FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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#541

Post by B0N3 » Thu Aug 15, 2019 12:33 am

Asia Roundup:
Aussie eases on weaker-than-expected Chinese economic data, greenback gains as Trump delays China tariffs, investors eye EZ Q2 prelim GDP – Wednesday, August 14th, 2019





Market Roundup

Australia wage growth stays tepid

Gold holds steady as political, trade woes persist

Oil prices declines as data shows surprise climb in U.S. inventories



Economic Data Ahead

(0245 ET/0645 GMT) France consumer price index EU norm YoY July

(0245 ET/0645 GMT) France consumer price index EU norm MoM July

(0430 ET/0830 GMT) UK retail sales MoM July

(0430 ET/0830 GMT) UK retail sales YoY July

(0430 ET/0830 GMT) UK producer price index – Output YoY n.s.a July

(0430 ET/0830 GMT) UK producer price index – Output MoM n.s.a July

(0430 ET/0830 GMT) UK consumer price index – YoY July

(0430 ET/0830 GMT) UK consumer price index – YoY July

(0500 ET/0900 GMT) EZ preliminary gross domestic product s.a. Q2 YoY

(0500 ET/0900 GMT) EZ preliminary gross domestic product s.a. Q2 QoQ

(0500 ET/0900 GMT) EZ industrial production s.a. MoM June

(0500 ET/0900 GMT) EZ industrial production w.s.a. YoY June



Key Events Ahead

(0330 ET/0730 GMT) Reserve Bank of Australia Assistant Governor Guy Debelle's speech



FX Beat

DXY: The dollar index surged to an over 1-week peak as U.S. President Donald Trump backed off his September 1 deadline for 10 percent tariffs on the remaining Chinese imports, delaying duties on cellphones, laptops and other consumer products. The greenback against a basket of currencies traded flat at 97.83, having touched a low of 97.03 on Friday, its lowest since July 19.

EUR/USD: The euro steadied after plunging in the previous session on data showing the sentiment among German investors eased far more than expected in August. Investors now focus on Eurozone's Q2 prelim Gross Domestic Product that could shape the near-term direction of the major. The European currency traded 0.05 percent up at 1.1173, having touched a high of 1.1249 last week, its highest since July 19. Investors’ attention will remain on EZ industrial production and flash Q2 GDP figures, ahead of the U.S. import and export 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 1.1138 (50% retracement of 1.1026 and 1.1249), a break below could drag it below 1.1111 (61.8% retracement).

USD/JPY: The dollar slightly eased after rising to a 1-week peak in the previous session on news that U.S. President Donald Trump would delay some additional tariffs on Chinese products. However, the weakness comes in as weaker-than-expected Chinese economic data reinforced the view that resolving the trade war was a long way off. The major was trading 0.2 percent down at 106.55, having hit a low of 105.05 on Monday, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. import and export index. Immediate resistance is located at 107.18 (50.0% retracement of 109.31 and 105.05), a break above targets 107.68 (61.8% retracement). On the downside, support is seen at 106.00 (5-DMA), a break below could take it lower at 105.49 (Aug. 7 Low).

GBP/USD: Sterling eased, extending previous session losses, as uncertainty about how Britain will exit the European Union clouded the outlook for the Bank of England’s monetary policy. The major traded 0.05 percent down at 1.2052, having hit a low of 1.2014 on Monday, 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 92.64 pence, having hit a low of 93.24 on Monday, it’s lowest since October 2009.

AUD/USD: The Australian dollar edged lower after data showed growth of China’s industrial output slowed much more than expected to 4.8 percent in July from a year earlier, its slowest pace since February 2002, while retail sales and fixed-asset investment in July also grew less than forecast, highlighting concerns the trade war is damaging the health of the Chinese economy. The Aussie trades 0.1 percent down at 0.6787, 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 within narrow ranges as Reserve Bank of New Zealand is expected to cut the interest rate by the end of the year which would take the OCR below 1 percent. The Kiwi trades flat at 0.6453, having touched a low of 0.6376 last week, 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 jumped after Washington delayed tariffs on some Chinese imports and provided the much-needed relief for markets gripped by political and economic turmoil.

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

Tokyo's Nikkei surged 0.9 percent to 20,642.15 points, Australia's S&P/ASX 200 index rallied 0.1 percent to 6,577.10 points and South Korea's KOSPI gained 0.7 percent to 1,938.56 points.

Hong Kong’s Hang Seng traded 0.6 percent higher at 25,427.29 points. Taiwan shares added 0.6 percent to 10,427.73 points.

Shanghai Composite Index rose 0.7 percent to 2,816.12 points, while CSI 300 index traded 0.7 percent up at 3,693.69 points.



Commodities Recap

Crude Oil prices declined after industry data showed U.S. crude inventories unexpectedly rose last week, erasing some gains from the previous session that were stoked after Washington said it would delay tariffs on some Chinese goods. International benchmark Brent crude was trading 0.5 percent lower at $60.62 per barrel by 0426 GMT, having hit a high of $61.48 on Tuesday, its highest since August 5. U.S. West Texas Intermediate was trading 0.6 percent down at $56.32 a barrel, after rising as high as $57.43 on Tuesday, its highest since August 1.

Gold prices consolidated around the key $1,500 level, supported by the uncertainty around political risks such as the unrest in Hong Kong amid global growth concerns. Spot gold was trading 0.1 percent down at $1,499.79 per ounce at 0432 GMT, having touched a high of $1,519.75 earlier, its highest since April 2013. U.S. gold futures were down 0.1 percent at $1,512.10 an ounce.








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#542

Post by B0N3 » Thu Aug 15, 2019 8:58 pm

Asia Roundup:
Aussie strengthens on robust employment data, Asian markets noticeably down, gold slips below $1,510 mark –
Thursday, August 15, 2019





Market Roundup

Australia employment change July at 41.1K vs 0.5K previous release (expected 14.2K).

Australia unemployment rate stood flat at 5.2 pct.

Japan revised industrial production m/m at -3.3 pct vs -3.6 pct previous release.

South Korea, India, Italy and France markets will remain close for the day.



Economic Data Ahead

(0430 ET/0830 GMT) UK core retail sales m/m, previous 0.9 pct, expected -0.2 pct.

(0430 ET/0830 GMT) UK retail sales m/m, previous 1.0 pct, expected -0.2 pct.

(0600 ET/1000 GMT) Euro reserve assets total, previous 770.65B.

(0830 ET/1230 GMT) U.S. retail sales m/m, previous 0.4, expected 0.3 pct.

(0830 ET/1230 GMT) U.S. Philly Fed manufacturing index, previous 21.8, expected 10.0.



Key Events Ahead

(0330 ET/0730 GMT) Reserve Bank of Australia Assistant Governor Guy Debelle's speech



FX Beat

USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched slightly down 0.08% to 97.91.

EUR/USD: The euro trades marginally higher and currently trading around $1.1150 mark. It made intraday high at $1.1153 and low at $1.1132 mark. A consistent close below $1.1138 will drag the parity down towards key supports around $1.1075, $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 trades flat against U.S. dollar, and consolidates around 105.95 mark. It made intraday high at 106.03 and low at 105.70 levels. A sustained close above 106.70 is required to take the parity higher towards key resistances around 107.56, 108.52, 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 105.29 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 $1.20 mark. A sustained close below $1.2022 requires for dragging the parity down towards key support around $1.1920 and $1.1754 mark respectively. On the other side, key resistances are seen at $1.2226, $1.2383, $1.2576 and $1.2772 levels respectively.

AUD/USD: The Aussie rises against major peers on robust employment data. The pair made intraday high at $0.6783 and low at $0.6745 levels. A consistent close below $0.6747 requires for downside rally. On the other side, a sustained close above $0.6802 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 stabilizes below $0.6480 mark. A sustained close above $0.6480 requires for the upside rally. Alternatively, key support was seen at $0.6434 mark.



Equities Recap


Tokyo's Nikkei was trading 1.68 pct lower at 20,320 mark.

Hong Kong’s Hang Seng was trading 0.37 percent lower at 25,209.48 points.



Commodities Recap

Crude Oil prices were trading marginally lower on Thursday after the U.S. Energy Information Administration (EIA) reported a crude inventory build for a second week in a row. U.S. Crude Oil WTI Futures dropped 0.4% to $54.99. International Brent Oil Futures lost 0.6% to $59.12.

Gold reverses previous gain against U.S. dollar and currently touched $1,510 mark. Pair made intraday high at $1,524 and low at $1,510 mark. Sustained close above $1,515 requires for the upside rally. Alternatively, reversal from key resistance will drag the parity down towards $1,497 and $1,445 marks respectively.








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#543

Post by B0N3 » Fri Aug 16, 2019 10:10 pm

Asia Roundup:
Aussie rises gradually against U.S. dollar; Asian markets mixed, gold touches $1,527 mark in early Asia –
Friday, August 16, 2019





Market Roundup

Singapore July non – oil exports m/m at 3.7 pct vs -7.8 pct previous release.

Singapore July non – oil exports y/y at -11.20 pct vs -17.40 pct previous release.

Singapore trade balance at 2.830B vs 2.450B previous release.



Economic Data Ahead

(0330 ET/0730 GMT) Thailand forex reserves, currency swap.

(0400 ET/0800 GMT) Taiwan GDP.

(0430 ET/0830 GMT) Hong kong GDP.

(0500 ET/0900 GMT) Euro trade balance.

(0730 ET/1130 GMT) India forex reserve, bank loan growth, deposit growth.



Key Events Ahead

No major key events scheduled for the day.



FX Beat

USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.04% to 98.18.

EUR/USD: The euro trades marginally lower and currently trading around $1.1100 mark. It made intraday high at $1.1112 and low at $1.1095 mark. A consistent close below $1.1106 will drag the parity down towards key supports around $1.1075, $1.1026 and $1.0852 levels respectively. Alternatively, reversal from key support will drag the parity higher towards key resistances around $1.1158, $1.1220, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively.

USD/JPY: The Japanese yen trades flat against U.S. dollar and trading around 106.14 mark. It made intraday high at 106.27 and low at 106.02 levels. A sustained close above 106.12 is required to take the parity higher towards key resistances around 106.78, 107.56, 108.52, 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 105.90 will drag the parity down towards key support around 104.20 mark.

GBP/USD: The pound trades marginally higher against U.S. dollar and stabilizes around $1.21 mark. A sustained close below $1.2022 requires for dragging the parity down towards key support around $1.1920 and $1.1754 mark respectively. On the other side, key resistances are seen at $1.2147, $1.2226, $1.2383, $1.2576 and $1.2772 levels respectively.

AUD/USD: The Aussie strengthens in early Asia and remains well supported above 0.6750 mark. The pair made intraday high at $0.6795 and low at $0.6770 levels. A consistent close below $0.6747 requires for downside rally. On the other side, a sustained close above $0.6802 will take the parity higher towards $0.6977 and $0.7076 levels respectively.

NZD/USD: The New Zealand dollar remains almost unchanged against U.S. dollar and currently stabilizes below $0.6450 mark. A sustained close above $0.6480 requires for the upside rally. Alternatively, key support was seen at $0.6420 mark.



Equities Recap

Tokyo's Nikkei was trading 0.10 pct higher at 20,426.00 points.

Hong Kong’s Hang Seng index was trading 0.66 percent higher at 25,665.48 points.



Commodities Recap

Crude Oil prices were trading marginally higher on Friday. U.S. Crude Oil WTI Futures were trading 0.76% higher to $55.23. International Brent Oil Futures rose 0.7% to $58.92.

Gold trades higher on Friday and currently trading around $1,520 mark. Pair made intraday high at $1,527 and low at $1,516 mark. Sustained close above $1,522 requires for the upside rally. Alternatively, reversal from key resistance will drag the parity down towards $1,497 and $1,445 marks respectively.









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#544

Post by B0N3 » Mon Aug 19, 2019 6:50 pm

Asia Roundup:
Yen tumbles amid growing stimulus hopes, investors eye developments surrounding U.S.-China trade deal, oil rallies after Saudi oilfield attack – Monday, August 19th, 2019





Market Roundup

Yen falls as stimulus hopes grow

Oil prices rise after Saudi oilfield attack

Gold prices ease on firmer dollar, equities



Economic Data Ahead

(0400 ET/0800 GMT) EZ Current Account n.s.a (June)

(0400 ET/0800 GMT) EZ Current Account s.a (June)

(0400 ET/0800 GMT) EZ consumer price index- core YoY July

(0400 ET/0800 GMT) EZ consumer price index- core MoM July

(0400 ET/0800 GMT) EZ consumer price index YoY July

(0400 ET/0800 GMT) EZ consumer price index MoM July



Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index held firm near a 2-week peak as U.S. Treasury yields bounced back from recent lows in the wake of German stimulus hopes. The 10-year U.S. Treasury yield stood at 1.575 percent, having pulled away from a three-year trough of 1.475 percent recorded last week. The greenback against a basket of currencies traded flat at 98.20, having touched a high of 98.34 on Friday, its highest since August 2.

EUR/USD: The euro steadied after falling to a 2-week low in the previous session following a report that Germany’s coalition government was prepared to set aside its balanced budget rule in order to take on new debt and launch stimulus steps to counter a possible recession. The European currency traded flat at 1.1090, having touched a low of 1.1066 on Friday, its lowest since August 1. Investors’ attention will remain on Eurozone current account and consumer price index, amid a lack of economic data from the U.S. docket. Immediate resistance is located at 1.1129 (38.2% retracement of 1.1230 and 1.1066), a break above targets 1.1168 (61.8% retracement). On the downside, support is seen at 1.1060 (July 31 Low), a break below could drag it below 1.1026 (August 1 Low).

USD/JPY: The dollar rose, extending gains for the third straight session, as expectations policymakers would unleash new stimulus eased immediate concerns about a slowing global economy. Investors await to see if the U.S. government offers some concessions to Huawei, which could make a resolution to the trade war more likely. The major was trading 0.05 percent up at 106.38, having hit a low of 105.05 last week, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, as U.S. economic data calendar remains absolutely empty. Immediate resistance is located at 107.14 (21-DMA), a break above targets 107.73 (June 21 High). On the downside, support is seen at 105.89 (August 8 Low), a break below could take it lower at 105.29 (Aug. 9 Low).

GBP/USD: Sterling surged, hovering towards a 1-week peak hit in the previous session, boosted by last week's better-than-expected retail sales and news that Britain’s opposition Labour Party had begun its bid to bring down Prime Minister Boris Johnson with a vote of no confidence. The major traded 0.2 percent up at 1.2172, having hit a low of 1.2014 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 1.2210 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2331 (61.8% retracement). On the downside, support is seen at 1.2100 (10-DMA), a break below targets 1.2041 (August 13, Low). Against the euro, the pound was trading 0.1 percent up at 91.17 pence, having hit a high of 90.90 on Friday, it’s lowest since July 31.

AUDUSD: The Australian dollar consolidated within the narrow ranges despite the recovery in the Australian government benchmark bond yield. The upside is likely being capped by the U.S.-China trade tensions. The Aussie trades 0.1 percent up at 0.6783, having hit a low of 0.6677 earlier in the month, 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 0.6735 August 13 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 plunged to a near 2-week low, amid immense uncertainty surrounding the U.S.-China trade deal. The Kiwi trades flat at 0.6423, having touched a low of 0.6410 earlier, its lowest level August 7. 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 surged as hopes of more stimulus from global central banks and steps being taken by major economies eased investors’ fears of a sharp economic downturn.

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

Tokyo's Nikkei surged 0.7 percent to 20,563.16 points, Australia's S&P/ASX 200 index rallied 0.9 percent to 6,467.40 points and South Korea's KOSPI gained 0.7 percent to 1,939.90 points.

Hong Kong’s Hang Seng traded 2.3 percent higher at 26,318.80 points. Taiwan shares added 0.7 percent to 10,488.75 points.

Shanghai Composite Index rose 2.1 percent to 2,883.10 points, while CSI 300 index traded 2.2 percent up at 3,791.09 points.



Commodities Recap

Crude Oil prices surged following a weekend attack on a Saudi oil facility by Yemeni separatists and as markets looked for signs that could ease U.S.-China trade tensions. International benchmark Brent crude was trading 1.3 percent higher at $59.83 per barrel by 0546 GMT, having hit a high of $61.48 on Tuesday, its highest since August 5. U.S. West Texas Intermediate was trading 1.2 percent up at $55.42 a barrel, after rising as high as $57.43 on Tuesday, its highest since August 1.

Gold prices declined, extending previous session losses, due to a stronger greenback and a recovery in equities, as major central banks around the world hinted at more stimulus, easing fears about a sharp economic downturn. Spot gold was trading 0.3 percent down at $1,507.03 per ounce at 0549 GMT, having touched a high of $1,527.90 on Friday, its highest since August 13. U.S. gold futures also fell 0.3 percent to $1,518.70 an ounce.








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#545

Post by B0N3 » Tue Aug 20, 2019 9:07 pm

Asia Roundup:
Aussie gains on RBA meeting minutes, greenback rallies as U.S. Treasury yields rise, Asian shares surge –
Tuesday, August 20th, 2019





Market Roundup

Dollar near three-week peak as Treasury yields rise

Oil rises 2% after an attack on Saudi field

Gold sheds 1% as risk appetite recovers



Economic Data Ahead

(0500 ET/0900 GMT) EZ construction output s.a MoM June

(0500 ET/0900 GMT) EZ construction output w.d.a YoY June

(0600 ET/1000 GMT) UK CBI industrial trends survey-orders MoM August



Key Events Ahead

No significant events scheduled



FX Beat

DXY:
The dollar index surged to a 2-1/2 week peak as yields on benchmark U.S. Treasuries pulled away from 3-year lows, boosted by prospect of Germany embarking on stimulus and on more economic support measures by China. The greenback against a basket of currencies traded flat at 98.38, having touched a high of 98.39 on Monday, its highest since August 2.

EUR/USD: The euro edged higher, halting a 5-day losing streak, but still held close to a 2-week trough set last week on lingering concerns over political developments in Italy. The European currency traded flat at 1.1082, having touched a low of 1.1066 on Friday, its lowest since August 1. Investors’ attention will remain on Eurozone construction output, ahead of Fed's Quarles' speech. Immediate resistance is located at 1.1105 (23.6% retracement of 1.1230 and 1.1066), a break above targets 1.1129 (38.2% retracement). On the downside, support is seen at 1.1060 (July 31 Low), a break below could drag it below 1.1026 (August 1 Low).

USD/JPY: The dollar eased after rising for three straight sessions, as investors turned cautious ahead of the U.S. Federal Reserve’s Jackson Hole symposium this week for greater clarity on the future path of interest rates. The major was trading 0.2 percent down at 106.47, having hit a low of 105.05 last week, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of Fed's Quarles' speech. Immediate resistance is located at 107.09 (21-DMA), a break above targets 107.56 (August 2 High). On the downside, support is seen at 105.89 (August 8 Low), a break below could take it lower at 105.29 (Aug. 9 Low).

GBP/USD: Sterling declined, extending previous session losses, as investors cautiously awaited Prime Minister Boris Johnson's meeting with French President Emmanuel Macron and German Chancellor Angela Merkel this week ahead of a G7 summit on Aug. 24-26 in Biarritz, France. The major traded 0.1 percent down at 1.2112, having hit a low of 1.2014 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 1.2210 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2331 (61.8% retracement). On the downside, support is seen at 1.2091 (5-DMA), a break below targets 1.2041 (August 13, Low). Against the euro, the pound was trading 0.1 percent down at 91.45 pence, having hit a high of 90.90 on Friday, it’s highest since July 31.

AUD/USD: The Australian dollar rose, reversing most of its previous session losses, after minutes of the Reserve Bank of Australia's August meeting suggested the central bank wasn't in a rush to cut rates again. The Aussie trades 0.3 percent up at 0.6795, having hit a low of 0.6677 earlier in the month, 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 0.6735 (August 13 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 rose after tumbling to a near 2-week low earlier in the session, as expectations policymakers around the world would unleash fresh stimulus drove an improvement in appetite for riskier assets. The Kiwi trades 0.2 percent up at 0.6416, having touched a low of 0.6403 earlier, its lowest level August 7. 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

Tokyo's Nikkei
surged 0.6 percent to 20,677.22 points, Australia's S&P/ASX 200 index rallied 1.2 percent to 6,545.00 points and South Korea's KOSPI gained 1.1 percent to 1,961.49 points.

Hong Kong’s Hang Seng traded 0.1 percent lower at 26,267.05 points. Taiwan shares added 0.3 percent to 10,522.50 points.



Commodities Recap

Crude Oil prices surged to a 6-day peak after rising by 2 percent in the previous session on optimism that U.S.-China trade tensions would ease. International benchmark Brent crude was trading higher at $59.77 per barrel by 0509 GMT, having hit a high of $59.90 earlier, its highest since August 14. U.S. West Texas Intermediate was trading up at $56.16 a barrel, after rising as high as $56.37 on Monday, its highest since August 14.

Gold prices declined to a 1-week low after falling by more than 1 percent in the prior session as concerns eased that major economies could tip into recession. Spot gold was trading 0.05 percent down at $1,496.01 per ounce by 0542 GMT, having touched a low of $1,492.74 earlier, its lowest since August 13. U.S. gold futures fell 0.7 percent to $1,512.30.









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#546

Post by B0N3 » Wed Aug 21, 2019 10:49 pm

Asia Roundup:
Dollar gains ahead of Fed minutes, gold steadies above $1,500 amid prevailing recession fears, Asian shares consolidate –
Wednesday, August 21st, 2019






Market Roundup

Gold prices hold firm above $1,500

Brent oil futures climb above $60 on U.S. inventory draw

Fed minutes in focus

U.S. yields capped before Jackson Hole



Economic Data Ahead

(0500 ET/0900 GMT) UK public sector net borrowing July



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY:
The dollar index bounced back after falling to a near 1-week low earlier in the session on the prospect of more easing by the Federal Reserve. The greenback against a basket of currencies traded 0.1 percent up at 98.28, having touched a high of 98.45 on Tuesday, its highest since August 1.

EUR/USD: The euro consolidated within narrow ranges after rebounding from a 2-1/2 week low hit in the previous session following Italy’s Prime Minister Giuseppe Conte's resignation. The upside in the major appears fragile as the German economy may have continued to shrink over the summer as industrial production declined. The European currency traded flat at 1.1095, having touched a low of 1.1065 on Tuesday, its lowest since August 1. Investors’ attention will remain on the U.S. existing home sales and FOMC minutes, amid a lack of economic data from the Eurozone docket. Immediate resistance is located at 1.1128 (38.2% retracement of 1.1230 and 1.1065), a break above targets 1.1147 (50.0% retracement). On the downside, support is seen at 1.1060 (July 31 Low), a break below could drag it below 1.1026 (August 1 Low).

USD/JPY: The dollar gained as investors await the minutes of the Federal Reserve’s July meeting for possible clues on further U.S. interest rate cuts. Markets also eye the central bank’s Jackson Hole seminar later this week and a Group of Seven summit this weekend for clues on what additional steps policymakers may take to boost economic growth. The major was trading 0.2 percent up at 106.55, having hit a low of 105.05 last week, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. existing home sales and FOMC minutes. Immediate resistance is located at 107.01 (21-DMA), a break above targets 107.56 (August 2 High). On the downside, support is seen at 105.89 (August 8 Low), a break below could take it lower at 105.29 (Aug. 9 Low).

GBP/USD: Sterling eased after rising to a 1-1/2 week peak in the previous session on German Chancellor Angela Merkel comments, citing that the European Union would think about practical solutions regarding the post-Brexit Irish border. The major traded 0.2 percent down at 1.2139, having hit a high of 1.2179 on Tuesday, it’s highest since August 8. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2210 (38.2% retracement of 1.2522 and 1.2079), a break above could take it near 1.2331 (61.8% retracement). On the downside, support is seen at 1.2099 (10-DMA), a break below targets 1.2041 (August 13, Low). Against the euro, the pound was trading 0.2 percent down at 91.38 pence, having hit a high of 90.90 on Friday, it’s highest since July 31.

AUD/USD: The Australian dollar traded with narrow ranges after the Reserve Bank of Australia on Tuesday signalled that it'll wait for a while before making any potential decision to cut its interest rate further from current levels. The Aussie trades flat at 0.6778, having hit a low of 0.6677 earlier in the month, 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 0.6735 (August 13 Low), a break below targets 0.6700. On the upside, resistance is located at 0.6831 (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 eased to a fresh 2-week low as the local central bank is considered more prone to cut interest rates than Australia's. The Kiwi trades 0.2 percent down at 0.6403, having touched a low of 0.6402 earlier, its lowest level August 7. 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 traded flat as worries about global recession and trade wars vied with hopes for a lot more monetary and fiscal stimulus.

MSCI's broadest of Asia-Pacific shares outside Japan consolidated with narrow ranges.

Tokyo's Nikkei declined 0.3 percent to 20,618.57 points, Australia's S&P/ASX 200 index fell 0.9 percent to 6,483.30 points and South Korea's KOSPI gained 0.2 percent to 1,964.65 points.

Hong Kong’s Hang Seng traded 0.05 percent higher at 26,235.96 points. Taiwan shares added 0.05 percent to 10,525.80 points.

Shanghai Composite Index rose 0.01 percent to 2,880.25 points, while CSI 300 index traded 0.2 percent down at 3,781.79 points.



Commodities Recap


Crude Oil prices surged, extending gains for the fourth straight session after a data report showed a larger-than-expected drop in U.S. crude inventories, although ongoing worries about a possible global recession capped gains. International benchmark Brent crude was trading 0.5 percent higher at $60.33 per barrel by 0548 GMT, having hit a high of $60.37 earlier, its highest since August 14. U.S. West Texas Intermediate was trading 0.5 percent up at $56.34 a barrel, after rising as high as $56.57 on Tuesday, its highest since August 14.

Gold prices declined as investors wait the minutes of the Federal Reserve’s July meeting for possible clues on further U.S. interest rate cuts. Spot gold eased 0.3 percent to $1,502.90 per ounce by 0556 GMT, having touched a low of $1,492.74 on Tuesday, its lowest since August 13. U.S. gold futures were flat at $1,516.20 an ounce.








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#547

Post by B0N3 » Thu Aug 22, 2019 7:58 pm

Asia Roundup:
Japanese yen trades marginally higher after manufacturing PMI data, Asian markets slightly down, gold hovers around $1,500 mark-
Thursday, August 22, 2019






Market Roundup

Australia’s manufacturing PMI at 51.3 vs 51.6 previous release.

Australia’s services PMI at 49.2 vs 52.3 previous release.

Japan flash manufacturing PMI m/m at 49.5 pct vs 49.4 pct previous release.

Japan all industries activities m/m at -0.8 pct vs 0.5 pct previous release.



Economic Data Ahead

(0315 ET/0715 GMT) French manufacturing PMI, previous 49.7, expected 49.5.

(0315 ET/0715 GMT) French markit composite PMI, previous 51.9, expected 51.8.

(0315 ET/0715 GMT) French services PMI, previous 52.6, expected 52.5.

(0330 ET/0730 GMT) German composite PMI, previous 50.9, expected 50.5.

(0330 ET/0730 GMT) German manufacturing PMI, previous 43.2, expected 43.0.

(0330 ET/0730 GMT) German services PMI, previous 54.5, expected 54.1.

(0400 ET/0800 GMT) Taiwan unemployment rate, previous 3.74 pct.

(0400 ET/0800 GMT) Euro zone manufacturing PMI, previous 46.5, expected 46.3.

(0400 ET/0800 GMT) Euro zone markit composite PMI, previous 51.5, expected 51.2.

(0400 ET/0800 GMT) Euro zone services PMI, previous 53.2, expected 53.0.

(0600 ET/1000 GMT) UK CBI distributive traddes survey, previous -16, expected -13.

(0700 ET/1100 GMT) Brazil FGV consumer confidence, previous 88.1.

(0800 ET/1200 GMT) Brazil mid month CPI m/m, y/y.



Key Events Ahead

(0730 ET/1130 GMT) ECB publishes account of monetary policy meeting.



FX Beat

USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.02% to 98.32.

EUR/USD: The euro trades flat against U.S. dollar and remains well supported below 1.11 mark. It made intraday high at $1.1092 and low at $1.1081mark. 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 $1.1158, $1.1220, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively.

USD/JPY: The Japanese yen trades marginally higher against U.S. dollar after robust manufacturing PMI data and trading around 106.44 mark. It made intraday high at 106.65 and low at 106.40 levels. A sustained close above 106.73 is required to take the parity higher towards key resistances around 107.56, 108.52, 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 105.29 will drag the parity down towards key support around 104.20 mark.

GBP/USD: The pound trades flat against U.S. dollar and stabilizes above $1.2100 mark. A sustained close below $1.2022 requires for dragging the parity down towards key support around $1.1920 and $1.1754 mark respectively. On the other side, key resistances are seen at $1.2177, $1.2226, $1.2383, $1.2576 and $1.2772 levels respectively.

AUD/USD: The Aussie depreciates against U.S. dollar as Australia’s manufacturing PMI as well as services PMI data miss expectations. The pair made intraday high at $0.6787 and low at $0.6758 levels. A consistent close below $0.6747 requires for downside rally. On the other side, a sustained close above $0.6802 will take the parity higher towards $0.6977 and $0.7076 levels respectively.

NZD/USD: The New Zealand dollar falls noticeably against U.S. dollar and hits lowest level since Jan 2016. Pair made intraday high at $0.6407 and low at $0.6371. A sustained close above $0.6480 requires for the upside rally. Alternatively, current downside rally will take the parity down towards key supports around $0.6347, $0.6236 and $0.6196.



Equities Recap

Tokyo's Nikkei was trading 0.02 pct lower at 20,615.50 points.

Hong Kong’s Hang Seng was trading 0.98 percent lower at 26,013.48 points.


Commodities Recap

Crude Oil prices were trading slightly lower on Thursday. U.S. Crude Oil WTI Futures were trading 0.23% lower to $55.45. International Brent Oil Futures fell 0.48% to $60.01.

Gold trades flat at $1,500 on Thursday after disappointed FOMC meeting minutes. Pair made intraday high at $1,504 and low at $1,498 mark. Sustained close above $1,522 requires for the upside rally. Alternatively, reversal from key resistance will drag the parity down towards $1,472 and $1,445 marks respectively.









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#548

Post by B0N3 » Fri Aug 23, 2019 8:37 pm

Asia Roundup:
Kiwi rebounds on RBNZ comments, greenback gains ahead of Fed chair Jerome Powell’s speech at Jackson Hole, oil prices nudge higher –
Friday, August 23rd, 2019






Market Roundup

RBNZ Governor Adrian Orr: He can afford to wait on monetary policy

Gold set for worst week in about five months

Powell's speech in focus



Economic Data Ahead

No major economic data releases



Key Events Ahead

No significant event scheduled



FX Beat

DXY:
The dollar index rose after Philadelphia Federal Reserve Bank President Patrick Harker and Kansas City Federal Reserve Bank President Esther George both said they saw no immediate need to cut rates. Investors now await a closely watched Fed Chairman Powell’s speech at the Jackson Hole seminar due later in the day for clarity on monetary policy after minutes of the U.S. central bank’s July meeting tempered hopes of aggressive rate cuts. The greenback against a basket of currencies traded 0.2 percent up at 98.37, having touched a high of 98.45 on Tuesday, its highest since August 1.

EUR/USD: The euro plunged to a fresh 3-week low as the weakness in the Eurozone manufacturing sector and future expectations the European Central Bank was on track to ease policy in September dented investor sentiment. The European currency traded 0.1 percent down at 1.1067, having touched a low of 1.1060 earlier, its lowest since August 1. Investors’ attention will remain on the U.S. new home sales and series of speeches by Fed officials, amid a lack of economic data from the Eurozone docket. Immediate resistance is located at 1.1102 (23.6% retracement of 1.1230 and 1.1060, a break above targets 1.1146 (50.0% retracement). On the downside, support is seen at 1.1045, a break below could drag it below 1.1026 (August 1 Low).

USD/JPY: The dollar edged up, reversing most of its previous session losses on expectations a crucial speech by Federal Reserve Chairman Jerome Powell will reinforce that the U.S. central bank has not entered a prolonged monetary easing cycle. The major was trading 0.2 percent up at 106.63, having hit a low of 105.05 last week, its lowest since Jan 3. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. new home sales and series of speeches by Fed officials. Immediate resistance is located at 106.85 (21-DMA), a break above targets 107.56 (August 2 High). On the downside, support is seen at 105.89 (August 8 Low), a break below could take it lower at 105.29 (Aug. 9 Low).

GBP/USD: Sterling plunged after rising to a 3-1/2 week peak hit in the previous session and was on course for a second weekly gain, despite the uncertainty over how Britain will complete its transition from the European Union. The major traded 0.2 percent down at 1.2219, having hit a high of 1.2273 on Thursday, it’s highest since July 29. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2331 (61.8% retracement of 1.2522 and 1.2079), a break above could take it near 1.2417 (78.6% retracement). On the downside, support is seen at 1.2156 (21-DMA), a break below targets 1.2108 (10-DMA). Against the euro, the pound was trading 0.2 percent down at 90.58 pence, having hit a high of 90.28 on Thursday, it’s highest since July 29.

AUD/USD: The Australian dollar declined to a 1-week low, ahead of the Fed Chair Jerome Powell's scheduled speech at Jackson Hole Symposium later during the North-American session. The Aussie trades 0.05 percent down at 0.6752, having hit a low of 0.6745 earlier, it’s lowest since August 14. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6735 (August 13 Low), a break below targets 0.6700. On the upside, resistance is located at 0.6831 (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 steadied after falling to multi-year lows in the previous session after Reserve Bank of New Zealand Governor Adrian Orr told Bloomberg TV he can afford to wait on monetary policy after surprising investors earlier this month with a sharp 50-basis-point rate cut. The Kiwi trades 0.4 percent up at 0.6387, having touched a low of 0.6361 on Thursday, its lowest level January 2016. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6425 (10-DMA), a break above could take it near 0.6462 (23.6% retracement of 0.6790 and 0.6376). On the downside, support is seen at 0.6345, a break below could drag it below 0.6300.



Equities Recap

Asian shares
nudged higher despite uncertainty over how much further the U.S. Federal Reserve would cut interest rates.

MSCI's broadest of Asia-Pacific shares outside Japan edged 0.1 percent higher and was up 0.8 percent for the week.

Tokyo's Nikkei rallied 0.4 percent to 20,710.91 points, Australia's S&P/ASX 200 index surged 0.3 percent to 6,523.10 points and South Korea's KOSPI fell 0.1 percent to 1,948.30 points.

Hong Kong’s Hang Seng traded 0.6 percent higher at 26,200.21 points. Taiwan shares added 0.1 percent to 10,538.11 points.

Shanghai Composite Index rose 0.5 percent to 2,897.43 points, while CSI 300 index traded 0.7 percent up at 3,820.86 points.



Commodities Recap

Crude Oil prices edged up, reversing some of its previous day’s losses, as tighter supplies from key producers offset slowing demand growth, while investors await clues on the U.S. Federal Reserve’s monetary policy. International benchmark Brent crude was trading 0.2 percent higher at $60.09 per barrel by 0555 GMT, having hit a high of $60.37 on Wednesday, its highest since August 14. U.S. West Texas Intermediate was trading 0.2 percent up at $55.47 a barrel, after rising as high as $57.11 on Wednesday, its highest since August 13.

Gold prices eased, extending losses for the third straight session and was set for its worst week in nearly five months, as lack of clarity from U.S. Federal Reserve on the outlook for interest rate cuts triggered investors to cash in some gains ahead of Jerome Powell’s speech at Jackson Hole. Spot gold was trading 0.2 percent down at $1,494.68 per ounce by 0557 GMT and has lost nearly 1.3 percent so far this week, putting it on track for its biggest weekly percentage decline since March 29. U.S. gold futures slipped 0.3 percent at $1,504.20 an ounce.








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#549

Post by B0N3 » Mon Aug 26, 2019 7:45 pm

Asia Roundup:
Antipodeans tumble as trade tensions escalate; yen rallies, gold scales over 6-year peak on risk-off appetite –
Monday, August 26th, 2019






Market Roundup

Yen surges as trade war intensifies

Gold touches over 6-year peak on risk-off appetite

Oil eases as trade war raises recession fears



Economic Data Ahead

(0400 ET/0800 GMT) German IFO- Expectations August

(0400 ET/0800 GMT) German IFO- Business Climate August

(0400 ET/0800 GMT) German IFO- Current Assessment August



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY:
The dollar index steadied after falling tumbling to a 2-week low in the previous session as yields on benchmark 10-year Treasury debt dropped to their lowest since mid-2016. The greenback against a basket of currencies traded 0.4 percent up at 97.68, having touched a low of 97.17 on Friday, its lowest since August 9.

EUR/USD: The euro surged to a 1-1/2 week peak, as the greenback plunged across the board following the announcement of new tariffs in the escalating U.S.-China trade war. However, the upside in the major was limited amid speculation the European Central Bank will have to ease aggressively next month. The European currency traded 0.4 percent up at 1.1144, having touched a high of 1.1163 earlier, its highest since August 14. Investors’ attention will remain on German IFO survey, ahead of the U.S. durable goods orders. Immediate resistance is located at 1.1192 (78.6% retracement of 1.1230 and 1.1060, a break above targets 1.1230 (August 12 High). On the downside, support is seen at 1.1119 (10-DMA), a break below could drag it below 1.1095 (5-DMA).

USD/JPY: The dollar plunged to a near 3-year low after U.S. President Donald Trump, on Friday, announced a 5 percent additional duty on $550 billion in targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of U.S. products. Additionally, Trump urged some of the U.S. companies to leave China. The major was trading flat at 105.31, having hit a low of 104.44 earlier, its lowest since November 2016. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. durable goods orders. Immediate resistance is located at 106.16 (10-DMA), a break above targets 106.70 (21-DMA). On the downside, support is seen at 104.30 , a break below could take it lower at 104.00.

GBP/USD: Sterling edged lower from a near 4-week peak on news that the UK Prime Minister Boris Johnson’s office has sought legal advice from the attorney-general Geoffrey Cox about the possibility of shutting down parliament from September. The major traded 0.1 percent down at 1.2269, having hit a high of 1.2293 on Friday, it’s highest since July 29. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2331 (61.8% retracement of 1.2522 and 1.2079), a break above could take it near 1.2417 (78.6% retracement). On the downside, support is seen at 1.2188 (5-DMA), a break below targets 1.2134 (10-DMA). Against the euro, the pound was trading 0.2 percent down at 90.81 pence, having hit a high of 90.28 on Thursday, it’s highest since July 29.

AUD/USD: The Australian dollar slumped to a 2-1/2 week low after China announced tariffs on $75 billion of US goods while Trump responded by promising another 5 percent on all $550 billion Chinese imports. The Aussie trades 0.3 percent down at 0.6730, having hit a low of 0.6689 earlier, it’s lowest since August 7. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6677 (August 7 Low), a break below targets 0.6630. On the upside, resistance is located at 0.6766 (10-DMA), a break above could take it near 0.6792 (21-DMA).

NZD/USD: The New Zealand dollar tumbled to multi-year lows, after the US President Trump mentioned that 10 percent levy on $300 billion of Chinese goods would be raised to 15 percent from September 01 (and December 15 in some cases) and the existing 25 percent levy on $250 billion of Chinese goods would lift to 30 percent from October 01. The Kiwi trades 0.3 percent down at 0.6377, having touched a low of 0.6340 earlier, its lowest level September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6436 (38.2% retracement of 0.6590 and 0.6340), a break above could take it near 0.6465 (50.0% retracement). On the downside, support is seen at 0.6333, a break below could drag it below 0.6300.



Equities Recap

Asian shares
plunged as the latest salvo in the U.S.-China trade war weakened investor sentiment and sent them steaming to the safe harbors of sovereign bonds and gold.

MSCI's broadest of Asia-Pacific shares outside Japan tumbled 2.0 percent

Tokyo's Nikkei Nikkei slumped 2.2 percent to 20,264.60 points, Australia's S&P/ASX 200 index declined 1.3 percent to 6,440.10 points and South Korea's KOSPI eased 1.5 percent to 1,917.88 points.

Hong Kong’s Hang Seng traded 2.9 percent lower at 25,388.08 points. Taiwan shares shed 1.8 percent to 10,354.57 points.

Shanghai Composite Index fell 1.4 percent to 2,857.90 points, while CSI 300 index traded 1.7 percent down at 3,757.23 points.



Commodities Recap

Crude Oil prices declined, extending losses for the third straight session, as an intensifying U.S.-China trade war weakened confidence in the global economy. International benchmark Brent crude was trading 0.6 percent lower at $58.72 per barrel by 0422 GMT, having hit a low of $58.29 on Friday, its lowest since August 16. U.S. West Texas Intermediate was trading 0.6 percent down at $53.32 a barrel, after falling as low as $52.95 earlier, its lowest since August 9.

Gold prices rallied to a fresh 6-year high as the announcement of new tariffs in the escalating U.S.-China trade war sent investors rushing for safe-haven assets. Spot gold rose 1.1 percent to $1,541.65 per ounce by 0428 GMT, having touched a high of $1,555.10 earlier, its highest since August 2013. U.S. gold futures were up 1.1 percent at $1,554.90 an ounce.








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#550

Post by B0N3 » Tue Aug 27, 2019 7:23 pm

Asia Roundup:
Aussie eases on RBA Debelle's comments; gold consolidates as trade war fears ebb, Asian shares surge –
Tuesday, August 27th, 2019






Market Roundup

RBA's Debelle: Floor for Australian interest rates at 0-0.5%

Gold steady as markets seek clarity on trade war

Yen gains as traders temper optimism over U.S.-China trade deal



Economic Data Ahead

No major economic data releases



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index slightly eased after U.S. President Donald Trump flagged the possibility of a trade deal with China and said he believed Beijing was sincere in its desire to reach an agreement. The greenback against a basket of currencies traded 0.05 percent down at 97.97, having touched a low of 97.17 on Friday, its lowest since August 9.

EUR/USD: The euro consolidated within narrow ranges, amid concerns escalating trade disputes were pushing the German economy toward a recession. The European currency traded flat at 1.1099, having touched a high of 1.1163 on Monday, its highest since August 14. Investors’ attention will remain on ECB De Guindos' speech, ahead of the U.S. housing price index and consumer confidence. Immediate resistance is located at 1.1119 (38.2% retracement of 1.1230 and 1.1051), a break above targets 1.1162 (61.8% retracement). On the downside, support is seen at 1.1079 (August 21 Low), a break below could drag it below 1.1051 (August 23 Low).

USD/JPY: The dollar declined as benchmark 10-year U.S. Treasury yields fell to 1.5232 percent, while the yield curve was inverted as 2-year yields traded at 1.5267 percent, which is commonly considered a sign of an impending economic recession. The major was trading 0.4 percent down at 105.64, having hit a low of 104.44 on Monday, its lowest since November 2016. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. housing price index and consumer confidence. Immediate resistance is located at 106.58 (21-DMA), a break above targets 107.09 (August 6 High). On the downside, support is seen at 105.26 (August 9 Low), a break below could take it lower at 105.05 (August 12 Low).

GBP/USD: Sterling steadied after falling from a near 4-week peak as investors reassessed whether British Prime Minister Boris Johnson had made any progress in convincing the European Union to renegotiate the Brexit agreement. The major traded flat at 1.2215, having hit a high of 1.2293 on Friday, it’s highest since July 29. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2331 (61.8% retracement of 1.2522 and 1.2079), a break above could take it near 1.2417 (78.6% retracement). On the downside, support is seen at 1.2149 (10-DMA), a break below targets 1.2108 (August 22 Low). Against the euro, the pound was trading flat at 90.84 pence, having hit a high of 90.28 on Thursday, it’s highest since July 29.

AUD/USD: The Australian dollar plunged after Reserve Bank of Australia Deputy Governor Guy Debelle said that the floor for the country's benchmark cash rate was likely around 0-0.5 percent, though he hoped policymakers never have to get down to those levels. The Aussie trades 0.3 percent down at 0.6757, having hit a low of 0.6689 on Monday, it’s lowest since August 7. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6677 (August 7 Low), a break below targets 0.6630. On the upside, resistance is located at 0.6799 (August 2 1 High), a break above could take it near 0.6822 (August 8 High).

NZD/USD: The New Zealand dollar eased as some investors tempered their optimism about the chances for a quick resolution to the U.S.-China trade war. The Kiwi trades 0.3 percent down at 0.6368, having touched a low of 0.6340 on Monday, its lowest level September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6436 (38.2% retracement of 0.6590 and 0.6340), a break above could take it near 0.6465 (50.0% retracement). On the downside, support is seen at 0.6333, a break below could drag it below 0.6300.



Equities Recap

Asian shares
surged after U.S. President Donald Trump flagged the possibility of a trade deal with China, days after both sides announced new tariffs.

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

Tokyo's Nikkei surged 0.9 percent to 20,456.08 points, Australia's S&P/ASX 200 index rallied 0.5 percent to 6,471.20 points and South Korea's KOSPI gained 0.2 percent to 1,920.95 points.

Hong Kong’s Hang Seng traded 0.3 percent lower at 25,613.69 points. Taiwan shares added 0.3 percent to 10,387.23 points.

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



Commodities Recap

Crude Oil prices surged after U.S. President Donald Trump predicted a trade deal with China after positive comments by Beijing. International benchmark Brent crude was trading 0.3 percent higher at $58.99 per barrel by 0501 GMT, having hit a low of $58.29 on Friday, its lowest since August 16. U.S. West Texas Intermediate was trading 0.4 percent up at $53.98 a barrel, after falling as low as $52.95 on Monday, its lowest since August 9.

Gold prices steadied after easing from an over 6-year peak hit in the previous session, as U.S. President Donald Trump predicted a trade deal with China and calmed global markets that have been rattled by new tariffs. Spot gold was trading 0.1 percent up at $1,528.12 per ounce by 0504 GMT, having touched a high of $1,555.10 on Monday, its highest since August 2013. U.S. gold futures were flat at $1,537.50 an ounce.








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