FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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Re: FirewoodFX - Market News

#441

Post by B0N3 » Mon Feb 18, 2019 7:07 pm

Asia Roundup:
Antipodeans at 1-1/2 week peak, dollar gains against yen on U.S.-China trade deal hopes; Asian shares rally –
Monday, February 18th, 2019







Market Roundup

U.S. blocks North Korean air traffic revival ahead of Trump-Kim summit – sources

U.S. agency submits auto tariff probe report to White House

China-U.S. trade talks 'making a final sprint' – state media

China's Jan car sales fall 15.8 pct y/y, seventh month of decline

Foreign demand for Japanese machinery slumps by most since 2007

UK's May to speak to every EU head in bid for Brexit deal changes

UK businesses plan to raise pay by most since 2012 – CIPD

Pence chastises EU, rejects Merkel's call to work with Russia

ECB's Rehn sees euro zone economy weakening

Saudi crown prince begins Asia tour with $20 bln Pakistan investment pledge



Economic Data Ahead

No major economic data releases



Key Events Ahead

(0600 ET/1100 GMT) Belgian Central Bank Governor Pierre Wunsch to present the central bank's annual report in Brussels

(1115 ET/1615 GMT) ECB Supervisor Andrea Enria participates in a panel discussion at an event in Brussels



FX Beat

DXY: The dollar index fell to a 5-day low, as investors cautiously awaited minutes of the Federal Reserve's last policy meeting, due Wednesday that could provide guidance on the path of rates this year. The greenback against a basket of currencies trades 0.1 percent down at 96.81, having touched a high of 97.37 the session before, its highest since December 17. FxWirePro's Hourly Dollar Strength Index stood at -118.85 (Highly Bearish) by 0500 GMT.

EUR/USD: The euro rebounded after falling to a 3-month low in the previous session on expectations the European Central Bank will keep its monetary policy accommodative due to low growth, tepid inflation and political uncertainties. The European currency traded 0.2 percent up at 1.1310, having touched a low of 1.1234 on Friday, its lowest since Nov. 13. FxWirePro's Hourly Euro Strength Index stood at -71.49 (Slightly Bearish) by 0500 GMT. Immediate resistance is located at 1.1341 (Feb. 13 High), a break above targets 1.1368 (Feb.7 High).. On the downside, support is seen at 1.1216 (Nov. 13 Low), a break below could drag it till 1.1180.

USD/JPY: The dollar steadied against the Japanese yen as both the United States and China reported progress in five days of negotiations in Beijing last week. However, data showing China's automobile sales in January tumbled 15.8 percent from a year earlier raised concerns over the strength of the Chinese economy. The major was trading 0.1 percent down at 110.52, having hit a high of 111.12 on Thursday, its highest since December 27. FxWirePro's Hourly Yen Strength Index stood at 50.80 (Bullish) by 0500 GMT. Immediate resistance is located at 111.05 (Feb. 13 Low), a break above targets 111.40 (Dec. 26 Low). On the downside, support is seen at 110.25 (10-DMA), a break below could take it lower at 109.60 (Feb. 7 Low).

GBP/USD: Sterling consolidated above the 1.2900 handle after the Irish foreign minister stated that despite Prime Minister Theresa May's latest parliamentary loss, European Union states still stand willing to offer a package to help her get a Brexit withdrawal deal. The major traded 0.2 percent up at 1.2908, having hit a low of 1.2772 on Thursday; it’s lowest since January 15. FxWirePro's Hourly Sterling Strength Index stood at 64.52 (Bullish) 0500 GMT. Immediate resistance is located at 1.2958 (Feb. 18 High), a break above could take it near 1.2996 (February 7 High). On the downside, support is seen at 1.2845 (Feb 11 Low), a break below targets 1.2766 (Nov 22 Low). Against the euro, the pound was trading flat at 87.60 pence, having hit a high of 87.42, it’s highest since Feb. 8.

AUD/USD: The Australian dollar rallied to a 1-1/2 week peak, amid hopes of some resolution in the protracted U.S.-China trade war and expectations of expansionary global monetary policy. The Aussie trades 0.1 percent up at 0.7150, having hit a high of 0.7158; it’s highest since February 6. FxWirePro's Hourly Aussie Strength Index stood at 59.83 (Bullish) by 0500 GMT. Immediate support is seen at 0.7089 (Feb. 7 Low), a break below targets 0.7044 (Dec. 26 Low). On the upside, resistance is located at 0.7166 (January 24 High), a break above could take it near 0.7203 (January 28 High).

NZD/USD: The New Zealand dollar advanced to a near 2-week peak, as expectations the United States and China would come to an agreement to resolve their year-long trade dispute boosted risk sentiment. The Kiwi trades 0.2 percent up at 0.6877, having touched a high of 0.6893, its highest level Feb. 6. FxWirePro's Hourly Kiwi Strength Index was at 60.51 (Bullish) by 0500 GMT. Immediate resistance is located at 0.6911 (Dec. 11 High), a break above could take it near 0.6941 (Feb. 1 High). On the downside, support is seen at 0.6808 (21-DMA), a break below could drag it below 0.6766 (Feb. 6 Low).



Equities Recap

Asian shares jumped amid hopes for progress in U.S.-China trade talks in Washington this week and expectations of more policy stimulus from major central banks.

MSCI's broadest of Asia-Pacific shares outside Japan gained 1.0 percent.

Tokyo's Nikkei gained 1.8 percent to 21,281.85 points, Australia's S&P/ASX 200 index surged 0.4 percent to 6,089.80 points and South Korea's KOSPI advanced 0.6 percent to 2,210.89 points.

Shanghai composite index rose 2.7 percent to 2,754.36 points, while CSI300 index traded 3.2 percent up at 3,445.74 points.

Hong Kong’s Hang Seng traded 1.7 percent higher at 28,372.98 points. Taiwan shares shed 0.8 percent to 10,145.28 points.



Commodities Recap

Crude Oil prices steadied after rising to their highest this year earlier in the session as a drop in China's automobile sales in January raised concerns about fuel demand in the world's second-largest oil consumer. International benchmark Brent crude was trading 0.1 percent up at $66.33 per barrel by 0513 GMT, having hit a high of $66.76 earlier, its highest since November 20. U.S. West Texas Intermediate was trading 0.1 percent higher at $55.82 a barrel, after rising as high as $56.11, its highest since the November 20.

Gold prices rallied to their strongest level in more than 2-weeks as the dollar weakened on hopes the United States and China are nearing a trade deal. Spot gold gained 0.2 percent to $1,323.31 per ounce by 0521 GMT, having touched a high of $1,325.21 earlier, its highest level since January 31. U.S. gold futures rose 0.4 percent to $1,327.8 an ounce.










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#442

Post by B0N3 » Wed Feb 20, 2019 7:14 pm

Asia Roundup:
Aussie gains on mixed wage price index, dollar gains against yen on hopes of U.S.-China trade deal, Asian shares rally –
Wednesday, February 20th, 2019







Market Roundup

Amid trade talks, China urges U.S. to respect its right to develop, prosper

Fed's Williams says new economic outlook necessary for rate hikes

U.S. Fed says minutes to be released on time as offices close

Trump confident he will prevail against lawsuits over emergency declaration

Trump plans to nominate Jeffrey Rosen as Justice Dept. No. 2 -senior official

May in Brussels again, seeking Brexit movement

UK's Hammond says EU won't consider alternatives to backstop for now

Japanese firms see flat business spending amid trade frictions, tax hike jitters

Japan Jan Exports YY, -8.4%, -5.5% f’cast, -3.8% prev, -3.9% rvsd

Japan Jan Imports YY, -0.6%, -2.8% f’cast, 1.9% prev

Japan Jan Trade Balance Total Yen, -1,415.2 bln, -1,011.0 bln f'cast, -55.3 bln prev, -56.7 bln rvsd

Australia Q4 Wage Price Index QQ, 0.5%, 0.6% f’cast, 0.6% prev

Australia Q4 Wage Price Index YY, 2.3%, 2.3% f’cast, 2.3% prev



Economic Data Ahead

(0200 ET/0700 GMT) Germany Jan Producer Prices MM, -0.2% f’cast, -0.4% prev

(0200 ET/0700 GMT) Germany Jan Producer Prices YY, 2.2% f’cast, 2.7% prev

(1000 ET/1500 GMT) EZ Feb Consumer Confid. Flash, -7.8 f’cast, -7.9 prev



Key Events Ahead

(0200 ET/0700 GMT) ECB chief economist Peter Praet delivers a speech in Frankfurt

(0600 ET/1100 GMT) Riksbank Deputy Governor Martin Flodén discusses the economic situation and monetary policy in Stockholm

(1310 ET/1810 GMT) Dallas Fed President Robert Kaplan participates in a moderated question-and-answer session in Houston

(1400ET/1900 GMT) FOMC will release the minutes from its January 29-30, 2019 policy meeting in Washington



FX Beat

DXY: The dollar index rebounded from near 2-week lows after New York Fed President John Williams stated that he was comfortable with the current U.S. interest rates levels and there is no need to raise them again unless economic growth or inflation shifts to an unexpectedly higher gear. The greenback against a basket of currencies trades 0.05 percent up at 96.56, having touched a low of 96.43 on Tuesday, its lowest since February 8. FxWirePro's Hourly Dollar Strength Index stood at -70.31 (Bearish) by 0500 GMT.

EUR/USD: The euro rose, hovering towards a near 2-week peak hit in the previous session after data released on Tuesday showed Germany recorded the world's largest current account surplus for the third year running in 2018 due to strong exports. The European currency traded 0.1 percent up at 1.1343, having touched a high of 1.1357 on Tuesday, its highest since Feb. 7. FxWirePro's Hourly Euro Strength Index stood at 25.29 (Neutral) by 0500 GMT. Investors’ attention will remain on Eurozone prelim consumer confidence and ECB Praet's speech ahead of the Fed's latest policy meeting minutes release. Immediate resistance is located at 1.1368 (Feb.7 High), a break above targets 1.1394 (Jan. 23 High). On the downside, support is seen at 1.1299 (5-DMA), a break below could drag it till 1.1216 (Nov. 13 Low).

USD/JPY: The dollar rallied to a 6-day peak, amid optimism that a fresh round of talks between China and the United States would help resolve their trade conflict. The major was trading 0.2 percent up at 110.82, having hit a high of 111.12 on Thursday, its highest since December 27. FxWirePro's Hourly Yen Strength Index stood at 127.76 (Bearish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the Fed's latest policy meeting minutes release. Immediate resistance is located at 111.05 (Feb. 13 Low), a break above targets 111.40 (Dec. 26 Low). On the downside, support is seen at 110.25 (Feb.15 Low), a break below could take it lower at 109.60 (Feb. 7 Low).

GBP/USD: Sterling slightly edged lower after rising to an over 2-week peak earlier in the session on hopes that British Prime Minister Theresa May will make progress in seeking changes to her Brexit deal with the European Union. The major traded 0.05 percent down at 1.3054, having hit a high of 1.3076 earlier; it’s highest since February 14. FxWirePro's Hourly Sterling Strength Index stood at 105.49 (Highly Bullish) 0500 GMT. Investors’ attention will remain on PM May and EU Juncker's meeting, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3103 (Feb. 4 High), a break above could take it near 1.3160 (January 31 High). On the downside, support is seen at 1.2993 (5-DMA), a break below targets 1.2903 (5-DMA). Against the euro, the pound was trading 0.1 percent down at 86.86 pence, having hit a high of 86.72 on Tuesday, it’s highest since Jan. 29.

AUD/USD: The Australian dollar surged to a 2-week peak on mixed domestic data, with wages missing forecasts in the December quarter but annual growth in the private sector rising at the fastest pace in five years. The Aussie trades flat at 0.7160, having hit a high of 0.7176 earlier; it’s highest since February 6. FxWirePro's Hourly Aussie Strength Index stood at 96.20 (Slightly Bullish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7125 (5-DMA), a break below targets 0.7089 (Feb. 7 Low). On the upside, resistance is located at 0.7203 (January 28 High), a break above could take it near 0.7235 (January 11 High).

NZD/USD: The New Zealand dollar declined, as the greenback gained ahead of the release of minutes from the Federal Reserve's January policy-setting meeting. The Kiwi trades 0.2 percent down at 0.6865, having touched a high of 0.6893 on Monday, its highest level Feb. 6. FxWirePro's Hourly Kiwi Strength Index was at -43.69 (Neutral) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6911 (Dec. 11 High), a break above could take it near 0.6941 (Feb. 1 High). On the downside, support is seen at 0.6795 (10-DMA), a break below could drag it below 0.6766 (Feb. 6 Low).



Equities Recap

Asian shares consolidated near 4-month highs, supported by hopes that U.S.-China trade talks were making progress.

MSCI's broadest of Asia-Pacific shares outside Japan nudged higher.

Tokyo's Nikkei gained 0.1 percent to 21,308.70 points, Australia's S&P/ASX 200 index surged 0.3 percent to 6,106.90 points and South Korea's KOSPI fell 0.2 percent to 2,207.68 points.

Shanghai composite index declined 0.3 percent to 2,746.08 points, while CSI300 index traded 0.4 percent down at 3,432.25 points.

Hong Kong’s Hang Seng traded 0.2 percent lower at 28,282.16 points. Taiwan shares added 0.1 percent to 10,152.26 points.



Commodities Recap

Crude Oil prices eased after rising to 2019 highs in the previous session on supply cuts led by producer club OPEC and by U.S. sanctions on Iran and Venezuela. International benchmark Brent crude was trading 0.2 percent down at $66.31 per barrel by 0523 GMT, having hit a high of $66.81 on Monday, its highest since November 20. U.S. West Texas Intermediate was trading 0.8 percent higher at $56.49 a barrel, after rising as high as $56.75 earlier, its highest since the November 20.

Gold prices rallied to fresh 10-month highs, boosted by global slowdown concerns and a weaker dollar, with markets eyeing the release of the U.S. Federal Reserve's policy meeting minutes later in the day. Spot gold was trading 0.1perecnt up at $1,342.71 per ounce by 0527 GMT, having touched a high of $1,346.78 per ounce earlier, its highest level since April 20. U.S. gold futures dipped 0.2 percent to $1,342.6 an ounce.










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#443

Post by B0N3 » Thu Feb 21, 2019 7:20 pm

Asia Roundup:
Aussie slumps on rate cut expectations, greenback off 2-week low after release of Fed minutes, Asian shares rally –
Thursday, February 21st, 2019







Market Roundup

U.S., China sketch outlines of deal to end trade war -sources

Fed flags end to balance sheet runoff, patience on rates

Fed wants balance sheet to align with rate policy -Daly

U.S. House Democrats move to block Trump's emergency declaration on border

China's desire for close Iran ties unchanged, Xi says ahead of Saudi prince's visit

“Time of the essence,” says May on latest Brussels shuttle

Risk of no-deal Brexit has risen – UK Home Secretary Sajid Javid

Brazil president seeks $270 billion pension savings; Congress has doubts

Japan manufacturing shrinks for first time since 2016 amid trade war – PMI

Australia Jan Employment, 39.1k, 15.0k f’cast, 21.6k prev

Australia Jan Unemployment Rate, 5.0%, 5.0% f’cast, 5.0% prev



Economic Data Ahead

(0200 ET/0700 GMT) Germany Jan CPI Final YY, 1.4% f’cast, 1.4% prev

(0200 ET/0700 GMT) Germany Jan HICP Final YY, 1.7% f’cast, 1.7% prev

(0245 ET/0745 GMT) France Feb Business Climate Mfg, 102 f’cast, 103 prev

(0245 ET/0745 GMT) France Jan CPI (EU Norm) Final YY, 1.4% f’cast, 1.4% prev

(0315 ET/0815 GMT) France Feb Markit Mfg Flash PMI, 51.0 f’cast, 51.2 prev

(0330 ET/0830 GMT) Germany Feb Markit Mfg Flash PMI, 49.7 f’cast, 49.7 prev

(0330 ET/0830 GMT) Germany Feb Markit Service Flash PMI, 52.9 f’cast, 53.0 prev

(0330 ET/0830 GMT) Germany Feb Markit Comp Flash PMI, 52.0 f’cast, 52.1 prev

(0400 ET/0900 GMT) EZ Feb Markit Mfg Flash PMI, 50.3 f’cast, 50.5 prev

(0400 ET/0900 GMT) EZ Feb Markit Serv Flash PMI, 51.4 f’cast, 51.2 prev

(0400 ET/0900 GMT) EZ Feb Markit Comp Flash PMI, 51.1 f’cast, 51.0 prev



Key Events Ahead

(0300 ET/0800 GMT) ECB chief economist Peter Praet speaks at a conference in Luxembourg

(0400 ET/0900 GMT) President of the European Commission Jean-Claude Juncker speaks in Brussels

(0830 ET/1330 GMT) ECB chief economist Peter Praet participates in a panel discussion in Brussels

(0850 ET/1350 GMT) Atlanta Fed President Raphael Bostic to speak on the economic outlook and monetary policy in Atlanta

(1250 ET/1750 GMT) Bank of Canada Governor Stephen Poloz speaks in Montreal



FX Beat

DXY: The dollar index rebounded from a 2-week low after the Fed, in the minutes of its latest meeting in January, stated that the U.S. economy and its labour market remained robust, prompting expectations of at least one more interest rate hike this year. The greenback against a basket of currencies trades 0.05 percent up at 96.56, having touched a low of 96.29 on Wednesday, its lowest since February 6. FxWirePro's Hourly Dollar Strength Index stood at -101.47 (Highly Bearish) by 0400 GMT.

EUR/USD: The euro steadied, after easing from a 2-week peak in the previous session, following German Finance Minister Olaf Scholz's comments, citing that Germany and France broadly agreed a detailed proposal for a new eurozone budget and will present their final joint position in the coming days. The European currency traded 0.1 percent up at 1.1348, having touched a high of 1.1371 on Wednesday, its highest since Feb. 6. FxWirePro's Hourly Euro Strength Index stood at 48.60 (Neutral) by 0400 GMT. Investors’ attention will remain on a series of data from the Eurozone economies, and EZ Markit prelim PMI's ahead of the U.S. unemployment benefit claims, durable goods, and Markit flash PMI's. Immediate resistance is located at 1.1368 (Feb.7 High), a break above targets 1.1394 (Jan. 23 High). On the downside, support is seen at 1.1314 (5-DMA), a break below could drag it till 1.1289 (Feb. 18 Low).

USD/JPY: The dollar eased, halting a 3-day rallying, as investors turned cautious after U.S. President Donald Trump stated that the United States would impose tariffs on European car imports if it cannot reach a trade deal with the European Union. The major was trading 0.05 percent down at 110.78, having hit a high of 110.95 on Wednesday, its highest since February 14. FxWirePro's Hourly Yen Strength Index stood at -121.83 (Highly Bearish) by 0400 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims, durable goods, and Markit flash PMI's. Immediate resistance is located at 111.05 (Feb. 13 Low), a break above targets 111.40 (Dec. 26 Low). On the downside, support is seen at 110.25 (Feb.15 Low), a break below could take it lower at 109.60 (Feb. 7 Low).

GBP/USD: Sterling declined, extending previous session losses, following the decision of three lawmakers to quit the Conservative Party over British Prime Minister Theresa May's Brexit policy. The major traded 0.05 percent down at 1.3045, having hit a high of 1.3109 on Wednesday; it’s highest since February 1. FxWirePro's Hourly Sterling Strength Index stood at 159.61 (Highly Bullish) 0400 GMT. Investors’ attention will remain on BoE Haldane's speech, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3103 (Feb. 4 High), a break above could take it near 1.3160 (January 31 High). On the downside, support is seen at 1.2998 (21-DMA), a break below targets 1.2943 (5-DMA). Against the euro, the pound was trading 0.2 percent down at 86.99 pence, having hit a high of 86.72 on Tuesday, it’s highest since Jan. 29.

AUD/USD: The Australian dollar rose to a 2-week peak after data showed domestic jobs growth surpassed all expectations in January as firms took on more full-time staff while the jobless rate stayed at its lowest in seven years. However, the major turned lower after Westpac Banking Corp projected cuts in the official cash rate later this year, citing slowing economic growth and lukewarm inflation. The Aussie trades 0.9 percent down at 0.7095, having hit a high of 0.7206 earlier; it’s highest since February 6. FxWirePro's Hourly Aussie Strength Index stood at 28.80 (Neutral) by 0400 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7124 (Feb.18 Low), a break below targets 0.7089 (Feb. 7 Low). On the upside, resistance is located at 0.7235 (January 11 High), a break above could take it near 0.7264 (Feb. 5 High).

NZD/USD: The New Zealand dollar plunged, extending losses from the prior session, as the greenback gained after minutes from the Federal Reserve's last meeting revived expectations for a possible U.S. rate hike this year. The Kiwi trades 0.5 percent down at 0.6826, having touched a high of 0.6893 on Monday, its highest level Feb. 6. FxWirePro's Hourly Kiwi Strength Index was at -100.37 (Highly Bearish) by 0400 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6911 (Dec. 11 High), a break above could take it near 0.6941 (Feb. 1 High). On the downside, support is seen at 0.6804 (10-DMA), a break below could drag it below 0.6766 (Feb. 6 Low).



Equities Recap

Asian shares surged to fresh 4-1/2-month highs as U.S.-China trade talks hinted of progress towards a deal in their tariff war.

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

Tokyo's Nikkei gained 0.4 percent to 21,507.34 points, Australia's S&P/ASX 200 index surged 0.7 percent to 6,139.20 points and South Korea's KOSPI rallied 0.1 percent to 2,232.38 points.

Shanghai composite index rose 0.4 percent to 2,770.99 points, while CSI300 index traded 0.5 percent up at 3,469.28 points.

Hong Kong’s Hang Seng traded 0.3 percent higher at 28,587.58 points. Taiwan shares added 0.5 percent to 10,319.53 points.



Commodities Recap

Crude Oil prices surged, hovering near to its 2019 highs, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, although slowing growth in the global economy limited the upside. International benchmark Brent crude was trading 0.2 percent up at $67.21 per barrel by 0420 GMT, having hit a high of $67.36 on Wednesday, its highest since November 19. U.S. West Texas Intermediate was trading 0.3 percent higher at $57.39 a barrel, after rising as high as $57.57 on Wednesday, its highest since the November 16.

Gold prices steadied near a 10-month peak, as the dollar held firm in the wake of minutes from the latest U.S. Federal Reserve meeting that stoked expectations of a possible rate hike later in the year. Spot gold gained 0.2 percent to $1,340.10 per ounce by 0424 GMT, having touched a high of $1,346.61 per ounce on Wednesday, its highest level since April 20. U.S. gold futures were down 0.4 percent at $1,342.5 per ounce.









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#444

Post by B0N3 » Fri Feb 22, 2019 7:46 pm

Asia Roundup:
Aussie rebounds on RBA Governor Lowe's comments, greenback rallies as U.S. Treasury yields surge, Asian shares consolidate –
Friday, February 22nd, 2019







Market Roundup

U.S., China haggle over toughest issues in trade war talks

Trump to meet Chinese Vice Premier Liu He on Friday -White House

China sees “enormous potential” in Saudi economy as crown prince visits

China's January home price growth slips to 9-month low

Bank of Canada head says path back to neutral rates 'highly uncertain'

EU debates how and when to start trade talks with Trump

Australia seeks to reassure investors over coal ban at China port

Australia's central bank says next rate move could still be up

RBNZ proposes capital ratio increase to 16 pct for top banks

U.S.-based leveraged loan funds extend cash withdrawals -Lipper

Foreign CB US debt holdings +$5.069 bln to $3.431 tln Feb 21 week

Treasuries +$339 mln to $3.036 tln, agencies +4.561 bln to $324.688 bln

Japan Jan CPI, Core Nationwide YY, 0.8%, 0.8% f’cast, 0.7% prev

Japan Jan CPI, Overall Nationwide, 0.2%, 0.3% prev



Economic Data Ahead

(0400 ET/0900 GMT) Germany Feb Ifo Business Climate New, 99.0 f’cast, 99.1 prev

(0400 ET/0900 GMT) Germany Feb Ifo Curr Conditions New, 103.9 f’cast, 104.3 prev

(0400 ET/0900 GMT) Germany Feb Ifo Expectations New, 94.2 f’cast, 94.2 prev

(0500 ET/1000 GMT) EZ Jan HICP Final MM, -1.1% f’cast, 0.0% prev

(0500 ET/1000 GMT) EZ Jan HICP Final YY, 1.4% f’cast, 1.4% prev

(0500 ET/1000 GMT) EZ Jan HICP-X F,E,A&T Final YY, 1.1% f’cast, 1.1% prev



Key Events Ahead

(0330 ET/0830 GMT) Swedish Central Bank minutes from the monetary policy will be published in Stockholm

(0400 ET/0900 GMT) Press conference with Austrian Federal Reserve Chairman and ECB Council member Ewald Nowotny in Brussels

(0840 ET/1340 GMT) Atlanta Fed President Raphael Bostic speaks in New York

(1000 ET/1500 GMT) Bank of France Governor François Villeroy speaks in Lisbon

(1015 ET/1515 GMT) New York Fed President John Williams and San Francisco Fed President Mary Daly participates in a panel discussion in New York

(1115 ET/1615 GMT) ECB President Mario Draghi speaks in Bologna, Italy

(1200 ET/1700 GMT) Fed Vice Chairman Richard Clarida speaks in New York

(1230 ET/1730 GMT) New York Fed Executive Vice President Simon Potter speaks in New York

(1330 ET/1830 GMT) Fed's Bullard, Harker and Quarles participates in panel in New York

(1730 ET/2230 GMT) New York Fed President John Williams speaks in New York



FX Beat

DXY: The dollar index gained, underpinned by a rise in the U.S. Treasury yields. The greenback against a basket of currencies trades 0.05 percent up at 96.65, having touched a low of 96.29 on Wednesday, its lowest since February 6. FxWirePro's Hourly Dollar Strength Index stood at 43.58 (Neutral) by 0500 GMT.

EUR/USD: The euro consolidated within narrow ranges, as investors’ awaited German Ifo business climate index due later in the session for potential catalysts for the common currency. The European currency traded flat at 1.1348, having touched a high of 1.1371 on Wednesday, its highest since Feb. 6. FxWirePro's Hourly Euro Strength Index stood at 48.04 (Neutral) by 0500 GMT. Investors’ attention will remain on Eurozone consumer price index, ahead of series of speeches by Fed officials. Immediate resistance is located at 1.1368 (Feb.7 High), a break above targets 1.1394 (Jan. 23 High). On the downside, support is seen at 1.1308 (10-DMA), a break below could drag it till 1.1289 (Feb. 18 Low).

USD/JPY: The dollar surged, reversing some of its previous session losses, as markets continue to closely watch talks between U.S. and Chinese trade negotiators in Washington, with little more than a week left before a U.S.-imposed deadline for an agreement expires. The major was trading 0.1 percent up at 110.79, having hit a high of 110.95 on Wednesday, its highest since February 14. FxWirePro's Hourly Yen Strength Index stood at 43.58 (Neutral) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of series of speeches by Fed officials. Immediate resistance is located at 111.05 (Feb. 13 Low), a break above targets 111.40 (Dec. 26 Low). On the downside, support is seen at 110.25 (Feb.15 Low), a break below could take it lower at 109.60 (Feb. 7 Low).

GBP/USD: Sterling eased, extending losses for the third straight session, on concerns that Britain could leave the EU bloc on the March 29 exit date without a deal, if Prime Minister Theresa May fails to secure changes to her Brexit deal from Brussels. The major traded flat at 1.3033, having hit a high of 1.3109 on Wednesday; it’s highest since February 1. FxWirePro's Hourly Sterling Strength Index stood at 75.45 (Slightly Bullish) 0500 GMT. Immediate resistance is located at 1.3103 (Feb. 4 High), a break above could take it near 1.3160 (January 31 High). On the downside, support is seen at 1.2996 (21-DMA), a break below targets 1.2928 (10-DMA). Against the euro, the pound was trading 0.1 percent down at 86.98 pence, having hit a high of 86.72 on Tuesday, it’s highest since Jan. 29.

AUD/USD: The Australian dollar rebounded from a 9-day low touched in the previous session, after Reserve Bank of Australia Governor Philip Lowe stated that the outlook for the economy remained positive, indicating no inclination to ease anytime soon. The Aussie trades 0.1 percent up at 0.7097, having hit a high of 0.7206 the day before; it’s highest since February 6. FxWirePro's Hourly Aussie Strength Index stood at -89.74 (Slightly Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7060 (Feb.8 Low), a break below targets 0.7016 (Dec. 27 Low). On the upside, resistance is located at 0.7135 (Feb 13 High), a break above could take it near 0.7173 (Feb. 19 High).

NZD/USD: The New Zealand dollar slumped to an over 1-week low after Reserve Bank of New Zealand proposed capital ratio increase to 16 percent for top banks. The Kiwi trades 0.3 percent down at 0.6780, having touched a low of 0.6757, its lowest level Feb. 13. FxWirePro's Hourly Kiwi Strength Index was at -140.53 (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 0.6850 (5-DMA), a break above could take it near 0.6911 (Dec. 11 High). On the downside, support is seen at 0.6744 (Feb. 7 Low), a break below could drag it below 0.6719 (Feb. 12 Low).



Equities Recap

Asian shares consolidated within narrow, as a deteriorating global economic outlook outweighed signs of progress in trade talks between China and the United States.

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

Tokyo's Nikkei fell 0.2 percent to 21,425.51 points, Australia's S&P/ASX 200 index surged 0.5 percent to 6,167.30 points and South Korea's KOSPI rallied 0.1 percent to 2,230.50 points.

Shanghai composite index rose 1.8 percent to 2,801.24 points, while CSI300 index traded 2.2 percent up at 3,517.00 points.

Hong Kong’s Hang Seng traded 0.3 percent higher at 28,711.67 points. Taiwan shares added 0.05 percent to 10,322.92 points.



Commodities Recap

Crude Oil prices declined after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by producer cartel OPEC to withhold supply and tighten global markets. International benchmark Brent crude was trading 0.1 percent up at $66.88 per barrel by 0504 GMT, having hit a high of $67.36 on Wednesday, its highest since November 19. U.S. West Texas Intermediate was trading 0.05 percent higher at $56.86 a barrel, after rising as high as $57.56 on Thursday, its highest since the November 16.

Gold prices rose as optimism over U.S.-China trade talks pressured the dollar. Spot gold was trading 0.1 percent up at $1,324.59 per ounce by 0523 GMT, having touched a high of $1,346.61 per ounce on Wednesday, its highest level since April 20. U.S. gold futures were steady at $1,327.5 per ounce.









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#445

Post by B0N3 » Mon Feb 25, 2019 6:40 pm

Asia Roundup:
Kiwi rallies as retail sales volumes surge, dollar gains against yen after Trump delays China tariffs deadline; Asian shares at 5-month peak –
Monday, February 25th, 2019







Market Roundup

Trump delays tariff hike on Chinese goods, citing trade talk progress

Trump happy if North Korea doesn't test weapons; peace deal a possibility

U.S. Democrats seek ways to counter Trump's economic message

Japan PM Abe's adviser says BOJ can shelve its price goal

British PM May seeks more time: promises Brexit deal vote by March 12

UK services industry gloomiest since 2009 crisis – CBI

After Venezuelan troops block aid, Maduro faces 'diplomatic siege'



Economic Data Ahead

No major economic data scheduled



Key Events Ahead

(1100 ET/1600 GMT) Fed Vice Chairman Richard Clarida to participate in “Fed Listens: A Conversation with Community Leaders in Southern Dallas”

(1250 ET/1715 GMT) Riksbank Governor Stefan Ingves to give his view on economic developments at an event in Uppsala, Sweden

(1800 ET/2300 GMT) Fed Vice Chairman Richard Clarida and Dallas Fed President Robert Kaplan participates in an event in Dallas

(1830 ET/2330 GMT) Reserve Bank of New Zealand Deputy Governor Geoff Bascand speaks at an event in Wellington



FX Beat

DXY: The dollar index consolidated within narrow ranges after the U.S. president said he would plan a summit meeting with Chinese President Xi Jinping at his Mar-a-Lago estate in Florida to conclude an agreement, assuming the trade talks make additional progress. The greenback against a basket of currencies trades 0.05 percent up at 96.44, having touched a low of 96.29 on Wednesday, its lowest since February 6. FxWirePro's Hourly Dollar Strength Index stood at -91.91 (Slightly Bullish) by 0500 GMT.

EUR/USD: The euro rose, halting a 3-day losing streak, as the greenback slightly eased after U.S. Democratic state governors said their party needs to challenge President Donald Trump's record on the economy as he seeks re-election next year. The European currency traded 0.1 percent at 1.1341, having touched a high of 1.1371 on Wednesday, its highest since Feb. 6. FxWirePro's Hourly Euro Strength Index stood at -91.91 (Slightly Bearish) by 0500 GMT. Investors’ attention will remain on U.S. wholesale inventories, Chicago Fed National Activity Index, Dallas Fed manufacturing business index and Fed Clarida’s speech, amid a lack of economic data from the Eurozone docket. Immediate resistance is located at 1.1368 (Feb.7 High), a break above targets 1.1394 (Jan. 23 High). On the downside, support is seen at 1.1309 (10-DMA), a break below could drag it till 1.1289 (Feb. 18 Low).

USD/JPY: The dollar steadied after U.S. President Donald Trump said he will delay increasing tariffs on Chinese goods on March 1, citing significant progress in trade talks. The major was trading 0.05 percent up at 110.66, having hit a high of 110.95 on Wednesday, its highest since February 14. FxWirePro's Hourly Yen Strength Index stood at -27.39 (Neutral) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of U.S. wholesale inventories, Chicago Fed National Activity Index, Dallas Fed manufacturing business index and Fed Clarida’s speech. Immediate resistance is located at 111.05 (Feb. 13 Low), a break above targets 111.40 (Dec. 26 Low). On the downside, support is seen at 110.25 (Feb.15 Low), a break below could take it lower at 109.60 (Feb. 7 Low).

GBP/USD: Sterling surged after the European Union's Brexit negotiator, Michel Barnier, stated that he could not rule out the possibility that Britain's EU withdrawal would be pushed back. The major traded 0.1 percent up at 1.3068, having hit a high of 1.3109 on Wednesday; it’s highest since February 1. FxWirePro's Hourly Sterling Strength Index stood at 69.55 (Bullish) 0500 GMT. Immediate resistance is located at 1.3103 (Feb. 4 High), a break above could take it near 1.3160 (January 31 High). On the downside, support is seen at 1.3024 (5-DMA), a break below targets 1.2996 (21-DMA). Against the euro, the pound was trading flat at 86.77 pence, having hit a high of 86.66 on Thursday, it’s highest since Jan. 29.

AUD/USD: The Australian dollar rose, extending previous session losses, boosted by improved risk sentiment across Asian markets on hopes the United States and China will soon resolve their trade war. The Aussie trades 0.3 percent up at 0.7146, having hit a high of 0.7206 on Thursday; it’s highest since February 6. FxWirePro's Hourly Aussie Strength Index stood at 54.82 (Bullish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7060 (Feb.8 Low), a break below targets 0.7016 (Dec. 27 Low). On the upside, resistance is located at 0.7173 (Feb. 19 High), a break above could take it near 0.7206 (Feb. 21 High).

NZD/USD: The New Zealand dollar rallied to a near 1-week peak after data showed domestic retail sales volumes rose 1.7 percent in the fourth quarter, a sharp pick up from the 0.3 percent growth seen in the previous three-month period. The Kiwi trades 0.4 percent up at 0.6867, having touched a high of 0.6852, its highest level Feb. 20. FxWirePro's Hourly Kiwi Strength Index was at 41.48 (Neutral) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6893 (Feb. 18 High), a break above could take it near 0.6941 (Feb. 1 High). On the downside, support is seen at 0.6819 (10-DMA), a break below could drag it below 0.6744 (Feb. 7 Low).



Equities Recap

Asian shares rallied to a 5-month peak after U.S. President Donald Trump confirmed he would delay a planned increase on Chinese imports as talks between the two economies made substantial progress.

MSCI's broadest of Asia-Pacific shares outside Japan jumped 0.5 percent.

Tokyo's Nikkei surged 0.5 percent to 21,529.03 points, Australia's S&P/ASX 200 index advanced 0.3 percent to 6,186.30 points and South Korea's KOSPI rallied 0.05 percent to 2,231.69 points.

Shanghai composite index rose 4.3 percent to 2,923.90 points, while CSI300 index traded 4.4 percent up at 3,676.05 points.

Hong Kong’s Hang Seng traded 0.2 percent higher at 28,880.06 points. Taiwan shares added 0.7 percent to 10,390.93 points.



Commodities Recap

Crude Oil prices declined despite Washington and China edging closer to a trade deal that dampened fears over the outlook for global economic growth. International benchmark Brent crude was trading 0.3 percent up at $66.79 per barrel by 0427 GMT, having hit a high of $67.70 on Friday, its highest since November 19. U.S. West Texas Intermediate was trading 0.2 percent lower at $57.04 a barrel, after rising as high as $57.79 on Friday, its highest since the November 16.

Gold prices surged as the greenback slightly eased after U.S. President Donald Trump said he would delay an increase in tariffs on Chinese goods as trade talks between the two nations were making progress. Spot gold was 0.3 percent up at $1,331.17 per ounce at 0438 GMT, having touched a high of $1,346.61 per ounce on Wednesday, its highest level since April 20. U.S. gold futures dipped 0.2 percent to $1,330.8 per ounce.








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#446

Post by B0N3 » Tue Feb 26, 2019 7:35 pm

Asia Roundup:
Kiwi steadies as U.S.-China trade talks advance, greenback eases ahead of Fed's Powell testimony to U.S. Congress, Asian shares off 5-month peak – Tuesday, February 26th, 2019







Market Roundup

Trump says 'signing summit' with Xi for U.S.-China deal possible soon

U.S. lawmakers, industry fret over Trump's China trade deal eagerness

N.Korea's Kim arrives to warm welcome in Vietnam; Trump on the way

Fed's Powell heads to U.S. Congress amid shifting landscape

Fed's Clarida says U.S. economy in a good place

UK PM May considers delaying Brexit deadline -Bloomberg

Pakistan says Indian aircraft “released a payload” after crossing frontier, no casualties

RBNZ capital hike proposal to have minor impact on bank lending rates, economy-dep gov

Venezuela hit with new U.S. sanctions after clashes over food aid on border



Economic Data Ahead

(0200 ET/0700 GMT) Germany Mar GfK Consumer Sentiment, 10.8 f’cast, 10.8 prev

(0245 ET/0745 GMT) France Feb Consumer Confidence, 92 f’cast, 91 prev

(0430 ET/0930 GMT) Great Britain Jan UK Finance Mortgage Apps, 38.779k prev



Key Events Ahead

(0230 ET/0730 GMT) Spanish Economy Minister Nadia Calvino and Bank of Spain Governor Pablo Hernandez de Cos attend economy event in Madrid

(0830 ET/1330 GMT) Philadelphia Fed issues Nonmanufacturing Business Outlook Survey for February in Philadelphia

(0930 ET/1430 GMT) ECB’s Yves Mersch speaks at a conference in Brussels

(1000 ET/1500 GMT) Fed Chairman Jerome Powell to testify on U.S. monetary policy and the economy before the Senate Banking Committee in Washington



FX Beat

DXY: The dollar index eased to a 6-day low, as investors now await testimony from U.S. Federal Reserve Chairman Jerome Powell before a U.S. Senate committee after the central bank shifted to a more cautious stance on further interest rate hikes last month. The greenback against a basket of currencies trades 0.05 percent down at 96.38, having touched a low of 96.32, its lowest since February 20. FxWirePro's Hourly Dollar Strength Index stood at -15.25 (Neutral) by 0500 GMT.

EUR/USD: The euro consolidated within narrow ranges, as investors awaited the German Gfk consumer confidence that could provide further clues on the strength of the economy. The European currency traded flat at 1.1358, having touched a high of 1.1371 on Wednesday, its highest since Feb. 6. FxWirePro's Hourly Euro Strength Index stood at 66.83 (Bearish) by 0500 GMT. Investors’ attention will remain on German Gfk consumer confidence survey, ahead of U.S. housing start, building permits, housing price index, consumer confidence and Fed Chair Powel's testimony. Immediate resistance is located at 1.1394 (Jan. 23 High), a break above targets 1.1417 (Jan. 25 High). On the downside, support is seen at 1.1318 (10-DMA), a break below could drag it till 1.1289 (Feb. 18 Low).

USD/JPY: The dollar declined, retreating from a 2-month peak touched in the previous session, as investors cautiously waited to see if Washington and Beijing can secure a trade deal. The major was trading 0.05 percent down at 110.66, having hit a high of 111.23 on Monday, its highest since December 27. FxWirePro's Hourly Yen Strength Index stood at -71.24 (Bearish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of U.S. housing start, building permits, housing price index, consumer confidence and Fed Chair Powel's testimony. Immediate resistance is located at 111.19 (Dec. 24 Low), a break above targets 111.40 (Dec. 26 Low). On the downside, support is seen at 110.25 (Feb.15 Low), a break below could take it lower at 109.60 (Feb. 7 Low).

GBP/USD: Sterling rallied to an over 4-week peak after Bloomberg News reported that British Prime Minister Theresa May was considering delaying the March 29 deadline for U.K.'s exit from the European Union. The major traded 0.2 percent up at 1.3124, having hit a high of 1.3149 earlier; it’s highest since January 31. FxWirePro's Hourly Sterling Strength Index stood at 49.85 (Neutral) 0500 GMT. Immediate resistance is located at 1.3160 (January 31 High), a break above could take it near 1.3199 (January 29High). On the downside, support is seen at 1.3050 (February 25 Low), a break below targets 1.2991 (21-DMA). Against the euro, the pound was trading 0.2 percent up at 86.52 pence, having hit a high of 86.35, it’s highest since Jan. 28.

AUD/USD: The Australian dollar eased as the Reserve Bank of Australia has taken a dovish turn on policy, stating that economic risks were now more balanced and the next move in interest rates might be a cut rather than a hike. The Aussie trades 0.2 percent down at 0.7155, having hit a high of 0.7206 on Thursday; it’s highest since February 6. FxWirePro's Hourly Aussie Strength Index stood at 44.52 (Neutral) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7103 (Feb.19 Low), a break below targets 0.7060 (Feb.8 Low). On the upside, resistance is located at 0.7206 (Feb. 21 High), a break above could take it near 0.7245 (Feb. 6 High).

NZD/USD: The New Zealand dollar steadied after rising to a near 3-week high in the previous session as signs of progress in the U.S.-China trade dispute were taken as a positive for the Chinese economy and commodity prices. The Kiwi trades flat at 0.6881, having touched a high of 0.6901 on Monday, its highest level Feb. 6. FxWirePro's Hourly Kiwi Strength Index was at 82.33 (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 0.6941 (Feb. 1 High), a break above could take it near 0.6969 (Dec. 4 High). On the downside, support is seen at 0.6853 (5-DMA), a break below could drag it below 0.6809 (Feb. 15 Low).



Equities Recap

Asian shares slumped from a 5-month peak as investors waited to see if Washington and Beijing can clinch a trade deal.

MSCI's broadest of Asia-Pacific shares outside Japan slumped 0.5 percent.

Tokyo's Nikkei fell 0.4 percent to 21,449.39 points, Australia's S&P/ASX 200 index declined 0.9 percent to 6,128.40 points and South Korea's KOSPI eased 0.2 percent to 2,229.06 points.

Shanghai composite index rose 0.7 percent to 2,984.12 points, while CSI300 index traded 0.2 percent up at 3,736.86 points.

Hong Kong’s Hang Seng traded 0.6 percent lower at 28,793.036 points. Taiwan shares added 0.05 percent to 10,391.55 points.



Commodities Recap

Crude Oil prices declined, extending losses from the previous session after U.S. President Donald Trump called on OPEC to ease its efforts to boost the market. International benchmark Brent crude was trading 0.4 percent down at $64.50 per barrel by 0435 GMT, having hit a high of $67.70 on Friday, its highest since November 19. U.S. West Texas Intermediate was trading 0.5 percent lower at $55.10 a barrel, after rising as high as $57.79 on Friday, its highest since the November 16.

Gold steadied, as the greenback eased after Fed policymakers indicated they favour patience before raising key lending rates again due to recent signs of slowing economic growth. Spot gold was 0.1 percent up at $1,329.01 per ounce at 0458 GMT, having touched a high of $1,346.61 per ounce on Wednesday, its highest level since April 20. while U.S. gold futures were steady at $1,329.9 per ounce.








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#447

Post by B0N3 » Thu Feb 28, 2019 6:31 pm

Asia Roundup:
Aussie gains as business investment surge, dollar eases against yen as optimism over U.S.-China trade deal fades, Asian shares volatile –
Thursday, February 28th, 2019







Market Roundup

Trump in 'no rush' for deal with North Korea's Kim on second day of summit

US trade chief sees long-term China challenges, continued tariff threat

Fed to stop shrinking portfolio this year, Powell says

Theresa May gains two weeks' Brexit reprieve from British lawmakers

UK consumer morale edges up from 5-year low as Brexit uncertainty persists

China Feb factory activity shrinks to 3-year low, export orders worst in a decade

China consumers squeezed in 2018 as income gains slow, living costs rise

World powers call for calm as India and Pakistan trade fire in Kashmir

Japan Jan Industrial Output Prelim MM SA, -3.7%, -2.5% f’cast, -0.1% prev

Japan Jan Retail Sales YY, 0.6%, 1.1% f’cast, 1.3% prev

Australia Q4 Capital Expenditure, 2.0%, 0.5% f’cast, -0.5% prev, 0.0% rvsd

Australia home loan growth weakest on record despite heavy discounting



Economic Data Ahead

(0200 ET/0700 GMT) Great Britain Feb Nationwide house price mm, 0.0% f’cast, 0.3% prev

(0200 ET/0700 GMT) Great Britain Feb Nationwide house price yy, 0.4% f’cast, 0.1% prev

(0200 ET/0700 GMT) Germany Jan Import Prices YY, 1.3% f’cast, 1.6% prev

(0245 ET/0745 GMT) France Jan Consumer Spending MM, 1.0% f’cast, -1.5% prev

(0245 ET/0745 GMT) France Q4 GDP Detailed QQ, 0.3% f’cast, 0.3% prev

(0245 ET/0745 GMT) France Feb CPI (EU Norm) Prelim YY, 1.7% f’cast, 1.4% prev

(0800 ET/1300 GMT) Germany Feb CPI Prelim MM, 0.5% f’cast, -0.8% prev

(0800 ET/1300 GMT) Germany Feb CPI Prelim YY, 1.5% f’cast, 1.4% prev

(0800 ET/1300 GMT) Germany Feb HICP Prelim MM, 0.6% f’cast, -1.0% prev

(0800 ET/1300 GMT) Germany Feb HICP Prelim YY, 1.7% f’cast, 1.7% prev



Key Events Ahead

(0800 ET/1300 GMT) Fed Vice Chairman Richard Clarida speaks at an event in Washington

(0850 ET/1350 GMT) Atlanta Fed President Raphael Bostic participates in a conference in Atlanta

(1215 ET/1715 GMT) Philadelphia Fed President Patrick Harker speaks at an event in Philadelphia

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



FX Beat

DXY: The dollar index held firm after Federal Reserve Chairman Jerome Powell stated that the central bank will stop shrinking its $4 trillion balance sheet later this year. The greenback against a basket of currencies stood at 96.11, having touched a low of 95.88 on Wednesday, its lowest since February 5. FxWirePro's Hourly Dollar Strength Index stood at -31.37 (Neutral) by 0500 GMT.

EUR/USD: The euro steadied after easing from a 3-week peak in the previous session on Bundesbank President Jens Weidmann's comments, citing that German economic weakness may last longer than expected, but the European Central Bank need not formally delay a planned interest rate increase. The European currency traded 0.1 percent up at 1.1375, having touched a high of 1.1403 on Wednesday, its highest since Feb. 6. FxWirePro's Hourly Euro Strength Index stood at 37.63 (Neutral) by 0500 GMT. Investors’ attention will remain on a series of data from Eurozone economies, ahead of the U.S. unemployment benefit claims, prelim gross domestic product and Fed Bostic's speech. Immediate resistance is located at 1.1417 (Jan. 25 High), a break above targets 1.1443 (Jan. 28 High). On the downside, support is seen at 1.1335 (10-DMA), a break below could drag it till 1.1289 (Feb. 18 Low).

USD/JPY: The dollar eased against the Japanese yen after U.S. Trade Representative Robert Lighthizer told a Congressional hearing it was too early to predict an outcome in U.S.-China trade negotiations. The major was trading 0.1 percent down at 110.91, having hit a low of 110.35 the day before, its lowest since February 15. FxWirePro's Hourly Yen Strength Index stood at -83.39 (Slightly Bearish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims, prelim gross domestic product and Fed Bostic's speech. Immediate resistance is located at 111.19 (Dec. 24 Low), a break above targets 111.40 (Dec. 26 Low). On the downside, support is seen at 110.25 (Feb.15 Low), a break below could take it lower at 109.60 (Feb. 7 Low).

GBP/USD: Sterling consolidated near a 7-1/2 month peak, on growing speculation that a no-deal Brexit was less likely and that Britain's departure from the European Union would be delayed. The major traded flat at 1.3302, having hit a high of 1.3350 on Wednesday; it’s highest since July 9. FxWirePro's Hourly Sterling Strength Index stood at 141.22 (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 1.3362 (July 9 High), a break above could take it near 1.3424 (June 12 High). On the downside, support is seen at 1.3200, a break below targets 1.3138 (Oct. 16 Low). Against the euro, the pound was trading 0.1 percent down at 85.50 pence, having hit a high of 85.28 on Wednesday, it’s highest since May 2017

AUD/USD: The Australian dollar gained after data showed domestic business investment surpassed expectations with the biggest jump in three years last quarter, and companies boosted spending plans for the coming year. However, the major trimmed gains following a disappointing reading on Chinese manufacturing. The Aussie trades 0.1 percent up at 0.7145, having hit a high of 0.7198 on Wednesday; it’s highest since February 21. FxWirePro's Hourly Aussie Strength Index stood at -73.46 (Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7103 (Feb.19 Low), a break below targets 0.7060 (Feb.8 Low). On the upside, resistance is located at 0.7206 (Feb. 21 High), a break above could take it near 0.7245 (Feb. 6 High).

NZD/USD: The New Zealand dollar surged after dairy giant Fonterra cut its annual earnings outlook but raised its 2018/19 forecast for milk prices paid to farmers. However, surveys indicating factory activity in China eased for the third straight month in February dented the bid tone around the major. The Kiwi trades 0.05 percent up at 0.6859, having touched a high of 0.6903 on Tuesday, its highest level Feb. 6. FxWirePro's Hourly Kiwi Strength Index was at -120.53 (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 0.6941 (Feb. 1 High), a break above could take it near 0.6969 (Dec. 4 High). On the downside, support is seen at 0.6814 (Feb. 19 Low), a break below could drag it below 0.6797 (Feb. 21 Low).



Equities Recap

Asian shares traded in a volatile market after cautious comments from U.S. Trade Representative Robert Lighthizer deflated optimism over China and the United States trade deal.

MSCI's broadest of Asia-Pacific shares outside Japan eased 0.05 percent.

Tokyo's Nikkei declined 0.8 percent to 21,390.26 points, Australia's S&P/ASX 200 index gained 0.3 percent to 6,169.00 points and South Korea's KOSPI eased 1.1 percent to 2,210.03 points.

Shanghai composite index fell 0.5 percent to 2,939.43 points, while CSI300 index traded 0.3 percent down at 3,668.02 points.

Hong Kong’s Hang Seng traded 0.1 percent lower at 28,728.72 points.



Commodities Recap

Crude Oil prices gained, supported by supply cuts led by producer club OPEC, although weakening factory output in China and Japan and record U.S. crude output limited upside. International benchmark Brent crude was trading 0.1 percent up at $66.36 per barrel by 0419 GMT, having hit a low of $64.29 on Tuesday, its lowest since February 14. U.S. West Texas Intermediate was trading 0.1 percent lower at $56.87 a barrel, after falling as low as $55.00 on Tuesday, its lowest since the February 15.

Gold prices eased, hovering towards a near 2-week low touched in the previous session, as the dollar recouped losses after cautious comments from U.S. Trade Representative Robert Lighthizer dented investors' hopes for a closure to the tariff war with China. Spot gold was trading 0.1 percent down at $1,318.64 per ounce at 0452 GMT, having touched a low of $1,316.76 per ounce on Wednesday, its lowest level since Feb. 15. U.S. gold futures were down 0.1 percent $1,320.10 per ounce.








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#448

Post by B0N3 » Fri Mar 01, 2019 7:18 pm

Asia Roundup:
Kiwi gains on better-than-expected Chinese manufacturing PMI, greenback rallies on robust U.S. GDP, Asian shares surge –
Friday, March 1st, 2019







Market Roundup

MSCI to quadruple weighting of China A-shares in its global benchmarks

China Feb Caixin Mfg PMI Final, 49.9, 48.5 f’cast, 48.3 prev

Trump warns he could abandon China trade deal as advisers tout progress

Pompeo says world should have eyes wide open about Chinese tech risks

S.Korea to work with U.S. and N.Korea after failed nuclear talks

Fed's Powell: 'Muted' inflation gives room for wages to rise

Japan Feb CPI Tokyo Ex fresh food YY, 1.1%, 1.0% f’cast, 1.1% prev

Japan Jan Unemployment Rate, 2.5%, 2.4% f’cast, 2.4% prev

Japan Q4 Business Capex (MOF) YY, 5.7%, 4.5% prev

Japan Feb Nikkei Mfg PMI, 48.9, 48.5 prev

Investors favor equity ETFs, junk bonds as risk appetite grows -Lipper

Foreign CB US debt holdings +$10.428 bln to $3.442 tln Feb 27 week

Treasuries +$10.404 bln to $3.046 tln, agencies -681 mln to $324.007 bln.



Economic Data Ahead

(0250 ET/0850 GMT) France Feb Markit Mfg PMI, 51.4 f’cast, 51.4 prev

(0255 ET/0855 GMT) Germany Feb Markit/BME Mfg PMI, 47.6 f’cast, 47.6 prev

(0255 ET/0855 GMT) Germany Feb Unemployment Chg SA, -5k f’cast, -2k prev

(0255 ET/0855 GMT) Germany Feb Unemployment Rate SA, 5.0% f’cast, 5.0% prev

(0400 ET/0900 GMT) EZ Feb Markit Mfg Final PMI, 49.2 f’cast, 49.2 prev

(0430 ET/0930 GMT) Great Britain Jan BOE Consumer Credit, 0.800 bln f’cast, 0.687 bln prev

(0430 ET/0930 GMT) Great Britain Jan Mortgage Lending, 3.900 bln f’cast, 4.112 bln prev

(0430 ET/0930 GMT) Great Britain Jan Mortgage Approvals, 63.400k f’cast, 63.793k prev

(0430 ET/0930 GMT) Great Britain Feb Markit/CIPS Mfg PMI, 52.0 f’cast, 52.8 prev

(0500 ET/1000 GMT) EZ Feb HICP Flash YY, 1.5% f’cast, 1.4% prev

(0500 ET/1000 GMT) EZ Feb HICP-X F&E Flash YY, 1.1% f’cast, 1.2% prev

(0500 ET/1000 GMT) EZ Jan Unemployment Rate, 7.9% f’cast, 7.9% prev



Key Events Ahead

(0400 ET/0900 GMT) Portuguese Central Bank Governor Carlos Costa speaks at a conference in Delphi, Greece

(0415 ET/0915 GMT) Rohan Churm, head of foreign exchange division, Bank of England, speaks at an event in London

(1315 ET/1815 GMT) Atlanta Fed President Raphael Bostic speaks at a conference in Washington



FX Beat

DXY: The dollar index rose, extending gains for the third straight session after data showed U.S. gross domestic product increased at a 2.6 percent annualized rate in the fourth quarter, above forecasts for a 2.3 percent gain. The greenback against a basket of currencies traded 0.05 percent up at 96.27, having touched a low of 95.82 on Thursday, its lowest since February 5. FxWirePro's Hourly Dollar Strength Index stood at 35.98 (Neutral) by 0600 GMT.

EUR/USD: The euro consolidated within narrow ranges, after a survey showed the European Central Bank is set to delay hiking interest rates from record lows until next year amid a slowdown in eurozone economic growth. The European currency traded flat at 1.1371, having touched a high of 1.1419 on Thursday, its highest since Feb. 5. FxWirePro's Hourly Euro Strength Index stood at -33.37 (Neutral) by 0600 GMT. Investors’ attention will remain on a series of data from Eurozone economies and EZ prelim consumer price index, ahead of the U.S. personal consumption expenditures, manufacturing PMI's from both Markit and ISM, and Fed Bostic's speech. Immediate resistance is located at 1.1417 (Jan. 25 High), a break above targets 1.1443 (Jan. 28 High). On the downside, support is seen at 1.1343 (10-DMA), a break below could drag it till 1.1289 (Feb. 18 Low).

USD/JPY: The dollar rallied to a 2-1/2 month peak, underpinned by a surge in the U.S. Treasury yields after data showed U.S. gross domestic product surpassed expectations. However, mounting concerns over a slowdown in global growth dented the bid tone around the dollar. The major was trading 0.3 percent up at 111.72, having hit a high of 111.77, its highest since December 20. FxWirePro's Hourly Yen Strength Index stood at -110.62 (Highly Bearish) by 0600 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. personal consumption expenditures, manufacturing PMI's from both Markit and ISM, and Fed Bostic's speech. Immediate resistance is located at 112.00, a break above targets 112.60 (Dec. 20 High). On the downside, support is seen at 110.66 (Feb.28 Low), a break below could take it lower at 110.25 (Feb.15 Low).

GBP/USD: Sterling eased as investors assessed the continued uncertainty about when Britain will exit the European Union and on what terms. The major traded 0.5 percent down at 1.3255, having hit a high of 1.3350 on Wednesday; it’s highest since July 9. FxWirePro's Hourly Sterling Strength Index stood at 73.66 (Bullish) 0600 GMT. Investors’ attention will remain on developments surrounding Brexit deal, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3362 (July 9 High), a break above could take it near 1.3424 (June 12 High). On the downside, support is seen at 1.3200, a break below targets 1.3138 (Oct. 16 Low). Against the euro, the pound was trading 0.1 percent down at 85.79 pence, having hit a high of 85.28 on Wednesday, it’s highest since May 2017

AUD/USD: The Australian dollar plunged to a 1-week low, on data that showed Australian households have been reining in spending amid sluggish wage growth and sliding home prices. The Aussie trades 0.05 percent down at 0.7091, having hit a low of 0.7085; it’s lowest since February 22. FxWirePro's Hourly Aussie Strength Index stood at -121.23 (Highly Bearish) by 0600 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7060 (Feb.8 Low), a break below targets 0.7016 (Dec.26 Low). On the upside, resistance is located at 0.7206 (Feb. 21 High), a break above could take it near 0.7245 (Feb. 6 High).

NZD/USD: The New Zealand dollar surged after data released earlier in the day showed China's Caixin/Markit Manufacturing Purchasing Managers' Index rose to 49.9 in February, from 48.3 in January, surpassing expectations. The Kiwi trades 0.1 percent up at 0.6816, having touched a high of 0.6903 on Tuesday, its highest level Feb. 6. FxWirePro's Hourly Kiwi Strength Index was at -122.00 (Highly Bearish) by 0600 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6853 (Feb. 22 High), a break above could take it near 0.6941 (Feb. 1 High). On the downside, support is seen at 0.6797 (Feb. 21 Low), a break below could drag it below 0.6774(Feb. 6 Low).



Equities Recap

Asian shares advanced, boosted by a rally in Chinese markets after a survey of China's manufacturing surprised on the higher side.

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

Tokyo's Nikkei rallied 1.02 percent to 21,602.69 points, Australia's S&P/ASX 200 index gained 0.4 percent to 6,192.70 points.

Shanghai composite index rose 1.4 percent to 2,981.56 points, while CSI300 index traded 0.3 percent up at 3,735.88 points.

Hong Kong’s Hang Seng traded 0.5 percent higher at 28,772.70 points.



Commodities Recap

Crude Oil prices rose, extending gains for the fourth straight session, as markets tightened amid output cuts by producer cartel OPEC, however, surging U.S. supply and a global economic slowdown limited the upside. International benchmark Brent crude was trading 0.3 percent up at $66.54 per barrel by 0508 GMT, having hit a low of $64.29 on Tuesday, its lowest since February 14. U.S. West Texas Intermediate was trading 0.2 percent higher at $57.35 a barrel, after falling as low as $55.00 on Tuesday, its lowest since the February 15.

Gold prices slumped to a 2-week low as upbeat U.S. economic data boosted the greenback. Spot gold was trading 0.05 percent down at $1,312.81 per ounce at 0512 GMT, having touched a low of $1,312.17 per ounce earlier, its lowest level since Feb. 15. U.S. gold futures were down 0.1 percent at $1,314.80 per ounce.








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#449

Post by B0N3 » Mon Mar 04, 2019 6:03 pm

Asia Roundup:
Antipodeans gain as U.S.-China inch closer to trade deal, greenback eases on President Trump's comments, Asian shares rally –
Monday, March 4th, 2019







Market Roundup

U.S. and China said to appear close to deal to roll back tariffs

U.S. House panel launches probe into possible obstruction by Trump

BOJ will debate exit plan for easy policy at appropriate time – Kuroda

British PM May promises 1.6 bln pound fund for Brexit-backing towns

Irish consumer sentiment plummets to 4-year low on eve of Brexit

Australia economy hits dry spell as incomes fail to flow

Australia job advertisements post biggest annual drop in 5 years



Economic Data Ahead

(0430 ET/0930 GMT) UK Feb Markit/CIPS Cons PMI, 50.3 f’cast, 50.6 prev

(0430 ET/0930 GMT) EZ Mar Sentix Index, -3.1 f’cast, -3.7 prev

(0500 ET/1000 GMT) EZ Jan Producer Prices MM, 0.3% f’cast, -0.8% prev

(0500 ET/1000 GMT) EZ Jan Producer Prices YY, 2.9% f’cast, 3.0% prev



Key Events Ahead

N/A No major economic data releases



FX Beat

DXY: The dollar index eased after President Donald Trump renewed criticism of the Federal Reserve and said the U.S. central bank's tight monetary policy was contributing to a strong dollar and hurting the country's competitiveness. The greenback against a basket of currencies traded 0.05 percent down at 96.43, having touched a low of 95.82 on Thursday, its lowest since February 5. FxWirePro's Hourly Dollar Strength Index stood at 131.02 (Highly Bullish) by 0500 GMT.

EUR/USD: The euro consolidated within narrow ranges as recent weakness in the euro zone economy continued to dent investors sentiment. The European Central Bank could signal a re-launch of its offer of long-term loans to banks, but looks certain to suggest a rate hike this year would be off the table. The European currency traded flat at 1.1363, having touched a high of 1.1419 on Thursday, its highest since Feb. 5. FxWirePro's Hourly Euro Strength Index stood at 16.08 (Neutral) by 0500 GMT. Investors’ attention will remain on Eurozone sentix investor confidence and producer price index, ahead of the U.S. construction spending and New York business conditions index. Immediate resistance is located at 1.1417 (Jan. 25 High), a break above targets 1.1443 (Jan. 28 High). On the downside, support is seen at 1.1346 (21-DMA), a break below could drag it till 1.1289 (Feb. 18 Low).

USD/JPY: The dollar surged, hovering towards 2-1/2 month peak hit in the prior session, amid hopes the United States and China are close to a deal to end a tariff row that has slowed global economic growth. The major was trading 0.1 percent up at 111.96, having hit a high of 112.07, its highest since December 20. FxWirePro's Hourly Yen Strength Index stood at -38.47 (Neutral) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. construction spending and New York business conditions index. Immediate resistance is located at 112.20, a break above targets 112.60 (Dec. 20 High). On the downside, support is seen at 111.18 (5-DMA), a break below could take it lower at 110.66 (Feb.28 Low).

GBP/USD: Sterling gained, halting a 2-day losing streak, amid receding fears that Britain will leave the European Union without a deal. Last week, the British pound surged to multi-month highs after Prime Minister Theresa May said lawmakers would get to vote on a delay to Brexit if they choose not to approve her withdrawal agreement. The major traded 0.2 percent up at 1.3229, having hit a high of 1.3350 on Wednesday; it’s highest since July 9. FxWirePro's Hourly Sterling Strength Index stood at -30.64 (Neutral) 0500 GMT. Investors’ attention will remain on developments surrounding Brexit deal, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3300, a break above could take it near 1.3362 (July 9 High). On the downside, support is seen at 1.3136 (Jan 28 Low), a break below targets 1.3093 (Feb. 26 Low). Against the euro, the pound was trading 0.2 percent up at 85.88 pence, having hit a high of 85.28 on Wednesday, it’s highest since May 2017

AUD/USD: The Australian dollar rallied, after falling for three straight sessions, following a report from the Wall Street Journal stating that the United States and China could reach a formal agreement at a summit around March 27 given progress in talks between both the economies. The Aussie trades 0.2 percent up at 0.7089, having hit a low of 0.7069 on Friday; it’s lowest since February 12. FxWirePro's Hourly Aussie Strength Index stood at -103.40 (Highly Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7060 (Feb.8 Low), a break below targets 0.7016 (Dec.26 Low). On the upside, resistance is located at 0.7150 (Feb. 22 High), a break above could take it near 0.7206 (Feb. 21 High).

NZD/USD: The New Zealand dollar advanced on signs the United States and China were close to striking a tariff deal to end a tariff row. The Kiwi trades 0.3 percent up at 0.6811, having touched a high of 0.6903 on Tuesday, its highest level Feb. 6. FxWirePro's Hourly Kiwi Strength Index was at -87.05 (Slightly Bearish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6853 (Feb. 22 High), a break above could take it near 0.6941 (Feb. 1 High). On the downside, support is seen at 0.6793 (March. 1 Low), a break below could drag it below 0.6774 (Feb. 6 Low).



Equities Recap

Asian shares surged, boosted by signs the United States and China were close to sealing a tariff deal to end their protracted trade war.

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

Tokyo's Nikkei surged 1.02 percent to 21,822.04 points, Australia's S&P/ASX 200 index advanced 0.4 percent to 6,217.40 points and South Korea's KOSPI fell 0.2 percent to 2,191.94 points.

Shanghai composite index rose 0.8 percent to 3,019.44 points, while CSI300 index traded 0.9 percent up at 3,784.72 points.

Hong Kong’s Hang Seng traded 0.6 percent higher at 28,981.66 points. Taiwan shares shed 0.4 percent to 10,349.88 points.



Commodities Recap

Crude Oil prices surged, boosted by output cuts by producer cartel OPEC and reports that the United States and China are close to a deal to end a tariff row that has slowed global economic growth. International benchmark Brent crude was trading 0.8 percent up at $65.38 per barrel by 0509 GMT, having hit a low of $64.29 on Tuesday, its lowest since February 14. U.S. West Texas Intermediate was trading 0.6 percent higher at $56.06 a barrel, after falling as low as $55.00 on Tuesday, its lowest since the February 15.

Gold prices steadied after declining below the critical $1,300 level in the previous session, as the greenback eased on the prospect of a trade deal between China and the United States. Spot gold rose 0.3 percent at $1,296.09 per ounce as of 0514 GMT, having touched a low of $1,290.09 in the previous session, its lowest since January 25. U.S. gold futures were down 0.2 percent at $1,297.10 an ounce.








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#450

Post by B0N3 » Tue Mar 05, 2019 7:10 pm

Asia Roundup:
Antipodeans slump on downbeat Chinese service PMI, greenback gains after President Trump plans to end India's preferential trade treatment, Asian shares plunge – Tuesday, March 5th, 2019







Market Roundup

China to slash taxes, boost lending to shore up slowing economy

U.S., China 'on the cusp' of possible end to trade war -Pompeo

China commerce minister says U.S. trade talks have been difficult

Trump plans to end India's preferential trade treatment

U.S. intends to end preferential trade treatment for Turkey

Second Canadian minister quits over scandal, Trudeau taking it 'seriously'

UK shoppers slow their spending ahead of Brexit, some stockpile

China's defence budget rise to outpace economic growth target

China Feb Caixin Services PMI, 51.1, 53.6 prev

Japan Feb Services PMI, 52.3, 51.6 prev

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

Australia Q4 Current Account Balance SA in AUD, -7.2 bln, -9.2 bln f’cast, -10.7 bln prev, -10.8 bln rvsd

Australia Q4 Net Exports Contribution, -0.2%, -0.1% f’cast, 0.4% prev



Economic Data Ahead

(0350 ET/0850 GMT) France Feb Markit Serv PMI, 49.8 f’cast, 49.8 prev

(0350 ET/0850 GMT) France Feb Markit Comp PMI, 49.9 f’cast, 49.9 prev

(0355 ET/0855 GMT) Germany Feb Markit Services PMI, 55.1 f’cast, 55.1 prev

(0355 ET/0855 GMT) Germany Feb Markit Comp Final PMI, 52.7 f’cast, 52.7 prev

(0400 ET/0900 GMT) EZ Feb Markit Serv Final PMI, 52.3 f’cast, 52.3 prev

(0400 ET/0900 GMT) EZ Feb Markit Comp Final PMI, 51.4 f’cast, 51.4 prev

(0430 ET/0930 GMT) Great Britain Feb Markit/CIPS Serv PMI, 49.9 f’cast, 50.1 prev

(0500 ET/1000 GMT) EZ Jan Retail Sales MM, 1.2% f’cast, -1.6% prev

(0500 ET/1000 GMT) EZ Jan Retail Sales YY, 1.9% f’cast, 0.8% prev



Key Events Ahead

(0430 ET/0930 GMT) Bank of England's Financial Policy Committee statement from its Feb. 26 meeting in London

(0730 ET/1230 GMT) Boston Fed President Eric Rosengren speaks on the current economic landscape in the US in Boston

(0930 ET/1430 GMT) Minneapolis Fed President Neel Kashkari gives testimony before the Minnesota Senate Finance Committee in St. Paul, Minn

(1035 ET/1535 GMT) BoE Governor Mark Carney participates in House of Lords Economic Affairs Committee hearing in London

(1130 ET/1630 GMT) Richmond Fed President Thomas Barkin speaks at a conference in Richmond, Virginia



FX Beat

DXY: The dollar index rose, hovering towards a near 2-week peak touched in the previous session after U.S. President Donald Trump stated that he plans to end preferential trade treatment for India that allows duty-free entry for $5.6 billion worth of the country's exports to the United States. The greenback against a basket of currencies traded 0.1 percent up at 96.74, having touched a high of 96.82 on Monday, its highest since February 19. FxWirePro's Hourly Dollar Strength Index stood at 90.01 (Slightly Bullish) by 0500 GMT.

EUR/USD: The euro declined, as investors remained cautious ahead of a European Central Bank policy meeting on Thursday, where it is expected to signal a re-launch of its offer of long-term loans to banks. The European currency traded 0.1 percent down at 1.1329, having touched a high of 1.1419 on Thursday, its highest since Feb. 5. FxWirePro's Hourly Euro Strength Index stood at 50.21 (Bullish) by 0500 GMT. Investors’ attention will remain on a series of data from the Eurozone economies and EZ retail sales and Markit Service & Composite PMI's, ahead of the U.S. building permits, new home sales, monthly budget statement and non-manufacturing PMI from both Markit and ISM. Immediate resistance is located at 1.1371 (Feb. 20 High), a break above targets 1.1417 (Jan. 25 High). On the downside, support is seen at 1.1309 (Mar. 4 Low), a break below could drag it till 1.1289 (Feb. 18 Low).

USD/JPY: The dollar surged, hovering towards a 112.00 handle, boosted by a rise in U.S. Treasury yields as recent data, including U.S. fourth-quarter gross domestic product eased fears of a potentially rapid loss in economic momentum. The major was trading 0.2 percent up at 111.92, having hit a high of 112.07 on Friday, its highest since December 20. FxWirePro's Hourly Yen Strength Index stood at -51.73 (Bearish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. building permits, new home sales, monthly budget statement and non-manufacturing PMI from both Markit and ISM. Immediate resistance is located at 112.20, a break above targets 112.60 (Dec. 20 High). On the downside, support is seen at 111.31 (5-DMA), a break below could take it lower at 110.66 (Feb.28 Low).

GBP/USD: Sterling plunged, extending losses for the fourth straight session after data showed British consumers reined in their spending in February ahead of Brexit. Moreover, yesterday's soft data on Britain's construction industry and persisting Brexit uncertainty continued to weigh on the British pound. The major traded 0.1 percent down at 1.3161, having hit a high of 1.3350 on Wednesday; it’s highest since July 9. FxWirePro's Hourly Sterling Strength Index stood at -33.25 (Neutral) 0500 GMT. Investors’ attention will remain on developments surrounding Brexit deal, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.3240 (5-DMA), a break above could take it near 1.3362 (July 9 High). On the downside, support is seen at 1.3093 (Feb. 26 Low), a break below targets 1.3011 (Feb. 20 Low). Against the euro, the pound was trading 0.1 percent down at 86.07 pence, having hit a high of 85.28 on Wednesday, it’s highest since May 2017

AUD/USD: The Australian dollar slumped to a 3-week low after Caixin/Markit China purchasing managers' index showed the services sector eased to a 4-month low. However, the major found some support after the Reserve Bank of Australia stuck with its upbeat outlook for the economy despite a run of softer data recently. The Aussie trades 0.3 percent down at 0.7073, having hit a low of 0.7066 earlier; it’s lowest since February 12. FxWirePro's Hourly Aussie Strength Index stood at -25.44 (Neutral) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7060 (Feb.8 Low), a break below targets 0.7016 (Dec.26 Low). On the upside, resistance is located at 0.7150 (Feb. 22 High), a break above could take it near 0.7206 (Feb. 21 High).

NZD/USD: The New Zealand dollar tumbled to a 1-1/2 week low, as the market had second thoughts about the extent of progress being made in U.S.-China trade talks. The Kiwi trades 0.3 percent down at 0.6794, having touched a low of 0.6788 earlier, its lowest level Feb. 22. FxWirePro's Hourly Kiwi Strength Index was at -62.21 (Bearish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6853 (Feb. 22 High), a break above could take it near 0.6941 (Feb. 1 High). On the downside, support is seen at 0.6774 (Feb. 6 Low), a break below could drag it below 0.6719 (Feb. 12 Low).



Equities Recap

Asian shares plunged, undermined by downbeat Chinese service PMI and as China cut its economic expansion target amid growing challenges from rising debt and a trade dispute with the United States.

MSCI's broadest of Asia-Pacific shares outside Japan slumped 0.5 percent.

Tokyo's Nikkei fell 0.5 percent to 21,711.89 points, Australia's S&P/ASX 200 index declined 0.3 percent to 6,199.30 points and South Korea's KOSPI eased 0.8 percent to 2,173.47 points.

Shanghai composite index rose 0.2 percent to 3,034.61 points, while CSI300 index traded 0.1 percent up at 3,789.90 points.

Hong Kong’s Hang Seng traded 0.05 percent lower at 28,954.58 points. Taiwan shares shed 0.4 percent to 10,305.26 points.



Commodities Recap

Crude Oil prices declined as China cut its 2019 economic growth target, dimming the outlook for fuel demand, however, OPEC-led efforts to cut output limited downside. International benchmark Brent crude was trading 0.4 percent down at $65.31 per barrel by 0450 GMT, having hit a high of $67.11 on Friday, its highest since February 25. U.S. West Texas Intermediate was trading 0.3 percent lower at $56.25 a barrel, after rising as high as $57.85 on Friday, its highest since the November 16.

Gold prices consolidated near a 5-week low touched in the previous session, as rising U.S. Treasury yields boosted the bid tone around the greenback. Spot gold rose 0.2 percent to $1,288.83 per ounce by 0458 GMT, having touched a low of $1,282.74 in the previous session, its lowest since January 25. U.S. gold futures were also up 0.2 percent at $1,290.20 per ounce.








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