Posted at 08 October 2020 / Categories Market Roundups
Market Roundup
•Swiss Sep Unemployment Rate n.s.a. 3.2%,3.3% forecast, 3.3% previous
•Swiss Unemployment Rate n.s.a. 3.3%,3.4% forecast, 3.4% previous
•German Aug Trade Balance 15.7B, 18.2B forecast, 18.0B previous
•German Aug Imports (MoM) 5.8%,1.4% forecast, 1.1% previous
•German Aug Exports (MoM) 2.4%,1.4% forecast, 4.7% previous
•German Aug Current Account Balance n.s.a 16.5B, 20.0B previous
•Irish Sep HICP (MoM) -0.4% -0.1% previous
•Irish Sep HICP (YoY) -1.2%, -1.1% previous
•Irish Sep CPI (MoM) -0.4%, -0.1% previous
Looking Ahead - Economic Data (GMT)
•12:00 Brazil Aug Retail Sales (MoM) 3.1% forecast, 5.2% previous
•12:00 Brazil Aug Retail Sales (YoY) 7.0% forecast, 5.5% previous
•12:30 Canada Sep Housing Starts 240.0K forecast, 262.4K previous
•12:30 US Jobless Claims 4-Week Avg 867.25K previous
•12:30 US Initial Jobless Claims 820K forecast, 837K previous
•12:30 US Continuing Jobless Claims 11,400K forecast, 11,767K previous
•12:30 Canada Aug Building Permits (MoM) -3.0% previous
•13:00 Russia Central Bank reserves (USD) 580.7B previous
Looking Ahead - Economic events and other releases (GMT)
•18:25 US FOMC Member Barkin Speaks
•22:00 US FOMC Member Kaplan Speaks
•12:30 Canada BoC Gov Council Member Macklem Speaks
Fxbeat
EUR/USD: The euro edged lower against dollar on Thursday as investors awaited European Central Bank meeting minutes. ECB meeting minutes for the September meeting are due at 1130 GMT. Investors will be scrutinising them for comments about euro strength. Recent comments by ECB policymakers have curbed market expectations for a rate cut. At GMT (11:30), the euro dipped 0.03% to $1.1771 against dollar. Immediate resistance can be seen at 1.1795 (Daily high), an upside break can trigger rise towards 1.1811 (Oct 6th high).On the downside, immediate support is seen at 1.1737 (9DMA), a break below could take the pair towards 1.1711 (38.2% fib).
GBP/USD: Sterling inched up against dollar on Thursday as prospects for a Brexit deal appeared to improve, with Britain giving it a 66% chance of success and a media report suggesting officials might be more optimistic than they were letting on in public. British Prime Minister Boris Johnson and European Council President Charles Michel agreed on Wednesday that some progress had been made in talks on a trade deal, though significant differences remained. The pound was last trading up 0.3% against the U.S. dollar. Immediate resistance can be seen at 1.2966 (50%fib), an upside break can trigger rise towards 1.3000(Psychological level).On the downside, immediate support is seen at 1.2863 (11 DMA), a break below could take the pair towards 1.2820 (38.2 % fib).
USD/CHF: The dollar strengthened against the Swiss franc on Thursday after the revival of hopes for some U.S. stimulus spending improved investor sentiment. President Donald Trump and House Speaker Nancy Pelosi seem open to pursuing a stimulus package for the airline industry, despite Trump halting talks with Democrats for a bigger plan. Investors also expect a Joe Biden administration, if elected, would quickly spend money to stimulate growth. At 12:00 GMT, the dollar was 0.10 percent higher versus the Swiss franc at 0.9180. Immediate resistance can be seen at 0.9184 (Daily high), an upside break can trigger rise towards 0.9198 (50% fib).On the downside, immediate support is seen at 0.9153 (38.2% fib), a break below could take the pair towards 0.9132(Oct 6th low).
USD/JPY: The dollar strengthened against the Japanese yen on Thursday as revival of hopes for some U.S. spending improved investor sentiment and appetite for riskier currencies. President Donald Trump and House Speaker Nancy Pelosi seem open to pursuing a stimulus package for the airline industry, even though Trump halted talks with Democrats for a bigger plan. Investors also expect Joe Biden, if elected, would quickly spend money to stimulate growth. That mood has lifted equity markets and sunk the yen to a three-week low of 106.11. Strong resistance can be seen at 106.14 (Oct 7th high), an upside break can trigger rise towards 106.45 (Higher BB).On the downside, immediate support is seen at 105.83 (38.2%fib), a break below could take the pair towards 105.60 (11 DMA).
Equities Recap
European stock index futures rose on Tuesday after European Union leaders reached a “historic” deal on a massive stimulus plan for their coronavirus-hit economies.
At (GMT 11:30 ),UK's benchmark FTSE 100 was last trading up at 0.45 percent, Germany's Dax was up by 0.60 percent, France’s CAC finished was up by 0.45 percent.
Commodities Recap
Gold prices rose on Thursday, helped by a softer dollar and renewed optimism over some U.S. coronavirus relief aid, with investors eyeing the weekly jobless claims data to further gauge the health of the world’s largest economy.
Spot gold rose 0.3% to $1,892.01 per ounce by 0727 GMT. U.S. gold futures were up 0.3% at $1,896.
Oil rose above $42 a barrel on Thursday, supported by output shutdowns in the U.S. Gulf of Mexico and the prospect of more supply losses in Norway, as well as by hopes for some U.S. coronavirus relief aid.
Brent crude rose 67 cents, or 1.6%, to $42.66 a barrel by 1044 GMT, after falling 1.6% on Wednesday. U.S. West Texas Intermediate (WTI) crude added 52 cents, or 1.3%, to $40.47 after falling 1.8% on Wednesday.