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
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 slips ahead of Fed rate decision,Wall Street ends mixed, Gold rises, Oil plummets 6% as Saudi minister says supplies fully restored-September 18th,2019
America's Roundup:Dollar dips on mixed U.S. payrolls data,Wall Street advances,Gold falls 1%, Oil jumps as Fed signals it could act to sustain expansion-September 7th,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
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 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
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
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
Asia Roundup: Antipodeans decline on downbeat Chinese new home prices, greenback gains ahead of Fed policy meeting, Asian shares tumble - Tuesday, September 17th, 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 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
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
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
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 steadies amid ongoing Brexit fears, euro slumps despite German economy gaining momentum, European shares plunge - Wednesday, May 15th, 2019
Economic Data Ahead
Key Events Ahead
DXY: The dollar index rallied to a 6-day peak as Washington intensified pressure on Beijing to correct trade imbalances in a challenge to China's state-led economic model. The greenback against a basket of currencies traded 0.05 percent up at 97.57, having touched a low of 97.03 on Monday, its lowest since May 1. FxWirePro's Hourly Dollar Strength Index stood at 120.41 (Highly Bullish) by 1000 GMT.
EUR/USD: The euro plunged to a near 1-week low after Italy's deputy prime minister said Rome was ready to break EU fiscal rules. Investors appear to have ignored data from Germany that showed the economy returned to growth in the first quarter, as householders spent more freely and construction activity gained momentum. The European currency traded 0.05 percent down at 1.1199, having touched a high of 1.1263 on Monday, its highest since May 1. FxWirePro's Hourly Euro Strength Index stood at -59.31 (Bearish) by 1000 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 1.1182 (May 8 Low) a break below could drag it till 1.1140 (April 24 Low).
USD/JPY: The dollar declined, reversing some of its previous session gains, amid an escalating dispute between Washington and Beijing since last week. Additionally, China's surprisingly weaker growth in retail sales and industrial output for April added pressure on Beijing to roll out more stimulus as the trade war with the United States intensified. The major was trading 0.2 percent down at 109.39, having hit a low of 109.01 on Monday, its lowest since Feb. 1. FxWirePro's Hourly Yen Strength Index stood at 105.07 (Highly Bullish) by 1000 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, industrial production, capacity utilization, housing market index and a speech by Fed's Quarles. Immediate resistance is located at 110.04 (38.2% retracement of 111.68 and 109.01), a break above targets 110.67 (61.8% retracement). On the downside, support is seen at 109.01 (May 14 Low), a break below could take it lower at 108.49 (Jan. 31 Low).
GBP/USD: Sterling steadied after falling to a near 3-week low in the prior session after PM May's spokesman stated that she planned to put forward her thrice-rejected Brexit deal in the week beginning June 3, to try to secure an agreement before lawmakers go on summer holiday. The major traded flat at 1.2905, having hit a low of 1.2896 on Tuesday; it’s lowest since Apr. 26. FxWirePro's Hourly Sterling Strength Index stood at -133.62 (Highly Bearish) 1000 GMT. Immediate resistance is located at 1.2963 (Apr. 24 High), a break above could take it near 1.3049 (Apr. 30 High). On the downside, support is seen at 1.2865 (Feb. 7 Low), a break below targets 1.2854 (Apr. 25 Low). Against the euro, the pound was trading 0.1 percent down at 86.73 pence, having hit a low of 86.91 on Tuesday, it’s lowest since Mar. 21.
USD/CHF: The Swiss franc surged, hovering towards a 4-week peak hit earlier in the week, as weak China data and fresh Italian debt woes cast a shadow over global markets. The major trades 0.1 percent down at 1.0074, having touched a low of 1.0049 on Monday; it’s lowest since Apr. 16. FxWirePro's Hourly Swiss Franc Strength Index stood at 66.65 (Bullish) by 1000 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 slumped, weighed down by losses in Italian shares, while sterling steadied amid fears PM May's Brexit deal will be voted down again.
The pan-European STOXX 600 index tumbled 0.3 percent at 375.25 points, while the FTSEurofirst 300 index declined 0.3 percent to 1,476.33 points.
Britain's FTSE 100 trades 0.05 percent up at 7,243.00 points, while mid-cap FTSE 250 eased 0.05 to 19,363.59 points.
Germany's DAX fell 0.5 percent at 11,934.53 points; France's CAC 40 trades 0.4 percent lower at 5,321.23 points.
Crude oil prices declined after data showed a surprise rise in U.S. crude inventories and the U.S.-Chinese trade dispute threatened oil demand, although Middle East tensions limited downside. International benchmark Brent crude was trading 0.3 percent lower at $70.67 per barrel by 1014 GMT, having hit a high of $72.56 on Monday, its highest since Apr, 30. U.S. West Texas Intermediate was trading 0.5 percent down at $61.04 a barrel, after rising as high as $63.32 on Monday, its highest since the May 2.
Gold prices steadied after falling from a 1-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns. Spot gold was trading 0.1 percent down at $1,297.93 an ounce by 1018 GMT, having touched a high of $1,303.21 on Tuesday, its highest since Apr. 11. U.S. gold futures edged 0.1 percent higher to $1,297.20 an ounce.
The U.S. Treasury yields slumped during the afternoon session, ahead of the country’s retail sales for the month of April, scheduled to be released today by 12:30GMT, besides, a host of speeches by Federal Open Market Committee (FOMC) members – Quarles, and Barkin, shall add further direction to the debt market. The yield on the benchmark 10-year Treasury yield plunged 4-1/2 basis points to 2.375 percent, the super-long 30-year bond yields slumped 3-1/2 basis points to 2.818 percent and the yield on the short-term 2-year also traded 3-1/2 basis points lower at 2.168 percent.
The German bunds jumped during European trading session after investors have largely shrugged-off the rise in the country’s gross domestic product (GDP) for the first quarter of this year, released early this year. The German 10-year bond yields, which move inversely to its price, slumped 3 basis points to -0.101 percent, the yield on 30-year note plunged nearly 4 basis points to 0.536 percent and the yield on short-term 2-year traded 2 basis points down at -0.659 percent.
The Australian government bonds rallied during Asian trading session as trade tensions continued to bother market sentiments, thus pushing them towards safe-haven assets, while the country’s employment report for the month of April, scheduled to be released on May 16 by 01:30GMT, will be closely eyed for further direction in the debt market. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slipped 1-1/2 basis points to 1.695 percent, the yield on the long-term 30-year bond edged nearly 1 basis point down to 2.332 percent and the yield on short-term 2-year traded 1 basis point lower at 1.285 percent.