Asia Roundup: Aussie slumps on dismal China PPI, greenback gains as U.S.-China trade-deal progress boosts risk appetite, investors eye UK labour report - Tuesday, September 10th, 2019
Asia Roundup: Euro consolidates ahead of ECB policy decision, dollar rallies against yen as trade optimism boosts risk sentiment, Asia shares at 6-week peak - Thursday, September 12th, 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
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
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
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
Europe Roundup: Sterling rallies above 1.2400 on Brexit deal hopes, gold set for third weekly decline, investors eye U.S. retail sales - Friday, September 13th, 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
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
Asia Roundup: Antipodeans surge on trade optimism, euro advances after ECB cuts key rate and approves restarting bond purchases, Asian shares rally - Friday, September 13th, 2019
Asia Roundup: Antipodeans decline on downbeat Chinese new home prices, greenback gains ahead of Fed policy meeting, Asian shares tumble - Tuesday, September 17th, 2019
America’s Roundup: Dollar climbs on U.S. oil stockpile use after Saudi attacks,Wall Street dips, Gold rises 1%.Oil jumps nearly 15% in record trading after attack on Saudi facilities-September 17th, 2019
America's Roundup: Euro gains after ECB decision, yen weakens on trade hopes, Wall Street gains, Gold dips, Oil prices fall 1% on U.S.-China trade doubts, OPEC+ talks-September 13th, 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: Euro gains as bank relief offsets ECB stimulus, Wall Street ends mixed, Gold eases,Oil dips as demand concerns counter U.S.-China trade hopes-September 14th,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
Europe Roundup: Sterling steadied amid Brexit concerns, euro gains on upbeat German factory orders, gold at 6-year peak-Tuesday, August 6th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rebounded from multi-week lows after Trump called the Chinese currency move a major violation and currency manipulation. The greenback against a basket of currencies traded 0.2 percent up at 97.66, having touched a high of 98.93 on Thursday, its highest since May 15, 2017.
EUR/USD: The euro trimmed gains after rising to an over 2-week peak earlier as the greenback rebounded from recent lows. The major found some support after data showed German industrial orders rose 2.5 percent in June, the biggest jump since August 2017. The European currency traded flat at 1.1200, having touched a low of 1.1026 on Thursday, its lowest since May 2017. Immediate resistance is located at 1.1282 (July 19 High), a break above targets 1.1322 (July 2 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1133 (10-DMA).
USD/JPY: The dollar bounced back from a 7-month low as a rebound in the equity markets boosted investor risk sentiment. However, escalation of U.S.-China trade tensions limited the upside. The major was trading 0.4 percent up at 106.32, having hit a low of 105.52 earlier, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. JOLTS Job Openings data and Fed Bullard's speech. Immediate resistance is located at 107.41 (50.0% retracement of 109.31 and 105.52), a break above targets 107.86 (61.8% retracement). On the downside, support is seen at 104.65 (Jan. 3 Low), a break below could take it lower at 104.00.
GBP/USD: Sterling steadied above a 31-month low as investors refrained from taking big positions and preferred staying on the sidelines due to the summer recess in the British Parliament. However, worries that Britain is heading for a no-deal Brexit will continue to dent investor sentiment. The major traded 0.3 percent up at 1.2209, having hit a low of 1.2079 on Thursday, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2253 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2305 (61.8% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading 0.4 percent up at 91.93 pence, having hit a low of 92.49 earlier, it’s lowest since Sept 2017.
USD/CHF: The Swiss franc retreated from a 1-1/2 month peak as the greenback rebounded from recent lows. The major trades 0.2 percent up at 0.9749, having touched a low of 0.9703 earlier; it’s lowest since June 25. On the higher side, near-term resistance is around 0.9768 (23.6% retracement of 0.9975 and 0.9703) and any break above will take the pair to next level till 0.9808 (38.2% retracement). The near-term support is around 0.9700, and any close below that level will drag it till 0.9650 (Sept. 6 Low).
European shares steadied after recording their biggest 2-day decline in over 3 years, as upbeat German data revived investor risk sentiment.
The pan-European STOXX 600 index surged 0.5 percent at 371.44 points, while the FTSEurofirst 300 gained 0.5 percent to 1,461.40 points.
Britain's FTSE 100 trades 0.1 percent up at 7,232.80 points, while mid-cap FTSE 250 rallied 0.7 to 19,008.24 points.
Germany's DAX rose 0.6 percent at 11,729.11 points; France's CAC 40 trades 0.9 percent higher at 5,289.57 points.
Crude oil prices plunged near 7-month lows after U.S. President Donald Trump vowed to impose new tariffs on Chinese imports, escalating trade tensions between China and the United States. International benchmark Brent crude was trading 0.4 percent lower at $59.81 per barrel by 1101 GMT, having hit a low of $59.08 earlier, its lowest since January. U.S. West Texas Intermediate was trading 0.2 percent down at $54.85 a barrel, after falling as low as $53.58 on Thursday, its lowest since the June 19.
Gold prices steadied after hitting a 6-year high earlier in the session as simmering tensions between Washington and Beijing propelled investors towards safe-haven assets. Spot gold was trading flat at $1,463.86 an ounce at 1103 GMT after having touched a high of $1,474.80 earlier, its highest since April 2013. U.S. gold futures were down 0.2 percent at $1,474.10.
The U.S. Treasuries suffered during the afternoon session, ahead of today’s JOLTs job openings data for the month of June, FOMC member Bullard’s speech and the short-term 3-year auction, all scheduled at 14:00GMT, 16:00GMT and 17:00GMT respectively. The yield on the benchmark 10-year Treasury yield remained tad 1/2 basis point higher at 1.741 percent, the super-long 30-year bond yields hovered around 2.291 percent and the yield on the short-term 2-year edged nearly 1 basis point higher to 1.589 percent.
The United Kingdom’s gilts slipped slightly during European trading hours ahead of the country’s gross domestic product (GDP) for the second quarter of this year, scheduled to be released on August 9 by 08:30GMT and the manufacturing production data for the month of June, due on the same day for further direction in the debt market. The yield on the benchmark 10-year gilts, edged tad 1/2 basis point higher to 0.519 percent, the 30-year yield remained flat at 1.191 percent and the yield on the short-term 2-year surged 1-1/2 basis points to 0.444 percent.
The Australian government bonds slumped during Asian session of the second trading day of the week, even as investors maintained distance from riskier assets amid ongoing trade tensions between the United States and China after the Reserve Bank of Australia (RBA) remained on hold at its monetary policy meeting, held today. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 2-1/2 basis points to 1.042 percent, the yield on the long-term 30-year bond surged 4 basis points to 1.729 percent and the yield on short-term 2-year traded 3 basis points higher at 0.768 percent.