Europe Roundup: Sterling eases as investors eye vote on early election, euro tumbles as EZ growth halves in Q2, markets await U.S. non-farm payroll report - Friday, September 6th, 2019
Europe Roundup: Swiss franc, yen at 5-week lows as risk appetite improves, greenback gains as U.S. Treasury yields surge, sterling off 6-week peak amid persisting political uncertainty - Tuesday, September 10th, 2019
Europe Roundup: Sterling eases on growing Brexit uncertainty, euro gains as German investor morale improves, oil off highs as markets assess Saudi attack impact - Tuesday, September 17th, 2019
Europe Roundup: Sterling off highs amid persisting no-deal Brexit concerns, greenback gains ahead of Fed policy meeting, oil rallies on Saudi facility attacks- Monday, September 16th, 2019
America's Roundup: Dollar gains on trade optimism, strong U.S. data, Wall Street ends higher, Gold slides 2%, Oil prices slip-September 6th, 2019
America's Roundup: Dollar gains ahead of ECB meeting, Wall Street gains, Gold climbs, Oil prices slide 2% after report Trump weighed easing Iran sanctions-September 12th,2019
Europe Roundup: Sterling eases on worse-than-expected retail sales, Swiss franc rallies as SNB keeps policy steady, European shares surge - Thursday, September 19th, 2019
Asia Roundup: Aussie slumps on weak economic data, Kiwi tumbles as NZ posts current account deficit, greenback steadies ahead of Fed policy decision - Wednesday, September 18th, 2019
Europe Roundup: Sterling slumps as UK inflation declines, greenback steadies as investors await Fed monetary policy cues, euro eases on soft CPI - Wednesday, September 18th, 2019
Asia Roundup: Aussie at 6-week peak amid optimism around U.S.-China trade talks, dollar gains against yen as risk appetite improves, Asian shares surge - Wednesday, September 11th, 2019
America's Roundup: Dollar firms, ECB meeting in focus, Wall Street slips, Gold dips to near one-month low, Oil falls on possibility of Iran exports resuming after Trump fires hardline adviser-September 11th, 2019
Asia Roundup: Antipodeans ease as China's slowdown deepens, dollar off highs against yen as Saudi facility attacks weaken risk sentiment, oil at 4-month peak - Monday, September 16th, 2019
Asia Roundup: Antipodeans rally as global tensions abate, greenback steadies on firm U.S. economic data, investors eye EZ Q2 GDP - Friday, September 6th, 2019
America’s Roundup: Dollar gains as risk sentiment improves, Wall Street ends flat, Gold dips to 2-week low, Oil gets boost as new Saudi minister commits to output cuts-September 10th,2019
America’s Roundup: Dollar gains as Fed cuts rates, but easing outlook uncertain, Wall Street sinks, Gold slides 1%,Oil prices extend losses after Saudi pledge to restore lost output-September 19th,2019
Asia Roundup: Aussie at 1-month peak on upbeat home loan data, greenback halts 4-day losing streak on Fed Powell's comments, Asian shares surge - Monday, September 9th, 2019
Europe Roundup: Sterling rises above 1.3000 on Brexit deal hopes, euro gains on France economic growth projections, European shares plunge - Monday, May 13th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar eased, extending losses for the third straight session, as trade negotiations between the U.S. and China ended after President Donald Trump raised tariffs on Chinese goods. The greenback against a basket of currencies traded 0.5 percent down at 97.29, having touched a low of 97.13 on Friday, its lowest since April 18 FxWirePro's Hourly Dollar Strength Index stood at -34.36 (Neutral) by 1100 GMT.
EUR/USD: The euro slightly edged higher after the Bank of France projected the French economy should grow 0.3 percent in the second quarter, despite the impact of anti-government protests. The European currency traded 0.05 percent up at 1.1235, having touched a high of 1.1253 on Friday, its highest since May 1. FxWirePro's Hourly Euro Strength Index stood at -5.40 (Neutral) by 1100 GMT. Immediate resistance is located at 1.1262 (April 22 High), a break above targets 1.1304 (April 18 High). On the downside, support is seen at 1.1187 (May 1 Low) a break below could drag it till 1.1140 (April 24 Low).
USD/JPY: The dollar plunged, hovering towards a 3-month trough hit in the prior session, as investors braced for threatened retaliation by China for Washington's tariff increase on $200 billion worth of Chinese goods, following accusations by U.S. President Donald Trump that Beijing had reneged on earlier commitments. The major was trading 0.3 percent down at 109.66, having hit a low of 109.47 on Friday, its lowest since Feb. 4. FxWirePro's Hourly Yen Strength Index stood at 124.83 (Highly Bullish) by 1100 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of speeches by Fed's Rosengren and Clarida. Immediate resistance is located at 110.32 (38.2% retracement of 111.68 and 109.47), a break above targets 110.84 (61.8% retracement). On the downside, support is seen at 109.47 (May 9 Low), a break below could take it lower at 109.13 (Jan. 29 Low).
GBP/USD: Sterling rose above the 1.3000 handle, after a newspaper report suggested the British parliament might still reach a cross-party deal on Brexit. The major traded 0.2 percent up at 1.3019, having hit a low of 1.2967 on Thursday; it’s lowest since Apr. 30. FxWirePro's Hourly Sterling Strength Index stood at 27.33 (Neutral) 1100 GMT. Immediate resistance is located at 1.3049 (Apr. 30 High), a break above could take it near 1.3102 (May 1 High). On the downside, support is seen at 1.2976 (Mar. 29 Low), a break below targets 1.2923 (Apr. 30 Low). Against the euro, the pound was trading 0.1 percent down at 86.25 pence, having hit a low of 86.48 on Thursday, it’s lowest since Apr. 30.
USD/CHF: The Swiss franc rallied to a 3-1/2 week peak as a deadlock in U.S.-China trade talks and uncertainty over a deal sent investors seeking safety in safe-haven assets. The major trades 0.4 percent down at 1.0180, having touched a low of 1.0077 earlier; it’s lowest since Apr. 17. FxWirePro's Hourly Swiss Franc Strength Index stood at 164.74 (Highly Bullish) by 1100 GMT. On the higher side, near-term resistance is around 1.0159 (Apr. 18 High) and any break above will take the pair to next level till 1.0196 (May 6 High). The near-term support is around 1.0032 (Apr. 16 Low), and any close below that level will drag it till 1.0000.
European shares declined, extending previous session losses as the U.S.-China deadlock quelled hopes that both the economies will be able to resolve their trade dispute anytime soon.
The pan-European STOXX 600 index plunged 0.5 percent at 375.03 points, while the FTSEurofirst 300 index eased 0.5 percent to 1,474.60 points.
Britain's FTSE 100 trades 0.1 percent down at 7,196.77 points, while mid-cap FTSE 250 fell 0.6 to 19,257.39 points.
Germany's DAX declined 0.8 percent at 11,964.94 points; France's CAC 40 trades 0.6 percent lower at 5,296.99 points.
Crude oil prices rose by more than 1 percent amid increasing concerns about supply disruptions in the Middle East, however, investors fears over global economic growth prospects limited upside. International benchmark Brent crude was trading 1.4 percent higher at $71.69 per barrel by 1039 GMT, having hit a low of $68.82 last week, its lowest since Apr, 3. U.S. West Texas Intermediate was trading 1.2 percent up at $62.46 a barrel, after falling as low as $60.02 last week, its lowest since the Mar, 29.
Gold prices declined as the greenback steadied against a basket of currencies. Spot gold was down 0.3 percent at $1,283.53 per ounce by 1043 GMT, having touched a high of $1,291.36 on Wednesday, its highest since Apr. 15. U.S. gold futures slipped 0.2 percent to $1,283.40 an ounce.
The U.S. Treasury yields continued to suffer during the afternoon session, as tensions over trade tariffs with China remained on the upfront, while there had been hopes of a more conciliatory resolution, after the US’ action to raise tariffs from 10-25 percent on USD200 billion worth of Chinese imports. The yield on the benchmark 10-year Treasury yield plunged 3 basis points to 2.425 percent, the super-long 30-year bond yields edged 1-1/2 basis points lower to 2.858 percent and the yield on the short-term 2-year also slumped 3-1/2 basis points to 2.217 percent.
The United Kingdom’s gilts gained during European session ahead of today’s resumption of Brexit talks between the government and Labour Party; polls conducted over the weekend have already showed a possibility of further rise in support for the Brexit Party and the Conservatives in fourth place in terms of voting intentions for next week’s European Parliament elections. Investors will also be focussing on the country’s employment report for the month of March, scheduled to be released on May 14 by 08:30GMT for further direction in the debt market. 1The yield on the benchmark 10-year gilts, slipped 1 basis point to 1.126 percent, the super-long 30-year bond yields suffered nearly 1-1/2 basis points to 1.666 percent and the yield on the short-term 2-year traded tad lower at 0.735 percent
The Japanese government bonds ended the Asian session on a flat note ahead of the country’s super-long 30-year auction, scheduled to be held on May 14 by 03:35GMT, amid an otherwise silent day that witnessed data of little economic significance. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, remained tad lower at -0.047 percent, the yield on the long-term 30-year hovered around 0.540 percent and the yield on short-term 2-year traded nearly flat at -0.159 percent
The Australian government bonds jumped during Asian session of the first trading day of the week after the trade war between the United States and China worsened, with the former raising the tariffs on Chinese imports, with burgeoning threat of a further imposition if no agreement is reached within a month. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slumped 2 basis points to 1.719 percent, the yield on the long-term 30-year bond slipped 1-1/2 basis points to 2.340 percent and the yield on short-term 2-year also traded 1-1/2 basis points lower at 1.314 percent.