Europe Roundup: Sterling eases below 1.2900 as probability of a hung parliament increases, euro tumbles as EZ factory activity declines, investors eye ECB President Lagarde's speech - Monday, December 2nd, 2019
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
America’s Roundup: Dollar retreats on trade uncertainty, Wall Street ends higher,Gold firms,Oil little changed despite OPEC+ plan to deepen cuts-December 6th,2019
Europe Roundup: Sterling at 6-week peak as poll show Conservative lead widening, euro tumbles as EZ PPI eases, European shares plunge on trade tariffs - Tuesday, December 3rd, 2019
Asia Roundup: Kiwi at 4-month peak, dollar steadies against yen on trade deal optimism; Asian shares rally - Friday, December 6th, 2019
America’s Roundup: Dollar slip as U.S.-China trade deadline looms,Wall Street ends flat, Gold firms, Oil rises but U.S.-China trade war weighs on demand outlook-December 11th,2019
Europe Roundup: Sterling consolidates near 8-month peak ahead of UK election, Swiss franc rallies as SNB stands pat, investors eye ECB Lagarde’s speech - Thursday, December 12th, 2019
Europe Roundup: Sterling gains on Conservative Party victory expectations, euro rallies as EZ investor sentiment improve, European shares slump - Tuesday, December 10th, 2019
Europe Roundup: Sterling at 8-month peak on expectations of Conservative win in UK election, euro steadies as EZ investor morale improves, European shares tumble - Monday, December 9th, 2019
Europe Roundup: Sterling off highs on UK poll projections; Swiss franc, yen gains on U.S.-China trade concerns, greenback steadies ahead of Fed policy statement - Wednesday, December 11th, 2019
Asia Roundup: Antipodeans at multi-week peaks on Fed's dovish stance, dollar consolidates within narrow ranges against yen as tariffs decision looms, investors eye UK election - Thursday, December 12th, 2019
Europe Roundup: Sterling at multi-year highs on Johnson's UK election victory, euro rallies on ECB De Guindos' comments, European shares surge - Friday, December 13th, 2019
Asia Roundup: Antipodeans steady near multi-month peak as investors await clarity on fresh U.S. tariffs; greenback consolidates ahead of Fed decision, Asian shares ease - Tuesday, December 10th, 2019
Asia Roundup: Antipodeans surge, dollar rallies against yen on upbeat Chinese factory activity, Asia shares advance - Monday, December 2nd, 2019
Asia Roundup: Aussie rallies as RBA stands pat, greenback eases following weak U.S. manufacturing data, Asian shares plunge on Trump's Latin American tariffs - Tuesday, December 3rd, 2019
America’s Roundup: Dollar down after US-China trade deal, Wall Street ends near flat, Gold gains,Oil nears three-month high-December 14th,2019
Europe Roundup: Sterling rallies as UK retail sales rebound, euro declines as investors expect ECB to move rates deeper into negative, European shares consolidate - Thursday, July 18th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index declined as the U.S. Treasury yields declined following weaker than expected housing data, while investors awaited a policy meeting next week where Fed policymakers are set to cut interest rates for the first time in a decade. The greenback against a basket of currencies traded 0.05 percent down at 97.15, having touched a low of 96.72 on Friday, its lowest since June 5.
EUR/USD: The euro plunged, reversing most of its previous session losses, as investors expected the European Central Bank to follow in the Fed’s footsteps. The ECB is likely to move policy rates deeper into negative later this year as the eurozone economy continues to struggle. The European currency traded 0.1 percent down at 1.1212, having touched a low of 1.1199 earlier, its lowest since July 9. Immediate resistance is located at 1.1278 (38.2% retracement of 1.1412 and 1.1193), a break above targets 1.1304 (50.0% 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 slumped to a 2-week low amid growing expectations the Federal Reserve will cut a total of 75 basis points by the end of the year. Moreover, increasing signs that a trade dispute between the United States and China was taking a toll on corporate earnings further dented the bid tone around the pair. The major was trading 0.1 percent down at 107.87, having hit a low of 107.61 earlier, its lowest since July 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims and the Philadelphia Fed manufacturing survey. 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 surged, extending previous session's rebound after data showed British retail sales bounced unexpectedly in June, boosted by sales of antiques and second-hand clothes. The economy's retail sales jumped 1.0 percent in June, well above forecasts for a 0.3 percent drop. The major traded 0.5 percent up at 1.2493, having hit a low of 1.2382 on Wednesday, 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 1.2510 (61.8% retracement of 1.2578 and 1.2396), a break above could take it near 1.2542 (78.6% 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 0.5 percent up at 89.83 pence, having hit a low of 90.51 on Wednesday, it’s lowest since Jan. 11.
USD/CHF: The Swiss franc edged up as investors remained cautious over the uncertainty whether the talks between the United States and China will resume. The major trades 0.05 percent down at 0.9878, 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 0.9817 (July 15 Low), and any close below that level will drag it till 0.9778 (July 1 Low).
European shares consolidated within narrow ranges amid concerns over corporate health as progress towards a U.S.-China trade deal stalled.
The pan-European STOXX 600 index gained 0.05 percent at 387.60 points, while the FTSEurofirst 300 rallied 0.05 percent to 1,525.49 points.
Britain's FTSE 100 trades 0.3 percent down at 7,513.73 points, while mid-cap FTSE 250 eased 0.3 to 19,552.52 points.
Germany's DAX eased 0.5 percent at 12,277.86 points; France's CAC 40 trades 0.05 percent higher at 5,572.86 point.
Crude oil prices surged by more than 1 percent amid mixed signals from the United States and Iran. International benchmark Brent crude was trading 1.2 percent higher at $64.26 per barrel by 1101 GMT, having hit a low of $63.20 on Wednesday, its lowest since July 5. U.S. West Texas Intermediate was trading 1.2 percent up at $57.21 a barrel, after falling as low as $56.19 on Wednesday, its lowest since the July 3.
Gold prices plunged from a 2-week high hit earlier in the session on profit-booking; however, increased expectations of a dovish monetary policy stance from the U.S. Federal Reserve limited downside. Spot gold eased 0.5 percent to $1,418.88 an ounce by 1103 GMT, having touched a high of $1,430.02 earlier, its highest since July 3.
The U.S. Treasuries slightly gained during the afternoon session, ahead of the country’s weekly initial jobless claims, besides, the Philly Fed and Conference Board’s Leading indices, all scheduled to be released today by 12:30GMT. The yield on the benchmark 10-year Treasury yield slipped 1/2 basis point to 2.057 percent, the super-long 30-year bond yields remained flat at 2.573 percent and the yield on the short-term 2-year traded 1 basis point lower at 1.826 percent.
The United Kingdom’s gilts remained tad higher during European trading hours despite a better-than-expected jump in the country’s retail sales for the month of June. The yield on the benchmark 10-year gilts, slipped 1 basis point to 0.750 percent, the 30-year yield rose also suffered 1 basis point to 1.372 percent and the yield on the short-term 2-year also edged nearly 1 basis point down to 0.528 percent.
The Australian government bonds jumped during Asian session tracking a similar movement in the U.S. Treasuries despite a tad higher growth in the country’s employment for the month of June, although unemployment rate remained unchanged. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged nearly 5-1/2 basis points to 1.346 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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