FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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Re: FirewoodFX - Market News

#551

Post by B0N3 » Wed Aug 28, 2019 7:38 pm

Asia Roundup:
Kiwi at multi-year lows on recession worries, yen steadies as yield curve inversion deepens, Asian shares tumble –
Wednesday, August 28th, 2019






Market Roundup

Yen steadies as yield curve inversion deepens

Gold holds near six-year high on economic gloom

Oil rises following a drop in U.S. inventories



Economic Data Ahead

(0400 ET/0800 GMT) EZ Private Loans YoY July

(0400 ET/0800 GMT) EZ Money Supply 3m July

(0400 ET/0800 GMT) EZ Money Supply YoY July



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY:
The dollar index edged higher, as 10-year Treasury yields fell faster than 2-year yields deepening the inversion between the two. The greenback against a basket of currencies traded 0.05 percent up at 98.06, having touched a low of 97.17 on Friday, its lowest since August 9.

EUR/USD: The euro declined, extending losses for the third straight session, as Germany’s economy contracted on weaker exports in the second quarter, due to escalating trade disputes and waning foreign demand. The European currency traded 0.05 percent down at 1.1084, having touched a high of 1.1163 on Monday, its highest since August 14. Investors’ attention will remain on EZM3 money supply, ahead of the speeches by Fed's Barkin and Daly. Immediate resistance is located at 1.1119 (38.2% retracement of 1.1230 and 1.1051), a break above targets 1.1162 (61.8% retracement). On the downside, support is seen at 1.1065 (August 20 Low), a break below could drag it below 1.1030.

USD/JPY: The dollar slightly nudged up, reversing some of its previous session losses, as markets continue to fear a global slowdown and the ramifications of a protracted trade dispute between the U.S. and China. The major was trading 0.1 percent up at 105.85, having hit a low of 104.44 on Monday, its lowest since November 2016. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. housing price index and consumer confidence. Immediate resistance is located at 106.43 (21-DMA), a break above targets 107.09 (August 6 High). On the downside, support is seen at 105.26 (August 9 Low), a break below could take it lower at 105.05 (August 12 Low).

GBP/USD: Sterling eased after rising to a 4-week peak in the previous session on news that Britain's opposition Labour Party leader, Jeremy Corbyn, said he would do everything necessary to prevent Britain leaving the European Union without a transition deal on October 31. The major traded 0.1 percent down at 1.2278, having hit a high of 1.2309 on Tuesday, it’s highest since July 29. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2331 (61.8% retracement of 1.2522 and 1.2079), a break above could take it near 1.2417 (78.6% retracement). On the downside, support is seen at 1.2231 (5-DMA), a break below targets 1.2172 (10-DMA). Against the euro, the pound was trading 0.1 percent down at 90.27 pence, having hit a high of 90.16 on Tuesday, it’s highest since July 29.

AUD/USD: The Australian dollar eased, extending previous session losses, as fears of global economic slowdown and trade war weighed on market sentiment. The Aussie trades 0.2 percent down at 0.6737, having hit a low of 0.6689 on Monday, it’s lowest since August 7. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6677 (August 7 Low), a break below targets 0.6630. On the upside, resistance is located at 0.6799 (August 2 1 High), a break above could take it near 0.6822 (August 8 High).

NZD/USD: The Zealand dollar plunged to multi-year lows, as renewed caution about resolving the U.S.-China trade war drove investors to safe-haven assets. The Kiwi trades 0.5 percent down at 0.6329, having touched a low of 0.6326 earlier, its lowest level September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6403 (10-DMA), a break above could take it near 0.6458 (21-DMA). On the downside, support is seen at 0.6315, a break below could drag it below 0.6275.



Equities Recap

Asian shares
tumbled as deeper worries about the global economy and trade dented investor sentiment.

MSCI's broadest of Asia-Pacific shares outside Japan eased 0.06 percent

Tokyo's Nikkei declined 0.2 percent to 20,491.41 points, Australia's S&P/ASX 200 index rallied 0.4 percent to 6,497.80 points and South Korea's KOSPI gained 0.7 percent to 1,938.74 points.

Hong Kong’s Hang Seng traded 0.1 percent higher at 25,687.38 points. Taiwan shares added 0.5 percent to 10,434.29 points.

Shanghai Composite Index fell 0.2 percent to 2,897.97 points, while CSI 300 index traded 0.2 percent down at 3,810.68 points.



Commodities Recap

Crude Oil prices eased, weighed down by concerns about global growth amid the raging trade war between the United States and China. International benchmark Brent crude was trading 0.4 percent lower at $59.90 per barrel by 0428 GMT, having hit a low of $58.29 on Friday, its lowest since August 16. U.S. West Texas Intermediate was trading 0.4 percent down at $55.43 a barrel, after falling as low as $52.95 on Monday, its lowest since August 9.

Gold declined, hovering away from a more than 6-year high hit earlier in the week on fears of an economic slowdown amid a protracted Sino-U.S. trade conflict. Spot gold was trading 0.4 percent down at $1,535.85 per ounce by 0431 GMT, having touched a high of $1,555.10 on Monday, its highest since August 2013. U.S. gold futures inched up 0.1 percent to $1,553.30 an ounce.



Treasuries Recap

The Australian government bonds jumped during Asian session Wednesday amid turmoil of ongoing risks of trade war while the U.S. Treasury yield curve continued inversion, indicating red signals of plausible recession. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slumped nearly 3-1/2 basis points to 0.884 percent, the yield on the long-term 30-year bond plunged 6 basis points to 1.489 percent and the yield on short-term 2-year slipped 1-1/2 basis points to 0.724 percent.







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#552

Post by B0N3 » Thu Aug 29, 2019 11:24 pm

Asia Roundup:
Kiwi at multi-year low as business confidence deteriorates, yen gains against dollar on recession fears, Asian shares plunge –
Thursday, August 29th, 2019






Market Roundup

ECB should be ready to disappoint markets sometimes: Nowotny

Oil prices ease amid mounting concern over U.S. economy

Gold prices gains on recession fears, trade uncertainty

New Zealand's ANZ Activity Outlook and ANZ Business Confidence slump



Economic Data Ahead

(0355 ET/0755 GMT) German unemployment change August

(0355 ET/0755 GMT) German unemployment rate s.a. August

(0400 ET/0800 GMT) Italy industrial sales s.a. MoM June

(0400 ET/0800 GMT) Italy industrial sales n.s.a. YoY June

(0400 ET/0800 GMT) Italy industrial orders s.a. MoM June

(0400 ET/0800 GMT) Italy industrial orders n.s.a. YoY June

(0400 ET/0800 GMT) Italy producer price index MoM July

(0400 ET/0800 GMT) Italy producer price index YoY July

(0400 ET/0800 GMT) Eurozone service sentiment August

(0400 ET/0800 GMT) Eurozone consumer confidence August

(0400 ET/0800 GMT) Eurozone industrial confidence August

(0400 ET/0800 GMT) Eurozone business climate August

(0400 ET/0800 GMT) Eurozone economic sentiment indicator August



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index rose, extending previous session gains after U.S. Treasury Secretary Steven Mnuchin said he has no intention of intervening in the dollar right now, according to Bloomberg. The greenback against a basket of currencies traded 0.05 percent up at 98.23, having touched a low of 97.17 on Friday, its lowest since August 9.

EUR/USD: The euro rose, hating a 3-day losing streak, as the ECB has all but promised a stimulus package for its September 12 policy meeting. Investors now price in several rate cuts for the coming year and a fresh round of bond purchases. The European currency traded 0.05 percent up at 1.1082, having touched a high of 1.1163 on Monday, its highest since August 14. Investors’ attention will remain on Eurozone economic sentiment indicator and German prelim consumer price index, ahead of the U.S. unemployment benefit claims, preliminary gross domestic product, flash wholesale inventories, goods trade balance, prelim personal consumption expenditure and pending home sales. Immediate resistance is located at 1.1119 (38.2% retracement of 1.1230 and 1.1051), a break above targets 1.1162 (61.8% retracement). On the downside, support is seen at 1.1065 (August 20 Low), a break below could drag it below 1.1030.

USD/JPY: The dollar declined against the safe-haven Japanese yen as the U.S. Treasury yield curve remains inverted, which is considered a sign of an impending recession. The yields on 30-year Treasuries have hit a record low as investors rushed for the safety of government debt. The major was trading 0.2 percent down at 105.90, having hit a low of 104.44 on Monday, its lowest since November 2016. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims, preliminary gross domestic product, flash wholesale inventories, goods trade balance, prelim personal consumption expenditure and pending home sales. Immediate resistance is located at 106.22 (21-DMA), a break above targets 107.09 (August 6 High). On the downside, support is seen at 105.26 (August 9 Low), a break below could take it lower at 105.05 (August 12 Low).

GBP/USD: Sterling consolidated within narrow ranges after tumbling to a near 1-week low in the previous session, as the suspension of UK parliament limited the time opponents have to derail a disorderly Brexit, but also increases the chance that Johnson could face a vote of no-confidence in his government. The major traded flat at 1.2209, having hit a high of 1.2309 on Tuesday, it’s highest since July 29. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2273 (August 22 High), a break above could take it near 1.2309 (August 27 High)). On the downside, support is seen at 1.2147 (21-DMA), a break below targets 1.2108 (August 22 Low)). Against the euro, the pound was trading 0.1 percent down at 90.81 pence, having hit a high of 90.16 on Tuesday, it’s highest since July 29.

AUD/USD: The Australian dollar fell, extending losses for the third straight session, weighed down by a surprise negative release of Construction Work Done during the second quarter. The Aussie trades 0.2 percent down at 0.6717, having hit a low of 0.6689 on Monday, it’s lowest since August 7. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6677 (August 7 Low), a break below targets 0.6630. On the upside, resistance is located at 0.6799 (August 2 1 High), a break above could take it near 0.6822 (August 8 High).

NZD/USD: The New Zealand dollar plunged to a fresh multi-year low after the country's ANZ Activity Outlook and ANZ Business Confidence slumped. The Kiwi trades 0.3 percent down at 0.6319, having touched a low of 0.6306 earlier, its lowest level September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6368 (5-DMA), a break above could take it near 0.6409 (August 23 Low). On the downside, support is seen at 0.6275, a break below could drag it below 0.6240.



Equities Recap

Asian shares
slumped as global recession worries from intensifying U.S.-China trade dispute and the spectre of a no-deal Brexit drove investors to safe-haven assets.

MSCI's broadest of Asia-Pacific shares outside Japan eased 0.2 percent

Tokyo's Nikkei declined 0.9 percent to 20,460.93 points, Australia's S&P/ASX 200 index rallied 0.1 percent to 6,507.40 points and South Korea's KOSPI eased 0.4 percent to 1,933.41 points.

Hong Kong’s Hang Seng traded 0.4 percent lower at 25,516.76 points. Taiwan shares added 0.3 percent to 10,462.43 points.

Shanghai Composite Index 0.1 percent to 2,890.92 points, while CSI 300 index traded 0.3 percent down at 3,790.19 points.



Commodities Recap

Crude Oil prices declined for the first time in two days after San Francisco Federal Reserve President Mary Daly sounded a note of concern about the strength of U.S. economy. International benchmark Brent crude was trading 0.5 percent lower at $60.13 per barrel by 0630 GMT, having hit a low of $58.29 on Friday, its lowest since August 16. U.S. West Texas Intermediate was trading 0.6 percent down at $55.58 a barrel, after falling as low as $52.95 on Monday, its lowest since August 9.

Gold prices edged higher against the backdrop of recession fears, with traders tracking signs of progress on the U.S.-China trade talks and global central banks for direction on interest rates. Spot gold rose 0.3 percent to $1,546.16 per ounce by 0632 GMT, having touched a high of $1,555.10 on Monday, its highest since August 2013. U.S. gold futures were up 0.2 percent at $1,552.40 an ounce.


Treasuries Recap

The Japanese government bond yields slipped to fresh three-year lows amid persisting global recession concerns. The 30-year yield was down 1 basis point at 0.150 percent, its lowest since July 2016. The 10-year JGB yield was down 1 basis point at minus 0.280 percent after falling to minus 0.285 percent the previous day, its lowest since July 2016.

The Australian government bonds rallied during the Asian session after the U.S. Treasury yield closed near-record-low following bulk hedging by investors against riskier assets such as oil and equities. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, edged nearly 1 basis point higher to 0.882 percent, the yield on the long-term 30-year bond surged 1-1/2 basis points to 1.485 percent and the yield on short-term 2-year remained flat at 0.726 percent.







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#553

Post by B0N3 » Fri Aug 30, 2019 8:49 pm

Asia Roundup:
Antipodeans near multi-year lows as U.S. tariffs on Chinese goods takes effect this weekend, greenback gains as trade tensions ease, Asian shares at 1-week peak –Friday, August 30th, 2019





Market Roundup

Greenback near 4-week high

Oil set for biggest weekly gain since July

Gold prices inch down on positive signs for trade talks

Euro eases on ECB stimulus hope



Economic Data Ahead

(0400 ET/0800 GMT) Italy Unemployment July

(0430 ET/0830 GMT) UK net lending to individuals MoM July

(0430 ET/0830 GMT) UK consumer credit July

(0430 ET/0830 GMT) UK mortgage approvals July

(0430 ET/0830 GMT) UK M4 money supply MoM July

(0430 ET/0830 GMT) UK M4 money supply YoY July

(0500 ET/0900 GMT) Italy prelim consumer price index MoM August

(0500 ET/0900 GMT) Italy prelim consumer price index YoY August

(0500 ET/0900 GMT) EZ unemployment rate July

(0500 ET/0900 GMT) EZ consumer price index YoY August

(0500 ET/0900 GMT) EZ consumer price index- Core YoY August

(0600 ET/1000 GMT) Italy gross domestic product YoY Q2

(0600 ET/1000 GMT) Italy gross domestic product QoQ Q2



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY:
The dollar index rallied to a 1-month peak as news Washington and Beijing were discussing negotiations in September eased anxieties about the ongoing trade war. The greenback against a basket of currencies traded 0.1 percent up at 98.56, having touched a high of 98.57 earlier, its highest since August 1..

EUR/USD: The euro plunged to a 1-month low, weighed down by a sluggish eurozone economy and likely monetary easing from the European Central Bank next month. Data released yesterday showed, German inflation slowed in August and unemployment rose, adding to signs that the German economy is running out of steam and cementing expectations of a new ECB stimulus package next month. The European currency traded 0.1 percent down at 1.1045, having touched a low of 1.1142 earlier, its lowest since August 1. Investors’ attention will remain on Eurozone preliminary consumer price index, ahead of the U.S. personal consumption expenditure – price index. Immediate resistance is located at 1.1071 (23.6% retracement of 1.1163 and 1.1042), a break above targets 1.1102 (50% retracement). On the downside, support is seen at 1.1030, a break below could drag it below 1.1000.

USD/JPY: The dollar declined, halting a 2-day rally, on reports that the U.S. economy slowed slightly more than expected in the second quarter, despite the strongest growth in consumer spending in 4-1/2 years. The major was trading 0.2 percent down at 106.34, having hit a low of 104.44 on Monday, its lowest since November 2016. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. personal consumption expenditure – price index. Immediate resistance is located at 106.73 (August 23 High), a break above targets 107.09 (August 6 High). On the downside, support is seen at 105.65 (August 28 Low), a break below could take it lower at 105.26 (August 9 Low).

GBP/USD: Sterling steadied after falling for two straight sessions, as British Prime Minister Boris Johnson suspended parliament for more than a month to avoid a possible no-confidence vote and take Britain out of the European Union on the Oct. 31 deadline. The major traded flat at 1.2184, having hit a high of 1.2309 on Tuesday, it’s highest since July 29. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2234 (5-DMA), a break above could take it near 1.2273 (August 22 High). On the downside, support is seen at 1.2148 (21-DMA), a break below targets 1.2108 (August 22 Low). Against the euro, the pound was trading 0.2 percent down at 90.62 pence, having hit a high of 90.16 on Tuesday, it’s highest since July 29.

AUD/USD: The Australian dollar slumped, extending losses for the fourth consecutive session, as Washington is due to start imposing 15 percent tariffs on $125billion worth of goods from China on Sunday, affecting a number of consumer items. The Aussie trades 0.2 percent down at 0.6713, having hit a low of 0.6689 on Monday, it’s lowest since August 7. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6677 (August 7 Low), a break below targets 0.6630. On the upside, resistance is located at 0.6799 (August 2 1 High), a break above could take it near 0.6822 (August 8 High).

NZD/USD: The New Zealand dollar tumbled to fresh 4-year low as investors fear the intensifying trade dispute could lead the U.S. economy into a recession. The Kiwi trades 0.2 percent down at 0.6296, having touched a low of 0.6289 earlier, its lowest level September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6357 (5-DMA), a break above could take it near 0.6409 (August 23 Low). On the downside, support is seen at 0.6270, a break below could drag it below 0.6240.



Equities Recap

Asian shares
rallied to a 1-week high as the United States and China returned to the negotiating table to resolve their tariff dispute.

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

Tokyo's Nikkei Nikkei surged 1.2 percent to 20,704.37 points, Australia's S&P/ASX 200 index rallied 1.5 percent to 6,604.20 points and South Korea's KOSPI rose 1.8 percent to 1,967.59 points.

Hong Kong’s Hang Seng traded 0.3 percent lower at 25,620.39 points. Taiwan shares added 1.5 percent to 10,618.05 points.

Shanghai Composite Index fell 0.2 percent to 2,885.96 points, while CSI 300 index traded 0.2 percent up at 3,797.91 points.



Commodities Recap

Crude Oil declined but were set for their biggest weekly gains since early July, boosted by a fall in U.S inventories and a looming hurricane in Florida. International benchmark Brent crude was trading 0.7 percent lower at $60.49 per barrel by 0559 GMT, having hit a low of $58.29 last week, its lowest since August 16. U.S. West Texas Intermediate was trading 0.3 percent down at $56.43 a barrel, after falling as low as $52.95 on Monday, its lowest since August 9.

Gold prices eased and were on track for a small weekly loss as United States and China indicated they may resume talks to resolve their protracted trade conflict. Spot gold fell 0.2 percent to $1,525.06 per ounce by 0602 GMT, having touched a high of $1,555.10 on Monday, its highest since August 2013 but is heading for a mild loss of 0.1 percent, following four weeks of gains. U.S. gold futures were also down 0.2 percent at $1,534.50 an ounce.



Treasuries Recap

The Japanese government bond yields pulled back from three-year lows as investor appetite for risk assets returned. The five-year JGB yield nudged up half a basis point to minus 0.355 percent, moving away from a three-year trough of minus 0.365 percent hit midweek. The benchmark 10-year JGB yield was 1 basis point higher at minus 0.280 percent, after stooping to minus 0.290 percent the previous day, its lowest since July 2016.

The Australian government bonds suffered during Asian session tracking a similar movement in the U.S. Treasuries after a 7-year auction failed to draw sufficient investor demand amid signs of easing trade tensions between the U.S. and China. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, edged 1-1/2 basis points higher to 0.889 percent, the yield on the long-term 30-year bond rose 1 basis point to 1.479 percent while the yield on short-term 2-year remained flat at 0.724 percent.








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#554

Post by B0N3 » Mon Sep 02, 2019 8:44 pm

Asia Roundup:
Antipodeans steady on better-than-expected Chinese manufacturing activity, yen rallies as U.S.-China tariffs add to growth risks, Asian shares consolidate –Monday, September 2nd, 2019





Market Roundup

Oil falls as U.S., China add more tariffs in trade dispute

Gold gains as new U.S.-China tariffs add to growth risks

Yen rises, yuan pares losses

The Caixin/Markit factory PMI was 50.4 in August



Economic Data Ahead

(0345 ET/0745 GMT) Italy Markit Manufacturing PMI (August)

(0350 ET/0750 GMT) France Markit Manufacturing PMI (August)

(0355 ET/0755 GMT) Germany Markit Manufacturing PMI (August)

(0400 ET/0800 GMT) EZ Markit Manufacturing PMI (August)

(0430 ET/0830 GMT) UK Markit Manufacturing PMI (August)



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index rose, hovering towards an over 2-year peak hit in the previous session after U.S. President Donald Trump said Washington and Beijing would still meet for talks later this month. The greenback against a basket of currencies traded 0.1 percent up at 98.87, having touched a high of 99.02 on Friday, its highest since May 2017.

EUR/USD: The euro consolidated near its lowest levels in more than two years recorded in the previous session on expectations that the European Central Bank will cut interest rates at its next monetary policy meeting on September 12. The European currency traded 0.1 percent down at 1.0989, having touched a low of 1.0963 earlier, its lowest since May 2017. Investors’ attention will remain on a series of Markit PMI's out of Eurozone economies, as the U.S. markets remain closed on account of labour day. Immediate resistance is located at 1.1010 (23.6% retracement of 1.1163 and 1.0963), a break above targets 1.1039 (38.2% retracement). On the downside, support is seen at 1.0970, a break below could drag it below 1.0900.

USD/JPY: The dollar declined, extending previous session losses, after the United States and China launched fresh tariffs on each other’s goods, escalating prolonged trade war and heightening fears over a global downturn. Washington began imposing 15 percent tariffs on a variety of Chinese goods on Sunday, as Beijing began imposing new duties on U.S. crude. The major was trading 0.05 percent down at 106.19, having hit a low of 104.44 last week, its lowest since November 2016. Investors’ will continue to track the broad-based market sentiment, as the U.S. markets remain closed for the Labor Day Holiday. Immediate resistance is located at 106.73 (August 23 High), a break above targets 107.09 (August 6 High). On the downside, support is seen at 105.65 (August 28 Low), a break below could take it lower at 105.26 (August 9 Low).

GBP/USD: Sterling retreated from a 10-day low as investors braced for a tense opening to the British parliament this week. Last week, the opposition Labour Party stated that it would trigger an emergency parliamentary debate this week to try to stop Johnson taking Britain out of the European Union without a withdrawal deal. The major traded flat at 1.2164, having hit a low of 1.2139 earlier, it’s lowest since August 22. Investors’ attention will remain on the development surrounding Brexit, amid a lack of data from the U.S. docket. Immediate resistance is located at 1.2210 (5-DMA), a break above could take it near 1.2273 (August 22 High). On the downside, support is seen at 1.2108 (August 22 Low), a break below targets 1.2064 (August 20 Low). Against the euro, the pound was trading flat at 90.31 pence, having hit a high of 90.16 on Tuesday, it’s highest since July 29.

AUD/USD: The Australian dollar steadied after China’s factory activity unexpectedly expanded in August as production edged up. The Caixin/Markit factory Purchasing Managers’ Index rose to 50.4 in August, better than the 49.8 estimates and 49.9 in July. The Aussie trades 0.05 percent up at 0.6731, having hit a low of 0.6689 last week, it’s lowest since August 7. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6677 (August 7 Low), a break below targets 0.6630. On the upside, resistance is located at 0.6799 (August 2 1 High), a break above could take it near 0.6822 (August 8 High).

NZD/USD: The New Zealand dollar consolidated near a 4-year low after China’s State Council announced more measures to support its economy on Sunday. The Kiwi trades 0.05 percent up at 0.6303, having touched a low of 0.6289 on Friday, its lowest level September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6340 (5-DMA), a break above could take it near 0.6409 (August 23 Low). On the downside, support is seen at 0.6265, a break below could drag it below 0.6210.



Equities Recap

Asian shares
traded in a mixed session as the latest round of U.S. and China tariffs came into effect over the weekend, while investors digested better-than-expected Chinese manufacturing activity.

MSCI's broadest of Asia-Pacific shares outside Japan traded flat.

Tokyo's Nikkei fell 0.4 percent to 20,620.19 points, Australia's S&P/ASX 200 index declined 0.4 percent to 6,579.40 points and South Korea's KOSPI rose 0.1 percent to 1,969.19 points.

Hong Kong’s Hang Seng rose 1.3 percent to 2,924.11 points, while CSI 300 index traded 1.2 percent up at 3,848.32 points.

Shanghai Composite Index rose 1.4 percent to 2,904.05 points, while CSI 300 index traded 1.5 percent up at 3,822.02 points.



Commodities Recap

Crude Oil prices steadied despite new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude. International benchmark Brent crude was trading 0.4 percent lower at $59.10 per barrel by 0606 GMT, having hit a low of $58.88 on Friday, its lowest since August 27. U.S. West Texas Intermediate was trading 0.3 percent up at $55.15 a barrel, after falling as low as $54.53 earlier, its lowest since August 27.

Gold rose, as safe-haven demand surged after the United States and China launched fresh tariffs on each other’s goods, escalating a prolonged trade war and adding to fears of a global economic slowdown. Spot gold was trading 0.1 percent higher at $1,523.93 per ounce by 0609 GMT, having touched a low of $1,516.76 on Friday, its lowest since August 23. U.S. gold futures were up 0.4 percent at $1,535.10 an ounce.


Treasuries Recap

The Japanese government bond prices declined and their yields pulled back from multi-year lows. The benchmark 10-year JGB yield was 1 basis point higher at minus 0.270 percent after easing to a 3-year low of minus 0.290 percent on Thursday. A drop below minus 0.300 percent would take the 10-year yield to a record low. The 20-year yield rose 1.5 basis points to 0.060 percent following a descent to 0.040 percent last week, its lowest since July 2016.








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#555

Post by B0N3 » Wed Sep 04, 2019 7:17 pm

Asia Roundup:
Antipodeans at 1-week peak on upbeat Chinese service data, greenback slumps as manufacturing activity contracts, Asian shares surge –
Wednesday, September 4th, 2019






Market Roundup

Weak factory data weighs on dollar

Brexit delay hopes boost the pound

Oil prices recover amid economic concerns

Gold prices steady as economic growth fears dent risk sentiment



Economic Data Ahead

(0315 ET/0715 GMT) Spain Markit Service PMI August

(0345 ET/0745 GMT) Italy Markit Service PMI August

(0350 ET/0750 GMT) France Markit Composite PMI August

(0350 ET/0750 GMT) France Markit Service PMI August

(0355 ET/0755 GMT) Germany Markit Composite PMI August

(0355 ET/0755 GMT) Germany Markit Service PMI August

(0400 ET/0800 GMT) EZ Markit Service PMI August

(0400 ET/0800 GMT) EZ Markit Composite PMI August

(0430 ET/0830 GMT) UK Markit Service PMI August

(0500 ET/0900 GMT) EZ Retail Sales MoM August

(0500 ET/0900 GMT) EZ Retail Sales YoY August



Key Events Ahead

(0700 ET/1100 GMT) ECB Lane's speech



FX Beat

DXY:
The dollar index eased, extending previous session losses after a private report that showed the U.S. manufacturing sector in August recorded its first monthly contraction since 2016, with new orders and hiring declining sharply as trade tensions weighed on business confidence, raising fears of a recession. The greenback against a basket of currencies traded 0.1 percent down at 98.89, having touched a high of 99.37 on Tuesday, its highest since May 2017.

EUR/USD: The euro consolidated near a 2-1/2 year low hit in the previous session, as investors priced in deeper negative interest rates for longer in the eurozone. The European Central Bank benchmark rate now stands at minus 0.40 percent and the ECB has all but promised a monetary policy stimulus package as economic growth falters. The European currency traded flat at 1.0976, having touched a low of 1.0925 on Tuesday, its lowest since May 2017. Investors’ attention will remain on a series of Markit service PMI's out of Eurozone economies, EZ retail sales and ECB Lane's speech, ahead of the U.S. trade balance and speeches by Fed officials. Immediate resistance is located at 1.1017 (38.2% retracement of 1.1163 and 1.0925), a break above targets 1.1044 (50% retracement). On the downside, support is seen at 1.0930, a break below could drag it below 1.0870.

USD/JPY: The dollar steadied after falling to a near 1-week low in the previous session on worries about U.S.-China trade tensions and a chaotic British exit from the European Union. The major was trading 0.2 percent up at 106.13, having hit a low of 104.44 last week, its lowest since November 2016. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. trade balance and speeches by Fed officials. Immediate resistance is located at 106.73 (August 23 High), a break above targets 107.09 (August 6 High). On the downside, support is seen at 105.65 (August 28 Low), a break below could take it lower at 105.26 (August 9 Low).

GBP/USD: Sterling rose, extending previous day's rebound in the wake of a parliamentary vote that opened the door for another Brexit delay. On Tuesday, the British pound retreated from multi-year lows after British lawmakers voted to take control of the parliamentary agenda and scheduled another vote today. The major traded 0.2 percent up at 1.2103, having hit a low of 1.1958 on Tuesday, it’s lowest since October 2016. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2134 (50% retracement of 1.2309 and 1.1958), a break above could take it near 1.2175 (61.8% retracement). On the downside, support is seen at 1.2014 (August 12 Low), a break below targets 1.1986 (Jan. 16 2017 Low). Against the euro, the pound was trading 0.2 percent up at 90.64 pence, having hit a low of 91.48 on Tuesday, it’s lowest since August 22.

AUD/USD: The Australian dollar rallied to 1-week peak, as the greenback declined after data showed U.S. manufacturing activity contracted for the first time in three years in August. Moreover, the major was also boosted by data that showed China’s services sector expanded at the fastest pace in three months in August. The Aussie trades 0.3 percent up at 0.6778, having hit a high of 0.6783 earlier, it’s highest since August 26. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6734 (5-DMA), a break below targets 0.6677 (August 7 Low). On the upside, resistance is located at 0.6799 (August 2 1 High), a break above could take it near 0.6822 (August 8 High).

NZD/USD: The New Zealand dollar steadied after rising to a 1-week peak earlier in the day on increased bets on a couple of Federal Reserve rate cuts before Christmas. The Kiwi trades flat at 0.6334, having touched a low of 0.6269 on Tuesday, its lowest level September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6351 (10-DMA), a break above could take it near 0.6402 (21-DMA). On the downside, support is seen at 0.6283 (August 30 Low), a break below could drag it below 0.6210.



Equities Recap

Asian shares
rallied after a report showed growth in the China's service sector accelerating despite broader economic headwinds.

MSCI's broadest of Asia-Pacific shares outside Japan rose 0.6 percent.

Tokyo's Nikkei rallied 0.1 percent to 20,649.14 points, Australia's S&P/ASX 200 index declined 0.3 percent to 6,553.00 points and South Korea's KOSPI surged 2.2 percent to 1,988.53 points.

Hong Kong’s Hang Seng traded 3.5 percent higher at 26,432.36 points. Taiwan shares added 0.9 percent to 10,657.31 points.

Shanghai Composite Index rose 0.9 percent to 2,957.41 points, while CSI 300 index traded 0.8 percent up at 3,886.00 points.



Commodities Recap

Crude Oil prices recovered some ground after falling to their lowest level in close to a month in the previous session on concerns that a weakening global economy could depress demand. International benchmark Brent crude was trading 0.5 percent higher at $58.63 per barrel by 0450 GMT, having hit a low of $57.21 on Tuesday, its lowest since August 9. U.S. West Texas Intermediate was trading 0.5 percent up at $54.18 a barrel, after falling as low as $52.82 on Tuesday, its lowest since August 9.

Gold prices eased after rising to a near 1-week high earlier on the back of weak U.S. manufacturing data that heightened fears of an economic slowdown and soured risk sentiment. Spot gold was trading 0.3 percent down at $1,543.49 per ounce at 0547 GMT, having touched a high of $1,550.00 earlier, its highest since August 29. U.S. gold futures were steady at $1,555.6 an ounce.



Treasuries Recap

The U.S. Treasury yields fell on Tuesday, with the benchmark 10-year yield hitting its lowest since July 2016.

TheJapanese government bond prices climbed, with the benchmark 10-year yield touching a level just shy of an all-time low hit in 2016. Prices of benchmark 10-year JGB futures rose as much as 0.16 point to 155.38, hitting a record high. The 10-year JGB yield fell half a basis point to minus 0.285 percent, hovering around a record low of minus 0.30 percent hit in 2016. The 20-year JGB yield stood flat at 0.035 percent, the 30-year yield was unchanged at 0.115 percent, while the 40-year yield dropped half a basis point to 0.125 percent.








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#556

Post by B0N3 » Thu Sep 05, 2019 9:10 pm

Asia Roundup:
Antipodeans at multi-week peak, dollar rallies against yen as U.S. confirms trade talks with China, Asian shares surge –
Thursday, September 5th, 2019






Market Roundup

China: Will hold trade talks with the United States in early October

Oil prices rise after the U.S. confirms trade talks with China

Gold slips as risk sentiment improve



Economic Data Ahead

No major economic data releases



Key Events Ahead

(0300 ET/0700 GMT) ECB's De Guindos speech



FX Beat

DXY: The dollar index rebounded from a 1-week low after China’s commerce ministry stated that the talks would be held and both sides agreed that they should work together and take practical actions to create good conditions for consultations. The greenback against a basket of currencies traded 0.1 percent up at 98.51, having touched a low of 98.38 earlier, its lowest since August 29.

EUR/USD: The euro declined, weighed down by expectations for an interest rate cut, the relaunch of asset purchases and other European Central Bank measures to stimulate the economy. The European currency traded 0.1 percent down at 1.1028, having touched a low of 1.0925 on Tuesday, its lowest since May 2017. Investors’ attention will remain on ECB De Guindos' speech, ahead of the U.S. ADP employment change, unemployment benefit claims, factory orders and service PMI from both Markit and ISM. Immediate resistance is located at 1.1044 (50% retracement of 1.1163 and 1.0925), a break above targets 1.1072 (61.8% retracement). On the downside, support is seen at 1.1003 (5-DMA), a break below could drag it below 1.0963 (August 30 High).

USD/JPY: The dollar surged to a 3-week peak after China’s Commerce Ministry stated that its trade team will hold talks with U.S. counterparts in mid-September in preparation for high-level negotiations in early October. The major was trading 0.2 percent up at 106.55, having hit a high of 106.75 earlier, its highest since August 15. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. ADP employment change, unemployment benefit claims, factory orders and service PMI from both Markit and ISM. Immediate resistance is located at 106.97 (August 13 High), a break above targets 107.56 (August 2 High). On the downside, support is seen at 105.73 (September 3 Low), a break below could take it lower at 105.26 (August 9 Low).

GBP/USD: Sterling eased after rising by more than 1-percent in the previous session on news that the lower house of the British parliament voted to prevent Prime Minister Boris Johnson taking Britain out of the European Union without a deal. The major traded 0.2 percent down at 1.2234, having hit a high of 1.2259 earlier, it’s highest since August 28. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2293 (August 23 High), a break above could take it near 1.2345. On the downside, support is seen at 1.2197 (10-DMA), a break below targets 1.2139 (August 30 Low). Against the euro, the pound was trading 0.1 percent down at 90.11 pence, having hit a high of 89.98 on Wednesday, it’s highest since July 29.

AUD/USD: The Australian dollar rallied to an over 1-month peak after China and the United States agreed to hold talks to end their protracted trade dispute, giving hope that a dispute that has roiled global economies will be resolved. The Aussie trades 0.2 percent up at 0.6811, having hit a high of 0.6825 earlier, it’s highest since August 1. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6762 (21-DMA), a break below targets 0.6717 (August 29 Low). On the upside, resistance is located at 0.6867 (August 1 High), a break above could take it near 0.6899 (July 31 High).

NZD/USD: The New Zealand dollar surged to a 1-week high after U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He and agreed to hold ministerial-level trade talks in Washington in the coming weeks. The Kiwi trades flat at 0.6367, having touched a high of 0.6378 earlier, its highest level since August 27. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6394 (21-DMA), a break above could take it near 0.6429 (August 20 High). On the downside, support is seen at 0.6324 (5-DMA), a break below could drag it below 0.6269 (September 3 Low).



Equities Recap

Asian shares
surged after China said it will hold trade talks with the United States in early October, raising hopes they can de-escalate their trade war.

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

Tokyo's Nikkei rallied 2.1 percent to 21,085.94 points, Australia's S&P/ASX 200 index gained 0.9 percent to 6,613.20 points and South Korea's KOSPI surged 0.8 percent to 2,005.30 points.

Hong Kong’s Hang Seng traded 0.6 percent lower at 26,369.05 points. Taiwan shares added 0.9 percent to 10,756.93 points.

Shanghai Composite Index rose 1.1 percent to 2,988.99 points, while CSI 300 index traded 1.1 percent up at 3,928.93 points.



Commodities Recap

Crude Oil prices surged, extending previous session's rebound after the U.S. confirmed that talks with China to reach a trade agreement would be held in the coming weeks. International benchmark Brent crude was trading 0.5 percent higher at $60.77 per barrel by 0533 GMT, having hit a high of $61.14 earlier, its highest since August 29. U.S. West Texas Intermediate was trading 0.5 percent up at $54.24 a barrel, after rising as high as $56.62 earlier, its highest since August 30.

Gold prices declined as risk-on sentiment improved after China and the United States agreed to hold talks to end their protracted trade dispute. Spot gold declined 0.4 percent to $1,545.65 per ounce by 0551 GMT, having touched a high of $1,556.88 on Wednesday, its highest since April 2013. U.S. gold futures dropped 0.4 percent to $1,554.00 per ounce.



Treasuries Recap

The yield on Japan’s benchmark 10-year note, which moves inversely to its price, fell to at -0.265 percent down from August high of -0.130 percent, the yield on the long-term 30-year bond hovered at 0.140 percent while the yield on short-term 2-year traded at -0.287 percent.

The Australian government bonds slumped as a mild easing in geopolitical tensions improved risk appetite, pushing the benchmark 10-year yield to a month high. However, the country’s underlying momentum in the economy remains weak, which would further drag down the bond yields. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, edged 4-1/2 basis points higher to 0.969 percent, the yield on the long-term 30-year bond also rose 4 basis points to 1.563 percent while the yield on short-term 2-year climbed 3-1/2 basis points to 0.805 percent.






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#557

Post by B0N3 » Fri Sep 06, 2019 9:23 pm

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






Market Roundup

Dollar index gains after ADP U.S. August jobs data

Gold eases as trade optimism lift risk appetite

Oil set for a weekly gain



Economic Data Ahead

(0200 ET/0600 GMT) German Industrial production July

(0245 ET/0645 GMT) France Trade Balance July

(0245 ET/0645 GMT) France Current Account July

(0300 ET/0700 GMT) Switzerland Foreign Currency Reserves August

(0330 ET/0730 GMT) UK Halifax House prices August

(0400 ET/0800 GMT) Italy retail sales July

(0430 ET/0830 GMT) UK consumer inflation expectations

(0500 ET/0900 GMT) EZ gross domestic product Q2

(0500 ET/0900 GMT) EZ employment change Q2



Key Events Ahead

(0515 ET/0915 GMT) ECB's De Guindos speech



FX Beat

DXY: The dollar index traded within thin ranges as markets await the U.S. government’s monthly payrolls report as a confirmation of resilience in the labor market. Data released on Thursday showed, U.S. service sector activity accelerated in August and private employers boosted hiring beyond expectations, suggesting that the U.S. economy is in better shape than investors had feared. The greenback against a basket of currencies traded flat at 98.38, having touched a low of 98.09 on Thursday, its lowest since August 28.

EUR/USD: The euro consolidated within narrow ranges as weaker demand from abroad drove a bigger-than-expected decline in Germany's industrial orders in July, indicating that struggling manufacturers could tip the German economy into a recession in the third quarter. Investors have priced in deeper negative interest rates for longer in the eurozone. The European currency traded flat at 1.1037, having touched a high of 1.1084 on Thursday, its highest since August 29. Investors’ attention will remain on a series of data from the Eurozone economies, EZ gross domestic product, employment change numbers and ECB De Guindos' speech, ahead of the U.S. Nonfarm payrolls, unemployment report, and Fed Chair Powell's speech. Immediate resistance is located at 1.1096 (21-DMA), a break above targets 1.1116 (August 27 High). On the downside, support is seen at 1.0999 (5-DMA), a break below could drag it below 1.0963 (August 30 High).

USD/JPY: The dollar steadied near a 1-month peak hit in the previous session as payroll processor ADP said U.S. private hiring came in stronger than expected in August, while it revised lower its job reading for July. Moreover, global trade tensions eased as the U.S.-China trade conflict showed signs of thawing, bolstering investor confidence and reducing demand for safe-haven assets. The major was trading 0.5 percent up at 106.97, having hit a high of 107.23 on Thursday, its highest since August 2. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. Nonfarm payrolls, unemployment report, and Fed Chair Powell's speech. Immediate resistance is located at 107.56 (August 2 High), a break above targets 108.00. On the downside, support is seen at 106.38 (5-DMA), a break below could take it lower at 105.73 (September 3 Low).

GBP/USD: Sterling held gains near a 1-month peak after British lawmakers approved legislation to extend the Brexit deadline for the third time and rejected Prime Minister Boris Johnson’s motion to hold a snap election. The major traded flat at 1.2325, having hit a high of 1.2353 on Thursday, it’s highest since July 29. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2383 (July 29 High), a break above could take it near 1.2456 (July 17 High). On the downside, support is seen at 1.2205 (10-DMA), a break below targets 1.2139 (August 30 Low). Against the euro, the pound was trading 0.2 percent down at 89.75 pence, having hit a high of 89.41 earlier, it’s highest since July 25.

AUD/USD: The Australian dollar rose, extending gains for the fourth straight session, as China’s Commerce Ministry showed renewed trade optimism between the U.S. and China, signaling a negotiation round during October. The Aussie trades 0.1 percent up at 0.6818, having hit a high of 0.6829 on Thursday, it’s highest since August 1. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6763 (5-DMA), a break below targets 0.6717 (August 29 Low). On the upside, resistance is located at 0.6867 (August 1 High), a break above could take it near 0.6899 (July 31 High).

NZD/USD: The New Zealand dollar surged, extending gains for the fifth consecutive session, amid renewed U.S.-China trade optimism after the Chinese Commerce Ministry confirmed a call with the U.S. diplomats to have a trade talk in October. The Kiwi trades 0.2 percent up at 0.6390, having touched a high of 0.6395 on Thursday, its highest level since August 27. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6409 (August 23 High), a break above could take it near 0.6441 (August 19 High). On the downside, support is seen at 0.6337 (5-DMA), a break below could drag it below 0.6269 (September 3 Low).



Equities Recap

Asian shares
surged amid hopes for easing in U.S.-China trade tensions and as firm U.S. economic data increased risk appetites.

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

Tokyo's Nikkei rallied 0.4 percent to 21,186.65 points, Australia's S&P/ASX 200 index gained 0.5 percent to 6,647.90 points and South Korea's KOSPI surged 0.2 percent to 2,008.41 points.

Hong Kong’s Hang Seng traded 0.2 percent higher at 26,572.75 points. Taiwan shares added 0.2 percent to 10,780.64 points.

Shanghai Composite Index rose 0.05 percent to 2,986.93 points, while CSI 300 index traded 0.1 percent up at 3,929.50 points.



Commodities Recap

Crude Oil prices rose to multi-week highs amid a sharp drawdown in U.S. crude inventories, while trade tensions eased after Washington and Beijing agreed to hold high-level talks next month. International benchmark Brent crude was trading 0.5 percent higher at $61.01 per barrel by 0448 GMT, having hit a high of $62.37 the day before, its highest since August 2. U.S. West Texas Intermediate was trading 0.3 percent up at $56.34 a barrel, after rising as high as $57.72 on Thursday, its highest since August 1.

Gold prices eased after dropping more than 2 percent in the previous session, as stronger U.S. economic data and hopes of a thaw in the U.S.-China trade tensions boosted investor sentiment. Spot gold was trading 0.1 percent down at $1,518.01 per ounce by 0451 GMT, having touched a low of $1,506.03 on Thursday, its lowest since August 23. U.S. gold futures were little changed at $1,526 an ounce.



Treasuries Recap

The U.S. Treasuries fell in price and their yields rebounded from multi-year lows. The 10-year Treasury yield was at 1.536 percent, having risen from a 3-year trough of 1.428 percent plumbed midweek on soft economic data and U.S.-China trade worries.

The Japan’s 10-year government bond yield climbed 3 basis points to minus 0.245percent, putting some distance between a 3-year low of minus 0.295 percent set earlier this week.








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#558

Post by B0N3 » Mon Sep 09, 2019 7:24 pm

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






Market Roundup

Aussie rises after Aussie Home Loans data

Kiwi near 3-week high

Euro consolidates ahead of ECB meeting

Oil rises as Saudi Arabia signals OPEC cuts



Economic Data Ahead

(0430 ET/0830 GMT) Great Britain Industrial Output MM

(0430 ET/0830 GMT) Great Britain Industrial Output YY

(0430 ET/0830 GMT) Great Britain Manufacturing Output MM

(0430 ET/0830 GMT) Great Britain Manufacturing Output YY

(0430 ET/0830 GMT) Great Britain Goods Trade Bal. Non-EU

(0430 ET/0830 GMT) Great Britain Goods Trade Balance GBP

(0430 ET/0830 GMT) Great Britain gross domestic product

(0430 ET/0830 GMT) EZ Sentix investor confidence September



Key Events Ahead

(0400 ET/0800 GMT) Bank of England Monetary Policy Committee member Dr Gertjan Vlieghe gives a speech



FX Beat

DXY:
The dollar index rose, halting a 4-day losing streak, after Fed Chair Jerome Powell, on Friday, stated that the Federal Reserve will continue to act as appropriate to sustain the economic expansion in the U.S. economy. The greenback against a basket of currencies traded 0.4 percent up at 98.43, having touched a low of 98.01 on Friday, its lowest since August 28.

EUR/USD: The euro consolidated within narrow ranges as investors remained cautious ahead of a European Central Bank meeting later this week at which policymakers are expected to deliver new stimulus to bolster a flagging regional economy. The European currency traded flat at 1.1037, having touched a high of 1.1084 on Thursday, its highest since August 29. Investors’ attention will remain on a series of data from the Eurozone economies, and EZ Sentix investor sentiment, ahead of the U.S. consumer credit change. Immediate resistance is located at 1.1060 (August 30 High), a break above targets 1.1116 (August 27 High). On the downside, support is seen at 1.1000, a break below could drag it below 1.0963 (August 30 High).

USD/JPY: The dollar eased, hovering away from a 1-month peak hit last week on the back of mixed U.S. August payrolls data. On Friday, the government said U.S. employers added fewer workers than expected in August, with retail hiring declining for a seventh straight month, but average hourly wages grew a bit more strongly than forecast, supporting consumer spending. The major was trading 0.05 percent down at 106.85, having hit a high of 107.23 on Thursday, its highest since August 2. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer credit change. Immediate resistance is located at 107.56 (August 2 High), a break above targets 108.00. On the downside, support is seen at 106.46 (5-DMA), a break below could take it lower at 105.73 (September 3 Low).

GBP/USD: Sterling declined, extending previous session losses, weighed down by political uncertainty about how the UK would complete its transition deal with the European Union by an October 31 deadline. The major traded 0.2 percent down at 1.2263, having hit a high of 1.2353 on Thursday, it’s highest since July 29. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2309 (July 29 High), a break above could take it near 1.2383 (August 27 High). On the downside, support is seen at 1.2205 (10-DMA), a break below targets 1.2139 (August 30 Low). Against the euro, the pound was trading 0.3 percent down at 89.89 pence, having hit a high of 89.41 on Friday, it’s highest since July 25.

AUD/USD: The Australian dollar surged to a fresh 1-month peak after domestic data showed the home loans rose by 5 percent in July, having dropped 0.8 percent in the preceding month. The Aussie trades 0.2 percent up at 0.6856, having hit a high of 0.6862 earlier, it’s highest since August 1. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6786 (5-DMA), a break below targets 0.6717 (August 29 Low). On the upside, resistance is located at 0.6867 (August 1 High), a break above could take it near 0.6899 (July 31 High).

NZD/USD: The New Zealand dollar rose, extending gains for the sixth straight session, as expectations of the U.S.-China trade negotiations in October, coupled with a late-September U.S. visit by Chinese deputies boosted investor risk sentiment. The Kiwi trades 0.2 percent up at 0.6390, having touched a high of 0.6395 on Thursday, its highest level since August 27. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6409 (August 23 High), a break above could take it near 0.6441 (August 19 High). On the downside, support is seen at 0.6337 (5-DMA), a break below could drag it below 0.6269 (September 3 Low).



Equities Recap

Asian shares
gained amid cautious sentiment as investors pinned their hopes on expected global stimulus to support slowing growth in the world’s major economies.

MSCI's broadest of Asia-Pacific shares outside Japan rose 0.2 percent.

Tokyo's Nikkei rallied 0.6 percent to 21,318.42 points, Australia's S&P/ASX 200 index gained 0.05 percent to 6,648.00 points and South Korea's KOSPI surged 0.5 percent to 2,019.52 points.

Hong Kong’s Hang Seng traded 0.1 percent lower at 26,676.59 points. Taiwan shares added 0.2 percent to 10,801.14 points.

Shanghai Composite Index rose 0.7 percent to 3,020.39 points, while CSI 300 index traded 0.5 percent up at 3,967.77 points.



Commodities Recap

Crude Oil prices surged on expectations that Saudi Arabia will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister Prince Abdulaziz bin Salman. International benchmark Brent crude was trading 0.9 percent higher at $62.12 per barrel by 0517 GMT, having hit a high of $62.37 on Thursday, its highest since August 2. U.S. West Texas Intermediate was trading 0.9 percent up at $57.15 a barrel, after rising as high as $57.72 on Thursday, its highest since August 1.

Gold prices steadied after falling nearly 1 percent in the previous session, on expectations of monetary policy easing by the world’s major economies amid soft economic data, although a rise in equities limited gains. Spot gold was trading 0.2 percent up at $1,509.63 per ounce by 0522 GMT, having touched a low of $1,502.46 on Friday, its lowest since August 23. U.S. gold futures were up 0.2 percent at $1,518.5 an ounce.




Treasuries Recap

The Japanese government bonds gained at close of morning Asian session after the country’s gross domestic product (GDP) for the second quarter of this year expanded less than that in the previous quarter amid hovering uncertainties over U.S.-China trade talks. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, plunged 25 basis points to -0.254 percent, the yield on the long-term 30-year hovered around 0.198 percent and the yield on short-term 2-year slumped 31 basis points to -0.312 percent.








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#559

Post by B0N3 » Tue Sep 10, 2019 6:55 pm

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






Market Roundup

China’s producer price index fell 0.8% in August year-on-year

China's consumer price index rose by 2.8% in August

Australian NAB business confidence fell to 1 in August

Australian NAB business conditions index deteriorated to 1 in August

Oil rises amid hopes of extended OPEC production cuts



Economic Data Ahead

(0430 ET/0830 GMT) United Kingdom Claimant Count Unem Chng

(0430 ET/0830 GMT) United Kingdom ILO Unemployment Rate

(0430 ET/0830 GMT) United Kingdom Employment Change

(0430 ET/0830 GMT) United Kingdom Avg Wk Earnings 3M YY

(0430 ET/0830 GMT) United Kingdom Avg Earnings (Ex-Bonus)



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY:
The dollar index surged as the U.S. Treasury yields rose to 3-week highs on Monday after Treasury Secretary Steven Mnuchin stated that there had been progress on a U.S-China trade deal and that the U.S. was prepared to negotiate. The greenback against a basket of currencies traded 0.2 percent up at 98.38, having touched a low of 98.01 on Friday, its lowest since August 28.

EUR/USD: The euro traded within narrow ranges, as investors stayed on the sidelines ahead of a key European Central Bank meeting on Thursday, at which policymakers are expected to ease monetary policy. The European currency traded flat at 1.1042, having touched a high of 1.1084 on Thursday, its highest since August 29. Investors’ attention will remain on a series of data from the Eurozone economies, ahead of the U.S. JOLTS job opening data. Immediate resistance is located at 1.1075 (21-DMA), a break above targets 1.1116 (August 27 High). On the downside, support is seen at 1.1000, a break below could drag it below 1.0963 (August 30 High).

USD/JPY: The dollar rallied to an over 1-month peak as U.S. Treasury Secretary Steven Mnuchin said he did not see the threat of a recession as the Trump administration seeks to revive trade negotiations with China. However, data showing China’s producer price index fell 0.8 percent in August year-on-year, it's sharpest decline since August 2016 limited the upside in the pair. The major was trading 0.2 percent up at 107.39, having hit a high of 107.49 earlier, its highest since August 2. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. JOLTS job opening data. Immediate resistance is located at 107.56 (August 2 High), a break above targets 108.00. On the downside, support is seen at 106.67 (5-DMA), a break below could take it lower at 105.73 (September 3 Low).

GBP/USD: Sterling steadied after rising to a 6-week peak in the previous session on data that showed Britain’s economy picked up more than expected in July. On Tuesday, Britain’s parliament rejected Prime Minister Boris Johnson’s call for a national parliamentary election and a law came into force demanding that PM Johnson delay Britain’s departure from the European Union unless he can strike a transition deal. The major traded flat at 1.2341, having hit a high of 1.2384 on Monday, it’s highest since July 26. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2400, a break above could take it near 1.2456 (July 17 High). On the downside, support is seen at 1.2258 (5-DMA), a break below targets 1.2218 (10-DMA). Against the euro, the pound was trading flat at 89.49 pence, having hit a high of 89.04 on Monday, it’s highest since July 25.

AUD/USD:The Australian dollar eased from a 6-week peak touched in the prior session after China reported downbeat producer price index and the National Bank of Australia reported a decline in the business confidence index. Australian NAB business confidence fell to 1 in August from July's print of 4, while business conditions index deteriorated to 1 from 3 despite the rate cuts by the Reserve Bank of Australia in June and July. The Aussie trades traded 0.1 percent down at 0.6859, having hit a high of 0.6875 on Monday, it’s highest since July 31. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6815 (5-DMA), a break below targets 0.6777 (August 9 Low). On the upside, resistance is located at 0.6899 (July 31 High), a break above could take it near 0.6955 (July 26 High).

NZD/USD: The New Zealand dollar rose, extending gains for the seventh straight session, boosted by from increasing prospects of the U.S.-China trade deal and expectations for China’s further stimulus after the People’s Bank of China said it will cut the reserve requirements for financial institutions. The Kiwi trades 0.1 percent up at 0.6430, having touched a high of 0.6444 on Monday, its highest level since August 16. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6471 (August 13 High), a break above could take it near 0.6498 (August 9 High). On the downside, support is seen at 0.6382 (5-DMA), a break below could drag it below 0.6325 (September 4 Low).



Equities Recap

Asian shares
slumped after Chinese data showed mainland factory prices shrank at their fastest pace in three years, as flagging demand at home and abroad forced some businesses to slash prices.

MSCI's broadest of Asia-Pacific shares outside Japan rose 0.2 percent.

Tokyo's Nikkei rose 0.4 percent to 21,392.10 points, Australia's S&P/ASX 200 index eased 0.5 percent to 6,614.10 points and South Korea's KOSPI surged 0.7 percent to 2,032.87 points.

Hong Kong’s Hang Seng traded 0.05 percent lower at 26,673.15 points. Taiwan shares shed 0.4 percent to 10,753.58 points.

Shanghai Composite Index declined 0.3 percent to 3,015.40 points, while CSI 300 index traded 0.5 percent down at 3,953.97 points.



Commodities Recap

Crude Oil price surged to an over 1-month peak amid optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices. International benchmark Brent crude was trading 0.1 percent higher at $62.74 per barrel by 0451 GMT, having hit a high of $63.11 earlier, its highest since August 1. U.S. West Texas Intermediate was trading 0.1 percent up at $58.36 a barrel, after rising as high as $58.36 earlier, its highest since July 31.

Gold prices plunged to a 1-month low as investor appetite improved on hopes of global stimulus amid expectations of a breakthrough in the U.S.-China trade dispute. Spot gold was trading 0.6 percent down at $1,489.63 per ounce by 0454 GMT, having touched a low of $1,486.34 earlier, its lowest since August 13. U.S. gold futures were down 0.9 percent at $1,497.4 an ounce.



Treasuries Recap

The Japanese government bond prices slipped across the board, amid an improvement in risk appetite. The five-year JGB yield rose 3 basis points to minus 0.320 percent. The benchmark 10-year yield climbed 3.5 bps to minus 0.225 percent, pulling away from a three-year low of minus 0.295 percent set on Friday. The 30-year yield was 5.5 bps higher at 0.275 percent.

The benchmark 10-year Australian government bond futures fell 6.25 ticks to 98.90, approaching a five-week low.









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#560

Post by B0N3 » Wed Sep 11, 2019 8:08 pm

Asia Roundup:
Aussie at 6-week peak amid optimism around U.S.-China trade talks, dollar gains against yen as risk appetite improves, Asian shares surge –
Wednesday, September 11th, 2019






Market Roundup

Australian consumer mood deteriorates

Oil prices gain after a bigger-than-expected decline in U.S. stockpiles

Gold prices inch higher ahead of ECB



Economic Data Ahead

No major economic data releases



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index rebounded from a 2-1/2 week low as optimism toward U.S.-China trade talks and moves in Britain to avoid a chaotic exit from the European Union boosted risk appetite. The greenback against a basket of currencies traded 0.1 percent up at 98.39, having touched a low of 97.86 earlier, its lowest since August 26.

EUR/USD: The euro rose, reversing some of its previous session losses, ahead of the European Central Bank's meeting on Thursday, where the central bank is expected to cut interest rates even further into negative territory and possibly restart asset purchases. The European currency traded 0.1 percent up at 1.1052, having touched a high of 1.1084 on Thursday, its highest since August 29. Investors’ attention will remain on data out from the Eurozone economies, ahead of the U.S. producer price index and wholesale inventories. Immediate resistance is located at 1.1067 (21-DMA), a break above targets 1.1116 (August 27 High). On the downside, support is seen at 1.1000, a break below could drag it below 1.0963 (August 30 High).

USD/JPY: The dollar rallied to a near 6-week peak, as a rebound in government bond yields prompted some investors to cut back on bearish bets on the global economy. The selling pressure intensified around the Japanese yen after Reuters reported Bank of Japan policymakers are more open to discussing the possibility of expanding stimulus at their board meeting on Sept. 18-19. The major was trading 0.2 percent up at 107.78, having hit a high of 107.84 earlier, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index and wholesale inventories. Immediate resistance is located at 107.97 (July 19 High), a break above targets 108.37 (July 16 High). On the downside, support is seen at 106.99 (5-DMA), a break below could take it lower at 106.59 (10-DMA).

GBP/USD: Sterling surged, extending gains for the third straight session after data showed July’s UK average earnings hit an 11-year high, rising from 3.8 percent to 4 percent, while July’s ILO unemployment rate ease from 3.9 percent to 3.8 percent, its lowest in 45 years. The major traded 0.1 percent up at 1.2364, having hit a high of 1.2384 on Monday, it’s highest since July 26. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2400, a break above could take it near 1.2456 (July 17 High). On the downside, support is seen at 1.2312 (5-DMA), a break below targets 1.2224 (10-DMA). Against the euro, the pound was trading flat at 89.34 pence, having hit a high of 89.04 on Monday, it’s highest since July 25.

AUD/USD:The Australian dollar advanced to a 6-week peak boosted by optimism that a high-level meeting of U.S. and Chinese negotiators at Washington next month can deliver a breakthrough in the trade war. However, the upside was limited after a survey by the Melbourne Institute and Westpac Bank showed its index of consumer sentiment declined 1.7 percent in September, after gaining 3.6 percent in August. The Aussie trades traded 0.2 percent up at 0.6875, having hit a high of 0.6884 earlier, it’s highest since July 31. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6835 (5-DMA), a break below targets 0.6777 (August 9 Low). On the upside, resistance is located at 0.6899 (July 31 High), a break above could take it near 0.6955 (July 26 High).

NZD/USD: The New Zealand dollar surged, extending gains for the eighth straight session, on news that a new round of U.S.-China trade talks was scheduled for next month. The Kiwi trades 0.1 percent up at 0.6432, having touched a high of 0.6444 on Monday, its highest level since August 16. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6471 (August 13 High), a break above could take it near 0.6498 (August 9 High). On the downside, support is seen at 0.6385 (21-DMA), a break below could drag it below 0.6325 (September 4 Low).



Equities Recap

Asian shares
surged as hopes of diminishing U.S.-China tensions and reduced risk of no-deal Brexit boosted investor risk sentiment.

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

Tokyo's Nikkei rose 0.9 percent to 21,597.76 points, Australia's S&P/ASX 200 index rallied 0.4 percent to 6,638.00 points and South Korea's KOSPI surged 0.8 percent to 2,048.89 points.

Hong Kong’s Hang Seng traded 1.6 percent higher at 27,115.98 points. Taiwan shares added 0.3 percent to 10,790.35 points.

Shanghai Composite Index declined 0.3 percent to 3,012.32 points, while CSI 300 index traded 0.7 percent down at 3,932.80 points.



Commodities Recap

Crude Oil prices rose after an industry report said U.S. crude stockpiles fell last week by more than twice the amount that analysts in a Reuters poll had forecast. International benchmark Brent crude was trading 0.1 percent higher at $62.84 per barrel by 0509 GMT, having hit a high of $63.74 on Tuesday, its highest since August 1. U.S. West Texas Intermediate was trading up at $57.84 a barrel, after rising as high as $58.74 on Tuesday, its highest since July 31.

Gold prices edged higher, halting a 4-day losing streak, as investors cautiously awaited European Central Bank’s meeting where it is widely expected to cut interest rates. Spot gold was trading 0.4 percent up at $1,490.87 per ounce by 0515 GMT, having touched a low of $1,483.22 earlier, its lowest since August 13. U.S. gold futures were little changed at $1,498.8 an ounce.



Treasuries Recap

The Japanese government bond prices fell, with Benchmark 10-year JGB futures falling 0.27 point to 154.40. The 10-year JGB yield rose 3 basis points to minus 0.200 percent, the highest since Aug. 9. The 20-year JGB yield rose 1.5 bps to 0.160 percent, while the 30-year JGB yield increased 1.5 bps to 0.290 percent. At the short end of the curve, the two-year JGB yield rose 1.5 bps to minus 0.280 percent.









DAPATKAN INFO TERKINI DAILY MARKET NEWS SETIAP HARI DI FIREWOODFX
http://www.firewoodfx.com/category/forex-market-news/



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