America’s Roundup: U.S. dollar advances as markets brace for hefty Fed rate hike,Wall Street ends choppy session higher, Gold falls, Oil edges up as supply woes outweigh demand and rate hike worries-September 20th,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 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
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
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 languishes near 37-year low vs dollar European shares falls, Gold dips, Oil falls more than 2% on demand fears-September 19th,2022
Europe Roundup: Euro slides back towards two-decade lows, European shares slip, Gold gains,Oil prices surge as Putin mobilises more troops-September 21st,2022
America’s Roundup: Dollar dips ahead of CPI report, Wall Street ends higher, Gold gains , Oil prices settle higher amid supply concerns heading into winter-September 13th,2022
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 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: 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
America’s Roundup: Dollar gains ahead of Fed rate decision,Wall Street falls, Gold retreats, Oil prices down, investors expect big Fed rate hike-September 21st,2022
Europe Roundup: Sterling crumbles to all-time low, European shares falls, Gold pinned near 2-1/2-year low, Oil prices hit nine-month low on recession fears-September 26th,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
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: U.S. dollar gains as Fed reinforces hawkish stance, U.S. stocks end higher, Gold dips, Oil edges up from seven-month low as Russia threatens export halt-September 9th,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
•U.S. GDP declined 0.9% in Q2 for second straight drop
•US Real Consumer Spending (Q2) 1.0%,1.8% previous
•US Continuing Jobless Claims 1,359K, 1,380K forecast, 1,384K previous
•US Jobless Claims 4-Week Avg 249.25K, 240.50K previous
•US Initial Jobless Claims256K, 253K forecast, 251K previous
•US GDP Price Index (QoQ) (Q2) 8.9%,7.9% forecast, 8.3% previous
•US GDP (QoQ) (Q2) -0.9%,0.5% forecast, -1.6% previous
• US PCE Prices (Q2) 7.1%, 7.1% previous
•US Core PCE Prices (Q2) 4.40%,4.50% forecast, 5.20% previous
•US GDP Sales (Q2) 1.1%,-1.2% previous
US Natural Gas Storage 15B,22B forecast, 32B previous
•US Jul KC Fed Composite Index 13, 12 previous
•US Jul KC Fed Manufacturing Index 7, -1 previous
Looking Ahead - Economic Data (GMT)
•05:00 Japan Jun Construction Orders (YoY) 19.5% previous
•05:00 Japan Jul Household Confidence 32.1 previous
•05:00 Japan Jun Housing Starts (YoY) -1.2% forecast, -4.3% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro recovered from earlier losses against dollar on Thursday as investors digested data showing a declining U.S. economy for a second straight quarter, a day after the Federal Reserve hiked interest rates. U.S. second-quarter gross domestic product (GDP) fell at a 0.9% annualized rate, according to the Commerce Department's advance estimate. This compares with economist expectations for 0.5% growth and came after a first-quarter contraction of 1.6% . The data followed a Fed commitment on Wednesday to not flinch in its battle against the most intense U.S. inflation since the 1980s. Immediate resistance can be seen at 1.0190(21DMA), an upside break can trigger rise towards 1.0230(38.2%fib).On the downside, immediate support is seen at 1.0117(23.6%fib), a break below could take the pair towards 1.0000(Psychological level).
GBP/USD: Sterling steadied against the dollar as sterling gained momentum ahead of hawkish MPC expectations on Aug 4.Market’s focus turned to the BoE’s next meeting, traders are eyeing converging Fed-BoE rate expectations as markets price a more hawkish 50bp hike from the BoE.. Sterling also benefited from a pullback in the dollar and a euro still struggling under the weight of imminent shortages of natural gas and a weakening economy. Immediate resistance can be seen at 1.2193(38.2%fib), an upside break can trigger rise towards 1.2339(50%fib).On the downside, immediate support is seen at 1.2018(23.6%fib),a break below could take the pair towards 1.1988(21DMA).
USD/CAD: The Canadian dollar edged lower against its U.S. counterpart on Thursday but stayed within reach of an earlier six-week high as investors bet that interest rate hikes by the Federal Reserve could be nearing a peak. Wall Street's major indexes rose as a contraction in the U.S. economy for the second straight quarter raised expectations of a less aggressive monetary policy by the Fed. U.S. crude oil futures settled 0.9% lower at $96.42 a barrel as concerns about a potential global recession that would knock energy demand offset lower crude inventories and a rebound in U.S. gasoline consumption. The Canadian dollar was trading 0.1% lower at 1.2834 to the greenback, after touching its strongest level since June 13 at 1.2796. Immediate resistance can be seen at 1.3335 (Hgher BB), an upside break can trigger rise towards 1.3382 (Sep 3rd high).On the downside, immediate support is seen at 1.3258 (11 DMA), a break below could take the pair towards 1.3211 (50 DMA).
USD/JPY: The dollar languished near a six-week low to the yen amid a sharp retreat in Treasury yields after investors interpreted a shrinking U.S. economy as one more reason for the Federal Reserve to ease its foot off the tightening pedal. U.S. second-quarter gross domestic product (GDP) contracted at a 0.9% annualized rate, according to the Commerce Department’s advance estimate, released Thursday. That followed a first-quarter contraction of 1.6%. The GDP data came a day after the Fed raised rates by an as-expected 75 basis points and committed to not flinch in its battle against the most intense U.S. inflation since the 1980sStrong resistance can be seen at 136.84 (21DMA), an upside break can trigger rise towards 137.71(23.6%fib).On the downside, immediate support is seen at 135.65 (38.2%fib), a break below could take the pair towards 134.14 (Lower BB).
European stocks closed higher on Thursday with some key indexes in the region hitting multi-week closing highs, as investors indulged in some strong buying at several counters after the Federal Reserve Chairman Jerome Powell hinted at a slowdown in the pace of rate hikes at future meetings.
The UK's benchmark FTSE 100 closed down by 0.04%percent, Germany's Dax ended up by 0.88%percent, and France’s CAC finished the down by 1.30% percent.
Wall Street stocks rallied on Thursday as investors digested data showing a declining U.S. economy for a second straight quarter, a day after the Federal Reserve hiked interest rates.
Dow Jones was up by 1.03%percent, S&P 500 was up 1.21% percent, Nasdaq was up by 1.08% percent.
Benchmark 10-year notes last rose 15/32 in price to yield 2.6777%, from 2.732% late on Wednesday. The 30-year bond last rose 8/32 in price to yield 2.9903%, from 3.002%.
The 2-year note last rose 6/32 in price to yield 2.8824%, from 2.972%.
Gold rose more than 1% on Thursday as a contraction in the U.S. economy boosted its safe-haven allure and helped to extend gains driven by a less aggressive tone from the Federal Reserve chairman.
Spot gold extended gains on the data, and was last up 1.1% at $1,752.39 per ounce by 1:59 p.m. EDT (1759 GMT), helped along by a subsequent slide in U.S. Treasury yields.U.S. gold futures settled 1.8% higher at $1,750.30.
Oil prices were mixed on Thursday as concerns about a potential global recession that would knock energy demand offset lower U.S. crude inventories and a rebound in gasoline consumption.
Brent crude futures rose 52 cents to settle at $107.14 a barrel, after gaining $2.22 on Wednesday.
U.S. West Texas Intermediate crude (WTI) fell 84 cents to settle at $96.42 a barrel, after rising $2.28 in the previous session.
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