Europe Roundup: Euro rallies on Franco-German proposal for recovery fund, European shares dips, Gold edges higher, Oil gains on signs of output cuts, improved demand-May 19th,2020
Asia Roundup: Dollar rallies as economies emerge from coronavirus lockdowns, Asian shares surge - Monday, May 11th, 2020
Europe Roundup: Euro gains as dollar rally pauses, European shares edged higher, Gold gains, Oil prices up after Saudi pledge on cuts eases some glut fears-May 12th,2020
Americas’ Roundup: Dollar trades in narrow range as four-day euro rally fizzles, Wall Street ends lower, Brent at highest since March on U.S. stock draw, recovering demand-May 22nd 2020
Asia Roundup: Aussie gains as lockdowns ease, greenback halts 3-day rally on dismal U.S. data, Asian shares nudge higher - Monday, May 18th, 2020
Europe Roundup: Euro advances towards two-week high against dollar, European shares inch lower, Gold rises, Oil up on lower U.S. stocks, firmer demand-May 20th,2020
Asia Roundup: Aussie hits 1-week trough as jobs plunge, greenback rallies as Powell shuns negative rates, Asian shares slump - Thursday, May 14th, 2020
Asia Roundup: Aussie rallies following RBA minutes, dollar gains against yen on vaccine hopes, Asian shares surge - Tuesday, May 19th, 2020
Asia Roundup: Euro rallies on Franco-German proposal for recovery fund, Asian shares consolidate as vaccine hopes ease, investors eye FOMC minutes - Wednesday, May 20th, 2020
Europe Roundup: Euro takes a breather after four-day rising streak, European shares dips, Gold drops 1%,Oil at highest since March on lower U.S. inventories, recovering demand-May 21st 2020
Asia Roundup: Yen rallies against dollar on second wave virus fears, Asian shares plunge - Tuesday, May 12th, 2020
Europe Roundup: Sterling dips as rising U.S. yields lift dollar, European shares turn lower, Gold gains, Oil prices drop amid supply glut, fears of second coronavirus wave-May 11th,2020
Asia Roundup: Aussie set for first weekly loss in six weeks, greenback gains on stimulus optimism, Asian shares subdued - Friday, May 15th, 2020
Europe Roundup: Euro gains against dollar ahead of Federal Reserve Chairman Jerome Powell’s speech, European shares slide, Gold steady, Oil holds near $30, caught between demand loss and supply cuts-May 13th,2020
Europe Roundup: Sterling stuck near 8-week lows on talk of negative rates, Brexit, European shares gain, Gold jumps by 1%,Oil rises as lockdowns ease-May 18th,2020
America’s Roundup: U.S. dollar slides ahead of Fed's Powell speech, Wall Street dips, Gold gains, Oil rises as OPEC looks to deepen, extend supply cuts-May 13th,2020
Europe Roundup: Sterling at 1-week peak, Swiss franc, yen rally as greenback slumps on dovish Fed; European shares at 6-week high - Thursday, June 20th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index slumped as the Federal Reserve joined its global peers such as the European Central Bank and the Reserve Bank of Australia this week in signaling that more policy stimulus is required to boost growth. The greenback against a basket of currencies traded 0.6 percent down at 96.66, having touched a low of 96.64 earlier, its lowest since June 12. FxWirePro's Hourly Dollar Strength Index stood at -148.99 (Highly Bearish) by 1000 GMT.
EUR/USD: The euro rallied to a 1-week peak above the 1.1300 handle after officials said the European Commission was unlikely to recommend further steps next week in disciplinary procedures over Italy's rising debt. The European currency traded 0.7 percent up at 1.1302, having touched a high of 1.1306 earlier, its highest since June 12. FxWirePro's Hourly Euro Strength Index stood at 35.49 (Neutral) by 1000 GMT. Immediate resistance is located at 1.1316 (78.6% retracement of 1.1347 and 1.1202), a break above targets 1.1347 (June 7 High). On the downside, support is seen at 1.1172 (May 24 Low), a break below could drag it below 1.1141 (May 21 Low).
USD/JPY: The dollar plunged to a 5-1/2 month low after the U.S. Federal Reserve signalled it was ready to cut interest rates as early as next month. The pair was trading 0.3 percent down at 107.80, having hit a low of 107.46 earlier, its lowest since Jan. 3. FxWirePro's Hourly Yen Strength Index stood at -115.95 (Highly Bearish) by 1000 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. current account, unemployment claims and Philadelphia Fed manufacturing survey. Immediate resistance is located at 108.56 (June 6 High), a break above targets 109.08 (Jan. 8 High). On the downside, support is seen at 107.18 (June 3 Low), a break below could take it lower at 106.88.
GBP/USD: Sterling rallied above the 1.2700 handle to hit a 1-week high, as the greenback tumbled after the Federal Reserve signalled possible interest rate cuts as early as next month to combat growing global and domestic risks. The major traded 0.6 percent up at 1.2720, having hit a high of 1.2726 earlier it’s highest since Jun. 12. FxWirePro's Hourly Sterling Strength Index stood at -4.06 (Neutral) 1000 GMT. Immediate resistance is located at 1.2763 (June 7 High), a break above could take it near 1.2813 (May 21 High). On the downside, support is seen at 1.2580 (Jun. 14 Low), a break below targets 1.2506. Against the euro, the pound was trading 0.05 percent at 88.84 pence, having hit a high of 88.72 earlier, it’s highest since Jun. 7.
USD/CHF: The Swiss franc surged to a 1-week peak as risk-sentiment weakened amid persisting global geopolitical tensions and major global central bank easing concerns. The major trades 0.8 percent down at 0.9864, having touched a low of 0.9858 earlier; it’s lowest since June 5. FxWirePro's Hourly Swiss Franc Strength Index stood at -10.37 (Neutral) by 1000 GMT. On the higher side, near-term resistance is around 0.9920 (June 10 High) and any break above will take the pair to next level till 0.9963 (June 6 High). The near-term support is around 0.9813 (Jan. 11 Low), and any close below that level will drag it till 0.9788 (Jan 8 Low).
European shares rallied to a 6-week peak on signs that Brussels will hold off on disciplinary action over Italy's budget.
The pan-European STOXX 600 index surged 0.7 percent at 387.48 points, while the FTSEurofirst 300 rallied 0.7 percent to 1,525.50 points.
Britain's FTSE 100 trades 0.4 percent up at 7,432.48 points, while mid-cap FTSE 250 gained 0.9 to 19,408.16 points.
Germany's DAX rose 1.01 percent at 12,433.12 points; France's CAC 40 trades 0.8 percent higher at 5,561.14 points.
Crude oil prices surged more than 3 percent to hit a 3-week peak after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington. International benchmark Brent crude was trading 1.8 percent higher at $63.35 per barrel by 1013 GMT, having hit a high of $63.86 earlier, its highest since June 11. U.S. West Texas Intermediate was trading 2.8 percent up at $55.61 a barrel, after rising as high as $55.84 earlier, its highest since the May 31.
Gold prices rose to their highest level in more than five years as the greenback plunged after the U.S. Federal Reserve signalled possible interest rate cuts later this year. Spot gold was trading 1.6 percent up at $1,381.95 per ounce by 1017 GMT, having touched a high of $1,393.85, its highest since Sept. 2013. U.S. gold futures jumped 2.8 percent to $1,386.30 an ounce, after touching their highest since April 2018 at $1,397.70.
The U.S. Treasury yields plunged during the afternoon session after the Federal Reserve kept interest rates unchanged at its monetary policy meeting held late yesterday, while striking a dovish tone, indicating further rate cuts this year. The yield on the benchmark 10-year Treasury yield slipped 1 basis point to 2.016 percent, the super-long 30-year bond yields edged 1/2 basis point lower to 2.534 percent while the yield on the short-term 2-year slumped 4-1/2 basis points to 1.722 percent.
The German bunds jumped during European trading session ahead of the euro area’s preliminary consumer confidence index for the month of June, scheduled to be released today by 14:00GMT. The German 10-year bond yields, which move inversely to its price, slumped nearly 2-1/2 basis points to -0.309 percent, the yield on 30-year note plunged nearly 4 basis points to 0.267 percent and the yield on short-term 2-year traded nearly 2-1/2 basis points lower at -0.735 percent.
The Australian 10-year government bond yield hit an all-time low during Asian session, tracking a breach of key psychological level in the United States counterpart, which fell below the 2 percent level for the first time since November 2016 The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged 5-1/2 basis points to 1.293 percent, the yield on the long-term 30-year bond also plummeted 5-1/2 basis points to 1.964 percent and the yield on short-term 2-year also slumped 5-1/2 basis points to 0.934 percent.