• America's roundup: Dollar gains vs. yen,as risk sentiment improves,Wall street rises, Gold slips, Oil steadies as U.S. Crude stocks draw but fuel inventories rise-aug 22nd, 2019

    Source: FxWire Pro - Media Round Ups / 21 Aug 2019 17:20:49   America/New_York

    Market Roundup

    • Canada Jul Core CPI (YoY) 2.0%, 2,0 % previous

    • Canada Jul Core CPI (MoM) 0.3%, 0.0 % previous

    • Canada CPI Jul (MoM) 0.5%,0.2 forecast,-0.2 previous

    • US Jul Existing Home Sales (MoM) 2.5%, 2.5%, forecast ,-1.3% previous

    • US Jul Existing Home Sales  5.42M,5.39M forecast,5.29M previous
     
    Looking Ahead - Economic Data (GMT)

    • 19:00 Australia Manufacturing PMI 51.9 previous

    • 19:00 Australia Manufacturing PMI 51.9 previous

    •19:50 Japan Foreign Bond Buying 173.1B previous

    • 19:50 Japan Foreign Investments In Japanese Stock 187.0B previous

    • 20:30 Japan Manufacturing PMI 49.8 forecast,49.4 previous

    • 21:30 Australia Construction Work Done QoQ -1.9 previous

    • 00:30 Japan All Industries Activity Index (MoM) -0.7 forecast,  0.3 previous

    Looking Ahead - Events, Other Releases (GMT)

    •  07:30 ECB Publishes Account of Monetary Policy Meeting 

    Currency Summaries

    EUR/USD:The euro was little changed against dollar on Wednesday,as forex markets remained mostly calm ahead of a crucial meeting of central bankers later this week. With markets rushing to price significant easing from central banks in the United States and Europe, the outlook for euro/dollar will depend largely on whether or not policymakers live up to those expectations. The euro was last down 0.1% at $1.1092. The dollar, measured against a basket of currencies, rose 0.1% to 98.265.Immediate resistance can be seen at 1.1129 (9 DMA), an upside break can trigger rise towards 1.1141 (21 DMA).On the downside, immediate support is seen at 1.1065 (21 Aug low), a break below could take the pair towards 1.1000 (Psychological level).
     

    GBP/USD: The pound declined against dollar on Wednesday, as worries over a no-deal Brexit clouded investor appetite for the currency despite German Chancellor Angela Merkel suggesting on Tuesday that there might be room for negotiation. British Prime Minister Boris Johnson is due to meet Merkel on Wednesday ahead of a G7 meeting at the weekend and is expected to tell the chancellor that unless she agrees to change the Brexit deal, Britain will leave the European Union on Oct. 31 without a deal. The pound was down 0.2% at $1.2145, retreating from the 12-day high of $1.2180 reached on Tuesday. It has risen, however, by 0.8% since mid-August lows. Immediate resistance can be seen at 1.2174 (21 DMA), an upside break can trigger rise towards 1.2250 (31st July High).On the downside, immediate support is seen at 1.2060 (20th Aug Low), a break below could take the pair towards 1.2000 (Psychological level).

    USD/CAD:  The Canadian dollar strengthened against its U.S. counterpart on Wednesday, rebounding from two-month low it hit the previous session, after stronger-than-expected domestic inflation data. Canada’s annual inflation rate held steady in July at 2.0% as lower costs for services were offset by higher prices for durable goods. Analysts had expected the annual rate to fall to 1.7% from 2.0% in June.The Canadian dollar was last trading 0.4% higher at 1.3292 to the greenback . The currency, which on Tuesday touched its weakest intraday level since June 19, was trading in a range of 1.3254 to 1.3324. Immediate resistance can be seen at 1.3326 (Daily High), an upside break can trigger rise towards 1.3400  (Psychological level).On the downside, immediate support is seen at 1.3232 (21 DMA), a break below could take the pair towards 1.3181 (13 Aug Low).

    USD/JPY: The U.S. dollar edged higher against the yen on Wedneday, as risk appetite further improved with global stocks and U.S. yields higher ahead of an annual Federal Reserve gathering later this week in Jackson Hole, Wyoming and a summit of major central banks this weekend.Market participants are waiting for any statement from the Fed and other global monetary authorities meeting at a Group of Seven summit this weekend on possible measures to lift slumping economies around the world. The dollar rose 0.3% against the yen to 106.59 yen, gaining in four of the last five sessions.Strong resistance can be seen at 106.92 (21 DMA), an upside break can trigger rise towards 107.57 (50 DMA).On the downside, immediate support is seen at 106.00 (Psychological level), a break below could take the pair towards 105.65 (Aug 14th low). 

    Equities Recap

    European stocks closed higher on Wednesday as hopes for more monetary and fiscal stimulus helped assuage worries about global recession, political turmoil in Italy and endless trade wars.

    The UK's benchmark FTSE 100 closed up by 1.11 percent, Germany's Dax ended up by 1.30 percent, and France’s CAC finished the up by 1.70 percent.

    U.S. stocks closed higher on Wednesday ,as strong results from Lowe's and Target boosted retailers,while investors awaited minutes from the Federal Reserve's Julypolicy meeting due later in the day..

    Dow Jones closed up by 0.93 percent, S&P 500 ended up 0.83 percent, Nasdaq finished the day up by 0.90 percent.

    Treasuries Recap

    U.S. Treasury yields rose on Wednesday as rising stock prices reflected improving risk sentiment, and as investors awaited the release of minutes from the Federal Reserve’s July meeting.

    Benchmark 10-year notes  were last down 9/32 in price to yield 1.589%, up from 1.559% late on Tuesday.The two-year, 10-year yield curve  was steady at 4 basis points.

    Commodities Recap

    Gold edged lower on Wednesday as equities gained and investors awaited minutes from the U.S. Federal Reserve’s July meeting for clues on future interest rate cuts.

    Spot gold was down 0.2% at $1,504.00 per ounce at 1:45 p.m. EDT (1745 GMT).U.S. gold futures settled at $1,515.70.

    Oil futures steadied on Wednesday after U.S. government data showed a drawdown in domestic crude stocks but rises in refined product inventories, while lingering worries about the global economy weighed on the market.

    Brent crude futures   rose 27 cents to settle at $60.30 a barrel, down from a session high of $61.41.

    U.S. West Texas Intermediate (WTI) crude   fell 45 cents to settle at $55.68 a barrel, after hitting $57.13 a barrel.

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