Europe Roundup: British pound rises on weakening US dollar, political risks limit rally, European shares gain,Gold firms, Oil gians as weak greenback and tight supply supports-July 18th,2022
America’s Roundup: Dollar edges down, Wall Street ends mixed , Gold gains, Oil prices hit lowest level since the invasion of Ukraine on recession fears-August 5th,2022
Europe Roundup: Sterling slips as BoE delivers big rate hike but warns of long recession,European shares gains, Gold gains over 1%, Oil prices stabilize after drop to near 6-month low-August 4th,2022
Europe Roundup: Euro falls as gloomy PMIs cloud prospects for future ECB hikes, European shares edge higher, Gold little changed, Oil prices fall as Libya resumes output, global demand outlook darkens-July 22nd,2022
Europe Roundup: Euro dips against dollar ahead of US GDP data, European shares mixed, Gold hits a three-week high, Oil extends gains as risk appetite improves, U.S. inventories fall-July 28th,2022
America’s Roundup: Dollar slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,2022
America’s Roundup: Dollar jumps vs yen as Fed officials hint more rate hikes coming, Wall Street dips, Gold near 1-month high, Oil edges up ahead of OPEC meeting despite recession worries-August 3rd,2022
Europe Roundup: Euro gains against dollar ahead of a U.S. Federal Reserve meeting, European shares gains, Gold steadies, Oil rises in volatile trade-July 25th, 2022
America’s Roundup: Dollar slides as mixed U.S. data highlights uncertain path , Wall Street ends higher, Gold gains, Oil up over $2 per barrel as hopes fade for OPEC+ supply boost-July 30th,2022
Europe Roundup:Euro gains on upbeat Eurozone GDP data, European shares rises, Gold gains,Oil prices rise as chances of OPEC+ supply boost dim-July 29th,2022
Europe Roundup: British pound falls against dollar on gloomy BoE outlook, European shares dips,Gold falls, Oil prices set to end week at multi-month lows on recession fears-August 5th,2022
America’s Roundup: Dollar bounces from two-week low, Wall Street closes higher, Gold prices dip, Oil falls on lackluster U.S. summer gasoline demand-July 21st,2022
Europe Roundup: Sterling dips as economic outlook darkens rate view, European shares mixed in cautious trade,Gold steadies, Oil rises for a second day on supply tightness concerns-July 26th,2022
America’s Roundup: Dollar falls ahead of Fed meeting,Wall Street closes on mixed note,Gold dips, Oil rises as Russian gas cut to Europe may encourage switching to crude-July 26th,2022
Europe Roundup: Sterling drifts higher but capped by weak data, European shares gain, Gold ticks up, Oil rises on U.S. inventory drop, Russian gas cuts-July 27th,2022
America’s Roundup: Dollar dips as U.S. growth falls in Q2,Wall Street rises, Gold gains, Oil mixed as U.S. gasoline demand rebounds but recessionary fears loom-July 29th,2022
America’s Roundup: Dollar bounces from two-day slide,Wall Street plunges, Gold gains, Oil rebounds as new Iran sanctions fuel more supply concerns-June 17th,2022
•US Jun Philly Fed Business Conditions -6.8,2.5 previous
•US Initial Jobless Claims 229K,215K forecast,229K previous
•US Continuing Jobless Claims 1,312K, 1,302K forecast,1,306K previous
•US Jobless Claims 4-Week Avg 218.50K,215.00K previous
•Canada Apr Wholesale Sales (MoM) -0.5%, 0.2% forecast,0.3% previous
•US Jun Philly Fed Employment 28.1 ,25.5 previous
•US May Building Permits (MoM) -7.0%,-3.0% previous
•US Jun Philadelphia Fed Manufacturing Index -3.3, 5.5 forecast, 2.6 previous
•US May Housing Starts 1.549M,1.701M forecast, 1.724M
•US May Building Permits 1.695M, 1.785M forecast, 1.823M previous
•US Housing Starts (MoM) -14.4%,-0.2% previous
•15:30 US 8-Week Bill Auction 1.470%, 1.150% previous
•15:30 US 4-Week Bill Auction 1.180%, 1.040% previous
Looking Ahead Economic Data
• 02:45 Japan BoJ Interest Rate Decision -0.10% previous
Looking Ahead - Events, Other Releases (GMT)
• 02:45 Japan BoJ Monetary Policy Statement
EUR/USD: The euro strengthened against dollar on Thursday as the single currency garnered support from the European Central Bank’s decision mid-week on fresh support to contain borrowing costs among southern nations. The SNB hike helped put fresh pressure on European bond prices as investors ramped up bets for ECB rate hikes. Germany's 10-year yield, the benchmark for the bloc, jumped as much as 26 basis points at one point.Immediate resistance can be seen at 1.0499(38.2%fib),an upside break can trigger rise towards 1.0587(50%fib).On the downside, immediate support is seen at 1.0395(23.6%fib), a break below could take the pair towards 1.0361(Lower BB).
GBP/USD: Sterling hit one week-highs against the dollar and euro on Thursday, recouping earlier losses, amid broad weakness in the greenback, as investors bet on a more aggressive tightening by the Bank of England (BoE) over the next few meetings, in line with recent moves from other major central banks. Sterling posted its largest daily percentage gain versus the dollar since October 2020. Against the euro, the pound had its best day since early May. The BoE on Thursday raised interest rates by a quarter of a percentage point, confounding forecasts by some market participants who were looking for a bigger hike to fight soaring inflation. Immediate resistance can be seen at 1.2358(38.2%fib),an upside break can trigger rise towards 1.2414 (Daily high).On the downside, immediate support is seen at 1.2215(5DMA), a break below could take the pair towards 1.2119(23.6%fib).
USD/CAD: The Canadian dollar weakened against its U.S. counterpart on Thursday as oil prices fell and interest rate hikes by central banks around the world added to investor worries that tighter monetary policy could derail economic growth. Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to the outlook for the global economy. Oil fell 2.1% to $112.91 a barrel, while the Canadian dollar was trading 0.4% lower at 1.2944 to the greenback .It traded in a range of 1.2862 to 1.2958, after touching on Wednesday its lowest intraday level in more than one month at 1.2995. Immediate resistance can be seen at 1.2989 (23.6%fib), an upside break can trigger rise towards 1.3012 (Higher BB).On the downside, immediate support is seen at 1.2924 (5 DMA), a break below could take the pair towards 1.2871 (38.2%fib).
USD/JPY: The dollar dipped against Japanese yen on Thursday ahead of Bank of Japan rate decision . The Bank of Japan is likely to maintain ultra-low interest rates in its policy meeting on Friday and stress its resolve to support a fragile economy with massive stimulus, a move that may further weaken the yen by highlighting a policy divergence with the rest of the world. The dollar clawed its way back from a one-week low against major peers, following a two-day slide after the Federal Reserve’s mid-week rate increase that, although the biggest since 1995, didn’t exceed market expectations. The dollar index, which measures the currency against six peers including the yen, rose 0.16% to 104.05, slipping to the lowest since June 10 at 103.41 overnight. Strong resistance can be seen at 134.02 (5DMA), an upside break can trigger rise towards 135.34(23.6%fib).On the downside, immediate support is seen at 131.78 (38.2%fib), a break below could take the pair towards 131.83(50%fib).
European stocks fell sharply on Thursday as fears mounted that the Fed might trigger a recession sometime in the next year with its aggressive rate action.
UK's benchmark FTSE 100 closed down by 3.14 percent, Germany's Dax ended down by 3.31 percent, France’s CAC finished the day down by 2.39 percent.
U.S. stock indexes closed sharply lower on Thursday in a broad sell-off as recession fears grew following moves by central banks around the globe to stamp out rising inflation after the Federal Reserve's largest rate hike since 1994.
Dow Jones closed down by 2.42% percent, S&P 500 closed down by 3.25 % percent, Nasdaq settled down by 4.08% percent.
U.S. Treasury yields fell on Thursday as fears of a recession dented risk appetite and boosted demand for safe haven U.S. debt, a day after the Federal Reserve hiked its benchmark interest rate by the most since 1994.
Benchmark 10-year yields dipped to 3.307%, after reaching 3.498% on Tuesday, the highest since April 2011.
Gold rose 1% in volatile trade on Thursday as the dollar pulled back sharply on the U.S. central bank’s aggressive policy outlook, bringing some of the safe-haven lure back to the metal.
Spot gold was last up 0.9% at $1,849.68 per ounce by 1:54 p.m. ET (1754 GMT). U.S. gold futures settled up 1.7% at $1,849.90.
Oil prices rose on Thursday in topsy-turvy trading after the United States announced new sanctions on Iran, and as energy markets stayed focused on supply concerns that have sent prices soaring this year.
Brent crude futures settled at $119.81, up $1.30, or 1.1%, while West Texas Intermediate (WTI) crude futures ended up $2.27, or 2%, at $117.58.