes - Tuesday, November 17th, 2020
Europe Roundup:Euro gains on vaccine cheer, European shares gain, Gold slips, Oil prices rise on back of COVID vaccine news-November 23rd,2020
America’s Roundup: Dollar weakens on rising coronavirus case numbers, Wall Street closes lower, Gold range-bound, Oil steady as pandemic lockdown worries offset vaccine hopes-November 18th,2020
America’s Roundup: Dollar little changed by optimistic news on another COVID vaccine, Wall Street gains, Gold slides 1%, Oil settles higher boosted by latest COVID-19 vaccine progress-November 17th,2020
America’s Roundup: Dollar slips on hopes for vaccine, smooth Biden transition, Wall Street ends higher, Gold extends fall, Oil closes at highest level since March on vaccine trials, Biden transition-November 25th,2020
America’s Roundup: Dollar bounces from three-month low, Wall Street rises, Gold falls to 4-month low, Oil prices settle up over 2% on COVID-19 vaccine news-November 24th,2020
Asia Roundup: Kiwi rallies as RBNZ unveils new lending scheme, dollar eases against yen amid concerns over rising virus cases, Asian shares surge as vaccine hopes offset second-wave worries- Wednesday, November 11th, 2020
Europe Roundup: Sterling holds near 3-month high despite Scottish referendum talk, European shares edges higher, Gold edges down ,Oil prices set for weekly gain ahead of OPEC+ meeting-November 27th,2020
Europe Roundup: Sterling down as Britain's economy struggles to maintain recovery ,European shares fall, Gold edges higher, Oil keeps climbing on hopes OPEC+ will hold back supply as COVID-19 cases rise-November 12th,2020
America’s Roundup: Dollar falls to lowest level in almost 3 months, Wall Street rises, Gold dives below $1,800, Oil prices post weekly gain ahead of OPEC+ meeting-November 28th,2020
America’s Roundup: Dollar rises again as markets adjust to vaccine hope and higher yields, Wall Street ends mixed, Gold inches up, Brent touches $45/bbl on vaccine hopes and U.S. crude drawdown-November 12th,2020
Asia Roundup: Kiwi at 20-month peak as negative rate speculations ease, yen gains as investors adjust vaccine expectations, Asian shares surge - Thursday, November 20th, 2020
Asia Roundup: Yen rallies as coronavirus worries deepen, gold set for 5th straight weekly gain, Asian shares slump - Friday, July 10th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index surged after yesterdays weekly data showed the number of Americans filing for initial jobless benefits dropped to a near four-month low last week. The greenback against a basket of currencies traded 0.1 percent lower at 96.90, having touched a low of 96.24 on Thursday, its lowest since June 11.
EUR/USD: The euro eased, extending previous session losses as investors awaited fresh developments on a European Union recovery fund that aims to help the region’s economy rebound from the coronavirus pandemic. The European currency traded 0.2 percent down at 1.1264, having touched a high of 1.1370 on Thursday, its highest since June 11. Investors’ attention will remain on a series of data from Eurozone economies, ahead of the U.S. producer price index. Immediate resistance is located at 1.1310, a break above targets 1.1332. On the downside, support is seen at 1.1240, a break below could drag it below 1.1215.
USD/JPY: The dollar plunged to a 2-week low after a surge in new coronavirus infections in the United States undermined the case for a quick recovery in the economy. The major was trading 0.3 percent down at 106.84, having hit a low of 106.83 earlier, its lowest since June 26. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index. Immediate resistance is located at 107.44 (10-DMA), a break above targets 107.90. On the downside, support is seen at 106.66, a break below could take it near at 106.38.
GBP/USD: Sterling eased after rising to a 3-1/2 week peak in the prior session on finance minister Rishi Sunak’s plans to revive the economy. Sunak promised an additional 30 billion pounds ($38 billion) and announced bonuses to get furloughed staff back to work, cut value-added tax for the hospitality sector and temporarily scrapped a property tax on purchases of homes costing up to 500,000 pounds. The major traded 0.3 percent down at 1.2573, having hit a high of 1.2669 on Thursday, it’s highest since June 16. Investors’ attention will remain on the geopolitical developments ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2653, a break above could take it near 1.2691. On the downside, support is seen at 1.2545 (5-DMA), a break below targets 1.2500. Against the euro, the pound was trading 0.05 percent down at 89.55 pence, having hit a high of 89.45 earlier, it’s highest since June 17.
AUD/USD: The Australian dollar slumped as a surge in new coronavirus infections in the United States dented investor risk appetite. The major trades 0.5 percent down at 0.6928, having hit a high of 0.7001 on Thursday, it’s highest since June 11. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate resistance is located at 0.7005, a break above could take it near 0.7042. On the downside, support is seen at 0.6902 (21-DMA) a break below targets 0.6862.
Asian shares declined as record-breaking new coronavirus cases in several U.S. states stoked concern about economic recovery.
MSCI's broadest index of Asia-Pacific shares outside Japan slumped 0.7 percent.
Tokyo's Nikkei eased 1.05 percent to 22,290.81 points, Australia's S&P/ASX 200 index fell 0.6 percent to 5,919.20 points. South Korea's KOSPI slumped 0.8 percent to 2,150.25 points.
Shanghai composite index eased 1.9 percent to 3,383.32 points, while CSI 300 index traded 1.8 percent down at 4,753.13 points.
Hong Kong’s Hang Seng traded 2.4 percent lower at 25,576.17 points. Taiwan shares shed 0.9 percent to 12,073.68 points.
Crude oil prices slumped to an over 1-week trough and were headed for weekly declines on worries that renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere would suppress fuel demand. International benchmark Brent crude was trading 1.3 percent down at $41.79 per barrel by 0607 GMT, having hit a low of $41.63 earlier, its lowest since July 1. U.S. West Texas Intermediate was trading 1.6 percent lower at $38.95 a barrel, after falling as low as $38.85 earlier, its lowest since June 29.
Gold prices declined but were set for a fifth straight weekly gain as worries over a spike in U.S. coronavirus cases kept the safe-haven metal near the $1,800-per-ounce level. Spot gold was trading 0.3 percent down at $1,797.53 per ounce by 0625 GMT, having hit a high of $1,818.09 on Wednesday, its highest since September 2011 and was up nearly 1.5 percent for the week. U.S. gold futures rose 0.2 percent to $1,806.80.
The U.S. Treasury yields edged lower, with the benchmark 10-year note yield trading at 0.589 percent.