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: Sterling falls as PM Truss defends economic plans, European shares tumble, Gold falls, Oil rises towards $90 as OPEC+ considers output cut-September 29th,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
America’s Roundup: Dollar retreats from recent high, Wall Street ends down sharply, Gold little changed, Oil settles lower after hitting $90/bbl as OPEC+ considers output cut-September 30th,2022
Europe Roundup: Sterling gains against the dollar, European shares dips, Gold ticks up, Oil prices stabilise on IEA demand outlook-September 14th,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: 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: 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
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
Europe Roundup:Euro jumps on hawkish ECB signals, European shares advances, Gold ticks, Oil prices rise as supply uncertainty mounts-September 12th,2022
America’s Roundup: Dollar scales fresh two-decade peak, Wall Street ends lower, Gold hovers near 2-1/2-year low, Oil prices slide $2/bbl, settle at 9-month lows-September 27th,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
America’s Roundup: U.S. dollar soars to two-decade high as Fed flags more large hikes, Wall Street slumps, Gold bounces ,Oil prices slide 1% after U.S. Fed raises interest rates-September 22nd,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: U.S. dollar pauses record gains as UK pound stabilizes, Wall Street ends sharply higher, Gold up around 2%, Oil prices jump after U.S. crude, fuel stocks drop-September 29th,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
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
•US Indexes: Dow slips 0.26%, S&P off 0.08%, Nasdaq up 0.41%
• Energy stocks down as oil slumps to pre-Ukraine war level
• Eyes on Friday's nonfarm payrolls report
•China holds military exercises after U.S. official visits Taiwan
• U.S. weekly jobless claims increase
• US Imports 340.40B,341.40B previous
•US Exports 260.80B,255.90B previous
•US Continuing Jobless Claims 1,416K,1,370K forecast, 1,359K previous
•US Initial Jobless Claims 260K,259K forecast, 256K previous
•US Jobless Claims 4-Week Avg. 254.75K, 249.25K previous
•Canada Jun Building Permits (MoM) -1.5%,-1.5% forecast, 2.3% previous
•US Jun Trade Balance -79.60B,-80.10B forecast, -85.60B previous
•Canada Jun Imports 64.86B, 63.11B previous
•US 8-Week Bill Auction 2.280%, 2.210% previous
• US 4-Week Bill Auctio 2.110%, 2.140% previous
Looking Ahead - Economic Data (GMT)
•05:00 Japan Jun Leading Index (MoM) -1.7% previous
•05:00 Japan Jun Coincident Indicator (MoM) -1.9% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro strengthened against dollar on Thursday as the positive impact of hawkish Federal Reserve comments faded and investors waited for more signs on the data front to confirm that more large rate hikes to curb inflation were coming. Fed officials have continued to push back against the perception that U.S. interest rates were close to peaking. San Francisco Fed President Mary Daly and Minneapolis Fed President Neel Kashkari voiced their determination overnight to rein in high inflation. But the impact of the hawkish rhetoric on the dollar appeared to be fading, with the currency in a more defensive mood. The dollar index , which measures its performance against six peers, was at 106.36, down about 0.2%. The euro was up at $1.0246. Immediate resistance can be seen at 1.0252(38.2%fib), an upside break can trigger rise towards 1.0292(Higher BB).On the downside, immediate support is seen at 1.0157(21DMA), a break below could take the pair towards 1.0095(23.6%fib).
GBP/USD: Sterling initially dipped on Thursday but recovered ground as investors reacted to the Bank of England's interest rate decision. The Bank of England raised its benchmark rate by half-a-percentage point given the more persistent inflationary pressures and the tight labor market conditions. The monetary policy committee of the central bank voted 8-1 to lift the bank rate by 50 basis points to 1.75%, the highest rate since December 2008. This was the sixth consecutive rate hike.The committee also decided to sell the stock of gilts purchased by the central bank, starting September. The bank intends to reduce government bond holdings of around GBP 10 billion per quarter. Immediate resistance can be seen at 1.2190(38.2%fib), an upside break can trigger rise towards 1.2258(Higher BB).On the downside, immediate support is seen at 1.2100(14DMA),a break below could take the pair towards 1.2066(23.6%fib).
USD/CAD: The Canadian dollar edged lower against its broadly weaker U.S. counterpart on Thursday as a drop in oil prices offset data showing that Canada’s trade surplus widened in June . U.S. crude oil futures settled down 2.3% at $88.54 a barrel, the lowest level since before Russia’s invasion of Ukraine in February. Canada’s trade surplus widened to C$5.1 billion ($4.0 billion) in June, beating analyst expectations, as exports rose 2%. The loonie was trading 0.1% lower at 1.2868 to the greenback , after moving in a range of 1.2819 to 1.2876.Canada’s employment report for July, due on Friday, could offer further clues on the strength of the domestic economy. Immediate resistance can be seen at 1.2893(38.2%fib), an upside break can trigger rise towards 1.2971 (23.6% fib).On the downside, immediate support is seen at 1.2853 (14DMA), a break below could take the pair towards 1.2816(50%fib).
USD/JPY: The dollar dipped against yen on Thursday as recession worries intensified following the Bank of England’s warning of a drawn-out downturn and ahead of key a hotly anticipated U.S. employment report on Friday. Cleveland Federal Reserve Bank President Loretta Mester said on Thursday that the economy is not currently in recession, but the risks of one have risen, while reiterating the central bank’s resolve to continue with aggressive tightening until there is compelling evidence of a let up in inflation. The monthly U.S. non-farm payrolls report will be closely watched on Friday for clues on whether the tight labor market will continue to push up wages. Data early Thursday showed a tick up in jobless claims. Strong resistance can be seen at 133.90 (23.6%fib), an upside break can trigger rise towards 134.00(Psychological level).On the downside, immediate support is seen at 132.68 (38.2%fib), a break below could take the pair towards 131.38(50%fib).
European stocks closed higher on Thursday after a somewhat volatile session, as investors reacted to the Bank of England's interest rate decision, and the latest batch of earnings updates, in addition to looking ahead to the upcoming U.S. non-farm payroll data, due on Friday..
UK's benchmark FTSE 100 closed up by 0.03 percent, Germany's Dax ended up by 0.55 percent, France’s CAC finished the day up by 0.64percent.
Wall Street's main indexes ended mixed in a dull session on Thursday as gains in high-growth stocks offset losses in energy shares, with investors looking ahead to monthly jobs report for clues on the pace of interest rate hikes by the Federal Reserve.
Dow Jones closed down by 0.26% percent, S&P 500 closed down by 0.08% percent, Nasdaq settled up by 0.41% percent.
U.S. Treasury yields fell on Thursday, as a gloomy outlook from the Bank of England fueled global recession concerns while investors readied for U.S. jobs data to wrap up what had been a volatile week for the bond market.
The yield on 10-year Treasury notes was down 5.3 basis points to 2.696%.The yield on the 30-year Treasury bond was up 0.3 basis points to 2.980%.
The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 5.9 basis points at 3.049%.
Gold prices climbed over 1% to hit a fresh one-month peak on Thursday, underpinned by a retreat in the dollar and U.S. Treasury yields, as investors kept a close tab on U.S.-China tensions.
Spot gold rose 1.6% to $1,792.19 per ounce by 1:56 p.m. ET (1756 GMT), having risen to its highest since July 5 earlier. U.S. gold futures settled 1.7% higher at $1,806.90.
Oil prices dropped on Thursday to their lowest levels since before Russia's February invasion of Ukraine, as traders fretted over the possibility of an economic recession later this year that could torpedo energy demand.
Benchmark Brent crude futures settled down $2.66, or 2.75%, at $94.12, the lowest close since Feb. 18. West Texas Intermediate (WTI) crude futures settled down $2.34, or 2.12%, at $88.54, the lowest close since Feb. 2.
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