FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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Re: FirewoodFX - Market News

#581

Post by B0N3 » Wed Oct 23, 2019 7:23 pm

Asia Roundup:
Kiwi eases on mix trade balance figures, yen rallies as risk sentiment weakens on revived Brexit fears, Asian shares plunge –
Wednesday, October 23rd, 2019






Market Roundup

RBA's Kent says 'a lot more to be done' as end of Libor nears

New Zealand Posts Trade Deficit At NZ$1.242 Billion In September

Gold steadies as investors seek clarity on Brexit

Oil slips after U.S. inventory build



Economic Data Ahead

No major economic data releases



Key Events Ahead

No significant events scheduled



FX Beat

DXY:
The dollar index surged as the recent U.S. economic data continued to support further wagers by the market that the Fed will cut its interest rate again at the end of October, making for a third consecutive rate cut. The greenback against a basket of currencies traded 0.05 percent up at 97.57, having touched a low of 97.14 on Friday, its lowest since August 9.

EUR/USD: The euro tumbled, extending losses for the third straight session, after the European Commission sent a letter to Italian authorities, asking for clarification over their 2020 draft budgets. Italy’s draft 2020 budget assumes a rise in its structural deficit of 0.1 percent of GDP. The European currency traded down at 1.1122, having touched a high of 1.1179 on Monday, its highest since August 14. Investors’ attention will remain on data out of Eurozone economies and EZ prelim consumer confidence, ahead of the U.S. housing price index. Immediate resistance is located at 1.1150, a break above targets 1.1190. On the downside, support is seen at 1.1101, a break below could drag it below 1.1070 (10-DMA).

USD/JPY: The dollar plunged to a 1-week low as the U.S. Treasury yields declined and risk sentiment weakened after UK lawmakers voted against Prime Minister Boris Johnson’s extremely tight timetable to approve his deal for Britain to exit the European Union. The major was trading 0.1 percent down at 108.34, having hit a low of 108.24 earlier, its lowest since October 15. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. housing price index. 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 108.03 (October 14), a break below could take it near at 107.65.

GBP/USD: Sterling eased, extending losses below the 1.2900 handle, after British lawmakers on Tuesday rejected the government’s proposed timetable for passing legislation to ratify its deal to exit the European Union. The major traded 0.1 percent low at 1.2986, having hit a low of 1.2860 earlier, it’s lowest since October 18. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2960, a break above could take it near 1.3102. On the downside, support is seen at 1.2800, a break below targets 1.2748. Against the euro, the pound was trading 0.05 percent down at 86.24 pence, having hit a high of 85.74 on Thursday, it’s highest since May 8.

AUD/USD: The Australian dollar slumped to a 5-day low after Reserve Bank of Australia assistant governor Christopher Kent warned the ill-preparedness of the local market for a post-Libor world could wreak havoc on Australia's financial system. The Aussie trades 0.2 percent down at 0.6843, having hit a high of 0.6882 on Tuesday, it’s highest since September 16. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6830, a break below targets 0.6811. On the upside, resistance is located at 0.6894, a break above could take it near 0.6918.

NZD/USD: The New Zealand dollar declined below the 0.6400 handle, after data showed NZ's merchandise trade deficit came in at $-5.21 billion in September, following the $-5.55 billion deficit in August (YoY), while MoM data registered $-1,242M deficit versus $-1,112M forecast. The Kiwi trades 0.1 percent down at 0.6398, having touched a high of 0.6435 on Tuesday, its highest level since September 12. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6450 (September 12High), a break above could take it near 0.6471 (August 13 High). On the downside, support is seen at 0.6366 (5-DMA), a break below could drag it below 0.632).



Equities Recap

Asian shares
slumped, weighed down by losses in the tech sector and after the British parliament rejected Prime Minister Boris Johnson’s timetable to fast-track legislation to take Britain out of the European Union.

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

Tokyo's Nikkei gained 0.2 percent to 22,582.71 points, Australia's S&P/ASX 200 index rose 0.05 percent to 6,673.10 points and South Korea's KOSPI plunged 0.4 percent to 2,080.24 points.

Hong Kong’s Hang Seng traded 0.8 percent lower at 26,566.34 points. Taiwan shares shed 0.4 percent to 11,222.35 points.

Shanghai Composite Index declined 0.1 percent to 2,951.14 points, while CSI 300 index traded 0.3 percent down at 3,885.47 points.



Commodities Recap

Crude Oil priced declined after U.S. industry data showed a bigger-than-expected build in crude stockpiles, although possible deeper production cuts coming from OPEC and its allies limited downside. International benchmark Brent crude was trading 0.3 percent down at $59.40 per barrel by 0429 GMT, having hit a high of $60.26 last week, its highest since October 14. U.S. West Texas Intermediate was trading 0.3 percent lower at $54.04 a barrel, after rising as high as $54.60 last week, its highest since October 14.

Gold prices steadied as investors awaited more clarity on the Brexit issue and the U.S.-China trade war. Spot gold was trading 0.1 percent up at $1,489.43 per ounce by 0441 GMT, having touched a low of $1,480.73 on Tuesday, its lowest since October 16. U.S. gold futures rose 0.3 percent to $1,492.20 per ounce.



Treasuries Recap

The Japanese government bond prices were largely unchanged. The benchmark 10-year JGB futures rose 0.07 point to 154.14. The key 10-year cash JGB yield was flat at minus 0.140 percent. In the super-long zone, the 20-year yield rose 1 basis point to 0.260 percent and the 30-year yield added half a basis point to 0.420 percent. At the shorter end of the curve, the two-year yield fell 0.5 basis point to minus 0.250 percent and the five-year yield was flat at minus 0.270 percent.

The Australian government bonds traded tad higher during Asian session Wednesday tracking a similar movement in the U.S. Treasuries following news on Brexit until the final exit on October 31 and China trade uncertainties. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 2-1/2 basis points to 1.176 percent, the yield on the long-term 30-year bond surged 2 basis points to 1.763 percent while the yield on short-term 2-year traded flat at 0.802 percent.










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#582

Post by B0N3 » Fri Oct 25, 2019 8:28 pm

Asia Roundup:
Aussie rebounds from 1-week low on RBA Lowe's comments; euro consolidates ahead of German Ifo survey, investors eye EU meeting –
Friday, October 25th, 2019






Market Roundup

Oil retreats on renewed demand concerns

Gold hits two-week high on weak U.S. data

RBA unlikely to cut interest rates again in November



Economic Data Ahead

(0400 ET/0800 GMT) German IFO Business climate October

(0400 ET/0800 GMT) German IFO Current Assessment October

(0400 ET/0800 GMT) German IFO Expectations October



Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index steadied near a 1-week peak as investors remain focused on next week’s U.S. Federal Reserve policy meeting at which it’s almost certain to cut interest rates for a third time this year. The greenback against a basket of currencies traded flat at 97.67, having touched a low of 97.14 last week, its lowest since August 9.

EUR/USD:The euro consolidated near a 1-week low recorded in the previous session, weighed down by business surveys which point to stagnating economic momentum in the eurozone. The European currency traded flat at 1.1103, having touched a high of 1.1093 on Thursday, its highest since August 14. Investors’ attention will remain on a series of data out of Eurozone economies and German Ifo survey, ahead of the U.S. Michigan consumer sentiment index. Immediate resistance is located at 1.1139 (5-DMA), a break above targets 1.1190. On the downside, support is seen at 1.1075, a break below could drag it below 1.1046.

USD/JPY: The dollar surged as investors awaited the U.S. Federal Reserve meeting ending October 30 and a Bank of Japan meeting ending October 31. The Fed is expected to cut interest rates for a third time this year, while the BOJ is leaning toward keeping policy on hold next week. The major was trading up at 108.56, having hit a low of 108.24 on Wednesday, its lowest since October 15. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. Michigan consumer sentiment index. 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 108.03 (October 14), a break below could take it near at 107.65.

GBP/USD: Sterling declined, hovering towards a 1-week trough hit in the previous session as Prime Minister Boris Johnson’s call for an election raised more uncertainty over Brexit impasse. Investors now await a meeting later in the day where European Union officials may decide how long they will extend Britain’s deadline to leave the EU beyond the current date of October 31. The major traded 0.05 percent lower at 1.2843, having hit a low of 1.2788 the day before, it’s lowest since October 17. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2913 (5-DMA), a break above could take it near 1.2977. On the downside, support is seen at 1.2800, a break below targets 1.2748. Against the euro, the pound was trading 0.1 percent down at 86.46 pence, having hit a high of 85.74 last week, it’s highest since May 8.

AUD/USD: The Australian dollar rebounded from a 1-week low hit earlier in the session, as the recent comments by Reserve Bank of Australia Governor, Philip Lowe, sharply downgraded the chances of a November rate cut. The Aussie trades 0.2 percent up at 0.6829, having hit a low of 0.6809 earlier, it’s lowest since October 17. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6801, a break below targets 0.6780. On the upside, resistance is located at 0.6850 (5-DMA), a break above could take it near 0.6880.

NZD/USD: The New Zealand dollar plunged to a 1-week trough amid mixed sentiment surrounding the U.S.-China trade deal. The Kiwi trades 0.05 percent down at 0.6380, having touched a low of 0.6366 earlier, its lowest level since October 18. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6400 (5-DMA), a break above could take it near 0.6471 (August 13 High). On the downside, support is seen at 0.6356 (10-DMA), a break below could drag it below 0.6326.


Equities Recap

Asian shares
nudged lower as investors were reluctant to take big positions ahead of key central bank policy meetings in the United States and Japan next week against the backdrop of slowing global growth.

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

Tokyo's Nikkei gained 0.1 percent to 22,765.35 points, Australia's S&P/ASX 200 index rose 0.7 percent to 6,739.20 points and South Korea's KOSPI eased 0.1 percent to 2,084.00 points.

Hong Kong’s Hang Seng traded 0.4 percent lower at 26,707.28 points. Taiwan shares shed 0.2 percent to 11,296.12 points.

Shanghai Composite Index rose 0.2 percent to 2,946.44 points, while CSI 300 index traded 0.3 percent up at 3,883.40 points.



Commodities Recap

Crude Oil prices declined after three straight days of gains, weighed down by renewed concerns about fuel demand in light of gloomy economic growth forecasts. International benchmark Brent crude was trading 0.3 percent down at $61.29 per barrel by 0518 GMT, having hit a high of $61.88 the day before, its highest since September 30. U.S. West Texas Intermediate was trading 0.3 percent lower at $55.84 a barrel, after rising as high as $56.47 on Thursday, its highest since September 27.

Gold prices declined after rising to a 2-week high in the previous session on weak U.S. economic data that spurred expectations for another interest rate cut by the Federal Reserve later this month. Spot gold was trading 0.1 percent down at $1,502.49 per ounce by 0524 GMT, having hit a high of $1,503.91, its highest since Oct. 10. The metal has gained 0.8 percent this week and is heading for its biggest weekly gain since the week ended Aug. 20. U.S. gold futures were flat at $1,505 per ounce.



Treasuries Recap

The Japanese government bond prices were mostly steady, as investors awaited key central bank policy meetings due next week. The benchmark 10-year JGB futures fell 0.10 point to 154.11. The key 10-year cash JGB yield was flat at minus 0.150 percent. In the super-long zone, the 20-year and the 30-year yields stood flat at 0.240 percent and 0.385 percent, respectively, while the 40-year yield fell 1 basis point to 0.410 percent. At the shorter end of the curve, the two-year and the five-year yields rose 1 basis point each to minus 0.245 percent and minus 0.245 percent, respectively.








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#583

Post by B0N3 » Mon Oct 28, 2019 9:33 pm

Asia Roundup:
Aussie at 1-week low as Fitch expects sharp decline in GDP growth, dollar rallies on progress in U.S.-China trade deal, Asian shares at 3-month peak –
Monday, October 28th, 2019






Market Roundup

Fitch affirms Australia at “AAA”, outlook stable

Gold consolidates as U.S.-China trade tensions ease

Oil steadies as Russia reaffirms commitment to output cuts



Economic Data Ahead

(0500 ET/0900 GMT) EZ M3 Money Supply 3M September

(0500 ET/0900 GMT) EZ M3 Money Supply YoY September

(0500 ET/0900 GMT) EZ Private Loans YoY September



Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index surged ahead of a U.S. Federal Reserve meeting this week where policymakers are expected to cut interest rates but emphasize their reluctance to ease policy further. The greenback against a basket of currencies traded up at 97.86, having touched a low of 97.14 earlier in the month, its lowest since August 9.

EUR/USD: The euro consolidated near 1-week lows, weighed down by last week's business surveys which point to stagnating economic momentum in the eurozone. The European currency traded flat at 1.1080, having touched a low of 1.1072 on Friday, its lowest since October 17. Investors’ attention will remain on a Eurozone money supply, private loan data, and ECB President Draghi's speech ahead of the U.S. data, including Chicago Fed National Activity Index, preliminary wholesale inventories, goods trade balance and Dallas Fed manufacturing business index. Immediate resistance is located at 1.1101 (10-DMA), a break above targets 1.1130. On the downside, support is seen at 1.1046, a break below could drag it below 1.1012.

USD/JPY: The dollar rallied to an over 1-week peak after the U.S. Trade Representative’s office stated that U.S. and Chinese trade officials neared finalizing parts of the Phase 1 trade pact. Investors now await the Fed meeting ending Oct. 30 and a Bank of Japan meeting ending Oct. 31. The Fed is expected to cut interest rates for a third time this year, while the BoJ is likely to keep policy on hold next week. The major was trading 0.1 percent up at 108.66, having hit a high of 108.79 earlier, its highest since October 17. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. data, including Chicago Fed National Activity Index, preliminary wholesale inventories, goods trade balance and Dallas Fed manufacturing business index. 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 108.49 (October 24), a break below could take it near at 108.03 (October 14).

GBP/USD: Sterling steadied above the 1.2800 handle, as investors remained cautious ahead of an agreement which is expected to delay Britain’s separation from the European Union to January 31 after Prime Minister Boris Johnson failed to win approval for his Brexit timetable. The major traded 0.05 percent up at 1.2816, having hit a low of 1.2788 on Thursday, it’s lowest since October 17. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2882 (5-DMA), a break above could take it near 1.2949. On the downside, support is seen at 1.2748, a break below targets 1.2700. Against the euro, the pound was trading 0.1 percent down at 86.44 pence, having hit a high of 85.74 earlier in the month, it’s highest since May 8.

AUD/USD: The Australian dollar declined, hovering towards a 1-week low hit in the previous session, after the global rating agency Fitch kept affirmed stable outlook and “AAA” rating for Australia in the latest analysis, however, it forecast that Gross Domestic Product growth to slow sharply to 1.7 percent in 2019, from 2.7 percent in 2018 while also expecting a rise to 2.3 percent in 2020. The Aussie trades 0.1 percent down at 0.6810, having hit a low of 0.6809 on Friday, it’s lowest since October 17. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6751, a break below targets 0.6723. On the upside, resistance is located at 0.6843 (5-DMA), a break above could take it near 0.6880.

NZD/USD: The New Zealand dollar plunged to a 1-week low as investors ignored weekend news concerning the U.S.-China trade deal, Brexit and geopolitics. New Zealand markets are closed in observance of Labor Day. The Kiwi trades 0.05 percent down at 0.6345, having touched a low of 0.6343 earlier, its lowest level since October 18. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6393 (5-DMA), a break above could take it near 0.6416 (October 21 High). On the downside, support is seen at 0.6323 (21-DMA), a break below could drag it below 0.6300.


Equities Recap

Asian shares
advanced to a 3-month high as hopes of a U.S.-China trade deal as soon as next month boosted risk sentiment.

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

Tokyo's Nikkei gained 0.3 percent to 22,871.03 points, Australia's S&P/ASX 200 index rose 0.1 percent to 6,747.30 points and South Korea's KOSPI surged 0.4 percent to 2,096.11 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 traded 1.2 percent higher at 26,983.82 points. Taiwan shares added 0.2 percent to 11,319.87 points.


Commodities Recap

Crude Oil prices steadied near multi-week peaks after Russia affirmed its commitment to a deal with OPEC producers to keep production in check and support prices. International benchmark Brent crude was trading flat at $61.93 per barrel by 0320 GMT, having hit a high of $62.09 earlier, its highest since September 27. U.S. West Texas Intermediate was trading 0.2 percent lower at $56.51 a barrel, after rising as high as $56.80 earlier, its highest since September 26.

Gold prices consolidated within narrow ranges after rising nearly 1 percent in the previous session, as trade tensions between the United States and China eased. Spot gold was trading flat at $1,504.57 per ounce by 0324 GMT, having hit a high of $1,517.85 on Friday, its highest since Oct. 3. U.S. gold futures were up 0.1 percent at $1,507.40 per ounce.



Treasuries Recap

On Friday, yields on U.S. 5-year, 7-year, and benchmark 10-year notes climbed to 5-week peaks, while yields on 2-year notes hit a 3-week high.







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#584

Post by B0N3 » Tue Oct 29, 2019 6:26 pm

Asia Roundup:
Japanese yen trades marginally lower after CPI data, Asian markets mixed, gold trades flat at $1,490 mark –
Tuesday, October 29, 2019






Market Roundup

U.K. Prime Minister Boris Johnson failed to win support for an early general election.

EU has agreed to extend the deadline for Brexit until January 31, 2020.

Japan Tokyo core CPI y/y stands at 0.5 pct vs 0.5 pct previous release (expected 0.7).

Japan Tokyo CPI y/y stands at 0.4 pct vs 0.4 pct previous release.

South Korea manufacturing BSI index stands at 74 vs 73 previous release.

Thailand industrial production Sept y/y stands at -4.7 pct vs -4.40 pct previous release (expected -2.05).



Economic Data Ahead

(0300 ET/0700 GMT) UK nationwide HPI.

(0300 ET/0700 GMT) German import price index.

(0345 ET/0745 GMT) France consumer confidence.

(0400 ET/0800 GMT) Spain retail sales.

(0500 ET/0900 GMT) Italy PPI.

(0530 ET/0930 GMT) UK money supply, consumer credit, mortgage approvals, mortgage lending.

(0530ET/0930 GMT) South Africa unemployment rate.



Key Events Ahead

(0550 ET/0950 GMT) German Buba President Weidmann’s Speech.



FX Beat

DXY: The U.S. dollar index that tracks the greenback against a basket of other currencies inched up 0.03% to 97.79.

EUR/USD: The euro trades flat against U.S. dollar and consolidates around 1.11 mark. It made intraday high at $1.1102 and low at $1.1091mark. A consistent close below $1.1079 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 lower against U.S. dollar after CPI, core CPI data. The pair is currently trading around 109.00 mark. It made intraday high at 109.06 and low at 108.92 levels. A sustained close above 108.93 is required to take the parity higher towards key resistances around 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 108.38 will drag the parity down towards key support around 106.90 and 104.20 marks respectively.

GBP/USD: The pound trades flat against U.S. dollar and stabilizes above $1.2800 mark. The pair slipped after U.K. Prime Minister Boris Johnson failed to win support for an early general election. Now the EU has agreed to extend the deadline for Brexit until January 31, 2020. A sustained close below $1.2821 requires for dragging the parity down towards key support around $1.2644 and $1.2352 mark respectively. On the other side, key resistances are seen at $1.2911, 1.30, 1.3158 and 1.3226 levels respectively.

AUD/USD: The Aussie appreciates against U.S. dollar and currently trading around $0.6857 mark. The pair made intraday high at $0.6859 and low at $0.6835 levels. A consistent close below $0.6820 requires for downside rally. On the other side, a sustained close above $0.6867 will take the parity higher towards $0.6977 and $0.7076 levels respectively.

NZD/USD: The New Zealand dollar erases previous gain against U.S. dollar and stabilizes above $0.6350 mark. Pair made intraday high at $0.6375 and low at $0.6346. A sustained close above $0.6350 requires for the upside rally. Alternatively, current downside rally will take the parity down towards key supports around $0.6236 and $0.6196 levels respectively.



Equities Recap

Tokyo's Nikkei was trading 0.43 pct higher at 22,965.50 points.

Hong Kong’s Hang Seng index was trading 0.42 percent lower at 26,776.48 points.

South Korea’s Kospi was trading 0.04 percent lower at 2,091.47 points.



Commodities Recap

Crude Oil was trading slightly down on Tuesday. Brent crude futures were trading marginally lower to $61.56 while U.S. crude was trading around $55.55 a barrel.

Gold was stabilizes below $1,500 mark on Tuesday and was currently trading around $1,492 mark. Gold faces strong resistance at $1,505 mark and sustained close above targets key resistances around $1,532 and $$1,552 mark respectively. Alternatively, a consistent close below $1,492 mark will drag the parity down towards $1,472 and $1,440 mark respectively.



Treasuries Recap

The Australian government bonds remained flat during Asian session of the second trading day of the week Tuesday amid a muted trading session that witnessed data of little economic significance. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, remained steady at 1.175 percent, the yield on the long-term 30-year bond hovered around 1.753 percent and the yield on short-term 2-year too traded flat at 0.829 percent.

The Japanese government bonds closed mixed Tuesday ahead of the country’s industrial production data for the month of September, scheduled to be released on October 30 by 23:50 GMT and the Bank of Japan’s (BoJ) monetary policy meeting, due to be held on October 31 will provide further direction to the debt market. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, remained 11 basis points down at -0.111 percent, the yield on the long-term 30-year jumped 2 basis points to 0.450 percent and the yield on short-term 2-year suffered 20 basis points to -0.207 percent.








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#585

Post by B0N3 » Thu Oct 31, 2019 7:22 pm

Asia Roundup:
Japanese yen appreciates after BOJ's policy rate decision, Asian markets in green, gold back above $1,490 mark –
Thursday, October 31, 2019






Market Roundup

BOJ keeps policy interest rate unchanged at -0.10 pct.

China’s manufacturing PMI stands at 49.3 vs 49.8 previous release (expected 49.9).

China’s non – manufacturing PMI stands at 52.8 vs 53.7 previous release (expected 53.7).

Japan’s industrial production m/m stands at 1.4 pct vs -1.2 pct previous release (expected 0.4).

South Korea’s industrial production y/y stands at 0.4 pct vs -3.3 pct previous release (expected -1.1).

South Korea’s retail sales m/m stands at -2.2 pct vs 3.9 pct previous release.




Economic Data Ahead

(0300 ET/0700 GMT) German retail sales m/m, y/y.

(0345 ET/0745 GMT) France CCPI, HICP.

(0400 ET/0800 GMT) Spain GDP.

(0430 ET/0830 GMT) Hong Kong GDP q/q, y/y.

(0500 ET/0900 GMT) Italy unemployment rate.

(0500 ET/0900 GMT) Spain current account.

(0530 ET/0930 GMT) South Africa PPI.

(0600 ET/1000 GMT) Italy CPI, HICP.

(0600 ET/1000 GMT) India Federal fiscal deficit.

(0600 ET/1000 GMT) Euro zone CPI, core CPI, GDP, unemployment rate.

(0700 ET/1100 GMT) Italy GDP.

(0800 ET/1200 GMT) India infrastructure output.

(0800 ET/1200 GMT) Brazil unemployment rate.

(0800 ET/1200 GMT) South Africa trade balance.




Key Events Ahead

(0230 ET/0630 GMT) BOJ Press conference.

(0400 ET/0800 GMT) ECB’s De Guindos speaks.




FX Beat

DXY:
The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.30% to 97.35.

EUR/USD: The euro rises noticeably against U.S. dollar after FOMC’s interest rate decision. It made intraday high at $1.1170 and low at $1.1147 mark. A sustained close above $1.1150 will drag the parity higher towards key resistances around $1.1220, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively. On the other hand, A consistent close below $1.1079 will drag the parity down towards key supports around $1.1026 and $1.0852 levels respectively.

USD/JPY: The Japanese yen strengthens in early Asia on robust industrial production data. Today BOJ keeps benchmark interest rate unchanged at -0.10 pct. The pair is currently trading around 108.68 mark. It made intraday high at 108.90 and low at 108.58 levels. A sustained close above 108.93 is required to take the parity higher towards key resistances around 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 108.83 will drag the parity down towards key support around 108.38, 106.90 and 104.20 marks respectively.

GBP/USD: The pound trades marginally higher against U.S. dollar and stabilizes above $1.2900 mark. The pair slipped after U.K. Prime Minister Boris Johnson failed to win support for an early general election. Now, UK parliament approves early general election on December 12. A sustained close below $1.2821 requires for dragging the parity down towards key support around $1.2644 and $1.2352 mark respectively. On the other side, key resistances are seen at $1.2973, 1.3058, 1.3140 and 1.3226 levels respectively.

AUD/USD: The Aussie trades marginally higher against U.S. dollar and currently trading around $0.6920 mark. The pair made intraday high at $0.6929 and low at $0.6896 levels. A consistent close below $0.6820 requires for downside rally. On the other side, a sustained close above $0.6902 will take the parity higher towards $0.6977 and $0.7076 levels respectively.

NZD/USD: The New Zealand dollar strengthens on robust business confidence data. Pair made intraday high at $0.6432 and low at $0.6384. A sustained close above $0.6422 requires for the upside rally. Alternatively, a consistent close below $0.6349 will take the parity down towards key supports around $0.6236 and $0.6196 levels respectively.




Equities Recap

Tokyo's Nikkei was trading 0.33 pct higher at 22,919.50 points.

Hong Kong’s Hang Seng was trading 1.05 percent higher at 26,952.48 points.

South Korea’s kospi was trading 0.93 percent higher at 2,099.59 points.




Commodities Recap

Crude Oil WTI Futures were dropped 0.1% to $55.01. International Brent Oil Futures gained 0.3% to $60.44.

Gold trades marginally higher on Thursday and touches $1,499 mark in early Asia. Gold faces strong resistance at $1,505 mark and sustained close above targets key resistances around $1,532 and $$1,552 mark respectively. Alternatively, a consistent close below $1,487 mark will drag the parity down towards $1,472 and $1,440 mark respectively.




Treasuries Recap

The Australian government bonds slipped during Asian session Thursday amid a muted trading day that witnessed data of little economic significance as investors shrugged-off the 25bp interest rate cut by the Federal Reserve late yesterday. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, rose 1-1/2 basis points to 1.156 percent, the yield on the long-term 30-year bond hovered around 1.726 percent and the yield on short-term 2-year slumped nearly 3 basis points to 0.853 percent.

The Japanese government bond yields slumped at close Thursday after the Federal Reserve adopted a 25bp interest rate cut at its policy meeting in the overnight session, as was widely anticipated by market participants. However, the Bank of Japan’s (BoJ) monetary policy meeting, concluded early today, delivered no change, failing to create any major impact on domestic bond market. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, plunged 13 basis points to -0.138 percent, the yield on the long-term 30-year slipped nearly 1-1/2 basis points to 0.399 percent and the yield on short-term 2-year slumped 18 basis points to -0.234 percent.








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#586

Post by B0N3 » Mon Nov 04, 2019 7:22 pm

Asia Roundup:
Aussie falls in early Asia as retail sales data misses expectations, Asian markets noticeably up, gold trades flat at $1,511 mark –
Monday, November 04, 2019






Market Roundup

Australia’s retail sales m/m stands at 0.2 pct vs 0.4 pct previous release (expected 0.4).

Australia’s MI inflation gauge m/m stands at 0.1 pct vs 0.1 pct previous release.

PBOC increases yuan’s fixing by 55 pips to 7.0382 per U.S. dollar vs 7.0437 a day earlier.



Economic Data Ahead

(0245 ET/0645 GMT) Swiss SECO consumer climate.

(0300 ET/0700 GMT) Brazil inflation index.

(0345 ET/0745 GMT) France budget balance.

(0415 ET/0815 GMT) Spain manufacturing PMI.

(0445 ET/0845 GMT) Italy manufacturing PMI.

(0450 ET/0850 GMT) France manufacturing PMI.

(0455 ET/0855 GMT) German manufacturing PMI.

(0500 ET/0900 GMT) Euro zone manufacturing PMI.

(0530 ET/0930 GMT) UK construction PMI.

(0530 ET/0930 GMT) Euro zone sentix investor confidence.

(0700 ET/1100 GMT) Brazil PPI.

(0725 ET/1125 GMT) Brazil BCB focus market readout.

(0900 ET/1300 GMT) Singapore manufacturing PMI.




Key Events Ahead

No significant event scheduled



FX Beat

DXY:
The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.03% to 97.21.

EUR/USD: The euro trades flat against U.S. dollar and currently trading around $1.1165 mark. It made intraday high at $1.1173 and low at $1.1159 mark. A sustained close above $1.1169 will drag the parity higher towards key resistances around $1.1220, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively. On the other hand, a consistent close below $1.1151 will drag the parity down towards key supports around $1.1079, $1.1026 and $1.0852 levels respectively.

USD/JPY: The Japanese yen remains almost unchanged as Japanese banks will be closed in observance of Culture Day. The pair is currently trading around 108.23 mark. It made intraday high at 108.25 and low at 108.18 levels. A sustained close above 108.16 is required to take the parity higher towards key resistances around 108.83, 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 108.02 will drag the parity down towards key support around 106.90 and 104.20 marks respectively.

GBP/USD: The pound trades marginally higher against U.S. dollar and stabilizes below $1.2950 mark. UK parliament approves early general election on December 12. A sustained close below $1.2940 requires for dragging the parity down towards key support around $1.2820, $1.2644 and $1.2352 mark respectively. On the other side, key resistances are seen at $1.2973, 1.3058, 1.3140 and 1.3226 levels respectively. UK’s constructions PMI due today at 0930 GMT will provide further directions to the parity.

AUD/USD: The Aussie depreciates in early Asia after lower than expected retail sales data. The pair made intraday high at $0.6923 and low at $0.6903 levels. A consistent close below $0.6893 requires for downside rally towards $0.6704 mark. On the other side, a sustained close above $0.6912 will take the parity higher towards $0.6977 and $0.7076 levels respectively.

NZD/USD: The New Zealand dollar strengthens remarkably on Monday and hits fresh 3 – month high at $0.6464 mark. Pair made intraday high at $0.6464 and low at $0.6427. A sustained close above $0.6422 requires for the upside rally. Alternatively, a consistent close below $0.6349 will take the parity down towards key supports around $0.6236 and $0.6196 levels respectively.


Equities Recap

Tokyo's Nikkei
Japanese banks will be closed in observance of Culture Day.

Hong Kong’s Hang Seng index was trading 1.44 percent higher at 27,494.48 points.

South Korea’s Kospi was trading 1.45 percent higher at 2,130.42 points.




Commodities Recap

Crude Oil WTI Futures dropped 0.6% to $55.88. International Brent Oil Futures fell 0.5% to $61.36.

Gold trades flat on Monday and stabilizes above $1,510 mark. Gold faces strong resistance at $1,513 mark and sustained close above targets key resistances around $1,532 and $$1,552 mark respectively. Alternatively, a consistent close below $1,502 mark will drag the parity down towards $1,487, $1,472 and $1,440 mark respectively.




Treasuries Recap

The Australian government
bonds plunged during Asian session of the first trading day of the week as investors remained disappointed by retail sales data for the month of September. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 6-1/2 basis points to 1.170 percent, the yield on the long-term 30-year bond surged nearly 6 basis points to 1.744 percent and the yield on short-term 2-year gained nearly 2-1/2 basis points to 0.857 percent.







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#587

Post by B0N3 » Tue Nov 05, 2019 8:01 pm

Asia Roundup:
Aussie steadies as RBA stands pat, dollar rallies against yen on U.S.-China trade deal hopes, Asian shares at 4-month peak –
Tuesday, November 5th, 2019






Market Roundup

Australia government maintains RBA's 2-3% inflation target

RBA keeps interest rates on hold at 0.75 percent

Oil steadies on trade optimism



Economic Data Ahead

(0500 ET/1000 GMT) EZ producer price index MoM September

(0500 ET/1000 GMT) EZ producer price index YoY September




Key Events Ahead

No significant event scheduled



FX Beat

DXY:
The dollar index rose amid signs the United States and China are inching closer to a truce in their trade war and on optimism the U.S. economy is poised for solid, consumer-driven growth. The greenback against a basket of currencies traded up at 97.58, having touched a low of 97.11 on Friday, its lowest since August 9.

EUR/USD: The euro plunged to a near 1-week low after data released yesterday showed Eurozone's factory activity contracted sharply in October as demand was stifled by the U.S. trade war with China and the persistent lack of clarity over Britain’s departure from the European Union. The European currency traded 0.1 percent down at 1.1121, having touched a low of 1.1112 earlier, its lowest since October 30. Investors’ attention will remain on a Eurozone producer price index, ahead of the U.S. economic data, including trade balance, JOLTS Job Opening, service PMI by Markit and ISM. Immediate resistance is located at 1.1141 (5-DMA), a break above targets 1.1162. On the downside, support is seen at 1.1106, a break below could drag it below 1.1083 (21-DMA).

USD/JPY: The dollar rallied, extending gains for the third straight session, amid growing optimism the United States and China are on the verge of reaching a preliminary agreement. Investors also await the U.S. ISM non-manufacturing report due later, which is expected to show activity accelerated slightly in October. The major was trading 0.2 percent up at 108.80, having hit a high of 108.82 earlier, its highest since October 31. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. trade balance, JOLTS Job Opening, service PMI by Markit and ISM. Immediate resistance is located at 109.03 (October 28 High), a break above targets 109.31 (August 1 High). On the downside, support is seen at 108.29 (October 21 Low), a break below could take it near at 108.03 (October 14 Low).

GBP/USD: Sterling consolidated within narrow ranges as investors attention focused on political developments as election campaigning gets underway. On Monday, the British currency tumbled on data showing UK construction PMI shrank for the sixth month in a row in October, reflecting a slowdown in growth due to political uncertainty. The major traded flat at 1.2880, having hit a high of 1.2975 on Thursday, it’s highest since October 22. Investors’ attention will remain on the development surrounding Brexit and UK service PMI, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2949 (October 24 High), a break above could take it near 1.3000. On the downside, support is seen at 1.2806, a break below targets 1.2748. Against the euro, the pound was trading flat at 86.36 pence, having hit a high of 85.74 last month, it’s highest since May 8.

AUD/USD: The Australian dollar gained, reversing most of its previous session losses, after Reserve Bank of Australia left its cash rate at a record low of 0.75 percent and reiterated its concern about consumer spending. The Aussie trades 0.3 percent up at 0.6902, having hit a low of 0.6876 earlier, it’s lowest since October 30. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6864 (10-DMA), a break below targets 0.6838. On the upside, resistance is located at 0.6921, a break above could take it near 0.6950.

NZD/USD: The New Zealand dollar steadied after ANZ National Bank data showed its Commodity Price Index rose 1.2 percent in October, above expectations of 0.2 percent and previous 0.0 percent. The Kiwi trades 0.2 percent up at 0.6413, having touched a low of 0.6390 earlier, its lowest level since October 31. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6435 (October 22 High), a break above could take it near 0.6456 (November 1 High). On the downside, support is seen at 0.6370 (October 21 Low), a break below could drag it below 0.6300.



Equities Recap

Asian shares
advanced to a 4-month peak after Beijing and Washington spoke of progress in trade talks.

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

Tokyo's Nikkei gained 1.9 percent to 23,288.67 points, Australia's S&P/ASX 200 index rose 0.2 percent to 6,697.10 points and South Korea's KOSPI surged 0.5 percent to 2,139.97 points.

Hong Kong’s Hang Seng traded 0.6 percent higher at 27,706.73 points. Taiwan shares added 0.8 percent to 11,644.03 points.

Shanghai Composite Index rose 0.8 percent to 2,999.48 points, while CSI 300 index traded 0.9 percent up at 4,012.61 points.



Commodities Recap

Crude Oil prices steadied after rising to a 1-1/2 month peak as investors kept an eye on U.S. inventory data due later. International benchmark Brent crude was trading flat at $62.11 per barrel by 0437 GMT, having hit a high of $62.76 on Monday, its highest since September 26. U.S. West Texas Intermediate was trading flat at $56.27 a barrel, after rising as high as $57.37 on Monday, its highest since September 24.

Gold prices declined, extending previous session losses, as hopes of a U.S.-China trade pact boosted the greenback and stoked appetite for riskier assets. Spot gold was trading 0.3 percent down at $1,505.56 per ounce by 0441 GMT, having hit a high of $1,516.05 on Friday, its highest since Oct. 25. U.S. gold futures inched down 0.2 percent to $1,507.70 per ounce.



Treasuries Recap

The Australian government
bonds slumped during Asian session of the second trading day of the week tracking investors’ improved optimism over the U.S.-China trade deal. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 5 basis points to 1.120 percent, the yield on the long-term 30-year bond surged nearly 5 basis points to 1.796 percent and the yield on short-term 2-year gained 3-1/2 basis points to 0.899 percent by 04:05GMT.







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#588

Post by B0N3 » Wed Nov 06, 2019 8:00 pm

Asia Roundup:
Kiwi at 1-week trough ahead of labour market data, greenback steadies on U.S.-China trade deal optimism, Asian shares surge –
Wednesday, November 6th, 2019






Market Roundup

Gold firms ahead of trade talks

Oil falls on large U.S. crude build



Economic Data Ahead

(0315 ET/0815 GMT) Spain Service PMI

(0345 ET/0845 GMT) Italy Service PMI

(0350 ET/0850 GMT) France Service PMI

(0350 ET/0850 GMT) France Composite PMI

(0355 ET/0855 GMT) Germany Service PMI

(0350 ET/0850 GMT) Germany Composite PMI

(0400 ET/0900 GMT) EZ Service PMI

(0400 ET/0900 GMT) EZ Composite PMI

(0500 ET/1000 GMT) EZ retail sales



Key Events Ahead

(0400 ET/0900 GMT) European Central Bank Vice-president Luis De Guindos' speech

(0430 ET/0930 GMT) European Central Bank Executive Board member Yves Mersch gives a speech




FX Beat

DXY:
The dollar index steadied near a 3-week peak after a survey on the U.S. service sector published yesterday showed that business sentiment had improved in October from a three-year low in September. The greenback against a basket of currencies traded flat at 97.91, having touched a high of 98.11 on Tuesday, its lowest since October 17.

EUR/USD: The euro declined, hovering towards a near 3-week low hit in the previous session, as the greenback surged on the back of strong U.S. economic data. The European currency traded 0.05 percent down at 1.1065, having touched a low of 1.1063 on Tuesday, its lowest since October 17. Investors’ attention will remain on a series of data from the Eurozone economies, EZ service PMI and retail sales, ahead of the U.S. economic data, including flash nonfarm productivity and unit labour cost data. Immediate resistance is located at 1.1088 (21-DMA), a break above targets 1.1119 (10-DMA). On the downside, support is seen at 1.1045, a break below could drag it below 1.1022.

USD/JPY: The dollar edged down after rising to a near 1-week peak in the prior session on rising hopes for a U.S.-China trade deal and a string of solid U.S. economic data. Investors expect that the Trump administration could roll back some of the tariffs it imposed on goods from China as part of a phase one U.S.-China trade deal. The major was trading 0.1 percent down at 109.07, having hit a high of 109.25 on Tuesday, its highest since October 30. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. flash nonfarm productivity and unit labour cost data. Immediate resistance is located at 109.28 (October 30 High), a break above targets 109.62 (May 31 High). On the downside, support is seen at 108.89, a break below could take it near at 108.54 (5-DMA).

GBP/USD: Sterling consolidated within narrow ranges, as the Bank of England is set to hold interest rates unchanged at a policy meeting on Thursday and a national election less than six weeks away. Investors will closely watch any changes in opinion poll trends for the major political parties before taking big positions on the British pound. The major traded flat at 1.2877, having hit a high of 1.2975 on Thursday, it’s highest since October 22. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2949 (October 24 High), a break above could take it near 1.3000. On the downside, support is seen at 1.2806, a break below targets 1.2748. Against the euro, the pound was trading flat at 85.97 pence, having hit a high of 85.74 last month, it’s highest since May 8.

AUD/USD: The Australian dollar rose, extending previous session gains, as the Aussie 10-year yield hit the highest level in over three months. The 10-year yield is trading at 1.254 percent, the highest level since July 25, representing a 17 basis point gain on the low of 1.08 registered on November 1. The Aussie trades 0.1 percent up at 0.6897, having hit a low of 0.6876 on Tuesday, it’s lowest since October 30. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6868 (10-DMA), a break below targets 0.6838. On the upside, resistance is located at 0.6921, a break above could take it near 0.6950.

NZD/USD: The New Zealand dollar plunged to a 1-week low as investors cautiously awaited domestic labour market data. The economy's unemployment rate is expected to rise to 4.1 percent in the third quarter, up from 3.9 percent in the previous quarter, while the employment change is forecast to slow notably, from 0.8 percent to 0.3 percent. The Kiwi trades 0.05 percent down at 0.6373, having touched a low of 0.6364 earlier, its lowest level since October 30. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6435 (October 22 High), a break above could take it near 0.6456 (November 1 High). On the downside, support is seen at 0.6358 (21-DMA), a break below could drag it below 0.6300.



Equities Recap

Asian shares
surged as investors cheered on better-than-expected U.S. services sector data and rising hopes for a U.S.-China trade deal.

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

Tokyo's Nikkei gained 0.2 percent to 23,297.25 points, Australia's S&P/ASX 200 index fell 0.6 percent to 6,660.20 points and South Korea's KOSPI surged 0.1 percent to 2,145.66 points.

Hong Kong’s Hang Seng traded 0.2 percent higher at 27,725.79 points. Taiwan shares added 0.1 percent to 11,653.07 points.

Shanghai Composite Index declined 0.3 percent to 2,982.69 points, while CSI 300 index traded 0.3 percent down at 3,990.49 points.


Commodities Recap

Crude Oil prices declined, weighed down by a larger-than-expected build-up in U.S. crude stocks, after gaining for three straight sessions on expectations of an easing of in U.S.-China trade tensions. International benchmark Brent crude was trading 0.6 percent down at $62.55 per barrel by 0447 GMT, having hit a high of $63.17 on Tuesday, its highest since September 24. U.S. West Texas Intermediate was trading 0.6 percent down at $56.88 a barrel, after rising as high as $57.46 on Tuesday, its highest since September 24.

Gold prices steadied after tumbling more than 1 percent in the previous session, as investors awaited further clarity on the U.S.-China trade talks. Spot gold was trading 0.2 percent up at $1,485.88 per ounce by 0451 GMT, having dipped 1.7 percent to a low of $1,479.27 on Tuesday, its lowest since Oct. 16. U.S. gold futures were 0.3 percent higher at $1,488 per ounce.



Treasuries Recap

The Australian government
bonds continued to down trend during Asian session Wednesday tracking a similar movement in the United States’ Treasuries after optimism struck over the U.S.-China trade deal, urging investors to shift towards riskier assets.The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 3-1/2 basis points to 1.251 percent, the yield on the long-term 30-year bond surged 3 basis points to 1.826 percent while the yield on short-term 2-year remained flat at 0.897 percent.







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#589

Post by B0N3 » Fri Nov 08, 2019 6:41 pm

Asia Roundup:
Antipodeans tumble on soft Chinese trade figures, dollar near 5-month peak against yen amid renewed hopes of U.S.-China trade deal, Asian shares off 6-month high –
Friday, November 8th, 2019






Market Roundup

Chinese imports fell 6.4% from a year ago in October

Chinese exports fell 0.9% from a year ago in October

Gold hovers near 1-month low on U.S.-China trade deal hopes

Oil declines on rising U.S. stockpiles




Economic Data Ahead

(0200 ET/0700 GMT) German trade balance

(0200 ET/0700 GMT) German current balance

(0245 ET/0745 GMT) France trade balance

(0245 ET/0745 GMT) France current balance

(0245 ET/0745 GMT) France industrial output

(0245 ET/0745 GMT) France nonfarm payroll




Key Events Ahead

No significant event scheduled



FX Beat

DXY:
The dollar index held firm near a 3-week peak after data released yesterday showed the number of Americans filing applications for unemployment benefits fell more than expected last week, consistent with strong labor market conditions and continued job growth. The greenback against a basket of currencies traded flat at 98.14, having touched a high of 98.23 on Thursday, its highest since October 16.

EUR/USD: The euro consolidated near a 3-week low hit in the previous session, after the European Commission forecast that the eurozone economy is likely to grow slower than earlier expected this year and next, due to global trade conflicts, geopolitical tensions and Brexit. The European currency traded flat at 1.1049, having touched a low of 1.1036 on Thursday, its lowest since October 16. Investors’ attention will remain on a series of data from the Eurozone economies, ahead of the U.S. economic data, including wholesale inventories, Michigan prelim consumer sentiment index and Fed Brainard's speech. Immediate resistance is located at 1.1096 (5-DMA), a break above targets 1.1123. On the downside, support is seen at 1.1022, a break below could drag it below 1.1002.

USD/JPY: The euro steadied after rising to an over 5-month peak in the previous session as risk sentiment improved on news China and the United States have agreed to roll back tariffs on each others’ goods in a phase one trade deal if it is completed. The major was trading flat at 109.23, having hit a high of 109.48 on Thursday, its highest since May 31. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. wholesale inventories, Michigan prelim consumer sentiment index and Fed Brainard's speech. Immediate resistance is located at 109.62 (May 31 High), a break above targets 109.92 (May 30 High). On the downside, support is seen at 108.82 (5-DMA), a break below could take it near at 108.45.

GBP/USD: Sterling held near 2-week low after two Bank of England policymakers unexpectedly voted to cut interest rates on Thursday due to uncertainties posed by Britain’s exit from the European Union. The major traded flat at 1.2812, having hit a low of 1.2794 on Thursday, it’s lowest since October 24. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2874 (10-DMA), a break above could take it near 1.2949 (October 24 High). On the downside, support is seen at 1.2748, a break below targets 1.2700. Against the euro, the pound was trading flat at 86.21 pence, having hit a high of 85.85 on Tuesday, it’s highest since October 22.

AUD/USD: The Australian dollar declined, reversing most of its previous session gains after data showed China’s exports and imports fell less than expected in October. Chinese exports fell 0.9 percent, while imports fell 6.4 percent from a year ago in October, against expectations of 3.9 percent drop in exports and imports to fall 8.9 percent from a year earlier. However, the downside appears limited as trade balance for October was $42.81 billion, compared to forecasts of $40.83 billion. The Aussie trades 0.3 percent down at 0.6879, having hit a low of 0.6861 on Thursday, it’s lowest since October 30. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6848, a break below targets 0.6821. On the upside, resistance is located at 0.6930, a break above could take it near 0.6948.

NZD/USD: The New Zealand dollar eased, extending losses for the fifth straight session, as dismal employment numbers bolstered bets that the Reserve Bank of New Zealand would cut rates next week. Data released on Tuesday showed, domestic seasonally adjusted unemployment rate rose to 4.2 percent in the September quarter, up from 3.9 percent last quarter. The Kiwi trades 0.1 percent down at 0.6360, having touched a low of 0.6341 on Thursday, its lowest level since October 30. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6396, a break above could take it near 0.6431. On the downside, support is seen at 0.6333, a break below could drag it below 0.6300.


Equities Recap

Asian shares
declined from 6-month highs amid uncertainty over whether and when the United States and China will seal a deal marking a truce in their trade war.

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

Tokyo's Nikkei rose 0.05 percent to 23,345.20 points, Australia's S&P/ASX 200 index declined 0.05 percent to 6,724.10 points and South Korea's KOSPI eased 0.4 percent to 2,136.84 points.

Hong Kong’s Hang Seng traded 0.6 percent lower at 27,670.66 points. Taiwan shares shed 0.2 percent to 11,586.36 points.

Shanghai Composite Index rose 0.05 percent to 2,980.83 points, while CSI 300 index traded 0.1 percent up at 3,995.92 points.




Commodities Recap

Crude Oil prices declined amid fading hopes that a deal to end the lingering trade war between Washington and Beijing would be signed any time soon. International benchmark Brent crude was trading 0.3 percent down at $62.12 per barrel by 0446 GMT, having hit a high of $63.28 on Wednesday, its highest since September 24. U.S. West Texas Intermediate was trading 0.3 percent down at $56.87 a barrel, after rising as high as $57.84 on Thursday, its highest since September 24.

Gold prices steadied after falling to a near 1-month low in the previous session after China and the United States agreed to roll back tariffs as part of the first phase of a trade deal. Spot gold was trading flat at $1,468.99 per ounce by 0449 GMT, having touched a low of $1,460.48 on Thursday, its lowest since Oct. 1. U.S. gold futures were up 0.2 percent at $1,469.60 per ounce.



Treasuries Recap

The Australian government
bonds during Asian session of the last trading day of the week after risk sentiments were lifted, following trade deal optimism amid ongoing Brexit uncertainties. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 8-1/2 basis points to 1.296 percent, the yield on the long-term 30-year bond surged 8 basis points to 1.878 percent and the yield on short-term 2-year gained 2 basis points to 0.893 percent.








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B0N3
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#590

Post by B0N3 » Mon Nov 11, 2019 6:54 pm

Asia Roundup:
Kiwi halts 5-day losing streak ahead of RBNZ policy meeting, dollar eases against yen amid persisting U.S.-China trade deal concerns, Asian shares plunge –
Monday, November 11th, 2019






Market Roundup

Gold rallies as economic slowdown linger

Oil declines on concern over U.S.-China trade talks progress




Economic Data Ahead

(0430 ET/0930 GMT) UK trade balance

(0430 ET/0930 GMT) UK industrial production

(0430 ET/0930 GMT) UK gross domestic product

(0430 ET/0930 GMT) UK goods trade balance

(0430 ET/0930 GMT) UK manufacturing production




Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index edged lower from a 3-week peak amid fading optimism that the United States and China would roll back tariffs that have hurt global growth. The greenback against a basket of currencies traded 0.1 percent down at 98.13, having touched a high of 98.40 on Friday, its highest since October 16.

EUR/USD: The euro steadied, halting a 5-day losing streak, after the European Commission last week cut its growth forecast for the eurozone to 1.1 percent this year from 1.2 percent it expected in July, and to 1.2 percent in 2020 and 2021 from 1.4 percent. The European currency traded flat at 1.1024, having touched a low of 1.1016 on Friday, its lowest since October 15. Investors’ attention will remain on a series of data from the Eurozone economies, ahead of the Fed Rosengren's speech. Immediate resistance is located at 1.1067 (5-DMA), a break above targets 1.1123. On the downside, support is seen at 1.1012, a break below could drag it below 1.0985.

USD/JPY: The dollar eased, extending previous session losses, as uncertainty persisted over whether the United States and China could end their damaging trade war. The major was trading 0.3 percent down at 108.93, having hit a high of 109.48 on Thursday, its highest since May 31. Investors’ will continue to track the broad-based market sentiment, ahead of the Fed Rosengren's speech. Immediate resistance is located at 109.62 (May 31 High), a break above targets 109.92 (May 30 High). On the downside, support is seen at 108.74 (10-DMA), a break below could take it near at 108.49.

GBP/USD: Sterling nudged higher after falling to a 3-week in the previous session on data that showed Britain’s economy lost momentum this year, hurt by a global downturn due to the U.S.-China trade war as well as increased uncertainty over its exit from the European Union. The major traded 0.2 percent up at 1.2796, having hit a low of 1.2768 on Friday, it’s lowest since October 17. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2840 (5-DMA), a break above could take it near 1.2897 (November 6 High). On the downside, support is seen at 1.2748, a break below targets 1.2700. Against the euro, the pound was trading flat at 86.15 pence, having hit a low of 86.57 on Thursday, it’s lowest since October 25.

AUD/USD: The Australian dollar declined amid worries about progress in Chinese-U.S. trade talks after U.S. President Donald Trump contradicted reports about a rollback in tariffs sought by China. The Aussie trades 0.1 percent down at 0.6850, having hit a low of 0.6847 on Friday, it’s lowest since October 29. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6835, a break below targets 0.6809. On the upside, resistance is located at 0.6882, a break above could take it near 0.6907.

NZD/USD:The New Zealand dollar rebounded after falling for five straight sessions, ahead of a rate-setting meeting of the New Zealand central bank later in the week. The Kiwi trades 0.3 percent up at 0.6349, having touched a low of 0.6322 on Friday, its lowest level since October 17. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6396, a break above could take it near 0.6431. On the downside, support is seen at 0.6313, a break below could drag it below 0.6289.


Equities Recap

Asian shares
plunged from 6-month highs following a fresh escalation of violence in Hong Kong while uncertainty remained over whether the United States and China could end their trade war.

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

Tokyo's Nikkei fell 0.3 percent to 23,331.84 points, Australia's S&P/ASX 200 index rose 0.7 percent to 6,772.50 points and South Korea's KOSPI eased 0.6 percent to 2,124.09 points.

Hong Kong’s Hang Seng traded 2.8 percent lower at 26,877.71 points. Taiwan shares shed 1.3 percent to 11,427.28 points.

Shanghai Composite Index eased 1.8 percent to 2,909.86 points, while CSI 300 index traded 1.8 percent down at 3,903.17 points.




Commodities Recap

Crude Oil prices declined amid renewed doubts over the prospects of a trade deal between the United States and China, while concerns over excess supplies also weighed on market sentiment. International benchmark Brent crude was trading 0.9 percent down at $61.98 per barrel by 0530 GMT, having hit a low of $60.65 on Friday, its lowest since November 1. U.S. West Texas Intermediate was trading 1.08 percent down at $56.72 a barrel, after falling as low as $55.74 on Friday, its lowest since November 1.

Gold prices steadied after recording a 3-month low in the previous session, as concerns linger over the trade war between the United States and China and the prospect of a slowing global economy. Spot gold was trading 0.2 percent up at $1,462.70 per ounce by 0533 GMT, having touched a low of $1,456.08 on Friday, its lowest August 5. U.S. gold futures were flat at $1,462.60 per ounce.



Treasuries Recap

The Australian government bonds gained during Asian session of the first trading day of the week Monday ahead of the country’s employment report for the month of October, scheduled to be released later this week amid ongoing U.S.-China trade uncertainties after President Donald Trump casted doubts over potential rollback of existing tariffs as part of the Phase 1 trade deal. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slipped 1/2 basis point to 1.291 percent, the yield on the long-term 30-year bond hovered around 1.893 percent and the yield on short-term 2-year suffered 2 basis points to 0.874 percent.








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