America’s Roundup: Dollar falters as decent U.S. data curbs safe haven demand, Wall Street gains, Gold retreats from near 8-year peak, Oil prices firm on factory, inventory data-July 2nd, 2020
Asia Roundup: Aussie retreats from near 4-week peak on fresh lockdowns, dollar rebounds against yen on upbeat service sector data, Asian shares plunge - Tuesday, July 7th, 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
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
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
Asia Roundup: Aussie eases as virus cases mount, gold steadies near more than 8-year high, Asian shares nudge lower - Wednesday, July 8th, 2020
America’s Roundup: Dollar decline continues as investors parse economic data, earnings, Wall Street advances, Gold firms, Oil slips on surge in COVID-19 infections, U.S.-China tension-July 14th,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
Asia Roundup: Aussie gains on vaccine hopes, greenback at 1-week trough ahead of U.S. payrolls, Asian shares rally - Thursday, July 2nd, 2020
Europe Roundup: Sterling heads for first weekly win against dollar, European stocks dips, Gold holds steady, Oil falls below $43 on virus fears, still heads for weekly gain-July 3rd 2020
Europe Roundup: Euro dips as grim data keeps euro under pressure, European shares edge lower, Gold hovers close eight years high, Oil prices drop on prospect of returning Libyan supplies-June 30th,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
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 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
Europe Roundup: Euro dips lower against dollar as markets balanced hopes for a global economic recovery, European stocks dips,Gold hits 8-year peak.Oil rises on manufacturing data, U.S. inventories-July 1st 2020
Asia Roundup: Aussie near 3-week peak ahead of RBA policy meeting, dollar steadies against yen as investors eye U.S. services sector data, Asian shares at 4-month high - Monday, July 6th, 2020
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
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rallied to a near 1-month high ahead of U.S. Federal Reserve Chairman Jerome Powell's testimony on the economic outlook before the congressional Joint Economic Committee. The greenback against a basket of currencies traded flat at 98.34, having touched a high of 98.45 earlier, its highest since October 15.
EUR/USD: The euro rebounded from a 1-month low after data showed Eurozone industrial production rose in September for a second straight month to beat expectations, as output declines in Germany and Italy were offset by increases in France and the Netherlands. The European currency traded flat at 1.1012, having touched a low of 1.0999 earlier, its lowest since October 15. Immediate resistance is located at 1.1035 (5-DMA), a break above targets 1.1062. On the downside, support is seen at 1.0985, a break below could drag it below 1.0957.
USD/JPY: The dollar plunged, extending losses for the fourth straight session, as a speech by U.S. President Donald Trump dashed hopes for a positive sign on a U.S.-China trade deal. The major was trading 0.05 percent down at 108.93, having hit a low of 108.85 earlier, its lowest since Nov. 7. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer price index, monthly budget statement and Fed officials' speeches. Immediate resistance is located at 109.62 (May 31 High), a break above targets 109.92 (May 30 High). On the downside, support is seen at 108.75 (21-DMA), a break below could take it near at 108.49.
GBP/USD: Sterling nudged higher after a Reuters poll showed the chances of a no-deal Brexit easing in the last month because UK Prime Minister Boris Johnson looks set to win a December 12 election and secure the backing in parliament he needs to get his new Withdrawal Agreement passed. The major traded 0.1 percent up at 1.2854, having hit a high of 1.2897 on Monday, it’s highest since November 5. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2917, a break above could take it near 1.2972 (November 1 High). On the downside, support is seen at 1.2794, a break below targets 1.2768. Against the euro, the pound was trading flat at 85.66 pence, having hit a high of 85.57 on Monday, it’s highest since May 8.
USD/CHF: The Swiss franc rose to 1-week peak after U.S. President Donald Trump said that the two countries were close to finalising a trade deal, but he fell short of providing a date or venue for the signing ceremony. The major trades at 0.3 percent up at 0.9903, having touched a high of 0.9978 on Friday, it’s highest since October 16. On the higher side, near-term resistance is around 0.9983 and any break above will take the pair to the next level till 1.0007. The near-term support is around 0.9887, and any close below that level will drag it till 0.9850.
European shares plunged from 4-year highs after U.S. President Donald Trump threatened to substantially increase tariffs if China failed to agree a trade deal.
The pan-European STOXX 600 index tumbled 0.6 percent at 404.36 points, while the FTSEurofirst 300 slumped 0.5 percent to 1,586.52 points.
Britain's FTSE 100 trades 0.6 percent down at 7,323.65 points, while mid-cap FTSE 250 declined 0.9 to 20,240.16 points.
Germany's DAX eased 0.8 percent at 13,175.66 points; France's CAC 40 trades 0.5 percent lower at 5,889.61 points.
Crude oil prices declined as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand. International benchmark Brent crude was trading 1.1 percent down at $61.29 per barrel by 1050 GMT, having hit a low of $60.65 on Friday, its lowest since November 1. U.S. West Texas Intermediate was trading 0.8 percent lower at $56.29 a barrel, after falling as low as $55.74 on Friday, its lowest since November 1.
Gold prices surged after a speech by U.S. President Donald Trump dashed hopes for a positive sign on a U.S.-China trade deal. Spot gold rose 0.5 percent to $1,463.86 per ounce by 0628 GMT, having touched a low of $1,445.51 on Tuesday, its lowest August 5. U.S. gold futures advanced 0.7 percent to $1,463.30 per ounce.
The U.S. Treasuries surged during the afternoon session ahead of the country’s consumer price inflation (CPI) for the month of October, scheduled to be released today by 13:30GMT. In addition, Federal Reserve Chair Jerome Powell is due to deliver a keynote speech, also today by 16:00GMT, besides, a speech by FOMC member Kashkari, due at 18:30GMT, which shall provide further direction into the debt market. The yield on the benchmark 10-year Treasury yield slumped 3 basis points to 1.877 percent, the super-long 30-year bond yield also suffered 3 basis points to 2.355 percent and the yield on the short-term 2-year traded nearly 2 basis points lower at 1.632 percent.
The United Kingdom’s gilts jumped during European trading hours after the country’s consumer price inflation (CPI) for the month of October, came in lower than market expectations, while investors keep a close eye on Britain’s retail sales for the similar period, scheduled to be released on November 14 by 09:30GMT, for further direction in the labour market. The yield on the benchmark 10-year gilts, plunged 5 basis points to 0.756 percent, the 30-year yield also slumped nearly 5 basis points to 1.267 percent and the yield on the short-term 2-year traded 3-1/2 1 basis points down at 0.526 percent.
The German bunds jumped during European trading session after the country’s consumer price inflation (CPI) for the month of October remained steady, with eyes still on Germany’s gross domestic product (GDP) for the third quarter of this year, scheduled to be released on November 14 by 07:00GMT, will provide further insight into the debt market. The German 10-year bond yield, which move inversely to its price, slumped nearly 4 basis points to -0.282 percent, the yield on 30-year note plunged 5 basis points to 0.208 percent and the yield on short-term 2-year slipped 1-1/2 basis points to -0.639 percent.
The Australian government bonds remained flat during Asian session amid a muted trading day that witnessed data of little economic significance. However, U.S.-China trade tussle continues to draw headlines in the financial market ahead of Australia’s employment report for the month of October, scheduled to be released on November 14 by 00:30GMT. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, remained steady at 1.276 percent, the yield on the long-term 30-year bond also flat at 1.881 percent and the yield on short-term 2-year hovered around 0.861 percent.