FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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Re: FirewoodFX - Market News

#391

Post by B0N3 » Mon Dec 03, 2018 6:55 pm

Asia Roundup:
Antipodeans at multi-month peak on China-U.S. trade truce, oil rallies on production cut speculation, investors await EZ finance ministers' budget meeting – Monday, December 3rd, 2018







Market Roundup

China media welcomes U.S. trade truce, markets surge

G20 sealed landmark deal on WTO reform by ducking 'taboo words'

China, U.S. declare 90-day halt to new tariffs – White House

Britain's Labour threatens PM May with new Brexit hurdle

Macron tells PM to hold talks after worst unrest in Paris for decades

Trump to notify Congress in 'near future' he will terminate NAFTA

Oil surges on U.S.-China trade truce, plans to cut output

China Nov Caixin Mfg PMI Final, 50.2, 50.0 f’cast, 50.1 prev

Japan Nov Nikkei Mfg PMI, 52.2, 51.8 prev

Japan Q3 Business Capex (MOF) (Y/Y), 4.5%, 12.8% prev

Australia Oct Building Approvals, -1.5%, -2.0% f’cast, 3.3% prev, 5.5% r'vsd

Australia Q3 Business Inventories, 0.0%, 0.4% f’cast, 0.6% prev, 0.7% r'vsd

New Zealand Q3 Terms of Trade (q/q), -0.3%, 0.1% f'cast, 0.6% prev



Economic Data Ahead

(0345 ET/0845 GMT) Italy Nov Markit /ADACI Mfg PMI, 48.9 f'cast, 49.2 prev

(0350 ET/0850 GMT) France Nov Markit Mfg PMI, 50.7 f'cast, 50.7 prev

(0355 ET/0855 GMT) Germany Nov Markit/BME Mfg PMI, 51.6 f'cast, 51.6 prev

(0400 ET/0900 GMT) EZ Nov Markit Mfg Final PMI, 51.5 f'cast, 51.5 prev

(0430 ET/0930 GMT) Great Britain Nov Markit/CIPS Mfg PMI, 51.8 f'cast, 51.1 prev



Key Events Ahead

N/A ECB President Mario Draghi and ECB Executive Board Member Benoit Coeure participate in Eurogroup meeting in Brussels

(0800 ET/1300 GMT) Fed Vice-Chair for Supervision Randall Quarles participates in a moderated question-and-answer session in New York

(0900 ET/1400 GMT) Eurozone finance ministers meet to discuss eurozone budget, new powers for their bailout fund and a deposit guarantee scheme in Brussels

(0915 ET/1415 GMT) New York Fed President John Williams speaks at The Evolving Structure of the U.S. Treasury Market conference in New York

(1030 ET/1530 GMT) Federal Reserve Board Governor Lael Brainard speaks at a conference in New York

(1230 ET/1730 GMT) BoE Chief Economist Andy Haldane speaks in Cambridge on public policy in London

(1300 ET/1800 GMT) Dallas Fed President Robert Kaplan participates in a moderated question-and-answer session in Laredo



FX Beat

DXY: The dollar slumped across the board, as the demand for riskier assets rose after U.S. President Donald Trump stated that China has agreed to reduce and remove tariffs below the 40 percent level that Beijing is currently charging on U.S.-made vehicles. The greenback against a basket of currencies trades 0.3 percent down at 96.89, having touched a high of 97.54 on Wednesday, its highest since Nov 13. FxWirePro's Hourly Dollar Strength Index stood at 58.25 (Bullish) by 0500 GMT.

EUR/USD: The euro surged as the European Union finance ministers are expected to agree to give the eurozone bailout fund new responsibilities and discuss economic integration of the bloc to prepare for the next potential crisis. The European currency traded 0.3 percent up at 1.1347, having touched a high of 1.1401 on Thursday, its highest since Nov. 23. FxWirePro's Hourly Euro Strength Index stood at -20.93 (Neutral) by 0500 GMT. Investors’ attention will remain on a series of data from the Eurozone economies, and EZ Sentix investor confidence ahead of the U.S. manufacturing PMI's, construction spending and FOMC member Brainard's speech. Immediate resistance is located at 1.1420 (November 16 High), a break above targets 1.1472 (November 20 High). On the downside, support is seen at 1.1305 (November 30 Low), a break below could drag it till 1.1263 (November 26 Low).

USD/JPY: The dollar edged up, halting a 3-day winning streak after the United States and China agreed to halt additional tariffs in a deal that keeps their trade war from escalating as both the economies try again to bridge their differences with fresh talks aimed at reaching an agreement within 90 days. The major was trading 0.1 percent up at 113.53, having hit a high of 114.03 on Wednesday, its highest since November 13. FxWirePro's Hourly Yen Strength Index stood at 69.79 (Bullish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. manufacturing PMI's, construction spending and FOMC member Brainard's speech. Immediate resistance is located at 114.03 (November 28 High), a break above targets 114.23 (November 12 High). On the downside, support is seen at 113.09 (November 15 Low), a break below could take it lower 112.88 (November 22 Low).

GBP/USD: Sterling rallied, reserving some of its previous session losses, as investors remain cautious about the British parliament's vote on Brexit next month. Prime Minister Theresa May faces a challenge to win a parliament vote next week on a transition deal aimed at avoiding a hard Brexit when Britain leaves the European Union on March 29. The major traded 0.2 percent up at 1.2776, having hit a low of 1.2732 earlier; it’s lowest since November 27. FxWirePro's Hourly Sterling Strength Index stood at -82.89 (Slightly Bearish) 0500 GMT. Investors’ attention will remain UK manufacturing PMI, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2819 (November 27 High), a break above could take it near 1.2884 (November 19 High). On the downside, support is seen at 1.2725 (November 27 Low), a break below targets 1.2695 (October 30 Low). Against the euro, the pound was trading 0.2 percent down at 88.92 pence, having hit a low of 89.24 on Friday, it’s lowest since Nov. 19.

AUD/USD: The Australian dollar rallied to an over 3-month high after the White House stated that President Donald Trump told China's President Xi Jinping at the G20 talks in Argentina that he would not raise tariffs on $200 billion of Chinese goods to 25 percent on Jan. 1 as previously announced. The Aussie trades 0.8 percent up at 0.7365, having hit a high of 0.7380 earlier; it’s highest since August 21. FxWirePro's Hourly Aussie Strength Index stood at 21.61 (Neutral) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7333 (August 22 Low), a break below targets 0.7307 (August 27 Low). On the upside, resistance is located at 0.7405 (August 6 High), a break above could take it near 0.7441 (July 31 High).

NZD/USD: The New Zealand dollar advanced to a 5-month peak, after U.S. and Chinese leaders negotiated a truce in their trade conflict, providing a relief for the global economic outlook. The Kiwi trades 0.4 percent up at 0.6907, having touched a high of 0.6917, its highest level June 25. FxWirePro's Hourly Kiwi Strength Index was at 93.36 (Slightly Bullish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6921 (June 25 High), a break above could take it near 0.6955 (June 18 High). On the downside, support is seen at 0.6816 (November 9 Low), a break below could drag it below 0.6727 (November 19 Low).



Equities Recap

Asian shares rallied as U.S. President Donald Trump and Chinese President Xi Jinping agreed to halt new tariffs during talks in Argentina on Saturday.

MSCI's broadest of Asia-Pacific shares outside Japan traded advanced 1.8 percent.

Tokyo's Nikkei rose 1.0 percent to 22,574.76 points, Australia's S&P/ASX 200 index gained 1.8 percent to 5,771.20 points and South Korea's KOSPI rallied 1.7 percent to 2,133.40 points.

Shanghai composite index surged 2.5 percent to 2,653.74 points, while CSI300 index traded 2.7 percent up at 3,258.63 points.

Hong Kong’s Hang Seng traded 2.4 percent higher at 27,152.91 points. Taiwan shares added 2.5 percent to 10,137.03 points.



Commodities Recap

Crude Oil prices surged to a 10-day peak ahead of a meeting this week by producer cartel OPEC that is expected to result in a supply cut. International benchmark Brent crude was trading 5.4 percent up at $62.29 per barrel by 0520 GMT, having hit a low of $57.48 on Thursday, its lowest since October 2017. U.S. West Texas Intermediate was trading 5.9 percent up at $53.54 a barrel, after falling as low as $49.44 on Thursday, its lowest since the October 2017.

Gold prices rallied on a weaker dollar as China and the United States will attempt to bridge their differences via new talks aimed at reaching a deal within 90 days. Spot gold was 0.3 percent up at $1,225.15 per ounce at 0523 GMT, having touched a high of $1,228.86 on Thursday, its highest level since Nov. 22. U.S. gold futures were up 0.4 percent at $1,230.4 per ounce.










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#392

Post by B0N3 » Tue Dec 04, 2018 7:28 pm

Asia Roundup:
Aussie steadies as RBA stands pat, greenback eases as U.S. Treasury yields slump, Asian shares tumble over U.S.-China trade tensions –
Tuesday, December 4th, 2018







Market Roundup

U.S. expects immediate action from China on trade commitments

Trump urges 'full sentence' for his ex-lawyer Cohen in Russia probe

Treasury yields extend decline, 2-yr/10-yr spread at new 11-year low

Britain's May launches high-stakes parliamentary debate on Brexit plan

UK consumer spending slows in run-up to Brexit – industry data

China c.bank chief says will keep monetary policy flexible

'Yellow vest' protesters knock wind out of French business, economy

Australia Q3 Current Account Balance SA, -10.7 bln, -10.2 bln f’cast, -13.5 bln prev, -12.1 bln r'vsd

Australia Q3 Net Exports Contribution, 0.4%, 0.2% f’cast, 0.1% prev

Australia Dec RBA Cash Rate, 1.50%, 1.50% f’cast, 1.50% prev



Economic Data Ahead

(0430 ET/0930 GMT) Great Britain Nov Markit/CIPS Cons PMI, 52.5 f'cast, 53.2 prev

(0500 ET/1000 GMT) EZ Oct Producer Prices (y/y), 4.5% f'cast, 4.5% prev



Key Events Ahead

N/A ECB Vice President Luis de Guindos participates in ECOFIN meeting in Brussels

N/A BoE Governor Mark Carney speaks to parliament's Treasury Committee about the central bank's report on what Brexit might mean for Britain's economy in London.

(0300 ET/0800 GMT) European Union Finance Ministers' meeting in Brussels

(1000 ET/1500 GMT) New York Fed President John Williams participates in a panel discussion in New York

(1300 ET/1800 GMT) BoE Monetary Policy Committee Member Gertjan Vlieghe speaks in Plymouth



FX Beat

DXY: The dollar index eased to a 5-day low after the U.S. 10-year Treasury yield fell to its lowest level since mid-September. The greenback against a basket of currencies trades 0.2 percent down at 96.73, having touched a high of 97.54 on Wednesday, its highest since Nov 13. FxWirePro's Hourly Dollar Strength Index stood at -114.22 (Highly Bearish) by 0500 GMT.

EUR/USD: The euro rose, extending previous session gains after Eurozone finance ministers stated that Italy's draft 2019 budget was breaking European Union rules and they agreed with the European Commission that Rome should revise it. The European currency traded 0.2 percent up at 1.1377, having touched a high of 1.1401 on Thursday, its highest since Nov. 23. FxWirePro's Hourly Euro Strength Index stood at -4.25 (Neutral) by 0500 GMT. Investors’ attention will remain on a series of data from the Eurozone economies, and EZ producer price index, ahead of the New York business confidence index and economic optimism, and FOMC member William's speech. Immediate resistance is located at 1.1420 (November 16 High), a break above targets 1.1472 (November 20 High). On the downside, support is seen at 1.1305 (November 30 Low), a break below could drag it till 1.1263 (November 26 Low).

USD/JPY: The dollar slumped to a near 1-week low, as U.S. Treasury yields declined to 3-month lows after the Federal Reserve indicated that it may be nearing an end to its three-year rate hike cycle. The U.S. 10-year Treasury yield eased to 2.94 percent, its lowest level since mid-September, while the difference in yield between the U.S. 2-year and 10-year tightened to its smallest since July 2007. The major was trading 0.5 percent down at 113.09, having hit a high of 114.03 on Wednesday, its highest since November 13. FxWirePro's Hourly Yen Strength Index stood at 121.52 (Highly Bullish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the New York business confidence index and economic optimism, and FOMC member William's speech.. Immediate resistance is located at 114.03 (November 28 High), a break above targets 114.23 (November 12 High). On the downside, support is seen at 112.88 (November 22 Low), a break below could take it lower 112.42 (November 19 Low).

GBP/USD: Sterling steadied above the 1.2700 handle after falling to its lowest level since the end of October in the previous session on growing concerns about British parliamentary approval for a proposed Brexit deal. The major traded 0.1 percent up at 1.2739, having hit a low of 1.2698 on Monday; it’s lowest since October 31. FxWirePro's Hourly Sterling Strength Index stood at -80.88 (Slightly Bearish) 0500 GMT. Investors’ attention will remain UK construction PMI and BoE Carney's speech, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2809 (November 30 High), a break above could take it near 1.2884 (November 19 High). On the downside, support is seen at 1.2695 (October 30 Low), a break below targets 1.2661 (August 15 Low). Against the euro, the pound was trading 0.1 percent down at 89.26 pence, having hit a low of 89.27 earlier, it’s lowest since Nov. 19.

AUD/USD: The Australian dollar held firm near a 3-month peak, after the Reserve Bank of Australia held its rates at 1.5 percent at its monthly policy meeting, as widely expected, but remained upbeat on the economy. Moreover, data showing the country's current account deficit narrowed to A$10.7 billion in the third quarter supported the upside. The Aussie trades 0.2 percent up at 0.7369, having hit a high of 0.7393 on Monday; it’s highest since August 9. FxWirePro's Hourly Aussie Strength Index stood at 117.42 (Highly Bullish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7333 (August 22 Low), a break below targets 0.7307 (August 27 Low). On the upside, resistance is located at 0.7405 (August 6 High), a break above could take it near 0.7441 (July 31 High).

NZD/USD: The New Zealand dollar rallied to a 5-1/2 month peak, as oil prices surged, amid expected OPEC-led supply cuts and a mandated reduction in Canadian output. The Kiwi trades 0.4 percent up at 0.6954, having touched a high of 0.6962, its highest level June 15. FxWirePro's Hourly Kiwi Strength Index was at 63.31 (Bullish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6976 (June 15 High), a break above could take it near 0.7023 (May 31 High). On the downside, support is seen at 0.6888 (December 3 Low), a break below could drag it below 0.6816 (November 9 Low).



Equities Recap

Asian shares plunged amid growing doubts over whether the United States and China will be able to resolve trade differences.

MSCI's broadest of Asia-Pacific shares outside Japan traded dropped 0.3 percent.

Tokyo's Nikkei declined 2.4 percent to 22,036.05 points, Australia's S&P/ASX 200 index fell 1.01 percent to 5,713.10 points and South Korea's KOSPI eased 1.1 percent to 2,109.21 points.

Shanghai composite index surged 0.2 percent to 2,657.88 points, while CSI300 index traded 0.05 percent down at 3,260.34 points.

Hong Kong’s Hang Seng traded 0.4 percent lower at 27,078.11 points. Taiwan shares shed 0.5 percent to 10,083.54 points.



Commodities Recap

Crude Oil prices surged, extending gains from the previous session amid expected OPEC-led supply cuts and a mandated reduction in Canadian output. International benchmark Brent crude was trading 0.8 percent up at $62.32 per barrel by 0449 GMT, having hit a high of $62.58 on Monday, its highest since November 23. U.S. West Texas Intermediate was trading 0.8 percent up at $53.49 a barrel, after rising as high as $53.83 on Monday, its highest since the November 23.

Gold prices rose to a more than 4-week high earlier in the session, as the greenback declined after the United States and China agreed to a temporary truce in their trade conflict. Spot gold was 0.5 percent up at $1,236.51 per ounce at 0455 GMT, having touched a high of $1,236.96, its highest level since Nov. 1. U.S. gold futures were down 0.1 percent at $1,238.2 per ounce.










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#393

Post by B0N3 » Wed Dec 05, 2018 7:59 pm

Asia Roundup:
Aussie slumps as Q3 GDP misses expectations, greenback rebounds amid U.S.-China trade war tensions, Asian shares plunge –
Wednesday, December 5th, 2018







Market Roundup

China confident it can clinch U.S. trade pact as Trump demands “real deal”

British PM suffers setbacks as Brexit debate starts in parliament

Mueller says Flynn 'substantially' aided probe of possible links between Russia, Trump campaign

BOJ's Wakatabe warns Japan faces risk of falling back into deflation

Japan to ramp up public works spending to decade-high next year: Nikkei

BOJ on track to reduce superlong JGB purchases in Dec

Australia Q3 Real GDP (q/q) SA, 0.3%, 0.6% f’cast, 0.9% prev

Australia Q3 Real GDP (y/y) SA, 2.8%, 3.3% f’cast, 3.4% prev

China Nov Caixin Services PMI, 53.8, 50.8 prev

Japan Nov Services PMI, 52.3, 52.4 prev



Economic Data Ahead

(0345 ET/0845 GMT) Italy Nov Markit/IHS Services PMI, 49.2 f'cast, 49.2 prev

(0350 ET/0850 GMT) France Nov Markit Services PMI, 55.0 f'cast, 55.0 prev

(0355 ET/0855 GMT) Germany Nov Markit Services PMI, 53.3 f'cast, 53.3 prev

(0400 ET/0900 GMT) EZ Nov Markit Serv Final PMI, 53.1 f'cast, 53.1 prev

(0400 ET/0900 GMT) EZ Nov Markit Comp Final PMI, 52.4 f'cast, 52.4 prev

(0430 ET/0930 GMT) Great Britain Nov Markit/CIPS Services PMI, 52.5 f'cast, 52.2 prev

(0500 ET/1000 GMT) EZ Oct Retail Sales (y/y), 2.1% f'cast, 0.8% prev



Key Events Ahead

N/A ECB Governing Council meeting. No interest rate announcements scheduled

(0330 ET/0830 GMT) ECB President Mario Draghi speaks at an ECB event in Frankfurt

(0430 ET/0930 GMT) BoE publishes Record of the Financial Policy Committee meeting held on Nov. 20 2018 in London

(0430 ET/0930 GMT) Bank of Japan Governor Haruhiko Kuroda speaks at year-end gathering of economists in Tokyo

(1000 ET/1500 GMT) Bank of Canada key policy interest rate announcement in Ottawa

(1400 ET/1900 GMT) Federal Reserve issues the Beige Book of economic condition in Washington D.C.



FX Beat

DXY: The dollar index surged, extending the previous session rebound on growing concerns that Washington and Beijing will be able to clinch a substantive trade deal. The greenback against a basket of currencies trades 0.2 percent up at 97.11, having touched a low of 96.38 on Tuesday, its lowest since Nov 22. FxWirePro's Hourly Dollar Strength Index stood at 92.30 (Slightly Bullish) by 0500 GMT.

EUR/USD: The euro declined, extending previous session losses, after France's prime minister suspended planned increases to fuel taxes for at least six months in response to weeks of sometimes violent protests. The European currency traded 0.2 percent down at 1.1324, having touched a high of 1.1418 on Tuesday, its highest since Nov. 23. FxWirePro's Hourly Euro Strength Index stood at 8.86 (Neutral) by 0500 GMT. Investors’ attention will remain on a series of data from the Eurozone Markit services PMI and retail sales, and ECB President Draghi's speech, ahead of the Fed Quarles's speech. Immediate resistance is located at 1.1379 (December 3 High), a break above targets 1.1420 (November 16 High). On the downside, support is seen at 1.1305 (November 30 Low), a break below could drag it till 1.1263 (November 26 Low).

USD/JPY: The dollar rebounded from a 2-week low touched in the previous session, after China expressed confidence that it can reach a trade deal with the United States, despite fresh warnings from President Donald Trump that he would revert to more tariffs if the two sides failed to resolve their differences. The major was trading 0.3 percent down at 113.05, having hit a low of 112.57 on Tuesday, its lowest since November 20. FxWirePro's Hourly Yen Strength Index stood at 69.21 (Bullish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the Fed Quarles's speech. Immediate resistance is located at 113.23 (November 22 High), a break above targets 114.03 (November 28 High). On the downside, support is seen at 112.42 (November 19 Low), a break below could take it lower 111.82 (October 25 Low).

GBP/USD: Sterling slumped for the fifth straight session after a parliament vote gave UK lawmakers more power over the next Brexit steps if Prime Minister Theresa May's European Union withdrawal deal is voted down. The major traded 0.3 percent down at 1.2682, having hit a low of 1.2658 on Tuesday; it’s lowest since June 2017. FxWirePro's Hourly Sterling Strength Index stood at -119.40 (Slightly Bearish) 0500 GMT. Investors’ attention will remain UK services PMI and UK Financial Policy Committee Statement, amid a lack of economic data from the U. S docket. Immediate resistance is located at 1.2809 (November 30 High), a break above could take it near 1.2884 (November 19 High). On the downside, support is seen at 1.2661 (August 15 Low), a break below targets 1.2600. Against the euro, the pound was trading 0.1 percent down at 89.26 pence, having hit a low of 89.44 on Tuesday, it’s lowest since Nov. 19.

AUD/USD: The Australian dollar plunged below the 0.7300 handle, after data showed the Australian economy grew just 0.3 percent in the third quarter, below expectations of 0.6 percent and previous quarter reading of 0.9 percent. The Aussie trades 0.6 percent down at 0.7295, having hit a high of 0.7393 on Monday; it’s highest since August 9. FxWirePro's Hourly Aussie Strength Index stood at -150.67 (Highly Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7247 (November 8 Low), a break below targets 0.7199 (November 27 Low). On the upside, resistance is located at 0.7405 (August 6 High), a break above could take it near 0.7441 (July 31 High).

NZD/USD: The New Zealand dollar edged down from a 6-month high touched in the previous session, as concerns grew about whether a U.S-China trade war could be averted. The Kiwi trades 0.1 percent down at 0.6919, having touched a high of 0.6969 on Tuesday, its highest level June 15. FxWirePro's Hourly Kiwi Strength Index was at 79.48 (Slightly Bullish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6976 (June 15 High), a break above could take it near 0.7023 (May 31 High). On the downside, support is seen at 0.6888 (December 3 Low), a break below could drag it below 0.6816 (November 9 Low).



Equities Recap

Asian shares slumped, as declines in long-term U.S. Treasury yields and resurgent trade concerns triggered investor worries about global economic growth.

MSCI's broadest of Asia-Pacific shares outside Japan traded dropped 1.4 percent.

Tokyo's Nikkei declined 0.5 percent to 21,919.33 points, Australia's S&P/ASX 200 index plunged 0.8 percent to 5,668.40 points and South Korea's KOSPI eased 0.6 percent to 2,101.31 points.

Shanghai composite index fell 0.6 percent to 2,649.81 points, while CSI300 index traded 0.5 percent down at 3,252.00 points.

Hong Kong’s Hang Seng traded 1.6 percent lower at 26,823.18 points. Taiwan shares shed 1.7 percent to 9,916.74 points.



Commodities Recap

Crude Oil prices declined, weighed down by rising U.S. inventories and a plunge in global stock markets as China's government warned of increasing economic headwinds. International benchmark Brent crude was trading 0.7 percent down at $62.32 per barrel by 0524 GMT, having hit a high of $63.56 on Tuesday, its highest since November 22. U.S. West Texas Intermediate was trading 0.4 percent down at $52.33 a barrel, after rising as high as $54.54 on Wednesday, its highest since the November 22.

Gold prices declined, after rising to a more than 5-week peak in the previous session, as the dollar rebounded. Spot gold was 0.3 percent down at $1,235.13 per ounce as of 0533 GMT, having touched a high of $1,241.82 on Tuesday, its highest level since Oct. 26. U.S. gold futures were down 0.5 percent at $1,240.2 per ounce.










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#394

Post by B0N3 » Thu Dec 06, 2018 8:12 pm

Asia Roundup:
Antipodeans ease on renewed U.S.-China trade tensions, greenback surges amid Fed December rate hike expectations, Asian shares plunge – Thursday, December 6th, 2018







Market Roundup

China telecoms giant Huawei CFO arrested in Canada

China hails Trump-Xi summit, but offers no new details

BOJ's Kuroda dismisses chance of near-term rate hike

China c.bank injects 187.5 bln yuan in 1-year MLF rollover, rate unchanged

OPEC, Russia move closer to cutting oil output

House Democrats plan to send Trump aides' transcripts to Mueller

Japan Dec Reuters Tankan Business Conditions, 23, 26 prev

Australia Oct Retail Sales (m/m), 0.3%, 0.2% f'cast, 0.2% prev, 0.1% r'vsd

Australia Oct Trade Balance G&S (A$), 2316 mln, 3200 mln, 3017 mln prev, 2940 mln r'vsd



Economic Data Ahead

(0200 ET/0700 GMT) Germany Oct Industrial Orders (m/m), -0.4% f'cast, 0.3% prev



Key Events Ahead

(0230 ET/0730 GMT) ECB Vice President Luis de Guindos delivers opening remarks at the 14th Joint ECB/CEPR Labour Market Workshop in Frankfurt

(0300 ET/0800 GMT) General Council meeting of the ECB in Frankfurt

(0850 ET/1350 GMT) BOC Governor Stephen Poloz will deliver a speech about the central bank's interest rate decision on Dec. 5. in Toronto

(1200 ET/1700 GMT) Fed issues quarterly Flow of Funds Assets in Washington

(1215 ET/1715 GMT) Atlanta Fed President Raphael Bostic speaks on the national outlook before a Georgia Economic Outlook event in Atlanta

(1830 ET/2330 GMT) New York Fed President John Williams participates in moderated discussion in New York

(1845 ET/2345 GMT) Fed Chairman Jerome Powell gives brief welcome remarks before the Housing Assistance Council Rural Housing Conference in Washington



FX Beat

DXY: The dollar index surged, amid growing expectations that the Federal Reserve policymakers will raise interest rates again at their Dec 18-19 meeting. The greenback against a basket of currencies trades 0.1 percent up at 97.12, having touched a low of 96.38 on Tuesday, its lowest since Nov 22. FxWirePro's Hourly Dollar Strength Index stood at 63.27 (Bullish) by 0400 GMT.

EUR/USD: The euro consolidated within narrow ranges as investors remained on the sidelines on news that President Emmanuel Macron's government is dropping further fuel-tax hikes in next year's budget amid protests across France over living costs. The European currency traded 0.05 percent up at 1.1347, having touched a high of 1.1418 on Tuesday, its highest since Nov. 23. FxWirePro's Hourly Euro Strength Index stood at 20.55 (Neutral) by 0400 GMT. Investors’ attention will remain on German Factory Orders, ahead of the U.S. Challenger Job cuts, ADP employment Change, trade balance, unemployment benefit claims, unit labour cost, services PMI form both Makit and ISM; and speeches from Fed policymakers. Immediate resistance is located at 1.1379 (December 3 High), a break above targets 1.1420 (November 16 High). On the downside, support is seen at 1.1305 (November 30 Low), a break below could drag it till 1.1263 (November 26 Low).

USD/JPY: The dollar slumped to a near 2-week low, as signals from the Federal Reserve that it may be nearing an end to its 3-year rate hiking cycle triggered the slide in the U.S. Treasury yields. The major was trading 0.5 percent down at 112.68, having hit a low of 112.57 on Tuesday, its lowest since November 20. FxWirePro's Hourly Yen Strength Index stood at 170.25 (Highly Bullish) by 0400 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. Challenger Job cuts, ADP employment Change, trade balance, unemployment benefit claims, unit labour cost, services PMI form both Makit and ISM; and speeches from Fed policymakers. Immediate resistance is located at 113.50 (November 6 High), a break above targets 114.03 (November 28 High). On the downside, support is seen at 112.42 (November 19 Low), a break below could take it lower 111.82 (October 25 Low).

GBP/USD: Sterling eased amid growing concerns whether British Prime Minister Theresa May manages to get her Brexit withdrawal deal through Parliament. The major traded 0.1 percent down at 1.2725, having hit a low of 1.2658 on Tuesday; it’s lowest since June 2017. FxWirePro's Hourly Sterling Strength Index stood at -2.91 (Neutral) 0400 GMT. Investors’ attention will remain on developments surrounding Brexit deal, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2809 (November 30 High), a break above could take it near 1.2884 (November 19 High). On the downside, support is seen at 1.2661 (August 15 Low), a break below targets 1.2600. Against the euro, the pound was trading 0.1 percent down at 89.18 pence, having hit a low of 89.44 on Tuesday, it’s lowest since Nov. 19.

AUD/USD: The Australian dollar declined to an over 1-week low after data showed domestic retail sales grew 0.3 percent in October from a downwardly revised 0.1 percent in September and expectations of a modest 0.2 percent rise. The Aussie trades 0.5 percent down at 0.7231, having hit a low of 0.7218; it’s lowest since November 27. FxWirePro's Hourly Aussie Strength Index stood at -158.98 (Highly Bearish) by 0400 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7199 (November 27 Low), a break below targets 0.7164 (November 13 Low). On the upside, resistance is located at 0.7268 (November 22 High), a break above could take it near 0.7325 (November 19 High).

NZD/USD: The New Zealand dollar tumbled to a 6-day low, as concerns of renewed U.S.-China trade tensions dented investor sentiment. The Kiwi trades 0.4 percent down at 0.6873, having touched a high of 0.6969 on Tuesday, its highest level June 15. FxWirePro's Hourly Kiwi Strength Index was at -90.31 (Slightly Bullish) by 0400 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6976 (June 15 High), a break above could take it near 0.7023 (May 31 High). On the downside, support is seen at 0.6816 (November 9 Low), a break below could drag it below 0.6753 (November 27 Low).



Equities Recap

Asian shares slumped after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth

MSCI's broadest of Asia-Pacific shares outside Japan traded dropped 1.7 percent.

Tokyo's Nikkei declined 1.9 percent to 21,501.62 points, Australia's S&P/ASX 200 index plunged 0.2 percent to 5,657.70 points and South Korea's KOSPI eased 1.5 percent to 2,070.18 points.

Shanghai composite index fell 1.7 percent to 2,605.05 points, while CSI300 index traded 2.2 percent down at 3,181.61 points.

Hong Kong’s Hang Seng traded 2.8 percent lower at 26,060.52 points. Taiwan shares shed 2.3 percent to 9,684.72 points.



Commodities Recap

Crude Oil prices declined, ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut. International benchmark Brent crude was trading 0.9 percent down at $61.02 per barrel by 0450 GMT, having hit a high of $63.56 on Tuesday, its highest since November 22. U.S. West Texas Intermediate was trading 1.2 percent down at $52.30 a barrel, after rising as high as $54.54 on Tuesday, its highest since the November 22.

Gold prices rallied, hovering towards a 5-week peak touched earlier in the week as the dollar declined amid a spike in risk aversion. Spot gold was 0.2 percent up at $1,239.94 per ounce at 0457 GMT, having touched a high of $1,241.82 on Tuesday, its highest level since Oct. 26. U.S. gold futures were up 0.3 percent at $1,245.7 per ounce.










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#395

Post by B0N3 » Fri Dec 07, 2018 11:12 pm

Asia Roundup:
Aussie eases on RBA rate cut speculation, greenback gains as Fed Powell emphasis strength in labour market, Asian shares rebound –
Friday, December 7th, 2018







Market Roundup

White House, Trudeau seek to distance themselves from Huawei move

Tariffs have hit confidence, to slow U.S. economy -Fed's Williams

Fed's Powell: U.S. economy performing 'very well' though benefits uneven

Merkel's party votes for new leader, and new era in Germany

Oil drops as OPEC makes supply cut dependent on Russian support

Lawmakers propose N. Irish amendment to May's Brexit deal -BBC

UK 30-year bonds head for biggest weekly gain since 2009 as stocks plunge

Japan Oct real wages fall for 3rd straight month

Foreign CB US debt holdings + $2.107 bln to $3.403 tln Dec 5 week

Treasuries -$9 mln to $3.028 tln, agencies + $1.499 bln to $308.343 bln

Japan Oct All Household Spending YY, -0.3%, 1.4% f’cast, -1.6% prev



Economic Data Ahead

(0200 ET/0700 GMT) Germany Oct Industrial Output MM, 0.3% f'cast, 0.2% prev

(0245 ET/0745 GMT) France Oct Current Account, -1.9 bln prev

(0245 ET/0745 GMT) France Oct Industrial Output MM, 0.7% f'cast, -1.8% prev

(0330 ET/0830 GMT) Great Britain Nov Halifax House Prices MM, 0.5% f'cast, 0.7% prev

(0330 ET/0830 GMT) Great Britain Nov Halifax House Price 3M/YY, 1.0% f'cast, 1.5% prev

(0400 ET/0900 GMT) Italy Oct Retail Sales SA MM, -0.80% prev

(0500 ET/1000 GMT) EZ Q3 Employment Overall Final, 158,285.6k prev

(0500 ET/1000 GMT) EZ Q3 Employment Final YY, 1.3% f'cast, 1.3% prev

(0500 ET/1000 GMT) EZ Q3 GDP Revised QQ, 0.2% f'cast, 0.2% prev

(0500 ET/1000 GMT) EZ Q3 GDP Revised YY, 1.7% f'cast, 1.7% prev



Key Events Ahead

(0330 ET/0830 GMT) ECB Executive Board Member Benoit Coeure speaks at a meeting in Frankfurt

(1215 ET/1715 GMT) Fed Board Governor Lael Brainard speaks on “Financial Stability” at an event in Washington



FX Beat

DXY: The dollar index rebounded amid expectations the Federal Reserve will raise interest rates again at its Dec. 18-19 meeting, after Fed Chairman Jerome Powell emphasized the strength of the labour market late Thursday. However, the upside appears limited as investors focus on how much further it might raise rates and whether a pause is imminent. The greenback against a basket of currencies trades 0.1 percent up at 96.88, having touched a low of 96.38 on Tuesday, its lowest since Nov 22. FxWirePro's Hourly Dollar Strength Index stood at 3.75 (Neutral) by 0500 GMT.

EUR/USD: The euro edged down, as the greenback surged after Atlanta Federal Reserve Bank President Raphael Bostic stated that he felt the central bank should continue raising rates towards a neutral level, as the U.S. economy remained strong despite increasing uncertainties. The European currency traded 0.05 percent down at 1.1373, having touched a high of 1.1418 on Tuesday, its highest since Nov. 23. FxWirePro's Hourly Euro Strength Index stood at -36.99 (Neutral) by 0500 GMT. Investors’ attention will remain on German industrial production, EZ Q3 gross domestic product s.a., ahead of the U.S. nonfarm payrolls, unemployment rate, wholesale inventories, trade balance, consumer credit change, and speeches from Fed policymakers. Immediate resistance is located at 1.1401 (November 29 High), a break above targets 1.1433 (November 22 High). On the downside, support is seen at 1.1305 (November 30 Low), a break below could drag it till 1.1263 (November 26 Low).

USD/JPY: The dollar steadied after falling to an over 1-month low in the previous session, after the U.S. companies likely maintained a solid pace of employment in November while increasing wages for workers, indicating the economy remains strong enough for the Federal Reserve to continue hiking interest rates in 2019. The major was trading 0.2 percent up at 112.88, having hit a low of 112.23 on Thursday, its lowest since October 29. FxWirePro's Hourly Yen Strength Index stood at 46.53 (Neutral) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. nonfarm payrolls, unemployment rate, wholesale inventories, trade balance, consumer credit change, and speeches from Fed policymakers. Immediate resistance is located at 113.23 (November 22 High), a break above targets 113.50 (November 6 High). On the downside, support is seen at 112.42 (November 19 Low), a break below could take it lower 111.82 (October 25 Low).

GBP/USD: Sterling eased, halting a 2-day winning streak, amid growing concerns on how the British parliament votes on Prime Minister Theresa May's Brexit deal next week. The major traded 0.1 percent down at 1.2767, having hit a low of 1.2658 on Tuesday; it’s lowest since June 2017. FxWirePro's Hourly Sterling Strength Index stood at 112.94 (Highly Bullish) 0500 GMT. Investors’ attention will remain on developments surrounding Brexit deal, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2809 (November 30 High), a break above could take it near 1.2884 (November 19 High). On the downside, support is seen at 1.2725 (November 27 Low), a break below targets 1.2699 (December 6 Low). Against the euro, the pound was trading 0.1 percent down at 89.05 pence, having hit a low of 89.44 on Tuesday, it’s lowest since Nov. 19.

AUD/USD: The Australian dollar slumped, extending losses for the fourth straight session, as investors priced in a small chance of an interest rate cut following disappointing economic growth data yesterday, despite the Reserve Bank of Australia repeatedly stating that its rates will remain at historic lows for some time to come. The Aussie trades 0.1 percent down at 0.7229, having hit a low of 0.7191 on Thursday; it’s lowest since November 14. FxWirePro's Hourly Aussie Strength Index stood at -148.27 (Highly Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7199 (November 27 Low), a break below targets 0.7164 (November 13 Low). On the upside, resistance is located at 0.7268 (November 22 High), a break above could take it near 0.7325 (November 19 High).

NZD/USD: The New Zealand dollar steadied, after falling to a 1-week low in the previous session, as risk sentiment slightly improved across the board. The Kiwi trades 0.05 percent down at 0.6879, having touched a high of 0.6969 on Tuesday, its highest level June 15. FxWirePro's Hourly Kiwi Strength Index was at -30.37 (Neutral) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6976 (June 15 High), a break above could take it near 0.7023 (May 31 High). On the downside, support is seen at 0.6816 (November 9 Low), a break below could drag it below 0.6753 (November 27 Low).



Equities Recap

Asian shares rebounded as investor risk sentiment improved amid speculation the Federal Reserve might pause U.S. rate hikes after December meeting.

MSCI's broadest of Asia-Pacific shares outside Japan traded gained 0.4 percent.

Tokyo's Nikkei rose 0.7 percent to 21,653.05 points, Australia's S&P/ASX 200 index surged 0.4 percent to 5,681.50 points and South Korea's KOSPI rallied 0.5 percent to 2,078.80 points.

Shanghai composite index fell 0.2 percent to 2,601.91 points, while CSI300 index traded 0.1 percent down at 3,178.01 points.

Hong Kong’s Hang Seng traded 0.1 percent lower at 26,175.44 points. Taiwan shares added 0.8 percent to 9,760.80 points.



Commodities Recap

Crude Oil prices declined to an over 1 percent, weighed down by OPEC's decision to delay a final decision on output cuts, awaiting support from non-OPEC Russia. International benchmark Brent crude was trading 1.0 percent down at $59.63 per barrel by 0451 GMT, having hit a high of $63.56 on Tuesday, its highest since November 22. U.S. West Texas Intermediate was trading 0.9 percent down at $51.21 a barrel, after rising as high as $54.54 on Tuesday, its highest since the November 22.

Gold prices surged and were headed for their best week in 15, as investors awaited U.S. nonfarm payroll data for clues about the health of the labour market. Spot gold was 0.1 percent up at $1,239.80 per ounce by 0456 GMT, having touched a high of $1,244.22 on Thursday, its highest level since July 17. U.S. gold futures were up 0.1 percent at $1,244.6 per ounce.









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#396

Post by B0N3 » Mon Dec 10, 2018 8:02 pm

Asia Roundup:
Antipodeans rebound, greenback at 2-week lows as soft U.S. payroll report dents Fed tightening outlook; investors eye UK GDP –
Monday, December 10th, 2018







Market Roundup

U.S. says March 1 'hard deadline' for trade deal with China

Trump's top choice for chief of staff not taking job; other candidates in running

Huawei CFO seeks bail on health concerns; Canada wants her in jail

UK PM May presses on with Brexit vote as lawmakers demand better deal

Macron prepares response to 'yellow vest' protesters as Paris cleans up

China's Nov export, import growth shrinks, showing weak demand

China's November PPI up 2.7 pct y/y, CPI up 2.2 pct y/y

Australian home loans jump as RBA sticks to rate hike call

Japan Q3 GDP Rev QQ Annualised, -2.5%, -1.9% f'cast, -1.2% prev

Japan Q3 GDP Revised QQ, -0.6%, -0.5% f'cast, -0.3% prev

Japan Oct Current Account NSA JPY, 1,309.9 bln, 1,384.2 bln f'cast, 1,821.6 bln prev



Economic Data Ahead

(0200 ET/0700 GMT) Germany Oct Trade Balance, EUR, SA, 17.7 bln f’cast, 17.6 bln prev

(0430 ET/0930 GMT) Great Britain Oct GDP Estimate MM , 0.1% f’cast, 0.0% prev

(0430 ET/0930 GMT) Great Britain Oct GDP Estimate YY, 1.6% f’cast, 1.5% prev

(0430 ET/0930 GMT) Great Britain Oct Industrial Output YY, -0.2% f’cast, 0.0% prev

(0430 ET/0930 GMT) Great Britain Oct Manufacturing Output YY, 0.0% f’cast, 0.5% prev

(0430 ET/0930 GMT) Great Britain Oct Goods Trade Balance GBP, -10.50 bln f’cast, -9.73 bln prev

(0430 ET/0930 GMT) Great Britain Oct Goods Trade Bal. Non-EU, -3.15 bln f’cast, -2.34 bln prev

(0430 ET/0930 GMT) EZ Dec Sentix Index, 8.1 f’cast, 8.8 prev



Key Events Ahead

(0715 ET/1215 GMT) ECB's Ignazio Angeloni participates in a discussion organized by Official Monetary and Financial Institutions Forum, London



FX Beat

DXY: The dollar index slumped to an over 2-week low, as St. Louis Federal Reserve Bank President James Bullard repeated his call for the central bank to pause its current cycle of interest rate increases. The greenback against a basket of currencies trades 0.3 percent down at 96.46, having touched a low of 96.36, its lowest since Nov 22. FxWirePro's Hourly Dollar Strength Index stood at -11.66 (Neutral) by 0500 GMT.

EUR/USD: The euro rose to a 3-week peak, as the greenback eased after U.S. non-farm payrolls increased by 155,000 jobs last month, below a forecast of 200,000 jobs and the wage rise was softer than expected. The European currency traded 0.3 percent up at 1.1429, having touched a high of 1.1442, its highest since Nov. 20. FxWirePro's Hourly Euro Strength Index stood at 83.38 (Slightly Bullish) by 0500 GMT. Investors’ attention will remain on German current account and EZ Sentix investor confidence, ahead of the U.S. JOLTS openings. Immediate resistance is located at 1.1455 (November 2 High), a break above targets 1.1472 (November 20 High). On the downside, support is seen at 1.1348 (November 29 Low), a break below could drag it till 1.1305 (November 30 Low).

USD/JPY: The slumped to a near 1-1/2 month low, as disappointing U.S. jobs data stoked speculation that the Federal Reserve may stop raising interest rates sooner than expected. On Friday, Federal Reserve Governor Lael Brainard stated that the economic picture was broadly positive but that risks were growing overseas and in the U.S. corporate debt markets. The major was trading 0.2 percent down at 112.42, having hit a low of 112.23 earlier, its lowest since October 29. FxWirePro's Hourly Yen Strength Index stood at -24.42 (Neutral) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. JOLTS openings. Immediate resistance is located at 113.01 (November 23 High), a break above targets 113.23 (November 22 High). On the downside, support is seen at 112.08 (October 24 Low), a break below could take it lower 111.82 (October 25 Low).

GBP/USD: Sterling rebounded from a 4-day low, amid concerns whether May can secure a majority for her Brexit deal in a vote on December 11 that will define Britain's departure from the European Union scheduled for March. The major traded 0.2 percent up at 1.2749, having hit a low of 1.2701 earlier; it’s lowest since December 5. FxWirePro's Hourly Sterling Strength Index stood at -10.70 (Neutral) 0500 GMT. Investors’ attention will remain on UK industrial prod., manufacturing prod., trade balance, gross domestic product, and European Court of Justice ruling on Article 50, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2809 (November 30 High), a break above could take it near 1.2884 (November 19 High). On the downside, support is seen at 1.2671 (December 5 Low), a break below targets 1.2640. Against the euro, the pound was trading 0.3 percent down at 89.71 pence, having hit a low of 89.74, it’s lowest since September 25.

AUD/USD: The Australian dollar retreated from a near 1-month low on speculation the Federal Reserve might almost be done hiking rates. The Aussie trades 0.3 percent up at 0.7223, having hit a low of 0.7178; it’s lowest since November 13. FxWirePro's Hourly Aussie Strength Index stood at -85.69 (Slightly Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7164 (November 13 Low), a break below targets 0.7141 (September 17 Low). On the upside, resistance is located at 0.7268 (November 22 High), a break above could take it near 0.7325 (November 19 High).

NZD/USD: The New Zealand dollar bounced back after falling to an over 1-week low, as Fed policymakers struck a cautious tone about the economic outlook, possibly flagging a turning point in its monetary policy. The Kiwi trades 0.6 percent up at 0.6900, having touched a low of 0.6840, its lowest level Nov 29. FxWirePro's Hourly Kiwi Strength Index was at -111.02 (Highly Bearish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6976 (June 15 High), a break above could take it near 0.7023 (May 31 High). On the downside, support is seen at 0.6816 (November 9 Low), a break below could drag it below 0.6753 (November 27 Low).



Equities Recap

Asian shares slumped amid growing worries over slowing growth and concerns that tensions between Washington and Beijing could reduce the chances of a trade deal.

MSCI's broadest of Asia-Pacific shares outside Japan traded skidded 0.8 percent.

Tokyo's Nikkei declined 2.1 percent to 21,219.50 points, Australia's S&P/ASX 200 index plunged 2.3 percent to 5,552.50 points and South Korea's KOSPI eased 1.2 percent to 2,051.75 points.

Shanghai composite index fell 0.8 percent to 2,584.56 points, while CSI300 index traded 1.2 percent down at 3,146.52 points.

Hong Kong’s Hang Seng traded 1.4 percent lower at 25,705.12 points. Taiwan shares shed 1.2 percent to 9,647.54 points.



Commodities Recap

Crude Oil prices surged, extending previous session gains as producer cartel OPEC and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) from January. International benchmark Brent crude was trading 1.0 percent down at $61.97 per barrel by 0507 GMT, having hit a high of $63.67 on Friday, its highest since November 22. U.S. West Texas Intermediate was trading 0.6 percent up at $52.50 a barrel, after rising as high as $54.20 on Friday, its highest since the December 5.

Gold prices rose to a 5-month peak, supported by a disappointing U.S. jobs data that stoked speculation that the Federal Reserve may stop raising interest rates sooner than expected. Spot gold was trading 0.1 percent at $1,248.99 per ounce by 0513 GMT, having touched a high of $1,250.46 on Monday, its highest level since July 11. U.S. gold futures were up 0.2 percent at $1,254.6 per ounce.









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#397

Post by B0N3 » Tue Dec 11, 2018 6:46 pm

Asia Roundup:
Antipodeans rebound amid renewed U.S.-China trade talks, greenback slumps as U.S. Treasury yields plunge, Asian shares steady near 3-week low – Tuesday, December 11th, 2018







Market Roundup

China, U.S. discuss next stage of trade talks

Trump considering several candidates for chief of staff -sources

Brexit in turmoil as UK's May pulls vote to seek changes to EU divorce

UK MP Blunt sends letter of no confidence to '1922 Committee'-The Times

Japan keeps distance from FX as U.S automakers target yen manipulation

Canadian court weighs bail for jailed CFO of China's Huawei

To quell unrest, France's Macron speeds up tax cuts but vows no U-turn

Indian rupee, bonds slump after cenbank governor's resignation

Australia Nov NAB Business Conditions, 11, 12 prev

Australia Nov NAB Business Confidence, 3, 4 prev

Australia Q3 Home Price Index, -1.5%, -1.5% f'cast, -0.7% prev



Economic Data Ahead

(0430 ET/0930 GMT) Great Britain Oct ILO Unemployment Rate, 4.1% f'cast, 4.1% prev

(0430 ET/0930 GMT) Great Britain Oct Employment Change, 25k f'cast, 23k prev

(0500 ET/1000 GMT) Germany Dec ZEW Economic Sentiment, -25.0 f'cast, -24.1 prev

(0500 ET/1000 GMT) Germany DE Dec ZEW Current Conditions, 55.8 f'cast, 58.2 prev



Key Events Ahead

N/A WTO holds a one-day conference, with speeches from Director-General Roberto Azevedo and World Bank chief economist Penny Goldberg, Geneva

(0330 ET/0830 GMT) ECB's Luis de Guindos delivers his remarks at the European Statistical Forum, Frankfurt, Germany

(0430 ET/0930 GMT) BoE publishes Record of the Financial Policy Committee meeting held on November 28, 2018



FX Beat

DXY: The dollar index plunged, as the 10-year Treasury note yield eased to a 3-month low this week on dovish comments from Fed officials, while soft U.S. data further sharpened views on an imminent pause in the tightening cycle. The greenback against a basket of currencies trades 0.1 percent down at 97.11, having touched a low of 96.36 on Monday, its lowest since Nov 22. FxWirePro's Hourly Dollar Strength Index stood at 60.65 (Bearish) by 0500 GMT.

EUR/USD: The euro steadied after falling from a 3-week peak in the previous session on concerns over violent protests in France against President Emmanuel Macron's economic reform. The European currency traded 0.1 percent up at 1.1369, having touched a high of 1.1442 on Monday, its highest since Nov. 20. FxWirePro's Hourly Euro Strength Index stood at 27.38 (Neutral) by 0500 GMT. Investors’ attention will remain on EZ Survey- Economic Sentiment, ahead of the U.S. producer price index. Immediate resistance is located at 1.1401 (November 29 High), a break above targets 1.1455 (November 2 High). On the downside, support is seen at 1.1324 (November 26 Low), a break below could drag it till 1.1305 (November 30 Low).

USD/JPY: The dollar slumped, reversing most of its previous session gains, weighed down by concerns over Beijing's ongoing trade talks with the United States and deepening political turmoil over a Brexit deal. The major was trading 0.2 percent down at 113.11, having hit a low of 112.23 on Monday, its lowest since October 29. FxWirePro's Hourly Yen Strength Index stood at -24.42 (Neutral) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index. Immediate resistance is located at 113.66 (December 4 High), a break above targets 114.03 (November 28 High). On the downside, support is seen at 112.66 (October 23 Low), a break below could take it lower 112.08 (October 24 Low).

GBP/USD: Sterling edged up after falling to a 20-month low in the previous session as British Prime Minister Theresa May postponed a crucial vote on her Brexit deal, raising the risk of a disorderly exit from the European Union. The major traded 0.2 percent up at 1.2577, having hit a low of 1.2506 on Monday; it’s lowest since mid-April 2017. FxWirePro's Hourly Sterling Strength Index stood at -41.74 (Neutral) 0500 GMT. Investors’ attention will remain on UK labour data, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2600, a break above could take it near 1.2664. On the downside, support is seen at 1.2506 (December 10 Low), a break below targets 1.2460. Against the euro, the pound was trading 0.05 percent down at 90.38 pence, having hit a low of 90.87, it’s lowest since August 29.

AUD/USD: The Australian dollar rebounded, halting a 5-day losing streak as risk-sentiment slightly improved after China's Commerce Ministry stated that Vice Premier Liu He spoke with U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on trade matters. The Aussie trades 0.2 percent up at 0.7205, having hit a low of 0.7178 on Monday; it’s lowest since November 13. FxWirePro's Hourly Aussie Strength Index stood at -89.90 (Slightly Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7164 (November 13 Low), a break below targets 0.7141 (September 17 Low). On the upside, resistance is located at 0.7268 (November 22 High), a break above could take it near 0.7325 (November 19 High).

NZD/USD: The New Zealand dollar rose, extending previous session gains, as signs U.S. and Chinese officials were still talking on trade supported investor sentiment. The Kiwi trades 0.2 percent up at 0.6877, having touched a low of 0.6840 on Monday, its lowest level Nov 29. FxWirePro's Hourly Kiwi Strength Index was at -15.30 (Neutral) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6939 (December 3 High), a break above could take it near 0.6976 (June 15 High). On the downside, support is seen at 0.6816 (November 9 Low), a break below could drag it below 0.6753 (November 27 Low).



Equities Recap

Asian shares consolidated within narrow ranges, amid uncertainties over the prospects for a lasting resolution to a U.S.-China trade dispute and deepening political turmoil over a Brexit deal.

MSCI's broadest of Asia-Pacific shares outside Japan steadied near 3-week low.

Tokyo's Nikkei declined 0.2 percent to 21,180.51 points, Australia's S&P/ASX 200 index rallied 0.4 percent to 5,575.90 points and South Korea's KOSPI surged 0.1 percent to 2,056.50 points.

Shanghai composite index rose 0.1 percent to 2,586.35 points, while CSI300 index traded 0.1 percent up at 3,146.60 points.

Hong Kong’s Hang Seng traded 0.1 percent lower at 25,734.32 points. Taiwan shares added 0.6 percent to 9,707.04 points.



Commodities Recap

Crude Oil prices surged after Libya's National Oil Company declared force majeure on exports from the El Sharara oilfield, which was seized at the weekend by a local militia group. International benchmark Brent crude was trading 0.4 percent up at $60.07 per barrel by 0450 GMT, having hit a high of $63.67 on Friday, its highest since November 22. U.S. West Texas Intermediate was trading 0.4 percent up at $51.08 a barrel, after rising as high as $54.20 on Friday, its highest since the December 5.

Gold prices gained, supported by hopes that the U.S. Federal Reserve could pause its rate hike cycle sooner than previously expected. Spot gold was trading 0.2 percent down at $1,246.37 per ounce by 0456 GMT, having touched a high of $1,250.46 on Monday, its highest level since July 11. U.S. gold futures were little changed at $1,250.1 per ounce.









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#398

Post by B0N3 » Wed Dec 12, 2018 6:14 pm

Asia Roundup:
Antipodeans surge on optimism over U.S.-China trade deal, sterling steadies amid Brexit uncertainty, Asian shares advance –
Wednesday, December 12th, 2018







Market Roundup

Canada frees CFO of China's Huawei on bail; Trump might intervene

Trump says Fed shouldn't hike rates, but calls Powell 'a good man'

In heated on-camera clash, Trump fights with top Democrats on border wall

After Brexit vote delay, leadership challenge looms for May

Japan Nov Corp Goods Price YY, 2.3%, 2.4% f'cast, 2.9% prev

Japan Oct Machinery Orders YY, 4.5%, 5.9% f'cast, -7.0% prev

Australian consumers more confident on spending-survey



Economic Data Ahead

(0500 ET/1000 GMT) EZ Oct Industrial Production MM, 0.2% f'cast, -0.3% prev

(0500 ET/1000 GMT) EZ Oct Industrial Production YY, 0.7% f'cast, 0.9% prev



Key Events Ahead

(0830 ET/1330 GMT) ECB's Pentti Hakkarainen speaks at the inaugural meeting of the International Quality Network organized by the ECB in Frankfurt

(1155 ET/1655 GMT) German's Peter Altmaier speaks about the importance of sustainability for businesses and viniculture, Berlin



FX Beat

DXY: The dollar index eased after rallying to a 1-month peak in the prior session, as investors await the U.S. consumer price report later in the day, where an expected slowdown in headline inflation would reinforce speculation of fewer rate hikes from the Federal Reserve. The greenback against a basket of currencies trades 0.1 percent down at 97.40, having touched a low of 96.36 on Monday, its lowest since Nov 22. FxWirePro's Hourly Dollar Strength Index stood at 58.55 (Bullish) by 0400 GMT.

EUR/USD: The euro consolidated near a 2-week low touched in the previous session after the German government cut its economic growth forecast for 2018 as Economy Minister Peter Altmaier estimated an economic expansion of around 1.5 to 1.6 percent, below his previous prediction of 1.8 percent. The European currency traded 0.1 percent up at 1.1329, having touched a high of 1.1442 on Monday, its highest since Nov. 20. FxWirePro's Hourly Euro Strength Index stood at -46.64 (Neutral) by 0400 GMT. Investors’ attention will remain on EZ industrial production and EU's Juncker and Italy's Conte meet to discuss Italian budget, ahead of the U.S. consumer price index and monthly budget statement. Immediate resistance is located at 1.1401 (November 29 High), a break above targets 1.1455 (November 2 High). On the downside, support is seen at 1.1305 (November 30 Low), a break below could drag it till 1.1267 (November 28 Low).

USD/JPY: The dollar surged to a fresh 1-week peak, boosted by a rebound in U.S. government bond yields and on news that Beijing and Washington were discussing the next steps in their trade talks. The major was trading 0.1 percent down at 113.43, having hit a low of 112.23 on Monday, its lowest since October 29. FxWirePro's Hourly Yen Strength Index stood at -77.81 (Slightly Bearish) by 0400 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer price index and monthly budget statement. Immediate resistance is located at 113.66 (December 4 High), a break above targets 114.03 (November 28 High). On the downside, support is seen at 112.66 (October 23 Low), a break below could take it lower 112.08 (October 24 Low).

GBP/USD: Sterling steadied after plunging to a 20-month trough in the previous session in the wake of reports that Prime Minister Theresa May's Conservative Party had the 48 letters needed to trigger a no-confidence vote. The major traded 0.2 percent up at 1.2512, having hit a low of 1.2480 on Tuesday; it’s lowest since mid-April 2017. FxWirePro's Hourly Sterling Strength Index stood at -85.05 (Slightly Bearish) 0500 GMT. Investors’ attention will remain on the U.S. fundamental drivers, amid a lack of economic data from the UK docket. Immediate resistance is located at 1.2600, a break above could take it near 1.2664. On the downside, support is seen at 1.2460, a break below targets 1.2405. Against the euro, the pound was trading 0.1 percent up at 90.55 pence, having hit a low of 90.87 on Monday, it’s lowest since August 29.

AUD/USD: The Australian dollar rose, extending previous session gains, as U.S. President Donald Trump sounded upbeat about a trade deal with China. The Aussie trades 0.1 percent up at 0.7210, having hit a low of 0.7178 on Monday; it’s lowest since November 13. FxWirePro's Hourly Aussie Strength Index stood at 132.68 (Highly Bearish) by 0400 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7164 (November 13 Low), a break below targets 0.7141 (September 17 Low). On the upside, resistance is located at 0.7268 (November 22 High), a break above could take it near 0.7325 (November 19 High).

NZD/USD: The New Zealand dollar edged higher, on increasing hopes that long-running U.S.-China trade tensions could ease. The Kiwi trades 0.1 percent up at 0.6879, having touched a low of 0.6840 on Monday, its lowest level Nov 29. FxWirePro's Hourly Kiwi Strength Index was at 112.08 (Highly Bullish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6939 (December 3 High), a break above could take it near 0.6976 (June 15 High). On the downside, support is seen at 0.6816 (November 9 Low), a break below could drag it below 0.6753 (November 27 Low).



Equities Recap

Asian shares advanced as U.S. President Donald Trump sounded optimistic about a trade deal with China.

MSCI's broadest of Asia-Pacific shares outside Japan rose 0.1 percent.

Tokyo's Nikkei surged 2.2 percent to 21,602.75 points, Australia's S&P/ASX 200 index rallied 1.4 percent to 5,653.50 points and South Korea's KOSPI gained 1.2 percent to 2,084.77 points.

Shanghai composite index rose 0.3 percent to 2,602.67 points, while CSI300 index traded 0.4 percent up at 3,170.92 points.

Hong Kong’s Hang Seng traded 1.8 percent higher at 26,207.02 points. Taiwan shares added 1.4 percent to 9,816.45 points.



Commodities Recap

Crude Oil prices surged, boosted by expectations that an OPEC-led supply cut announced last week for 2019 would stabilise markets. International benchmark Brent crude was trading 0.6 percent up at $60.81 per barrel by 0439 GMT, having hit a high of $63.67 on Friday, its highest since November 22. U.S. West Texas Intermediate was trading 0.7 percent up at $52.26 a barrel, after rising as high as $54.20 on Friday, its highest since the December 5.

Gold prices gained, halting a 2-day losing streak, supported by expectations of fewer rate hikes by the U.S. Federal Reserve next year. Spot gold rose 0.2 percent to $1,244.27 per ounce, as of 0450 GMT, having touched a high of $1,250.46 on Monday, its highest level since July 11. U.S. gold futures rose 0.2 percent to $1,249.9 per ounce.









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#399

Post by B0N3 » Thu Dec 13, 2018 6:43 pm

Asia Roundup:
Kiwi steadies following NZ Treasury's growth forecast, dollar gains as U.S. Treasury yields surge, Asian shares rally –
Thursday, December 13th, 2018







Market Roundup

British PM May survives party confidence vote but Brexit deal still teetering

Brexit worries push UK house price gauge to six-year low – RICS

Trump ex-lawyer Cohen given 3 years in prison as risks rise for Trump

U.S. Rep. Meadows out of running for White House chief of staff -officials

ECB worries multiply even as money-printing presses stop

Trump intervention comment may be gift to Huawei CFO

Chinese state media urges Canada to defy U.S., free Huawei exec

Canada warns U.S. not to politicize extradition cases

New Zealand's Treasury flags smaller 2019 budget surplus, trims growth forecasts



Economic Data Ahead

(0200 ET/0700 GMT) Germany Nov CPI Final YY, 2.3% f'cast, 2.3% prev

(0200 ET/0700 GMT) Germany Nov HICP Final YY, 2.2% f'cast, 2.2% prev

(0745 ET/1245 GMT) EZ Dec ECB Refinancing Rate, 0.00% f'cast, 0.00% prev

(0745 ET/1245 GMT) EZ Dec ECB Deposit Rate, -0.40% f'cast, -0.40% prev



Key Events Ahead

(0745 ET/1245 GMT) ECB Governing Council meeting, followed by interest rate announcement, Frankfurt

(0830 ET/1330 GMT) ECB President Mario Draghi and Vice President Luis de Guindos to hold news conference, Frankfurt



FX Beat

DXY: The dollar index rallied as the U.S. Treasury yields rebounded from recent lows. The greenback against a basket of currencies trades 0.1 percent up at 97.10, having touched a low of 96.36 on Monday, its lowest since Nov 22. FxWirePro's Hourly Dollar Strength Index stood at 44.17 (Neutral) by 0400 GMT.

EUR/USD: The euro consolidated within narrow ranges, as investors turned cautious ahead of a closely-watched policy meeting by the European Central Bank later in the day. The ECB is all but certain to formally end its bond purchase scheme, however, it will take a cautious view on growth. The European currency traded flat at 1.1367, having touched a high of 1.1442 on Monday, its highest since Nov. 20. FxWirePro's Hourly Euro Strength Index stood at 8.37 (Neutral) by 0400 GMT. Investors’ attention will remain on ECB interest rate decision, ahead of the U.S. unemployment benefits claims; and import and export price index. Immediate resistance is located at 1.1401 (November 29 High), a break above targets 1.1455 (November 2 High). On the downside, support is seen at 1.1305 (November 30 Low), a break below could drag it till 1.1267 (November 28 Low).

USD/JPY: The dollar surged, reversing most of its previous session losses, as the U.S. Treasury yields continued to gain after steep declines as risk sentiment improved. The major was trading 0.2 percent up at 113.46, having hit a high of 113.52 on Wednesday, its highest since December 4. FxWirePro's Hourly Yen Strength Index stood at -60.30 (Bearish) by 0400 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefits claims; and import and export price index. Immediate resistance is located at 113.66 (December 4 High), a break above targets 114.03 (November 28 High). On the downside, support is seen at 112.66 (October 23 Low), a break below could take it lower 112.08 (October 24 Low).

GBP/USD: Sterling eased after rebounding from a 20-month trough in the previous session, as British Prime Minister Theresa May pulled through a no-confidence vote on her leadership. The major traded 0.1 percent down at 1.2619, having hit a low of 1.2480 on Tuesday; it’s lowest since mid-April 2017. FxWirePro's Hourly Sterling Strength Index stood at -43.93 (Neutral) 0400 GMT. Investors’ attention will remain on the U.S. fundamental drivers, amid a lack of economic data from the UK docket. Immediate resistance is located at 1.2700, a break above could take it near 1.2754. On the downside, support is seen at 1.2560, a break below targets 1.2515. Against the euro, the pound was trading 0.1 percent down at 90.08 pence, having hit a low of 90.87 on Monday, it’s lowest since August 29.

AUD/USD: The Australian dollar rose, extending gains for the third straight session, amid signs of progress in U.S.-China trade relations. The Aussie trades 0.2 percent up at 0.7228, having hit a low of 0.7178 on Monday; it’s lowest since November 13. FxWirePro's Hourly Aussie Strength Index stood at 100.29 (Highly Bearish) by 0400 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7164 (November 13 Low), a break below targets 0.7141 (September 17 Low). On the upside, resistance is located at 0.7268 (November 22 High), a break above could take it near 0.7325 (November 19 High).

NZD/USD: The New Zealand dollar edged higher after falling to a 2-week low in the prior session after the New Zealand Treasury trimmed the growth forecast for 2019 and flagged a smaller surplus as it cautioned of risks to the economy from global trade wars and slowing immigration. The Kiwi trades 0.1 percent up at 0.6864, having touched a low of 0.6824 on Wednesday, its lowest level Nov 28. FxWirePro's Hourly Kiwi Strength Index was at -5.19 (Neutral) by 0400 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6939 (December 3 High), a break above could take it near 0.6976 (June 15 High). On the downside, support is seen at 0.6816 (November 9 Low), a break below could drag it below 0.6753 (November 27 Low).



Equities Recap

Asian shares rallied as China appeared to be taking more steps to meet U.S. demands to open its markets.

MSCI's broadest of Asia-Pacific shares outside Japan rose 0.1 percent.

Tokyo's Nikkei surged 0.9 percent to 21,815.31 points, Australia's S&P/ASX 200 index rallied 0.1 percent to 5,661.60 points and South Korea's KOSPI gained 0.9 percent to 2,100.39 points.

Shanghai composite index rose 1.3 percent to 2,636.57 points, while CSI300 index traded 1.6 percent up at 3,221.95 points.

Hong Kong’s Hang Seng traded 1.0 percent higher at 26,448.18 points. Taiwan shares added 0.4 percent to 9,858.76 points.



Commodities Recap

Crude Oil prices surged, supported by a decline in U.S. crude inventories and signs that China is taking more concrete steps to put a trade war truce with Washington into action. International benchmark Brent crude was trading 0.4 percent up at $60.42 per barrel by 0422 GMT, having hit a high of $63.67 on Friday, its highest since November 22. U.S. West Texas Intermediate was trading 0.3 percent up at $51.30 a barrel, after rising as high as $54.20 on Friday, its highest since the December 5.

Gold prices declined, as the dollar steadied amid optimism for progress in Chinese-U.S. trade talks. Spot gold was 0.1 percent down at $1,244.22 per ounce, as of 0425 GMT, having touched a high of $1,250.46 on Monday, its highest level since July 11. U.S. gold futures were little changed at $1,249.5 per ounce.









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