Posted at 04 November 2019 / Categories Market Roundups
Market Roundup
Economic Data Ahead
Key Events Ahead
FX Recap
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.03% to 97.21.
EUR/USD: The euro trades flat against U.S. dollar and currently trading around $1.1165 mark. It made intraday high at $1.1173 and low at $1.1159 mark. A sustained close above $1.1169 will drag the parity higher towards key resistances around $1.1220, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively. On the other hand, a consistent close below $1.1151 will drag the parity down towards key supports around $1.1079, $1.1026 and $1.0852 levels respectively.
USD/JPY: The Japanese yen remains almost unchanged as Japanese banks will be closed in observance of Culture Day. The pair is currently trading around 108.23 mark. It made intraday high at 108.25 and low at 108.18 levels. A sustained close above 108.16 is required to take the parity higher towards key resistances around 108.83, 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 108.02 will drag the parity down towards key support around 106.90 and 104.20 marks respectively.
GBP/USD: The pound trades marginally higher against U.S. dollar and stabilizes below $1.2950 mark. UK parliament approves early general election on December 12. A sustained close below $1.2940 requires for dragging the parity down towards key support around $1.2820, $1.2644 and $1.2352 mark respectively. On the other side, key resistances are seen at $1.2973, 1.3058, 1.3140 and 1.3226 levels respectively. UK’s constructions PMI due today at 0930 GMT will provide further directions to the parity.
AUD/USD: The Aussie depreciates in early Asia after lower than expected retail sales data. The pair made intraday high at $0.6923 and low at $0.6903 levels. A consistent close below $0.6893 requires for downside rally towards $0.6704 mark. On the other side, a sustained close above $0.6912 will take the parity higher towards $0.6977 and $0.7076 levels respectively.
NZD/USD: The New Zealand dollar strengthens remarkably on Monday and hits fresh 3 – month high at $0.6464 mark. Pair made intraday high at $0.6464 and low at $0.6427. A sustained close above $0.6422 requires for the upside rally. Alternatively, a consistent close below $0.6349 will take the parity down towards key supports around $0.6236 and $0.6196 levels respectively.
Equities Recap
Japanese banks will be closed in observance of Culture Day.
Australia’s S&P/ASX200 was trading 0.27 pct higher at 6,686.90 points.
Hong Kong's hang seng index was trading 1.44 percent higher at 27,494.48 points.
Taiwan stock was trading 1.38 percent higher at 11,556.37 points.
South Korea’s kospi was trading 1.45 percent higher at 2,130.42 points.
India’s NSE Nifty was trading 0.46 pct higher at 11,947.80 points while BSE sensex was trading 0.42 points higher at 40,338.15 points.
Commodities Recap
U.S. Crude Oil WTI Futures dropped 0.6% to $55.88. International Brent Oil Futures fell 0.5% to $61.36.
Gold trades flat on Monday and stabilizes above $1,510 mark. Gold faces strong resistance at $1,513 mark and sustained close above targets key resistances around $1,532 and $$1,552 mark respectively. Alternatively, a consistent close below $1,502 mark will drag the parity down towards $1,487, $1,472 and $1,440 mark respectively.
Treasuries Recap
The Australian government bonds plunged during Asian session of the first trading day of the week as investors remained disappointed by retail sales data for the month of September. The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped nearly 6-1/2 basis points to 1.170 percent, the yield on the long-term 30-year bond surged nearly 6 basis points to 1.744 percent and the yield on short-term 2-year gained nearly 2-1/2 basis points to 0.857 percent.