FirewoodFX - Market News

Daily Forex Market News - FirewoodFx

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Re: FirewoodFX - Market News

#501

Post by B0N3 » Thu Jun 13, 2019 8:08 pm

Asia Roundup:
Aussie plunges on mixed jobs data, dollar falls against yen as risk appetite ebbs, Asian shares slump –
Thursday, June 13th, 2019







Market Roundup

Trump leaves China tariff deadline open, calls relationship 'testy'

Thousands of Hong Kong protesters gather, govt offices shut after violent protests

China's Vice Premier Liu calls for more measures to support economy

China economists expect interest rate, RRR cuts in coming weeks- China Daily

China is confident of keeping yuan basically stable – FX regulator

Trump considering sanctions over Russia's Nord Stream 2 natgas pipeline

Brexit delay gives some relief to UK housing market – RICS

Australia May Employment, 42.3k, 17.5k f'cast, 28.4k prev

Australia May Unemployment Rate, 5.2%, 5.1% f'cast, 5.2% prev

Australia May Participation Rate, 66.0%, 65.8% f'cast, 65.8% prev



Economic Data Ahead

(0500 ET/0900 GMT) EZ Apr Industrial Production YY, -0.5% f'cast, -0.6% prev



Key Events Ahead

N/A ECB's Mario Draghi, Benoit Coeure and euro zone finance ministers meet in Eurogroup meeting in Luxembourg

(0330 ET/0730 GMT) Swiss National Bank Monetary policy assessment with news conference in Bern

(0730 ET/1130 GMT) German Economy Minister Peter Altmaier speaks at podium discussion in Berlin

(0800 ET/1200 GMT) BoE's Alex Brazier speaks at University of Warwick in London



FX Beat

DXY: The dollar index eased on increasing expectations the U.S. Federal Reserve could cut interest rates in the next few months. The greenback against a basket of currencies traded 0.1 percent down at 96.90, having touched a low of 96.46 on Friday, its lowest since Mar. 25. FxWirePro's Hourly Dollar Strength Index stood at 129.84 (Highly Bullish) by 0500 GMT.

EUR/USD: The euro steadied after falling to a 5-day low in the previous session, as the recovery in Greece's housing market gained momentum in the first quarter. The European currency traded 0.1 percent up at 1.1297, having touched a high of 1.1347 on Friday, its highest since Mar. 22. FxWirePro's Hourly Euro Strength Index stood at 39.16 (Neutral) by 0500 GMT. Investors’ attention will remain on a series of data from the Eurozone economies and EZ industrial production, ahead of the U.S. unemployment benefit claims, and import and export price index. Immediate resistance is located at 1.1359 (Mar. 18 High), a break above targets 1.1402 (Feb. 16 High). On the downside, support is seen at 1.1263 (Mar. 26 Low), a break below could drag it below 1.1201 (May 14 Low).

USD/JPY: The dollar plunged to a 1-week low, amid mounting expectations that the Federal Reserve will ease monetary policy in coming months. Moreover, worries over U.S.-China trade war continued to dent investor risk appetite. The pair was trading 0.1 percent down at 108.34, having hit a high of 108.80 on Tuesday, its highest since May 31. FxWirePro's Hourly Yen Strength Index stood at 47.37 (Neutral) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. unemployment benefit claims, and import and export price index. Immediate resistance is located at 108.87 (50.0% retracement of 109.92 and 107.81), a break above targets 109.47 (78.6% retracement). On the downside, support is seen at 107.88 (June 3 Low), a break below could take it lower at 107.51 (Jan. 4 Low).

GBP/USD: Sterling consolidated within narrow ranges, as investors remained cautious after British lawmakers defeated an attempt led by the opposition Labour Party to try to block a no-deal Brexit. The major traded flat at 1.2691, having hit a high of 1.2763 on Friday; it’s highest since May 21. FxWirePro's Hourly Sterling Strength Index stood at 16.04 (Neutral) 0500 GMT. Investors’ attention will remain on the U.S. fundamental drivers, amid a lack of data from the UK docket. Immediate resistance is located at 1.2763 (June 7 High), a break above could take it near 1.2798 (May 17 High). On the downside, support is seen at 1.2647 (May 24 Low), a break below targets 1.2580 (May 30 Low). Against the euro, the pound was trading 0.1 percent down at 89.03 pence, having hit a low of 89.32 on Tuesday, it’s lowest since Jan. 15.

AUD/USD: The Australian dollar slumped to a 2-week low, as a mixed set of domestic jobs data supported the case of RBA rate cut as soon as July. The economy's May labour report showed unemployment stayed at 5.2 percent, against expectations for a dip back to 5.1 percent. The Aussie trades 0.2 percent down at 0.6912, having hit a high of 0.7022 on Friday, it’s highest since May 8. FxWirePro's Hourly Aussie Strength Index stood at -149.18 (Highly Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6881 (May 24 Low), a break below targets 0.6867 (May 17 Low). On the upside, resistance is located at 0.6959 (May 14 High), a break above could take it near 0.7029 (May 2 High).

NZD/USD: The New Zealand dollar consolidated near a 10-day low, as investors wagered heavily that the Reserve Bank of New Zealand will have to move again following its May easing, though it is not seen cutting as deep as the RBA. The Kiwi trades flat at 0.6575, having touched a high of 0.6681 on Friday, its highest level April 30. FxWirePro's Hourly Kiwi Strength Index was at -108.08 (Highly Bearish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6619 (June 4 High), a break above could take it near 0.6681 (June 7 High). On the downside, support is seen at 0.6550 (May 15 Low), a break below could drag it below 0.6513 (May 17 Low).



Equities Recap

Asian shares declined as the Hong Kong market plunged for the second straight session following a day of massive street protests.

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

Tokyo's Nikkei declined 0.5 percent to 21,032.00 points, Australia's S&P/ASX 200 index plunged 0.05 percent to 6,542.40 points and South Korea's KOSPI slumped 0.2 percent to 2,103.59 points.

Hong Kong’s Hang Seng traded 0.8 percent lower at 27,101.99 points. Taiwan shares shed 0.5 percent to 10,561.01 points

Shanghai composite index gained 0.05 percent to 2,910.59 points, while CSI 300 index traded 0.1 percent up at 3,688.80 points.



Commodities Recap

Crude Oil prices surged by more than 1 percent after falling to a 1-week low in the previous session on continued increases in U.S. crude stockpiles and concerns about lower demand growth. International benchmark Brent crude was trading 1.2 percent higher at $60.52 per barrel by 0501 GMT, having hit a low of $59.55 on Wednesday, its lowest since June 5. U.S. West Texas Intermediate was trading 0.6 percent up at $51.36 a barrel, after falling as low as $50.71 on Wednesday, its lowest since the June 5.

Gold prices advanced, extending previous session gains as demand for the safe-haven assets rose on expectations of an interest rate cut by the U.S. Federal Reserve following soft inflation data, and on escalating trade tensions between U.S. and China. Spot gold was 0.1 percent up at $1,334.96 per ounce by 0505 GMT, having touched a low of $1,319.79 on Monday, its lowest since June 3. U.S. gold futures were 0.3 percent higher at $1,340.10 an ounce.







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#502

Post by B0N3 » Fri Jun 14, 2019 8:45 pm

Asia Roundup:
Antipodeans at multi-week lows on more easing expectations, yen gains against dollar amid risk-off sentiment, Asian shares consolidate –
Friday, June 14th, 2019







Market Roundup

U.S. blames Iran for tanker attacks in Gulf of Oman, Iran rejects assertion

Democrats: Trump comments give green light to foreign election meddling

China raises anti-dumping duties on some U.S., EU steel tubes and pipes

Competitive currency devaluation could prompt global financial chaos – ex-PBOC chief

Japan, U.S. deepened understanding over positions on trade – Motegi

Banks re-open as Hong Kong returns to normal ahead of weekend protest

Brexit supporter Johnson far ahead in contest to replace British PM

OPEC, Russia nearing accord on long term oil supply coordination – Nikkei

Trump loses loyalist Sarah Sanders in another White House departure

U.S. muni bond funds post $778.4 mln in inflows-Lipper

Foreign CB US debt holdings +$17.705 bln to $3.461 tln June 12 week

Treasuries +$17.237 bln to $3.051 tln, agencies +$361 mln to $332.93 bln



Economic Data Ahead

(0245 ET/0645 GMT) France May CPI (EU Norm) Final YY, 1.1% f'cast, 1.1% prev



Key Events Ahead

N/A ECB's Luis de Guindos participates at ECOFIN meeting in Luxembourg

N/A ECB's Andrea Enria and Bank of Italy's Fabio Panetta speak at a conference on banks in Frankfurt

(0600 ET/1000 GMT) ECB's Sabine Lautenschlager participates at Executive Committee meeting of European Association of Co-operative Banks (EACB) in Berlin

(0615 ET/1015 GMT) ECB's Andrea Enria chairing panel “NPLs: How and when do we solve the problem, or is it solving itself?” at ILF Conference in Frankfurt

(0855 ET/1255 GMT) BoE's Mark Carney attends Women in Banking & Finance 22nd Anniversary Awards for Achievement lunch in London



FX Beat

DXY: The dollar surged to a 1-week peak, as investors' await the release of the U.S. retail sales data due later for further insights into the state of domestic demand in the U.S. economy. The greenback against a basket of currencies traded 0.05 percent up at 97.06, having touched a high of 97.09, its highest since June 7. FxWirePro's Hourly Dollar Strength Index stood at 71.61 (Bullish) by 0500 GMT.

EUR/USD: The euro declined, extending losses for the third straight session, as trade disputes between the United States and both China and the European Union stoked fears that German growth will slow or even stall in the second quarter. The European currency traded 0.05 percent down at 1.1272, having touched a low of 1.1268 on Thursday, its lowest since June 7. FxWirePro's Hourly Euro Strength Index stood at -54.48 (Bearish) by 0500 GMT. Investors’ attention will remain on a series of data from the Eurozone economies and ECB Lautenschlager and De Guindos' speech, ahead of the U.S. retail sales, capacity utilization, industrial production and business inventories. Immediate resistance is located at 1.1309 (June 6 High), a break above targets 1.1359 (Mar. 18 High). On the downside, support is seen at 1.1251 (June 7 Low), a break below could drag it below 1.1201 (May 14 Low).

USD/JPY: The dollar eased as investor focus turned to next week's Federal Reserve meeting for hints on a possible rate cut amid rising risks to trade and global growth. The pair was trading 0.05 percent down at 108.30, having hit a high of 108.80 on Tuesday, its highest since May 31. FxWirePro's Hourly Yen Strength Index stood at 59.97 (Bullish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, capacity utilization, industrial production and business inventories. Immediate resistance is located at 108.87 (50.0% retracement of 109.92 and 107.81), a break above targets 109.47 (78.6% retracement). On the downside, support is seen at 107.88 (June 3 Low), a break below could take it lower at 107.51 (Jan. 4 Low).

GBP/USD: Sterling consolidated near a 3-day low after Boris Johnson won the support of 114 Conservative lawmakers in the first round of the contest to replace Prime Minister Theresa May. The major traded flat at 1.2673, having hit a high of 1.2763 last week; it’s highest since May 21. FxWirePro's Hourly Sterling Strength Index stood at -11.19 (Neutral) 0500 GMT. Investors’ attention will remain on BoE Governor Carney's speech, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2742 (June 6 High), a break above could take it near 1.2798 (May 17 High). On the downside, support is seen at 1.2647 (May 24 Low), a break below targets 1.2580 (May 30 Low). Against the euro, the pound was trading flat at 88.92 pence, having hit a low of 89.32 on Tuesday, it’s lowest since Jan. 15.

AUD/USD: The Australian dollar plunged to a 3-week low as the mixed labour report this week fuelled speculation the RBA would have to cut even deeper, with markets pricing in ever larger, and earlier, rate cuts amid a global shift toward renewed central bank stimulus. The Aussie trades 0.2 percent down at 0.6897, having hit a low of 0.6892, it’s lowest since May 24. FxWirePro's Hourly Aussie Strength Index stood at -26.54 (Neutral) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6871 (May 22 Low), a break below targets 0.6840. On the upside, resistance is located at 0.6959 (May 14 High), a break above could take it near 0.7029 (May 2 High).

NZD/USD: The New Zealand dollar slumped to a 2-week low, as investors wagered that aggressive rate cuts would be required given soft domestic economic data and the fallout from U.S.-China tariffs globally. The Kiwi trades 0.5 percent down at 0.6533, having touched a low of 0.6527 earlier, its lowest level June 3. FxWirePro's Hourly Kiwi Strength Index was at -108.08 (Highly Bearish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6619 (June 4 High), a break above could take it near 0.6681 (June 7 High). On the downside, support is seen at 0.6550 (May 15 Low), a break below could drag it below 0.6513 (May 17 Low).



Equities Recap

Asian shares held gains on hopes the Federal Reserve will ease monetary policy soon to counter a slowing global economy.

MSCI's broadest of Asia-Pacific shares outside Japan consolidated within narrow ranges.

Tokyo's Nikkei rallied 0.4 percent to 21,116.89 points, Australia's S&P/ASX 200 index rose 0.2 percent to 6,554.00 points and South Korea's KOSPI slumped 0.5 percent to 2,091.77 points.

Hong Kong’s Hang Seng traded 0.7 percent lower at 27,118.12 points. Taiwan shares shed 0.4 percent to 10,524.67 points

Shanghai composite index fell 0.8 percent to 2,888.36 points, while CSI 300 index traded 0.7 percent down at 3,660.65 points.



Commodities Recap

Crude Oil prices rose for a second straight session, as attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude flows through one of the world's key shipping routes. International benchmark Brent crude was trading 0.6 percent higher at $61.66 per barrel by 0506 GMT, having hit a low of $59.55 on Wednesday, its lowest since June 5. U.S. West Texas Intermediate was trading 0.4 percent up at $52.38 a barrel, after falling as low as $50.71 on Wednesday, its lowest since the June 5

Gold prices rose to a 1-week peak and closer to its 14-month high hit last week, as trade and political turmoil, along with U.S. rate cut expectations boosted demand for safe-haven assets. Spot gold was 0.3 percent up at $1,345.43 by 0513 GMT, having touched a high of $1,347.78 earlier, its highest since June 7 and has risen 0.4 percent so far this week. U.S. gold futures rose 0.4 percent to $1,349.50 an ounce.







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#503

Post by B0N3 » Mon Jun 17, 2019 7:23 pm

Asia Roundup:
Antipodeans steady near multi-week lows, greenback gains as upbeat U.S. retail sales temper views of Fed rate cut, Asian shares nudge up –
Monday, June 17th, 2019







Market Roundup

ECB will act if inflation expectations are de-anchored: de Guindos

Pressure builds on Hong Kong leader with democracy activist set to leave jail

China cbank injects funds, second phase of RRR cut takes effect

China says to roll out rare earths policies as soon as possible

U.S. chipmakers quietly lobby to ease Huawei ban -sources

Saudi seeks oil supply protection as U.S and Iran face off

Taking aim at Johnson, British PM hopefuls make Brexit case

Moody's cuts Turkey rating to B1, ministry challenges move



Economic Data Ahead

(0500 ET/0900 GMT) EZ Q1 Labour Costs YY, 2.3% prev

(0600 ET/1000 GMT) EZ May Reserve Assets Total (EUR), 740.43 bln prev



Key Events Ahead

N/A Colombian President Ivan Duque Marquez and his Finance Minister Alberto Carrasquilla Barrera, Trade Minister Jose Manuel Restrepo and Energy Minister Maria Fernanda Suarez speak at financial conference to promote Colombian capital markets in London (to June 19).

N/A UK Finance Minister Philip Hammond and China's Vice Premier Hu Chunhua discuss multilateral and bilateral economic issues, financial services cooperation, and trade and investment in London

N/A Top ECB officials speak at the bank's annual showcase conference in Sintra, Portugal (to June 19).

(0500 ET/0900 GMT) Bank of Spain Governor Pablo Hernandez de Cos opens financial congress in Santander, Spain

(0700 ET/1100 GMT) Riksbank General Council meeting in Stockholm

(1300 ET/1700 GMT) ECB's Mario Draghi delivers opening remarks at ECB Forum on Central Banking 2019 “20 Years of European Economic and Monetary Union” in Sintra, Portugal

(1430 ET/1830 GMT) BoC's Lawrence Schembri delivers speech at Economics Society of Northern Alberta, Edmonton in Ottawa



FX Beat

DXY: The dollar index rallied to a 2-week peak, as investors expect Fed Chairman Jerome Powell would leave the door open to future rate cuts at this week’s policy meeting. The greenback against a basket of currencies traded 0.1 percent up at 97.56, having touched a high of 97.59, its highest since June 3. FxWirePro's Hourly Dollar Strength Index stood at 96.01 (Slightly Bullish) by 0500 GMT.

EUR/USD: The euro steadied after falling to a 1-week low in the previous session, as the European Central Bank recently raised the prospect of even more stimulus to the support the economy. The European currency traded 0.1 percent up at 1.1216, having touched a low of 1.1202 on Friday, its lowest since June 6. FxWirePro's Hourly Euro Strength Index stood at -34.33 (Neutral) by 0500 GMT. Investors’ attention will remain on the Eurozone Labour cost report, ahead of the U.S. NAHB housing market index and NY empire state manufacturing index. Immediate resistance is located at 1.1237 (23.6% retracement of 1.1347 and 1.1202), a break above targets 1.1275 (50% retracement). On the downside, support is seen at 1.1172 (May 24 Low), a break below could drag it below 1.1141 (May 21 Low).

USD/JPY: The dollar surged to a near 1-week peak, as strong U.S. retail sales released on Friday reduced the chances of an easing this week. However, an escalating trade war between the United States and China continued to dent investor risk sentiment, limiting the upside. The pair was trading 0.05 percent up at 108.61, having hit a high of 108.70 earlier, its highest since June 11. FxWirePro's Hourly Yen Strength Index stood at 48.10 (Neutral) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S.NAHB housing market index and NY empire state manufacturing index. Immediate resistance is located at 108.80 (June 11 High), a break above targets 109.08 (Jan. 8 High). On the downside, support is seen at 107.88 (June 3 Low), a break below could take it lower at 107.51 (Jan. 4 Low).

GBP/USD: Sterling plunged to a 2-week low, as investors remain concerned that Prime Minister Theresa May's successor will lead Britain towards a no-deal Brexit. The major traded 0.05 percent down at 1.2590, having hit a low of 1.2575 earlier; it’s lowest since May 31. FxWirePro's Hourly Sterling Strength Index stood at 48.10 (Neutral) 0500 GMT. Investors’ attention will remain on UK inflation report hearings, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2671 (May 29 High), a break above could take it near 1.2732 (June 11 High). On the downside, support is seen at 1.2558 (May 31 Low), a break below targets 1.2506 (Dec.10 Low). Against the euro, the pound was trading flat at 89.06 pence, having hit a low of 89.32 last week, it’s lowest since Jan. 15.

AUD/USD: The Australian dollar consolidated near multi-week lows, as the greenback got a boost from upbeat U.S. retail sales data. On Friday, the major plunged to a 5-month low on data that showed Chinese industrial output slowed to a 17-year low in May. The Aussie trades 0.1 percent up at 0.6877, having hit a low of 0.6861, it’s lowest since Jan. 3. FxWirePro's Hourly Aussie Strength Index stood at -87.34 (Slightly Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6845, a break below targets 0.6810. On the upside, resistance is located at 0.6900 (23.6% retracement 0.6964 and 0.6861), a break above could take it near 0.6959 (May 14 High).

NZD/USD: The New Zealand dollar edged up, halting a 5-day losing streak, as investors awaited the domestic GDP data for the March quarter due on Thursday. The Kiwi trades 0.3 percent up at 0.6508, having touched a low of 0.6487 on Friday, its lowest level May 23. FxWirePro's Hourly Kiwi Strength Index was at -104.08 (Highly Bearish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6542 (May 21 High), a break above could take it near 0.6573 (June 14 High). On the downside, support is seen at 0.6474 (Oct. 4 Low), a break below could drag it below 0.6432 (Oct. 5 Low).



Equities Recap

Asian shares nudged higher as a rebound in the Hong Kong market boosted risk sentiment, while investors remained cautious ahead of a closely-watched Federal Reserve meeting.

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

Tokyo's Nikkei rallied 0.05 percent to 21,124.00 points, Australia's S&P/ASX 200 index declined 0.4 percent to 6,530.90 points and South Korea's KOSPI slumped 0.3 percent to 2,088.50 points.

Hong Kong’s Hang Seng rose 0.1 percent to 2,885.64 points, while CSI 300 index traded 0.1 percent down at 3,652.36 points.

Shanghai composite index traded 0.5 percent higher at 27,257.11 points. Taiwan shares added 0.1 percent to 10,530.54 points



Commodities Recap

Crude Oil prices surged after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East. International benchmark Brent crude was trading 0.2 percent higher at $62.13 per barrel by 0448 GMT, having hit a low of $59.55 on Wednesday, its lowest since June 5. U.S. West Texas Intermediate was trading 0.2 percent up at $52.56 a barrel, after falling as low as $50.71 on Wednesday, its lowest since the June 5.

Gold prices consolidated, just below a 14-month peak hit in the previous session, as the dollar surged after encouraging U.S. retail sales data tempered fears about a sharp downturn in the economy. Spot gold was trading flat at $1,341.16 by 0455 GMT, having touched a high of $1,358.06 on Friday, its highest since April 11. U.S. gold futures fell 0.3 percent to $1,340.20 an ounce.






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#504

Post by B0N3 » Tue Jun 18, 2019 8:19 pm

Asia Roundup:
Aussie at 5-1/2 month trough on RBA meeting minutes, greenback eases on growing Fed rate cut expectations, Asian shares surge –
Tuesday, June 17th, 2019







Market Roundup

Australia's central bank says “likely” will have to cut rates again-minutes

U.S. says to send more troops to the Middle East, cites Iran threats

U.S. firms say China tariffs will raise costs, see few sourcing alternatives

China's home prices growth fastest in 5 months, raises policy challenge

China holdings of U.S. Treasuries in April skid to nearly 2-year low

How Japan turned against its 'bazooka'-wielding central bank chief

Kuroda says BOJ will debate rising overseas economic risks this week

UK's Hammond 'prepared to resign' over May's legacy spending plans -ITV, citing PA

Trump says U.S. agency will begin removing millions of illegal immigrants

Darkening mood among Japanese manufacturers flags risks ahead – Reuters Tankan

Australia Q1 Home Price Index, -3.0%, -2.4% prev



Economic Data Ahead

(0500 ET/0900 GMT) EZ May HICP Final YY, 1.2% f'cast, 1.2% prev

(0500 ET/0900 GMT) EZ May HICP Final MM, 0.2% f'cast, 0.7% prev

(0500 ET/0900 GMT) Germany Jun ZEW Economic Sentiment, -5.8 f'cast, -2.1 prev

(0500 ET/0900 GMT) Germany Jun ZEW Current Conditions, 6.0 f'cast, 8.2 prev



Key Events Ahead

N/A U.S. Federal Reserve's FOMC starts two-day meeting on interest rates

N/A Top ECB officials speak at bank's annual showcase conference in Sintra, Portugal

N/A Italian Finance and Economy Minister Giovanni Tria speaks at Global Borrowers and Bond Investors Forum in London

(0400 ET/0800 GMT) ECB's Mario Draghi delivers introductory speech at ECB Forum on Central Banking 2019 “20 Years of European Economic and Monetary Union” in Sintra, Portugal

(0430 ET/0830 GMT) ECB's Luis de Guindos participates in chairing Session 1 “The first 20 years of EMU” in Sintra, Portugal

(0630 ET/1030 GMT) German Economy Minister Peter Altmaier speaks at German construction industry's annual congress in Berlin

(0630 ET/1030 GMT) ECB's Philip Lane participates in chairing panel “The first 20 years of EMU” in Sintra, Portugal

(0930 ET/1330 GMT) Powertalk with Bundesbank executive board member Joachim Wuermeling, title: “Connecting Values: A Digital Finance Hub for Europe” in Frankfurt

(1000 ET/1400 GMT) ECB's Mario Draghi participates in policy panel in Sintra, Portugal



FX Beat

DXY: The dollar index eased, retreating from a 2-week peak, undermined by the New York Fed's business index showing a record fall this month to its weakest level in more than 2-1/2 years. The greenback against a basket of currencies traded 0.1 percent down at 97.44, having touched a high of 97.60 on Monday, its highest since June 3. FxWirePro's Hourly Dollar Strength Index stood at 101.86 (Highly Bullish) by 0500 GMT.

EUR/USD: The euro rose, extending gains for the second straight session after Italian government sources stated that Italy believes it can meet the European Commission's demands over its public accounts for this year. The European currency traded 0.2 percent up at 1.1235, having touched a low of 1.1202 on Friday, its lowest since June 6. FxWirePro's Hourly Euro Strength Index stood at -23.80 (Neutral) by 0500 GMT. Investors’ attention will remain on the German ZEW survey, Eurozone trade balance and consumer price index, ahead of the U.S. building permits and housing starts. Immediate resistance is located at 1.1258 (32.2% retracement of 1.1347 and 1.1202), a break above targets 1.1292 (61.8% retracement). On the downside, support is seen at 1.1172 (May 24 Low), a break below could drag it below 1.1141 (May 21 Low).

USD/JPY: The dollar declined, halting a 2-day rally, as investors turned cautious ahead of the Federal Reserve's interest rate meeting. On Monday, the U.S. Treasury yields dipped after data showed the New York Fed's business growth fell this month to its weakest in more than 2-1/2-years, stoking rate cut expectations. The pair was trading 0.2 percent down at 108.29, having hit a high of 108.72 the day before, its highest since June 11. FxWirePro's Hourly Yen Strength Index stood at 144.93 (Slightly Bullish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. building permits and housing starts. Immediate resistance is located at 108.80 (June 11 High), a break above targets 109.08 (Jan. 8 High). On the downside, support is seen at 107.88 (June 3 Low), a break below could take it lower at 107.51 (Jan. 4 Low).

GBP/USD: Sterling plunged to a fresh 5-1/2 month low amid growing worries Boris Johnson, the front-runner to replace UK Prime Minister Theresa May, could put Britain on a path towards a no-deal Brexit. The major traded 0.05 percent down at 1.2528, having hit a low of 1.2511 earlier; it’s lowest since Jan 3. FxWirePro's Hourly Sterling Strength Index stood at -81.32 (Slightly Bearish) 0500 GMT. Investors’ attention will remain on BoE Governor Carney's speech, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2570 (23.6% retracement of 1.2758 and 1.12511), a break above could take it near 1.2635 (50% retracement). On the downside, support is seen at 1.2476 (Dec. 12 Low), a break below targets 1.2435. Against the euro, the pound was trading 0.2 percent down at 89.65 pence, having hit a low of 89.74 earlier, it’s lowest since Jan. 15.

AUD/USD: The Australian dollar slumped to a 5-1/2 month low, weighed down by growing expectations of another rate cut by the country's central bank and by the spectre of a further slowdown in China. The Aussie trades 0.2 percent down at 0.6838, having hit a low of 0.6833, it’s lowest since Jan. 3. FxWirePro's Hourly Aussie Strength Index stood at -130.67 (Highly Bearish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6810, a break below targets 0.6744 (Jan.3 Low). On the upside, resistance is located at 0.6879 (23.6% retracement 0.7022 and 0.6833), a break above could take it near 0.6906 (50% retracement).

NZD/USD: The New Zealand dollar consolidated near multi-week lows, as investors bet the Reserve Bank of New Zealand will ease at least once more having cut rates in May. The Kiwi trades flat at 0.6495, having touched a low of 0.6487 on Friday, its lowest level May 23. FxWirePro's Hourly Kiwi Strength Index was at -105.34 (Highly Bearish) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6542 (May 21 High), a break above could take it near 0.6573 (June 14 High). On the downside, support is seen at 0.6474 (Oct. 4 Low), a break below could drag it below 0.6432 (Oct. 5 Low).



Equities Recap

Asian shares surged, as investors awaited the Federal Reserve's interest rate meeting, where it is expected to leave borrowing costs unchanged but possibly lay the groundwork for a rate cut later this year.

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

Tokyo's Nikkei fell 0.7 percent to 20,972.71 points, Australia's S&P/ASX 200 index gained 0.6 percent to 6,570.00 points and South Korea's KOSPI rallied 0.4 percent to 2,098.71 points.

Hong Kong’s Hang Seng traded 1.2 percent higher at 27,548.63 points. Taiwan shares added 0.3 percent to 10,566.74 points

Shanghai composite index eased 0.05 percent to 2,886.69 points, while CSI 300 index traded 0.2 percent rose at 3,662.60 points.



Commodities Recap

Crude Oil prices declined, weighed down by signs that global economic growth is being hit by U.S.-China trade tensions, although tensions in the Middle East after tanker attacks last week limited downside. International benchmark Brent crude was trading 0.1 percent lower at $60.92 per barrel by 0456 GMT, having hit a low of $59.55 on Wednesday, its lowest since June 5. U.S. West Texas Intermediate was trading 0.05 percent down at $51.89 a barrel, after falling as low as $50.71 on Wednesday, its lowest since the June 5.

Gold prices rose, halting a 2-day losing streak as the greenback pulled back from multi-week highs ahead of the U.S. Federal Reserve's two-day monetary policy meeting. Spot gold was 0.2 percent up at $1,341.69 by 0503 GMT, having touched a high of $1,358.06 on Friday, its highest since April 11. U.S. gold futures rose 0.2 percent to $1,345.20 an ounce.






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#505

Post by B0N3 » Thu Jun 20, 2019 7:24 pm

Asia Roundup:
Aussie gains on RBA Lowe comments, Kiwi at 1-week peak as Q1 GDP growth steadies, greenback plunges as Fed fuels rate cut hopes –
Thursday, June 20th, 2019







Market Roundup

BOJ holds fire on policy, joins Fed in warning of mounting global risks

Fed sees case building for interest rate cuts this year

Trump believes he has authority to demote Fed's Powell – Bloomberg

China to stand firm as trade talks with U.S. restart-state media

China's premier tells foreign CEOs China will commit to reform, opening up

Australia's central bank flags lower rates in jobs hunt

New Zealand Q1 GDP growth steady, but soft underbelly keeps more rate cuts on table

Gold sprints to over 5-year peak after Fed hints at rate cuts

UK PM candidate Johnson increases support in third round of leadership contest

Italy coalition drafts bill to reform central bank's management

No U.S. aircraft operated over Iran, U.S. military says



Economic Data Ahead

(0430 ET/0830 GMT) Great Britain May Retail Sales YY, 2.7% f'cast, 5.2% prev

(0430 ET/0830 GMT) Great Britain May Retail Sales MM, -0.5% f'cast, 0.0% prev

(0700 ET/1100 GMT) Great Britain Jun BoE Bank Rate, 0.75% f'cast, 0.75% prev

(0700 ET/1100 GMT) Great Britain Jun BoE MPC Vote Unchanged, 9 f'cast, 9 prev

(1000 ET/1400 GMT) EZ Jun Consumer Confidence Flash, -6.5 f'cast, -6.5 prev



Key Events Ahead

N/A Finland central bank's Olli Rehn, BoE's Sam Woods, Single Resolution Board's Chair Elke König and European Banking Authority's Jose Manuel Campa speak at financial conference in Brussels

(0330 ET/0730 GMT) ECB's Luis de Guindos speaks at economy event in Santander, Spain

(0400 ET/0800 GMT) Norway Central Bank announces executive board's interest rate decision and publication of Monetary Policy followed by press conference in Oslo

(0550 ET/0950 GMT) ECB's Andrea Enria speaks at FIBI International Banking Conference 2019 in Dublin
(0530 ET/0930 GMT) Swedish Central Bank's Martin Floden discusses management of foreign exchange reserves at the 8th BBVA Seminar for Public Sector Investors and Issuers in Porto, Portugal

(0700 ET/1100 GMT) BoE announces rate decision and publishes minutes of the meeting after the rate decision

(1400 ET/1800 GMT) UK Finance Minister Philip Hammond and BoE's Mark Carney make annual Mansion House speeches in London



FX Beat

DXY: The dollar index plunged to a 1-week low, as the U.S. Treasury yields slumped after the Federal Reserve signalled it was ready to lower interest rates as early as next month to combat growing global and domestic risks. The greenback against a basket of currencies traded 0.5 percent down at 96.78, having touched a low of 96.76 earlier, its lowest since June 12. FxWirePro's Hourly Dollar Strength Index stood at -133.57 (Highly Bearish) by 0400 GMT.

EUR/USD: The euro rose to a near 1-week peak as the greenback eased after the Federal Reserve opened door to rate cut as early as July. The European currency traded 0.4 percent up at 1.1266, having touched a high of 1.1273 earlier, its highest since June 14. FxWirePro's Hourly Euro Strength Index stood at -34.45 (Neutral) by 0400 GMT. Investors’ attention will remain on the ECB's Economic Bulletin, ahead of the U.S. current account, unemployment claims and Philadelphia Fed manufacturing survey. Immediate resistance is located at 1.1292 (61.8% retracement of 1.1347 and 1.1202), a break above targets 1.1316 (78.6% retracement). On the downside, support is seen at 1.1172 (May 24 Low), a break below could drag it below 1.1141 (May 21 Low).

USD/JPY: The dollar plunged to a 4-1/2 month low after Bloomberg reported that U.S. President Donald Trump believes that he has the authority to replace Fed Chair Jerome Powell and demote him to be a board governor. The pair was trading 0.4 percent down at 107.64, having hit a low of 107.55 earlier, its lowest since Jan. 4. FxWirePro's Hourly Yen Strength Index stood at -133.57 (Highly Bearish) by 0400 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. current account, unemployment claims and Philadelphia Fed manufacturing survey. Immediate resistance is located at 108.80 (June 11 High), a break above targets 109.08 (Jan. 8 High). On the downside, support is seen at 107.18 (June 3 Low), a break below could take it lower at 106.88.

GBP/USD: Sterling rallied to a 1-week peak as the greenback plunged after the Federal Reserve signalled possible interest rate cuts later this year. The major traded 0.4 percent at 1.2694, having hit a high of 1.2694 earlier it’s highest since Jun. 13. FxWirePro's Hourly Sterling Strength Index stood at 64.72 (Bullish) 0400 GMT. Investors’ attention will remain on UK retail sles, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2709 (78.6% retracement of 1.2758 and 1.12511), a break above could take it near 1.2763 (June 7 High). On the downside, support is seen at 1.2580 (Jun. 14 Low), a break below targets 1.2506. Against the euro, the pound was trading flat at 88.76 pence, having hit a high of 89.72 earlier, it’s highest since Jun. 7.

AUD/USD: The Australian dollar rose, extending gains for the third straight session, after Reserve Bank of Australia Governor Philip Lowe said a recent cut in interest rates would not be enough to revive economic growth, and called for the government for more action on fiscal stimulus. The Aussie trades 0.4 percent up at 0.6906, having hit a low of 0.6831 on Tuesday, it’s lowest since Jan. 3. FxWirePro's Hourly Aussie Strength Index stood at 8.80 (Neutral) by 0400 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6848 (June 17 Low), a break below targets 0.6831 (June 18 Low). On the upside, resistance is located at 0.6944 (May 31 High), a break above could take it near 0.6994 (June 6 High).

NZD/USD: The New Zealand dollar advanced to a 1-week peak after data showed domestic economy expanded at a steady pace in the first quarter, boosted by solid construction activity. However, the upside was limited as RBNZ policymakers are expected to cut rates again before year-end to underpin growth amid slowing housing market and global demand. The Kiwi trades 0.7 percent up at 0.6580, having touched a high of 0.6583, its highest level June 13. FxWirePro's Hourly Kiwi Strength Index was at 33.65 (Neutral) by 0400 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6611 (June 11 High), a break above could take it near 0.6644 (June 6 High). On the downside, support is seen at 0.6474 (Oct. 4 Low), a break below could drag it below 0.6432 (Oct. 5 Low).



Equities Recap

Asian shares surged on signs that China and the United States are returning to the negotiating table after a six-week gap, while the dollar plunged after the Federal Reserve signalled possible interest rate cuts later this year.

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

Tokyo's Nikkei rallied 0.6 percent to 21,462.86 points, Australia's S&P/ASX 200 index gained 0.6 percent to 6,687.40 points and South Korea's KOSPI rallied 0.2 percent to 2,129.55 points.

Hong Kong’s Hang Seng traded 0.9 percent higher at 28,467.49 points. Taiwan shares added 0.1 percent to 10,785.01 points

Shanghai composite index rose 2.2 percent to 2,981.17 points, while CSI 300 index traded 1.3 percent up at 3,819.60 points.



Commodities Recap

Crude Oil prices rose as official data showed U.S. crude stocks fell more than expected and as OPEC and other producers finally agreed a date for a meeting to discuss output cuts. International benchmark Brent crude was trading 0.7 percent higher at $62.62 per barrel by 0515 GMT, having hit a high of $62.85 earlier, its highest since June 11. U.S. West Texas Intermediate was trading 1.05 percent up at $54.70 a barrel, after rising as high as $54.93 earlier, its highest since the May 31.

Gold prices surged nearly 2 percent to touch their highest in more than five years as the greenback and U.S. Treasury yields declined after the U.S. Federal Reserve signalled possible interest rate cuts later this year. Spot gold was trading 1.4 percent up at $1,379.61 per ounce by 0519 GMT, having touched a high of $1,393.85, its highest since Sept. 2013. U.S. gold futures surged 2.5 percent to $1,382.60 an ounce.






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#506

Post by B0N3 » Fri Jun 21, 2019 6:30 pm

Asia Roundup:
Aussie at 1-week peak as business activity revives, greenback declines as U.S. Treasury yield ease on dovish Fed, Asian shares volatile –
Friday, June 21st, 2019







Market Roundup

Trump pulls back from launch of military strikes on Iran after initial approval -NYT

Apple, Keurig Dr Pepper, Dollar Tree, Fitbit press U.S. to drop China tariff plan

EU aims to complete top jobs jigsaw puzzle on June 30

'I Love Thee, China': North Korea woos Xi in lavish state visit

Then there were two: Johnson and Hunt fight for British PM job

Gold blasts past $1,400 as Fed rate cut signal wounds dollar, yields

Japan Jun Nikkei Mfg PMI Flash, 49.5, 49.8 prev

Japan May CPI, Core Nationwide YY, 0.8%, 0.8% f'cast, 0.9% prev

Australian business activity revives in early June-survey

U.S. muni bond funds post $856 mln in inflows-Lipper

Foreign CB US debt holdings +$16.321 bln to $3.477 tln June 19 week

Treasuries +$4.887 bln to $3.056 tln, agencies +$11.203 bln to $344.133 bln



Economic Data Ahead

(0315 ET/0715 GMT) France Jun Markit Mfg Flash PMI, 50.7 f'cast, 50.6 prev

(0315 ET/0715 GMT) France Jun Markit Comp Flash PMI, 51.2 f'cast, 51.2 prev

(0330 ET/0730 GMT) Germany Jun Markit Mfg Flash PMI, 44.5 f'cast, 44.3 prev

(0330 ET/0730 GMT) Germany Jun Markit comp Flash PMI, 52.5 f'cast, 52.6 prev

(0400 ET/0800 GMT) EZ Jun Markit Mfg Flash PMI, 48.0 f'cast, 47.7 prev

(0400 ET/0800 GMT) EZ Jun Markit Comp Flash PMI, 51.8 f'cast, 51.8 prev



Key Events Ahead

N/A Deutsche Bundesbank hosts fifth Annual Macroprudential Conference, in cooperation with De Nederlandsche Bank and Sveriges Riksbank in Frankfurt

N/A ECB's Mario Draghi participates at Euro Summit in Brussels, Belgium

(0330 ET/0730 GMT) Boston Fed issues President Eric Rosengren's remarks on causes of Japanese financial crisis of the late 1990s in Boston

(0830 ET/1230 GMT) BoE's Silvana Tenreyro speaks at Economic Policy Research Network Conference 2019 in Copenhagen

(0830 ET/1230 GMT) BoE's Martin Taylor speaks at 5th Annual Macroprudential Conference in Frankfurt

(1200 ET/1600 GMT) Cleveland Fed's Loretta Mester and Federal Reserve's Lael Brainard participate at “Fed Listens: Town Hall Discussion with Federal Reserve Leadership” in Cincinnati, Ohio

(1530 ET/1930 GMT) San Francisco Fed's Mary Daly hosts “Zip Code Economies” podcast launch in San Francisco



FX Beat

DXY: The dollar index plunged to a 2-week low, as data on Thursday showed factory activity in the mid-Atlantic region stalled in June, likely reflecting a recent escalation in trade tensions between the United States and China; and raising hopes for a cut in U.S. interest rates that may stimulate global growth. The greenback against a basket of currencies traded 0.05 percent down at 96.59, having touched a low of 96.50 earlier, its lowest since June 7. FxWirePro's Hourly Dollar Strength Index stood at -108.32 (Highly Bearish) by 0400 GMT.

EUR/USD: The euro steadied above the 1.1300 handle after Italy's Prime Minister Giuseppe Conte in a letter to European Union leaders stated that the country's state accounts are improving despite the slowing economy and do not warrant EU sanctions. The European currency traded 0.1 percent up at 1.1302, having touched a high of 1.1317 on Thursday, its highest since June 12. FxWirePro's Hourly Euro Strength Index stood at -3.63 (Neutral) by 0400 GMT. Investors’ attention will remain on a series of data from the Eurozone economies and EZ Markit flash PMI's, ahead of the U.S. Markit prelim PMI's, existing home sales and speeches by Fed's Clarida and Brainard. Immediate resistance is located at 1.1330 (June 10 High), a break above targets 1.1361 (March 19 High). On the downside, support is seen at 1.1268 (June 13 Low), a break below could drag it below 1.1226 (June 4 Low).

USD/JPY: The dollar plunged to a fresh 5-1/2 month low, as the trade war increased uncertainty over the U.S. economic outlook, prompting the Federal Reserve on Wednesday to signal it could cut interest rates by as much as half a percentage point over the rest of this year. The pair was trading 0.2 percent down at 107.09, having hit a low of 107.04 earlier, its lowest since Jan. 3. FxWirePro's Hourly Yen Strength Index stood at 44.88 (Neutral) by 0400 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. Markit prelim PMI's, existing home sales and speeches by Fed's Clarida and Brainard. Immediate resistance is located at 108.80 (June 11 High), a break above targets 109.08 (Jan. 8 High). On the downside, support is seen at 106.88 (Apr. 17, 2018), a break below could take it lower at 106.26 (Mar. 29, 2018).

GBP/USD: Sterling rallied, extending gains for the fourth straight session, after the Bank of England stroked a less dovish tone than other central banks, reiterating their message that rates would need to rise in a limited and gradual manner. The major traded 0.05 percent up at 1.2702, having hit a high of 1.2727 on Thursday, it’s highest since Jun. 12. FxWirePro's Hourly Sterling Strength Index stood at -12.68 (Neutral) 0400 GMT. Investors’ attention will remain on BoE quarterly bulletin, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2763 (June 7 High), a break above could take it near 1.2813 (May 21 High). On the downside, support is seen at 1.2628 (Jun. 20 Low), a break below targets 1.2580 (Jun. 14 Low). Against the euro, the pound was trading flat at 88.89 pence, having hit a high of 88.72 on Thursday, it’s highest since Jun. 7.

AUD/USD: The Australian dollar advanced to a fresh 1-week peak after a survey showed domestic businesses activity picked-up momentum this month with the service sector recording the fastest pace of growth in seven months. The Aussie trades 0.2 percent up at 0.6932, having hit a high of 0.6937 earlier, it’s highest since Jun. 13. FxWirePro's Hourly Aussie Strength Index stood at -13.21 (Neutral) by 0400 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6881 (May 24 Low), a break below targets 0.6831 (June 18 Low). On the upside, resistance is located at 0.6959 (May 14 High), a break above could take it near 0.6994 (June 6 High).

NZD/USD: The New Zealand dollar surged to a 10-day peak after China said it hoped U.S. officials would bring a problem-solving attitude to renewed trade talks in advance of a meeting between Presidents Donald Trump and Xi Jinping next week in Japan. The Kiwi trades 0.2 percent up at 0.6598, having touched a high of 0.6604, its highest level June 11. FxWirePro's Hourly Kiwi Strength Index was at -22.17 (Neutral) by 0400 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6619 (June 4 High), a break above could take it near 0.6644 (June 6 High). On the downside, support is seen at 0.6540 (May 27 Low), a break below could drag it below 0.6474 (Oct. 4 Low).



Equities Recap

Asian shares traded in a volatile market amid fresh worries about the Middle East, after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington.

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

Tokyo's Nikkei declined 0.9 percent to 21,252.98 points, Australia's S&P/ASX 200 index fell 0.7 percent to 6,644.10 points and South Korea's KOSPI tumbled 0.4 percent to 2,122.45 points.

Hong Kong’s Hang Seng traded 0.4 percent higher at 28,400.13 points. Taiwan shares added 0.2 percent to 10,803.77 points.

Shanghai composite index rose 0.4 percent to 2,999.28 points, while CSI 300 index traded 0.05 percent down at 3,828.88 points.



Commodities Recap

Crude Oil prices rose to 3-week highs amid tensions in the Middle East after Iran shot down a U.S. military drone and on hopes for a drop in U.S. interest rates that may stimulate global growth. International benchmark Brent crude was trading 0.1 percent lower at $64.46 per barrel by 0435 GMT, having hit a high of $65.00 earlier, its highest since May 31. U.S. West Texas Intermediate was trading 0.3 percent down at $56.96 a barrel, after rising as high as $57.75 earlier, its highest since the May 30.

Gold prices advanced more than 1.5 percent, breaking above $1,400 for the first time since September 2013, as hints of a rate cut from the U.S. Federal Reserve dented the greenback demand. Spot gold was trading 1.2 percent up at $1,404.42 per ounce by 0439 GMT, having touched a high of $1,411.75, its highest since Sept. 4 2013. The metal is set to post its biggest weekly gain since the week ended April 29, 2016, and was also on track for its fifth consecutive weekly rise. U.S. gold futures rose 1 percent to $1,410.70 an ounce.






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#507

Post by B0N3 » Mon Jun 24, 2019 8:59 pm

Asia Roundup:
Aussie gains on RBA Lowe's comments, dollar rebounds against yen on hopes of easing in U.S.-China trade dispute, Asian shares rally –
Monday, June 24th, 2019







Market Roundup

China says both U.S., China should make compromises in trade talks

U.S. prods Iran for talks to ease Gulf tensions; Tehran dismisses sanctions threat

Kushner's economic plan for Mideast peace faces broad Arab rejection

Turkey's opposition strikes blow to Erdogan with Istanbul mayoral win

Rival in UK PM race calls on frontrunner Johnson to answer “difficult questions”

Australia c.bank gov: legitimate to question effectiveness of global easing

ECB to pacify doves with a cut or easing guidance by end-Sept

Gold hovers near 6-year high as dovish cenbanks, US-Iran tensions fuel demand

Pompeo to seek stronger strategic ties with India despite trade tensions



Economic Data Ahead

(0400 ET/0800 GMT) Germany Jun Ifo Business Climate New, 97.2 f'cast, 97.9 prev

(0400 ET/0800 GMT) Germany Jun Ifo Curr Conditions New, 100.2 f'cast, 100.6 prev

(0400 ET/0800 GMT) Germany Jun Ifo Expectations New, 94.5 f'cast, 95.3 prev



Key Events Ahead

(0700 ET/1100 GMT) Presentation by ECB Executive Board Member Sabine Lautenschlager at Rotary Club Frankfurt in Frankfurt

(1950 ET/2350 GMT) Bank of Japan to release Minutes of Monetary Policy Meeting held on April 24 and 25 in Tokyo



FX Beat

DXY: The dollar index steadied, halting a 3-day losing streak, as investors await an expected meeting between Presidents Donald Trump and Xi Jinping later this week for signs of de-escalation in a trade war that is hurting the global economy and weakening business confidence. The greenback against a basket of currencies traded 0.05 percent up at 96.14, having touched a low of 96.09 earlier, its lowest since Mar. 21. FxWirePro's Hourly Dollar Strength Index stood at -71.68 (Bearish) by 0500 GMT.

EUR/USD: The euro rallied to a 3-month peak after a Reuters survey showed the European Central Bank will either cut its deposit rate or ease its forward guidance further by pledging to keep interest rates lower for longer by the end of September. The European currency traded 0.1 percent up at 1.1376, having touched a high of 1.1386 earlier, its highest since Mar. 22. FxWirePro's Hourly Euro Strength Index stood at 16.26 (Neutral) by 0500 GMT. Investors’ attention will remain on German IFO Survey, and ECB Lautenschlager's speech, ahead of the Chicago Fed national activity index and Dallas Feb manufacturing business index. Immediate resistance is located at 1.1419 (Feb. 28 High), a break above targets 1.1474 (Dec. 21 High). On the downside, support is seen at 1.1345 (Feb 26 Low), a break below could drag it below 1.1301 (Jun. 11 Low).

USD/JPY: The dollar rose, extending previous session rebound, as investors focus was whether Washington and Beijing can resolve their trade dispute at a summit in Japan this week of leaders from the Group of 20 leading world economies. The pair was trading 0.1 percent up at 107.44, having hit a low of 107.04 on Friday, its lowest since Jan. 3. FxWirePro's Hourly Yen Strength Index stood at -72.80 (Bearish) by 0500 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the Chicago Fed national activity index and Dallas Feb manufacturing business index. Immediate resistance is located at 107.93 (5-DMA), a break above targets 108.52 (21-DMA). On the downside, support is seen at 106.88 (Apr. 17, 2018), a break below could take it lower at 106.26 (Mar. 29, 2018).

GBP/USD: Sterling rallied to a 1-1/2 week peak, as investors shifted their attention back to British politics and the Conservative Party leadership contest. The British pound continues to gain after the Bank of England reiterated that interest rates would need to rise, contrasting with the U.S. Federal Reserve which is now expected to cut rates from July. The major traded 0.1 percent up at 1.2749, having hit a high of 1.2756 earlier, it’s highest since Jun. 12. FxWirePro's Hourly Sterling Strength Index stood at 37.14 (Neutral) 0500 GMT. Investors’ attention will remain on the UK inflation report hearings, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2798 (May 17 High), a break above could take it near 1.2853 (May 16 High). On the downside, support is seen at 1.2681 (Jun. 12 Low), a break below targets 1.2628 (Jun. 20 Low). Against the euro, the pound was trading 0.1 percent down at 89.23 pence, having hit a high of 88.72 on Thursday, it’s highest since Jun. 7.

AUD/USD: The Australian dollar rallied to an over 1-week peak after Reserve Bank of Australia Governor Philip Lowe said that it would be legitimate to question the effectiveness of global monetary policy easings to boost economic growth and also more infrastructure investment would benefit the country's struggling economy. The Aussie trades 0.5 percent up at 0.6955, having hit a high of 0.6961 earlier, it’s highest since Jun. 12. FxWirePro's Hourly Aussie Strength Index stood at 68.48 (Bullish) by 0500 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6881 (May 24 Low), a break below targets 0.6831 (June 18 Low). On the upside, resistance is located at 0.6994 (June 6 High), a break above could take it near 0.7022 (June 7 High).

NZD/USD: The New Zealand dollar advanced to a near 2-week peak, ahead of the Reserve Bank of New Zealand's policy meeting, where it is expected to hold rates steady. The Kiwi trades 0.3 percent down at 0.6606, having touched a high of 0.6608, its highest level June 11. FxWirePro's Hourly Kiwi Strength Index was at 16.04 (Neutral) by 0500 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6619 (June 4 High), a break above could take it near 0.6644 (June 6 High). On the downside, support is seen at 0.6540 (May 27 Low), a break below could drag it below 0.6474 (Oct. 4 Low).



Equities Recap

Asian shares steadied as investors hoped for signs of easing in U.S.-China trade dispute, while oil prices held gains on heightened tensions between the United States and Iran.

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

Tokyo's Nikkei rose 0.1 percent to 21,285.99 points, Australia's S&P/ASX 200 index surged 0.2 percent to 6,665.40 points and South Korea's KOSPI rallied 0.05 percent to 2,126.37 points.

Hong Kong’s Hang Seng traded 0.05 percent higher at 28,478.61 points. Taiwan shares shed 0.2 percent to 10,779.45 points

Shanghai composite index declined 0.05 percent to 3,001.95 points, while CSI 300 index traded 0.05 percent down at 3,833.91 points.



Commodities Recap

Crude Oil prices rallied as tensions remain high between Iran and the United States, with U.S. Secretary of State Mike Pompeo saying significant sanctions on Tehran would be announced. International benchmark Brent crude was trading 0.1 percent higher at $65.41 per barrel by 0426 GMT, having hit a high of $65.74 on Friday, its highest since May 31. U.S. West Texas Intermediate was trading 0.4 percent up at $57.80 a barrel, after rising as high as $57.96 on Monday, its highest since the May 30.

Gold prices surged, hovering towards a near 6-year high touched in the previous session, as dovish signals from major central banks and heightened tensions between the United States and Iran boosted the safe-haven's demand. Spot gold was 0.3 percent up at $1,402.84 per ounce by 0442 GMT, having touched a high of $1,411.75 on Friday, its highest since Sept. 4 2013. U.S. gold futures rose 0.6 percent to $1,409.10 per ounce.






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Post by B0N3 » Tue Jun 25, 2019 7:02 pm

Asia Roundup:
Antipodeans gain on prospects of U.S. rate cut, yen rallies against dollar amid growing geopolitical tension, Asian shares plunge –
Tuesday, June 25th, 2019







Market Roundup

Trump 'comfortable with any outcome' from pivotal Xi talks -official

China, U.S. trade officials talk ahead of Trump-Xi meeting

Iran says U.S. sanctions on Khamenei mean end of diplomacy – Tweet

Trump privately talks about ending Japan defense treaty – Bloomberg
Trump to visit S.Korea as Pompeo raises hope for new N.Korea talks after letter

In Bahrain, U.S. to launch economic part of Mideast peace plan amid skepticism

BOJ debated cost of easing in clarifying rate guidance – April meeting minutes

Boris Johnson says he is serious about 'no-deal' Brexit threat

Fed's Kaplan: wise to wait before any change to rates

China to launch first yuan bonds in Macau

New Zealand May Trade Balance, 264.0 mln, 433.0 mln prev, 383.0 mln r'vsd



Economic Data Ahead

(0500 ET/1000 GMT) UK Jun CBI Distributive Trades, -10 f'cast, -27 prev



Key Events Ahead

N/A Russia's central bank monetary policy chief, Alexei Zabotkin, to speak at Duma in Moscow

(0305 ET/0705 GMT) RBA's Michele Bullock speaks on “Modernising the Australian Payments System” at the Central Bank Payments Conference in Berlin

(0315 ET/0715 GMT) ECB's Luis de Guindos speaks at ABI Annual Convention “Supervision, Risks and Profitability 2019” organised by the Italian Banking Association in Rome

(0830 ET/1230 GMT) Philadelphia Fed issues Nonmanufacturing Business Outlook Survey for June in Philadelphia

(0845 ET/1245 GMT) New York Fed's John Williams gives welcome remarks before the Open Finance Forum organized by Open Finance NYC and Bloomberg in New York

(1200 ET/1600 GMT) Atlanta Fed's Raphael Bostic participates in panel on “Housing” before the Harvard University Joint Center for Housing Studies' “The State of the Nation's Housing 2019,” in Atlanta

(1300 ET/1700 GMT) Fed's Jerome Powell speaks at “C. Peter McColough Series on International Economics: A Conversation with Jerome H. Powell,” in New York

(1315 ET/1715 GMT) ECB's Benoit Coeure gives opening remarks at a dinner with the International Swaps and Derivatives Association's (ISDA) Board of Directors and senior staff in Frankfurt

(1530 ET/1930 GMT) Richmond Fed's Tom Barkin takes part in a discussion at the University of Ottawa's Institute of Fiscal Studies and Democracy



FX Beat

DXY: The dollar index declined to a 3-month low as the yields on 10-year Treasuries slumped 120 basis points, its lowest since November. The greenback against a basket of currencies traded 0.1 percent down at 95.94, having touched a low of 95.84 earlier, its lowest since Mar. 21. FxWirePro's Hourly Dollar Strength Index stood at -33.37 (Neutral) by 0600 GMT.

EUR/USD: The euro rallied to a 3-month peak, as the greenback eased after the U.S. Federal Reserve last week signalled it would cut interest rates before year-end. The European currency traded 0.05 percent up at 1.1397, having touched a high of 1.1412 earlier, its highest since Mar. 21. FxWirePro's Hourly Euro Strength Index stood at 47.30 (Neutral) by 0600 GMT. Investors’ attention will remain on ECB De Guindos' speech, ahead of the U.S. consumer confidence, new home sales and speeches by Fed officials. Immediate resistance is located at 1.1437 (Mar. 21 High), a break above targets 1.1474 (Dec. 21 High). On the downside, support is seen at 1.1345 (Feb 26 Low), a break below could drag it below 1.1301 (Jun. 11 Low).

USD/JPY: The dollar plunged to a near 6-month low amid growing prospects of monetary easing by the Federal Reserve and fresh worries about the Middle East, after Iran shot down a U.S. military drone. The pair was trading 0.3 percent down at 106.99, having hit a low of 106.78 earlier, its lowest since Jan. 3. FxWirePro's Hourly Yen Strength Index stood at -54.42 (Bearish) by 0600 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. consumer confidence, new home sales and speeches by Fed officials. Immediate resistance is located at 107.53 (38.2% retracement of 108.72 and 106.78), a break above targets 107.98 (61.8% retracement). On the downside, support is seen at 106.26 (Mar. 29, 2018), a break below could take it lower at 106.00.

GBP/USD: Sterling consolidated near a 1-month peak recorded in the previous session, as investors were reluctant to take big positions until the conclusion of the Conservative Party leadership contest. The major traded 0.1 percent up at 1.2751, having hit a high of 1.2766 on Monday, it’s highest since May 21. FxWirePro's Hourly Sterling Strength Index stood at 0.17 (Neutral) 0600 GMT. Investors’ attention will remain on the UK CBI distributive trades survey, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2798 (May 17 High), a break above could take it near 1.2853 (May 16 High). On the downside, support is seen at 1.2681 (Jun. 12 Low), a break below targets 1.2628 (Jun. 20 Low). Against the euro, the pound was trading 0.1 percent down at 89.39 pence, having hit a high of 88.72 on Thursday, it’s highest since Jun. 7.

AUD/USD; The Australian dollar surged to a 2-week peak, as the greenback weakened on expectations for an aggressive cut in interest rates by the Federal Reserve next month. The Aussie trades 0.05 percent up at 0.6960, having hit a high of 0.6972 earlier, it’s highest since Jun. 10. FxWirePro's Hourly Aussie Strength Index stood at 46.82 (Neutral) by 0600 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6925 (June 12 Low), a break below targets 0.6881 (May 24 Low). On the upside, resistance is located at 0.6994 (June 6 High), a break above could take it near 0.7022 (June 7 High).

NZD/USD: The New Zealand dollar advanced, extending gains for the sixth straight session, ahead of the Reserve Bank of New Zealand policy meeting, where it is expected to reiterate the dovish sentiments of other central banks. The Kiwi trades 0.3 percent up at 0.6641, having touched a high of 0.6608, its highest level June 10. FxWirePro's Hourly Kiwi Strength Index was at 4.16 (Neutral) by 0600 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6681 (June 7 High), a break above could take it near 0.7729 (Apr. 18 High). On the downside, support is seen at 0.6540 (May 27 Low), a break below could drag it below 0.6474 (Oct. 4 Low).



Equities Recap

Asian shares tumbled as investors waited to see whether Trump and Chinese President Xi Jinping would at least call a truce in their trade war when they meet at the G20 summit in Osaka late this week.

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

Tokyo's Nikkei plunged 0.4 percent to 21,193.81 points, Australia's S&P/ASX 200 index tumbled 0.1 percent to 6,658.00 points and South Korea's KOSPI slumped 0.3 percent to 2,121.11 points.

Hong Kong’s Hang Seng traded 1.3 percent lower at 28,140.82 points. Taiwan shares shed 0.7 percent to 10,706.72 points

Shanghai composite index declined 0.8 percent to 2,984.25 points, while CSI 300 index traded 0.9 percent down at 3,804.05 points.



Commodities Recap

Crude Oil declined amid concerns over the outlook for crude demand, although the downside was limited after Washington announced new sanctions on Iran amid mounting tensions in the Middle East. International benchmark Brent crude was trading 0.7 percent higher at $64.30 per barrel by 0523 GMT, having hit a high of $65.74 on Friday, its highest since May 31. U.S. West Texas Intermediate was trading 0.7 percent down at $57.31 a barrel, after rising as high as $58.20 on Monday, its highest since the May 30.

Gold prices surged more than 1 percent to their highest level in 6-years as the dollar weakened on prospects of monetary easing by the Federal Reserve, while simmering U.S.-Iran tensions boosted the safe-havens demand. Spot gold was trading 0.8 percent at $1,430.90 per ounce by 0528 GMT, having touched a high of $1,439.14 on Friday, its highest since May 14, 2013; and is headed for a sixth consecutive session of gains. U.S. gold futures jumped 1.6 percent to $1,440.20 an ounce






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#509

Post by B0N3 » Wed Jun 26, 2019 10:50 pm

Asia Roundup:
Kiwi gains as RBNZ stands pat, greenback rebounds after Fed tempers aggressive rate cut expectations, Asian shares plunge –
Wednesday, June 26th, 2019







Market Roundup

U.S. aims to restart China trade talks, will not accept conditions on tariff use

G20 summit draft communique calls for promotion of free trade – media

Fed pushes back on aggressive U.S. rate cut views

U.S. Special Counsel Mueller to testify before House panels on July 17 -statement

Trump threatens 'obliteration,' Iran calls White House 'mentally retarded'

N.Korea says U.S. extension of sanctions 'a hostile act' -KCNA

New Zealand cenbank stands pat, says more easing may be needed to support growth

Johnson courts financiers in race to become British PM -sources

U.S. border agency acting head leaving as House passes migrant aid funding bill

China c.bank sells 30 bln yuan of offshore bills in Hong Kong



Economic Data Ahead

(0245 ET/0645 GMT) France Jun Consumer Confidence, 100 f'cast, 99 prev



Key Events Ahead

(0400 ET/0800 GMT) BoE Executive Director, Prudential Policy, Victoria Saporta, speaks at Risk.net Liquidity & Funding Risk Europe in London

(0500 ET/0900 GMT) Opening remarks by ECB board member Yves Mersch at the ECB Legal Colloquium “The new challenges raised by investment arbitration for the EU legal order” in Frankfurt

(0515 ET/0915 GMT) BoE's Mark Carney and other interest rate-setters Jon Cunliffe, Silvana Tenreyro and Michael Saunders explain the economic forecasts and interest rate decisions included in May's Inflation Report in London

(1130 ET/1530 GMT) San Francisco Fed's Mary Daly speaks to The Forecasters Club of New York on “The Dual Mandate in a Flat Phillips Curve Environment” in New York



FX Beat

DXY: The dollar index steadied after falling to a 3-month low in the previous session, as investors dialled back expectations for aggressive U.S. rate cuts next month after Fed Chairman Jerome Powell stressed the central bank's independence from U.S. President Donald Trump, who is pushing for aggressive rate cuts. The greenback against a basket of currencies traded 0.1 percent up at 96.25, having touched a low of 95.84 on Tuesday, its lowest since Mar. 21. FxWirePro's Hourly Dollar Strength Index stood at -32.15 (Neutral) by 0400 GMT.

EUR/USD: The euro declined, extending previous session losses, as the greenback rebounded after U.S. Federal Reserve officials played down expectations of aggressive rate cuts. The European currency traded 0.1 percent down at 1.1355, having touched a high of 1.1412 earlier, its highest since Mar. 21. FxWirePro's Hourly Euro Strength Index stood at 32.49 (Neutral) by 0400 GMT. Investors’ attention will remain on ECB Mersch's speech, ahead of the U.S. prelim wholesale inventories, goods trade balance, durable goods orders, and a speech by Fed's Daly. Immediate resistance is located at 1.1437 (Mar. 21 High), a break above targets 1.1474 (Dec. 21 High). On the downside, support is seen at 1.1335 (Mar 20 Low), a break below could drag it below 1.1301 (Jun. 11 Low).

USD/JPY: The dollar bounced back from a near 6-month low hit in the previous session after Federal Reserve officials pushed back market expectations and presidential pressure for the central bank to deliver a significant U.S. interest rate cut of half a percentage point as soon as it’s next meeting. The pair was trading 0.3 percent up at 107.46, having hit a low of 106.78 the day before, its lowest since Jan. 3. FxWirePro's Hourly Yen Strength Index stood at -91.07 (Slightly Bearish) by 0400 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. prelim wholesale inventories, goods trade balance, durable goods orders, and a speech by Fed's Daly. Immediate resistance is located at 107.75 (50.0% retracement of 108.72 and 106.78), a break above targets 107.98 (61.8% retracement). On the downside, support is seen at 106.26 (Mar. 29, 2018), a break below could take it lower at 106.00.

GBP/USD: Sterling eased as investors turned cautious amid increasing risk of a no-deal Brexit stemming from the Conservative Party leadership contest. The major traded 0.1 percent down at 1.2670, having hit a high of 1.2783 on Tuesday, it’s highest since May 21. FxWirePro's Hourly Sterling Strength Index stood at -117.41 (Highly Bearish) 0400 GMT. Investors’ attention will remain on BoE Governor Carney's speech, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2743 (June 5 High), a break above could take it near 1.2798 (May 17 High). On the downside, support is seen at 1.2642(Jun. 21 Low), a break below targets 1.2611 (May 29 Low). Against the euro, the pound was trading 0.1 percent down at 89.63 pence, having hit a low of 89.63 earlier, it’s lowest since Jun. 18.

AUD/USD: The Australian dollar steadied near a 2-week peak, as investors cautiously awaited the Reserve Bank of Australia policy meeting next week, where it is widely expected to cut interest rates. The Aussie trades 0.1 percent up at 0.6965, having hit a high of 0.6978 on Tuesday, it’s highest since Jun. 10. FxWirePro's Hourly Aussie Strength Index stood at 64.47 (Bullish) by 0400 GMT. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6925 (June 12 Low), a break below targets 0.6881 (May 24 Low). On the upside, resistance is located at 0.6994 (June 6 High), a break above could take it near 0.7022 (June 7 High).

NZD/USD: The New Zealand dollar rallied to a near 3-week peak, after the Reserve Bank of New Zealand held the official cash rate at 1.5 percent at its policy meeting, but signalled another easing was likely given economic risks at home and abroad. The Kiwi trades 0.2 percent up at 0.6654, having touched a high of 0.6661, its highest level June 7. FxWirePro's Hourly Kiwi Strength Index was at 91.80 (Slightly Bullish) by 0400 GMT. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6681 (June 7 High), a break above could take it near 0.7729 (Apr. 18 High). On the downside, support is seen at 0.6540 (May 27 Low), a break below could drag it below 0.6474 (Oct. 4 Low).



Equities Recap

Asian shares plunged as the greenback rebounded from multi-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing.

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

Tokyo's Nikkei plunged 0.5 percent to 21,086.59 points, Australia's S&P/ASX 200 index tumbled 0.3 percent to 6,640.50 points and South Korea's KOSPI slumped 0.05 percent to 2,119.88 points.

Hong Kong’s Hang Seng traded 0.05 percent higher at 28,244.52 points. Taiwan shares shed 0.5 percent to 10,652.55 points.

Shanghai composite index declined 0.1 percent to 2,979.89 points, while CSI 300 index traded 0.05 percent down at 3,800.52 points.



Commodities Recap

Crude Oil prices rose to their highest in nearly a month as industry data showed U.S. crude stockpiles fell more than expected, underpinning a market already buoyed by worries over a potential U.S.-Iran conflict. International benchmark Brent crude was trading 0.3 percent higher at $65.97 per barrel by 0445 GMT, having hit a high of $66.10 earlier, its highest since May 31. U.S. West Texas Intermediate was trading 0.4 percent up at $58.94 a barrel, after rising as high as $59.08, its highest since the May 30.

Gold prices declined more than 1 percent, drifting away from a 6-year peak hit in the previous session, as U.S. Federal Reserve officials played down expectations of aggressive rate cuts. Spot gold was trading 1.1 percent down at $1,407.72 per ounce by 0449 GMT, having touched a high of $1,439.14 on Friday, its highest since May 14, 2013. U.S. gold futures fell 0.4 percent to $1,413.30 an ounce.






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#510

Post by B0N3 » Wed Jun 26, 2019 11:04 pm

Europe Roundup:
Sterling eases on no-deal Brexit fears, greenback rebounds as Fed quash bets on half-point July rate cut, euro tumbles as German consumer morale deteriorates – Wednesday, June 26th, 2019







Market Roundup

EUR/USD -0.02%, USD/JPY 0.43%, GBP/USD -0.01%, EUR/GBP -0.06%

DXY 0.13%, DAX 0.54%, FTSE 0.15%, Brent 1.29%, Gold -1.16%

U.S. Treasury Secretary says U.S.-China trade deal is 90% done – CNBC

BoE won't put no-deal Brexit into forecasts unless UK policy changes -Carney

Great Britain May Finance Mortgage Apps, 42.384k, 42.989k prev 42.898k rvsd

Germany Jul GfK Consumer Sentiment, 9.8, 10.0 f'cast, 10.1 prev

Iran's Khamenei says nation will not retreat in face of U.S. sanctions and “insults” – website

Trump-Xi meet, Iran tension to overshadow G20 summit in Japan

U.S. Special Counsel Mueller to testify before House panels on July 17 -statement

Bitcoin reaches 18-month high as Facebook's Libra spurs interest

Italy Q1 budget deficit narrows marginally y/y to 4.1% of GDP

U.S., N.Korea in behind-the-scenes talks over third summit, Moon says



Economic Data Ahead

(0830 ET/1230 GMT) The U.S. Census Bureau is likely to report that preliminary wholesale inventories rose 0.5 percent in April after posting a gain of 0.8 percent in March.

(0830 ET/1230 GMT) The United States releases goods trade balance data for the month of May. The economy recorded a trade deficit of $70.92 billion in the previous month.

(0830 ET/1230 GMT) The U.S. durable goods orders are expected to have increased 0.2 percent in May after declining 2.1 percent in April, while non-defence capital goods orders excluding aircraft are likely to have risen 0.1 percent after falling 1.0 percent the prior month.

(1030 ET/1430 GMT) The Energy Information Administration (EIA) reports its Crude Oil Stocks for the week ending June 21.



Key Events Ahead

(1130 ET/1530 GMT) Federal Reserve Bank of San Francisco President Mary Daly speaks to The Forecasters Club of New York on “The Dual Mandate in a Flat Phillips Curve Environment” in New York

N/A The sixth OPEC and non-OPEC ministerial meeting will be held in Vienna.



FX Beat

DXY: The dollar index gained as investors dialled back expectations for aggressive U.S. rate cuts next month after comments by Federal Reserve officials. The greenback against a basket of currencies traded 0.1 percent up at 96.24, having touched a low of 95.84 on Tuesday, its lowest since Mar. 21. FxWirePro's Hourly Dollar Strength Index stood at -12.08 (Neutral) by 1000 GMT.

EUR/USD: The euro plunged from a 3-month high after data showed Germany's consumer morale fell heading into July as the slowdown weighing on German economy undermined income expectations among shoppers. The European currency traded 0.05 percent down at 1.1361, having touched a high of 1.1412 on Tuesday, its highest since Mar. 21. FxWirePro's Hourly Euro Strength Index stood at 64.89 (Bullish) by 1000 GMT. Immediate resistance is located at 1.1437 (Mar. 21 High), a break above targets 1.1474 (Dec. 21 High). On the downside, support is seen at 1.1335 (Mar 20 Low), a break below could drag it below 1.1301 (Jun. 11 Low).

USD/JPY: The dollar rebounded from a near 6-month low recorded in the previous session as trade tensions slightly eased after a senior United States official stated that the country hopes to re-launch trade talks with China after President Donald Trump and President Xi Jinping meet in Japan on Saturday. The pair was trading 0.5 percent up at 107.70, having hit a low of 106.78 the day before, its lowest since Jan. 3. FxWirePro's Hourly Yen Strength Index stood at -170.05 (Highly Bearish) by 1000 GMT. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. prelim wholesale inventories, goods trade balance, durable goods orders, and a speech by Fed's Daly. Immediate resistance is located at 107.98 (61.8% retracement of 108.72 and 106.78), a break above targets 108.30 (78.6% retracement). On the downside, support is seen at 106.26 (Mar. 29, 2018), a break below could take it lower at 106.00.

GBP/USD: Sterling fell to a 5-day low after Boris Johnson, the top contender to replace Prime Minister Theresa May reaffirmed his commitment to take Britain out of the European Union with or without any agreement by Oct. 31. However, the British pound attempted a minor recovery after Bank of England Governor Mark Carney said the BoE won't put no-deal Brexit into its economic forecasts unless UK policy changes. The major traded 0.2 percent up at 1.2704, having hit a high of 1.2783 on Tuesday, it’s highest since May 21. FxWirePro's Hourly Sterling Strength Index stood at -34.25 (Neutral) 1000 GMT. Immediate resistance is located at 1.2743 (June 5 High), a break above could take it near 1.2798 (May 17 High). On the downside, support is seen at 1.2642 (Jun. 21 Low), a break below targets 1.2611 (May 29 Low). Against the euro, the pound was trading 0.1 percent up at 89.45 pence, having hit a low of 89.73 earlier, it’s lowest since Jun. 18.

USD/CHF: The Swiss franc eased, extending prior session losses, as the greenback rebounded after U.S. Federal Reserve officials played down expectations of aggressive rate cuts. The major trades 0.2 percent up at 0.9775, having touched a low of 0.9693 o Tuesday; it’s lowest since Sept. 25. FxWirePro's Hourly Swiss Franc Strength Index stood at -134.20 (Highly Bearish) by 1000 GMT. On the higher side, near-term resistance is around 0.9817 (38.2% retracement 1.0014 and 0.9693) and any break above will take the pair to next level till 0.9893 (61.8% retracement). The near-term support is around 0.9635 (Sept. 25), and any close below that level will drag it till 0.9600 (Sept. 18 Low).



Equities Recap

European shares advanced, boosted by gains in the energy stocks as oil prices surged in the face of worries about U.S.-Iran relations.

The pan-European STOXX 600 Index gained 0.1 percent at 383.81 points, while the FTSEurofirst 300 surged 0.2 percent to 1,512.43 points.

Britain's FTSE 100 trades 0.1 percent up at 7,432.31 points, while mid-cap FTSE 250 rallied 0.1 to 19,287.94 points.

Germany's DAX rose 0.6 percent at 12,295.98 points; France's CAC 40 trades 0.2 percent higher at 5,524.24 points.




Commodities Recap

Crude Oil prices rallied to their highest level in nearly a month, boosted by an outage at a major refinery on the U.S. East Coast and industry data that showed U.S. crude stockpiles fell more than expected. International benchmark Brent crude was trading 0.1 percent higher at $65.85 per barrel by 0956 GMT, having hit a high of $66.24 earlier, its highest since May 31. U.S. West Texas Intermediate was trading 0.2 percent up at $58.85 a barrel, after rising as high as $59.11, its highest since the May 30.

Gold prices declined more than 1 percent, hovering away from a 6-year peak hit in the previous session, as U.S. Federal Reserve officials played down expectations of aggressive rate cuts. Spot gold was trading 1.1 percent down at $1,407.61 per ounce by 0958 GMT, having touched a high of $1,439.14 on Friday, its highest since May 14, 2013. U.S. gold futures fell 0.6 percent to $1,410.60 an ounce.





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