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POPULAR NEWS
Gold Pares Weekly Gain After Kudlow's Comments on Deal

Gold declined, trimming its fourth weekly gain in five, after White House economic adviser Larry Kudlow signaled progress on a trade deal with China. Spot gold as much as -0.3% to $1,466.90/oz and traded at $1,468.50 at 9:56am in Singapore; +0.6% this week. Bloomberg Dollar Spot Index -0.1%. Other precious metals: Spot silver -0.2% to $16.9965/oz. Palladium +0.1% to $1,741.21/oz. Platinum +0.2% to $882.52/oz. Source: Bloomberg

Dollar buoyed by caution as trade deal optimism wanes

The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a Sino-U.S. trade truce put investors in a risk-averse mood. The dollar clawed back some of the ground it gave to the safe-haven yen overnight, rising 0.1% to buy 108.55 yen, and kept hold of overnight gains against the Australian and New Zealand dollars. Against a basket of currencies, the dollar last traded at 98.163. The euro was stable at $1.1020. Moves were slight as...

Hong Kong Stocks Close Flat, Ending Tough Week

Hong Kong shares finished barely moved Friday, bringing an end to a tumultuous week that has seen the city crippled by violent protests, which show no sign of abating. The Hang Seng Index inched up 2.97 points to 26,326.66. The benchmark Shanghai Composite Index lost 0.64 percent, or 18.53 points, to 2,891.34 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dived 1.13 percent, or 18.43 points, to 1,605.70. Source : AFP

Dollar Flat After Powell Plays Down Further Cuts

The dollar was mostly flat in early trade in Europe on Friday amid a lull in news ahead of more U.S. economic data later in the day. The greenback is on course for a modest loss of around 0.2% this week, drifting as the world waits for China and the U.S. tie up an elusive trade truce. The threat of a Chinese crackdown on unrest in Hong Kong is also keeping markets on edge. President Xi Jinping urged the city™s chief executive Carrie Lam to clamp down on protests on late on Thursday, urging...

Topix Extends Gain After Kudlow Remark on U.S.-China Trade Talks

Japan's Topix extended its advance following remarks from White House economic adviser Larry Kudlow that negotiations over a trade deal with China were coming down to the final stages. Electronics makers and service-sector companies propelled gains in the benchmark, rebounding from its biggest two-day decline in six weeks. The Nikkei 225 Stock Average also rose after fluctuating in early trading. Topix +0.8% to 1,697.83 at the trading break in Tokyo. Gauge -0.9% on Thursday, extending...

AUD/JPY rises to 3-week high after Australia's trade balance data
Thursday, 5 September 2019 09:22 WIB | CURRENCIES | YenAussie

Despite weaker than expected and prior Australian trade balance numbers, AUD/JPY escalates its previous run-up to fresh three-week high while taking the bids to 72.70 during early Thursday.

Australia's July month trade numbers flashed mixed outcomes as the headlines Trade Balance slipped beneath 7,400M forecast and 8,036M prior to 7,268M actual while Imports grew 3% versus -4% prior contraction. Further, Exports remain unchanged with 1% growth.

It should also be noted that upbeat comments from the Fed™s Beige Book, Bank of Canada (BOC) and a lack of dovish statements from the Fed speakers offered additional assurance to risk-takers. Furthermore, the latest news from China™s Commerce Ministry that the US-China trade talks will take place in October in Washington adds strength to the market bulls.

As a reaction, the US 10-year treasury yields are gaining nearly six basis points (bps) to 1.516% by the press time.

Having witnessed initial reaction to Australia™s trade balance, investors are left with no major data from either Australia or Japan, which in turn increases the importance of trade/political news headlines to determine near-term pair moves.

Technical Analysis

The pair™s needs a sustained break above 72.37/38 area including falling trend-line since August 02 and 38.2% Fibonacci retracement of July-August downpour in order to aim for 73.18/22 area including August 02 high and 50-day exponential moving average (EMA). If prices fail to hold recent upside momentum, 21-day EMA level of 72.12 and August 29 top surrounding 71.80 could flash on the sellers™ radar.

Source: FXstreet

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POPULAR NEWS
Gold Pares Weekly Gain After Kudlow's Comments on Deal

Gold declined, trimming its fourth weekly gain in five, after White House economic adviser Larry Kudlow signaled progress on a trade deal with China. Spot gold as much as -0.3% to $1,466.90/oz and traded at $1,468.50 at 9:56am in Singapore; +0.6% this week. Bloomberg Dollar Spot Index -0.1%. Other precious metals: Spot silver -0.2% to $16.9965/oz. Palladium +0.1% to $1,741.21/oz. Platinum +0.2% to $882.52/oz. Source: Bloomberg

Dollar buoyed by caution as trade deal optimism wanes

The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a Sino-U.S. trade truce put investors in a risk-averse mood. The dollar clawed back some of the ground it gave to the safe-haven yen overnight, rising 0.1% to buy 108.55 yen, and kept hold of overnight gains against the Australian and New Zealand dollars. Against a basket of currencies, the dollar last traded at 98.163. The euro was stable at $1.1020. Moves were slight as...

Hong Kong Stocks Close Flat, Ending Tough Week

Hong Kong shares finished barely moved Friday, bringing an end to a tumultuous week that has seen the city crippled by violent protests, which show no sign of abating. The Hang Seng Index inched up 2.97 points to 26,326.66. The benchmark Shanghai Composite Index lost 0.64 percent, or 18.53 points, to 2,891.34 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dived 1.13 percent, or 18.43 points, to 1,605.70. Source : AFP

Dollar Flat After Powell Plays Down Further Cuts

The dollar was mostly flat in early trade in Europe on Friday amid a lull in news ahead of more U.S. economic data later in the day. The greenback is on course for a modest loss of around 0.2% this week, drifting as the world waits for China and the U.S. tie up an elusive trade truce. The threat of a Chinese crackdown on unrest in Hong Kong is also keeping markets on edge. President Xi Jinping urged the city™s chief executive Carrie Lam to clamp down on protests on late on Thursday, urging...

Topix Extends Gain After Kudlow Remark on U.S.-China Trade Talks

Japan's Topix extended its advance following remarks from White House economic adviser Larry Kudlow that negotiations over a trade deal with China were coming down to the final stages. Electronics makers and service-sector companies propelled gains in the benchmark, rebounding from its biggest two-day decline in six weeks. The Nikkei 225 Stock Average also rose after fluctuating in early trading. Topix +0.8% to 1,697.83 at the trading break in Tokyo. Gauge -0.9% on Thursday, extending...

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