America’s Roundup: Dollar steady after jobs miss as investors bet taper is on track, Wall Street ends lower, Gold pares gains, Oil rises as the energy crunch shows no signs of slowing down-October 9th,2021
America’s Roundup: U.S. dollar slides for 2nd day, Wall Street rises, Gold firms, Oil settles near 3-year high ahead of OPEC+ meeting-October 2nd ,2021
America’s Roundup: Dollar dips in choppy trading, Wall Street rises, Gold rises to one-month high, Oil prices rise, as Saudis dismiss supply concerns as demand grows-October 15th,2021
Europe Roundup: Sterling hovers near six-day highs vs dollar, European shares dips,Gold slips, Oil steady ahead of OPEC+ supply policy meeting-October 4th,2021
America’s Roundup: Dollar rises against its rivals, Wall Street ends lower,Gold slides over 1%, Brent dips after topping $80 a barrel, highest since Oct 2018-September 29th,2021
Europe Roundup: Sterling holds above $1.36 after UK GDP data, European stocks gain, Gold gains, Oil falls on concerns of faltering economic growth to hit demand-October 13th, 2021
America’s Roundup: U.S. dollar slips from one-year high after employment data, Wall Street slides, Gold jumps 2%, Oil steadies after report China ready to buy more-October 1st,2021
Europe Roundup: Euro consolidates ahead of U.S. non-farms payrolls report, European stocks dip, Gold range-bound, Oil climbs on switch from gas and doubts over U.S. releasing reserves-October 8th, 2021
Europe Roundup: Sterling edges higher after UK jobs data leaves rate bets intact, European shares dips, Gold firms, Oil nears three-year high on energy crunch fears-October 12th,2021
Europe Roundup: Sterling steadies as rising interest rate expectations provide support , European shares rally ,Gold ticks lower, Oil extends losses as U.S. mulls strategic reserve sales-October 7th,2021
Europe Roundup: Euro gains as dollar pauses rally, European shares rise, Gold near one-month peak, Oil prices climb on upgrade to IEA demand forecast-October 14th,2021
Europe Roundup: Sterling falls versus dollar after U.S. yields surge , European shares drop ,Gold slides, Brent tops $80 a barrel on tighter supplies-September 28th,2021
America’s Roundup: Dollar eases from one-year high after US inflation data, Wall Street ends higher, Gold jumps 2% ,Oil eases on profit taking, demand jitters; stays near highest in years-October 14th,2021
Europe Roundup: Sterling unmoved by strong Q2 GDP growth, as inflation fears bite, European shares rebound, Gold climbs, Oil falls after U.S. inventories swell-September 30th,2021
Europe Roundup: Euro falls as stronger U.S. bond yields, dollar weighs, European stocks fall, Gold dips, Oil prices climb as COVID recovery, power generators stoke demand-October 18th, 2021
Europe Roundup: Sterling hits four-week high vs dollar, European stocks inch up, Gold gains, Oil prices rise on China energy demand concerns-October 19th,2021
Asia Roundup: Aussie rebounds from 4-month low as RBA stands pat, dollar gains against yen on robust U.S. manufacturing data, Asian shares rally - Tuesday, February 4th, 2020
Economic Data Ahead
Key Events Ahead
DXY: The dollar index steadied after rebounding from multi-week lows in the previous session on a key U.S. manufacturing survey that showed a surprise recovery. The greenback against a basket of currencies traded flat at 97.82, having touched a low of 97.35 on Friday, its lowest since Jan. 17.
EUR/USD: The euro consolidated within narrow ranges after data released yesterday showed Eurozone factory activity contracted again in January, its shallowest rate since mid-2019. The European Central Bank has struggled for years to get inflation anywhere near its just below 2 percent target and factories again cut prices last month. The European currency traded flat at 1.1060, having touched a high of 1.1095 on Friday, its highest since January 23. Investors’ attention will remain on a series of data from the Eurozone economies and EZ producer price index, ahead of the U.S. factory orders data. Immediate resistance is located at 1.1081, a break above targets 1.1118. On the downside, support is seen at 1.1043 (5-DMA), a break below could drag it below 1.1019.
USD/JPY: The dollar surged, extending previous session gains after the Institute for Supply Management (ISM) reported that U.S. factory activity unexpectedly rebounded in January after contracting for five straight months. Investors now eye the U.S. state of Iowa, where Democrats began months-long process to choose a challenger to President Donald Trump. The major was trading 0.1 percent up at 108.75, having hit a low of 108.31 on Friday, its lowest since Jan. 8. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. factory orders data. Immediate resistance is located at 109.14 (10-DMA), a break above targets 109.36 (21-DMA). On the downside, support is seen at 108.26, a break below could take it near at 108.00.
GBP/USD: Sterling steadied after falling to a 1-week low earlier in the session as investors digested Prime Minister Boris Johnson's tough tone, saying Britain will not adhere to the European Union’s rules and regulations. PM Boris Johnson set out tough terms for Brexit talks with the bloc, rekindling fears Britain would reach the end of an 11-month transition period without agreeing a trade deal. The major traded 0.2 percent higher at 1.3018, having hit a low of 1.2981 earlier, it’s lowest since Jan. 28. Investors’ attention will remain on the trade negotiations, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3067 (21-DMA) , a break above could take it near 1.3120. On the downside, support is seen at 1.2954, a break below targets 1.2904. Against the euro, the pound was trading 0.1 percent up at 84.95 pence, having hit a low of 85.19 earlier, it’s lowest since Jan. 21.
AUD/USD: The Australian dollar rebounded from multi-week lows after the central bank held rates steady and retained the outlook despite the impact of bushfires at home and a virus epidemic in China. The Reserve Bank of Australia kept its cash rate at a record low of 0.75 percent, a widely expected decision given a recent decline in unemployment. The Aussie trades 0.4 percent up at 0.6717, having hit a low of 0.6678 earlier, it’s lowest since Oct. 2. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6670, a break below targets 0.6645. On the upside, resistance is located at 0.6742, a break above could take it near 0.6773 (10-DMA).
NZD/USD: The New Zealand dollar bounced back from a 2-month trough, amid persisting worries over the economic impact from the coronavirus. The Kiwi trades 0.1 percent up at 0.6467, having touched a low of 0.6449 earlier, its lowest level since Dec. 2. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6496 (5-DMA), a break above could take it near 0.6540. On the downside, support is seen at 0.6424, a break below could drag it below 0.6402.
Asian shares rebounded as Chinese markets reversed some of their previous plunge amid official efforts to calm virus fears.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.5 percent.
Tokyo's Nikkei surged 0.5 percent to 23,084.59 points, Australia's S&P/ASX 200 index rose 0.4 percent to 6,948.70 points and South Korea's KOSPI rallied 1.7 percent to 2,154.82 points.
Shanghai composite index rose 1.1 percent to 2,777.01 points, while CSI 300 index traded 2.3 percent up at 3,771.00 points.
Hong Kong’s Hang Seng traded 1.1 percent higher at 26,656.69 points. Taiwan shares added 1.8 percent to 11,555.92 points.
Crude oil prices rebounded from multi-month lows as investors remained calm after Monday's sharp sell-off on fears of the impact of the China coronavirus on demand. International benchmark Brent crude was trading 1.2 percent higher at $54.76 per barrel by 0458 GMT, having hit a low of $53.93 earlier, its lowest since Jan. 2019. U.S. West Texas Intermediate was trading 1.4 percent up at $50.56 a barrel, after falling as low as $49.68 earlier, its lowest since Jan. 2019.
Gold prices declined as the dollar held firm after a key U.S. manufacturing survey showed a surprise rebound, although rising concerns about a widening coronavirus outbreak in China and its economic fallout limited the downside. Spot gold was trading 0.1 percent down at $1,574.97 per ounce by 0504 GMT, having touched a high of $1592.16 on Monday, its highest since Jan. 8. U.S. gold futures fell 0.2 percent to $1,579.50.
The Australian bonds suffered during Asian session of the second trading day of the week, after the Reserve Bank of Australia (RBA) remained on hold at its monetary policy meeting, held early today ahead of the country’s retail sales for the month of December, scheduled to be released on February 6 by 00:30GMT. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, rose nearly 1 basis point to 0.926 percent, the yield on the long-term 30-year bond also edged tad higher to 1.522 percent and the yield on short-term 2-year jumped nearly 3 basis points to trade at 0.655 percent.