Asia Markets Update On December 30th, 2019

Asia Markets Update On December 30th, 2019

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Aussie hits fresh 5 – month high at $0.6999 Mark, Asian markets mixed, Gold stabilizes above $1,510 Mark - Monday, December 30, 2019.

Market Roundup

  • South Korea’s industrial production y/y stands at -0.3 pct vs -2.1 pct previous release (expected -1.4).
  • South Korea’s retail sale stands at 3.0 pct vs -0.4 pct previous release.

Economic Data Ahead

  • (0230 ET/0730 GMT) Thailand current account, trade balance.
  • (0300 ET/0800 GMT) Swiss KOF leading indicator.
  • (0300 ET/0800 GMT) Spain CPI, GDP, HICP.
  • (0330 ET/0830 GMT) Hong Kong Trade balance.
  • (0400 ET/0900 GMT) Spain current account.
  • (0430 ET/0930 GMT) UK mortgage approval.

Key Events Ahead

  • No key events scheduled for the day.

FX Recap

USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.08% to 96.85.

EUR/USD: The euro strengthens remarkably against U.S. dollar and touches $1.1210 mark. The pair is currently trading around $1.1195 mark. A sustained close above $1.1175 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 $1.1075 will drag the parity down towards key supports around $1.1050, $1.1017, $1.0919 and $1.0852 levels respectively.

USD/JPY: The Japanese yen trades marginally higher on Monday. The pair is currently trading around 109.16 mark. A sustained close above 109.62 is required to take the parity higher towards key resistances around 110.50, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 109.31 will drag the parity down towards key support around 108.40, 106.90 and 104.20 marks respectively.

GBP/USD: The Pound rises gradually against U.S. dollar and jumps above $1.31 mark. A sustained close below $1.2935 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 $1.3134, $1.3335, $1.3422 and $1.3515 levels respectively.

AUD/USD: The Aussie rises drastically against U.S. dollar and touches $0.6999 mark in early Asia. Pair made intraday high at $0.6999 and low at $0.6978 mark. A consistent close below $0.6980 requires for downside rally towards $0.6921, $0.6838 and $0.6704 mark respectively. On the other side, a sustained close above $0.6980 will take the parity higher towards $0.7002, $0.7076 and $0.7122 levels respectively.

NZD/USD: The Kiwi appreciates on Monday and touches $0.6719 mark. The pair is currently trading flat around $0.6713 mark. A sustained close above $0.6697 requires for the upside rally. Alternatively, a consistent close below $0.6697 will take the parity down towards key supports around $0.6637, $0.6502, $0.6424, $0.6323, $0.6236 and $0.6196 levels respectively.

Equities Recap

  • Japan’s Nikkei was trading 0.67 pct lower at 23,677.55 points.
  • Australia’s S&P/ASX200 was trading 0.25 pct lower at 6,804.20 points.
  • Hong Kong’s Hang seng was trading 0.53 pct higher at 28,379.00 points.
  • South Korea’s Kospi was trading 0.20 pct lower at 2,200.81 points.
  • Taiwan’s TWII was trading 0.25 pct lower at 12,053.45 points.
  • India’s NSE was trading 0.06 pct lower at 12,237.50 points and BSE sensex points 0.08 pct lower at 41,542.40 points.

Commodities Recap

  • Gold rises noticeably on Monday. A sustained close above $1,510 requires for the upside rally. On the other side, a consistent close below $1,502 will drag the parity down towards key supports around $1,490, $1,472, $1,458, $1,440, $1,422 and $1,407 mark respectively. On the top side, key resistances are seen at $1,517, $1,532 and $1,558 mark respectively.
  • Oil price trades slightly up on Monday. Brent crude was up 18 cents at $67.05 a barrel. WTI was up 8 cents at $61.80 a barrel.

Treasuries Recap

  • The yield on Australia’s benchmark 10-year note, which moves inversely to its price, trades higher to  1.311 percent, the yield on the long-term 15-year bond trades flat to 1.419 percent and the yield on short-term 2-year fell nearly 0.003 pct to 0.901 percent.
  • The yield on the benchmark 10 - year JGB note, which moves inversely to its price, trades slightly down to -0.020 points, the yield on the long-term 30 - year fall -0.011 pct to 0.416 points and the yield on short-term 2 - year fell to -0.127 points.

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