Europe Roundup: Sterling at 7-month peak as investors speculate on Conservative majority, euro tumbles as German services sector growth weakens, investors eye U.S. service PMI - Wednesday, December 4th, 2019
Europe Roundup: Sterling poised for best week since mid-October, euro off highs as German industry output declines, investors eye U.S. nonfarm payroll - Friday, December 6th, 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
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 firms above 1-month lows on trade tensions, Wall Street bounces, Gold retreats, Oil jumps 4% on U.S. stockpiles drop-December 5th,2019
Europe Roundup: Sterling at 6-week peak as poll show Conservative lead widening, euro tumbles as EZ PPI eases, European shares plunge on trade tariffs - Tuesday, December 3rd, 2019
America’s Roundup: Dollar on defensive after new US-China trade wrinkle, Wall Street falls, Gold jumps over 1%, Oil falls after Trump warns of China trade deal delay-December 4th,2019
Asia Roundup: Aussie off highs as economy struggles to grow, yen at 2-week peak against dollar as trade concerns linger, Asian shares slump - Wednesday, December 4th, 2019
Asia Roundup: Antipodeans surge, dollar rallies against yen on upbeat Chinese factory activity, Asia shares advance - Monday, December 2nd, 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
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: 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
America’s Roundup: Dollar slip as U.S.-China trade deadline looms,Wall Street ends flat, Gold firms, Oil rises but U.S.-China trade war weighs on demand outlook-December 11th,2019
America's Roundup: Dollar jumps vs safe-haven yen on U.S.-China trade deal hopes, Wall Street hits session high, Gold holds steady, Oil rises 1%-December 13th, 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
Europe Roundup: Sterling gains on Conservative Party victory expectations, euro rallies as EZ investor sentiment improve, European shares slump - Tuesday, December 10th, 2019
Europe Roundup: Sterling consolidates near 1-week low ahead of BoE policy meeting outcome, euro rebounds on ECB's EZ growth forecast, gold tumbles as U.S.-China trade deal hopes revive- Thursday, November 7th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index edged lower, pulling away from a 3-week peak hit earlier in the session, as investors awaited U.S. unemployment benefit claims and consumer credit data for further clues on the strength of the economy. The greenback against a basket of currencies traded 0.1 percent down at 97.85, having touched a high of 98.02 earlier, its highest since October 17.
EUR/USD: The euro rebounded from a 3-week low after the European Central Bank in an Economic Bulletin stated that the eurozone economy will continue to grow in the second half of the year, even if only modestly, boosted by private consumption and a small growth in employment. The European currency traded 0.2 percent up at 1.1082, having touched a low of 1.1054 earlier, its lowest since October 16. Immediate resistance is located at 1.1092 (21-DMA), a break above targets 1.1116 (5-DMA). On the downside, support is seen at 1.1042, a break below could drag it below 1.1012.
USD/JPY: The dollar rose, reversing most of its previous session losses after the Chinese commerce ministry stated China and the United States have both agreed to cancel in phases the tariffs imposed during their prolonged trade war. The major was trading 0.2 percent up at 109.16, 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. unemployment benefit claims, consumer credit and Fed Kaplan's speech. 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 108.44, a break below could take it near at 108.24.
GBP/USD: Sterling consolidated above a 1-week low as investors cautiously awaited Bank of England policy meeting decision later in the day. The BoE is expected to keep its key policy rate unchanged at 0.75 percent and not give an explicit steer on where interest rates are headed. The major traded 0.1 percent up at 1.2869, having hit a low of 1.2837 earlier, it’s lowest since October 29. 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 0.1 percent down at 86.17 pence, having hit a high of 85.85 on Tuesday, it’s highest since October 22.
USD/CHF: The Swiss franc nudged higher, hovering away from a 1-week low hit in the previous session, as Brexit concerns continued to dent investor sentiment. The major trades at 0.1 percent up at 0.9914, having touched a low of 0.9850 on Friday, it’s lowest since October 21. On the higher side, near-term resistance is around 0.9954 and any break above will take the pair to the next level till 0.9970. The near-term support is around 0.9909 (10-DMA), and any close below that level will drag it till 0.9889 (50-DMA).
European shares advanced for the fifth straight session and recorded their highest in four years as investors cheered signs of progress in U.S.-China trade talks.
The pan-European STOXX 600 index gained 0.3 percent at 406.38 points, while the FTSEurofirst 300 rallied 0.2 percent to 1,592.15 points.
Britain's FTSE 100 trades 0.2 percent up at 7,411.71 points, while mid-cap FTSE 250 surged 0.7 to 20,357.37 points.
Germany's DAX rose 0.8 percent at 13,290.25 points; France's CAC 40 trades 0.3 percent higher at 5,884.06 points.
Crude oil prices surged amid new hints from China on progress towards a trade deal with the United States, offsetting downward pressure from a huge increase in U.S. crude stockpiles. International benchmark Brent crude was trading 1.1 percent up at $62.39 per barrel by 1038 GMT, having hit a high of $63.28 on Wednesday, its highest since September 24. U.S. West Texas Intermediate was trading 1.1 percent up at $57.81 a barrel, after rising as high as $57.81 on Wednesday, its highest since September 24.
Gold prices declined after China said that it had agreed with the United States in the past two weeks to a phased cancellation of the additional tariffs imposed during their months-long trade war. Spot gold declined 0.4 percent to $1,484.45 per ounce by 1040 GMT, having touched a low of $1,479.27 on Tuesday, its lowest since Oct. 16. U.S. gold futures were down 0.3 percent at $1,488.3 per ounce.
The U.S. Treasuries plunged during the afternoon session ahead of the country’s weekly initial jobless claims and super-long 30-year auction, both scheduled for today at 13:30GMT and 18:00GMT. Also, Federal Open Market Committee (FOMC) member Kaplan is due to deliver his speech today at 18:05GMT, for further direction into the debt market. The yield on the benchmark 10-year Treasury yield jumped 5 basis points to 1.862 percent, the super-long 30-year bond yield surged 5-1/2 basis points to 2.353 percent and the yield on the short-term 2-year traded nearly 3-1/2 basis points higher at 1.639 percent.
The United Kingdom’s gilts slumped during European trading hours ahead of the Bank of England’s (BoE) monetary policy meeting, scheduled to be held today by 12:00GMT, followed by Governor Mark Carney’s speech later, later today at 12:30GMT. The yield on the benchmark 10-year gilts, jumped 2 basis points to 0.738 percent, the 30-year yield surged 3 basis points to 1.264 percent and the yield on the short-term 2-year edged tad 1 basis point up to 0.551 percent.
The German bunds remained narrowly mixed during European session after the country’s industrial production (IP) for the month of September disappointed market sentiments, while investors still keep a curious eye on the trade balance for the similar period, scheduled to be released on November 8 by 07:00GMT, for further direction in the debt market. The German 10-year bond yield, which move inversely to its price, gained 1 basis point to -0.315 percent, the yield on 30-year note hovered around 0.189 percent and the yield on short-term 2-year traded flat at -0.631 percent.
The Australian government bond yields slumped during Asian session tracking a similar movement in the United States’ counterpart after temporary optimism over the U.S.-China trade deal faded. The latest meeting between President Donald Trump and Chinese leader Xi Jinping to sign a limited trade agreement led to possibilities of a delay until December, owing to uncertainty over the terms and venue. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged 6 basis points to 1.211 percent, the yield on the long-term 30-year bond also slumped 6 basis points to 1.793 percent and the yield on short-term 2-year suffered 4 basis points at 0.869 percent.
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