Europe Roundup: Sterling eases as investors eye vote on early election, euro tumbles as EZ growth halves in Q2, markets await U.S. non-farm payroll report - Friday, September 6th, 2019
Asia Roundup: Aussie at 1-month peak on upbeat home loan data, greenback halts 4-day losing streak on Fed Powell's comments, Asian shares surge - Monday, September 9th, 2019
Asia Roundup: Antipodeans surge on trade optimism, euro advances after ECB cuts key rate and approves restarting bond purchases, Asian shares rally - Friday, September 13th, 2019
Asia Roundup: Aussie slumps on dismal China PPI, greenback gains as U.S.-China trade-deal progress boosts risk appetite, investors eye UK labour report - Tuesday, September 10th, 2019
America's Roundup: Dollar gains ahead of ECB meeting, Wall Street gains, Gold climbs, Oil prices slide 2% after report Trump weighed easing Iran sanctions-September 12th,2019
Europe Roundup: Sterling consolidates near 6-week peak, Swiss franc, yen declines as China exempts some U.S. goods from retaliatory tariffs, European shares at multi-week peak - Wednesday, September 11th, 2019
America’s Roundup: Dollar slips ahead of Fed rate decision,Wall Street ends mixed, Gold rises, Oil plummets 6% as Saudi minister says supplies fully restored-September 18th,2019
America’s Roundup: Dollar gains as risk sentiment improves, Wall Street ends flat, Gold dips to 2-week low, Oil gets boost as new Saudi minister commits to output cuts-September 10th,2019
Asia Roundup: Antipodeans ease as China's slowdown deepens, dollar off highs against yen as Saudi facility attacks weaken risk sentiment, oil at 4-month peak - Monday, September 16th, 2019
Asia Roundup: Aussie at 6-week peak amid optimism around U.S.-China trade talks, dollar gains against yen as risk appetite improves, Asian shares surge - Wednesday, September 11th, 2019
America's Roundup: Euro gains as bank relief offsets ECB stimulus, Wall Street ends mixed, Gold eases,Oil dips as demand concerns counter U.S.-China trade hopes-September 14th,2019
America’s Roundup: Dollar gains as Fed cuts rates, but easing outlook uncertain, Wall Street sinks, Gold slides 1%,Oil prices extend losses after Saudi pledge to restore lost output-September 19th,2019
America's Roundup: Dollar firms, ECB meeting in focus, Wall Street slips, Gold dips to near one-month low, Oil falls on possibility of Iran exports resuming after Trump fires hardline adviser-September 11th, 2019
Europe Roundup: Sterling rallies above 1.2400 on Brexit deal hopes, gold set for third weekly decline, investors eye U.S. retail sales - Friday, September 13th, 2019
Europe Roundup: Sterling slumps as UK inflation declines, greenback steadies as investors await Fed monetary policy cues, euro eases on soft CPI - Wednesday, September 18th, 2019
Asia Roundup: Antipodeans decline on downbeat Chinese new home prices, greenback gains ahead of Fed policy meeting, Asian shares tumble - Tuesday, September 17th, 2019
Europe Roundup: Sterling at 2-week peak on Brexit deal hopes, greenback rallies as Fed divided on rate cut, European shares plunge - Thursday, August 22nd, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rose, extending previous session gains, as the minutes of the Fed’s July meeting showed splits among policymakers over whether to cut interest rates last month, though there was some unity in wanting to signal it was not on a preset path to looser policy. The greenback against a basket of currencies traded up at 98.30, having touched a high of 98.42 on Tuesday, its highest since August 1.
EUR/USD: The euro plunged to a 3-week low after data showed euro zone’s service industry expanded but factory activity contracted for the seventh month in a row, although at a slower rate than the previous month. The European currency traded 0.1 percent down at 1.1076, having touched a low of 1.1063 earlier, its lowest since August 1. Immediate resistance is located at 1.1104 (23.6% retracement of 1.1230 and 1.1063), a break above targets 1.1128 (38.2% retracement). On the downside, support is seen at 1.1060 (July 31 Low), a break below could drag it below 1.1026 (August 1 Low).
USD/JPY: The dollar eased, reversing most of its previous session gains, ahead of the Fed’s annual Jackson Hole meeting of central bankers, which should provide more clues to the Fed’s stance. The major was trading 0.1 percent down at 106.46, having hit a low of 105.05 last week, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims and Markit prelim PMI's. Immediate resistance is located at 106.94 (21-DMA), a break above targets 107.56 (August 2 High). On the downside, support is seen at 105.89 (August 8 Low), a break below could take it lower at 105.29 (Aug. 9 Low).
GBP/USD: Sterling surged to a 2-week peak as British Prime Minister Boris Johnson will try to convince France to reopen Brexit negotiations less than a day after President Emmanuel Macron ruled out any further talks on the transition deal. The major traded 0.2 percent up at 1.2146, having hit a high of 1.2181 earlier, it’s highest since August 8. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2210 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2331 (61.8% retracement). On the downside, support is seen at 1.2073 (August 16 Low), a break below targets 1.2041 (August 13, Low). Against the euro, the pound was trading 0.2 percent up at 91.21 pence, having hit a high of 90.90 on Friday, it’s highest since July 31.
USD/CHF: The Swiss franc fell to a near 3 week low, as the greenback surged ahead of a speech by U.S. Federal Reserve Chairman Jerome Powell at Jackson Hole. The major trades 0.1 percent up at 0.9838, having touched a high of 0.9839 earlier, it’s highest since August 2. On the higher side, near-term resistance is around 0.9855 (61.8% retracement of 0.9975 and 0.9659) and any break above will take the pair to next level till 0.9980 (78.6% retracement). The near-term support is around 0.9792 (5-DMA), and any close below that level will drag it till 0.9762 (10-DMA).
European shares plunged on signs that U.S. policymakers had not intended to start a cycle of interest rate cuts with last month’s move.
The pan-European STOXX 600 index slumped 0.3 percent at 374.89 points, while the FTSEurofirst 300 plunged 0.3 percent to 1,475.02 points.
Britain's FTSE 100 trades 0.6 percent down at 7,159.05 points, while mid-cap FTSE 250 fell 0.3 to 19,153.92 points.
Germany's DAX declined 0.1 percent at 11,794.15 points; France's CAC 40 trades 0.4 percent lower at 5,416.55 points.
Crude oil prices surged, supported by a drop in U.S. crude inventories and OPEC-led supply cuts, although worries about the global economy limited gains. International benchmark Brent crude was trading 0.4 percent higher at $60.60 per barrel by 1057 GMT, having hit a high of $61.40 on Wednesday, its highest since August 13. U.S. West Texas Intermediate was trading 0.2 percent up at $55.95 a barrel, after rising as high as $57.11 on Wednesday, its highest since August 13.
Gold prices eased as investors locked in profits with focus shifting to a speech by U.S. Federal Reserve Chairman Jerome Powell at Jackson Hole for clarity on the direction of monetary policy. Spot gold was trading 0.4 percent down at $1,496.50 an ounce by 1102 GMT, having touched a low of $1,492.74 on Tuesday, its lowest since August 13. U.S. gold futures dipped 0.5 percent to $1,508 an ounce.
The U.S. Treasuries remained narrowly mixed during the afternoon session ahead of the country’s initial jobless claims and super-long 30-year auction, both scheduled to be released today by 12:30GMT and 17:00GMT respectively. Also, the Jackson Hole Symposium, set to kickstart later today, will provide further direction to the debt market. The yield on the benchmark 10-year Treasury yield hovered around 1.581 percent, the super-long 30-year bond yields surged 1-1/2 basis points to 2.067 percent and the yield on the short-term 2-year slipped nearly 1 basis point to 1.561 percent.
The German bunds suffered during European trading session after the country’s manufacturing PMI for the month of August cheered market investors, edged tad higher from that in July. The German 10-year bond yields, which move inversely to its price, jumped 2 basis points to -0.654 percent, the yield on 30-year note surged 3 basis points to -0.144 percent and the yield on short-term 2-year traded 1 basis point higher at -0.871 percent.
The Japanese government bond yields deteriorated at close of morning session as Asian markets are yet to digest the FOMC July meeting minutes, released overnight amid ongoing global economic disturbances. Wall street edged up, while the U.S. Treasuries suffered, with the 2s10s year yield curve briefly inverting again; hopes still remain high of a trade deal between the U.S. and China. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, slumped 5 basis points to -0.243 percent, the yield on the long-term 30-year hovered around 0.184 percent and the yield on short-term 2-year slipped 1-1/2 basis points to -0.305 percent.
The Australian government bonds gained during Asian session despite a dovish FOMC meeting minutes revealed in the overnight session, while investors are still eyeing a plausible trade deal between the United States and China. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slipped 1-1/2 basis points to 0.917 percent, the yield on the long-term 30-year bond edged tad lower at 1.549 percent while the yield on short-term 2-year too traded 1/2 basis point lower at 0.737 percent.