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
Asia Roundup: Aussie halts 6-day losing streak on upbeat retail sales, yen eases as U.S.-Iran tension fades, Asian shares surge - Friday, January 10th, 2020
Asia Roundup: Japanese yen rebounds as U.S. says China tariffs in place till Phase 2 deal, greenback consolidates following mixed CPI figures, Asian shares plunge - Wednesday, January 15th, 2020
Asia Roundup: Antipodeans steady, Japanese yen near 2-week low after Trump signals no further action against Iran, Asian shares rally - Thursday, January 9th, 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
Asia Roundup: Japanese yen at 7-1/2 month low as risk sentiment improves; Aussie consolidates despite upbeat Chinese data, Asian shares surge - Friday, January 17th, 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
Europe Roundup: Sterling falls after downbeat UK inflation data ,European shares flat,Gold gains, Oil drops on concerns that U.S.-China trade deal may not stoke demand-January 15th,2020
America’s Roundup: Dollar gains as U.S.-Iran fears ease ,Wall Street ends lower, Gold edges up, Oil falls 1% as investors reassess Middle East risks-January 8th,2020
Europe Roundup: Sterling consolidates on rate cut concerns, Swiss franc at 2-week low as Mideast tensions fade, investors eye U.S. nonfarm payroll report - Friday, January 10th, 2020
Asia Roundup: Antipodeans consolidate near recent lows, yen at 3-month peak as U.S., Iran exchange threats, Asian shares slump - Monday, January 6th, 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
Europe Roundup: Swiss franc rallies amid US, Iran tension, euro rebounds as EZ investor morale improves, European shares slump - Monday, January 6th, 2020
Europe Roundup: Sterling at 2-week trough on BoE Carney's comments; Swiss franc, yen ease as U.S.-Iran fears abate, European shares at record high - Thursday, January 9th, 2020
Asia Roundup: Dollar gains against yen on U.S.-China trade deal optimism, oil rallies as U.S. crude inventories decline more than expected; investors eye German CPI - Thursday, January 16th, 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
Europe Roundup: Sterling poised for best week since mid-October, euro off highs as German industry output declines, investors eye U.S. nonfarm payroll - Friday, December 6th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rebounded from a 1-month low as investors awaited the U.S. jobs report that could offer further insight on the state of the economy. The greenback against a basket of currencies traded 0.5 percent up at 97.44, having touched a low of 97.36 earlier, its lowest since November 4.
EUR/USD: The euro declined after data showed German industrial output fell unexpectedly in October due to a sharp fall in production of capital goods, indicating persistent weakness in the economy. The European currency traded 0.1 percent down at 1.1094, having touched a high of 1.1116 on Wednesday, its highest since November 7. Immediate resistance is located at 1.1123, a break above targets 1.1140. On the downside, support is seen at 1.1071 (5-DMA), a break below could drag it below 1.1042 (21-DMA).
USD/JPY: The dollar plunged, extending previous session losses, weighed down by nervousness around U.S.-China trade relations and hints of weakness in the U.S. economy. The major was trading 0.2 percent down at 108.58, having hit a low of 108.42 on Wednesday, its lowest since Nov 21. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. nonfarm payroll, unemployment rate, wholesale inventories, Michigan consumer sentiment index and consumer credit change. Immediate resistance is located at 109.03 (10-DMA), a break above targets 109.29. On the downside, support is seen at 108.51, a break below could take it near at 108.34.
GBP/USD: Sterling eased from a 7-month peak but was set for best week since mid-October on signs that next week’s election will yield a Conservative Party win. The major traded 0.2 percent down at 1.3133, having hit a high of 1.3166 on Thursday, it’s highest since May 6. Investors’ attention will remain on the development surrounding the general elections, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3176, a break above could take it near 1.3196. On the downside, support is seen at 1.3120 a break below targets 1.3080. Against the euro, the pound was trading 0.1 percent down at 84.47 pence, having hit a high of 84.30 on Thursday, it’s highest since May 2017.
USD/CHF: The Swiss franc tumbled, reversing most of its previous session gains, as risk sentiment revived after China’s announcement to waive import tariffs on some American goods. The major trades 0.2 percent up at 0.9886, having touched a low of 0.9855 on Wednesday, it’s lowest since November 4. On the higher side, near-term resistance is around 0.9914 and any break above will take the pair to the next level till 0.9928 (21-DMA). The near-term support is around 0.9850, and any close below that level will drag it till 0.9836.
European shares surged as comments from U.S. President Donald Trump on trade talks with China boosted investor risk sentiment.
The pan-European STOXX 600 index gained 0.4 percent at 404.20 points, while the FTSEurofirst 300 rallied 0.4 percent to 1,579.07 points.
Britain's FTSE 100 trades 0.7 percent up at 7,185.97 points, while mid-cap FTSE 250 gained 0.4 to 20,796.16 points.
Germany's DAX rose 0.2 percent at 13,081.95 points; France's CAC 40 trades 0.4 percent higher at 5,823.79 points.
Crude oil prices steadied and were set for weekly gains ahead of a meeting of OPEC and its allies later in the day which is expected to formally agree to more output cuts in early 2020. International benchmark Brent crude was trading 0.3 percent up at $63.43 per barrel by 1051 GMT, having hit a low of $60.29 on Tuesday, its lowest since November 20. U.S. West Texas Intermediate was trading 0.1 percent up at $58.37 a barrel, after rising as high as $59.10 on Thursday, its highest since September 23.
Gold prices eased as investor risk appetite improved after China’s announcement to waive import tariffs on some American goods. Spot gold was trading 0.5 percent down at $1,475.18 an ounce at 1057 GMT, having touched a high of $1483.97 on Wednesday, its highest since Nov. 7. U.S. gold futures fell 0.3 percent to $1,478.00.
The Euro zone government bond yields were little changed, but set for their biggest weekly rise in a month. Germany’s 10-year Bund yield was flat at -0.29 percent, and is up 6 basis points this week and set for its biggest weekly jump in a month. Italian bond yields are also set for their biggest weekly rises in a month.
The Japanese government bond futures fell toward an 8-month low, with the benchmark 10-year JGB futures falling 0.30 point to 152.5. The 10-year JGB yield rose 2 basis points to minus 0.025 percent. The 20-year JGB yield rose 2.5 basis points to 0.290 pecent. The 30-year JGB yield rose 2 basis points to 0.435 percent. The 40-year JGB yield rose 1.5 basis points to 0.455 percent. The five-year yield rose 2.5 basis points to minus 0.130 percent. At the short end of the curve, the two-year JGB yield rose 1.5 basis points to minus 0.140 percent.
The New Zealand 10-year bond yields were up a steep 18 basis points on the week, against 10 basis points for Aussie paper. The Aussie bond currently yields 37 basis points less than the Kiwi, compared to 11 basis points early this month. The Australian three-year bond futures were off 1.5 ticks on Friday at 99.300, a drop of 5 ticks for the week.
Tesla Cybertruck update: Is Elon Musk's futuristic pickup truck joining the 'Cyberpunk 2077' vehicle lineup?