Asia Roundup: Aussie eases on worsening U.S.-China tensions, dollar rallies against yen as risk sentiment slightly improves on potential Japanese stimulus, Asian shares consolidate - Monday, May 25th, 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 edges lower as Britain maintains fierce stance on Brexit, European stocks gain, Gold hits 3-week peak, Oil hits one-month high as signs of demand emerge amid coronavirus crisis-May 15th,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: Aussie set for first weekly loss in six weeks, greenback gains on stimulus optimism, Asian shares subdued - Friday, May 15th, 2020
America’s Roundup: Dollar rises against yen as nervous investors seek safety, Wall street ends mixed ,Gold dips, Oil surges more than 13% on hopes of output deal-May 12th,2020
America’s Roundup: Dollar struggles as rising oil prices lift commodity currencies, Wall Street jumps, Gold eases off highs, Oil jumps to two-month high on easing lockdowns, positive vaccine results-May 19th 2020
America’s Roundup: Dollar weak as euro rises on Franco-German proposal for recovery fund ,Wall Street dips, Gold edges higher ,Oil dips as U.S. Senate grills Fed chair, Treasury secretary –May 20th,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
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
Europe Roundup: Euro as German survey fuels optimism, European shares rise, Gold dips, Oil falls as U.S.-China tensions take toll-May 25th,2020
America’s Roundup: Dollar climbs to 3-week peak, Wall Street drops, Gold jumps to 3-week high, Oil prices rise on dip in U.S. crude stockpiles and IEA data-May 15th,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: 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
America’s Roundup: Dollar notches small weekly gain after weak U.S. data, Wall Street gains, Gold hits 7-year high, Oil prices jump as demand shows signs of picking up-May 16th,2020
America’s Roundup: Dollar climbs as U.S.-China tensions lift greenback, Wall Street ends mixed, Gold firms, Oil drops 4% on China-U.S. tensions, energy demand doubts-May 23rd 2020
Europe Roundup: Sterling at 1-week trough amid no-Brexit deal fears, gold at 14-month peak as Chinese data rekindles global economic growth concerns, investors’ eye U.S. retail sales - Friday, June 14th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rallied as investors expect U.S. retail sales growth to reach 0.6 percent in May, as compared with 0.1 percent decline in April. The greenback against a basket of currencies traded 0.1 percent up at 97.09, having touched a high of 97.14, its highest since June 7. FxWirePro's Hourly Dollar Strength Index stood at 118.35 (Highly Bullish) by 1000 GMT.
EUR/USD: The euro plunged to a 1-week low, as geopolitical tension intensified in the bloc after French Finance Minister Bruno Le Maire stated that Italy should clarify in the next few days how it intends to avert a European Union disciplinary action over its rising debt. The European currency traded 0.1 percent down at 1.1269, having touched a low of 1.1260 earlier, its lowest since June 7. FxWirePro's Hourly Euro Strength Index stood at -11.12 (Neutral) by 1000 GMT. Immediate resistance is located at 1.1309 (June 6 High), a break above targets 1.1359 (Mar. 18 High). On the downside, support is seen at 1.1235 (April 22 Low), a break below could drag it below 1.1201 (May 14 Low).
USD/JPY: The dollar slumped to a 1-week trough as Chinese data rekindled worries about the health of the global economy, while fears of a new U.S.-Iran confrontation intensified. Moreover, the U.S.- China trade dispute and reports that India is preparing to impose higher tariffs on some U.S. goods boosted the bid tone around the safe-haven Japanese yen. The pair was trading 0.2 percent down at 108.20, having hit a low of 108.15, its lowest since June 7. FxWirePro's Hourly Yen Strength Index stood at 94.87 (Slightly Bullish) by 1000 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, capacity utilization, industrial production and business inventories. Immediate resistance is located at 108.87 (50.0% retracement of 109.92 and 107.81), a break above targets 109.47 (78.6% retracement). On the downside, support is seen at 107.88 (June 3 Low), a break below could take it lower at 107.51 (Jan. 4 Low).
GBP/USD: Sterling tumbled to an 11-day low after Brexiteer Boris Johnson moved closer to becoming the next prime minister of Britain. Investors are concerned that May's successor will lead Britain towards a no-deal Brexit and with little time in hand how will the successor try and renegotiate May's withdrawal agreement with Brussels. The major traded 0.1 down at 1.2653, having hit a low of 1.2633 earlier; it’s lowest since June 3. FxWirePro's Hourly Sterling Strength Index stood at 26.78 (Neutral) 1000 GMT. Immediate resistance is located at 1.2742 (June 6 High), a break above could take it near 1.2798 (May 17 High). On the downside, support is seen at 1.2610 (June 3 Low), a break below targets 1.2580 (May 30 Low). Against the euro, the pound was trading 0.1 percent down at 89.03 pence, having hit a low of 89.32 on Tuesday, it’s lowest since Jan. 15.
USD/CHF: The Swiss franc declined to an over 1-week low, as the greenback surged on expectations that stronger U.S. retail sales might undermine some of the bets on U.S. rate cuts in the coming weeks. The major trades 0.2 percent up at 0.9955, having touched a high of 0.9967 earlier; it’s highest since June 3. FxWirePro's Hourly Swiss Franc Strength Index stood at -60.95 (Bearish) by 1000 GMT. On the higher side, near-term resistance is around 0.9987 (April 3 High) and any break above will take the pair to next level till 1.0121 (May 17 High). The near-term support is around 0.9879 (June 6 Low), and any close below that level will drag it till 0.9820 (Dec. 20 Low).
European shares tumbled, weighed down by losses in technology shares, while investors await the U.S. retail sales data for further insights into the state of domestic demand in the economy.
The pan-European STOXX 600 index slumped 0.4 percent at 378.92 points, while the FTSEurofirst 300 plunged 0.5 percent to 1,489.28 points.
Britain's FTSE 100 trades 0.3 percent down at 7,344.18 points, while mid-cap FTSE 250 declined 0.2 to 19,137.09 points.
Germany's DAX fell 0.6 percent at 12,097.14 points; France's CAC 40 trades 0.2 percent lower at 5,364.21 points.
Crude oil prices declined on fears that trade disputes will dent global oil demand, although the downside was limited as the attacks this week on two oil tankers in the Gulf of Oman supported prices. International benchmark Brent crude was trading 0.1 percent lower at $61.20 per barrel by 0938 GMT, having hit a low of $59.55 on Wednesday, its lowest since June 5. U.S. West Texas Intermediate was trading 0.1 percent up at $52.12 a barrel, after falling as low as $50.71 on Wednesday, its lowest since the June 5.
Gold prices rallied by more than 1 percent to hit its highest level since April last year, as a spur of weak economic data from both China and the United States, and political concerns in the Middle East boosted the safe-haven's demand. Spot gold rose 0.8 percent to $1,352.87 per ounce by 0941 GMT, having touched a high of $1,358.06 earlier, its highest level since April 11, 2018. and had risen 1.1 percent so far this week, putting it on track for its fourth consecutive weekly gain. U.S. gold futures jumped 1.2 percent to $1,359.50 an ounce.
The German benchmark 10-year bond yield fell more than 2 basis points to minus 0.267 percent, a record low. Across the single-currency bloc, 10-year bond yields were 2 to 3 bps lower, with French and Dutch long-dated bond yields within sight of recent lows. Spain's 10-year bond yield touched a record low at 0.498 percent.
The Japanese government bond prices broadly rose, with the benchmark 10-year JGB yield and the 20-year yield losing one basis point each, to minus 0.125 percent and 0.245 percent, respectively. The short-dated maturities were a shade stronger, with the two-year yield and the five-year yield off half-a-basis point each, at minus 0.205 percent and minus 0.235 percent, respectively.
The Australian three-year bond contract hit a record high and was last up 1 tick at 99.005. The 10-year contract gained 2.75 ticks to 98.6125, implying a yield of 1.39 percent. The yields on two-year New Zealand paper dropped to an all-time trough of 1.21 percent.