FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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Re: FirewoodFX - Market News

#531

Post by B0N3 » Fri Aug 02, 2019 7:46 pm

Asia Roundup:
Aussie strengthens on robust retail sales data, Asian markets drastically down, gold hovers around $1,430 mark –
Friday, August 02, 2019





Market Roundup

Australia June retail sales m/m at 0.4 pct vs 0.1 pct previous release (expected 0.3 pct).

Australia PPI q/q at 0.4 pct vs 0.4 pct previous release.

Japan y/y monetary base at 3.7 pct vs 4.0 pct previous release.

Japanese yen strengthens against U.S. dollar, hits highest level since June 25.

Yen rises after Trump’s announcement regarding additional 10% tariff on $300B worth of Chinese imports, starting from Sept 01.



Economic Data Ahead

(0300 ET/0700 GMT) Spain unemployment change (previous -63.8K, expected -21.4K).

(0330 ET/0730 GMT) Swiss manufacturing PMI (previous 47.7, expected 47.0).

(0400 ET/0800 GMT) Italy industrial production (previous 0.9 pct, expected -0.3 pct).

(0430 ET/0830 GMT) UK construction PMI (previous 43.1, expeccted 46.0).

(0500 ET/0900 GMT) Italy retail sales (previous -0.7, expected 0.4).

(0500 ET/0900 GMT) Euro PPI (previous -0.1, expected -0.3).

(0500 ET/0900 GMT) Eurozone retail sales (previous 1.3 pct, expected 1.3 pct).

(0730 ET/1130 GMT) India M3 money supply (previous 10.3 pct).



Key Events Ahead

(0830 ET/1230 GMT) US NFP job data (previous 224K, expected 164K).



FX Beat

USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.1% to 98.218.

EUR/USD: The euro was flat at $1.1074, having eased back from a $1.1026 overnight. It made intraday high at $1.1096 and low at $1.1069 mark. A consistent close below $1.1074 will drag the parity down towards key supports around $1.1026 and $1.0852 levels respectively. Alternatively, reversal from key support will drag the parity higher towards key resistances around $1.1220, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively.

USD/JPY: The Japanese yen strengthens against U.S. dollar, hits highest level since June 25. It made intraday high at 107.56 and low at 106.85 levels. A sustained close above 107.33 is required to take the parity higher towards key resistances around 108.52, 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 107.33 will drag the parity down towards key support around 104.20 mark.

GBP/USD: The pound trades almost flat against U.S. dollar and stabilizes above $1.21 mark. Pair made intraday high at $1.2144 and low at $1.2088 mark. A sustained close below $1.2126 requires for dragging the parity down towards key support around $1.2087, $1.1920 and $1.1754 mark respectively. On the other side, key resistances are seen at $1.2383, $1.2576 and $1.2772 levels respectively.

AUD/USD: The Aussie rises against major peers on robust retail sales data.The pair made intraday high at $0.6818 and low at $0.6795 levels. A consistent close below $0.6798 requires for downside rally. On the other side, a sustained close above $0.6852 will take the parity higher towards $0.6977 and $0.7076 levels respectively.

NZD/USD: The New Zealand dollar falls gradually against U.S. dollar and currently trading around $0.6537 mark. A sustained close above $0.6585 requires for the upside rally. Alternatively, key support was seen at $0.6488 mark.



Equities Recap


Tokyo's Nikkei was trading 2.4 pct lower at 21,024.50 points.

Hong Kong’s Hang Seng was trading 2.20 percent lower at 26,959.22 points.



Commodities Recap

Crude Oil prices rebounded on Friday in Asia after plunging more than 7% on Trumps’ overnight tweet for more tariffs on Chinese goods. U.S. WTI crude Futures rose 2% to $55.05 by 12:30 AM ET. International Brent Oil Futures gained 2.5% to $62.02.

Gold falls on Friday and currently hovers around $1,430 mark. It touched $1,449 mark in early Asian hours and made low of $1,430 mark.









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#532

Post by Peppe89 » Sun Aug 04, 2019 5:58 am

Thanks for info and updates



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#533

Post by B0N3 » Mon Aug 05, 2019 2:16 am

Peppe89 wrote:
Sun Aug 04, 2019 5:58 am
Thanks for info and updates
:thumbs: :thumbs:



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#534

Post by B0N3 » Mon Aug 05, 2019 6:01 pm

Asia Roundup:
Antipodeans plunge on U.S.-China trade tensions, greenback eases as downbeat U.S. non-farm payrolls indicate another Fed rate cut, Asian shares at 6-1/2 month trough –
Monday, August 5th, 2019





Market Roundup

Yuan sinks past 7/dollar to over decade low

Oil prices ease as U.S.-China trade war fuels growth concerns

Gold gains on weaker dollar



Economic Data Ahead

(0315 ET/0715 GMT) Spain Markit service PMI July

(0345 ET/0745 GMT) Italy Markit service PMI July

(0350 ET/0750 GMT) France Markit service PMI July

(0350 ET/0750 GMT) France Markit composite PMI July

(0355 ET/0755 GMT) Germany Markit service PMI July

(0350 ET/0755 GMT) Germany Markit composite PMI July

(0400 ET/0800 GMT) EZ Markit service PMI July

(0400 ET/0800 GMT) EZ Markit composite PMI July

(0430 ET/0830 GMT) UK Markit service PMI July

(0430 ET/0830 GMT) UK Markit composite PMI July

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



Key Events Ahead

No significant events scheduled



FX Beat

DXY: The dollar index slumped after data released on Friday showed U.S. non-farm payrolls increased by 164,000 jobs in July, fewer than the prior month, and wages increased modestly, cementing expectations that the Federal Reserve will cut interest rates again in September after it delivered its first rate reduction in more than a decade last month. The greenback against a basket of currencies traded 0.2 percent down at 98.87, having touched a high of 98.93 on Thursday, its highest since May 15, 2017.

EUR/USD: The euro rose, extending gains for the third straight session, as the greenback plunged on expectations that the Federal Reserve will cut interest rates again in September. The European currency traded 0.2 percent up at 1.1125, having touched a low of 1.1026 on Thursday, its lowest since May 2017. Investors’ attention will remain on Markit service PMI's from the Eurozone economies and EZ sentix investor confidence, ahead of the U.S. service PMI from both Markit and ISM. Immediate resistance is located at 1.1162 (31 July High), a break above targets 1.1225 (July 22 High). On the downside, support is seen at 1.1060 (July 31 Low), a break below could drag it below 1.026 (August 1 Low).

USD/JPY: The dollar plunged to a 7-month low against the Japanese yen amid mounting fears over a sharp escalation in the U.S.-China trade war. On Friday, Beijing vowed to retaliate against U.S. President Donald Trump’s abrupt decision to impose 10 percent tariffs on the remaining $300 billion in Chinese imports, a move that ended a month-long trade truce. The major was trading 0.6 percent down at 105.97, having hit a low of 105.78 earlier, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. service PMI from both Markit and ISM. Immediate resistance is located at 107.13 (38.2% retracement of 109.31 and 105.78), a break above targets 107.55 (50% retracement). On the downside, support is seen at 105.45, a break below could take it lower at 104.65.

GBP/USD: Sterling eased after rising to a 5-day peak earlier in the session after Prime Minister Boris Johnson declared that the UK would leave the European Union on October 31, with or without a transitional trade agreement. The major traded 0.2 percent down at 1.2135, having hit a low of 1.2079 on Thursday, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit and BoE policy decision, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2253 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2305 (61.8% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading 0.5 percent down at 91.69 pence, having hit a low of 91.90 on Tuesday, it’s lowest since Sept 2017.

AUD/USD: The Australian dollar tumbled, extending losses for the twelfth straight session, as broadening fallout of the U.S.-China trade dispute saw investors rushing into perceived safe-haven assets. The Aussie trades 0.5 percent down at 0.6767, having hit a low of 0.6748 earlier, it’s lowest since Jan. 3. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6744 (Jan 3 Low), a break below targets 0.6700. On the upside, resistance is located at 0.6827 (23.6% retracement of 0.7082 and 0.6748), a break above could take it near 0.6876 (38.2% retracement).

NZD/USD: The New Zealand dollar slumped to a near 2-month low, after China vowed to fight back against Trump’s decision, a move that ended a month-long trade truce. The Kiwi trades 0.3 percent down at 0.6515, having touched a low of 0.6488 earlier, its lowest level June 14. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6559 (23.6% retracement of 0.6790 and 0.6488), a break above could take it near 0.6603 (38.2% retracement). On the downside, support is seen at 0.6474 (Oct. 4 Low), a break below could drag it below 0.6442 (Oct. 10 Low).



Equities Recap

Asian shares tumbled to 6-1/2-month lows as a rapid escalation in the U.S.-China trade war sent investors stampeding into safe-haven assets

MSCI's broadest of Asia-Pacific shares outside Japan declined 2.1 percent.

Tokyo's Nikkei plunged 1.9 percent to 20,670.07 points, Australia's S&P/ASX 200 index fell 1.9 percent to 6,640.30 points and South Korea's KOSPI slumped 2.5 percent to 1,948.44 points.

Hong Kong’s Hang Seng traded 2.8 percent lower at 26,150.72 points. Taiwan shares shed 1.2 percent to 10,423.41 points.

Shanghai Composite Index eased 1.2 percent to 2,834.07 points, while CSI 300 index traded 1.5 percent down at 3,691.64 points.



Commodities Recap

Crude Oil prices declined amid concerns about weaker crude demand after U.S. President Donald Trump said he would impose tariffs on more Chinese imports, potentially ramping up a trade war between both the economies. International benchmark Brent crude was trading 0.2 percent higher at $61.12 per barrel by 0427 GMT, having hit a low of $60.00 on Thursday, its lowest since June 13. U.S. West Texas Intermediate was trading 0.4 percent down at $54.97 a barrel, after falling as low as $53.58 on Thursday, its lowest since the June 19.

Gold prices surged to an over 6-week peak, boosted by a weaker greenback and escalating trade tension between the United States and China. Spot gold rose 0.9 percent to $1,452.65 per ounce by 0433 GMT, having touched a high of $1,455.98 earlier, its highest since May 2013. U.S. gold futures inched down 0.1 percent to $1,455.40 an ounce.









DAPATKAN INFO TERKINI DAILY MARKET NEWS SETIAP HARI DI FIREWOODFX

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#535

Post by B0N3 » Tue Aug 06, 2019 6:37 pm

Asia Roundup:
Aussie rebounds as RBA leaves interest rates unchanged, greenback rallies on U.S. Treasury Secretary Mnuchin's comments, Asian shares tumble –Tuesday, August 6th, 2019





Market Roundup

Australia's central bank holds rates, sees low for longer

U.S. services sector slows; orders hit three-year low

Oil prices rise amid escalating U.S.-China trade war



Economic Data Ahead

(0200 ET/0600 GMT) Germany Factory Orders s.a. MoM June

(0200 ET/0600 GMT) Germany Factory Orders n,s.a. MoM June



Key Events Ahead

No significant events scheduled



FX Beat

DXY: The dollar index rebounded from a 2-week low hit earlier in the day after U.S. Treasury Secretary Steven Mnuchin stated that the government had determined that China is manipulating its currency and that Washington would engage the International Monetary Fund to eliminate unfair competition from Beijing. The greenback against a basket of currencies traded 0.2 percent up at 97.60, having touched a low of 97.21 earlier, its lowest since July 22.

EUR/USD: The euro declined, retreating from an over 2-week peak as the greenback rebounded from recent lows. The European currency traded 0.05 percent down at 1.1145, having touched a low of 1.1026 on Thursday, its lowest since May 2017. Investors’ attention will remain on German factory orders, ahead of the U.S. JOLTS Job Openings data and Fed Bullard's speech. Immediate resistance is located at 1.1282 (July 19 High), a break above targets 1.1322 (July 2 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1133 (10-DMA).

USD/JPY: The dollar rebounded from a 7-month low on the back of some aggressive short-covering move amid fading safe-haven demand. Investor risk sentiment improved following a modest rebound in the U.S. Treasury bond yields, however, the recovery appears fragile amid renewed U.S.-China trade war fears. The major was trading 0.7 percent up at 106.66, having hit a low of 105.52 earlier, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. JOLTS Job Openings data and Fed Bullard's speech. Immediate resistance is located at 107.41 (50.0% retracement of 109.31 and 105.52), a break above targets 107.86 (61.8% retracement). On the downside, support is seen at 104.65 (Jan. 3 Low), a break below could take it lower at 104.00.

GBP/USD: Sterling consolidated within narrow ranges near 31-month low as investors remained on the sidelines due to the summer recess in the British Parliament. The UK Prime Minister Boris Johnson’s no-deal Brexit preparations have triggered an ire from the opposition as the Labour party leader vows to call a no-confidence motion once the Parliament reconvenes at September-start. The major traded 0.2 percent up at 1.2165, having hit a low of 1.2079 on Thursday, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2253 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2305 (61.8% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading 0.2 percent up at 92.10 pence, having hit a low of 92.49 earlier, it’s lowest since Sept 2017.

AUD/USD: The Australian dollar rose, halting a 12-day losing streak, after the Reserve Bank of Australia’s decision to leave the cash rate unchanged at 1.00 percent at its meeting today. On Monday, the major slumped to a 7-month low after Beijing vowed to retaliate against U.S. President Donald Trump’s decision to impose 10 percent tariffs on $300 billion of Chinese imports. The Aussie trades 0.4 percent up at 0.6779, having hit a low of 0.6748 the day before, it’s lowest since Jan. 3. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6744 (Jan 3 Low), a break below targets 0.6700. On the upside, resistance is located at 0.6827 (23.6% retracement of 0.7082 and 0.6748), a break above could take it near 0.6876 (38.2% retracement).

NZD/USD: The New Zealand dollar trimmed gains after rising to a 6-day peak earlier in the session as the greenback rebounded from recent lows. The Kiwi trades 0.05 percent up at 0.6515, having touched a low of 0.6488 on Monday, its lowest level June 14. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6559 (23.6% retracement of 0.6790 and 0.6488), a break above could take it near 0.6603 (38.2% retracement). On the downside, support is seen at 0.6474 (Oct. 4 Low), a break below could drag it below 0.6442 (Oct. 10 Low).



Equities Recap

Asian shares plunged after Washington designated Beijing a currency manipulator, further escalating the U.S.-China trade war.

MSCI's broadest of Asia-Pacific shares outside Japan declined 0.9 percent.

Tokyo's Nikkei plunged 0.7 percent to 20,579.16 points, Australia's S&P/ASX 200 index fell 2.5 percent to 6,478.90 points and South Korea's KOSPI slumped 0.7 percent to 1,934.07 points.

Hong Kong’s Hang Seng traded 0.9 percent lower at 25,896.24 points. Taiwan shares shed 0.3 percent to 10,394.75 points.

Shanghai Composite Index eased 1.4 percent to 2,781.11 points, while CSI 300 index traded 0.9 percent down at 3,641.94 points.



Commodities Recap

Crude Oil prices rose after falling to its lowest since January earlier in the session, as traders betting on declining prices bought back contracts to lock in profits from recent declines caused by the escalating trade dispute between the U.S. and China. International benchmark Brent crude was trading 0.7 percent higher at $60.44 per barrel by 0428 GMT, having hit a low of $59.08 earlier, its lowest since January. U.S. West Texas Intermediate was trading 0.6 percent up at $55.32 a barrel, after falling as low as $53.58 on Thursday, its lowest since the June 19.

Gold surged to its highest level in more than six 6-years as a worsening U.S.-China trade conflict prompted investors to dump riskier assets for safe havens. Spot gold rose 0.1 percent to $1,468.50 per ounce by 0436 GMT, having touched a high of $1,474.80 earlier, its highest since April 2013.









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#536

Post by B0N3 » Wed Aug 07, 2019 8:07 pm

Asia Roundup:
Kiwi plunges to 3-1/2 year low on RBNZ rate cut surprise, dollar eases against yen amid U.S.-China trade tensions, gold at 6-year peak –
Wednesday, August 7th, 2019





Market Roundup

Dollar falls versus yen, offshore yuan slips

Gold hits fresh multi-year high

Trade war between U.S. and China show no signs of abating



Economic Data Ahead

(0330 ET/0730 GMT) UK Halifax House Prices MoM July

(0330 ET/0730 GMT) UK Halifax House Prices 3M/YoY July



Key Events Ahead

(0330 ET/0730 GMT) ECB Coeure's speech



FX Beat

DXY: The dollar index rose, extending previous session gains, as the trade war between China and the United States showed no signs of abating. The greenback against a basket of currencies traded 0.05 percent up at 97.85, having touched a low of 97.21 the day before, its lowest since July 22.

EUR/USD: The euro gained, hovering towards a 2-1/2 week peak hit in the previous session as risk sentiment improved after the Italian government won a confidence vote in the Senate on Monday, prolonging its tenure. Moreover, the major found support after data released yesterday showed June German industrial orders rebounded, indicating the downward trend for the industry had slowed in the second quarter. The European currency traded 0.1 percent up at 1.1219, having touched a high of 1.1249 earlier, its highest since July 19. Investors’ attention will remain on ECB Coeure's speech, ahead of the U.S. consumer credit speech. Immediate resistance is located at 1.1263 (July 16 High), a break above targets 1.1322 (July 2 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1133 (5-DMA).

USD/JPY: The dollar declined against the Japanese yen as market sentiment deteriorated after Beijing sent strong warnings that labelling it a currency manipulator would have severe consequences for the global financial order. The major was trading 0.2 percent down at 106.25, having hit a low of 105.52 on Tuesday, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer credit speech. Immediate resistance is located at 106.96 (38.2% retracement of 109.31 and 105.52), a break above targets 107.41 (50% retracement). On the downside, support is seen at 105.52 (Aug. 6 Low), a break below could take it lower at 104.65 (Jan. 3 Low

GBP/USD: Sterling held above 31-month lows, as British Prime Minister Boris Johnson is likely to witness no-confidence motion and/or forced to resign. The major traded flat at 1.2151, having hit a low of 1.2079 on Thursday, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2253 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2305 (61.8% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading 0.2 percent down at 92.19 pence, having hit a low of 92.49 on Tuesday, it’s lowest since Sept 2017.

AUD/USD: The Australian dollar declined to the lowest level since March 2009 as the aggressive easing by the RBNZ will likely put pressure on the Reserve Bank of Australia to ease further. The RBA delivered 25 basis point rate cuts in June and July and is expected to cut rates to 0.75 percent before the year-end. The Aussie trades 0.7 percent down at 0.6712, having hit a low of 0.6677 earlier, it’s lowest since March 2009. Immediate support is seen at 0.6650, a break below targets 0.6600. On the upside, resistance is located at 0.6800 (August 6 High), a break above could take it near 0.6831 (23.6% retracement of 0.7082 and 0.6677).

NZD/USD: The New Zealand dollar plunged below the 0.6400 handle to hit a 3-1/2 year low after the Reserve Bank of New Zealand cut interest rates by 50 basis points to a record low of 1.00 percent, confounding expectations for a smaller 25 basis point and kept the doors open for further easing in the near future. The Kiwi trades 2.0 percent down at 0.6397, having touched a low of 0.6376 earlier, its lowest level Jan 2016. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6474 (23.6% retracement of 0.6790 and 0.6376), a break above could take it near 0.6534 (38.2% retracement). On the downside, support is seen at 0.6350, a break below could drag it below 0.6300.



Equities Recap

Asian shares declined as market sentiment remained fragile, with no clear end in the U.S.-China trade standoff insight.

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

Tokyo's Nikkei plunged 0.3 percent to 20,516.56 points, Australia's S&P/ASX 200 index rose 0.6 percent to 6,519.50 points and South Korea's KOSPI slumped 0.3 percent to 1,910.98 points.

Hong Kong’s Hang Seng traded 0.1 percent lower at 25,947.33 points. Taiwan shares shed 0.1 percent to 10,386.18 points.

Shanghai Composite Index eased 0.1 percent to 2,774.58 points, while CSI 300 index traded 0.1 percent down at 3,631.29 points.


Commodities Recap

Crude Oil prices steadied after falling to its lowest level since January, as the intensifying U.S.-China trade dispute continued to cast a shadow over the market. International benchmark Brent crude was trading 0.3 percent higher at $58.83 per barrel by 0457 GMT, having hit a low of $58.55 earlier, its lowest since January. U.S. West Texas Intermediate was trading 0.2 percent up at $53.54 a barrel, after falling as low as $53.14, its lowest since the June 18.

Gold prices rallied to a more than 6-year high as the trade war between China and the United States showed no signs of abating, boosting the appeal of safe-haven assets. Spot gold surged 0.8 percent to $1,484.74 per ounce by 0502 GMT, having touched a high of $1,490.02 earlier, its highest since April 2013. U.S. gold futures were up 0.9 percent at $1,497.90 an ounce.









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#537

Post by B0N3 » Thu Aug 08, 2019 8:03 pm

Asia Roundup:
Antipodeans off lows on China's better-than-expected trade surplus, yen gains on global growth concerns, oil at 7-month lows –
Thursday, August 8th, 2019





Market Roundup

Yen rallies on global growth fears

Oil eases nearly 5% to seven-month low on surprise U.S. stock build

Gold rises on darkening economic outlook

China's exports rose 3.3% in July from a year earlier

China's imports decline by less than expected



Economic Data Ahead

(0300 ET/0700 GMT) Spain industrial output Cal adjusted YoY (June)



Key Events Ahead

(0400 ET/0800 GMT) EZ Economic Bulletin



FX Beat

DXY: The dollar index eased as investors have increasingly come to fear the trade war will prove protracted enough to drag the world into recession. The greenback against a basket of currencies traded 0.1 percent down at 97.52, having touched a low of 97.21 on Tuesday, its lowest since July 22.

EUR/USD: The euro edged up as the greenback eased on rising expectations of aggressive easing by the U.S. Federal Reserve by the year-end. The European currency traded 0.1 percent up at 1.1209, having touched a high of 1.1249 on Tuesday, its highest since July 19. Investors’ attention will remain on EZ Economic Bulletin, ahead of the U.S. unemployment benefit claims and wholesale inventories. Immediate resistance is located at 1.1263 (July 16 High), a break above targets 1.1322 (July 2 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1133 (5-DMA).

USD/JPY: The dollar declined, extending previous session losses, after global central banks slashed rate cuts and indicated more to come as world economic risks grew, boosting the appeal of the safe-haven Japanese yen. The major was trading 0.1 percent down at 106.16, having hit a low of 105.49 on Wednesday, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer credit speech. Immediate resistance is located at 106.95 (38.2% retracement of 109.31 and 105.49), a break above targets 107.40 (50% retracement). On the downside, support is seen at 105.52 (Aug. 6 Low), a break below could take it lower at 104.65 (Jan. 3 Low).

GBP/USD: Sterling consolidated above 31-month lows, as investors further priced in the probability of Britain leaving the European Union without a deal in place. The major traded 0.2 percent up at 1.2160, having hit a low of 1.2079 last week, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2253 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2305 (61.8% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading flat at 92.18 pence, having hit a low of 92.49 on Tuesday, it’s lowest since Sept 2017.

AUD/USD: The Australian dollar rebounded from multi-year lows after China reported a bigger-than-expected increase in the trade surplus for July, as exports jumped unexpectedly while imports fell less-than-expected. Chinese exports rose 3.3 percent in July from a year earlier, while imports declined by less than expected, suggesting some resilience to the drawn-out U.S.-China tariff war. The Aussie trades 0.2 percent up at 0.6773, having hit a low of 0.6677 on Wednesday, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6700, a break below targets 0.6650. On the upside, resistance is located at 0.6800 (August 6 High), a break above could take it near 0.6831 (23.6% retracement of 0.7082 and 0.6677).

NZD/USD: The New Zealand dollar retreated from recent lows as the greenback eased across the board. On Wednesday, the major tumbled to a 3-1/2 year low after the Reserve Bank of New Zealand surprised markets with a bigger than expected interest rate cut and flagged the possibility of negative rates. The Kiwi trades 0.2 percent up at 0.6433, having touched a low of 0.6376 the day before, its lowest level Jan 2016. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6474 (23.6% retracement of 0.6790 and 0.6376), a break above could take it near 0.6534 (38.2% retracement). On the downside, support is seen at 0.6350, a break below could drag it below 0.6300.



Equities Recap

Asian shares surged after China reported better trade numbers, offering temporary relief from worries of a global currency war.

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

Tokyo's Nikkei rallied 0.5 percent to 20,611.88 points, Australia's S&P/ASX 200 index rose 0.6 percent to 6,560.10 points and South Korea's KOSPI surged 1.3 percent to 1,933.99 points.

Hong Kong’s Hang Seng traded 0.6 percent higher at 26,153.03 points. Taiwan shares added 1.05 percent to 10,494.19 points.

Shanghai Composite Index rose 0.9 percent to 2,792.15 points, while CSI 300 index traded 0.1 percent up at 3,664.55 points.



Commodities Recap

Crude Oil prices steadied after falling to multi-month lows in the previous session amid concerns that a global economic slowdown would hurt crude demand. International benchmark Brent crude was trading 0.8 percent higher at $57.78 per barrel by 0427 GMT, having hit a low of $55.86 the day before, its lowest since January. U.S. West Texas Intermediate was trading 0.6 percent up at $52.62 a barrel, after falling as low as $50.51 on Wednesday, its lowest since the January.

Gold prices held firm after surpassing the $1,500 mark in the previous session, as central banks around the world slashed interest rates amidst fears of a global recession. Spot gold was trading flat at $1,500.87 per ounce by 0430 GMT, having touched a high of $1,510.29 on Wednesday, its highest since April 2013. U.S. gold futures were down 0.3 percent at $1,515.30 an ounce.









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#538

Post by B0N3 » Fri Aug 09, 2019 8:18 pm

Asia Roundup:
Aussie gains on RBA Governor Lowe's comments, yen extends rally on U.S.-China trade dispute, investors eye UK GDP report – –
Friday, August 9th, 2019





Market Roundup

U.S.-China trade row supports safe-havens

Gold eyes best week in over three years

Oil dips amid trade worries

RBA: Australia economy seen turning up

RBA: Zero rates, QE unlikely but possible



Economic Data Ahead

(0400 ET/0800 GMT) Italy Global trade balance June

(0400 ET/0800 GMT) Italy trade balance EU June

(0430 ET/0830 GMT) UK prelim gross domestic product YoY Q2

(0430 ET/0830 GMT) UK prelim gross domestic product MoM Q2

(0430 ET/0830 GMT) UK manufacturing production MM June

(0430 ET/0830 GMT) UK manufacturing production YY June

(0430 ET/0830 GMT) UK industrial production MM June

(0430 ET/0830 GMT) UK industrial production YY June

(0430 ET/0830 GMT) UK Trade Balance June

(0430 ET/0830 GMT) UK Trade Balance non-EU June

(0430 ET/0830 GMT) UK Goods Trade Balance June

(0430 ET/0830 GMT) UK gross domestic product MoM June

(0500 ET/0900 GMT) Italy Consumer price index EU MoM June

(0500 ET/0900 GMT) Italy Consumer price index MoM June

(0500 ET/0900 GMT) Italy Consumer price index EU YoY June

(0500 ET/0900 GMT) Italy Consumer price index YoY June



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index steadied as the benchmark 10-year Treasury yield closed 2.4 basis points higher at 1.715 percent after hitting 1.595 percent on Wednesday, its lowest level since October 2016. The greenback against a basket of currencies traded flat at 97.59, having touched a low of 97.21 on Tuesday, its lowest since July 22.

EUR/USD: The euro rose, reversing previous session losses after Reuters reported that Germany is considering ending its long-cherished balanced budget goal by issuing new debt to finance a costly climate protection package. The European currency traded 0.2 percent up at 1.1197, having touched a high of 1.1249 on Tuesday, its highest since July 19. Investors’ attention will remain on a series of data from the Eurozone economies, ahead of the U.S. producer price index data. Immediate resistance is located at 1.1233 (July 17 High), a break above targets 1.1282 (July 19 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1138 (50% retracement).

USD/JPY: The dollar declined, extending losses for the third straight session, as U.S. President Donald Trump again expressed dissatisfaction with the strength of the greenback, saying the Federal Reserve’s interest rates were harming American manufacturers. The major was trading 0.2 percent down at 105.91, having hit a low of 105.49 on Wednesday, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index data. Immediate resistance is located at 106.39 (23.6% retracement of 109.31 and 105.49), a break above targets 106.95 (38.2% retracement). On the downside, support is seen at 105.52 (Aug. 6 Low), a break below could take it lower at 104.65 (Jan. 3 Low).

GBP/USD: Sterling continued to trade within narrow ranges above the 1.2100 handle, as investors remained on the sidelines amid prospect of a no-deal Brexit and news that Prime Minister Boris Johnson would hold an election in the days following Brexit if lawmakers sunk his government with a vote of no-confidence. The major traded 0.1 percent up at 1.2147, having hit a low of 1.2079 last week, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2188 (23.6% retracement of 1.2522 and 1.2079), a break above could take it near 1.2253 (38.2% retracement). On the downside, support is seen at 1.2079 (Aug. 1 Low), a break below targets 1.2017 (Jan 17, 2017, Low). Against the euro, the pound was trading flat at 92.16 pence, having hit a low of 92.65 on Thursday, it’s lowest since August 2017.

AUD/USD: The Australian dollar rose, extending previous session gains after the Reserve Bank of Australia stated that zero interest rates and quantitative easing are unlikely to be needed. RBA Governor Philip Lowe emphasized the central bank’s base case was for the economy to improve and that it may now be at a turning point with growth expected to pick up next year. The Aussie trades 0.2 percent up at 0.6812, having hit a low of 0.6677 on Wednesday, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6774 (5-DMA), a break below targets 0.6700. On the upside, resistance is located at 6831 (38.2% retracement of 0.7082 and 0.6677), a break above could take it near 0.6879 (50% retracement).

NZD/USD: The New Zealand dollar gained but on course for its third weekly decline. The major slumped to its lowest in more than three years earlier in the week after the Reserve Bank of New Zealand stunned markets by cutting interest rates more than expected and hinting at taking rates into negative territory. The Kiwi trades 0.2 percent up at 0.6493, having touched a low of 0.6376 on Wednesday, its lowest level Jan 2016. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6534 (38.2% retracement of 0.6790 and 0.6376), a break above could take it near 0.6583 (50% retracement). On the downside, support is seen at 0.6400, a break below could drag it below 0.6365.



Equities Recap

Asian shares steadied as China’s solid export figures and a stabilization in the yuan boosted investor risk appetite, although concerns about U.S.-China trade ties limited gains.

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

Tokyo's Nikkei rallied 0.5 percent to 20,684.82 points, Australia's S&P/ASX 200 index rose 0.3 percent to 6,584.40 points and South Korea's KOSPI surged 1.1 percent to 1,942.02 points.

Hong Kong’s Hang Seng traded 0.3 percent lower at 26,039.66 points.

Shanghai Composite Index Shanghai composite index eased 0.8 percent to 2,771.94 points, while CSI 300 index traded 1.1 percent down at 3,630.25 points.



Commodities Recap

Crude Oil prices declined amid fears over demand as the U.S-China trade dispute casts its shadow over markets, although expectations of more OPEC production cuts limited downside. International benchmark Brent crude was trading 0.8 percent lower at $57.78 per barrel by 0531 GMT, having hit a low of $55.86 on Wednesday, its lowest since January. U.S. West Texas Intermediate was trading 0.7 percent down at $52.53 a barrel, after falling as low as $50.51 on Wednesday, its lowest since the January.

Gold prices steadied above the $1,500 mark as an escalation in the U.S.-China trade dispute and fears of a global economic slowdown triggered fresh interest for safe-haven assets. Spot gold was trading 0.3 percent up at $1,505.04 per ounce by 0535 GMT, having touched a high of $1,510.29 on Wednesday, its highest since April 2013. U.S. gold futures settled down 0.7 percent at $1,509.50 per ounce.









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#539

Post by B0N3 » Mon Aug 12, 2019 7:33 pm

Asia Roundup:
Yen near 7-month peak against dollar, gold lingers near $1,500/oz on U.S.-China trade dispute, recession concerns; Asian shares ease amid holiday-thinned trading – Monday, August 12th, 2019





Market Roundup

Yen rallies as U.S.-China trade war, recession worries weigh

Gold lingers near $1,500/oz on trade concerns

Oil gains despite weak demand outlook



Economic Data Ahead

No major economic data releases



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index rebounded after White House trade adviser Peter Navarro said that the United States was still planning to hold another round of trade talks with Chinese negotiators. However, the recovery appears fragile as Goldman Sachs stated that recession risks were increasing due to the U.S.-China trade war, and cut its forecast for fourth-quarter U.S. growth. The greenback against a basket of currencies traded 0.5 percent up at 97.50, having touched a low of 97.03 on Friday, its lowest since July 19.

EUR/USD: The euro rose, extending gains above the 1.1200 handle, despite the prospect of snap elections in Italy. The political uncertainty in Italy had a limited effect on the euro after the leader of Italy’s League Matteo Salvini, who pulled the plug on his own governing coalition and called for a snap election, stated that leaving the eurozone was not an option on the table. The European currency traded 0.1 percent up at 1.1209, having touched a high of 1.1249 last week, its highest since July 19. Investors’ attention will remain on the U.S. monthly budget statement, amid a lack of data from the Eurozone economies. Immediate resistance is located at 1.1241 (August 7 High), a break above targets 1.1282 (July 19 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1138 (50% retracement).

USD/JPY: The dollar plunged, hovering towards a 7-month low hit in the previous session as the U.S.-China trade dispute continued to weigh on investor sentiment. Fears still lingered after U.S. President Donald Trump said that Washington was continuing trade talks with Beijing, but that the U.S. was not going to make a deal for now. The major was trading 0.3 percent down at 105.40, having hit a low of 105.26 earlier, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. monthly budget statement. Immediate resistance is located at 106.22 (23.6% retracement of 109.31 and 105.26), a break above targets 106.81 (38.2% retracement). On the downside, support is seen at 105.22, a break below could take it lower at 104.65 (Jan. 3 Low).

GBP/USD: Sterling slumped to a fresh 2-1/2 year low on news that Labour MPs had been told to cancel all travel in early September in anticipation of Jeremy Corbyn tabling a motion of no confidence in the government. Moreover, Friday's data showing the UK economy unexpectedly contracted in the second quarter further added to the bearishness over Brexit and the chance of a no-deal exit. The major traded 0.1 percent up at 1.2035, having hit a low of 1.2014 earlier, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2135 (23.6% retracement of 1.2522 and 1.2079), a break above could take it near 1.2210 (38.2% retracement). On the downside, support is seen at 1.1986 (Jan 16, 2017, Low, a break below targets 1.1904 (Oct 7, 2016, Low). Against the euro, the pound was trading flat at 93.12 pence, having hit a low of 93.24 earlier, it’s lowest since October 2009.

AUD/USD: The Australian dollar consolidated within narrow ranges as investors await the Chinese figures on retail sales and industrial output due Wednesday to gauge the impact of the trade war on domestic activity. The Aussie trades flat at 0.6812, having hit a low of 0.6677 last week, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6746 (August 8 Low), a break below targets 0.6700. On the upside, resistance is located at 6831 (38.2% retracement of 0.7082 and 0.6677), a break above could take it near 0.6879 (50% retracement).

NZD/USD:
The New Zealand dollar treads water as the uncertainty and lack of progress around the talks have kept financial markets on the edge. The Kiwi trades flat at 0.6468, having touched a low of 0.6376 on Wednesday, its lowest level Jan 2016. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6534 (38.2% retracement of 0.6790 and 0.6376), a break above could take it near 0.6583 (50% retracement). On the downside, support is seen at 0.6400, a break below could drag it below 0.6365.



Equities Recap

Asian shares tumbled as investors worried a prolonged U.S.-China trade war could tip the U.S. and world economies into recession.

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

Tokyo's Nikkei rallied 0.5 percent to 20,611.88 points, Australia's S&P/ASX 200 index rose 0.6 percent to 6,560.10 points and South Korea's KOSPI surged 1.3 percent to 1,933.99 points.

Hong Kong’s Hang Seng traded 0.1 percent lower at 25,916.64 points. Taiwan shares shed 0.05 percent to 10,488.66 points.

Shanghai Composite Index rose 0.6 percent to 2,791.08 points, while CSI 300 index traded 0.8 percent up at 3,662.68 points.



Commodities Recap

Crude Oil prices surged, extending gains for the third straight session, despite worries about an economic slowdown and the U.S.-China trade war, which have led to a cut in the growth outlook for oil demand. International benchmark Brent crude was trading 0.3 percent higher at $58.42 per barrel by 0434 GMT, having hit a low of $55.86 on Wednesday, its lowest since January. U.S. West Texas Intermediate was trading 0.3 percent up at $54.37 a barrel, after falling as low as $50.51 on Wednesday, its lowest since the January.

Gold prices steadied below the $1,500 per ounce level amid the U.S.-China trade conflict and growing fears of a global economic slowdown. Spot gold was trading flat at $1,496.68 per ounce by 0441 GMT, having touched a high of $1,510.29 on Wednesday, its highest since April 2013. U.S. gold futures were flat at $1,508.50 an ounce.









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#540

Post by B0N3 » Tue Aug 13, 2019 7:57 pm

Asia Roundup:
Aussie halts 2-day losing streak as business confidence improves, gold hits over 6-year peak amid ongoing geopolitical tensions, investors eye UK employment data – Tuesday, August 13th, 2019





Market Roundup

Australia business conditions subdued in July

Gold hits over 6-year peak on risk-off sentiment

Oil prices slip on demand concerns

Euro eases amid Italy's political woes



Economic Data Ahead

(0430 ET/0830 GMT) UK ILO unemployment rate 3M June

(0430 ET/0830 GMT) UK Claimant count change June

(0430 ET/0830 GMT) UK Claimant count rate June

(0430 ET/0830 GMT) UK Claimant average earnings including bonus 3Mo/Yr June

(0430 ET/0830 GMT) UK Claimant average earnings excluding bonus 3Mo/Yr June

(0500 ET/0900 GMT) German Zew Survey – Current Situation August

(0500 ET/0900 GMT) German Zew Survey – Economic Sentiment August

(0500 ET/0900 GMT) EZ Zew Survey – Economic Situation August



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index rose, extending previous session gains as investors await the U.S. Federal Reserve’s annual symposium at Jackson Hole, Wyoming, later this month, seeking clarity on the future path of interest rates. The greenback against a basket of currencies traded 0.2 percent up at 97.55, having touched a low of 97.03 on Friday, its lowest since July 19.

EUR/USD: The euro declined, reversing most of its previous session gains, weighed down by political ructions in Italy. The European currency traded 0.2 percent down at 1.1192, having touched a high of 1.1249 last week, its highest since July 19. Investors’ attention will remain German ZEW Survey, ahead of the on the U.S. consumer price index. Immediate resistance is located at 1.1241 (August 7 High), a break above targets 1.1282 (July 19 High). On the downside, support is seen at 1.1164 (38.2% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1138 (50% retracement).

USD/JPY: The dollar held near 7-month lows as concerns around protests in Hong Kong and an Argentine currency crash amid fears of global economic slowdown boosted the demand for the safe-haven Japanese yen. The major was trading 0.1 percent up at 105.36, having hit a low of 105.05 earlier, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer price index. Immediate resistance is located at 106.05 (23.6% retracement of 109.31 and 105.05), a break above targets 106.67 (38.2% retracement). On the downside, support is seen at 105.00, a break below could take it lower at 104.65 (Jan. 3 Low).

GBP/USD: Sterling eased, giving up some of its previous session gains, amid fears Britain would leave the European Union with no transition deal in place in October. On Monday, the British pound rebounded from multi-year lows amid expectations that the UK lawmakers may either postpone the Brexit or pave the way for a soft departure. The major traded 0.1 percent down at 1.2059, having hit a low of 1.2014 the day before, it’s lowest since Jan. 2017. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2135 (23.6% retracement of 1.2522 and 1.2079), a break above could take it near 1.2210 (38.2% retracement). On the downside, support is seen at 1.1986 (Jan 16, 2017, Low, a break below targets 1.1904 (Oct 7, 2016, Low). Against the euro, the pound was trading flat at 93.12 pence, having hit a low of 93.24 earlier, it’s lowest since October 2009.

AUD/USD: The Australian dollar edged up, halting a 2-day losing streak after domestic data showed business confidence improved in July but conditions remained subdued and employment waned in a worrying sign for the economy. National Australia Bank’s index of business conditions declined 2 points to +2 in July, reversing a rise in June, while business confidence edged up to +4, but below the long-run average. The Aussie trades 0.1 percent up at 0.6759, having hit a low of 0.6677 last week, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6725 , a break below targets 0.6700. On the upside, resistance is located at 6831 (38.2% retracement of 0.7082 and 0.6677), a break above could take it near 0.6879 (50% retracement).

NZD/USD: The New Zealand dollar consolidated near multi-year lows as investors wagered the Reserve Bank of New Zealand will have to cut rates further, even though it surprised everyone last week. The Kiwi trades flat at 0.6437, having touched a low of 0.6376 on Wednesday, its lowest level Jan 2016. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6534 (38.2% retracement of 0.6790 and 0.6376), a break above could take it near 0.6583 (50% retracement). On the downside, support is seen at 0.6400, a break below could drag it below 0.6365.



Equities Recap

Asian shares slumped as fears about a drawn-out U.S.-China trade war, protests in Hong Kong and a crash in Argentina’s peso currency drove investors to safe assets.

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

Tokyo's Nikkei eased 1.1 percent to 20,455.44 points, Australia's S&P/ASX 200 index declined 0.3 percent to 6,568.50 points and South Korea's KOSPI dropped 0.9 percent to 1,925.83 points.

Hong Kong’s Hang Seng traded 1.9 percent lower at 25,331.59 points. Taiwan shares shed 1.05 percent to 10,362.66 points.

Shanghai Composite Index fell 0.7 percent to 2,794.56 points, while CSI 300 index traded 0.9 percent down at 3,662.86 points.



Commodities Recap

Crude Oil prices declined, offsetting previous session gains, as sluggish demand forecasts countered expectations that major producers would prop up oil prices by limiting crude oil output. International benchmark Brent crude was trading 0.05 percent lower at $58.39 per barrel by 0547 GMT, having hit a low of $55.86 on Wednesday, its lowest since January. U.S. West Texas Intermediate was trading 0.1 percent up at $54.79 a barrel, after falling as low as $50.51 on Wednesday, its lowest since the January.

Gold prices rallied to their highest in more than six years, as concerns around protests in Hong Kong and an Argentine currency crash amid fears of global economic slowdown, prompted investors to take safety in safe -haven assets. Spot gold rose 0.5 percent to $1,519.33 per ounce by 0549 GMT, having touched a high of $1,519.75 earlier, its highest since April 2013. U.S. gold futures rose 0.6 percent to $1,526.90 an ounce.









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