America’s Roundup: Dollar hits two-year lows as Fed affirms dovish stance, Wall Street closes higher, Gold gains, Oil edges up after sharp U.S. crude inventory drop-July 30th,2020
Asia Roundup: Aussie eases on U.S.-China tensions, greenback steadies as U.S. treasury yields resume rise, Asian shares consolidate - Monday, August 10th, 2020
Europe Roundup: Sterling slips, erasing recent gains, European stocks grind higher,Gold retreats from record peak, Oil steady as virus fears counter positive factory data-August 3rd,2020
America’s Roundup: Dollar gains on upbeat manufacturing data,Wall Street jumps, Gold pulls back from record high, Oil rises more than 1% on hopes for economic recovery-August 4th,2020
America’s Roundup: Dollar heads for steepest monthly drop in decade, Wall Street gains, Gold rises, Oil posts monthly gains as U.S. reports record output cuts in May-August 1st,2020
Europe Roundup: Sterling heads lower after early gains, European shares dips,Gold edges back from record peak, Oil falls as rising virus cases overshadow demand recovery-August 4th,2020
America’s Roundup: Dollar retreats on stimulus talks, Wall Street ends higher, Gold gains, Oil edges up to highest since March on hopes for U.S. stimulus-August 5th,2020
America’s Roundup: Dollar strengthens after US jobless claims data,Wall Street gains, Gold accelerates higher, Oil settles below 5-month highs amid fuel demand worries-August 7th,2020
Asia Roundup: Aussie off 6-month peak on RBA's downbeat economic assessment, greenback steadies near multi-month lows as traders await U.S. nonfarm payrolls, Asian shares ease on U.S.-China tensions - Friday, August 7th, 2020
Europe Roundup: Sterling rises to five-month high against dollar as BoE signals sub-zero rates not imminent, European shares dip, Gold flirts with record peak, Oil prices pull back from five-month highs as rising product stocks weigh-August 6th,2020
Asia Roundup: Dollar steadies near 2-year low as investors turn to Congress for stimulus, Asian shares surge, markets await EZ economic data - Thursday, July 30th, 2020
Asia Roundup: Aussie steadies as RBA keeps policy steady, dollar gains against yen as investors await U.S. stimulus deal, Asian shares surge - Tuesday, August 4th, 2020
Asia Roundup: Aussie gains on upbeat economic data, dollar eases on recovery worries, Asian shares consolidate - Wednesday, August 5th, 2020
Europe Roundup: Euro rise after positive economic indicators, European shares gains, Gold rise to new record high, Oil prices rise as U.S. crude inventories show large drop-August 5th,2020
Europe Roundup:Euro dips on renewed U.S.-Sino tensions, jobs data eyed, European stocks flat, Gold eases, Oil slips below $45 on demand concerns, set for weekly rise-August 7th,2020
America’s Roundup: Dollar inches higher after stalemate in pandemic aid talks, Wall Street dips, Gold crashes over 4%, Oil eases as U.S. stimulus hopes dim, virus cases rise-August 12th,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.