America’s Roundup: Dollar turns higher as focus turns to surging coronavirus cases, Wall Street jumps, Gold gains, Oil up more than 2% on U.S. jobs data but virus fears cap gains-July 3rd 2020
America’s Roundup: Dollar climbs from four-week low as U.S. stocks decline, Wall Street dips, Gold slips after nine-year high, Oil slips on fears rising COVID-19 cases to clip demand-July 10th,2020
Europe Roundup: Euro dips against dollar as coronavirus anxiety deepens, European stocks gain, Gold set for fifth weekly gain, Oil dips, heading for weekly loss as virus cases rise-July 10th,2020
Asia Roundup: Aussie extends gains on risk-on trades, yen rallies as COVID-19 cases grow, Asian shares surge - Thursday, July 9th, 2020
Asia Roundup: Aussie eases as virus cases mount, gold steadies near more than 8-year high, Asian shares nudge lower - Wednesday, July 8th, 2020
Asia Roundup: Dollar gains as signs of recovery boost risk appetite, Asian shares rally, investors eye EZ CPI - Tuesday, June 30th, 2020
Asia Roundup: Aussie gains on vaccine hopes, greenback at 1-week trough ahead of U.S. payrolls, Asian shares rally - Thursday, July 2nd, 2020
America’s Roundup: Dollar recovers some overnight losses , Wall Street gains,Gold steadies near multi-year peak, Oil rises on improving economic data but virus case jump caps gains-June 30th,2020
Europe Roundup: Euro gains amid caution ahead of EU summit, European stocks gain, Gold firms, Oil dips on surge in COVID-19 infections-July 13th,2020
America’s Roundup: Dollar edges lower amid uncertain U.S. outlook, Wall Street gains,Gold gains, Oil slips slightly on rising coronavirus cases, returning Libyan supplies-1st July 2020
Europe Roundup: Sterling nears three-week highs against dollar,European stocks ease from one-month highs, Gold retreats from multi-year peak, Oil down as U.S. virus spike stokes demand worries-July 7th,2020
America’s Roundup: Dollar little changed against Japanese yen as virus fears counter gains, Wall Street gains, Gold edges higher, Oil steady as hopeful economic data face spike in virus cases-July 7th,2020
America’s Roundup: U.S. dollar regains traction in FX markets, Wall Street drops, Gold retreats from near eight-year peak, Oil steadies as economic data overshadows coronavirus worries-July 8th,2020
Europe Roundup: Euro rises on upbeat Euro zone retail sales data, European shares gain, Gold ticks higher, Oil mixed on tighter supply, surge in U.S. virus cases-July 6th,2020
Europe Roundup: Sterling rises on delayed response to Sunak's economic plan,European shares gain, Gold rises towards nine-year peak , Oil slips as coronavirus fears offset gasoline recovery signs-July 9th,2020
Asia Roundup: Japanese yen gains as China passes national security law, dollar steadies as investors eye U.S. manufacturing PMI, Asian shares nudge higher - Wednesday, July 1st, 2020
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.