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
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: 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 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
Europe Roundup: Sterling slips as BoE delivers big rate hike but warns of long recession,European shares gains, Gold gains over 1%, Oil prices stabilize after drop to near 6-month low-August 4th,2022
America’s Roundup: Dollar falls after Fed raises rates by 75 bps ,Wall Street ends higher, Gold ticks up, Oil settles higher on U.S. inventory drop, Russia gas cuts-28th July, 2022
America’s Roundup: Dollar gains on U.S. service sector data, Wall Street rallies, Gold little changed, Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build-August 4th,2022
America’s Roundup: Dollar slips after dismal U.S. data ,Wall Street closes lower, Gold gains, U.S. crude ends below $95/bbl as EU tweaks Russian oil sanctions-July 23rd,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 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: Sterling edges higher ahead of Thursday's BoE decision , European shares inch higher, Gold rebounds, Oil prices dip ahead of OPEC+ meeting-August 3rd,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
America’s Roundup: Dollar slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,2022
Europe Roundup:Euro gains on upbeat Eurozone GDP data, European shares rises, Gold gains,Oil prices rise as chances of OPEC+ supply boost dim-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
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 index jumps to two-decade high as traders await Fed rate move , Wall Street slips, Gold eases, Oil prices settle down on fears of Fed and oil profit tax-June 15th,2022
• Canada New Motor Vehicle Sales (MoM) 143.2% ,144.6% previous
• Canada Apr Manufacturing Sales (MoM) 1.7% ,1.6% forecast ,2.5% previous
• US May PPI (MoM ) 0.8% ,0.8% forecast , 0.5% previous
• US May PPI (YoY) 10.8%, 10.9%forecast ,11.0% previous
• US May Core PPI (MoM) 0.6% forecast , 0.4% previous
• US Redbook (YoY) 11.4% ,12.4% previous
• US IBD/TIPP Economic Optimism 38.1 ,41.2 previous
Looking Ahead Economic Data(GMT)
• 23:50 Japan Apr Core Machinery Orders (YoY) 5.3% forecast ,7.6% previous
•00:30 AU Jun Westpac Consumer Sentiment -5.6% previous
•01:30 AU House Price Index (QoQ) (Q1) 1.4% forecast, 4.7% previous
•02:00 China May Chinese Industrial Production YTD (YoY) 4.0% previous
•02:00 China May Industrial Production (YoY) -0.7% forecast,-2.9% previous
•02:00 China May Fixed Asset Investment (YoY) 6.0% forecast,-6.8% previous
•02:00 China Unemployment Rate 6.1% forecast, 6.1% previous
•04:30 Japan Tertiary Industry Activity Index (MoM) 1.3% previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro held near recent lows against dollar on Tuesday as worries over aggressive U.S. interest rate hikes weighed in single currency. Investors remained on edge, ahead of the outcome of a Federal Reserve policy meeting due late on Wednesday. Friday’s U.S. inflation data fuelled bets that the Fed would become more aggressive than indicated by its forward guidance. Focus is on the Fed's policy decision due on Wednesday, with many expecting a big three-quarter-percentage point rate hike following hot inflation print last week. On the data front, German investor sentiment rose slightly in June, roughly in line with market expectations, as financial market experts were less pessimistic about the economy, though it remained in negative territory due to numerous risks.. Immediate resistance can be seen at 1.0499(38.2%fib),an upside break can trigger rise towards 1.0587(50%fib).On the downside, immediate support is seen at 1.0395(23.6%fib), a break below could take the pair towards 1.0361(Lower BB).
GBP/USD: Sterling fell below $1.20 against dollar for the first time since the start of the pandemic after Scotland's First Minister Nicola Sturgeon said she was set to share details on plans for a new independence referendum. Sturgeon said she was nearly ready to give more details on how Scotland's devolved parliament could move ahead with a new independence referendum without the consent of the British government. After rising against the dollar , the pound fell 1.1% to $1.1993, its lowest level since March 2020.Immediate resistance can be seen at 1.2135(38.2%fib),an upside break can trigger rise towards 1.2181(5DMA).On the downside, immediate support is seen at 1.2000 (Psychological level), a break below could take the pair towards 1.9029 (23.6%fib).
USD/CAD: The Canadian dollar extended recent declines against its U.S. counterpart on Tuesday on lingering jitters that the Federal Reserve, which began a two-day policy meeting, would be unable to control inflation without triggering a recession. The loonie weakened even as money markets fully priced in a three-quarter percentage point rate increase by the Bank of Canada at its next policy announcement on July 13, which would be the biggest hike since August 1998, and bet that rates would peak near 4% next year .The Canadian dollar was trading 0.4% lower at 1.2950 to the greenback , after touching its weakest since May 16 at 1.2974.Immediate resistance can be seen at 1.2984 (23.6%fib), an upside break can trigger rise towards 1.4256 (Higher BB).On the downside, immediate support is seen at 1.2879 (38.2%fib), a break below could take the pair towards 1.2854 (5 DMA).
USD/JPY: The dollar dipped against dollar on Tuesday as traders braced for an aggressive rate hike from the U.S. Federal Reserve this week to try to curb inflation. Investors have been unsettled this week by rising expectations that the Fed will raise interest rates by more than forecast . There is a nearly 90% expectation for a 75-basis-point increase at the conclusion of a two-day meeting of the U.S. central bank's Federal Open Market Committee (FOMC) on Wednesday. The Japanese currency's fell to its lowest level since 1998 against the dollar. The dollar against the yen was last trading at 135.39 yen. Strong resistance can be seen at 135.80 (23.6%fib), an upside break can trigger rise towards 136.61(Higher BB).On the downside, immediate support is seen at 134.74 (5DMA), a break below could take the pair towards 133.36(June 8th Low).
European equities reversed early gains on Tuesday to extend their selloff for a sixth straight session on worries over aggressive U.S. interest rate hikes and a potential recession.
UK's benchmark FTSE 100 closed down by 2.75 percent, Germany's Dax ended down by 1.96 percent, France’s CAC finished the day down by 1.65 percent.
The S&P 500 ended lower on Tuesday as the index was unable to bounce from a sharp sell-off in the prior session with a key policy statement from the Federal Reserve on deck that will reveal how aggressive the central bank's policy path will be.
Dow Jones closed down by 0.50% percent, S&P 500 closed down by 0.38 % percent, Nasdaq settled up by 0.18%percent.
Interest rate sensitive two-year U.S. Treasury yields climbed to their highest level since 2007 on Tuesday as investors raised bets that the Federal Reserve will hike rates by 75 basis points when it concludes its two-day meeting on Wednesday.
Two-year Treasury note yields reached 3.430%, the highest since November 2007. Benchmark 10-year notes were at 3.339%, after reaching 3.440% on Monday, the highest since April 2011.
Gold gave up small gains in range-bound trading on Tuesday as the dollar resumed its climb and hit a 20-year high, eroding bullion’s safe-haven appeal on investor bets of aggressive rate hikes by the U.S. Federal Reserve.
Spot gold fell 0.4% to $1,811.59 per ounce by 1:54 p.m. EDT (1754 GMT), while U.S. gold futures settled down 1% at $1,813.50.
Oil prices settled lower on Tuesday on fears the U.S. Federal Reserve will surprise markets with a higher-than-expected interest rate hike.
Brent crude futures settled down $1.10, or 0.9%, to $121.17 a barrel. U.S. West Texas Intermediate (WTI) crude fell $2, or 0.7%, to settle at $118.93 a barrel