America’s Roundup: Dollar inches up vs yen as investors expect Fed will stay aggressive, U.S. stocks slip ,Gold falls, Oil slumps over 3% on demand concerns-September 16th,2022
America’s Roundup: Dollar declines against yen as Japan intervenes to stop yen slide, Wall Street ends down, Oil edges higher on Russian supply concerns in volatile trade-September 23rd,2022
Europe Roundup: Sterling recovers as BoE, Treasury seek to calm markets , European shares bounce, Gold firms, Oil rises from 9-month low on U.S. Gulf supply cuts-September 27th,2022
Europe Roundup: Sterling idles near 37-year low ahead of Fed, BoE meetings, European shares slips in choppy trade,Gold dips, Oil prices up but expected Fed rate hike paints bearish picture-September 20th, 2022
America’s Roundup: Dollar reaches new two-decade high, Wall Street ends lower, Gold drops to 2-1/2-year lows, Oil plunges to eight-month low on strong dollar, recession fears-September 24th,2022
Europe Roundup: Euro gains on ECB rate hike, European shares gains, Gold hits more than one-week high, Oil supported by supply threats -September 9th,2022
Europe Roundup: Sterling recovers after BoE rate hike, European shares fall, Gold steadies, Oil rises on rebounding Chinese demand, geopolitical risks-September 22nd,2022
Europe Roundup: Sterling tumbles after Britain's new economic plan, European shares extend falls, Gold hits more than 2-year low, Oil prices down 3% with recession fears in focus-September 23rd,2022
Europe Roundup: Euro gains as dollar dips ahead of US CPI data, European shares rise, Gold holds steady, Oil prices climb on concerns over tight supplies-September 13th,2022
America’s Roundup: Dollar edges down but posts gains for week, Wall Street drops, Gold gains, Oil prices up after Basra spill, but log weekly decline-September 17th,2022
Europe Roundup: Sterling falls to 37-year low against dollar, European stocks fall, Gold dips, Oil steadies but remains on track for weekly decline-September 16th,2022
Europe Roundup: Pound drops more than 1% as Bank of England steps into bond market , European shares slide, Gold slides to 2-1/2 year low, Oil prices stable as soaring dollar offset by U.S. output outages-September 28th,2022
Europe Roundup: Sterling plunges near 35-year low against the dollar, European stocks bounce, Gold dips to near 2-month low, Oil falls over 1% on demand concerns, strong dollar-September 15th,2022
America’s Roundup: Dollar dips as U.S. rate hike jitters restrain gains, Wall Street flat, Gold dips , Oil rises 1% on supply concerns, expectations for fuel switching-September 15th,2022
Europe Roundup: Euro holds above 2-decade low before ECB decision, European shares gain ,Gold struggles for direction, Oil prices fall further as China extends COVID curbs-September 8th,2022
America’s Roundup: Dollar falls as investors balance their positions ahead of US inflation data, Wall Street ends higher, Gold gains, Oil rises 4% on supply threats, still set for weekly drop-September 10th,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
•Canada Common CPI (YoY) 4.6%, 4.2%forecast,2.6% previous
•Canada Trimmed CPI (YoY) 5.5%,5.6% forecast, 5.4% previous
•Canada Median CPI (YoY) 4.9%,5.1% forecast,4.9% previous
•Canada Jun CPI (YoY) 8.1%,8.4% forecast, 7.7% previous
•Canada Jun CPI (MoM) 0.7%,0.9% forecast, 1.4% previous
•Canada Jun Core CPI (MoM) 0.3%, 0.8% previous
•Canada Jun RMPI (MoM) -0.1%,2.5% previous
•Canada Jun Core CPI (YoY) 6.2%,5.9%forecast,6.1% previous
•US Jun Existing Home Sales 5.12M,5.38M forecast, 5.41M previous
•US Jun Existing Home Sales (MoM) -5.4%, -3.4% previous
•EU Jul Consumer Confidence -27.0, -24.9 forecast, -23.6 previous
•US Cushing Crude Oil Inventories 1.143M,0.316M previous
•US Crude Oil Inventories -0.446M, 1.357M forecast, 3.254M previous
Looking Ahead - Economic Data (GMT)
•03:00 Japan BoJ Interest Rate Decision -0.10% forecast, -0.10% previous
•03:00 New Zealand Credit Card Spending (YoY) 2.2% previous
Looking Ahead - Economic events and other releases (GMT)
• 03:00 Japan BoJ Outlook Report (YoY)
• 03:00 Japan BoJ Press Conference
EUR/USD: The euro declined against the dollar on Wednesday as dollar strenthed ahead of a rate decision by the European Central Bank on Thursday . The U.S. dollar rose after three straight days of declines that left the greenback at two-week lows as expectations for upcoming rate hikes from the ECB and U.S Federal Reserve have shifted. The market anticipates a larger 50 basis points hike from the ECB and the Fed hiking by 75 basis points as they attempt to combat inflation. As recently as last week, it was widely expected the ECB would hike by 25 basis points while the Fed would likely raise rates by 100 basis points.. Immediate resistance can be seen at 1.0281(21DMA), an upside break can trigger rise towards 1.0310(38.2% fib).On the downside, immediate support is seen at 1.0179 (14DMA), a break below could take the pair towards 1.0110 (23.6%fib).
GBP/USD: Sterling steadied against the dollar on Wednesday as data showed that UK inflation rose to a 40-year high but was only slightly above forecast. Inflation data supported bets that the Bank of England will opt for a 50 basis point rate hike next month, but sterling's moves were limited as the magnitude of the hike was priced in. The central bank is expected to raise rates for the sixth time since December. Bank of England Governor Andrew Bailey said that a 50 bps increase in borrowing costs - unseen in Britain in a quarter of a century - was on the table but not locked in. Sterling was flat at $1.1967 against the U.S. dollar , after climbing to an 11-day high on Tuesday. Immediate resistance can be seen at 1.2051(14DMA), an upside break can trigger rise towards 1.2098(38.2%fib).On the downside, immediate support is seen at 1.1950(14DMA), a break below could take the pair towards 1.1856 (23.6%fib).
USD/CAD: The Canadian dollar strengthened against the greenback on Wednesday after data showed an acceleration in consumer price inflation in the month of June . Data from Statistics Canada showed the country's annual inflation rate accelerated to 8.1% in June of 2022, the highest since January 1983. Core consumer prices in Canada increased 6.2% in June of 2022 over the same month in the previous year. It is the highest core inflation rate since at least 1984. U.S. August crude futures fell $1.96 to settle at $102.26 a barrel on Wednesday. The loonie was trading 0.1% lower at C$1.2877 to the greenback, after trading in a range of 1.2855 to 1.2906.Immediate resistance can be seen at 1.2924 (5DMA), an upside break can trigger rise towards 1.2952 (23.6%fib).On the downside, immediate support is seen at 1.2866 (38.2%fib), a break below could take the pair towards 1.2788 (50%fib).
USD/JPY: The dollar strengthened against the Japanese yen on Wednesday as dollar gained ahead of Bank of Japan’s meeting. The Bank of Japan is set to raise its inflation forecast on Thursday but maintain ultra-low interest rates and warn of risks to a fragile economy, reinforcing its position as an outlier in a wave of global increases to borrowing costs. While rising fuel and commodity costs have pushed Japan's inflation above its 2% target, the BOJ is in no rush to withdraw stimulus as slowing global growth cloud the outlook for an economy yet to fully recover from the COVID-19 pandemic's scars.The decision will come hours before that of the European Central Bank, which will consider a bigger-than-expected 50 basis point rate increase to tame soaring inflation. Strong resistance can be seen at 139.44 (23.6%fib), an upside break can trigger rise towards 140.00(Psychological level).On the downside, immediate support is seen at 137.56 (9DMA), a break below could take the pair towards 136.91 (38.2%fib).
European stocks dipped on Wednesday as worries about gas supplies kept investors worried .
The UK's benchmark FTSE 100 closed down by 0.44 percent, Germany's Dax ended down by 0.20 percent, and France’s CAC finished the down by 0.22 percent.
U.S. stocks ended higher on Wednesday with the tech-heavy Nasdaq booking a 1.6 % gain on positive earnings signals with a wary eye on inflation and more interest rate hikes by the Fed.
Dow Jones closed up by 0.15 percent, S&P 500 ended up 0.59 percent, Nasdaq finished the day up by 1.58 percent.
Benchmark U.S. 10-year Treasury yields were mixed on Wednesday as traders navigated whether gas disruptions to Europe could push the euro zone to a deep recession, with prices remaining in a tight range.
The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was unchanged at 3.231%.
Gold prices fell on Wednesday as a firmer dollar countered limited support for bullion from expectations the U.S. Federal Reserve may not resort to a 100-basis-point interest rate hike next week.
Spot gold was down 0.6% at $1,700.23 per ounce by 2:06 p.m. EDT (1806 GMT). U.S. gold futures settled down 0.6% at $1,700.20.
Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand.
Brent crude prices for September fell 43 cents to settle at $106.92 a barrel. U.S. West Texas Intermediate (WTI) crude for August fell $1.96 to settle at $102.26 a barrel. The WTI contract expires on Wednesday.
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