Europe Roundup: Euro holds above $1.20 against dollar, Europe shares ease, Gold gains, Oil hits $68 on Libya force majeure despite pandemic surge-April 20th,2021
Europe Roundup: Euro little changed against dollar as investors awaited Fed’s policy meeting on Wednesday, European stocks dips, Gold steady, Oil rises to $66 ahead of OPEC+ meeting-April 27th,2021
America’s Roundup: U.S. dollar perks up after ECB policy talk cools euro,U.S. stocks ends down, Gold slips 1%,Oil steady as Libya output decline offsets risks to Asian demand-April 23rd,2021
America’s Roundup: Dollar climbs as risk appetite fades, Gold falls from 2-mth high, Oil rises on U.S. and European demand growth optimism-May 5th,2021
Europe Roundup: Euro dips a focus turns to ECB policy meeting on Thursday, European shares rebound, Gold retreats, Oil dips as rising COVID-19 in India dents demand outlook-April 21st,2021
America’s Roundup: Dollar recovers from a nine-week low ,Gold hits two-week low,Wall Street gains,Oil climbs to fresh 6-week high on bullish demand-30th April,2021
Europe Roundup: Sterling dips against dollar as markets wait for global cues, European shares extend gains, Gold hovers near eight-week high, Oil extends losses on U.S. stock build, pandemic concerns-April 22nd 2021
America’s Roundup: U.S. dollar gives up earlier gains, Wall Street ends higher, Gold gains, Oil prices drop as India’s COVID-19 surge dents demand outlook-April 22nd,2021
America’s Roundup: Dollar edges higher from recent lows, Wall Street slides, Gold gains, Oil drops on demand fears as Covid-19 infections floods in India-April 21st ,2021
America’s Roundup: Greenback hits 4-week low on retreating US Treasury yields, Wall Street ends higher, Gold gains, Oil dips but posts weekly gain on recovery hopes-April 17th,2021
America’s Roundup: Dollar eases off of two-week high ahead of jobs report as mega cap , Wall Street rises , Gold firms, Oil ends little changed, U.S. oil inventories fall-May 6th,2021
America’s Roundup: Dollar retreats as U.S. data disappoints, Wall Street gains,Gold rises over 1%, Oil rises over 1% as demand hopes bolster sentiment-May 4th 2021
Europe Roundup: Euro breaks to nine-week peak, European shares edge higher,Gold retreats , Oil prices rise, bullish demand outlook offsets India concerns-April 29th,2021
Europe Roundup: Euro dips as dollar strengthens ahead of Fed meeting, European stocks slip, Gold slips to 1-week low, Oil prices steady as rising demand outlook tempered by COVID worries-April 28th,2021
Europe Roundup: Euro gains after upbeat German retail sales data, European shares gain,Gold inches higher, Oil slips towards $66 as India offsets demand hopes elsewhere-May 3rd, 2021
Europe Roundup: Euro holds near 8-week highs against the greenback, European shares inch higher, Gold firms, Oil falls on India's COVID surge, supply increase-April 26th,2021
Europe Roundup: Sterling extends gains as investors speculate PM May's victory, euro hits 1-1/2 week low on weak economic data, European shares decline - Tuesday, May 30th, 2017
Economic Data Ahead
Key Events Ahead
DXY: The dollar eased versus the Japanese yen as a new round of political worries over Greece, Italy and Britain strengthened safe-haven assets. The greenback against a basket of currencies traded 0.2 percent down at 97.43, drifting towards a low of 96.80 hit last week, it’s lowest since Nov. 9. FxWirePro's Hourly Dollar Strength Index stood at 36.57 (Neutral) by 0500 GMT.
EUR/USD: The euro declined to a 1-1/2 week low earlier in the session after data showed Eurozone's economic sentiment indicator edged down to 109.2 in May, against estimates of 110.0. However, the major trimmed losses after the Greek government spokesman denied reports that Greece is considering rejecting the debt relief tranche offered by its creditors. The European currency traded 0.1 percent down at 1.1152, having touched a low of 1.1109 earlier, its lowest since May 19. FxWirePro's Hourly Euro Strength Index stood at -162.79 (Highly Bearish) by 1100 GMT. The pair is struggling to break above 1.12678 and any violation above will take it to next level till 1.1300 Nov high/1.13660. On the lower side, any break below 1.1100 (23.6% retracement of 1.105694 and 1.12678) will drag the pair down till 1.1050/1.1000.
USD/JPY: The dollar slumped to a near 2-week low against the Japanese yen, as a weaker opening in the European equity markets underpinned the traditional safe-haven assets. Moreover, strong labor demand in Japan and retail trade figures supported the bid tone around the yen. The major traded 0.2 percent down at 110.96, having touched an early low of 110.77, its lowest since May 18. FxWirePro's Hourly Yen Strength Index stood at 139.16 (Highly Bullish) by 1100 GMT. The pair is facing support at 110 and any break below will drag the pair down till 108.13. On the higher side, close above 111.82 (89 EMA) will take it to next level till 113.40/114.36 likely.
GBP/USD: Sterling rose, extending previous session's recovery mode as with investors shrugged off opinion polls showing British Prime Minister Theresa May's lead over the Labour opposition narrowing down, ahead of the general election. Sterling trades 0.2 percent up at 1.2864, retreating from a low of 1.2775 hit on Friday, its weakest since Apr. 25. FxWirePro's Hourly Sterling Strength Index stood at -27.07 (Neutral) by 1100 GMT. On the higher side, minor resistance is around 1.2905 (5- day MA) and any break above will take the pair till 1.2950/1.3000. The major support is around 1.27750 (resistance turned into support) and any break below will drag it down till 1.2705/1.2600. Against the euro, the pound traded 0.3 percent up at 86.68 pence, rebounding from a 2-1/2 month low of 87.50 hit on Friday.
USD/CHF: The Swiss franc recovered after falling to a 1-1/2 week low against the dollar as renewed selling seen in oil and stock prices, triggered a fresh bout of risk-off sentiment. The major trades flat at 0.9770, having hit a high of 0.9807 earlier, its highest since May 18. FxWirePro's Hourly Swiss Franc Strength Index stood at -112.01 (Highly Bearish) by 1100 GMT. The pair is facing strong support at 0.9690 and any further bearish continuation can be seen only if it closes below that trend line. The near-term major support is around 0.96788 and a break below targets 0.96170. On the higher side, near term resistance is around 0.9847 and any break above will take it till 0.9900/0.9956 (89- EMA).
AUD/USD: The Australian dollar retreated after falling to an early 11-day low as data released overnight showed Australian Building Approvals rose sharper-than-expected in April. The Aussie trades 0.2 percent up at 0.7451, having hit a low of 0.7416 earlier, it’s weakest since May. 19. FxWirePro's Hourly Aussie Strength Index stood at -43.81 (Neutral) by 1100 GMT. On the lower side, near term support is around 0.7385 (61.8% retracement of 0.71599 and 0.77493) and any close below will drag the pair till 0.7325/ 0.7300. The near term resistance is around 0.7520 (89- EMA) and any close above targets 0.7580/ 0.7650.
European shares declined in early deals, as growing concerns over political uncertainty in the Eurozone weighed on banking stocks.
The pan-European STOXX 600 index slumped 0.2 percent to 390.29 points, while the FTSEurofirst 300 index declined 0.2 percent to 1,532.94 points.
Britain's FTSE 100 trades 0.4 percent down at 7,515.94 points, while mid-cap FTSE 250 eased 0.2 percent to 19,979.97 points.
Germany's DAX fell 0.1 percent at 12,617.22 points; France's CAC 40 trades 0.62 percent lower at 5,299.36 points.
Crude oil prices declined, extending prices for the second straight session as concerns that production cuts by the OPEC and other exporters may not be enough to drain a global glut. International benchmark Brent crude was trading 0.8 percent down at $51.80 per barrel by 1030 GMT, having hit a low of $50.70 on Friday, its weakest since May 12. U.S. West Texas Intermediate fell 0.8 percent to $49.55 a barrel, after falling as low as $48.16 on Friday, its lowest since May 18.
Gold edged down after rising to a one-month high earlier in the session on the back of rising geopolitical tensions across the globe. Spot gold eased 0.2 percent to $1,263.74 per ounce by 1036 GMT, after rising to a high of $1,270.35, its strongest since May 1. U.S. gold futures dipped 0.1 percent to $1,266.90 an ounce.
The U.S. Treasuries gained ahead of the Federal Open Market Committee (FOMC) member Brainard’s speech, due to be held later today and Kaplan’s speech, scheduled for May 31. The yield on the benchmark 10-year Treasury, slipped 1 basis point to 2.24 percent, the super-long 30-year bond yields also fell 1 basis point to 2.90 percent and the yield on short-term 2-year note traded tad 1/2 basis point lower at 1.29 percent.
The UK gilts traded slightly lower as investors await the country’s 10-year auction, scheduled to be held on June 1, besides, the manufacturing PMI, due on the same day. The yield on the benchmark 10-year gilts, slumped 3-1/2 basis points to 1.04 percent, the super-long 30-year bond yields plunged 3 basis points to 1.66 percent and the yield on the short-term 2-year traded 2-1/2 basis points lower at 0.08 percent.
The German bunds traded tad higher as investors wait to watch the Eurozone’s consumer price inflation for the month of May, scheduled to be released on May 31. Also, the release of the country’s manufacturing PMI, due on June 1 will provide further direction to the debt market. The yield on the benchmark 10-year bond, rose nearly 1 basis point to 0.30 percent, the long-term 30-year bond yields jumped 1-1/2 basis points to 1.14 percent and the yield on short-term 2-year bond also traded nearly 1-1/2 basis points higher at -0.70 percent.
The New Zealand bonds gained as investors wait to watch the Reserve Bank of New Zealand (RBNZ) Governor Graeme Wheeler’s speech, scheduled to be held on May 31 amid a muted trading session. At the time of closing, the yield on the benchmark 10-year bond, fell 1 basis point to 2.84 percent, the yield on 7-year note also slipped 1 basis point to 2.72 percent and the yield on the short-term 2-year note too ended 1 basis point lower at 1.96 percent.
The Australian bonds rebounded as investors covered previous short positions after a long rally, following a silent trading session that witnessed data of less economic significance. The yield on the benchmark 10-year Treasury note, slumped 2 basis points to 2.40 percent, the yield on 15-year note plunged 2-1/2 basis points to 2.79 percent and the yield on short-term 2-year also traded 2 basis points lower at 1.57 percent.