FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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#561

Post by B0N3 » Thu Sep 12, 2019 8:08 pm

Asia Roundup:
Euro consolidates ahead of ECB policy decision, dollar rallies against yen as trade optimism boosts risk sentiment, Asia shares at 6-week peak – Thursday, September 12th, 2019





Market Roundup

Oil increases as the U.S., China swap concessions in the trade war

Gold slips as trade optimism boost risk appetite



Economic Data Ahead

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

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



Key Events Ahead

(0745 ET/1145 GMT) ECB interest rate decision



FX Beat

DXY: The dollar index held gains near a 1-week peak after data released on Wednesday showed U.S. producer prices unexpectedly rose in August and underlying producer prices rebounded. However, markets still expect the Federal Reserve to cut interest rates again next week to support a slowing economy. The greenback against a basket of currencies traded flat at 98.64, having touched a low of 97.86 on Wednesday, its lowest since August 26.

EUR/USD: The euro steadied after falling to a 1-week low in the previous session, as investors cautiously await the European Central Bank policy meeting, where is expected to cut interest rates and deliver other stimulus measures in a bid to boost the region's economy. ECB policymakers are leaning toward a package that includes a rate cut, a pledge to keep rates low for longer and compensation for banks over the side-effects of negative rates. The European currency traded flat at 1.1014, having touched a low of 1.1010 on Wednesday, its lowest since September 4. Investors’ attention will remain on a series of data out from the Eurozone economies and ECB interest rate decision, ahead of the U.S. unemployment benefit claims, consumer price index and monthly budget statement. Immediate resistance is located at 1.1059 (21-DMA), a break above targets 1.1116 (August 27 High). On the downside, support is seen at 1.0963 (August 30 High), a break below could drag it below 1.0925 (September 3 Low).

USD/JPY: The dollar rallied to a 6-week peak, as investors’ appetite for risk showed cautious improvement after China announced its first batch of tariff exemptions for 16 types of U.S. products, ahead of a planned meeting between the two countries to try and de-escalate their tariff row. Moreover, news that U.S. President Donald Trump agreed to delay an additional increase in tariffs on Chinese goods by two weeks at the request of China’s Vice Premier Liu He supported the bid tone around the pair. The major was trading 0.2 percent up at 108.03, having hit a high of 108.16 earlier, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims, consumer price index and monthly budget statement. Immediate resistance is located at 108.37 (July 16 High), a break above targets 108.75 (July 25 High). On the downside, support is seen at 107.28 (5-DMA), a break below could take it lower at 106.76 (10-DMA).

GBP/USD: Sterling consolidated within narrow ranges, as the probability of a no-deal Brexit was still a concern for traders, given that Johnson stood firm on taking Britain out of the European Union by the end of next month. The major traded 0.1 percent down at 1.2315, having hit a high of 1.2384 on Monday, it’s highest since July 26. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2353 (September 5 High), a break above could take it near 1.2384 (September 9 High). On the downside, support is seen at 1.2279 (September 6 Low), a break below targets 1.2236(10-DMA). Against the euro, the pound was trading 0.1 percent down at 89.38 pence, having hit a high of 89.04 on Monday, it’s highest since July 25.

AUD/USD:The Australian dollar surged to a fresh 6-week peak, as trade war tensions eased after China exempted a basket of U.S. goods from its own tariffs while U.S. President Donald Trump said he would delay a scheduled tariff hike by two-weeks in October. The Aussie trades traded 0.3 percent up at 0.6875, having hit a high of 0.6879 earlier, it’s highest since July 31. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6848 (5-DMA), a break below targets 0.6807 (September 6 Low). On the upside, resistance is located at 0.6916 (July 31 High), a break above could take it near 0.6955 (July 26 High).

NZD/USD: The New Zealand dollar rose to a near 1-month peak, as the United States on Wednesday agreed to delay increasing tariffs on $250 billion worth of Chinese imports to Oct. 15 from Oct.1, after China moved to exempt some U.S. anti-cancer drugs and other goods from tariffs. The Kiwi trades 0.1 percent up at 0.6432, having touched a high of 0.6444 on Monday, its highest level since August 16. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6471 (August 13 High), a break above could take it near 0.6498 (August 9 High). On the downside, support is seen at 0.6383 (21-DMA), a break below could drag it below 0.6325 (September 4 Low).



Equities Recap

Asian shares
touched a 6-week high on hopes for a thaw in U.S.-China trade frictions and expectations that the European Central Bank will push interest rates even further into negative territory.

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

Tokyo's Nikkei rose 0.8 percent to 21,759.61 points, Australia's S&P/ASX 200 index rallied 0.3 percent to 6,654.90 points.

Hong Kong’s Hang Seng traded 0.2 percent lower at 27,105.48 points. Taiwan shares added 0.3 percent to 10,827.55 points.

Shanghai Composite Index rose 0.7 percent to 3,029.18 points, while CSI 300 index traded 1.01 percent up at 3,969.49 points.



Commodities Recap

Crude Oil prices steadied, boosted by moves to ease trade tensions between Washington and Beijing and a decline in U.S. crude inventories to the lowest in nearly a year. International benchmark Brent crude was trading 0.3 percent higher at $61.25 per barrel by 0508 GMT, having hit a high of $63.74 on Tuesday, its highest since August 1. U.S. West Texas Intermediate was trading 0.6 percent up at $56.26 a barrel, after rising as high as $58.74 on Tuesday, its highest since July 31.

Gold prices eased as hopes for a thaw in the U.S.-China trade tensions boosted risk appetite, while some investors booked profits ahead of a meeting by the European Central Bank. Spot gold declined 0.1 percent to $1,495.34 per ounce by 0514 GMT, having touched a low of $1,483.22 earlier, its lowest since August 13. U.S. gold futures fell 0.1 percent to $1,501.70 per ounce



Treasuries Recap

The Japanese government bond prices were little changed amid rising hopes of easing U.S.-China tensions. The Benchmark 10-year JGB futures rose 0.11 points to 154.65. The 10-year JGB yield fell 0.5 basis points to minus 0.215 percent, off 1-month high of minus 0.200 percent. The two-year JGB yield fell 0.5 basis points to minus 0.285 percent, while the five-year yield fell 1 basis points to minus 0.305 percent, reversing earlier rise to -0.280 percent. The 20-year JGB yield fell 0.5 basis points to 0.150 percent. The 30-year JGB yield was flat at 0.285 percent while the 40-year JGB yield rose 0.5 basis point to 0.320 percent.









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#562

Post by B0N3 » Fri Sep 13, 2019 8:08 pm

Asia Roundup:
Antipodeans surge on trade optimism, euro advances after ECB cuts key rate and approves restarting bond purchases, Asian shares rally –
Friday, September 13th, 2019






Market Roundup

Dollar consolidates as caution prevails ahead of Fed, BOJ

Gold eases as trade hopes boost risk appetite



Economic Data Ahead

(0500 ET/0900 GMT) EZ trade balance s.a. July

(0500 ET/0900 GMT) EZ trade balance n.s.a. July



Key Events Ahead

(0300 ET/0700 GMT) EZ EcoFin Meeting



FX Beat

DXY: The dollar index consolidated within narrow ranges as financial markets fully priced in a rate cut at the Federal Reserve’s September 17-18 policy meeting. The greenback against a basket of currencies traded flat at 98.28, having touched a low of 97.86 on Wednesday, its lowest since August 2

EUR/USD: The euro rose, extending previous session gains, following the European Central Bank’s surprise decision to resume government debt purchases from November to support a flagging economy. On Thursday, the ECB approved a fresh stimulus package as expected, cutting its deposit rate to a record low -0.5 percent from -0.4 percent and will restart bond purchases of 20 billion euros a month from November to support eurozone growth. The European currency traded 0.1 percent at 1.1070 in the prior session, having touched a high of 1.1087 on Thursday, its highest since August 29. Investors’ attention will remain on a series of data out from the Eurozone economies and EZ trade balance, ahead of the U.S. retail sales, import and export price index and business inventories. Immediate resistance is located at 1.1098 (August 28 High), a break above targets 1.1153 (August 23 High). On the downside, support is seen at 1.1037 (5-DMA), a break below could drag it below 1.0963 (August 30 High).

USD/JPY: The dollar rallied to a fresh 1-1/2 month peak as optimism about a resolution to the U.S.-China trade war continued to push Treasury yields higher. However, the upside appears limited as the U.S. Federal Reserve is widely expected to cut interest rates next week. The major was trading 0.1 percent up at 108.20, having hit a high of 108.25 earlier, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, import and export price index and business inventories. Immediate resistance is located at 108.37 (July 16 High), a break above targets 108.75 (July 25 High). On the downside, support is seen at 107.51 (5-DMA), a break below could take it lower at 106.92 (10-DMA).

GBP/USD: Sterling advanced, hovering towards a 6-week high hit earlier in the week as investors weighed up Britain's chances of securing a divorce deal with the European Union ahead of its scheduled departure from the bloc on October 31. The major traded 0.2 percent down at 1.2349, having hit a high of 1.2384 on Monday, it’s highest since July 26. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2384 (September 9 High), a break above could take it near 1.2456 (July 17 High). On the downside, support is seen at 1.2279 (September 6 Low), a break below targets 1.2252 (10-DMA). Against the euro, the pound was trading flat at 89.65 pence, having hit a high of 88.85 on Thursday, it’s highest since June 21.

AUD/USD:The Australian dollar steadied after rising to a 1-1/2 month peak in the previous session, as China's rate cut eased pressure on the Reserve Bank of Australia to do more, while the fading U.S.-China trade tensions boosted risk-appetite. The Aussie trades traded 0.1 percent up at 0.6873, having hit a high of 0.6894 on Thursday, it’s highest since July 31. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6848 (September 10 Low), a break below targets 0.6807 (September 6 Low). On the upside, resistance is located at 0.6916 (July 31 High), a break above could take it near 0.6955 (July 26 High).

NZD/USD: The New Zealand dollar rose, halting a 2-day losing streak on signs the United States and China were narrowing their differences over trade. The Kiwi trades 0.05 percent up at 0.6407, having touched a low of 0.6397 earlier, its lowest level since September 6. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6429 (August 20 High), a break above could take it near 0.6471 (August 13 High). On the downside, support is seen at 0.6381 (21-DMA), a break below could drag it below 0.6325 (September 4 Low).



Equities Recap

Asian shares
surged as hints of progress in U.S.-China trade talks and aggressive stimulus from the ECB eased worries about a global economic slowdown.

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

Tokyo's Nikkei rose 1.1 percent to 22,004.61 points, Australia's S&P/ASX 200 index rallied 0.2 percent to 6,669.20 points.

Hong Kong’s Hang Seng traded 0.5 percent higher at 27,224.00 points.




Commodities Recap

Crude Oil prices declined as optimism over an end to the U.S.-China trade war faded, leaving prices set for a weekly loss. International benchmark Brent crude was trading 0.3 percent lower at $60.17 per barrel by 0435 GMT, having hit a low of $58.89 on Thursday, its lowest since September 4. U.S. West Texas Intermediate was trading 0.3 percent down at $54.83 a barrel, after falling as low as $55.94 on Thursday, its lowest since September 4.

Gold prices edged lower as improved risk appetite amid signs of a thaw in the U.S.-China trade war drew investors away from the safe-haven metal. Spot gold fell 0.1 percent to $1,497.25 per ounce by 0502 GMT, having touched a low of $1,483.22 on Wednesday, its lowest since August 13 and was down about 0.6 percent this week, putting it on course for its third straight weekly drop. U.S. gold futures dipped 0.2 percent to $1,504.40 per ounce.



Treasuries Recap

The Japanese government bond yields jumped across the curve, with the key 10-year yield hitting the highest level in six weeks. The 10-year JGB yield climbed 5 basis points to minus 0.165 percent, its highest since Aug. 1. In the super long zone, the 20-year yield rose 4.5 bps to 0.200 percent, while the 30-year and the 40-year yields jumped 5 bps each to six-week highs of 0.340 percent and 0.370 percent, respectively. Benchmark 10-year JGB futures fell 0.57 point to 154.07.








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#563

Post by B0N3 » Tue Sep 17, 2019 5:58 pm

Asia Roundup:
Antipodeans decline on downbeat Chinese new home prices, greenback gains ahead of Fed policy meeting, Asian shares tumble –
Tuesday, September 17th, 2019






Market Roundup

Oil prices still elevated after attacks on Saudi facilities

Gold steady as investors await Fed outlook

China's home price growth at weakest in nearly a year



Economic Data Ahead

(0500 ET/0900 GMT) Germany ZEW Survey- Economic Sentiment September

(0500 ET/0900 GMT) Germany ZEW Survey- Current Situation September

(0500 ET/0900 GMT) Eurozone ZEW Survey- Economic Sentiment September



Key Events Ahead

No significant events scheduled



FX Beat

DXY: The dollar index rose as investors widely expect a quarter-point rate cut when the Fed issues its next policy statement later on Wednesday, which would be the central bank’s second such cut after lowering rates in July for the first time since 2008. The greenback against a basket of currencies traded 0.1 percent up at 98.73, having touched a low of 97.86 on Friday, its lowest since August 26.

EUR/USD: The euro steadied above the 1.1000 handle after easing in the previous session on doubts over whether the European Central Bank’s new stimulus measures can boost a sluggish economy. The European currency traded 0.1 percent up at 1.1012, having touched a high of 1.1084 on Thursday, its highest since August 29. Investors’ attention will remain on German ZEW Survey and Eurozone Economic Sentiment, ahead of the U.S. capacity utilization, industrial production and NAHB housing market index. Immediate resistance is located at 1.1050 (21-DMA), a break above targets 1.1116 (August 27 High). On the downside, support is seen at 1.0963 (August 30 High), a break below could drag it below 1.0925 (September 3 High).

USD/JPY: The dollar rose to a 1-1/2 month peak, ahead of the Federal Reserve's policy meeting, where it is expected to cut interest rates by 0.25 percentage point. The BoJ will also hold its regular policy meeting, where it is likely to keep policy on hold and prepare to lower short-term rates further into negative territory in the coming months. The major was trading 0.1 percent up at 108.02, having hit a high of 108.37 earlier, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. capacity utilization, industrial production and NAHB housing market index. Immediate resistance is located at 108.53 (July 1 High), a break above targets 108.99 (July 10 High). On the downside, support is seen at 107.29 (10-DMA), a break below could take it lower at 106.71 (21-DMA).

GBP/USD: Sterling eased, extending previous session losses after British Prime Minister Boris Johnson following a meeting with European Commission President Jean-Claude Juncker in Luxembourg stated that a Brexit deal is not yet secured. The major traded 0.1 percent down at 1.2411, having hit a high of 1.2504 on Friday, it’s highest since July 25. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2481 (July 23 High), a break above could take it near 1.2522 (July 24 High). On the downside, support is seen at 1.2322 (10-DMA), a break below targets 1.2251 (21-DMA). Against the euro, the pound was trading 0.2 percent down at 88.61 pence, having hit a high of 88.48 earlier, it’s highest since June 6.

AUD/USD: The Australian dollar plunged to an 11-day low after data showed China’s new home prices grew at their weakest pace in nearly a year in August as a cooling economy and existing curbs on speculative buying dented the overall demand. The Aussie trades traded 0.5 percent down at 0.6830, having hit a low of 0.6831 earlier, it’s lowest since September 6. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6820, a break below targets 0.6807 (September 6 Low). On the upside, resistance is located at 0.6916 (July 31 High), a break above could take it near 0.6955 (July 26 High).

NZD/USD: The New Zealand dollar tumbled to a 2-week low as Chinese regulators vowed to refrain from stimulating the real estate sector. China's average new home prices in 70 major cities rose 8.8 percent in August from a year earlier, compared with a 9.7 percent gain in July and the weakest pace since October 2018. The Kiwi trades 0.2 percent down at 0.6330, having touched a low of 0.6324 earlier, its lowest level since September 3. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6387 (10-DMA), a break above could take it near 0.6429 (August 20 High). On the downside, support is seen at 0.6304 (August 29 Low), a break below could drag it below 0.6269 (Sept. 3 Low).



Equities Recap

Asian shares
eased after data showed China's home price grew at weakest in nearly a year, while the threat of military action over the attacks on Saudi oil facilities dented investor risk appetite.

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

Tokyo's Nikkei rose 0.05 percent to 22,001.32 points, Australia's S&P/ASX 200 index rallied 0.3 percent to 6,695.30 points and South Korea's KOSPI surged 0.05 percent to 2,062.33 points.

Hong Kong’s Hang Seng raded 1.4 percent lower at 26,734.90 points. Taiwan shares shed 0.2 percent to 10,874.50 points.

Shanghai Composite Index raded 1.4 percent lower at 26,734.90 points. Taiwan shares shed 0.2 percent to 10,874.50 points.



Commodities Recap

Crude Oil steadied after rising by more than 10 percent in the previous session after an attack on Saudi Arabian crude facilities cut the kingdom’s production in half and fanned fears of retaliation in the Middle East. International benchmark Brent crude was trading 0.5 percent higher at $68.39 per barrel by 0506 GMT, having hit a high of $69.64 on Monday, its highest since May 30. U.S. West Texas Intermediate was trading 0.4 percent up at $62.06 a barrel, after rising as high as $63.33 on Monday, its highest since May 21.

Gold prices steadied as most traders stayed on the sidelines ahead of a widely expected rate cut by the U.S. Federal Reserve later this week. Spot gold was trading flat at $1,498.05 per ounce by 0516 GMT, having touched a low of $1,483.22 last week, its lowest since August 13. U.S. gold futures were down 0.4 percent at $1,505.4 per ounce.



Treasuries Recap

The Australian government bonds jumped during Asian trading session after the release of the Reserve Bank of Australia’s (RBA) September monetary policy meeting minutes, while investors keep a close eye on the country’s employment report for the month of August, scheduled to be released today by 01:30GMT for further direction in the debt market. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged 6 basis points to 1.135 percent, the yield on the long-term 30-year bond also slumped nearly 6 basis points to 1.715 percent and the yield on short-term 2-year suffered nearly 4 basis points to 0.887 percent.

The Japanese government bonds closed nearly flat ahead of the Federal Reserve and Bank of Japan’s (BoJ) monetary policy meetings, scheduled for later this week amid an otherwise muted trading session that witnessed data of little economic significance. At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, edged tad up to -0.152 percent, the yield on the long-term 30-year hovered around 0.346 percent and the yield on short-term 2-year also gained slightly to -0.240 percent.








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#564

Post by B0N3 » Sat Sep 21, 2019 12:49 am

Asia Roundup:
Kiwi at 2-1/2 week trough ahead of RBNZ policy decision, yen gains as investors turn cautious amid U.S.-China trade talks, Asian shares rally – Friday, September 20th, 2019





Market Roundup

Euro higher after hawkish central bank shift

Sterling rallies on Brexit deal hopes

Gold up poised for first weekly gain in four

Oil prices set for its biggest weekly gain in months



Economic Data Ahead

No Significant Event Scheduled



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index eased, extending previous session losses, after the Federal Reserve on Wednesday cut interest rates by 25 basis points to counter risks including weak global growth and resurgent trade tensions, while signaling a higher bar to further reductions in borrowing costs. The greenback against a basket of currencies traded 0.2 percent down at 98.21, having touched a low of 97.19 earlier, its lowest since August 16.

EUR/USD: The euro rose, extending previous session gains as the greenback eased after the Fed had cut interest rates for the second time this year on Wednesday to help sustain economic expansion but gave mixed signals on future rate cuts. t. The European currency traded 0.1 percent up at 1.1056, having touched a high of 1.1109 last week, its highest since August 27. Investors’ attention will remain on the Eurozone preliminary consumer confidence index, ahead of Fed officials' speeches. Immediate resistance is located at 1.1084 (September 5 High), a break above targets 1.1109 (September 13 High). On the downside, support is seen at 1.1015 (September 9 Low), a break below could drag it below 1.0963 (August 30 High).

USD/JPY: The dollar declined as investors turned cautious as central banks in Switzerland and the UK refrained from cutting rates and caution about developments in U.S.-China trade talks. On Thursday, U.S. and Chinese deputy trade negotiators resumed talks for the first time in nearly two months, trying to lay the groundwork for high-level talks in early October. The major was trading 0.1 percent down at 107.85, having hit a high of 108.47 on Thursday, its highest since August 1. Investors’ will continue to track the broad-based market sentiment, ahead of Fed officials' speeches. Immediate resistance is located at 108.63 (July 5 High), a break above targets 108.99 (July 10 High). On the downside, support is seen at 107.52 (September 12 Low), a break below could take it lower at 106.96 (21-DMA).

GBP/USD: Sterling rallied to a 2-month peak after European Commission President Jean-Claude Juncker said he thought Brussels could reach a deal with Britain to leave the European Union and that if the Irish border backstop which the British government wants to be removed could be replaced with alternatives, it would not be needed. The major traded 0.4 percent up at 1.2564, having hit a high of 1.2582 earlier, it’s highest since July 25. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2605 (June 17 High), a break above could take it near 1.2644 (May 31 High). On the downside, support is seen at 1.2480 (5-DMA), a break below targets 1.2404 (10-DMA). Against the euro, the pound was trading 0.3 percent up at 87.90 pence, having hit a high of 87.86 earlier, it’s highest since May 22.

AUD/USD:The Australia dollar rebounded from a 2-1/2 week low as investors are focused on U.S.-China trade talks in Washington, aimed at laying the groundwork for high-level discussions next month. The Aussie traded 0.2 percent up at 0.6805, having hit a low of 0.6778 earlier, it’s lowest since September 4. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6770 (August 16 Low), a break below targets 0.6735 (September 14 Low). On the upside, resistance is located at 0.6861 (July 31 High), a break above could take it near 0.6916 (September 6 High).

NZD/USD: The New Zealand dollar plunged to a 2-1/2 week trough as investor eye Reserve Bank of New Zealand's policy meeting next week, where it is expected to keep the official cash rate at the record low of 1.00 percent, but may keep the door open to implement lower interest rates. The Kiwi trades lower at 0.6299, having touched a low of 0.6285 earlier, its lowest level since September 3. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6338 (5-DMA), a break above could take it near 0.6362 (21-DMA). On the downside, support is seen at 0.6269 (September 3 Low), a break below could drag it below 0.6235.



Equities Recap

Asian shares
rallied as economic stimulus around the world eased fears over slowing growth.

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

Tokyo's Nikkei gained 0.2 percent to 22,079.09 points, Australia's S&P/ASX 200 index rallied 0.2 percent to 6,730.80 points and South Korea's KOSPI surged 0.5 percent to 2,091.53 points.

Hong Kong’s Hang Seng traded 0.05 percent higher at 26,466.55 points. Taiwan shares added 0.3 percent to 10,929.69 points.

Shanghai Composite Index rose 0.2 percent to 3,005.09 points, while CSI 300 index traded 0.2 percent up at 3,931.40 points.



Commodities Recap

Crude Oil Crude oil prices steadied and were on track for a more-than-7 percent jump this week, their biggest in months, amid fresh tensions in the Middle East after a key Saudi Arabian supply facility was knocked out in an attack last weekend. International benchmark Brent crude was trading flat at $64.60 per barrel by 0442 GMT, having hit a high of $69.64 on Monday, its highest since May 30. U.S. West Texas Intermediate was trading 0.2 percent up at $58.69 a barrel, after rising as high as $63.33 on Monday, its highest since May 21.

Gold prices edged higher and were set for their first weekly gain in one month, supported by a softer dollar and caution about developments in the U.S.-China trade talks. Spot gold was trading 0.4 percent up at $1,504.65 per ounce by 0445 GMT, having touched a low of $1,483.06 on Wednesday, its lowest since August 13 but was on track for its first weekly gain in four, having risen nearly 1 percent so far this week. U.S. gold futures were up 0.3 percent at $1,510.9 per ounce.



Treasuries Recap

The Japanese government bond yields at the long end of the curve rose after the Bank of Japan said it will reduce slightly the amount of debt it purchases for its quantitative easing. The benchmark 10-year JGB futures fell 0.01 point to 154.76. The 10-year JGB yield rose 0.5 basis point to minus 0.225 percent. The 20-year JGB yield rose 1.5 basis points to 0.180 percent. The 30-year JGB yield increased 3 bps to 0.345 percent. The 40-year JGB yield rose 5.5 bps to 0.405 percent. At the short end of the curve, the two-year JGB yield fell 0.5 basis point to minus 0.310 percent.

The Australian government bonds rallied during Asian session of the last trading day of the week amid a muted session that witnessed data of little economic significance. However, the Federal Reserve’s 25bp rate cut on Wednesday added to decline in yields, which investors are wary of neglecting in the wake of ongoing global geopolitical tensions. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged 3 basis points to 1.058 percent, the yield on the long-term 30-year bond suffered nearly 2 basis points to 1.636 percent and the yield on short-term 2-year suffered nearly 1-1/2 basis points to 0.779 percent.









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