Americas Roundup: Dollar firmer as trade tensions support,Gold slips, Wall Street dips, Oil jumps over 2% after U.S. inventory data, Russia OPEC comments-November 21st,2019
Europe Roundup: Sterling tumbles to 1-week low on downbeat business PMI, euro slumps as German business conditions deteriorate, European shares surge - Friday, November 22nd, 2019
Asia Roundup: Antipodeans steady on U.S.-China trade deal hopes, investors await global manufacturing surveys, Asian shares off 3-week low - Friday, November 22nd, 2019
Asia Roundup: Aussie rebounds as business conditions improve, gold consolidates ahead of U.S. President Trump speech, Asian shares plunge - Tuesday, November 12th, 2019
America’s Roundup: Dollar buoyed by U.S.-China tariffs pledge, Wall Street little changed, Oil falls amid doubts over US-China trade deal-November 9th,2019
Asia Roundup: Aussie eases on RBA policy meeting minutes, dollar tumbles amid doubts over the U.S.-China trade deal, Asian shares subdued - Tuesday, November 19th, 2019
Europe Roundup: Sterling consolidates below 1.2900 amid persisting concerns over economic outlook, euro gains on better-than-expected EZ trade surplus, European shares plunge - Friday, November 15th, 2019
America’s Roundup: Dollar steady as case for Fed's pause solidifies, Wall Street slips, Gold gains, Oil falls as U.S.-China trade deal prospects dim-November 14th,2019
Europe Roundup: Sterling steadies as UK economy grows at slowest annual rate, euro holds near 4-week trough amid political turmoil, European shares tumble - Monday, November 11th, 2019
America's Roundup: Dollar buoyed by caution as trade deal optimism wanes, Wall Street gains, Gold slips, Oil prices gain 2% despite concerns about rising supplies-November 16th,2019
Europe Roundup: Sterling steadies above 1.2900 on hopes of Conservative majority, euro halts 4-day rally on Italy's warning over EZ bailout fund reform, investors eye Fed minutes - Wednesday, November 20th, 2019
Asia Roundup: Kiwi at 1-week peak as RBNZ stands pat, greenback consolidates ahead of Fed Chair Powells' testimony, Asian shares tumble - Wednesday, November 13th, 2019
Europe Roundup: Sterling eases on downbeat labour data, euro slumps following ECB Coeure's comments, investors eye Trump's trade speech - Tuesday, November 12th, 2019
America's Roundup: Dollar falls on trade deal outlook, Gold rebounds, Oil slips as concerns over U.S.-China trade talks drag on-Nov 220th,2019
Europe Roundup: Sterling gains as no-deal Brexit chances ease, euro steadies near 1-month low as Euro zone industry output rises, European shares off 4-month peak - Wednesday, November 13th, 2019
America’s Roundup: Dollar little changed after Trump speech reveals little on trade, Gold prices dip, Oil prices dip-November 13th,2019
Europe Roundup: Sterling eases amid persisting Brexit fears; euro plunges ahead of ECB policy meet, gold off 6-year peak on profit-taking - Friday, July 19th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index bounced back, halting a 2-day losing streak, following the New York Federal Reserve’s clarification that President Williams’ comments were academic and not about immediate policy direction. Investors now await the U.S. Michigan Consumer Sentiment Index for the next direction on the pair. The greenback against a basket of currencies traded 0.3 percent up at 97.03, having touched a low of 96.67 on Thursday, its lowest since June 4.
EUR/USD: The euro plunged, giving away most of its previous session gains as traders wait for next week's European Central Bank meeting. Moreover, Bloomberg's report stating that ECB staff members are studying a potential change to the bank's inflation goal of near 2 percent further dented the bid tone around the major. The European currency traded 0.4 percent down at 1.1236, having touched a low of 1.1199 on Wednesday, its lowest since July 9. Immediate resistance is located at 1.1304 (50.0% retracement of 1.1412 and 1.1193), a break above targets 1.1329 (61.8% retracement). On the downside, support is seen at 1.1225 (June 20 Low), a break below could drag it below .1193 (July 9 Low).
USD/JPY: The dollar rebounded from a 3-week low after statements from the New York Fed nullified effects of President John Williams comments favouring 50 basis points Fed rate cut. On Thursday, comments from Williams cemented expectations the Fed would opt to cut interest rates by 25 basis points (bps) at its July 30-31 policy meeting and also fuelled expectations of an even deeper 50 bps reduction. The pair was trading 0.2 percent up at 107.59, having hit a low of 107.21 earlier, its lowest since June 26. Immediate resistance is located at 108.11 (July 15 High), a break above targets 108.53 (July 1 High). On the downside, support is seen at 107.10 (June 26 Low), a break below could take it lower at 106.78 (June 25 Low).
GBP/USD: Sterling declined as traders focused on the growing risks of Britain leaving the European Union without a deal in place by end-October. On Thursday, the pair registered its biggest daily jump in more than two months after the British lawmakers supported proposals to make it harder for the next prime minister to force through a no-deal Brexit by suspending Parliament. The major traded 0.1 percent down at 1.2529, having hit a low of 1.2382 on Wednesday, it’s lowest since Jan. 3. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2591 (July 4 High), a break above could take it near 1.2648 (July 2 High). On the downside, support is seen at 1.2494 (5-DMA), a break below targets 1.2439 (July 9 Low). Against the euro, the pound was trading 0.2 percent up at 89.65 pence, having hit a low of 90.51 on Wednesday, it’s lowest since Jan. 11.
USD/CHF: The Swiss franc eased after rising to a near 3-week peak earlier in the day, as the greenback recovered, having fallen heavily on dovish comments from a key Fed policymaker. The major trades 0.1 percent up at 0.9823, having touched a low of 0.9805 earlier; it’s lowest since July 1. On the higher side, near-term resistance is around 0.9873 (July 3 High) and any break above will take the pair to next level till 0.9932 (July 5 High). The near-term support is around 0.9778 (July 1 Low), and any close below that level will drag it till 0.9738 (June 28 Low).
European shares surged as comments from a Federal Reserve officials cemented the case for a U.S. interest rate cut by the end of July.
The pan-European STOXX 600 index gained 0.1 percent at 387.02 points, while the FTSEurofirst 300 rallied 0.1 percent to 1,522.87 points.
Britain's FTSE 100 trades 0.1 percent up at 7,498.80 points, while mid-cap FTSE 250 gained 0.1 to 19,560.64 points.
Germany's DAX rose 0.3 percent at 12,248.55 points; France's CAC 40 trades 0.05 percent higher at 5,551.25 point.
Crude oil prices rebounded from multi-week lows as tensions in the Middle East increased after a U.S. Navy ship destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows. International benchmark Brent crude was trading 0.7 percent higher at $62.89 per barrel by 1020 GMT, having hit a low of $61.26 on Thursday, its lowest since June 18. U.S. West Texas Intermediate was trading 0.5 percent up at $55.91 a barrel, after falling as low as $54.71 on Thursday, its lowest since the June 20.
Gold prices eased on profit booking after the safe-haven metal surpassed $1,450 an ounce for the first time in more than six years on dovish signals on monetary policy from the U.S. Federal Reserve and fresh tensions in the Middle East. Spot gold declined 0.5 percent to $1,438.61 by 1024 GMT, having touched a high of $1,452.80 earlier, its highest since May 10, 2013, and was on track for a second consecutive weekly gain. U.S. gold futures jumped about 1 percent to $1,440.50 an ounce.
The yield on the U.S. benchmark 10-year Treasury yield recovered 3 basis points to 2.047 percent, the super-long 30-year bond yields jumped 2-3/4 basis points to 2.57 percent and the yield on the short-term 2-year traded 4.8 basis points higher at 1.792 percent.
The yield on the UK benchmark 10-year gilts plunged 2-1/2 basis points to 0.746 percent, the 30-year yield rose suffered nearly 1.8 basis points to 1.378 percent and the yield on the short-term 2-year slumped nearly 2.9 basis points to 0.580 percent.
The German 10-year bond yields, which move inversely to its price, slumped 3.2 basis points to -0.323 percent, the yield on 30-year note has shown a minor recovery of 2 basis points to 0.28 percent and the yield on short-term 2-year traded tad down at -0.770 percent.
The Japanese government bond prices surged, with the 10-year JGB futures rising 0.04 point to 153.59, extending their recovery from a 1-1/2-month low of 153.32 set on Tuesday. The 10-year JGB yield was flat at minus 0.14 percent, while the 20-year JGB yield was flat at 0.225 percent. The two-year JGB yield fell 0.5 basis point to minus 0.205 percent and the five-year JGB yield also fell 0.5 basis point, to minus 0.235 percent.
The Australian government bonds traded range bound during Asian session amid a muted trading session that witnessed data of little economic significance ahead of the Reserve Bank of Australia’s Phillip Lowe and Christopher Kent speeches scheduled next week. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, traded flat at 1.347 percent, the yield on the long-term 30-year bond also remained steady at 1.995 percent and the yield on short-term 2-year rose over 2 basis points to 0.952 percent.