America’s Roundup: Dollar gains ahead of U.S.-China trade deal, Wall Street dips ,Gold slips, Oil edges up after five days of losses ahead of U.S.-China trade pact-January 15th,2020
America’s Roundup: Dollar firms as Sino-U.S. trade deal day draws near, Wall Street rises, Gold slips as risk-on sentiment weighs, Oil falls 1%-January 14th,2020
America’s Roundup: Dollar holds near two-week high, Gold slides, Oil eases as focus shifts from Iran tensions to U.S. crude build-January 10th,2020
America’s Roundup: Dollar dips after U.S., China sign Phase 1 trade deal, Wall Street pares gains, Gold firms, Oil down slightly after U.S.-China trade deal, U.S. product build-January 16th,2020
Europe Roundup: Sterling reverses gains after weak British retail sales,European shares rise, Gold firms, Oil ends week steady as China growth offsets trade deal optimism-January 17th,2020
America’s Roundup: Dollar gains as markets stabilize after Iran strike, Wall Street gains, Gold eases, Oil dives as U.S., Iran tensions ease-January 9th,2020
Europe Roundup: Sterling falls on mounting rate cut bets ,European shares flat ,Gold dips, Oil extends decline as supply disruption fears recede-January 14th,2020
America’s Roundup: Dollar dips on renewed Middle East tensions, Gold firms, Oil falls below $65/bbl in first weekly drop since November-January 11th,2020
America’s Roundup: Dollar gains on U.S. economic optimism, Wall Street hits new high,Gold edges higher, Oil steadies as Chinese economy offsets trade optimism-January 18th,2020
Europe Roundup: Sterling recovers as traders wait for data cues on BoE rate cut, European shares edge higher, Gold inches down, Oil rises after U.S.-China deal, IEA forecast limits gains-January 16th, 2020
Asia Roundup: Japanese yen off highs as U.S.-Iran tensions ease, Asian shares rebound; investors await Iran's response – Tuesday, January 7th, 2020
Asia Roundup: Aussie rallies on U.S.-China trade deal optimism, Asia shares at 19-month highs, investors eye UK economic data - Monday, January 13th, 2020
Asia Roundup: Antipodeans at multi-week lows, Japanese yen at 3-month peak after Iran strike on U.S. forces, Asian shares plunge - Wednesday, January 8th, 2020
Europe Roundup: Sterling eases amid no deal Brexit fears, Swiss franc declines as U.S.-Iran tensions ebb, European shares rebound - Tuesday, January 7th, 2020
America’s Roundup: Dollar gains on positive U.S. economic data,Wall Street ends higher, Gold slips, Oil gains on U.S.-China deal-January 17th,2020
America’s Roundup: Dollar dips on U.S.-Iran tensions, Wall Street dips, Gold prices surge 2%,Oil price gains turn up the heat on emerging market oil importers-January 7th,2020
Europe Roundup: Sterling plunges on hard Brexit fears, euro rebounds on upbeat EZ inflation figures, European shares surge - Wednesday, July 17th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index steadied near a 1-week peak as surprisingly strong growth in U.S. retail sales in June soothed fears about the economy and trimmed expectations the Federal Reserve may embark on a deep interest rate cut later this month. The greenback against a basket of currencies traded 0.05 percent up at 97.35, having touched a low of 96.72 on Friday, its lowest since June 5.
EUR/USD: The euro rebounded from a 1-week low after data showed consumer prices in the eurozone increased by slightly more than initially projected in June. The bloc's prices were 1.3 percent higher year-on-year in June, compared with a flash estimate of 1.2 percent. The European currency traded 0.1 percent up at 1.1217, having touched a low of 1.1201 on Tuesday, its lowest since July 9. Immediate resistance is located at 1.1246 (23.6% retracement of 1.1412 and 1.1193), a break above targets 1.1278 (38.2% retracement). On the downside, support is seen at 1.1193 (July 9 Low), a break below could drag it below 1.1160 (June 3 Low).
USD/JPY: The dollar consolidated within narrow ranges as investors waited for direction on interest rates from the Federal Reserve after robust U.S. retail sales data trimmed expectations of an aggressive interest rate cut by the Fed. The pair was trading flat at 108.23, having hit a low of 107.79 on Monday, its lowest since July 5. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. housing starts and building permits. Immediate resistance is located at 108.53 (July 1 High), a break above targets 108.80 (July 8 High). On the downside, support is seen at 107.53 (July 3 Low), a break below could take it lower at 107.10 (June 26 Low).
GBP/USD: Sterling plunges to a fresh 6-1/2 month low as investors continued to price in the growing risk of Britain leaving the European Union without a transition arrangement in place. Moreover, data showing UK house prices eased at the fastest rate in almost 10 years in May further intensified the selling pressure around the British pound. The major traded flat at 1.2405, having hit a low of 1.2382 earlier, 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 1.2439 (23.6% retracement of 1.2578 and 1.2396), a break above could take it near 1.2466 (32.8% retracement). On the downside, support is seen at 1.2373 (Jan. 3 Low), a break below targets 1.2334. Against the euro, the pound was trading 0.1 percent down at 90.43 pence, having hit a low of 90.51 earlier, it’s lowest since Jan. 11.
USD/CHF: The Swiss franc slumped to a 5-day peak as the greenback steadied near a 1-week high on upbeat U.S. retail sales. Moreover, improving risk sentiment further dented the bid tone around the Swiss currency. The major trades 0.2 percent up at 0.9898, having touched a low of 0.9817 on Monday; it’s lowest since July 1. On the higher side, near-term resistance is around 0.9932 (July 5 High) and any break above will take the pair to next level till 0.9963 (June 6 High). The near-term support is around 0.9844 (July 11 Low), and any close below that level will drag it till 0.9791 (June 20 Low).
European shares surged, boosted by upbeat corporate results, while the greenback advanced on the back of stronger than expected U.S. retail sales data.
The pan-European STOXX 600 index gained 0.1 percent at 389.34 points, while the FTSEurofirst 300 rallied 0.1 percent to 1,532.03 points.
Britain's FTSE 100 trades 0.1 percent down at 7,567.83 points, while mid-cap FTSE 250 eased 0.05 to 19,651.33 points.
Germany's DAX rose 0.05 percent at 12,434.24 points; France's CAC 40 trades 0.05 percent higher at 5,615.34 point.
Crude oil prices rose by more than 1 percent after data showed crude inventories fell by 1.4 million barrels in the week to July 12 to 460 million barrels. International benchmark Brent crude was trading 0.3 percent higher at $64.92 per barrel by 1034 GMT, having hit a low of $63.81 on Tuesday, its lowest since July 9. U.S. West Texas Intermediate was trading 0.9 percent up at $57.96 a barrel, after falling as low as $57.06 on Tuesday, its lowest since the July 5.
Gold prices eased to a 1-week low as the greenback held gains near a 1-week peak on the back of better than expected retail sales data from the United States. Spot gold fell 0.3 percent to $1,401.92 per ounce by 1043 GMT, having touched a high of $1,427.06 last week, its highest since July 3. U.S. gold futures for August delivery shed 0.6 percent to $1,403.10.4
The U.S. Treasuries jumped during the afternoon session, amid a quiet session, despite the release of housing starts figures for June, which, are expected to show a further decline towards the end of the second quarter. The yield on the benchmark 10-year Treasury yield plunged 3 basis points to 2.090 percent, the super-long 30-year bond yields slumped 2-1/2 basis points to 2.608 percent and the yield on the short-term 2-year traded 1-1/2 basis points lower at 1.848 percent.
The United Kingdom’s gilts surged during European trading hours after the country’s consumer price inflation (CPI) for the month of June, released today, remained unchanged from that in May, also meeting market estimates. Investors will now eye the country’s retail sales for the month of June, scheduled to be released on July 18 by 14:00GMT. The yield on the benchmark 10-year gilts, plunged 4-1/2 basis points to 0.774 percent, the 30-year yield rose suffered nearly 1-1/2 basis points to 1.395 percent and the yield on the short-term 2-year slumped nearly 4 basis points to 0.549 percent.
The German bunds jumped during European session despite a better-than-expected rise in the eurozone’s consumer price inflation (CPI) for the month of June, released early today. The German 10-year bond yields, which move inversely to its price, slumped 2-1/2 basis points to -0.274 percent, the yield on 30-year note also suffered nearly 2-1/2 basis points to 0.304 percent and the yield on short-term 2-year traded tad down at -0.740 percent.
The Australian government bonds remained narrowly mixed during Asian session amid a muted trading session that witnessed data of little economic significance ahead of the country’s employment report for the month of June, scheduled to be released on July 18 by 07:00GMT. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, traded tad higher at 1.402 percent, the yield on the long-term 30-year bond remained flat at 2.054 percent and the yield on short-term 2-year slipped 1 basis point to 0.950 percent.
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