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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#565

Post by B0N3 » Mon Sep 23, 2019 7:42 pm

Asia Roundup:
Kiwi off 4-years low on U.S-China trade optimism, oil rallies amid prevailing Middle East tensions, investors eye EZ Markit PMI's –
Monday, September 23rd, 2019






Market Roundup

Gold prices edge lower

Oil gains on Saudi supply disruption

Kiwi at 4-year low as political tensions prevail



Economic Data Ahead

(0315 ET/0715 GMT) France Markit Mfg Flash PMI

(0315 ET/0715 GMT) France Markit Service Flash PMI

(0315 ET/0715 GMT) France Markit Comp Flash PMI

(0330 ET/0730 GMT) Germany Markit Mfg Flash PMI

(0330 ET/0730 GMT) Germany Markit Service Flash PMI

(0330 ET/0730 GMT) Germany Markit Comp Flash PMI

(0400 ET/0800 GMT) Euro Zone Markit Mfg Flash PMI

(0400 ET/0800 GMT) Euro Zone Markit Service Flash PMI

(0400 ET/0800 GMT) Euro Zone Markit Comp Flash PMI



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index rallied after the United States removed tariffs from more than 400 Chinese products in response to requests from U.S. companies. The greenback against a basket of currencies traded 0.1 percent up at 98.54, having touched a high of 98.14 on Friday, its lowest since August 16.

EUR/USD: The euro steadied after tumbling in the previous session, as investors awaited Eurozone preliminary manufacturing and service purchasing manager indices (PMI) for further clues on the strength of the economy. The European currency traded flat at 1.1023, having touched a high of 1.1109 earlier in the week, its highest since August 27. Investors’ attention will remain on the Eurozone preliminary Markit manufacturing, service and composite PMI's and ECB President Draghi's speech, ahead of the U.S. Markit flash PMI's and New York Fed President John Williams speech. 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 1.0996 (September 20 Low), a break below could drag it below 1.0963 (August 30 High).

USD/JPY: The dollar surged, reversing most of its previous session losses, as investor’s risk appetite improved after talks in Washington between U.S. and Chinese trade deputies were described as productive and constructive, with October’s high-level talks remaining on track. The major was trading 0.2 percent up at 107.73, 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 U.S. Markit flash PMI's and New York Fed President John Williams speech. Immediate resistance is located at 108.04 (5-DMA), a break above targets 108.63 (July 5 High). On the downside, support is seen at 107.44 (September 16 Low), a break below could take it lower at 107.01 (21-DMA).

GBP/USD: Sterling declined, extending prior session losses, after Ireland’s foreign minister said Britain and the European Union were not yet close to a Brexit deal. The major traded 0.2 percent down at 1.2447, having hit a high of 1.2582 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 1.2526 (September 17 High), a break above could take it near 1.2605 (June 17 High). On the downside, support is seen at 1.2392 (September 17 High), a break below targets 1.2312 (21-DMA). Against the euro, the pound was trading 0.2 percent down at 88.50 pence, having hit a high of 88.29 on Friday, it’s highest since May 22.

AUD/USD: The Australian dollar steadied after falling to a 2-1/2 week trough in the previous session after China’s state news agency reported that trade discussions in Washington were constructive and that both the countries will discuss the details of the next round of talks, scheduled for October. The Aussie traded 0.2 percent up at 0.6774, having hit a low of 0.6760 on Friday, 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 0.6753 (September 4 Low), a break below targets 0.6717 (August 29 Low). On the upside, resistance is located at 0.6802 (21-DMA), a break above could take it near 0.6861 (July 31 High).

NZD/USD: The New Zealand dollar rose, halting a 3-day losing streak, ahead of the Reserve Bank of New Zealand’s monetary policy meeting on Wednesday, where it is expected to keep the official cash rate at the record low of 1.00 percent, but keep the door open to cut interest rates. The Kiwi trades 0.1 percent higher at 0.6264, having touched a low of 0.6255 on Friday, its lowest level since September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6315 (5-DMA), a break above could take it near 0.6361 (10-DMA). On the downside, support is seen at 0.6235, a break below could drag it below 0.6200.



Equities Recap

Asian shares
tumbled as investors waited for more clarity on the U.S.-China trade talks after recent negotiations.

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

Australia's S&P/ASX 200 index rose 0.4 percent to 21,392.10 points, Australia's S&P/ASX 200 index eased 0.5 percent to 6,614.10 points and South Korea's KOSPI surged 0.7 percent to 2,032.87 points.

Hong Kong’s Hang Seng traded 0.7 percent lower at 26,311.62 points. Taiwan shares shed 0.1 percent to 10,919.02 points.

Shanghai Composite Index fell 0.9 percent to 2,977.08 points, while CSI 300 index traded 1.1 percent down at 3,890.66 points.



Commodities Recap

Crude Oil prices rose, reversing most of its previous session losses amid concerns about oil supply disruptions from Saudi Arabia and elevated tensions in Middle East. International benchmark Brent crude was trading 0.5 percent up at $64.97 per barrel by 0515 GMT, having hit a high of $69.64 last week, its highest since May 30. U.S. West Texas Intermediate was trading 0.5 percent up at $58.73 a barrel, after rising as high as $63.33 last week, its highest since May 21.

Gold prices declined after rising to a 1-1/2 week peak earlier in the session as risk appetite improved after the U.S. Trade Representative described last week’s U.S.-China trade talks as productive. Spot gold was trading 0.1 percent down at $1,515.32 per ounce by 0518 GMT, having touched a high of $1,519.47 earlier, its highest since September 12. U.S. gold futures were up 0.3 percent at $1,519.8 per ounce.



Treasuries Recap

The Australian government bonds jumped during Asian session of the first trading day of the week Monday amid a muted session that witnessed data of little economic significance ahead of the Reserve Bank of Australia’s (RBA) Governor Philip Lowe’s speech, scheduled to be delivered on September 24 by 09:55GMT amid a wave of global geopolitical tensions. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged 7 basis points to 0.986 percent, the yield on the long-term 30-year bond slumped nearly 6 basis points to 1.580 percent and the yield on short-term 2-year suffered nearly 3 basis points to 0.752 percent.









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#566

Post by B0N3 » Wed Sep 25, 2019 7:10 pm

Asia Roundup:
Kiwi rises to 1-week peak as RBNZ stands pat, dollar consolidates near 2-1/2 week trough as trade talk optimism fades, Asian shares tumble –Wednesday, September 25th, 2019





Market Roundup

U.S. House of Representatives launches a formal impeachment inquiry into Trump

Oil eases after Trump's comments weaken trade talk optimism

U.S. consumer confidence plunges in September



Economic Data Ahead

(0400 ET/0800 GMT) Switzerland ZEW Survey – expectations September

(0600 ET/1000 GMT) UK CBI distributive trades survey – Realized September



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index steadied after tumbling on news that Democrats in the U.S. House of Representatives launched a formal impeachment inquiry into Trump, accusing him of seeking foreign help to smear Democratic rival Joe Biden ahead of next year’s election. The greenback against a basket of currencies traded 0.2 percent up at 98.52, having touched a high of 98.83 on Monday, its highest since September 12.

EUR/USD: The euro declined, reversing most of its previous session gains, as weak eurozone economic data raised concerns the economy was struggling to gain traction despite additional measures of stimulus by the European Central Bank earlier this month. The European currency traded 0.2 percent down at 1.0997 having touched a low of 1.0966 on Monday, its lowest since September 12. Investors’ attention will remain on European Central Bank’s non-monetary policy meeting and ECB executive board member Benoît Cœuré's speech, ahead of the U.S. new home sales data. Immediate resistance is located at 1.1059 (September 10 High), a break above targets 1.1074 (September 17 High). On the downside, support is seen at 1.0963 (August 30 High), a break below could drag it below 1.0927 (September 12 High).

USD/JPY: The dollar steadied after falling to a 2-1/2 week low in the previous session on news that the U.S. lawmakers launched a formal impeachment inquiry into President Donald Trump. On Tuesday, House Speaker Nancy Pelosi announced the House would initiate a formal inquiry, stating that Trump appeared to have undermined national security and violated the U.S. Constitution, following reports Trump sought foreign help to smear Democratic presidential front-runner Joe Biden. The major was trading 0.3 percent up at 107.34, having hit a low of 107.04 on Tuesday, its lowest since September 9. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. new home sales data. Immediate resistance is located at 107.92 (July 1 High), a break above targets 108.53 (July 1 High). On the downside, support is seen at 106.76 (September 6 Low), a break below could take it lower at 106.32 (September 5 Low).

GBP/USD: Sterling eased amid growing uncertainty over a possible general election and the eventual outcome of Britain’s impending exit from the European Union. On Tuesday, the British pound rose after the UK Supreme Court ruled Prime Minister Boris Johnson’s decision to suspend parliament was unlawful. The major traded 0.2 percent down at 1.2465, having hit a high of 1.2526 on Thursday, 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 1.2526 (September 17 High), a break above could take it near 1.2582 (September 20 High). On the downside, support is seen at 1.2412 (September 23 Low), a break below targets 1.2382 (July 17 Low). Against the euro, the pound was trading 0.1 percent down at 88.23 pence, having hit a high of 87.85 on Friday, it’s highest since May 22.

AUD/USD:The Australian dollar tumbled after Trump said Beijing had failed to keep promises it made when China joined the World Trade Organization in 2001 and was engaging in predatory practices that had cost millions of jobs in the United States and other countries. The Aussie trades traded 0.3 percent down at 0.6779, having hit a low of 0.6760 on Friday, 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 0.6753 (September 4 Low), a break below targets 0.6717 (August 29 Low). On the upside, resistance is located at 0.6829 (10-DMA), a break above could take it near 0.6861 (July 31 High).

NZD/USD: The New Zealand dollar surged to a 1-week peak after the Reserve Bank of New Zealand kept interest rates on hold, as widely expected. The country's central bank held the official cash rate at a record-low 1.0 percent, but said there is scope for more fiscal and monetary stimulus to support the economy amid intensifying global trade and demand pressures. The Kiwi trades flat at 0.6323, having touched a low of 0.6255 on Friday, its lowest level since September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6362 (September 18 High), a break above could take it near 0.6398 (August 27 Low). On the downside, support is seen at 0.6297 (5-DMA), a break below could drag it below 0.6235.



Equities Recap

Asian shares
slumped after U.S. lawmakers called for an impeachment inquiry into President Donald Trump, adding to the prospects of prolonged political uncertainty.

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

Tokyo's Nikkei eased 0.4 percent to 22,020.15 points, Australia's S&P/ASX 200 index declined 0.6 percent to 6,710.20 points and South Korea's KOSPI tumbled 1.3 percent to 2,073.39 points.

Hong Kong’s Hang Seng fell 1.0 percent to 2,955.43 points, while CSI 300 index traded 0.8 percent down at 3,870.98 points.

Shanghai Composite Index traded 1.2 percent lower at 25,953.81 points. Taiwan shares shed 0.4 percent to 10,873.01 points.



Commodities Recap

Crude Oil prices steadied after tumbling to a 1-1/2 week low in the previous session on worries about falling fuel demand after U.S. President Donald Trump’s comments doused optimism over China-U.S. trade talks and reignited concerns on global economic growth. International benchmark Brent crude was trading 0.4 percent up at $62.57 per barrel by 0458 GMT, having hit a high of $69.64 last week, its highest since May 30. U.S. West Texas Intermediate was trading 0.3 percent up at $56.67 a barrel, after falling as low as $56.66 on Tuesday, its lowest since September 16.

Gold prices declined after rising to a near 3-week high in the previous session on news that the U.S. lawmakers launched a formal impeachment inquiry into President Donald Trump. Spot gold was trading 0.3 percent down at $1,528.06 per ounce by 0536 GMT, having touched a high of $1,535.58 on Tuesday, its highest since September 5. U.S. gold futures were down 0.1 percent at $1,539.5 per ounce.



Treasuries Recap

The short-dated Japanese government bond yields tumbled on expectations of further interest rate cuts by the Bank of Japan, while long-dated debt yields rose after soft 40-year JGB auction results. The 40-year yield last stood at 0.420 percent, up 2.5 basis points on the day. The yield spread between five- and 40-year yields jumped to 81 basis points, the widest since March, earlier in the session. The key 10-year yield fell 1.5 basis points to minus 0.260 percent and the 20-year yield dropped half a basis point to 0.175 percent, while the 30-year yield rose 1 basis point to 0.355 percent. The benchmark 10-year JGB futures rose 0.31 point to 155.34, its all-time closing high.

The Australian government bonds jumped during Asian session Wednesday tracking a similar movement in the U.S. Treasuries after the Conference Board’s consumer confidence index in the United States for the month of September sagged, amid continuing trade tensions and an otherwise, silent trading session that witnessed data of little economic significance. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged 4 basis points to 0.947 percent, the yield on the long-term 30-year bond slumped nearly 3 basis points to 1.558 percent and the yield on short-term 2-year slipped 1 basis point to 0.746 percent.









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#567

Post by B0N3 » Fri Sep 27, 2019 5:42 pm

Asia Roundup:
Antipodeans consolidate near multi-week lows as China's industrial profits decline, greenback rallies amid trade deal optimism, Asian shares slump – Friday, September 27th, 2019





Market Roundup

Oil prices fall as supply risk premium fades

US-China trade talks to resume on October 10-11

China's August industrial profits fall

Gold set for a weekly loss



Economic Data Ahead

(0500 ET/0900 GMT) Euro Zone Business Climate September

(0500 ET/0900 GMT) Euro Zone Economic Sentiment Indicator September

(0500 ET/0900 GMT) Euro Zone Industrial Confidence September

(0500 ET/0900 GMT) Euro Zone Services Sentiment September

(0500 ET/0900 GMT) Euro Zone Consumer Confidence September



Key Events Ahead

(0315 ET/0715 GMT) European Central Bank Vice President Luis De Guindos' speech



FX Beat

DXY: The dollar index rose, hovering towards a 3-week peak hit in the prior session after China’s top diplomat stated that China was willing to buy more U.S. products and trade talks would yield results if both sides take co-operated to resolve the trade dispute. The greenback against a basket of currencies traded up at 99.23, having touched a high of 99.28 on Thursday, its highest since September 3.

EUR/USD: The euro plunged to a fresh near 2-1/2 year low, as the resignation of Sabine Lautenschlaeger from the European Central Bank’s board amplified doubts around the sustainability of the bank’s stimulus measures. Moreover, concerns about sluggish growth in the bloc and rising fear of recession in Germany further dented the bid tone around the major. The European currency traded flat at 1.0919, having touched a low of 1.0904 earlier, its lowest since May 2017. Investors’ attention will remain on series of data from the Eurozone economies, EZ economic sentiment data and European Central Bank Vice President Luis De Guindos' speech, ahead of the U.S. durable goods, personal consumption expenditures- price index, and Fed officials' speeches Immediate resistance is located at 1.0953 (23.6% retracement of 1.1055 and 1.0904), a break above targets 1.0983 (38.2% retracement). On the downside, support is seen at 1.0885, a break below could drag it below 1.0830.

USD/JPY: The dollar edged lower, halting a 2-day rally as the release of a whistleblower complaint against U.S. President Donald Trump added to uncertainties about the global economy. The major was trading 0.1 percent down at 107.75, having hit a low of 107.04 on Tuesday, its lowest since September 9. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. durable goods, personal consumption expenditures- price index, and Fed officials' speeches. Immediate resistance is located at 108.25 (September 13 High), a break above targets 108.53 (July 1 High). On the downside, support is seen at 107.34 (21-DMA), a break below could take it near at 106.76 (September 6 Low).

GBP/USD: Sterling steadied after tumbling to a 2-week low in the previous session after the European Union’s Brexit negotiator said Britain had yet to provide legal and operational proposals for an agreement on exiting the bloc. The major traded 0.1 percent up at 1.2328, having hit a low of 1.2302 on Thursday, it’s lowest since July 12. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2408 (5-DMA), a break above could take it near 1.2490 (September 23 High). On the downside, support is seen at 1.23282 (September 12 Low), a break below targets 1.2233 (September 9 Low). Against the euro, the pound was trading 0.1 percent up at 88.49 pence, having hit a high of 87.85 last week, it’s highest since May 22.

AUD/USD:The Australian dollar steadied near 3-week low hit earlier in the week amid renewed hopes that next month’s U.S.-China trade talks will bring progress. However, the upside appears limited after Chinese data showed industrial profits fell 2 percent in August from a year earlier to 517.8 billion yuan as weak domestic demand weighed on corporate balance sheets. The Aussie trades traded 0.1 percent up at 0.6757, having hit a low of 0.6739 on Wednesday, it’s lowest since September 3. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6732 (August 28 Low), a break below targets 0.6706 (August 30 Low). On the upside, resistance is located at 0.6781 (September 23 High), a break above could take it near 0.6805 (21-DMA).

NZD/USD: The New Zealand dollar eased after the ANZ Consumer Confidence for September dropped to a 4-year low, down 3.6 percent m/m to 113.9, adding to the country’s worsening economic picture. The Kiwi trades 0.05 percent down at 0.6290, having touched a high of 0.6348 on Wednesday, its highest level since September 18. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6362 (September 18 High), a break above could take it near 0.6398 (August 27 Low). On the downside, support is seen at 0.6255, a break below could drag it below 0.6210.


Equities Recap

Asian shares
slumped as political uncertainties in the United States and concerns over the global economy dented investor risk sentiment.

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

Tokyo's Nikkei fell 0.8 percent to 21,878.90 points, Australia's S&P/ASX 200 index gained 0.6 percent to 6,716.10 points and South Korea's KOSPI plunged 1.2 percent to 2,049.93 points.

Hong Kong’s Hang Seng traded 0.3 percent lower at 25,973.72 points. Taiwan shares shed 0.4 percent to 10,829.68 points.

Shanghai Composite Index rose 0.05 percent to 2,930.05 points, while CSI 300 index traded 0.2 percent up at 3,849.40 points.



Commodities Recap

Crude Oil prices declined, erasing more of the gains realized after the Sept. 14 attacks on Saudi Arabian oil facilities. International benchmark Brent crude was trading 0.7 percent down at $62.14 per barrel by 0502 GMT, having hit a low of $61.21 on Wednesday, its lowest since September 16. U.S. West Texas Intermediate was trading 0.7 percent lower at $56.08 a barrel, after falling as low as $55.40 on Thursday, its lowest since September 16.

Gold traded surged but was poised to end the week lower, amid political uncertainties in the United States. Spot gold was trading 0.2 percent at $1,506.70 per ounce by 0506 GMT, having touched a low of $1,500.34 on Wednesday, its lowest since September 20 and was down 0.7 percent for the week, after rising about 2 percent last week. U.S. gold futures were 0.2 percent lower at $1,512.6 per ounce.



Treasuries Recap

The short-dated Japanese government bond yields held steady as investors waited for a Bank of Japan decision on bond purchases. The benchmark 10-year JGB futures rose 0.1 point to 155.33. The 10-year JGB yield was flat at minus 0.250 percent. At the short end of the curve, the two-year JGB yield was flat at minus 0.330 percent. In the middle of the curve, the five-year yield was flat at minus 0.370 percent. The 20-year JGB yield fell 1.5 bps to 0.155 percent. The 30-year JGB yield fell 3 bps to 0.305 percent, while the 40-year JGB yield declined 3 bps to 0.370 percent.

The Australian government bonds jumped during Asian session of the last trading day of the week Friday tracking a similar movement in the U.S. Treasuries after President Donald Trump faced accusation from a congressional panel on charges of pressing a foreign government to investigate a potential rival at next year's presidential election. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slumped 2 basis points to 0.950 percent, the yield on the long-term 30-year bond also suffered nearly 2 basis points to 1.557 percent and the yield on short-term 2-year slipped 1 basis point to trade at 0.740 percent.









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#568

Post by B0N3 » Wed Oct 02, 2019 7:31 pm

Asia Roundup:
Antipodeans consolidate near multi-year lows on monetary easing concerns, greenback declines as weak U.S. data reinforce economic slowdown fears, Asian shares tumble –
Wednesday, October 2nd, 2019






Market Roundup

Oil recovers on U.S. crude stock build

Gold inches up on weak U.S. data

ECB's Draghi calls for eurozone stimulus to boost investment



Economic Data Ahead

No major economic data releases



Key Events Ahead

No Significant Event Scheduled



FX Beat

DXY: The dollar index nudged up after falling from an over 2-year peak hit in the previous session on worries about a slowing U.S. economy and the possibility of further interest rate cuts in the wake of weak U.S. manufacturing data. The greenback against a basket of currencies traded 0.1 percent up at 99.24, having touched a high of 99.67 on Tuesday, its highest since May 2017.

EUR/USD: The euro steadied after falling to near 2-1/2 year lows in the previous session on data that showed Eurozone inflation slowed in September to near a 3-year low because of cheaper energy, highlighting the challenges facing the European Central Bank. The European currency traded flat at 1.0932, having touched a low of 1.0879 the day before, its lowest since May 2017. Investors’ attention will remain on data out from the Eurozone economies, ahead of the U.S. ADP employment change and Fed Williams' speech. Immediate resistance is located at 1.0966 (38.2% retracement of 1.1109 and 1.0879), a break above targets 1.0994 (50% retracement). On the downside, support is seen at 1.0865, a break below could drag it below 1.0830.

USD/JPY: The dollar consolidated near previous session lows, as investors sentiment weakened after data released overnight showed the U.S. manufacturing sector contracted in September to its weakest level in more than a decade. The Institute for Supply Management stated that its index of U.S. factory activity declined to 47.8, the lowest reading since June 2009, indicating the domestic factory sector is contracting. The major was trading 0.1 percent up at 107.84, having hit a high of 108.46 on Tuesday, its highest since September 19. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. ADP employment change and Fed Williams' speech. Immediate resistance is located at 108.25 (September 13 High), a break above targets 108.47 (September 19 Low). On the downside, support is seen at 107.42 (September 26 Low), a break below could take it near at 107.18 (September 10 Low).

GBP/USD: Sterling declined, reversing most of its previous session gains as investors remained cautious ahead of Prime Minister Boris Johnson unveiling his final Brexit offer to the European Union and make clear that Britain intends to leave the European Union on October 31. The major traded 0.3 percent down at 1.2263, having hit a low of 1.2204 on Tuesday, it’s lowest since September 4. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2362 (21-DMA), a break above could take it near 1.2400. On the downside, support is seen at 1.2233 (September 9 Low), a break below targets 1.2210 (September 5 Low). Against the euro, the pound was trading 0.4 percent down at 89.13 pence, having hit a low of 89.36 the day before, it’s lowest since Sept. 13.

AUD/USD:The Australian dollar edged higher from its lowest level in a decade as the greenback declined on worries about a slowing U.S. economy and the possibility of further interest rate cuts. The Aussie trades 0.1 percent up at 0.6709, having hit a low of 0.6617 on Tuesday, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6687, a break below targets 0.6635. On the upside, resistance is located at 0.6742 (5-DMA), a break above could take it near 0.6799 (August 21 High).

NZD/USD: The New Zealand dollar consolidated near multi-year lows as yesterday's downbeat business confidence data bolstered expectations for monetary easing. The Kiwi trades flat at 0.6243, having touched a low of 0.6203 on Tuesday, its lowest level since September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6299 (September 23 High), a break above could take it near 0.6362 (September 18 High). On the downside, support is seen at 0.6221, a break below could drag it below 0.6205.



Equities Recap

Asian shares
plunged, weighed down by weak economic data in the United States and Europe.

Tokyo's Nikkei fell 0.5 percent to 21,778.61 points, Australia's S&P/ASX 200 index slumped 1.6 percent to 6,639.90 points.

Hong Kong’s Hang Seng traded 0.2 percent lower at 26,049.41 points.



Commodities Recap

Crude Oil prices rebounded from a near 1-month low after industry data showed a surprise decline in U.S. crude inventories. On Tuesday, American Petroleum Institute (API) data showed U.S. crude stocks fell last week by 5.9 million barrels, against expectations for an increase of 1.6 million barrels. International benchmark Brent crude was trading 0.2 percent up at $59.30 per barrel by 0430 GMT, having hit a low of $58.37 the day before, its lowest since September 12. U.S. West Texas Intermediate was trading 0.6 percent higher at $54.23 a barrel, after falling as low as $53.02 on Tuesday, its lowest since September 3.

Gold prices eased after rising as much as 1 percent in the previous session, as downbeat U.S. manufacturing data stoked fears of a sharp global economic slowdown and fanned bets of further interest rate cuts. Spot gold was trading 0.2 percent down at $1,476.33 per ounce by 0434 GMT, having touched a low of $1,458.97 on Tuesday, its lowest since August 6. U.S. gold futures were down 0.2 percent at $1,485.4 an ounce.



Treasuries Recap

The Japanese government bond prices rallied after manufacturing activity in the United States shrank to its lowest in more than a decade. The benchmark 10-year JGB futures rose 0.36 point to 154.50. The 10-year JGB yield fell 2.5 basis points to minus 0.165 percent, pulling back from a more than two-month high reached on Tuesday. The 20-year JGB yield fell 2 basis points to 0.225 percent, while the 30-year JGB yield fell 1 basis point to 0.395 percent. The five-year yield fell 2.5 basis points to minus 0.320 percent. At the short end of the curve, two-year JGB yields fell 0.5 basis point to minus 0.300 percent, retreating from a two-week high set on Tuesday.









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#569

Post by B0N3 » Thu Oct 03, 2019 8:04 pm

Asia Roundup:
Aussie treads water amid further monetary easing concerns, dollar at 1-week low against yen as weak U.S. data fuels global slowdown worries, Asian shares plunge to 1-month trough –
Thursday, October 3rd, 2019






Market Roundup

U.S. tariffs on EU fan growth worries

Gold rises amid global slowdown worries

Oil price ease on growing inventories

Australia Trade Balance misses surplus expectations

ANZ World Commodity Price Index unchanged in September



Economic Data Ahead

(0345 ET/0745 GMT) Italy Markit/IHS Svcs PMI

(0345 ET/0745 GMT) Italy Composite PMI

(0350 ET/0750 GMT) France Markit Serv PMI

(0350 ET/0750 GMT) France Markit Comp PMI

(0355 ET/0755 GMT) Germany Markit Services PMI

(0355 ET/0755 GMT) Germany Markit Comp Final PMI

(0400 ET/0800 GMT) Euro Zone Markit Serv Final PMI

(0400 ET/0800 GMT) Euro Zone Markit Comp Final PMI

(0430 ET/0830 GMT) United Kingdom Markit/CIPS Serv PMI

(0430 ET/0830 GMT) United Kingdom Composite PMI

(0500 ET/0900 GMT) EZ Retail Sales YY

(0500 ET/0900 GMT) Euro Zone Producer Prices MM

(0500 ET/0900 GMT) Euro Zone Producer Prices YY



Key Events Ahead

(0345 ET/0745 GMT) Federal Reserve Bank of Chicago President Charles L. Evans' speech



FX Beat

DXY: The dollar index eased, weighed down by signs of a slowdown in U.S. economic growth and a deepening of global trade tensions. The yields on two-year U.S. Treasury yields declined as downbeat data on manufacturing and the jobs market suggested the trade war with China has damaged the U.S. economy. The greenback against a basket of currencies traded 0.05 percent down at 99.01, having touched a high of 99.67 on Tuesday, its highest since May 2017.

EUR/USD: The euro consolidated within narrow ranges amid concern that the European Central Bank is running out of room to manoeuvre in the face of a weakening economy. The European currency traded flat at 1.0957 having touched a low of 1.0897 on Tuesday, its lowest since May 2017. Investors’ attention will remain on a series of data out from the Eurozone economies and EZ producer price index, retail sales and Markit Service and Composite PMI's, ahead of the U.S. unemployment benefit claims, factory orders, non-manufacturing PMI by Markit and ISM and Fed officials' speech. Immediate resistance is located at 1.0994 (50% retracement of 1.1109 and 1.0879), a break above targets 1.1021 (61.8% retracement). On the downside, support is seen at 1.0929 (5-DMA), a break below could drag it below 1.0904.

USD/JPY: The dollar eased to a 1-week low after data showed hiring by U.S. private employers had slowed in September, indicating that the U.S.-China trade dispute which have pressured manufacturing, could be spilling over to the labor market. Moreover, news that the United States opened a new trade war front by saying it will impose tariffs on $7.5 billion of goods from the European Union further undermined investor sentiment. The major was trading down at 107.15, having hit a low of 106.96 earlier, its lowest since September 24. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims, factory orders, non-manufacturing PMI by Markit and ISM and Fed officials' speech. Immediate resistance is located at 107.75 (5-DMA), a break above targets 108.25 (September 13 High). On the downside, support is seen at 106.76 (September 9 Low), a break below could take it near at 106.25 (August 22 Low).

GBP/USD: Sterling consolidated within thin ranges as British Prime Minister Boris Johnson proposed an all-island regulatory zone in Ireland in his final proposal for a Brexit deal before the end of the month. The major traded flat at 1.2295, having hit a low of 1.2204 on Tuesday, it’s lowest since September 4. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2373 (10-DMA), a break above could take it near 1.2400. On the downside, support is seen at 1.2233 (September 9 Low), a break below targets 1.2210 (September 5 Low). Against the euro, the pound was trading 0.1 percent down at 89.11 pence, having hit a low of 89.36 on Tuesday, it’s lowest since Sept. 13.

AUD/USD:The Australian dollar steadied after tumbling to its lowest level in a decade in the previous session on fears that the Reserve Bank of Australia could be forced into unconventional policy measures to save the economy from stagnation if it’s latest round of interest rates cuts fail to stimulate growth. The RBA warned that there could be more cuts to come as it pursues to reduce unemployment and keep inflation between 2 percent and 3 percent. The Aussie trades 0.2 percent up at 0.6717, having hit a low of 0.6670 on Wednesday, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6687, a break below targets 0.6635. On the upside, resistance is located at 0.6754 (10-DMA), a break above could take it near 0.6799 (August 21 High).

NZD/USD: The New Zealand dollar treads water after data showed the ANZ World Commodity Price Index was unchanged in September. The Kiwi trades flat at 0.6267, having touched a low of 0.6203 on Tuesday, its lowest level since September 2015. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6299 (September 23 High), a break above could take it near 0.6362 (September 18 High). On the downside, support is seen at 0.6221, a break below could drag it below 0.6205.



Equities Recap

Asian shares
plunged to a 1-month low after the United States opened a new trade war front by saying it will impose tariffs on $7.5 billion of goods from the European Union.

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

Tokyo's Nikkei fell 2.1 percent to 21,321.20 points, Australia's S&P/ASX 200 index slumped 2.1 percent to 6,502.20 points and South Korea's KOSPI declined 1.9 percent to 2,031.91 points

Hong Kong’s Hang Seng traded 0.5 percent lower at 25,904.44 points. Taiwan shares shed 0.7 percent to 10,875.91 points.





Commodities Recap

Crude Oil prices steadied after falling to a near 2-month low in the previous session on reports that U.S. crude inventories rose 3.1 million barrels last week, far exceeding expectations for an increase of 1.6 million barrels. International benchmark Brent crude was trading 0.5 percent up at $57.71 per barrel by 0449 GMT, having hit a low of $57.19 the day before, its lowest since August 9. U.S. West Texas Intermediate was trading 0.7 percent higher at $52.40 a barrel, after falling as low as $52.14 on Wednesday, its lowest since August 8.

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



Treasuries Recap

The Japanese government bond prices rose as weak U.S. data disappointed investors and as Washington opened a new front in its trade dispute with Europe by imposing tariffs. The benchmark 10-year JGB futures rose 0.29 point to 154.92. The 10-year cash JGB yield fell 2 basis points to minus 0.190 percent. In the super-long zone, the 40-year yield fell 3 basis points to 0.430 percent and the 30-year yield fell 2.5 basis points to 0.365 percent, while the 20-year yield was flat at 0.225 percent. At the shorter end of the curve, the two-year yield fell 1.5 basis points to minus 0.325 percent and the five-year yield fell 2 basis points to minus 0.350 percent.

The Australian government bonds jumped during Asian session tracking a similar movement in the United States Treasuries amid surging safe-haven demand ahead of the country’s trade balance data for the month of August, scheduled to be released later today for further direction in the debt market. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 3-1/2 basis points to 0.932 percent, the yield on the long-term 30-year bond surged nearly 3 basis points to 1.549 percent and the yield on short-term 2-year remained nearly 1-1/2 basis points higher at 0.654 percent.









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B0N3
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#570

Post by B0N3 » Fri Oct 04, 2019 9:25 pm

Asia Roundup:
Aussie gains on upbeat retail sales, greenback eases as soft U.S. service sector data fans recession worries, Asian shares surge –
Friday, October 4th, 2019






Market Roundup

RBNZ to Issue Final Decisions on Bank Capital in December

Australia Aug retail sales rise

U.S. service sector survey fans recession worries

Oil set for big weekly loss



Economic Data Ahead

(0400 ET/0800 GMT) Italy Public Deficit/GDP Q2



Key Events Ahead

(0725 ET/1125 GMT) Vice-president of the European Central Bank Luis De Guindos speech



FX Beat

DXY: The dollar index plunged as heightened worries about the U.S. service sector increased expectations that the U.S. Federal Reserve will cut interest rates at the end of this month. The greenback against a basket of currencies traded 0.05 percent down at 98.85, having touched a low of 98.64 on Thursday, its highest since September 25.

EUR/USD: The euro steadied amid growing concerns Germany could slip into a recession. The upside in the major appears fragile as yesterdays data showed Eurozone business growth stalled in September as an ongoing contraction in manufacturing activity is increasingly affecting the services industry. The European currency traded flat at 1.0970 having touched a low of 1.0897 on Tuesday, its lowest since May 2017. Investors’ attention will remain on a series of data out from the Eurozone economies and ECB non-monetary policy meeting, ahead of the U.S. non-farm payroll, unemployment rate, trade balance and Fed officials' speeches. Immediate resistance is located at 1.0994 (50% retracement of 1.1109 and 1.0879), a break above targets 1.1021 (61.8% retracement). On the downside, support is seen at 1.0938 (5-DMA), a break below could drag it below 1.0904.

USD/JPY: The dollar declined, hovering towards a 1-month low hit in the previous session after a soft U.S. service sector survey inflamed worries that pressure from U.S. trade disputes with China and other countries could spill over into the broader U.S. economy and eventually tip it into a recession. The U.S. Institute for Supply Management showed its non-manufacturing activity index declining to 52.6 in September, the lowest since August 2016, and far below expectations of 55.1, from 56.4 in August. The major was trading 0.1 percent down at 106.81, having hit a low of 106.48 the day before, its lowest since September 24. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. non-farm payroll, unemployment rate, trade balance and Fed officials' speeches. Immediate resistance is located at 107.56 (5-DMA), a break above targets 108.25 (September 13 High). On the downside, support is seen at 106.62 (September 6 Low), a break below could take it near at 106.25 (August 22 Low).

GBP/USD: Sterling rose, extending prior session gains as investors remained unsure whether Prime Minister Boris Johnson’s proposal to replace the Irish border backstop was going to change into a final Brexit transition agreement. On Thursday, the British pound rallied to a 1-week high after the head of a group of euroskeptic lawmakers in Johnson’s Conservative Party said the government’s latest Brexit proposals offered the possibility of a tolerable deal. The major traded 0.1 percent up at 1.2346, having hit a high of 1.2413 the day before, it’s highest since September 25. Investors’ attention will remain on the development surrounding Brexit, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2400, a break above could take it near 1.2456. On the downside, support is seen at 1.2299 (5-DMA), a break below targets 1.2233 (September 9 Low). Against the euro, the pound was trading down at 88.89 pence, having hit a low of 89.36 on Tuesday, it’s lowest since Sept. 13.

AUD/USD:The Australian dollar surged as domestic retail sales rose in August, suggesting recent interest rate cuts and government tax rebates had helped lift consumer spending. The economy's retail sales climbed 0.4 percent in August after a flat outcome in July. The Aussie trades 0.2 percent up at 0.6754, having hit a high of 0.6759 earlier, it’s highest since October 1. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6687, a break below targets 0.6635. On the upside, resistance is located at 0.6799 (August 21 High), a break above could take it near 0.6803 (September 25 High).

NZD/USD: The New Zealand dollar rallied to an over 1-week peak after the Reserve Bank of New Zealand deputy governor Geoff Bascand said the central bank will review all of its key proposals for raising bank capital requirements. The Kiwi trades 0.4 percent up at 0.6320, having touched a high of 0.6328 earlier, its highest level since September 25. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6348 (September 25 High), a break above could take it near 0.6391 (September 16 High). On the downside, support is seen at 0.6273 (5-DMA), a break below could drag it below 0.6249.



Equities Recap

Asian shares
rose, supported by gains on Wall Street, although the sentiment was cautious ahead of a key U.S. job report that could help determine whether the Federal Reserve cuts interest rates further.

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

Tokyo's Nikkei rose 0.3 percent to 21,410.20 points, Australia's S&P/ASX 200 index rallied 0.4 percent to 6,517.10 points and South Korea's KOSPI declined 0.4 percent to 2,024.49 points

Hong Kong’s Hang Seng traded 1.5 percent lower at 25,713.88 points. Taiwan shares added 0.2 percent to 10,894.48 points.

Chinese markets will be shut for a week.



Commodities Recap

Crude Oil prices rose but remained on track for large weekly losses on fears that slower global economic growth will dent fuel demand. International benchmark Brent crude was trading 0.6 percent up at $57.96 per barrel by 0535 GMT, having hit a low of $57.13 the day before, its lowest since August 7. U.S. West Texas Intermediate was trading 0.9 percent higher at $52.73 a barrel, after falling as low as $52.27 on Thursday, its lowest since August 7.

Gold prices surged, extending gains for a fourth straight session as weak U.S. service sector survey deepened concerns over economic growth and bolstered bets of further rate cuts by the Federal Reserve. Spot gold was trading 0.2 percent down at $1,507.53 per ounce by 0552 GMT, having touched a high of $1,519.53 on Thursday, its highest since September 25. U.S. gold futures were flat at $1,513.9 an ounce.



Treasuries Recap

The Australian 10-year government bond yield slumped to 1-month low during Asian session tracking a similar movement in the United States Treasuries amid surging safe-haven demand as global central banks’ are in a policy easing frenzy. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, dipped 3-1/2 basis points to 0.894 percent, the yield on the long-term 30-year bond fell over 3 basis points to 1.512 percent and the yield on short-term 2-year down about 2 basis points lower at 0.631 percent.









DAPATKAN INFO TERKINI DAILY MARKET NEWS SETIAP HARI DI FIREWOODFX
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