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
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 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: 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 ahead of CPI report, Wall Street ends higher, Gold gains , Oil prices settle higher amid supply concerns heading into winter-September 13th,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: 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
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
Europe Roundup: Sterling gains against the dollar, European shares dips, Gold ticks up, Oil prices stabilise on IEA demand outlook-September 14th,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 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 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: 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:Euro jumps on hawkish ECB signals, European shares advances, Gold ticks, Oil prices rise as supply uncertainty mounts-September 12th,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
America’s Roundup: Dollar little changed , Wall Street ends mixed, Gold bounces from 2-1/2-year low, Oil rallies from Monday's nine-month lows-September 28th,2022
America’s Roundup: Dollar remains under pressure as traders reassess rate hike bets,Wall Street ends mixed, Gold inches lower ,Oil settles up as IEA hikes 2022 demand growth forecast-August 12th,2022
•US Jul PPI (MoM) -0.5%,0.2% forecast, 1.1% previous
•US Jul Core PPI (MoM) 0.2%,0.4% forecast, 0.4% previous
•US Jul PPI (YoY) 9.8% ,10.4% forecast,11.3% previous
•US Jul Core PPI (YoY) 7.6%,7.6% forecast, 8.2% previous
•US Initial Jobless Claims 262K,263K forecast, 260K previous
•US Jobless Claims 4-Week Avg. 252.00K ,254.75K previous
•US Continuing Jobless Claims1,428K, 1,407K forecast, 1,416K previous
•US Jul PPI (YoY) 5.8%, 6.4% previous
•US Jul PPI (MoM) 0.2%, 0.3% previous
Looking Ahead – Economic data (GMT)
•No data ahead
Looking Ahead - Events, Other Releases (GMT)
• No significant events
EUR/USD: The euro edged lower on Thursday as investors digested signs of cooling U.S. inflation and hopes the Federal Reserve could slow interest rate hikes against warnings that the battle with rising prices was far from over. Thursday’s data showed U.S. producer prices (PPI) unexpectedly fell in July amid a drop in the cost of energy products. This followed Wednesday's surprise news that consumer prices (CPI) were unchanged in July due to a drop in gasoline prices. The dollar, which fell 1% on Wednesday on the prospect of a more dovish Fed, pared losses on Thursday. Immediate resistance can be seen at 1.0355(50DMA), an upside break can trigger rise towards 1.0411(50%fib).On the downside, immediate support is seen at 1.0274(38.2%fib), a break below could take the pair towards 1.0218(21DMA).
GBP/USD: Sterling edged lower against dollar on Thursday a day ahead of gross domestic product (GDP) figures which are expected to show further signs of a weakening British economy. UK GDP is expected to have shed 0.3% in the second quarter from a 0.4% growth in the first three months of the year. The pound is one of the worst performers out of the G10 currencies this year, having fallen almost 10% against the U.S. dollar in 2022. Investors turned their focus this week to the energy crisis after reports Britain was planning organised blackouts over winter, while concerns around surging consumer energy debt also weighed on sentiment. Immediate resistance can be seen at 1.2257(38.2%fib), an upside break can trigger rise towards 1.2299(1st Aug).On the downside, immediate support is seen at 1.2168(50%fib),a break below could take the pair towards 1.2132 (5DMA).
USD/CAD: The Canadian dollar climbed to its highest level in more than two months against a broadly weaker U.S. counterpart on Thursday as oil prices rose and investors weighed further evidence of cooling inflation in the United States. Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to risk appetite. U.S. crude prices were up 0.9% at $92.74 a barrel after the International Energy Agency raised its oil demand growth forecast for this year, with soaring gas prices driving some consumers to switch to oil. The Canadian dollar was trading 0.3% higher at 1.2734 per greenback, after touching its strongest level since June 10 at 1.2732. Immediate resistance can be seen at 1.2808 (5DMA), an upside break can trigger rise towards 1.2835 (38.2%fib).On the downside, immediate support is seen at 1.2756 (50%fib), a break below could take the pair towards 1.2668 (61.8%fib).
USD/JPY: The dollar strengthened against yen on Thursday as comments by U.S. Federal Reserve officials pointed towards further interest rate hikes, despite signs of easing inflation in the world's largest economy. Data showed U.S. consumer prices did not rise in July due to a sharp drop in the cost of gasoline, lifting hopes that the Fed would be less aggressive on its tightening plans going forward. However, Fed policymakers noted that they would continue to tighten monetary policy until price pressures were fully broken. The Japanese yen weakened 0.09% versus the greenback at 133.04 per dollar. Strong resistance can be seen at 133.78(38.2%fib), an upside break can trigger rise towards 135.49(23.6%fib).On the downside, immediate support is seen at 132.30(50%fib), a break below could take the pair towards 130.99 (61.8%fib).
European shares were little changed on Thursday as earnings proved to be a mixed bag and German government bond yields crept higher, echoing moves in U.S. Treasuries.
UK's benchmark FTSE 100 closed up by 0.55 percent, Germany's Dax ended down by 0.05 percent, France’s CAC finished the day up by 0.33 percent.
The S&P 500 and Nasdaq finished in the red as investors digested signs of cooling U.S. inflation and hopes the Federal Reserve could slow interest rate hikes against warnings that the battle with rising prices was far from over.
Dow Jones closed up by 0.08% percent, S&P 500 closed down by 0.07% percent, Nasdaq settled down by 0.58% percent.
U.S. Treasury yields pared an earlier drop on Thursday before the Treasury Department sells new 30-year bonds, even as data showed that U.S. producer prices unexpectedly fell in July.
Benchmark 10-year note yields fell two basis points to 2.759%. Two-year note yields fell 8 basis points to 3.136%.
Gold prices edged lower on Thursday, weighed down by prospects of more rate hikes by the U.S. Federal Reserve even as data pointed to signs of inflation peaking.
Spot gold fell 0.1% to $1,789.83 per ounce by 1741 GMT. U.S. gold futures settled down 0.4% at $1,807.2.
Oil prices settled up more than $2 on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices have some consumers switching to oil.
Brent crude futures gained $2.20, or 2.3%, to settle at $99.60 a barrel. U.S. West Texas Intermediate crude futures settled up $2.41, or 2.6%, to $94.34.
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