America’s Roundup: U.S. dollar gains from one-week low, Wall Street ends up, Gold falls, Oil slumps 6% to four-week low on recession worries-June 18th,2022
Europe Roundup: Euro falls to two-decade low on recession fears, European shares fall , Gold dips Brent falls as recession fears deepen demand concerns-July 5th,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
Europe Roundup: Sterling retreats as UK inflation hits new 40-year high, European shares fall,Gold extends fall, Oil slumps by around $5-June 22nd,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
Europe Roundup:Pound gains as traders monitor upcoming BoE signals, European shares gains, Gold edges lower, Oil prices reverse losses, gain on concerns over supply shortages-July 4th,2022
America’s Roundup: Dollar rises on safe-haven demand, Wall Street ends mixed, Gold drops over 2%, Oil tumbles 9% on recession demand destruction fears-July 6th,2022
America’s Roundup: Dollar eases as growth fears push yields lower, Wall Street ends lower, Gold gains, Oil falls around 3% -June 23rd,2022
America’s Roundup: Dollar boosted by safety bid on recession fears, Wall Street ends higher, Oil climbs more than 2% as supply cuts outweigh recession fears-July 2nd,2022
Europe Roundup: Sterling heads for third week of losses as dollar stands tall, European shares gains, Gold falls, Oil rises on tight supply though interest rate hikes weigh-June 17th,2022
Europe Roundup: Euro struggles around $1.05 on gloomy PMIs, European shares falls, Gold dips, Oil rebounds as investors assess recession risks-June 23rd,2022
America’s Roundup: Dollar dips after Fed statement, Wall Street closes higher, Gold rallies, Oil prices fall over 2% as Fed hikes interest rates-June 16th,2022
America’s Roundup: Dollar gains, euro slips as Lagarde keeps July policy choices open, Wall Street stumbles, Gold little changed, Oil settles higher as major producers signal capacity limits-June 29th,2022
America’s Roundup: Dollar pulls back as markets reassess Fed interest rate path, Wall Street ends higher, Gold edges higher, Oil settles up but posts a weekly decline on recession worries-June 25th,2022
America’s Roundup: Dollar pulls back as markets reconsider Fed rate bets, Wall Street ends higher, Gold edges lower, Oil surges after G7 pledge fresh Russian sanctions-June 28th,2022
Europe Roundup: Euro jumps as ECB holds unscheduled meeting, European stocks jump,Gold gains 1%, Oil prices fall as expected U.S. interest rate hike looms-June 15th,2022
America’s Roundup: Dollar hits two-decade high, Wall Street ends mixed, Gold retreats, Oil settles mixed amid Beijing lockdown fears, tight supplies-May 13th,2022
•US Apr PPI (MoM) 0.5%,0.5% forecast, 1.4% previous
•US Apr PPI (YoY) 11.0%,10.7% forecast,11.2% previous
•US Apr Core PPI (MoM) 0.4%,0.6% forecast, 1.0% previous
•US Apr Initial Jobless Claims 192.75K, 195K forecast, 200K previous
•US Continuing Jobless Claims 1,343K,1,380K forecast, 1,384K previous
•US Jobless Claims 4-Week Avg 192.75K ,188.00K previous
•UK NIESR GDP Estimate 0.3%,-2.5% previous
•Natural Gas Storage 76B, 79Bforecast,77B previous
•US 4-Week Bill Auction 0.600%,0.490% previous
•US 8-Week Bill Auction 0.755% , 0.710% previous
Looking Ahead - Economic Data (GMT)
•No data ahead
Looking Ahead - Economic events and other releases (GMT)
• 02:00 Australia RBA Assist Gov Bullock Speaks
EUR/USD: The euro declined against the U.S. dollar on Thursday as intensifying global risk aversion over war, inflation and diminishing economic growth prospects sent investors scrambling into the safe-haven dollar. The souring sentiment dealt a particularly harsh blow to the euro since it is exposed to Ukraine war risks and China's COVID-related economic disruptions.On the data front, The U.S. Labor Department said the producer price index for final demand rose 0.5% in April, slower than the 1.6% surge in March, as rising costs of energy products moderated. The euro down 1.38% to $1.0366 after falling to 1.0352, its lowest since Jan. 3, 2017.Immediate resistance can be seen at 1.0465 (38.2%fib), an upside break can trigger rise towards 1.0510 (5DMA).On the downside, immediate support is seen at 1.0355(23.6%fib), a break below could take the pair towards 1.0315 (Lower BB).
GBP/USD: Sterling fell to a fresh two-year low versus a strengthening U.S. dollar on Thursday after a slew of economic data pointed to the weakening of the economy. Britain's economy unexpectedly shrank 0.1% in March after a slump in car sales due to supply-chain problems. Data also showed British employers added permanent staff last month at the weakest rate in more than a year suggesting the labour market might be cooling, according to a survey that will be noted by the Bank of England as it assesses inflation pressure. Immediate resistance can be seen at 1.2255(Daily high), an upside break can trigger rise towards 1.2299(38.2%fib).On the downside, immediate support is seen at 1.2174 (23.6%fib), a break below could take the pair towards 1.2094(Lower BB).
USD/CAD : The Canadian dollar extended recent declines against its U.S. counterpart on Thursday as investors grew more worried about the global economy and the Bank of Canada played down prospects of interest rates rising by more than half a percentage point in any one move. Meanwhile, Bank of Canada Deputy Governor Toni Gravelle said the Canadian central bank's policy rate, at 1%, is "too stimulative" given soaring inflation and needs to return to more neutral levels quickly. The loonie was trading 0.6% lower at 1.3070 to the greenback, or 76.51 U.S. cents, after touching its weakest level since November 2020 at 1.3076..Immediate resistance can be seen at 1.3056(23.6%fib), an upside break can trigger rise towards 1.3115 (Higher BB).On the downside, immediate support is seen at 1.3018 (5DMA), a break below could take the pair towards 1.2944 (38.2%fib).
USD/JPY: The dollar steadied against yen on Thursday as concerns persisted that central bank actions to drive down high inflation would crimp global economic growth, boosting the safe-haven appeal for dollar. Data from the Labor Department showed weekly initial jobless claims rose to their highest level in three months, although the labor market remains a strength of the U.S. economy. On the inflation front, the producer price index showed a sharp deceleration in April to a 0.5% rise from the 1.6% surge the prior month. The dollar index rose 0.798% at 104.840 after touching 104.92, its highest level since Dec. 12, 2002. Strong resistance can be seen at 129.59 (23.6%fib), an upside break can trigger rise towards 130.00(Psychological level).On the downside, immediate support is seen at 128.41(38.2%fib), a break below could take the pair towards 126.83(Lower BB).
European stocks slumped on Thursday, with most cyclical parts of the market coming back down, a day after U.S. inflation data fuelled worries about the impact of rising interest rates on economic growth.
UK's benchmark FTSE 100 closed down by 1.56 percent, Germany's Dax ended down by 0.64 percent, France’s CAC finished the day down by 1.01 percent.
U.S. stocks ended a whipsaw session slightly lower on Thursday, as investors juggled signs of peaking inflation with fears that it could remain elevated, prompting ever more aggressive tightening from the Federal Reserve.
Dow Jones closed down by 0.33% percent, S&P 500 closed by 0.13% percent, Nasdaq settled up by 0.6% percent.
U.S. Treasury yields slid on Thursday as the bond market assessed whether the Federal Reserve can keep the economy from lurching into recession as it slams the brakes on a rising pace of inflation despite showing signs of moderation.
The yield on 10-year Treasury notes fell 4.3 basis points to 2.870% as the benchmark U.S. government bond pared losses after sinking to a morning low of 2.8173%.
Gold and other precious metals dropped on Thursday, with palladium shedding more than 8%, as investors flocked to the dollar driven by bets the U.S. Federal Reserve will stick to aggressive rate hikes.
Spot gold fell 1.6% to $1,823.14 per ounce by 01:51 p.m. EDT (1751 GMT). U.S. gold futures settled down 1.6% at $1,824.60.
Oil prices settled mixed on Thursday as supply concerns and geopolitical tension in Europe got the upper hand over the economic fears dogging financial markets as inflation soars.
Brent crude fell 6 cents to settle at $107.45 a barrel. WTI crude rose 42 cents, or 0.4%, to settle at $106.13.