FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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#571

Post by B0N3 » Mon Oct 07, 2019 6:17 pm

Asia Roundup:
Kiwi steadies as RBNZ rate cut concerns ease, yen rallies amid caution over U.S.-China trade talks, Asian shares surge –
Monday, October 7th, 2019






Market Roundup

Gold edges higher ahead of U.S.-China trade talks

U.S. unemployment rate dropped to the lowest in almost 50 years



Economic Data Ahead

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

(0430 ET/0830 GMT) EZ Sentix Investor Confidence October



Key Events Ahead

No significant events scheduled



FX Beat

DXY:
The dollar index rebounded as Friday's data showed U.S. jobs growth increased modestly in September. U.S. nonfarm payrolls increased by 136,000 jobs last month, while August data was revised to show 168,000 jobs created instead of the previously reported 130,000. The greenback against a basket of currencies traded 0.05 percent up at 98.87, having touched a low of 98.64 on Thursday, its highest since September 25.

EUR/USD: The euro eased, halting a 4-day rally as concern grew that the European Central Bank had only limited room to boost growth and inflation. However, the downside appears limited as revised data released on Friday showed the Italian economy grew slightly more than previously in the first half of this year. The European currency traded flat at 1.0978, having touched a high of 1.0999 on Thursday, its highest since September 25. Investors’ attention will remain on a series of data out from the Eurozone economies and EZ sentix investor confidence, ahead of the U.S. consumer credit change and Fed Chair Powell's speech. Immediate resistance is located at 1.1021 (61.8% retracement of 1.1109 and 1.0879), a break above targets 1.1060 (78.6% retracement). On the downside, support is seen at 1.0945 (5-DMA), a break below could drag it below 1.0904.

USD/JPY: The dollar plunged, extending losses for the fifth straight session, as risk sentiment weakened after Bloomberg reported that Chinese officials are signalling they are reluctant to agree to a broad deal pursued by U.S. President Donald Trump. The major was trading 0.05 percent down at 106.84, having hit a low of 106.48 on Thursday, its lowest since September 24. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer credit change and Fed Chair Powell's speech. Immediate resistance is located at 107.36 (5-DMA), a break above targets 107.58 (September 10 High). On the downside, support is seen at 106.32 (September 5 Low), a break below could take it near at 106.02 (August 16 Low).

GBP/USD: Sterling eased as investors remained cautious amid uncertainties over Brexit deal. British Prime Minister Boris Johnson is still seeking significant changes to how the issue of the Irish border is dealt ahead of UK’s scheduled exit from the European Union on October 31. The major traded 0.05 percent down at 1.2322, having hit a high of 1.2413 on Thursday, it’s highest since September 25. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2376 (21-DMA), a break above could take it near 1.2400. On the downside, support is seen at 1.2270 (September 27 Low), a break below targets 1.2233 (September 9 Low). Against the euro, the pound was trading 0.2 percent down at 89.13 pence, having hit a low of 89.36 on Thursday, it’s lowest since Sept. 13.

AUD/USD: The Australian dollar declined as investors nervously awaited U.S.-China talks this week for signs of whether the two sides can de-escalate or end their trade war. The Aussie trades 0.3 percent down at 0.6749, having hit a high of 0.6773 on Friday, it’s highest since October 1. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6687, a break below targets 0.6635. On the upside, resistance is located at 0.6799 (August 21 High), a break above could take it near 0.6803 (September 25 High).

NZD/USD: The New Zealand dollar edged higher after the Reserve Bank of New Zealand said that new information it had received since the last Monetary Policy Statement by the bank in August did not warrant a significant change to the monetary policy outlook. The Kiwi trades 0.05 percent up at 0.6315, having touched a high of 0.6336 on Friday, its highest level since September 25. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6277 (5-DMA), a break below could drag it below 0.6249.



Equities Recap

Asian Stock
surged after data showed the U.S. unemployment rate declined to the lowest in almost 50 years, easing concerns of a slowdown in the economy.ion.

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

Tokyo's Nikkei eased 0.2 percent to 21,368.63 points, Australia's S&P/ASX 200 index rallied 0.7 percent to 6,563.60 points.

Chinese markets remained closed.





Commodities Recap

Crude Oil prices eased, halting a 2-day rally, amid fears the global economic slowdown will weigh on future oil demand growth. International benchmark Brent crude was trading 0.3 percent up at $58.01 per barrel by 0517 GMT, having hit a low of $57.13 on Thursday, its lowest since August 7. U.S. West Texas Intermediate was trading 0.1 percent lower at $52.84 a barrel, after falling as low as $52.27 on Thursday, its lowest since August 7.

Gold prices edged higher, reversing most of its previous session losses, as investors were cautious ahead of this week’s U.S.-China trade talks following a report that Beijing would likely disagree to a broad trade deal with the United States. Spot gold gained 0.1 percent to $1,504.93 per ounce by 0525 GMT, having touched a high of $1,519.53 on Thursday, its highest since September 25. U.S. gold futures were little changed at $1,513.30 per ounce.



Treasuries Recap

The Japanese government bonds firmed as investors turned cautious about the outcome of U.S.-China trade talks. The benchmark 10-year JGB futures rose 0.06 point to 155.21. The 10-year JGB yield fell 1 basis point to minus 0.225 percent, declining further from its 2-month high of minus 0.145 percent. The five-year yield fell 0.5 basis point to minus 0.375 percent, inching towards a record low of minus 0.400 percent touched last month. Longer maturities were little changed with both the 20-year JGB yield and 30-year yield flat at 0.180 percent and 0.350 percent.

The Australian government bonds opened on a higher note on the first trading day of the week, tracking a similar movement in the United States Treasuries following global economic concerns, after employment data in the U.S. disappointed market sentiments. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slumped 2 basis points to 0.878 percent, the yield on the long-term 30-year bond suffered 2-1/2 basis points to 1.491 percent and the yield on short-term 2-year too traded 2 basis points lower at 0.617 percent.







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#572

Post by B0N3 » Tue Oct 08, 2019 6:21 pm

Asia Roundup:
Kiwi rallies on upbeat economic data, dollar gains against yen ahead of U.S.-China trade talks, Asian shares nudge higher –
Tuesday, October 8th, 2019






Market Roundup

Gold edges lower ahead of trade talks

Oil edges higher on supply worries



Economic Data Ahead

(0400 ET/0800 GMT) Italy Retail Sales



Key Events Ahead

(0300 ET/0700 GMT) ECB non-monetary policy meeting



FX Beat

DXY: The dollar index eased ahead of upcoming U.S.-China trade talks in Washington. On Monday, U.S. and Chinese deputy trade negotiators launched two days of talks aimed at paving the way later this week for the first minister-level negotiations in months. The greenback against a basket of currencies traded 0.05 percent down at 98.93, having touched a low of 98.64 on Thursday, its highest since September 25.

EUR/USD: The euro steadied after falling from a near 2-week peak in the previous session on European Central Bank's comments, stating that half of the euro zone’s biggest banks wouldn’t survive a six-month cash drought, with larger firms and subsidiaries of foreign institutions among the most vulnerable. The European currency traded flat at 1.0976, having touched a high of 1.0999 on Thursday, its highest since September 25. Investors’ attention will remain on a series of data out from the Eurozone economies and ECB non-monetary policy meeting, ahead of the U.S. producer price index, Fed Evan and Chair Powell's speech. Immediate resistance is located at 1.1019 (61.8% retracement of 1.1109 and 1.0879), a break above targets 1.1059 (78.6% retracement). On the downside, support is seen at 1.0952 (10-DMA), a break below could drag it below 1.0904.

USD/JPY: The dollar surged, extending previous session gains after a Fox Business reporter tweeted that the Chinese Commerce Ministry said that China is ready to do a deal with the United States on parts of negotiations both sides agree upon. The major was trading 0.1 percent up at 107.54, having hit a low of 106.48 on Thursday, its lowest since September 24. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. Fed Evan and Chair Powell's speech. Immediate resistance is located at 107.67 (21-DMA), a break above targets 107.95 (September 26 High). On the downside, support is seen at 106.96 (September 24 Low), a break below could take it near at 106.32 (September 5 Low).

GBP/USD: Sterling consolidated within narrow ranges, amid increasing concerns about a lack of progress between Britain and the European Union to agree a Brexit withdrawal deal. The major traded flat at 1.2296, having hit a high of 1.2413 on Thursday, it’s highest since September 25. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2356, a break above could take it near 1.2400. On the downside, support is seen at 1.2233 (September 9 Low), a break below targets 1.2194 (August 23 Low). Against the euro, the pound was trading flat at 89.25 pence, having hit a low of 89.36 on Friday, it’s lowest since Sept. 13.

AUD/USD: The Australian dollar surged, reversing some of its previous session losses, as top-level U.S.-China trade talks are scheduled to resume later in the week, when Chinese Vice Premier Liu He meets with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in Washington. The Aussie trades 0.3 percent up at 0.6749, having hit a high of 0.6773 on Friday, it’s highest since October 1. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6687, a break below targets 0.6635. On the upside, resistance is located at 0.6799 (August 21 High), a break above could take it near 0.6803 (September 25 High).

NZD/USD: The New Zealand dollar rallied after data showed the government's surplus rose by $2 billion to $7.5 billion in the fiscal year ended June 2020, while the net government debt dropped to 19.2 percent of GDP, down from 19.9 percent a year ago. The Kiwi trades 0.5 percent up at 0.6315, having touched a high of 0.6336 on Friday, its highest level since September 25. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6266, a break below could drag it below 0.6249.



Equities Recap

Asian shares
nudged up in early deals, while investors remained cautious ahead of tense U.S.-China trade talks.

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

Tokyo's Nikkei gained 1.1 percent to 21,611.90 points, Australia's S&P/ASX 200 index rallied 0.5 percent to 6,593.40 points and South Korea's KOSPI surged 0.9 percent to 2,040.25 points.

Hong Kong’s Hang Seng traded 0.7 percent higher at 25,992.13 points. Taiwan shares shed 0.8 percent to 11,017.31 points.





Commodities Recap

Crude Oil prices surged, supported by overnight gains in industrial commodities, while unrest in oil-producing countries Iraq and Ecuador raised concerns of supply disruption. International benchmark Brent crude was trading 0.5 percent up at $58.36 per barrel by 0518 GMT, having hit a low of $57.13 on Thursday, its lowest since August 7. U.S. West Texas Intermediate was trading 0.5 percent higher at $53.03 a barrel, after falling as low as $52.27 on Thursday, its lowest since August 7.

Gold prices declined, extending losses for a third straight session, weighed down by a stronger greenback and an uptick in equities ahead of upcoming U.S.-China trade talks in Washington. Spot gold was trading 0.2 percent down at $1,490.67 per ounce by 0520 GMT, having touched a high of $1,519.53 on Thursday, its highest since September 25. U.S. gold futures dropped 0.6 percent to $1,495.20.



Treasuries Recap

The Australian government bonds remained flat on the second trading day of the week Tuesday, as investors remained side-lined in a muted session ahead of the Reserve Bank of Australia’s (RBA) Financial Stability Review, scheduled to be released by end of this week. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, traded steady at 0.896 percent, the yield on the long-term 30-year bond also remained flat at 1.497 percent and the yield on short-term 2-year too hovered around 0.644 percent.









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#573

Post by B0N3 » Wed Oct 09, 2019 6:49 pm

Asia Roundup:
Yen eases as investors eye U.S.-China trade talks, greenback steadies on Fed Chair Powell's comments, Asian shares tumble –
Wednesday, October 9th, 2019






Market Roundup

U.S.-China trade doubts grow

Gold rises as risk sentiment weaken on trade uncertainty

Oil prices extend slide to third straight day

RBNZ needs to better explain bank-review benefits: Treasury



Economic Data Ahead

No major economic data releases



Key Events Ahead

No significant event scheduled




FX Beat

DXY:
The dollar index rallied, extending gains for the third straight session, as comments from Federal Reserve Chairman Jerome Powell were interpreted as suggesting further rate cuts later in October were not a done deal. The greenback against a basket of currencies traded 0.05 percent up at 99.13, having touched a low of 98.64 on Thursday, its highest since September 25.

EUR/USD: The euro steadied, halting a 2-day losing streak, after yesterday's news of an unexpected rise in German industrial output suggested the German economy may skip a recession. The European currency traded flat at 1.0949, having touched a high of 1.1006 on Monday, its highest since September 25. Investors’ attention will remain on the U.S. JOLTS Job openings data, wholesale inventories and Fed Chair Powell's speech, amid a lack of economic data from the Eurozone economies. Immediate resistance is located at 1.1019 (61.8% retracement of 1.1109 and 1.0879), a break above targets 1.1059 (78.6% retracement). On the downside, support is seen at 1.0937 (September 25 Low), a break below could drag it below 1.0904.

USD/JPY: The dollar rose, reversing some of its previous session losses, ahead of high-level talks involving Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday. The major was trading 0.1 percent up at 107.17, having hit a low of 106.48 on Thursday, its lowest since September 24. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. JOLTS Job openings data, wholesale inventories and Fed Chair Powell's speech. Immediate resistance is located at 107.46 (10-DMA), a break above targets 107.95 (September 26 High). On the downside, support is seen at 107.08 (October 9 Low), a break below could take it near at 106.62 (September 6 Low).

GBP/USD: Sterling eased, hovering towards a 1-month low touched in the previous session on reports that German Chancellor Angela Merkel and British Prime Minister Boris Johnson had spoken and that she had made clear a deal was overwhelmingly unlikely. The major traded 0.1 percent down at 1.2203, having hit a low of 1.2195 on Tuesday, it’s lowest since September 4. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2292 (5-DMA), a break above could take it near 1.2371 (21-DMA). On the downside, support is seen at 1.2154 (August 28 Low), a break below targets 1.2108 (August 22 Low). Against the euro, the pound was trading 0.1 percent down at 89.78 pence, having hit a low of 89.99 on Tuesday, it’s lowest since Sept. 9.

AUD/USD:The Australian dollar rose after declining for two straight sessions, supported by a subdued greenback demand. The Aussie trades 0.1 percent up at 0.6722, having hit a high of 0.6773 on Friday, it’s highest since October 1. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6687, a break below targets 0.6635. On the upside, resistance is located at 0.6799 (August 21 High), a break above could take it near 0.6803 (September 25 High).

NZD/USD: The New Zealand dollar surged, extending previous session gains, as banks and the government are waiting for the RBNZ’s final decisions on its review, which are due in early December. The Kiwi trades 0.1 percent up at 0.6316, having touched a high of 0.6336 on Friday, its highest level since September 25. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6266, a break below could drag it below 0.6249.



Equities Recap

Asian shares
tumbled as risk sentiment weakened amid the United States and China’s broadening dispute over trade and foreign policy.

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

Tokyo's Nikkei declined 0.6 percent to 21,456.38 points, Australia's S&P/ASX 200 index fell 0.7 percent to 6,546.70 points.

Hong Kong’s Hang Seng traded 0.8 percent lower at 25,700.36 points. Taiwan shares shed 1.1 percent to 10,889.96 points.

Shanghai rose 0.3 percent to 2,921.83 points, while CSI 300 index traded 0.05 percent up at 3,837.87 points.



Commodities Recap


Crude Oil prices declined, extending losses for the third consecutive session as the prospect of the United States and China striking a trade deal in talks this week dimmed, raising uncertainties for global economic growth and oil demand. International benchmark Brent crude was trading 0.2 percent down at $58.03 per barrel by 0517 GMT, having hit a low of $57.13 on Thursday, its lowest since August 7. U.S. West Texas Intermediate was trading 0.3 percent lower at $52.41 a barrel, after falling as low as $50.97 on Thursday, its lowest since August 7.

Gold prices steadied after rebounding from a 1-week low touched in the previous session, as uncertainties over U.S.-China trade talks and Brexit prompted investors to seek refuge in the safe-haven assets. Spot gold was trading flat at $1,505.47 per ounce by 0520 GMT, having touched a low of $1,486.72 on Tuesday, its lowest since October 2. U.S. gold futures settled mostly unchanged at $1,503.9 an ounce.



Treasuries Recap

The Japanese government bonds closed flat ahead of the country’s producer price index (PPI) for the month of September, scheduled to be released on October 9 by 23:50GMT and the super-long 30-year auction, due to be released on the following day by 03:35GMT, amid ongoing geopolitical tensions and worries over global economic slowdown. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, hovered around -0.208 percent, the yield on the long-term 30-year remained flat at 0.375 percent and the yield on short-term 2-year too held steady near -0.319 percent.

The Australian government bonds jumped tracking a similar movement in the United States’ Treasuries after Chairman of the Federal Reserve, Jerome Powell, announced an increase in the size of the central bank’s balance sheet soon. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slipped 1 basis point to 0.885 percent, the yield on the long-term 30-year bond also suffered 1 basis point to 1.486 percent and the yield on short-term 2-year remained tad down at 0.638 percent.









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#574

Post by B0N3 » Fri Oct 11, 2019 6:25 pm

Asia Roundup:
Antipodeans rally on U.S.-China trade talks hopes, greenback at multi-week lows as soft CPI figures support Fed rate cut speculation, investors eye EBC Draghi’s speech –
Friday, October 11th, 2019






Market Roundup

Gold inches lower on Trump's remarks

Oil extends gains on the prospect of deeper OPEC output cuts



Economic Data Ahead

(0300 ET/0700 GMT) Spain consumer price index September

(0300 ET/0700 GMT) Spain HICP September



Key Events Ahead

(0530 ET/0930 GMT) European Central Bank President Mario Draghi's Speech

(0630 ET/1030 GMT) European Central Bank Vice-President Luis De Guindos gives a speech



FX Beat

DXY: The dollar index plunged to multi-week lows after data showed U.S. consumer prices were unchanged in September and underlying inflation retreated, supporting expectations the Federal Reserve will cut interest rates in October for the third time this year. The greenback against a basket of currencies traded 0.05 percent down at 98.64, having touched a low of 98.62 earlier, its lowest since September 25.

EUR/USD: The euro rose, extending gains for the third straight session after German Finance Minister Olaf Scholz at a meeting of euro finance ministers in Luxemburg on Thursday stated that Eurozone countries will put in place a joint budget to boost economic reforms. The European currency traded 0.1 percent up at 1.1017, having touched a high of 1.1033 the day before, its highest since September 20. Investors’ attention will remain on a series of data out from the Eurozone economies and ECB Draghi and De Guindos' speech, ahead of the U.S. import and export price index, Michigan prelim consumer sentiment index, Fed official's speeches. Immediate resistance is located at 1.1059 (78.6% retracement of 1.1109 and 1.0879), a break above targets 1.1084. On the downside, support is seen at 1.0987 (21-DMA), a break below could drag it below 1.0957 (10-DMA).

USD/JPY: The dollar rallied to a near 2-week peak, as risk appetite improved after U.S. President Donald Trump said he would meet with China’s top trade negotiator today. The major was trading up at 107.99, having hit a high of 108.13 earlier, its highest since October 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. import and export price index, Michigan prelim consumer sentiment index, Fed official's speeches. Immediate resistance is located at 108.25 (September 13 High), a break above targets 108.63 (July 5 High). On the downside, support is seen at 107.66 (21-DMA), a break below could take it near at 107.31 (September 23 Low).

GBP/USD: Sterling surged, hovering towards a 2-week peak hit in the prior session after the prime ministers of Britain and Ireland revived hopes of a possible Brexit deal. On Thursday, Irish Prime Minister Leo Varadkar said a Brexit deal could be clinched by the end of October to allow the United Kingdom to leave the European Union. The major traded 0.2 percent up at 1.2466, having hit a high of 1.2469 on Thursday, it’s highest since September 25. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2503, a break above could take it near 1.2582. On the downside, support is seen at 1.2369 (21-DMA), a break below targets 1.2295 (10-DMA). Against the euro, the pound was trading flat at 88.38 pence, having hit a high of 88.30 on Thursday, it’s highest since Sept. 25

AUD/USD: The Australian dollar rallied, extending the previous session rebound on hopes of a trade resolution between the United States and China. The Aussie trades 0.2 percent up at 0.6771, having hit a high of 0.6781 earlier, it’s highest since September 23. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6742, a break below targets 0.6687. On the upside, resistance is located at 0.6803 (September 25 High), a break above could take it near 0.6829 (September 5 High).

NZD/USD: The Zealand dollar consolidated within narrow ranges as investors remained on the sidelines as high-level U.S.-China trade negotiations were due to continue today. The Kiwi trades flat at 0.6318, having touched a low of 0.6277 on Thursday, its lowest level since October 3. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6287 (10-DMA), a break below could drag it below 0.6249.



Equities Recap

Asian shares
rallied as risk sentiment improved after U.S. President Donald Trump said he would meet with China’s top trade negotiator.

MSCI's broadest of Asia-Pacific shares outside Japan rose 1.2 percent.

Tokyo's Nikkei gained 1.2 percent to 21,798.87 points, Australia's S&P/ASX 200 index rallied 0.9 percent to 6,606.80 points and South Korea's KOSPI surged 1.01 percent to 2,048.57 points.

Hong Kong’s Hang Seng traded 2.3 percent higher at 26,304.52 points.





Commodities Recap

Crude Oil prices rose, extending previous session gains after producer club OPEC hinted at making deeper cuts in supply while optimism was revived over talks between the United States and China to end their trade war. International benchmark Brent crude was trading 0.4 percent up at $59.68 per barrel by 0529 GMT, having hit a high of $59.69 earlier, its highest since October 1. U.S. West Texas Intermediate was trading 0.4 percent higher at $54.09 a barrel, after rising as high as $54.15 earlier, its highest since October 2.

Gold prices edged lower as U.S. President Donald Trump’s remarks on progress in U.S.-China trade talks boosted risk appetite. Spot gold was trading flat at $1,493.40 per ounce by 0532 GMT, having touched a high of $1,516.96 on Thursday, its highest since October 3. U.S. gold futures dipped 0.2 percent to $1,498.50.



Treasuries Recap

The Australian government bond yields cheered market investors after trade negotiations began between the United States and China in Washington yesterday, keeping markets hopeful of a positive outcome by end of this week. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 12 basis points to 1.015 percent, the yield on the long-term 30-year bond surged nearly 13 basis points to 1.615 percent and the yield on short-term 2-year remained tad higher at 0.708 percent.









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#575

Post by B0N3 » Mon Oct 14, 2019 6:36 pm

Asia Roundup:
Antipodeans off-highs on soft Chinese trade data, greenback rebounds on U.S.-China trade optimism, Asian shares surge –
Monday, October 14th, 2019






Market Roundup

Gold declines on U.S.-China trade optimism

China's nine-month exports to U.S. down 10.7% in dollar terms



Economic Data Ahead

(0500 ET/0900 GMT) EZ industrial production w.d.a YoY Aug

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



Key Events Ahead

(0315 ET/0715 GMT) ECB De Guindos' speech



FX Beat

DXY:
The dollar index rebounded from multi-week lows after U.S. President Donald Trump outlined the first phase of a deal to end the protracted U.S.-China trade war and suspended a threatened tariff hike. The greenback against a basket of currencies traded 0.2 percent up at 98.50, having touched a low of 98.20 in the previous session, its lowest since September 20.

EUR/USD: The euro steadied after rising to a 3-week peak in the previous session, as the greenback rebounded after U.S. President Donald Trump on Friday stated that the United States and China had reached a 'Phase 1' trade deal. The European currency traded flat at 1.1029, having touched a high of 1.1062 the prior session, its highest since September 20. Investors’ attention will remain on Eurozone industrial production and ECB De Guindos' speech, as U.S. markets remain shut on account of Columbus Day. Immediate resistance is located at 1.1059 (78.6% retracement of 1.1109 and 1.0879), a break above targets 1.1084. On the downside, support is seen at 1.0986 (21-DMA), a break below could drag it below 1.0966 (10-DMA).

USD/JPY: The dollar declined after rallying to a 12-1/2 month peak in the previous session on news that Washington and Beijing announced progress toward a trade deal. On Friday, U.S. President Donald Trump outlined the first phase of a deal to end a trade war with China and suspended a threatened tariff hike. The major was trading 0.1 percent down at 108.28, having hit a high of 108.62 the prior session, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, as the U.S. and Japanese markets remained closed. Immediate resistance is located at 108.72 (June 17 High), a break above targets 108.99 (July 31 High). On the downside, support is seen at 107.68 (21-DMA), a break below could take it near at 107.31 (September 23 Low).

GBP/USD: Sterling slumped after rising to a 3-1/2 month peak in the prior session on news that the European Union agreed to hold another round of negotiations with London in a bid to break the deadlock and secure a deal before the October 31 deadline. On Sunday, officials from Downing Street and the EU said that more work would be needed to secure an agreement on Britain’s departure from the bloc. The major traded 0.5 percent down at 1.2575, having hit a high of 1.2706 on Friday, it’s highest since June 28. Investors’ attention will remain on the development surrounding Brexit and BoE Cunliffe's speech. Immediate resistance is located at 1.2710, a break above could take it near 1.2762. On the downside, support is seen at 1.2526, a break below targets 1.2459. Against the euro, the pound was trading 0.7 percent at 87.82 pence, having hit a high of 86.94 on Friday, it’s highest since May 15

AUD/USD: The Australian dollar eased from a near 1-month high recorded in the prior session after data showed China’s exports to the United States fell 10.7 percent from a year earlier in dollar terms in January-September, while U.S. imports dropped 26.4 percent during that period. The Aussie trades 0.2 percent down at 0.6775, having hit a high of 0.6810 on Friday, it’s highest since September 19. Immediate support is seen at 0.6747 (5-DMA), a break below targets 0.6687. On the upside, resistance is located at 0.6829 (September 5 High), a break above could take it near 0.6869 (September 18 High).

NZD/USD: The New Zealand dollar plunged as Chinese exports declined -0.7 percent in September versus +2.6 percent prior, while imports slumped -6.2 percent against -2.6 percent earlier. The Kiwi trades 0.5 percent down at 0.6306, having touched a high of 0.6354 on Friday, its highest level since September 18. Immediate resistance is located at 0.6355, a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6283 a break below could drag it below 0.6229.



Equities Recap

Asian shares
advanced amid signs of progress in the U.S.-China trade standoff.

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

Tokyo's Nikkei declined 0.2 percent to 21,616.80 points, Australia's S&P/ASX 200 index rose 0.5 percent to 6,825.80 points and South Korea's KOSPI slumped 1.8 percent to 2,030.67 points.

Hong Kong’s Hang Seng traded 0.9 percent higher at 26,540.01 points. Taiwan shares added 1.6 percent to 10,066.95 points.

Shanghai Composite Index rose 1.2 percent to 3,007.88 points, while CSI 300 index traded 1.1 percent up at 3,953.24 points.



Commodities Recap

Crude Oil prices declined after rising to a near 2-week peak in the previous session following scant details on the first phase of a trade deal between the United States and China. International benchmark Brent crude was trading 0.7 percent down at $60.17 per barrel by 0523 GMT, having hit a high of $60.66 on Friday, its highest since September 30. U.S. West Texas Intermediate was trading 0.8 percent lower at $54.36 a barrel, after rising as high as $54.91 on Friday, its highest since September 30.

Gold prices tumbled, extending losses for the third straight session as optimism surrounding U.S.-China trade talks increased risk appetite. Spot gold declined 0.1 percent to $1,485.96 per ounce by 0528 GMT, having touched a low of $1,473.88 on Friday, its lowest since October 1. U.S. gold futures inched up 0.1 percent to $1,490.20 per ounce.



Treasuries Recap

The Australian government bonds plunged during Asian trading session as investors await the Reserve Bank of Australia’s (RBA) September monetary policy meeting minutes, scheduled to be released on October 15 by 00:30GMT and the country’s employment report, due for release on the following day for further direction in the debt market. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 3-1/2 basis points to 1.050 percent, the yield on the long-term 30-year bond surged nearly 2-1/2 basis points to 1.636 percent and the yield on short-term 2-year remained 2 basis points higher at 0.724 percent.










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#576

Post by B0N3 » Tue Oct 15, 2019 6:23 pm

Asia Roundup:
Antipodeans ease on downbeat Chinese factory prices, dollar declines against yen as U.S.-China trade deal, Brexit hopes ebb, Asian shares nudge higher – Tuesday, October 15th, 2019





Market Roundup

China's factory prices post steepest fall in three years

Gold steady ahead of crucial Brexit talks



Economic Data Ahead

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

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

(0430 ET/0830 GMT) United Kingdom Employment Change

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

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

(0500 ET/0900 GMT) Germany ZEW Economic Sentiment

(0500 ET/0900 GMT) Germany ZEW Current Conditions

(0500 ET/0900 GMT) Euro Zone ZEW Survey Expectations



Key Events Ahead

(0430 ET/0830 GMT) Bank of England Financial Stability Report



FX Beat

DXY: The dollar index traded flat after U.S. Treasury Secretary Steven Mnuchin said on Monday that an additional round of tariffs on Chinese imports will likely be imposed if a trade deal with China has not been reached by December. The greenback against a basket of currencies traded flat at 98.39, having touched a low of 98.20 on Friday, its lowest since September 20.

EUR/USD: The euro consolidated within narrow ranges, amid increasing caution surrounding both Brexit and U.S.-China trade talks. The European currency traded flat at 1.1029, having touched a high of 1.1062 on Friday, its highest since September 20. Investors’ attention will remain on a series of data out of Eurozone economies and EZ ZEW Survey- Economic Sentiment, amid a lack of significant economic data from the U.S. docket. Immediate resistance is located at 1.1059 (78.6% retracement of 1.1109 and 1.0879), a break above targets 1.1084. On the downside, support is seen at 1.0998 (5-DMA), a break below could drag it below 1.0979 (10-DMA).

USD/JPY: The dollar declined, halting a 4-day rally as optimism over trade negotiations between U.S.-China and for an orderly British exit from the European Union started to fade. The major was trading 0.1 percent down at 108.32, having hit a high of 108.62 on Friday, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, as the U.S. economic calendar remains absolutely data empty. Immediate resistance is located at 108.72 (June 17 High), a break above targets 108.99 (July 31 High). On the downside, support is seen at 107.86 (5-DMA), a break below could take it near at 107.31 (September 23 Low)

GBP/USD: Sterling edged up, reversing some of its previous session losses after Prime Minister Boris Johnson said he wants to strike an exit deal at an EU summit on Thursday and Friday to allow an orderly departure on October 31. The major traded 0.1 percent up at 1.2619, having hit a high of 1.2706 on Friday, it’s highest since June 28. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2710, a break above could take it near 1.2762. On the downside, support is seen at 1.2515, a break below targets 1.2459. Against the euro, the pound was trading 0.1 percent up at 87.41 pence, having hit a high of 86.94 on Friday, it’s highest since May 15

AUD/USD: The Australian dollar eased after data showed China’s factory-gate prices declined at their fastest pace in more than three years in September, reinforcing the case for Beijing to unveil further stimulus. The Aussie trades down at 0.6764, having hit a high of 0.6810 on Friday, it’s highest since September 19. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6743 (10-DMA), a break below targets 0.6687. On the upside, resistance is located at 0.6829 (September 5 High), a break above could take it near 0.6869 (September 18 High).

NZD/USD: The New Zealand dollar declined, extending previous session losses, after data showed China's producer price index dropped 1.2 percent year-on-year in September, recording the steepest decline since July 2016. The Kiwi trades 0.1 percent down at 0.6293, having touched a low of 0.6277 on Thursday, its lowest level since October 3. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6277, a break below could drag it below 0.6249.



Equities Recap

Asian shares
edged higher as the United States agreed to delay an Oct. 15 increase in tariffs on Chinese goods while Beijing said it would buy as much as $50 billion of U.S. agricultural products.

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

Tokyo's Nikkei gained 1.9 percent to 22,207.21 points, Australia's S&P/ASX 200 index rallied 0.1 percent to 6,652.00 points and South Korea's KOSPI declined 0.05 percent to 2,067.13 points.

Hong Kong’s Hang Seng traded 0.1 percent lower at 26,493.83 points. Taiwan shares added 0.4 percent to 11,111.80 points.

Shanghai Composite Index eased 0.5 percent to 2,994.08 points, while CSI 300 index traded 0.4 percent down at 3,937.53 points.



Commodities Recap

Crude Oil prices declined, extending previous session losses as weak Chinese economic data for September added to lingering concerns about the feasibility of the U.S.-China trade deal announced by President Trump late last week. International benchmark Brent crude was trading 0.5 percent down at $58.86 per barrel by 0507 GMT, having hit a high of $60.66 on Friday, its highest since September 30. U.S. West Texas Intermediate was trading 0.5 percent lower at $53.22 a barrel, after rising as high as $54.91 on Friday, its highest since September 30.

Gold prices steadied below the $1,500 per ounce level as markets braced for talks between Britain and the European Union that will determine how smooth Britain’s departure will be from the trading bloc. Spot gold was trading flat at $1,493.48 per ounce by 0509 GMT, having touched a low of $1,473.88 on Friday, its lowest since October 1. U.S. gold futures were a shade lower at $1,496.90.



Treasuries Recap

The Australian government bonds jumped during Asian trading session after the Reserve Bank of Australia’s (RBA) September monetary policy meeting minutes hinted at further easing, noting “prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time”. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged 3-1/2 basis points to 1.013 percent, the yield on the long-term 30-year bond also slumped 3-1/2 basis points to 1.600 percent and the yield on short-term 2-year traded nearly 2 basis points lower at 0.703 percent.








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#577

Post by B0N3 » Wed Oct 16, 2019 6:12 pm

Asia Roundup:
Kiwi eases on RBNZ rate cut expectations, dollar off highs against yen on Hong Kong worries, investors eye EZ CPI figures –
Wednesday, October 16th, 2019






Market Roundup

Gold edges higher on Brexit uncertainty

Oil prices edge higher as OPEC hints at deeper output cuts

New Zealand Consumer Price Index rose 0.7% in the September quarter and 1.5% year-on-year



Economic Data Ahead

(0400 ET/0800 GMT) Italy Industrial Sales August

(0400 ET/0800 GMT) Italy Industrial Sales August

(0430 ET/0830 GMT) UK retail price index September

(0430 ET/0830 GMT) UK producer price index September

(0430 ET/0830 GMT) UK consumer price index September

(0500 ET/0900 GMT) Italy consumer price index September

(0500 ET/0900 GMT) EZ trade balance

(0500 ET/0900 GMT) EZ consumer price index September



Key Events Ahead

No significant events scheduled



FX Beat

DXY: The dollar index slumped to a near 1-month low after the U.S. House of Representatives on Tuesday passed four pieces of legislation taking a hard line on China, three related to pro-democracy protests in Hong Kong and one commending Canada’s government in a dispute over the extradition of an executive from Huawei Technologies. The greenback against a basket of currencies traded 0.1 percent down at 98.17, having touched a low of 98.16 earlier, its lowest since September 20.

EUR/USD:The euro consolidated within narrow ranges, as a key gauge of long-term inflation expectations reached 3-week highs at 1.21 percent amid hopes that a deal would ease economic uncertainty. The European currency traded flat at 1.1031, having touched a high of 1.1062 on Friday, its highest since September 20. Investors’ attention will remain on a series of data out of Eurozone economies, EZ consumer price index and trade balance, ahead of the U.S. retail sales, business inventories, housing market index and Fed officials' speeches. Immediate resistance is located at 1.1059 (78.6% retracement of 1.1109 and 1.0879), a break above targets 1.1084. On the downside, support is seen at 1.1013 (5-DMA), a break below could drag it below 1.0989 (10-DMA).

USD/JPY: The dollar eased after rising to a 2-1/2 month peak in the prior session, as risk sentiment weakened after Beijing rebuked a new U.S. legislation that takes a hard line against the crackdown on pro-democracy protests in Hong Kong. The major was trading 0.2 percent down at 108.66 having hit a high of 108.89 on Tuesday, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, business inventories, housing market index and Fed officials' speeches. Immediate resistance is located at 108..99 (July 31 High), a break above targets 109.31 (August 1 High). On the downside, support is seen at 108.22 (5-DMA), a break below could take it near at 107.64 (10-DMA)

GBP/USD: Sterling edged lower after rallying to a near 5-month peak above the 1.2800 handle in the previous session on a report that officials were close to a deal for Britain to exit the European Union. However, investors are still unclear if Britain can avoid postponing its departure beyond October 31. The major traded 0.3 percent down at 1.2745, having hit a high of 1.2801 on Tuesday, it’s highest since May 21. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2826, a break above could take it near 1.2865. On the downside, support is seen at 1.2653, a break below targets 1.2605. Against the euro, the pound was trading 0.3 percent down at 87.41 pence, having hit a high of 86.24 earlier, it’s highest since May 13.

AUD/USD: The Australian dollar plunged to a near 1-week low after data showed Australia’s Westpac Leading Index for September came in at -0.28 percent prior to -0.08 percent. The Aussie trades 0.2 percent down at 0.6736, having hit a high of 0.6810 on Friday, it’s highest since September 19. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6710, a break below targets 0.6671. On the upside, resistance is located at 0.6780 (September 26 High), a break above could take it near 0.6829 (September 5 High).

NZD/USD: The New Zealand dollar declined, extending losses for the third straight session, amid speculation that stronger-than-expected third-quarter inflation won't deter the central bank from cutting interest rates again in November. The economy's consumer price index increased 0.7 percent in the September quarter, bringing the annual rate of inflation to 1.5 percent, slowing from a 1.7 per cent pace in June. The Kiwi trades 0.4 percent down at 0.6271, having touched a low of 0.6258 on Tuesday, its lowest level since October 3. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6249, a break below could drag it below 0.6215.


Equities Recap

Asian shares
surged as investors looked to whether Britain can secure a deal to avoid a disorderly exit from the European Union.

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

Tokyo's Nikkei gained 1.2 percent to 22,472.92 points, Australia's S&P/ASX 200 index rallied 1.3 percent to 6,736.50 points and South Korea's KOSPI surged 0.7 percent to 2,082.83 points.

Hong Kong’s Hang Seng traded 0.6 percent higher at 26,652.01 points. Taiwan shares added 0.5 percent to 11,162.83 points.

Shanghai Composite Index eased 0.3 percent to 2,981.18 points, while CSI 300 index traded 0.3 percent down at 3,925.66 points.



Commodities Recap

Crude Oil prices surged as investors pinned hopes on signals from OPEC and its allies that further supply curbs could be possible. International benchmark Brent crude was trading 0.1 percent up at $58.87 per barrel by 0504 GMT, having hit a high of $60.66 on Friday, its highest since September 30. U.S. West Texas Intermediate was trading 0.2 percent higher at $52.97 a barrel, after rising as high as $54.91 on Friday, its highest since September 30.

Gold prices surged after shedding nearly 1 percent in the previous session, as markets remained unclear if Britain could avoid postponing its departure from the EU beyond October 31. Spot gold was trading 0.2 percent up at $1,483.59 per ounce by 0506 GMT, having touched a low of $1,473.88 on Friday, its lowest since October 1. U.S. gold futures were 0.3 percent higher at $1,488.10 per ounce.


Treasuries Recap

The Japanese government bond prices mostly edged lower, with the benchmark 10-year JGB futures easing 0.07 points to 154.40, while the yield on the 10-year cash JGBs rose 1 basis point to minus 0.165 percent. The two-year JGB cash yield rose 1 basis point to minus 0.275 percent, its highest in nearly a month, while the five-year yield also gained 1 basis point to minus 0.290 percent. The 40-year JGB yield fell 0.5 basis point to 0.425 percent. The 30-year yield was flat at 0.385 percent, while the 20-year yield rose half a basis point to 0.215 percent.

The Australian government bonds suffered during Asian trading session tracking a similar movement in the United States’ Treasuries after hopes arose of a successful Brexit deal soon amid a calmer trade talk situation between the U.S. and China. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 3-1/2 basis points to 1.048 percent, the yield on the long-term 30-year bond surged nearly 4 basis points to 1.636 percent and the yield on short-term 2-year traded nearly 2 basis points higher at 0.722 percent.








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#578

Post by B0N3 » Thu Oct 17, 2019 7:16 pm

Asia Roundup:
Aussie gains on upbeat jobs data, greenback rebounds on U.S. Treasury Secretary Steven Mnuchin's comments, Asian shares surge –
Thursday, October 17th, 2019






Market Roundup

Australia unemployment rate eases

RBNZ dovish as inflation slows

Oil fall on signs of large U.S. stock build



Economic Data Ahead

(0400 ET/0800 GMT) Italy Global Trade Balance August

(0400 ET/0800 GMT) Italy Trade Balance EU August

(0430 ET/0830 GMT) UK retail sales YY September

(0430 ET/0830 GMT) UK retail sales MM September

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

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




Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index steadied after tumbling to a near 5-week low in the previous session after U.S. Treasury Secretary Steven Mnuchin said that trade negotiators are working on nailing down a phase 1 trade deal text for their presidents to sign next month. The greenback against a basket of currencies traded 0.05 percent up at 98.17, having touched a low of 97.90 on Wednesday, its lowest since September 13.

EUR/USD: The euro rose, hovering towards a 1-month peak hit in the previous session, after French central bank Governor Francois Villeroy de Galhau stated that the European Central Bank will implement its September stimulus package in full despite a rare public disagreement, but needs to clarify the symmetric nature of its inflation target at its upcoming policy review. The European currency traded flat at 1.1075, having touched a high of 1.1085 on Wednesday, its highest since September 16. Investors’ attention will remain on a series of data out of Eurozone economies and EZ construction output, ahead of the U.S. building permits, housing starts, unemployment benefit claims, industrial production, capacity utilization and Fed officials' speeches. Immediate resistance is located at 1.1098, a break above targets 1.1116. On the downside, support is seen at 1.1034 (5-DMA), a break below could drag it below 1.1000.

USD/JPY: The dollar declined, extending previous session losses after data released yesterday showed U.S. retail sales fell for the first time in seven months in September, indicating that manufacturing-led weakness could be spreading to the broader economy. The major was trading down at 108.74 having hit a high of 108.89 on Tuesday, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. building permits, housing starts, unemployment benefit claims, industrial production, capacity utilization and Fed officials' speeches. Immediate resistance is located at 108..99 (July 31 High), a break above targets 109.31 (August 1 High). On the downside, support is seen at 108.48 (5-DMA), a break below could take it near at 108.02.

GBP/USD: Sterling eased after rising to a 5-month peak in the prior session amid contradictory headlines about whether Britain and the European Union were on the verge of agreeing a Brexit deal. The major traded 0.1 percent down at 1.2816, having hit a high of 1.2877 on Wednesday, it’s highest since May 21. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2900, a break above could take it near 1.2943. On the downside, support is seen at 1.2747, a break below targets 1.2708. Against the euro, the pound was trading 0.2 percent down at 86.41 pence, having hit a high of 85.97 earlier, it’s highest since May 9

AUD/USD: The Australian dollar rallied after domestic employment data showed 14,700 net new jobs were added in September, matching forecasts, with full-time positions rising to 26,200, while jobless rate eased to 5.2 percent, from a 1-year peak of 5.3 percent. The Aussie trades 0.4 percent up at 0.6787, having hit a high of 0.6810 on Friday, it’s highest since September 19. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6710, a break below targets 0.6671. On the upside, resistance is located at 0.6805, a break above could take it near 0.6829 (September 5 High).

NZD/USD: The New Zealand dollar consolidated within narrow ranges, after dovish comments from a top central banker outweighed a slight upside surprise on domestic inflation. RBNZ deputy governor Geoff Bascand stated that further rate cuts might be needed to bolster growth, despite consumer price inflation rising 0.7 percent in the third quarter. The Kiwi trades flat at 0.6291, having touched a low of 0.6240 on Wednesday, its lowest level since October 2. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6258, a break below could drag it below 0.6215.


Equities Recap

Asian shares
gained as the soft U.S. sales data pointed to signs that the U.S. economy was beginning to show signs of weakness.

Tokyo's Nikkei gained 0.1 percent to 22,491.00 points, Australia's S&P/ASX 200 index declined 0.8 percent to 6,684.70 points and South Korea's KOSPI fell 0.4 percent to 2,074.52 points.

Hong Kong’s Hang Seng traded 0.6 percent higher at 26,833.59 points. Taiwan shares added 0.2 percent to 11,186.88 points.

Shanghai Composite Index prices steadied as weak United States retail sales data fanned concerns that the country’s economy may be feeling the effects of the long-drawn trade war with China. Spot gold traded flat at $1,488.26 per ounce at 0428 GMT, having touched a low of $1,473.88 on Friday, its lowest since October 1. U.S. gold futures rose 0.1 percent to $1,495.60.


Commodities Recap

Crude Oil prices eased after industry data showed a larger-than-expected build-up in stocks in the United States, although comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal limited losses. International benchmark Brent crude was trading 0.1 percent down at $59.00 per barrel by 0423 GMT, having hit a high of $60.66 on Friday, its highest since September 30. U.S. West Texas Intermediate was trading 0.05 percent higher at $52.94 a barrel, after rising as high as $54.91 on Friday, its highest since September 30.

Gold prices eased after rising by more than 1-percent in the previous session on weaker-than-expected U.S. jobs data that reinforced global economic slowdown fears and raised expectations of further monetary policy easing by the U.S. Federal Reserve. Spot gold was trading 0.1 percent down at $1,498.42 per ounce at 0455 GMT, having touched a low of $1,458.97 on Tuesday, its lowest since August 6. U.S. gold futures were down 0.1 percent at $1,506.4 an ounce.



Treasuries Recap

The Australian government bonds slumped during Asian trading session after trade tensions between the United States and China spurred disturbance amongst the market investors amid disappointment from the country’s domestic labour market report for the month of September, released early today. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 2-1/2 basis points to 1.077 percent, the yield on the long-term 30-year bond also surged nearly 2-1/2 basis points to 1.664 percent and the yield on short-term 2-year traded 2 basis points higher at 0.750 percent.









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#579

Post by B0N3 » Mon Oct 21, 2019 7:54 pm

Asia Roundup:
Antipodeans at 1-month peak as PBoC stands pat, dollar gains against yen on U.S.-China trade deal hopes, Asian shares rally –
Monday, October 21st, 2019






Market Roundup

PBoC kept interest rates unchanged at 4.20%

New Zealand Credit Card Spending growth slowed to 4.8% in September from 6% in August

Gold holds steady on Brexit uncertainties



Economic Data Ahead

No major economic data releases




Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index surged as investors now await a U.S. Federal Reserve meeting at the end of the month that could offer further signs of monetary easing. The greenback against a basket of currencies traded 0.2 percent up at 97.34 having touched a low of 97.14 on Friday, its lowest since August 9.

EUR/USD: The euro declined after rising to a 2-month peak in the previous session, as the greenback rebounded from multi-week lows against a basket of currencies. The European currency traded 0.1 percent lower at 1.1148, having touched a high of 1.1171 on Friday, its highest since August 14. Immediate resistance is located at 1.1200, a break above targets 1.1230. On the downside, support is seen at 1.1130, a break below could drag it below 1.1101.

USD/JPY: The dollar rebounded from a near 1-week low hit earlier in the week after U.S. President Donald Trump said that he thought a trade deal between the United States and China would be signed by the time the Asia-Pacific Economic Cooperation meetings take place in Chile on November 16-17. The major was trading 0.1 percent up at 108.45 having hit a low of 108.29 earlier, its lowest since October 15. Immediate resistance is located at 108.99 (July 31 High), a break above targets 109.31 (August 1 High). On the downside, support is seen at 108.12 (10-DMA), a break below could take it near at 108.03 (October 14).

GBP/USD: Sterling slumped, retreating from a 5-month high recorded last week after the British parliament delayed a crucial vote on a Brexit withdrawal agreement. On Saturday, lawmakers voted to withhold a decision on Prime Minister Boris Johnson’s deal, a move that forced him to seek from the EU a third postponement of Britain’s departure from the bloc. The major traded 0.6 percent down at 1.2873, having hit a high of 1.2989 on Thursday, it’s highest since May 13. Immediate resistance is located at 1.3000, a break above could take it near 1.3040. On the downside, support is seen at 1.2815 (5-DMA), a break below targets 1.2748. Against the euro, the pound was trading 0.7 percent down at 86.53 pence, having hit a high of 85.74 on Thursday, it’s highest since May 8.

AUD/USD: The Australian dollar rallied to an over 1-month peak after China unexpectedly kept unchanged its new benchmark lending rate, suggesting Beijing is keen to avoid overly loosening monetary policy for fear it may push up already-high debt levels across the economy. The Aussie trades 0.1 percent up at 0.6861, having hit a high of 0.6865 earlier, it’s highest since September 18. Immediate support is seen at 0.6830, a break below targets 0.6811. On the upside, resistance is located at 0.6875, a break above could take it near 0.6894.

NZD/USD: The New Zealand dollar surged to multi-week highs despite the dismal New Zealand consumer spending data and expectations the RBNZ will deliver a rate cut before the year-end. The economy's annualized Credit Card Spending growth slowed to 4.8 percent in September from 6 percent in August, supporting the dovish Reserve Bank of New Zealand expectations. The Kiwi trades 0.2 percent up at 0.6393, having touched a high of 0.6404 earlier, its highest level since September 13. Immediate resistance is located at 0.6422 (August 21 High), a break above could take it near 0.6450 (September 12 High). On the downside, support is seen at 0.6355, a break below could drag it below 0.6322 (5-DMA).


Equities Recap

Asian shares
advanced amid hopes for progress in resolving the U.S.-China trade war and expectations for greater investment inflows into Hong Kong.

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

Tokyo's Nikkei gained 0.3 percent to 22,548.90 points, Australia's S&P/ASX 200 index rose 0.05 percent to 6,652.50 points and South Korea's KOSPI rallied 0.2 percent to 2,064.29 points.

Hong Kong’s Hang Seng traded 0.1 percent higher at 26,741.01 points. Taiwan shares added 0.05 percent to 11,184.15 points.

Shanghai Composite Index declined 0.2 percent to 2,932.03 points, while CSI 300 index traded 0.1 percent up at 3,872.36 points.


Commodities Recap

Crude Oil prices consolidated within narrow ranges amid persistent concerns about the global economic outlook and the impact on oil demand. International benchmark Brent crude was trading flat at $59.53 per barrel by 0457 GMT, having hit a high of $60.66 earlier in the month, its highest since September 30. U.S. West Texas Intermediate was trading flat at $53.84 a barrel, after rising as high as $54.60 earlier in the month, its highest since September 30.

Gold prices held firm as uncertainties swirled over Brexit delay, though a firmer greenback weighed on the safe-haven metal. Spot gold traded flat at $1,489.52 an ounce by 0502 GMT, having touched a low of $1,473.88 earlier in the month, its lowest since October 1. U.S. gold futures were little changed at $1,494.20.



Treasuries Recap

The Japanese government bond prices eased, with the benchmark 10-year yield hitting two-and-a-half-month highs. The 10-year JGB yield rose 1.5 basis points to minus 0.140 percent, its highest since Aug. 1, and has risen nine basis points from Oct. 7 low of minus 0.230 percent. The 20-year JGB yield rose 2 basis points to 0.250 percent while the 30-year yield rose 1 basis point to 0.410 percent, both nearing their highs for the month. The five-year yield fell 0.5 basis point, however, to minus 0.275 percent, after having risen to a five-week high of minus 0.265 percent earlier. Benchmark 10-year JGB futures fell 0.16 point to 154.07.

The Australian government bonds remained tad higher during Asian session of the first trading day of the week as investors remained side-lined amid muted hours that witnessed data of little economic significance. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slipped 1 basis point to 1.141 percent, the yield on the long-term 30-year bond edged 1 basis point down at 1.728 percent and the yield on short-term 2-year too traded 1 basis point lower at 0.794 percent.








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Post by B0N3 » Mon Oct 21, 2019 8:05 pm

Europe Roundup
Antipodeans at 1-month peak as PBoC stands pat, dollar gains against yen on U.S.-China trade deal hopes, Asian shares rally –
Monday, October 21st, 2019






Market Roundup

Northern Irish DUP lawmaker: we shall not support EU customs union proposal

Oil prices fall as global demand concerns increase

Gold steadies as markets seek clarity on Brexit



Economic Data Ahead

N/A U.S. reports its monthly budget statement for the month of September. The government posted a deficit of $200 billion in the previous month




Key Events Ahead

(1140 ET/1540 GMT) Federal Reserve's Board Governor Michelle Bowman's speech



FX Beat

DXY: The dollar index steadied near a 2-1/2 month low as investors awaited further developments in the U.S.-China trade talks and the U.S. Federal Reserve meeting at the end of the month for further cues on monetary policy easing. The greenback against a basket of currencies traded 0.1 percent up at 97.24 having touched a low of 97.14 on Friday, its lowest since August 9.

EUR/USD: The euro rallied to an over 2-month peak after data released earlier showed the European Union’s statistics agency revised up Germany’s budget surplus for 2018. The European currency traded 0.1 percent higher at 1.1170, having touched a high of 1.1179 earlier, its highest since August 14. Immediate resistance is located at 1.1200, a break above targets 1.1230. On the downside, support is seen at 1.1130, a break below could drag it below 1.1101.

USD/JPY: The dollar bounced back from a near 1-week low, supported by Chinese vice-premier Liu He’s comments on Friday that Beijing will collaborate with the United States to address mutual concerns on the trade war. The major was trading 0.2 percent up at 108.58 having hit a low of 108.29 earlier, its lowest since October 15. Immediate resistance is located at 108.99 (July 31 High), a break above targets 109.31 (August 1 High). On the downside, support is seen at 108.12 (10-DMA), a break below could take it near at 108.03 (October 14).

GBP/USD: Sterling surged to an over 5-month peak above the 1.3000 handle, amid receding risk of a British no-deal exit from the European Union and in the belief that the UK parliament could yet approve a Brexit agreement. The major traded 0.1 percent up at 1.2986, having hit a high of 1.3011 earlier, it’s highest since May 13. Immediate resistance is located at 1.3019, a break above could take it near 1.3040. On the downside, support is seen at 1.2815 (5-DMA), a break below targets 1.2748. Against the euro, the pound was trading 0.05 percent up at 85.96 pence, having hit a high of 85.74 on Thursday, it’s highest since May 8.

USD/CHF: The Swiss franc retreated from a 1-1/2 month peak as risk sentiment improved on hopes that Britain would be able to avoid a disorderly exit from the European Union. The major trades 0.2 percent up at 0.9856, having touched a low of 0.9839 on Friday, it’s lowest since September 5. On the higher side, near-term resistance is around 0.9914 and any break above will take the pair to the next level till 0.9946. The near-term support is around 0.9828, and any close below that level will drag it till 0.9799.



Equities Recap

European Shares
gained amid hopes for progress towards resolving the U.S.-China trade war and a belief that Britain will avoid a disorderly exit from the European Union.

The pan-European STOXX 600 Index advanced 0.4 percent at 393.41 points, while the FTSEurofirst 300 rallied 0.4 percent to 1,540.52 points.

Britain's FTSE 100 trades 0.2 percent up at 7,164.69 points, while mid-cap FTSE 250 surged 0.2 to 20,260.71 points.

Germany's DAX rose 0.7 percent at 12,726.22 points; France's CAC 40 trades 0.2 percent higher at 5,644.91 points.



Commodities Recap

Crude Oil prices declined, extending previous session losses amid concerns about slackening global demand. International benchmark Brent crude was trading 0.9 percent at $58.74 per barrel by 1018 GMT, having hit a high of $60.66 earlier in the month, its highest since September 30. U.S. West Texas Intermediate was trading 0.7 percent down at $53.17 a barrel, after rising as high as $54.60 earlier in the month, its highest since September 30.

Gold prices consolidated within narrow ranges as traders awaited more clarity on Brexit and U.S.-China trade ties. Spot gold was trading 0.1 percent up at $1,491.14 per ounce by 1021 GMT, having touched a low of $1,473.88 earlier in the month, its lowest since October 1. U.S. gold futures were little changed at 1,494.20.



Treasuries Recap

The U.S. Treasuries suffered during the afternoon session ahead of the Federal Open Market Committee (FOMC) member Bowman’s speech, scheduled to be delivered today by 15:40GMT amid a quiet start with no top-tier data due today and existing home sales figures for September the most notable release tomorrow. The yield on the benchmark 10-year Treasury yield jumped 2-1/2 basis points to 1.775 percent, the super-long 30-year bond yield surged nearly 3-1/2 basis points to 2.280 percent and the yield on the short-term 2-year traded 1-1/2 basis points higher at 1.590 percent.

The United Kingdom’s gilts plummeted during European trading hours as hassles over a Brexit deal since long has trouble investor sentiments to the core, so much so that European Union diplomats do not want to further extend the departure deadline beyond October 31. The yield on the benchmark 10-year gilts, jumped 4-1/2 basis points to 0.722 percent, the 30-year yield sky-rocketed 7 basis points to 1.261 percent and the yield on the short-term 2-year gained surged 3 basis points to 0.573 percent.

The German bunds slumped during European session ahead of the country’s manufacturing PMI for the month of October, scheduled to be released on October 24 by 08:30GMT and the European Central Bank’s (ECB) monetary policy meeting, also due to be held on the same day by 11:45GMT. The German 10-year bond yield, which move inversely to its price, jumped 3-1/2 basis points to -0.350 percent, the yield on 30-year note surged 4 basis points to 0.157 percent while the yield on short-term 2-year traded flat at -0.664 percent.

The Australian government bonds remained tad higher during Asian session of the first trading day of the week as investors remained side-lined amid muted hours that witnessed data of little economic significance. However, the disappointment from China’s gross domestic product (GDP) for the third quarter of this year, further weighed on bond yields. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slipped 1 basis point to 1.141 percent, the yield on the long-term 30-year bond edged 1 basis point down at 1.728 percent and the yield on short-term 2-year too traded 1 basis point lower at 0.794 percent.








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