Europe Roundup: Euro takes a breather after four-day rising streak, European shares dips, Gold drops 1%,Oil at highest since March on lower U.S. inventories, recovering demand-May 21st 2020
Asia Roundup: Euro rallies on Franco-German proposal for recovery fund, Asian shares consolidate as vaccine hopes ease, investors eye FOMC minutes - Wednesday, May 20th, 2020
Asia Roundup: Aussie eases as Beijing readies new security law, dollar plunges against yen on rising U.S.-China tension, Asian shares slump - Friday, May 22nd, 2020
Europe Roundup: Euro as German survey fuels optimism, European shares rise, Gold dips, Oil falls as U.S.-China tensions take toll-May 25th,2020
America’s Roundup: Dollar treads water against euro, Wall Street gains, Gold dips to two-week low, Oil falls on demand concerns, U.S.-China tensions-May 28th,2020
America’s Roundup: Dollar dented as risk appetite ramps up, Wall Street gains, Gold eases, Oil prices rise as faith in supply cuts grows-May 27th,2020
America’s Roundup: Dollar dips as improved risk appetite, EU recovery fund hopes boost euro, Wall Street ends down, Gold gains, Oil rises as higher U.S. refinery rates offsets surprise crude build-May 29th,2020
Europe Roundup: Sterling edges lower as Britain maintains fierce stance on Brexit, European stocks gain, Gold hits 3-week peak, Oil hits one-month high as signs of demand emerge amid coronavirus crisis-May 15th,2020
Asia Roundup: Dollar rallies against yen on easing of coronavirus lockdowns, Asian shares rally, investors eye U.S. consumer confidence data - Tuesday, May 26th, 2020
Europe Roundup: Sterling stuck near 8-week lows on talk of negative rates, Brexit, European shares gain, Gold jumps by 1%,Oil rises as lockdowns ease-May 18th,2020
Europe Roundup: Euro gains before Trump's press conference on China, European shares dips, Gold up, Oil falls but remains set for biggest monthly gain in years-May 29th,2020
Asia Roundup: Aussie eases on worsening U.S.-China tensions, dollar rallies against yen as risk sentiment slightly improves on potential Japanese stimulus, Asian shares consolidate - Monday, May 25th, 2020
America’s Roundup: Dollar struggles as rising oil prices lift commodity currencies, Wall Street jumps, Gold eases off highs, Oil jumps to two-month high on easing lockdowns, positive vaccine results-May 19th 2020
America’s Roundup: Dollar notches small weekly gain after weak U.S. data, Wall Street gains, Gold hits 7-year high, Oil prices jump as demand shows signs of picking up-May 16th,2020
Asia Roundup: Aussie gains as lockdowns ease, greenback halts 3-day rally on dismal U.S. data, Asian shares nudge higher - Monday, May 18th, 2020
Asia Roundup: Dollar slumps as markets await Trump's Hong Kong response, euro at 2-month peak ahead of EZ prelim CPI, Asian shares plunge - Friday, May 29th, 2020
Europe Roundup: Sterling steadies after Barnier says EU ready for Brexit delay, dollar eases against yen amid renewed geopolitical tensions, oil at 5-month peak - Tuesday, April 9th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index plunged to a near 2-week trough, following subdued U.S. data and gains in commodity-linked currencies driven by surging oil prices. The greenback against a basket of currencies traded 0.1 percent down at 96.93, having touched a peak of 97.52 last week, its highest since Mar. 8. FxWirePro's Hourly Dollar Strength Index stood at -21.43 (Neutral) by 1000 GMT.
EUR/USD: The euro rallied to a near 2-week peak after data showed Italian retail sales rose 0.1 percent in February, following a 0.6 percent increase in January that helped to ease some concerns over the eurozone economic slowdown. Investors now eye Wednesday's European Central Bank meeting that could provide fresh insight on the central bank's short term monetary policy outlook. The European currency traded 0.1 percent up at 1.1276, having touched a high of 1.1280, its highest since Mar. 27. FxWirePro's Hourly Euro Strength Index stood at 42.04 (Neutral) by 1000 GMT. Immediate resistance is located at 1.1285 (Mar. 28 High), a break above targets 1.1331 (Mar. 25 High). On the downside, support is seen at 1.1213 (Mar. 28 Low), a break below could drag it till 1.1176 (Mar. 7 Low).
USD/JPY: The Japanese yen surged to a 6-day low, as Japan appears to have avoided a recession thanks to resilient business spending. Moreover, U.S. threat to impose tariffs on hundreds of European goods further intensified the selling pressure around the pair. The major was trading 0.2 percent down at 111.30, having hit a high of 111.82 on Friday, its highest since Mar. 15. FxWirePro's Hourly Yen Strength Index stood at 65.31 (Bullish) by 1000 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. JOLTS Job Openings and IBD/TIPP economic optimism. Immediate resistance is located at 111.92 (Mar. 6 High), a break above targets 112.13 (Mar. 5 High). On the downside, support is seen at 111.06 (Mar. 13 Low), a break below could take it lower at 110.74 (Mar. 8 Low).
GBP/USD: Sterling steadied below the 1.3100 handle after the European Union’s Barnier stated that EU was ready for Brexit delay, but the length depends on British argument. The major traded 0.2 percent up at 1.3081, having hit a low of 1.2986 on Friday; it’s lowest since Mar. 29. FxWirePro's Hourly Sterling Strength Index stood at -102.50 (Highly Bearish) 1000 GMT. Immediate resistance is located at 1.3149 (Apr. 1 High), a break above could take it near 1.3196 (Apr. 3 High). On the downside, support is seen at 1.3003 (Mar. 21 Low), a break below targets 1.2976 (Mar. 29 Low). Against the euro, the pound was trading 0.05 percent up at 86.15 pence, having hit a low of 86.45 on Monday, it’s lowest since Mar. 29.
USD/CHF: The Swiss franc eased, halting 2-days of rally, as a surge in oil prices to 5-month highs boosted most commodity-linked currencies. The major trades 0.1 percent up at 0.9993, having touched a high of 1.0012 on Friday; it’s highest since Mar. 19. FxWirePro's Hourly Swiss Franc Strength Index stood at 36.82 (Neutral) by 1000 GMT. On the higher side, near-term resistance is around 1.0024 (Feb. 22 High) and any break above will take the pair to next level till 1.0052 (Mar. 15 High). The near-term support is around 0.9937 (Mar. 28 Low), and any close below that level will drag it till 0.9895 (Jan.17 Low).
European shares surged, supported by gains in banking stock, however, U.S. threat to impose tariffs on hundreds of European goods limited upside.
The pan-European STOXX 600 index gained 0.3 percent at 388.69 points, while the FTSEurofirst 300 index rallied 0.3 percent to 1,528.25 points.
Britain's FTSE 100 trades 0.1 percent up at 7,459.35 points, while mid-cap FTSE 250 fell 0.2 to 19,478.90 points.
Germany's DAX rose 0.05 percent at 11,969.33 points; France's CAC 40 trades 0.2 percent higher at 5,480.45 points.
Crude oil prices surged to a 5-month high, boosted by concern that violence in Libya could further tighten supply already squeezed by OPEC cuts and U.S. sanctions on Iran and Venezuela. International benchmark Brent crude was trading 0.05 percent up at $71.10 per barrel by 1016 GMT, having hit a high of $71.33, its highest since Nov. 12. U.S. West Texas Intermediate was trading 0.2 percent up at $64.56 a barrel, after rising as high as $64.77, its highest since the Nov. 1.
Gold prices rose, hovering towards a more than one week peak touched in the previous session as the greenback eased on weak U.S. economic data. Spot gold was 0.4 percent up at $1,302.13 per ounce, by 1019 GMT, having touched a high of $1,303.61 on Monday, its highest since March 28. U.S. gold futures were up 0.1 percent at $1,303 an ounce.
The government bond yields in the euro area were a touch lower, amid concern about U.S./European trade tensions. Germany's benchmark 10-year bond yield hovered just below zero percent in early trade but is up 9 basis points from 2-1/2 year lows of minus 0.09 percent hit last month.
The Japanese government bond prices fell slightly, with the 5-year and 10-year JGB yields rising 0.5 basis points each to minus 0.165 percent and minus 0.045 percent, respectively. The 30-year yield rose 1 basis point to 0.540 percent.
The Australian government bond futures were a shade softer on the day, with the three-year bond contract off half a tick at 98.605. The 10-year contract dipped 1 tick to 98.1050. The yields on New Zealand government bonds rose 2 to 3 basis points across the curve.