FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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Re: FirewoodFX - Market News

#591

Post by B0N3 » Wed Nov 13, 2019 7:15 pm

Asia Roundup:
Kiwi at 1-week peak as RBNZ stands pat, greenback consolidates ahead of Fed Chair Powells' testimony, Asian shares tumble –
Wednesday, November 13th, 2019






Market Roundup

Oil eases on uncertainty over U.S.-China trade deal

Euro steadies amid coalition concerns

New Zealand central bank holds rates




Economic Data Ahead

(0200 ET/0700 GMT) German consumer price index October YoY

(0200 ET/0700 GMT) German consumer price index October MoM

(0430 ET/0930 GMT) UK consumer price index October MoM

(0430 ET/0930 GMT) UK consumer price index October YoY

(0430 ET/0930 GMT) UK producer price index October

(0430 ET/0930 GMT) UK retail price index October



Key Events Ahead

(0300 ET/0800 GMT) ECB non-monetary policy meeting



FX Beat

DXY: The dollar index held firm near recent highs as investors now await U.S. Federal Reserve Chairman Jerome Powell's testimony on the economic outlook before the congressional Joint Economic Committee. The greenback against a basket of currencies traded flat at 98.33, having touched a high of 98.42 on Tuesday, its highest since October 15..

EUR/USD: The euro steadied after tumbling to a near 1-month low in the previous session, as Spain's Socialist party reached a preliminary coalition deal with the far-left Unidas Podemos following an inconclusive election on Sunday. The European currency traded flat at 1.1014, having touched a low of 1.1002 on Tuesday, its lowest since October 15. Investors’ attention will remain on a series of data from the Eurozone economies, and EZ industrial production, ahead of the U.S. consumer price index, monthly budget statement and Fed officials' speeches. Immediate resistance is located at 1.1035 (5-DMA), a break above targets 1.1062. On the downside, support is seen at 1.0985, a break below could drag it below 1.0957.

USD/JPY: The dollar rebounded from a near 1-week low hit earlier in the day after U.S. President Donald Trump said a trade deal with China was close but offered no new details on negotiations. However, the upside in the pair appears limited as the political unrest in Hong Kong continued to dent investor risk sentiment. The major was trading 0.05 percent up at 109.03, 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. consumer price index, monthly budget statement and Fed officials' speeches. 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 108.75 (21-DMA), a break below could take it near at 108.49.

GBP/USD: Sterling consolidated within narrow ranges as investors remained cautious ahead of the December 12 election. An opinion poll by Survation showed the lead held by the Conservatives over the main opposition Labour party had narrowed over the past week. The major traded 0.05 percent up at 1.2838, having hit a high of 1.2897 on Monday, it’s highest since November 5. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2917, a break above could take it near 1.2972 (November 1 High). On the downside, support is seen at 1.2794, a break below targets 1.2768. Against the euro, the pound was trading flat at 85.71 pence, having hit a high of 85.57 on Monday, it’s highest since May 8.

AUD/USD: The Australian dollar plunged to a 2-week low due to lack of details about the U.S.-China trade talks in U.S. President Donald Trump's speech. The Aussie trades 0.05 percent down at 0.6842, having hit a low of 0.6830 earlier, it’s lowest since October 28. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6810, a break below targets 0.6784. On the upside, resistance is located at 0.6876, a break above could take it near 0.6907.

NZD/USD:The New Zealand dollar rallied by more than 1 percent to a 1-week peak after the Reserve Bank of New Zealand kept interest rates at an all-time low of 1 percent saying it saw no urgency to ease policy further. The Kiwi trades 0.9 percent up at 0.6392, having touched a high of 0.6416 earlier, its highest level since November 5. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6416, a break above could take it near 0.6435. On the downside, support is seen at 0.6313, a break below could drag it below 0.6289.


Equities Recap

Asian shares
tumbled on growing worries U.S.-China trade talks are stalling after President Donald Trump failed to deliver any new information on a trade deal between the two countries.

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

Tokyo's Nikkei declined 0.9 percent to 23,304.64 points, Australia's S&P/ASX 200 index rose 0.8 percent to 6,701.00 points and South Korea's KOSPI fell 0.9 percent to 2,120.57 points.

Hong Kong’s Hang Seng traded 1.8 percent lower at 26,587.81 points. Taiwan shares shed 0.4 percent to 11,471.84 points.

Shanghai Composite Index eased 0.2 percent to 2,910.55 points, while CSI 300 index traded 0.05 percent up at 3,904.04 points.




Commodities Recap

Crude Oil prices eased as prospects for a trade deal between the United States and China dimmed, weighing on the outlook for the global economy and energy demand. International benchmark Brent crude was trading 0.2 percent down at $61.79 per barrel by 0406 GMT, having hit a low of $60.65 on Friday, its lowest since November 1. U.S. West Texas Intermediate was trading 0.2 percent lower at $56.66 a barrel, after falling as low as $55.74 on Friday, its lowest since November 1.

Gold prices surged as investors remained cautious after a much-awaited speech by U.S. President Donald Trump gave no details on the signing of a trade deal with China. Spot gold was trading 0.2 percent at $1,458.90 per ounce by 0408 GMT, having touched a low of $1,445.51 on Tuesday, its lowest August 5. U.S. gold futures were up 0.3 percent at $1,458 per ounce.



Treasuries Recap

The Australian government bonds remained flat during Asian session amid a muted trading day that witnessed data of little economic significance. However, U.S.-China trade tussle continues to draw headlines in the financial market ahead of Australia’s employment report for the month of October, scheduled to be released on November 14 by 00:30GMT. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, remained steady at 1.276 percent, the yield on the long-term 30-year bond also flat at 1.881 percent and the yield on short-term 2-year hovered around 0.861 percent by 04:20GMT.








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#592

Post by B0N3 » Thu Nov 14, 2019 8:00 pm

Asia Roundup:
Aussie at 1-month low on downbeat employment data, dollar eases against yen amid renewed U.S.-China trade deal concerns, Asian shares slump –
Thursday, November 14th, 2019






Market Roundup

Australian Unemployment Unexpectedly Climbs

Oil rises as U.S. crude stocks decline

China's growth slowdown deepens




Economic Data Ahead

(0430 ET/0930 GMT) UK retail sales YoY

(0430 ET/0930 GMT) UK retail sales MoM

(0500 ET/1000 GMT) EZ GDP Q3

(0500 ET/1000 GMT) EZ employment change




Key Events Ahead

(0445 ET/0945 GMT) ECB De Guindos gives a speech

(0600 ET/1100 GMT) ECB Lane's speech




FX Beat

DXY: The dollar index surged after U.S. Federal Reserve Chair Jerome Powell on Wednesday told the Joint Economic Committee that negative interest rates sought by Trump are not appropriate for the U.S. economy right now. The greenback against a basket of currencies traded 0.1 percent up at 98.41, having touched a high of 98.45 on Wednesday, its highest since October 15.

EUR/USD: The euro slumped to a 1-month low after yesterday's data showed the German economy contracted by 0.1 percent during the second quarter. However, the downside appears limited as political concerns in Spain eased after Socialists agreed a coalition with the far-left Unidas Podemos party. The European currency traded 0.1 percent down at 1.0996, having touched a low of 1.0995 earlier, its lowest since October 15. Investors’ attention will remain on a series of data from the Eurozone economies, EZ gross domestic product and employment change, ahead of the U.S. producer price index, unemployment benefit claims and Fed officials' speeches. Immediate resistance is located at 1.1042, a break above targets 1.1062. On the downside, support is seen at 1.0985, a break below could drag it below 1.0957.

USD/JPY: The dollar plunged to an over 1-week low as the trade talks negotiations between the U.S. and China stalled after China expressed it did not want a deal that looked one-sided in the favor of the United States. Moreover, data showing China’s industrial production growth slowed sharply in October, rising 4.7 percent year-on-year, missing forecasts of 5.4 percent, while retail sales also slowed to fall short of expectations and investment growth hit a record low further undermined the bid tone around the pair. The major was trading 0.1 percent down at 108.71, having hit a low of 108.62 earlier, its lowest since November 5. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. producer price index, unemployment benefit claims and Fed officials' speeches. Immediate resistance is located at 109.07 (5-DMA), a break above targets 109.62 (May 31 High). On the downside, support is seen at 108.49, a break below could take it near at 108.24.

GBP/USD: Sterling tumbled after data released yesterday showed, UK's inflation fell in October to its lowest level in nearly three years, adding to expectations that the Bank of England’s next move might be an interest rate cut. The major traded 0.2 percent down at 1.2830, having hit a high of 1.2897 on Monday, it’s highest since November 5. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2904, a break above could take it near 1.2972 (November 1 High). On the downside, support is seen at 1.2806, a break below targets 1.2768. Against the euro, the pound was trading 0.1 percent down at 85.71 pence, having hit a high of 85.57 on Monday, it’s highest since May 8.

AUD/USD: The Australian dollar tumbled to a near 1-month low after data showed domestic unemployment rate increased and the economy shed jobs for the first time in 17 months, adding to evidence that central bank interest-rate cuts are failing to gain much traction. The jobless rate increased to 5.3 percent in October from 5.2 percent, while the under-utilization rate, which combines unemployment and under-employment, rose 0.3 point to 13.8 percent. The Aussie trades 0.5 percent down at 0.6799, having hit a low of 0.6795 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 0.6784, a break below targets 0.6758. On the upside, resistance is located at 0.6876, a break above could take it near 0.6907.

NZD/USD: The New Zealand dollar declined from a 9-day peak, weighed down by doubts over whether the United States and China will be able to reach a preliminary trade deal. The Kiwi trades 0.3 percent down at 0.6392, having touched a high of 0.6418 earlier, its highest level since November 5. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6426, a break above could take it near 0.6435. On the downside, support is seen at 0.6373 (21-DMA), a break below could drag it below 0.6326.




Equities Recap

Asian shares declined after China's soft economic data showed the trade war between Beijing and Washington hitting growth in the Chinese economy.

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

Tokyo's Nikkei declined 0.8 percent to 23,141.55 points, Australia's S&P/ASX 200 index surged 0.6 percent to 6,735.10 points and South Korea's KOSPI rallied 0.2 percent to 2,126.93 points.

Hong Kong’s Hang Seng traded 0.9 percent lower at 26,339.29 points. Taiwan shares shed 0.2 percent to 11,450.42 points.

Shanghai Composite Index rose 0.2 percent to 2,909.53 points, while CSI 300 index traded 0.2 percent up at 3,905.82 points.




Commodities Recap

Crude Oil prices rose to a 1-week peak, following an industry report showing a decline in U.S. crude stockpiles last week. International benchmark Brent crude was trading 0.5 percent up at $62.83 per barrel by 0545 GMT, having hit a low of $61.19 on Wednesday, its lowest since November 8. U.S. West Texas Intermediate was trading 0.4 percent higher at $57.56 a barrel, after falling as low as $56.17 on Wednesday, its lowest since November 7.

Gold prices surged as Asian equities declined after weaker-than-expected economic data out of China weighed on risk appetite. Spot gold was trading 0.1 percent up at $1,465.19 per ounce by 0548 GMT, having touched a low of $1,445.51 on Tuesday, its lowest August 5. U.S. gold futures rose 0.1 percentto $1,464.80 per ounce.


Treasuries Recap

The Australian government 10-year government bond yield slumped to over 1-week low during Asian session after the country’s employment report for the month of October created a surprise disappointment among investors, as jobless rate rose and employment change slumped. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged over 9-1/2 basis points to 1.180 percent, the yield on the long-term 30-year bond slumped over 10 basis points to 1.782 percent and the yield on short-term 2-year plummeted nearly 7 basis points to 0.794 percent.







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#593

Post by B0N3 » Fri Nov 15, 2019 7:22 pm

Asia Roundup:
Antipodeans steady, dollar halts 5-day losing streak against yen on U.S.-China trade deal hopes, investors eye EZ inflation data –
Friday, November 15th, 2019






Market Roundup

Gold eases on U.S.-China trade deal hopes

Oil gains as hopes build for OPEC supply curbs




Economic Data Ahead

(0500 ET/1000 GMT) Eurozone trade

(0500 ET/1000 GMT) Eurozone inflation




Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index eased, extending losses for third straight session, amid mixed signals on trade negotiations. The greenback against a basket of currencies traded flat at 98.16, having touched a high of 98.45 on Wednesday, its highest since October 15.

EUR/USD: The euro steadied after falling to an over 1-month low in the previous session as German Economy Minister Peter Altmaier warned that economic developments remained fragile. The European currency traded flat at 1.1022, having touched a low of 1.0989 on Thursday, its lowest since October 15. Investors’ attention will remain on a series of data from the Eurozone economies, EZ final CPI and trade balance, ahead of the U.S. retail sales, capacity utilization rate and business inventories. Immediate resistance is located at 1.1042, a break above targets 1.1062. On the downside, support is seen at 1.0985, a break below could drag it below 1.0957.

USD/JPY: The dollar surged, halting a 5-day losing streak, after White House economic adviser Larry Kudlow stated that the United States is nearing an interim trade pact with China. The major was trading 0.2 percent up at 108.59, having hit a low of 108.24 on Thursday, its lowest since November 4. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, capacity utilization rate and business inventories. Immediate resistance is located at 108.89 (5-DMA), a break above targets 109.15 (November 13 High). On the downside, support is seen at 108.29, a break below could take it near at 108.03.

GBP/USD: Sterling consolidated below the 1.2900 handle, amid expectations that Britain’s ruling Conservative Party might win a majority in a December 12 election that could finally end the Brexit impasse. The major traded flat at 1.2877, having hit a high of 1.2897 on Monday, it’s highest since November 5. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2904, a break above could take it near 1.2972 (November 1 High). On the downside, support is seen at 1.2856 (10-DMA), a break below targets 1.2806. Against the euro, the pound was trading flat at 85.59 pence, having hit a high of 85.44 on Thursday, it’s highest since May 7.

AUD/USD: The Australian dollar steadied after falling to a near 1-month low in the previous session on an unexpected rise in the nation's unemployment rate. The Aussie trades 0.1 percent up at 0.6793, having hit a low of 0.6769 on Thursday, 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 0.6708. On the upside, resistance is located at 0.6810, a break above could take it near 0.6834.

NZD/USD: The New Zealand dollar nudged higher after falling from a 9-day peak hit in the previous session, as fresh hopes for a breakthrough in U.S.-China trade talks boosted investor risk sentiment. The Kiwi trades 0.1 percent up at 0.6389, having touched a high of 0.6418 on Thursday, its highest level since November 5. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6405, a break above could take it near 0.6435. On the downside, support is seen at 0.6361 (5-DMA), a break below could drag it below 0.6326.


Equities Recap

Asian shares rallied on fresh hopes for a breakthrough in U.S.-China trade talks.

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

Tokyo's Nikkei rose 0.7 percent to 23,303.32 points, Australia's S&P/ASX 200 index surged 0.9 percent to 6,793.70 points and South Korea's KOSPI rallied 1.1 percent to 2,162.18 points.

Hong Kong’s Hang Seng traded 0.3 percent higher at 26,385.17 points. Taiwan shares added 0.7 percent to 11,525.60 points.

Shanghai Composite Index eased 0.5 percent to 2,896.49 points, while CSI 300 index traded 0.6 percent down at 3,884.72 points.



Commodities Recap

Crude Oil prices surged as OPEC’s outlook for oil demand next year fueled hopes that the producer cartel and its associates will limit supply when they meet to discuss policy on output next month. International benchmark Brent crude was trading 0.3 percent up at $62.50 per barrel by 0540 GMT, having hit a high of $63.19 on Thursday, its highest since November 6. U.S. West Texas Intermediate was trading 0.2 percent higher at $56.99 a barrel, after rising as high as $57.75 on Thursday, its highest since November 7.

Gold prices declined as risk appetite improved by comments from White House economic adviser Larry Kudlow that the United States is nearing an interim trade pact with China. Spot gold was trading 0.5 percent down at $1,464.90 per ounce by 0548 GMT, having touched a higher of $1,474.52 on Thursday, its highest November 7, but was still set to rise more than 0.5 percent this week. U.S. gold futures were down 0.5 percent at $1,466.30 an ounce.


Treasuries Recap

The Japanese government bond prices eased on revived hopes of a U.S.-China trade deal. The benchmark 10-year JGB futures fell 0.07 point to 153.05. The benchmark 10-year cash JGB yield was flat at minus 0.075 percent, off a seven-month high of minus 0.030 percent touched on Tuesday. The longer maturities fared worse, with the 20-year JGB yield rising 0.5 basis point to 0.300 percent, while the 30-year yield was up 1 basis point at 0.455 percent.








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#594

Post by B0N3 » Mon Nov 18, 2019 6:30 pm

Asia Roundup:
Antipodeans steady as China cuts repo rate, dollar rallies against yen on optimism over U.S.-China trade deal, Asian shares nudge higher –
Monday, November 18th, 2019






Market Roundup

Gold eases on U.S.-China trade deal optimism

Oil prices steady after last week's gains

China cuts repo rate




Economic Data Ahead

No major economic data releases




Key Events Ahead

(0400 ET/0900 GMT) ECB Guindos gives a speech

(0805 ET/1305 GMT) ECB Lane's speech




FX Beat

DXY: The dollar index plunged to a 1-1/2 week trough as data from the U.S. Federal Reserve on Friday showed the U.S. manufacturing downturn deepened in October. Investors now await minutes of the Federal Reserve’s last policy meeting, due on Wednesday, for clues about the future interest rate trajectory. The greenback against a basket of currencies traded 0.1 percent down at 97.88, having touched a high of 98.45 on Wednesday, its highest since October 15.

EUR/USD: The euro rallied to an over 1-week peak, as the greenback eased against a basket of currencies. The European currency traded 0.1 percent up at 1.1063, having touched a high of 1.1064 earlier, its highest since November 7. Investors’ attention will remain on ECB Guindos and Lane's speech, amid a lack of data from both the economies. Immediate resistance is located at 1.1090 (21-DMA), a break above targets 1.1123. On the downside, support is seen at 1.1023, a break below could drag it below 1.1002.

USD/JPY: The dollar surged, extending previous session gains after Chinese state media Xinhua reported Washington and Beijing had a high-level phone call on Saturday and that the two sides discussed each other’s core issues for the first phase of an initial trade agreement. The major was trading 0.1 percent up at 108.83, having hit a low of 108.24 on Thursday, its lowest since November 4. Investors’ will continue to track the broad-based market sentiment, amid a lack of economic data from the U.S. docket. Immediate resistance is located at 108.92 (10-DMA), a break above targets 109.15 (November 13 High). On the downside, support is seen at 108.53, a break below could take it near at 108.29.

GBP/USD: Sterling advanced to a 2-week peak after Prime Minister Boris Johnson said all Conservative Party candidates at the December 12 election had pledged to back his Brexit deal. Moreover, fresh opinion polls pointing to a Conservative victory further supported the upside in the British pound. The major traded 0.2 percent up at 1.2928, having hit a high of 1.2932 earlier, it’s highest since November 4. Immediate resistance is located at 1.2975, a break above could take it near 1.3012 (October 21 High). On the downside, support is seen at 1.2876 (21-DMA), a break below targets 1.2852 (10-DMA). Against the euro, the pound was trading 0.1 percent up at 85.54 pence, having hit a high of 85.45 earlier, it’s highest since May 7.

AUD/USD: The Australian dollar steadied after rebounding from multi-week lows in the previous session as traders looked to whether Washington and Beijing can soon sign off on a deal to end a trade war. The Aussie trades flat at 0.6815, having hit a low of 0.6769 on Thursday, it’s lowest since October 17. Immediate support is seen at 0.6800, a break below targets 0.6780. On the upside, resistance is located at 0.6836, a break above could take it near 0.6858.

NZD/USD: The New Zealand dollar nudged higher as comments from a top U.S. and Chinese officials raised optimism for a U.S.-China trade deal. The Kiwi trades 0.1 percent up at 0.6405, having touched a high of 0.6418 on Thursday, its highest level since November 5. Immediate resistance is located at 0.6418, a break above could take it near 0.6435. On the downside, support is seen at 0.6380 (21-DMA), a break below could drag it below 0.6367.



Equities Recap

Asian shares gained after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stoking speculation that more stimulus was on the way for the Chinese economy.

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

Tokyo's Nikkei advanced 0.5 percent to 23,416.76 points, Australia's S&P/ASX 200 index eased 0.4 percent to 6,766.80 points and South Korea's KOSPI declined 0.1 percent to 2,160.69 points.

Hong Kong’s Hang Seng traded 1.2 percent higher at 26,628.42 points. Taiwan shares added 0.6 percent to 11,599.78 points.

Shanghai Composite Index rose 0.6 percent to 2,909.20 points, while CSI 300 index traded 0.8 percent up at 3,907.93 points.



Commodities Recap

Crude Oil prices declined, following steady gains in the previous week with investors awaiting fresh clues over prospects for a trade deal between the United States and China. International benchmark Brent crude was trading 0.2 percent down at $63.19 per barrel by 0639 GMT, having hit a high of $63.63 on Friday, its highest since September 24. U.S. West Texas Intermediate was trading 0.1 percent lower at $57.62 a barrel, after rising as high as $57.93 on Friday, its highest since September 24.

Gold prices declined as optimism grew about U.S.-China trade ties following a report of constructive talks over the weekend. Spot gold was trading 0.2 percent down $1,464.36 per ounce by 0642 GMT, having touched a higher of $1,474.52 on Thursday, its highest November 7. U.S. gold futures were 0.1 percent lower at $1,466.40.




Treasuries Recap

The Australian government slightly gained during Asian session of the first trading day of the week amid a muted day that witnessed data of little economic significance ahead of the Reserve Bank of Australia’s (RBA) November monetary policy meeting minutes, scheduled to be released on November 19 by 00:30GMT. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, edged tad 1/2 basis point down to 1.155 percent, the yield on the long-term 30-year bond suffered 2-1/2basis points to 1.768 percent and the yield on short-term 2-year slipped 1 basis point to 0.794 percent.








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#595

Post by B0N3 » Tue Nov 19, 2019 6:59 pm

Asia Roundup:
Aussie eases on RBA policy meeting minutes, dollar tumbles amid doubts over the U.S.-China trade deal, Asian shares subdued –
Tuesday, November 19th, 2019






Market Roundup

Oil slips amid rise in U.S. inventories.

Gold gains on lack of U.S.-China trade talk progress




Economic Data Ahead

(0400 ET/0900 GMT) Italy industrial sales MoM September

(0400 ET/0900 GMT) Italy industrial sales YoY September

(0400 ET/0900 GMT) EZ Current Account N.S.A

(0400 ET/0900 GMT) EZ Current Account S.A

(0400 ET/0900 GMT) EZ Construction output S.A

(0400 ET/0900 GMT) EZ Construction output W.D.A




Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index declined amid receding hopes for a preliminary trade deal between the United States and China. The greenback against a basket of currencies traded 0.1 percent down at 97.77, having touched a high of 98.45 on Wednesday, its highest since October 15.

EUR/USD: The euro steadied after rising to an over 1-week peak in the previous session, after Slovenian central bank chief Boštjan Vasle stated that Eurozone growth has stabilised and the European Central Bank’s recent stimulus scheme is working as intended. The European currency traded 0.05 percent up at 1.1075, having touched a high of 1.1089 on Monday, its highest since November 7. Investors’ attention will remain on a series of data out of Eurozone economies, EZ current account and construction output, ahead of the U.S. building permits, housing starts, and Fed officials' speeches. Immediate resistance is located at 1.1091, a break above targets 1.1123. On the downside, support is seen at 1.1039, a break below could drag it below 1.1002.

USD/JPY: The dollar declined, extending previous session losses after CNBC reported that Beijing was pessimistic about a trade deal with the United States, troubled by President Donald Trump’s comments that there was no agreement on rollback of tariffs. The major was trading 0.1 percent down at 108.60, having hit a low of 108.24 on Thursday, its lowest since November 4. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. building permits, housing starts, and Fed officials' speeches. Immediate resistance is located at 108.75 (21-DMA), a break above targets 109.15 (November 13 High). On the downside, support is seen at 108.29, a break below could take it near at 108.03.

GBP/USD: Sterling surged, extending gains for the fifth straight session, as the Conservatives lead in polls for Britain’s general election, boosting the chances of Prime Minister Boris Johnson’s withdrawal deal being passed by parliament before the January 31 Brexit deadline. The major traded 0.1 percent up at 1.2959, having hit a high of 1.2985 on Monday, it’s highest since November 4. Immediate resistance is located at 1.2975, a break above could take it near 1.3012 (October 21 High). On the downside, support is seen at 1.2884 (5-DMA), a break below targets 1.2859 (10-DMA). Against the euro, the pound was trading flat at 85.45 pence, having hit a high of 85.45 earlier, it’s highest since May 6.

AUD/USD: The Australian dollar declined after minutes from a Reserve Bank of Australia policy meeting showed central bankers considered cutting rates this month. The Aussie trades 0.1 percent down at 0.6784, having hit a low of 0.6769 on Thursday, 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 0.6708. On the upside, resistance is located at 0.6836, a break above could take it near 0.6858.

NZD/USD: The New Zealand dollar plunged as investors await clearer news on the progress of trade negotiations between the United States and China. The Kiwi trades 0.1 percent down at 0.6393, having touched a high of 0.6418 on Thursday, its highest level since November 5. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6418, a break above could take it near 0.6435. On the downside, support is seen at 0.6371 (10-DMA), a break below could drag it below 0.6326.


Equities Recap

Asian shares markets were mixed in subdued trade as investors await clarity on whether U.S.-China negotiations will reach a preliminary accord to end the prolonged trade war.

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

Tokyo's Nikkei eased 0.5 percent to 23,292.65 points, Australia's S&P/ASX 200 index rallied 0.7 percent to 6,814.20 points and South Korea's KOSPI declined 0.4 percent to 2,151.17 points.

Hong Kong’s Hang Seng traded 1.3 percent higher at 27,014.42 points. Taiwan shares added 0.5 percent to 11,656.40 points

Shanghai Composite Index rose 0.6 percent to 2,925.48 points, while CSI 300 index traded 0.7 percent up at 3,936.47 points.




Commodities Recap

Crude Oil prices steadied, after tumbling in the previous session, amid market concerns over limited progress between China and the United States on rolling back trade tariffs, exacerbated by a rise in U.S. inventories. International benchmark Brent crude was trading 0.2 percent up at $62.34 per barrel by 0511 GMT, having hit a high of $63.63 on Friday, its highest since September 24. U.S. West Texas Intermediate was trading 0.2 percent higher at $56.93 a barrel, after rising as high as $57.93 on Friday, its highest since September 24.

Gold prices declined after rising to its highest in more than 1-1/2 weeks earlier in the session on fresh doubts about a trade deal between the United States and China. Spot gold eased 0.1 percent to $1,469.55 per ounce by 0528 GMT, having touched a high of $1,475.25 earlier, its highest November 7. U.S. gold futures edged up 0.2 percent to $1,474.10 per ounce.


Treasuries Recap

The Japanese government bond prices edged a tick higher amid a lack of clarity on the progress in the U.S-China trade negotiations. Benchmark 10-year JGB futures rose 0.04 point to 153.29. The key 10-year cash JGB yield fell half-a-basis point to minus 0.095 percent. The 20-year and the 40-year yields also dropped 0.5 basis point each to 0.280 percent and 0.470 percent, respectively, while the 30-year yield stood flat at 0.440 percent. The five-year yield retreated half-a-basis point to minus 0.205 percent.








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#596

Post by B0N3 » Wed Nov 20, 2019 7:12 pm

Asia Roundup:
Antipodeans ease on renewed U.S.-China trade tensions, greenback steadies ahead of Fed meeting minutes, Asian shares slump –
Wednesday, November 20th, 2019






Market Roundup

Hong Kong tensions escalate

Oil prices steady after two-day decline

Gold rises as U.S.-China trade concerns rise




Economic Data Ahead

(0200ET/0700 GMT) German producer price index MoM October

(0200ET/0700 GMT) German producer price index YoY October




Key Events Ahead

(0400 ET/0900 GMT) EU Financial Stability Review




FX Beat

DXY: The dollar index gained, extending previous session gains ahead of the release of minutes from the U.S. Federal Reserve’s last policy meeting at 1900 GMT. The greenback against a basket of currencies traded 0.1 percent up at 97.92, having touched a low of 97.68 on Monday, its lowest since November 5.

EUR/USD: The euro eased as proposals to reform the euro zone’s bailout fund created a political storm in Italy, where parties and institutions were battling over whether Rome should try to block the reform at the EU level. The European currency traded 0.05 percent down at 1.1074, having touched a high of 1.1089 on Monday, its highest since November 7. Investors’ attention will remain on a series of data out of Eurozone economies, EU financial stability review, ahead of the FOMC minutes. Immediate resistance is located at 1.1091, a break above targets 1.1123. On the downside, support is seen at 1.1039, a break below could drag it below 1.1002.

USD/JPY: The dollar slumped to a near 1-week low amid heightened worries over a U.S.-China trade deal after President Donald Trump stated Washington would raise tariffs on Chinese imports if no deal is reached with Beijing to end a trade war. The major was trading 0.05 percent down at 108.48, having hit a low of 108.35 earlier, its lowest since November 14. Investors’ will continue to track the broad-based market sentiment, ahead of the FOMC minutes. Immediate resistance is located at 108.74 (21-DMA), a break above targets 109.15 (November 13 High). On the downside, support is seen at 108.294, a break below could take it near at 108.03.

GBP/USD: Sterling plunged towards the 1.2900 handle, after a Reuters poll showed annual home price rise in Britain won’t keep pace with low inflation until 2021, and will fall in London this year as uncertainty around the country’s departure from the European Union continued to dent investor sentiment. The major traded 0.1 percent down at 1.2907, having hit a high of 1.2985 on Monday, it’s highest since November 4. Immediate resistance is located at 1.2975, a break above could take it near 1.3012 (October 21 High). On the downside, support is seen at 1.2874 (5-DMA), a break below targets 1.2859. Against the euro, the pound was trading 0.1 percent down at 85.77 pence, having hit a high of 85.21 on Monday, it’s highest since May 6.

AUD/USD:The Australian dollar declined as a lack of clarity on U.S.-China trade talks kept investors cautious. The Aussie trades 0.2 percent down at 0.6814, having hit a low of 0.6769 on Thursday, 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 0.6798, a break below targets 0.6751. On the upside, resistance is located at 0.6840, a break above could take it near 0.6854 (21-DMA).

NZD/USD: The New Zealand dollar slumped from a 2-week peak hit earlier in the day, as the prospects for progress on trade dimmed when China condemned a U.S. Senate measure on Hong Kong, vowing to take the steps necessary to safeguard its sovereignty and security. The Kiwi trades 0.2 percent down at 0.6414, having touched a high of 0.6435 earlier, its highest level since November 4. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6449, a break above could take it near 0.6465. On the downside, support is seen at 0.6404 (5-DMA), a break below could drag it below 0.6382.




Equities Recap

Asian shares
plunged on heightened worries over the U.S.-China trade deal and Hong Kong tensions.

MSCI's broadest of Asia-Pacific shares outside Japan tumbled 0.7 percent.

Tokyo's Nikkei slumped 0.6 percent to 23,148.57 points, Australia's S&P/ASX 200 index fell 1.4 percent to 6,722.40 points and South Korea's KOSPI declined 1.1 percent to 2,128.05 points.

Hong Kong’s Hang Seng traded 0.8 percent lower at 26,886.35 points. Taiwan shares shed 0.2 percent to 11,631.200 points

Shanghai Composite Index eased 0.8 percent to 2,912.22 points, while CSI 300 index traded 0.9 percent down at 3,908.80 points.




Commodities Recap

Crude Oil prices steadied after falling to a 1-1/2 week low in the previous session on a surge in U.S. stockpiles reinforced and trade tensions between the United States and China. International benchmark Brent crude was trading 0.2 percent up at $60.81 per barrel by 0507 GMT, having hit a low of $60.68 on Thursday, its lowest since November 8. U.S. West Texas Intermediate was trading 0.4 percent higher at $55.35 a barrel, after falling as low as $55.11 on Thursday, its lowest since November 1.

Gold prices surged, hovering towards a near 2-week peak hit in the previous session, amid heightened worries over the U.S.-China trade deal after President Donald Trump threatened fresh tariffs on Beijing and as the U.S. Senate passed a bill supporting Hong Kong anti-government protesters. Spot gold rose 0.1 percent to $1,474.48 per ounce at 0527 GMT, having touched a high of $1,475.25 on Tuesday, its highest November 7. U.S. gold futures were little changed at $1,474.80 per ounce.



Treasuries Recap

The Australian government bond prices rose amid conflicting signals on the U.S.-China trade talks. The benchmark 10-year JGB futures rose 0.16 point to 153.46. The 10-year JGB yield fell 1.5 basis points to minus 0.110 percent. The 20-year JGB yield fell 2 bps to 0.260 percent, while the 30-year JGB yield declined 1 bp to 0.420 percent. In the middle of the yield curve, the five-year yield fell 1 bp to minus 0.220 percent. At the short end, the two-year JGB yield was unchanged at minus 0.210 percent.







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#597

Post by B0N3 » Fri Nov 22, 2019 7:23 pm

Asia Roundup:
Antipodeans steady on U.S.-China trade deal hopes, investors await global manufacturing surveys, Asian shares off 3-week low –
Friday, November 22nd, 2019






Market Roundup

Oil falls from two-month high

Gold steadies on U.S.-China trade uncertainty




Economic Data Ahead

(0315 ET/0815 GMT) France Markit Manufacturing PMI prelim

(0315 ET/0815 GMT) France Markit Service PMI prelim

(0315 ET/0815 GMT) France Markit Composite PMI prelim

(0330 ET/0830 GMT) Germany Markit Manufacturing PMI prelim

(0330 ET/0830 GMT) Germany Markit Service PMI prelim

(0330 ET/0830 GMT) Germany Markit Composite PMI prelim

(0400 ET/0900 GMT) Eurozone Markit Manufacturing PMI prelim

(0400 ET/0900 GMT) Eurozone Markit Service PMI prelim

(0400 ET/0900 GMT) Eurozone Markit Composite PMI prelim

(0430 ET/0930 GMT) United Kingdom Markit Manufacturing PMI prelim

(0430 ET/0930 GMT) United Kingdom Markit Service PMI prelim




Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index slightly eased as investors cautiously awaited a slew of global manufacturing surveys published later in the day for clues on how deeply the U.S.-China trade dispute is hurting the world’s economy. The greenback against a basket of currencies traded down at 97.90, having touched a low of 97.68 on Monday, its lowest since November 5.

EUR/USD: The euro gained after the European Commission stated that a flash estimate showed eurozone consumer morale improved by 0.4 points to -7.2 in November from -7.6 in October. The European currency traded 0.1 percent up at 1.1067, having touched a high of 1.1097 on Thursday, its highest since November 7. Investors’ attention will remain on a series of data out of Eurozone economies, Markit PMI's and ECB President Lagarde's speech, ahead of the U.S. Markit PMI's and Michigan consumer sentiment index. Immediate resistance is located at 1.1091, a break above targets 1.1123. On the downside, support is seen at 1.1041 (10-DMA), a break below could drag it below 1.1002.

USD/JPY: The dollar consolidated within narrow ranges, as investors awaited pending developments in U.S.-China trade negotiations. The major was trading flat at 108.62, having hit a low of 108.27 on Thursday, its lowest since November 14. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. Markit PMI's and Michigan consumer sentiment index. Immediate resistance is located at 108.85, a break above targets 109.15 (November 13 High). On the downside, support is seen at 108.36, a break below could take it near at 108.03.

GBP/USD: Sterling steadied above the 1.2900 handle as markets awaited an election manifesto from the opposition Labour Party, with the ruling Conservatives appearing to still hold their lead in opinion polls. The major traded at 0.1 percent up 1.2921, having hit a high of 1.2985 on Monday, it’s highest since November 4. Investors’ attention will remain on the development surrounding the general elections, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2949, a break above could take it near 1.3000 (October 22 High). On the downside, support is seen at 1.2876 (21-DMA), a break below targets 1.2859. Against the euro, the pound was trading 0.1 percent up at 85.62 pence, having hit a high of 85.21 on Monday, it’s highest since May 6.

AUD/USD: The Australian dollar held near 1-week low after Commerce ministry spokesman Gao Feng told reporters that China will try hard to resolve the dispute. The Aussie trades flat at 0.6785, having hit a low of 0.6783 on Thursday, it’s lowest since November 15. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6769, a break below targets 0.6742. On the upside, resistance is located at 0.6808 (5-DMA), a break above could take it near 0.6821 (10-DMA).

NZD/USD: The New Zealand dollar rose, halting a 2-day losing streak after the Wall Street Journal reported that top U.S. negotiators had been invited to Beijing for a new round of face-to-face talks. The Kiwi trades 0.1 percent up at 0.6412, having touched a high of 0.6437 on Thursday, its highest level since November 4. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6449, a break above could take it near 0.6465. On the downside, support is seen at 0.6385 (10-DMA), a break below could drag it below 0.6360.




Equities Recap

Asian shares rebounded from a 3-week low recorded in the prior session after China said it was willing to work with the United States to resolve core trade concerns.

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

Tokyo's Nikkei rose 0.3 percent to 23,112.88 points, Australia's S&P/ASX 200 index gained 0.6 percent to 6,609.80 points and South Korea's KOSPI rallied 0.2 percent to 2,100.40 points.

Hong Kong’s Hang Seng traded 0.2 percent higher at 26,529.77 points. Taiwan shares added 0.1 percent to 11,566.80 points

Shanghai Composite Index eased 0.6 percent to 2,886.85 points, while CSI 300 index traded 1.1 percent down at 3,849.72 points.




Commodities Recap

Crude Oil prices declined from their highest level in nearly two months recorded in the previous session on doubts over future demand for crude as uncertainty continued to shroud a potential U.S.-China trade deal. International benchmark Brent crude was trading 0.2 percent down at $63.51 per barrel by 0602 GMT, having hit a high of $64.01 on Thursday, its highest since September 24. U.S. West Texas Intermediate was trading 0.3 percent lower at $58.11 a barrel, after rising as high as $58.64 on Thursday, its lowest since September 23.

Gold pprices surged as doubts prevailed over an interim trade deal being reached between the United States and China this year. Spot gold was trading 0.1 percent up at $1,466.18 per ounce by 0607 GMT, having touched a high of $1,478.70 on Wednesday, its highest November 7. U.S. gold futures rose 0.1 percent to $1,465.10.






Treasuries Recap

The Japanese government bond prices eased, sending yields higher across the curve. The benchmark 10-year JGB futures fell 0.32 point to 153.1. The 10-year JGB yield rose 3 basis points to minus 0.085 percent. The 20-year JGB yield increased 2.5 bps to 0.265 percent. The 30-year JGB yield rose 2 bps to 0.410 percent. In the middle of the yield curve, the five-year yield increased 2.5 bps to minus 0.185 percent. At the short end of the curve, the two-year JGB yield rose 1.5 bps to minus 0.185 percent.







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#598

Post by B0N3 » Mon Nov 25, 2019 7:37 pm

Asia Roundup:
Antipodeans steady on U.S.-China trade progress signs, gold at 1-week trough, investors eye German IFO survey – Monday, November 25th, 2019





Market Roundup

Oil steadies on fresh hopes for U.S.-China trade talks

Gold prices touched their lowest in a week

Brexit promise support sterling




Economic Data Ahead

(0400 ET/0900 GMT) German IFO Business Survey

(0400 ET/0900 GMT) German IFO Business Survey

(0400 ET/0900 GMT) German IFO Business Survey

(0600 ET/1100 GMT) UK CBI Distributive Trades Survey




Key Events Ahead

No significant event scheduled



FX Beat

DXY: The dollar index held firm near a 1-1/2 week peak as Friday's better-than-expected U.S. manufacturing data eased the need for an interest rate cut. The greenback against a basket of currencies traded flat at 98.24, having touched a high of 98.31 on Friday, its highest since November 14.

EUR/USD: The euro steadied after falling to a 1-week low in the previous session on data that showed euro zone business growth slowed this month as a downturn in the manufacturing industry appears to be increasingly affecting the bloc’s services industry. The European currency traded 0.1 percent up at 1.1026, having touched a low of 1.1014 on Friday, its lowest since November 15. Investors’ attention will remain on German IFO survey, ahead of the U.S. Chicago Fed National Activity Index and Dalls Fed Manufacturing Business Index. Immediate resistance is located at 1.1059 (5-DMA), a break above targets 1.1091. On the downside, support is seen at 1.1002, a break below could drag it below 1.0966.

USD/JPY: The dollar surged to a 1-week peak on broadly upbeat headlines about U.S.-China trade talks. On Friday, Chinese President Xi Jinping said that he wants to reach an agreement, while U.S. President Donald Trump said progress was going well. The major was trading 0.2 percent up at 108.63, having hit a low of 108.27 on Thursday, its lowest since November 14. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. Chicago Fed National Activity Index and Dallas Fed Manufacturing Business Index. Immediate resistance is located at 109.03, a break above targets 109.25 (November 5 High). On the downside, support is seen at 108.36, a break below could take it near at 108.03.

GBP/USD: Sterling rebounded from a 1-1/2 week low on hopes of an imminent Brexit and an end to years of political uncertainty. British Prime Minister Boris Johnson, whose Conservative Party leads in opinion polls ahead of the December 12 election, promised to bring a deal to leave the European Union to parliament before Christmas. The major traded at 0.1 percent up 1.2846, having hit a low of 1.2829 on Friday, it’s lowest since November 13. Investors’ attention will remain on the development surrounding the general elections, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2906 (5-DMA), a break above could take it near 1.2942. On the downside, support is seen at 1.2815, a break below targets 1.2768. Against the euro, the pound was trading flat at 85.80 pence, having hit a low of 86.05 on Friday, it’s lowest since Nov. 12.

AUD/USD: The Australian dollar rose, halting a 3-day losing streak, as positive signs for the U.S. economy and upbeat headlines on U.S.-China trade talks boosted investor confidence. The Aussie trades 0.2 percent up at 0.6794, having hit a low of 0.6780 on Friday, it’s lowest since November 14. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6769, a break below targets 0.6742. On the upside, resistance is located at 0.6818 (10-DMA), a break above could take it near 0.6846 (21-DMA).

NZD/USD: The New Zealand dollar gained after U.S. national security adviser Robert O’Brien said an initial trade agreement with China is still possible by the end of the year. The Kiwi trades 0.3 percent up at 0.6420, having touched a high of 0.6437 on Thursday, its highest level since November 4. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6449, a break above could take it near 0.6465. On the downside, support is seen at 0.6393 (10-DMA), a break below could drag it below 0.6360.


Equities Recap

Asian shares[/B] rallied amid hope for some progress in the endless U.S.-China trade dispute.

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

Tokyo's Nikkei rose 0.8 percent to 23,292.81 points, Australia's S&P/ASX 200 index gained 0.3 percent to 6,731.40 points and South Korea's KOSPI rallied 1.02 percent to 2,123.50 points.

Hong Kong’s Hang Seng traded 1.6 percent higher at 27,018.88 points. Taiwan shares shed 0.05 percent to 11,561.58 points

Shanghai Composite Index rose 0.7 percent to 2,904.04 points, while CSI 300 index traded 0.7 percent up at 3,875.14 points.




Commodities Recap

Crude Oil prices consolidated after rising to multi-week in the previous session as positive news from Washington over the weekend rekindled optimism in global markets that the United States and China could soon sign a deal to end their trade war. International benchmark Brent crude was trading flat at $63.48 per barrel by 0520 GMT, having hit a high of $64.25 earlier, its highest since September 24. U.S. West Texas Intermediate was trading 0.1 percent lower at $57.81 a barrel, after rising as high as $58.71 on Friday, its highest since September 23.

Gold prices plunged to a 1-week low as positive developments towards an interim trade deal between the United States and China lifted demand for riskier assets. Spot gold was trading down 0.1 percent at $1,460.69 per ounce by 0538 GMT, having touched a low of $1460.69 earlier, its lowest since Nov. 18. U.S. gold futures inched 0.2 percent lower to $1,460.60.



Treasuries Recap

The prices for most Japanese government bonds rose after the Bank of Japan conducted regular buying operations for monetary policy. The Benchmark 10-year JGB futures rose 0.13 point to 153.29. The 10-year JGB yield fell 1 basis point to minus 0.095 percent, while the 20-year JGB yield fell 0.5 basis point to 0.270 percent. The two-year JGB yield fell 1 basis point to minus 0.200 percent. At the super-long end of the yield curve, the 30-year JGB yield rose 1 basis point to 0.435 percent, while the 40-year JGB yield rose 1 basis point to 0.465percent.








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#599

Post by B0N3 » Tue Nov 26, 2019 6:42 pm

Asia Roundup:
Aussie off lows, dollar at 2-week peak on revived U.S.-China trade hopes, investors eye ECB Guindos's speech –
Tuesday, November 26th, 2019






Market Roundup

Oil gains ahead of OPEC Dec. 5 meeting

Gold dips on China-U.S. trade optimism




Economic Data Ahead

(0200 ET/0700 GMT) German Gfk consumer confidence survey




Key Events Ahead

(0315 ET/0815 GMT) European Central Bank Vice-president Luis De Guindos

(0315 ET/0815 GMT) European Central Bank Executive Board member Yves Mersch's speech

(0330 ET/0830 GMT) European Central Bank Executive Board member Philip Richard Lane gives a speech





FX Beat

DXY: The dollar index held firm near 1-1/2 week peak as investors grew more hopeful the United States and China could soon sign an interim deal to end their trade war. The greenback against a basket of currencies traded flat at 98.28, having touched a high of 98.38 on Monday, its highest since November 14.

EUR/USD: The euro consolidated near a 1-1/2 week low hit in the previous session on data that showed business growth had almost ground to a halt and the services industry growth was weaker than expected. The European currency traded flat at 1.1012, having touched a low of 1.1003 on Monday, its lowest since November 14. Investors’ attention will remain on German Gfk Consumer confidence survey, ahead of the U.S. prelim wholesale inventories, goods trade balance, hosing price index, Richmond Fed Manufacturing Index, new home sales, consumer confidence and Fed Brainard's speech. Immediate resistance is located at 1.1039 (10-DMA), a break above targets 1.1068 (21-DMA). On the downside, support is seen at 1.0995, a break below could drag it below 1.0966.

USD/JPY: The dollar rallied to a 2-week peak, boosted by optimism on a trade deal between the United States and China. The major was trading 0.1 percent up at 108.95, having hit a high of 109.20 earlier, its highest since November 12. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. prelim wholesale inventories, goods trade balance, hosing price index, Richmond Fed Manufacturing Index, new home sales, consumer confidence and Fed Brainard's speech. Immediate resistance is located at 109.25 (November 5 High), a break above targets 109.48 (November 7 High). On the downside, support is seen at 108.76 (21-DMA), a break below could take it near at 108.66 (5-DMA).

GBP/USD: Sterling held firm near the 1.2900 handle, supported by hopes that the ruling Conservatives could win a majority in the December 12 election to end a hung parliament. The major traded flat at 1.2894, having hit a low of 1.2829 on Friday, it’s lowest since November 13. Investors’ attention will remain on the development surrounding the general elections, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2930 a break above could take it near 1.2985. On the downside, support is seen at 1.2867, a break below targets 1.2823. Against the euro, the pound was trading flat at 85.40 pence, having hit a low of 86.05 on Friday, it’s lowest since Nov. 12.

AUD/USD: The Australian dollar steadied after falling to a 1-1/2 month low in the previous session on disappointing domestic economic data that has led investors to narrow the odds on another rate cut from the Reserve Bank of Australia. The Aussie trades 0.1 percent up at 0.6784, having hit a low of 0.6768 on Thursday, it’s lowest since November 14. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6760, a break below targets 0.6742. On the upside, resistance is located at 0.6806 (10-DMA), a break above could take it near 0.6834.

NZD/USD: The New Zealand dollar rose, extending previous session gains, amid rising hopes of U.S.-China trade deal. The Kiwi trades 0.1 percent up at 0.6423, having touched a high of 0.6437 on Thursday, its highest level since November 4. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6449, a break above could take it near 0.6465. On the downside, support is seen at 0.6399 (10-DMA), a break below could drag it below 0.6360.




Equities Recap

Asian shares rallied amid signs of new momentum in Beijing’s and Washington’s efforts to end their long trade dispute.

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

Tokyo's Nikkei rose 0.4 percent to 23,373.37 points, Australia's S&P/ASX 200 index gained 0.8 percent to 6,787.50 points and South Korea's KOSPI rallied 0.3 percent to 2,129.07 points.

Hong Kong’s Hang Seng traded 0.1 percent lower at 26,965.14 points. Taiwan shares added 0.1 percent to 11,576.82 points

Shanghai Composite Index rose 0.2 percent to 2,910.99 points, while CSI 300 index traded 0.3 percent down at 3,890.18 points.





Commodities Recap

Crude Oil prices surged, extending previous session gains after comments from the United States and China revived hopes that both the economies are soon to agree on ending their trade war. International benchmark Brent crude was trading 0.2 percent at $63.69 per barrel by 0510 GMT, having hit a high of $64.25 on Friday, its highest since September 24. U.S. West Texas Intermediate was trading 0.2 percent higher at $57.98 a barrel, after rising as high as $58.71 on Friday, its highest since September 23.

Gold prices plunged to a 2-week low as the dollar firmed and equities rose on increasing optimism that China and the United States could seal an interim trade deal by year-end. Spot gold was trading 0.1 percent down at $1,454.20 per ounce by 0518 GMT, having touched a low of $1451.53 earlier, its lowest since Nov. 12. U.S. gold futures inched 0.2 percent lower to $1,453.50.



Treasuries Recap

On Monday, the U.S. Treasury yields were little changed after the Treasury Department sold $40 billion in two-year notes.








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B0N3
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#600

Post by B0N3 » Wed Nov 27, 2019 7:19 pm

Asia Roundup:
Aussie eases on rate cut forecast, dollar rallies against yen on Trump trade deal comments, Asian shares surge –
Wednesday, November 27th, 2019






Market Roundup

Oil dips after U.S. stock build

Gold eases as Trump's remarks

RBA seen cutting rates twice, introducing QE in 2020: Westpac

RBNZ's semi-annual review gives no update on monetary policy




Economic Data Ahead

No major economic data releases




Key Events Ahead

(0430 ET/0930 GMT) ECB Lane’s speech




FX Beat

DXY: The dollar index rose after tumbling in the previous session on downbeat U.S. economic data. The U.S. consumer confidence fell for a fourth straight month in November amid worries about current business conditions and employment prospects, while sales of new U.S. single-family homes and goods trade deficit unexpectedly fell in October. The greenback against a basket of currencies traded 0.1 percent up at 98.35, having touched a high of 98.38 on Monday, its highest since November 14.

EUR/USD: The euro declined, reversing most of its previous session gains, as weak eurozone data continued to dent investor risk sentiment. The European currency traded 0.1 percent down at 1.1009, having touched a low of 1.1003 on Monday, its lowest since November 14. Investors’ attention will remain on a series of data from the eurozone economies and ECB Lane's speech, ahead of the U.S. personal consumption expenditure, core-personal consumption expenditure, durable goods, personal income, personal spending, unemployment benefit claims, gross domestic product price index and pending home sales. Immediate resistance is located at 1.1040 (10-DMA), a break above targets 1.1065 (21-DMA). On the downside, support is seen at 1.0995, a break below could drag it below 1.0966.

USD/JPY: The dollar surged, extending gains for the sixth straight session, as upbeat signals from U.S.-China trade talks fanned hopes of an easing of tariff hostilities. On Tuesday, U.S. President Donald Trump said the United States and China are close to agreement on the first phase of a trade deal after top negotiators from both the countries spoke by telephone and agreed to keep working on remaining issues. The major was trading 0.1 percent up at 109.15, having hit a high of 109.20 on Tuesday, its highest since November 12. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. personal consumption expenditure, core-personal consumption expenditure, durable goods, personal income, personal spending, unemployment benefit claims, gross domestic product price index and pending home sales. Immediate resistance is located at 109.25 (November 5 High), a break above targets 109.48 (November 7 High). On the downside, support is seen at 108.87 (Nov. 26 Low), a break below could take it near at 108.69 (10-DMA).

GBP/USD: Sterling declined, extending previous session losses, as a Kantar poll published on Tuesday showed Labour had reduced the Conservative advantage to 11 points from 18 over the past week. The major traded 0.2 percent down at 1.2845, having hit a low of 1.2829 on Friday, it’s lowest since November 13. Investors’ attention will remain on the development surrounding the general elections, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2892 (10-DMA), a break above could take it near 1.2930. On the downside, support is seen at 1.2823, a break below targets 1.2794. Against the euro, the pound was trading flat at 85.70 pence, having hit a low of 86.05 on Friday, it’s lowest since Nov. 12.

AUD/USD: The Australian dollar slumped following a forecast from Westpac Bank Chief Economist Bill Evans stating he expected two central bank interest rate cuts and quantitative easing (QE) to be introduced next year. Moreover, data showing profits at China's industrial firms declined in annual terms for the third consecutive month in October further dented the bid tone around the major. The Aussie trades 0.2 percent down at 0.6772, having hit a low of 0.6767 on Tuesday, 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 0.6750, a break below targets 0.6715. On the upside, resistance is located at 0.6801 (10-DMA), a break above could take it near 0.6834.

NZD/USD: The Australian dollar eased from a near 1-week peak after the Reserve Bank of New Zealand released its semi-annual review of the financial system but gave no update on monetary policy. The RBNZ said it was ramping up its scrutiny of banks and insurers ahead of its decision on raising bank capital requirements. The Kiwi trades down at 0.6422, having touched a high of 0.6432 earlier, its highest level since November 21. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6449, a break above could take it near 0.6465. On the downside, support is seen at 0.6408 (10-DMA), a break below could drag it below 0.6360.




Equities Recap

Asian shares
rallied as traders looked ahead to a possible outcome to drawn out U.S.-China trade talks.

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

Tokyo's Nikkei rose 0.3 percent to 23,437.77 points, Australia's S&P/ASX 200 index gained 0.9 percent to 6,850.60 points and South Korea's KOSPI rallied 0.3 percent to 2,128.44 points.

Hong Kong’s Hang Seng traded 0.05 percent lower at 26,98.11 points. Taiwan shares added 0.6 percent to 11,647.46 points

Shanghai Composite Index fell 0.2 percent to 2,900.22 points, while CSI 300 index traded 0.5 percent down at 3,871.88 points.





Commodities Recap

Crude Oil prices declined after an industry report showed an unexpected build in U.S. crude inventories, but optimism around the signing of the first phase of a U.S.-China trade deal limited the downside. International benchmark Brent crude was trading 0.1 percent up at $64.20 per barrel by 0544 GMT, having hit a high of $64.30 on Tuesday, its highest since September 24. U.S. West Texas Intermediate was trading flat at $58.29 a barrel, after rising as high as $58.71 on Friday, its highest since September 23.

Gold prices plunged as demand for riskier assets surged after U.S. President Donald Trump said an interim trade deal with China is close. Spot gold was trading 0.2 percent down at $1,458.20 per ounce by 0549 GMT, having touched a low of $1449.92 on Tuesday, its lowest since Nov. 12. U.S. gold futures were unchanged at $1,460.60.



Treasuries Recap

Japanese government bond prices rose after the Bank of Japan board member Makoto Sakurai said the central bank would only consider expanding stimulus if overseas risks triggered a financial crisis. The benchmark 10-year JGB futures rose 0.19 point to 153.51. The 10-year JGB yield fell 1 basis point to minus 0.110 percent. The 20-year JGB yield fell 2 basis points to 0.235 percent. The 30-year JGB yield fell 2 basis points to 0.390 percent, while the 40-year JGB yield was unchanged at 0.440 percent. The five-year yield fell 1 basis point to minus 0.210 percent. At the short end of the yield curve, the two-year JGB yield fell 0.5 basis point to minus 0.195 percent.

The Aussie 10-year yields were now 28 basis points below NZ yields, compared to 11 basis points early this month.










DAPATKAN INFO TERKINI DAILY MARKET NEWS SETIAP HARI DI FIREWOODFX
http://www.firewoodfx.com/category/forex-market-news/



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