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
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
America’s Roundup: Dollar gains after stronger-than-expected payrolls data , Wall Street ends mixed, Gold dips 1%, Oil prices end week on multi-month lows on recession fears, Oil prices end week on multi-month lows on recession fears-August 6th,2022
Europe Roundup: Euro holds near 2-week high,European shares falls, Gold steadies, Oil prices slip ahead of U.S. inventory data-July 20th,2022
America’s Roundup: Dollar dips ahead of U.S. Fed meeting's outcome, Wall Street ends lower, Gold virtually unchanged, Oil settles down on lower U.S. consumer confidence –July 27th,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
Europe Roundup:Euro rallies on prospect of bigger ECB rate hikes, European shares gains,Gold prices steady, Oil prices fall on economic slowdown warnings-July 19th,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
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
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 bounces from two-week low, Wall Street closes higher, Gold prices dip, Oil falls on lackluster U.S. summer gasoline demand-July 21st,2022
America’s Roundup: Dollar dips as rate hike bets ease, Wall Street closes down, Gold firms, Oil gains $5 on weaker dollar, tight supplies-July 19,2022
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 slips after soft US economic data, Wall Street closes higher, Oil slumps $3/bbl on gasoline stockpiles, rate hikes and resuming supply-July 22nd ,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: 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 gains on hawkish comments from Powell, Wall Street ends mixed, Gold little changed, Oil slides 2% on rising U.S. fuel stocks and output-June 30th,2022
• US Core PCE Prices (Q1) 5.20% ,5.10% forecast, 5.10% previous
• US Corporate Profits (QoQ) (Q1) -4.9%,-4.3% previous
• US GDP Price Index (QoQ) (Q1) 8.3%,8.1% forecast, 8.1% previous
• US GDP (QoQ) (Q1) -1.6%,-1.5% forecast, -1.5% previous
• US GDP Sales (Q1) -1.2%,-0.5% forecast, -0.4% previous
•US Cushing Crude Oil Inventories -0.572M, -0.826M previous
• US Crude Oil Inventories -0.386M , 1.956M previous
• US Cushing Crude Oil Inventories -0.782M, -0.572M previous
Looking Ahead Economic Data(GMT)
•23:50 Japan May Industrial Production (MoM) -0.3%forecast, -1.5% previous
•23:50 Japan Foreign Bonds Buying -496.7B previous
•01:00 NZ Jun ANZ Business Confidence -55.6
•01:30 China Jun Non-Manufacturing PMI 47.8
•01:30 AU May Private Sector Credit (MoM) 0.8%
•01:30 China Jun Manufacturing PMI 50.5 forecast,49.6 previous
•01:30 China Jun Chinese Composite PMI 48.4 previous
•05:00 Japan May Construction Orders (YoY) 30.5% previous
Looking Ahead - Events, Other Releases (GMT
•No significant events
EUR/USD: The euro declined on Wednesday after European Central Bank President Christine Lagarde said the era of ultra low inflation that preceded the pandemic is unlikely to return.Speaking at a panel at the ECB Forum in Sintra, Portugal, alongside U.S. Federal Reserve Chairman Jerome Powell and Bank of England Governor Andrew Bailey, Lagarde added that central banks need to adjust to significantly higher price growth expectations. The euro was last down 0.41% to $1.0442. It had dropped to as low as $1.0486 earlier in the day after data showed June prices in the German state of North Rhine–Westphalia (NRW) had been 0.1% lower than in May. Immediate resistance can be seen at 1.0506(20DMA),an upside break can trigger rise towards 1.0621(38.2%fib).On the downside, immediate support is seen at 1.0404(38.2%fib), a break below could take the pair towards 1.0362(50%fib).
GBP/USD: Sterling fell against dollar on Wednesday as dovish comments from a new policymaker kept the currency firmly on course for its biggest six-month decline against the dollar since 2016, the year of the Brexit referendum.Swati Dhingra, who will join the BoE in August, said the bank should move to tightening policy very gradually as there are signs an economic slowdown that is much closer than previously thought. Sterling has been one of this year’s worst performing major currencies, down more than 10% against the dollar. Immediate resistance can be seen at 1.2156(38.2%fib),an upside break can trigger rise towards 1.2199(5DMA).On the downside, immediate support is seen at 1.2037(16th June Low), a break below could take the pair towards 1.1941(23.6%fib).
USD/CAD: The Canadian dollar fell against its broadly stronger U.S. counterpart on Wednesday, giving back some recent gains as the prospect of a global economic slowdown weighed on investor sentiment .The safe-haven U.S. dollar climbed against a basket of major currencies as Federal Reserve Chair Jerome Powell said there is a risk the U.S. central bank's effort to tame persistently high inflation with interest rate hikes will slow the American economy too much. The Canadian dollar was trading 0.2% lower at 1.2895 to the greenback, following three straight days of gains. Immediate resistance can be seen at 1.2895 (5 DMA), an upside break can trigger rise towards 1.2925 (23.6%fib).On the downside, immediate support is seen at 1.2822 (38.2%fib), a break below could take the pair towards 1.2793 (30DMA).
USD/JPY: The dollar strengthened against the Japanese yen on Wednesday as hawkish comments by U.S. Federal Reserve policymakers boosted greenback. Fed chair Jerome Powell on Wednesday stuck to the central bank's hawkish stance citing surging inflation as a bigger risk. This followed hawkish comments from Fed policymakers pushing for big and faster interest rate hikes, denting risk appetite and lifting the dollar. A Commerce Department report on Wednesday showed that the U.S. economy contracted slightly more than previously estimated in the first quarter as the trade deficit widened to a record high and a resurgence in COVID-19 infections hurt spending on services like recreation Strong resistance can be seen at 137.11 (23.6%fib), an upside break can trigger rise towards 138.00(Psychological level).On the downside, immediate support is seen at 136.16(50%fib), a break below could take the pair towards 135.92(5DMA).
European shares fell on Wednesday, as fears about a global recession deepened after chiefs of the European Central Bank and U.S. Federal Reserve Chairman stuck to their hawkish stance.
UK's benchmark FTSE 100 closed down by 0.15 percent, Germany's Dax ended down by 1.73 percent, France’s CAC finished the day down by 0.15 percent.
The S&P 500 ended a seesaw session slightly down on Wednesday as investors staggered toward the finish line of a downbeat month, a dismal quarter, and the worst first-half for Wall Street's benchmark index since President Richard Nixon's first term.
Dow Jones closed up by 0.27% percent, S&P 500 closed down by 0.07% percent, Nasdaq settled up by 0.03% percent.
U.S. Treasury yields eased for a second consecutive day and the dollar rose on Wednesday after Federal Reserve Chairman Jerome Powell said there is a risk the U.S. central bank's interest rate hikes will slow the economy too much, but the bigger risk is persistent inflation.
The yield on 10-year Treasury notes fell 10.5 basis points to 3.102%, while the two-year's yield slid 6.5 basis points to 3.059%.
Gold prices see-sawed on Wednesday, caught between headwinds from aggressive interest rate hikes and support from safe-haven bids spurred by growing recession risks
Spot gold fell 0.2% to $1,816.39 per ounce by 1:56 p.m. ET (1756 GMT).U.S. gold futures also settled down 0.2% to $1,817.5.
Oil prices fell about 2% on Wednesday as rising US gasoline and distillate inventories and concerns about slowing economic growth around the world offset lingering concerns over tight crude supplies.
Brent futures for August delivery fell $1.72, or 1.5%, to settle at $116.26 a barrel. The August contract will expire on Thursday and the more-active September contract was down $1.35 to $112.45.
U.S. West Texas Intermediate crude for August fell $1.98, or 1.8%, to settle at $109.78.