Europe Roundup: Euro steadies against dollar, European shares mixed, Gold hits over 2-week peak ,Oil falls as demand concerns outweigh prospect of further OPEC+ cuts-November 21st,2023
Europe Roundup: Sterling nears three-month high , European shares inch lower, Gold gains, Oil slips 1% on concerns over delayed OPEC+ meeting-November 24th,2023
America’s Roundup: Dollar edges lower ahead of inflation data, Wall Street ends mixed, Gold gains, Oil settles up 1% as OPEC report dampens demand concerns-November 14th,2023
Europe Roundup: Pound weakens after UK retail sales unexpectedly falla in October,European shares gain,Gold hits two-week high ,Oil prices gains 2% as Iraq backs more output cuts from OPEC+-November 17th,2023
Europe Roundup: Sterling firms against dollar, European shares climb ,Gold steady, Oil wavers on weak demand outlook in US and China, Fed hedging-November 13th,2023
America’s Roundup: Dollar hits over 2-1/2-month low ,Wall Street closes up, Gold edges lower, Oil prices surges more than 2% amid expectations of OPEC intensifying production cuts-November 21st,2023
America’s Roundup: Dollar steady as U.S. jobless claims boost Fed rate cut bets, Wall Street ends mixed, Gold climbs, Oil prices slump to 4-month low on U.S., Chinese economic concerns-November 17th,2023
America’s Roundup: Dollar weakens as investors wait on Fed rate path, Wall Street climbs. Gold gains, Oil slips 1% on concerns over delayed OPEC+ meeting-November 24th,2023
America’s Roundup: Dollar holds steady as traders seek more Fed cues, Wall Street ends mixed, Gold retreats, Oil slides over 2% on demand worries-November 9th,2023
America’s Roundup: Dollar languishes near 2-1/2-month low, Wall Street ends lower, Gold gains, Oil edges lower on caution ahead of OPEC+ meeting-November 22nd,2023
Europe Roundup: Sterling rises to highest since early Sept on PMI beat , European shares edge higher, Gold gains, Oil slips 1% on growing angst over delayed OPEC+ meeting-November 23rd,2023
America’s Roundup: Dollar set for weekly slide as US inflation cools ,Wall Street ends up, Gold steady, Oil jumps 4% after week-long selloff, but falls for a fourth week-November 18th,2023
America’s Roundup: Dollar gains after Powell warns on rates , U.S. stocks closes lower, Gold holds some gains, Brent oil finishes over $80 after this week's sell-off-November 10th,2023
America’s Roundup: Dollar gains on retail sales data, Wall Street gains, Gold steadies, Oil prices dive on big US crude stock build, record output-November 16th,2023
America’s Roundup: Dollar rebounds from 2-1/2-month lows, Wall Street closes higher,Gold drops ,Oil edges lower in choppy trade as OPEC+ delays meeting-November 23rd,2023
America’s Roundup: Dollar bounces after sharp selloff, Wall Street ends higher ,Gold retreats, Oil dives 4% to lowest since July on demand worry-November 8th,2023
America’s Roundup: Dollar rises after unexpected rise in U.S. consumer prices, Wall Street tumbles, Gold dips, Oil dips nearly 1%, reversing earlier gains-September 14th,2022
•US Consumer price index rises 0.1% in August
•US Core CPI surges 0.6%; increases 6.3% year-on-year
•Oil prices lose ground, Treasury yields rise
•US indexes slide: Dow 3.94%, S&P 4.32%, Nasdaq 5.16%
•US Aug CPI Index, s.a 295.62, 295.27 previous
•US Aug Real Earnings (MoM) -0.1%, 0.5% previous
•US Aug CPI Index, n.s.a 296.17, 295.53 forecast, 296.28 previous
•US Aug Core CPI (MoM) 0.6%, 0.3% forecast, 0.3% previous
•US Aug Core CPI (YoY) 6.3%, 6.1% forecast, 5.9% previous
•US Aug CPI (YoY) 8.3%, 8.1% forecast, 8.5% previous
•US Aug CPI (MoM) 0.1%, -0.1% forecast, 0.0% previous
•US Redbook (YoY) 11.4%,10.9% previous
•US IBD/TIPP Economic Optimism 44.7, 38.1 previous
•US Aug Cleveland CPI (MoM) 0.7%, 0.5% previous
•US Aug Federal Budget Balance -220.0B, -213.5B forecast, -211.0B previous
Looking Ahead - Economic Data (GMT)
•23:50 Japan Jul Core Machinery Orders (YoY) 6.6% forecast, 6.5% previous
•23:50 Japan Jul Core Machinery Orders (MoM) -0.8% forecast, 0.9% previous
•04:30 Japan Jul Industrial Production (MoM) 1.0% forecast, 1.0% previous
•04:30 Japan Jul Capacity Utilization (MoM) 9.6% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro declined sharply against dollar on Tuesday after stronger-than-expected U.S. inflation data boosted investor bets that the Federal Reserve will need to stay aggressive in raising interest rates. U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday. The consumer price index edged up 0.1% last month after being unchanged in July. The euro was last down 1.5% versus the greenback at $0.9973, after hitting a nearly one-month high of $1.0198 in the previous session. Immediate resistance can be seen at 0.9997(5DMA), an upside break can trigger rise towards 1.0035( (38.2%fib).On the downside, immediate support is seen at 0.9956(23.6%fib), a break below could take the pair towards 0.9883 (Lower BB).
GBP/USD: Sterling declined on Tuesday as dollar climbed after data showed U.S. consumer prices rising faster than expected in August, prompting bets for more aggressive Federal Reserve rate hikes. Monthly U.S consumer prices unexpectedly rose in August as declining gasoline prices were offset by gains in the costs of rent and food. The consumer price index gained 0.1% last month after being unchanged in July, while the 12 months through August the CPI increased 8.3%. Economists polled had forecast the monthly CPI dipping 0.1% and year-over-year rising 8.1%. Sterling was last trading at $1.1517, down 1.39% on the day. Immediate resistance can be seen at 1.1546(5DMA), an upside break can trigger rise towards 1.1592(38.2%fib).On the downside, immediate support is seen at 1.1458 (23.6%fib),a break below could take the pair towards 1.1377(Lower BB).
USD/CAD: The Canadian dollar on Tuesday posted its biggest decline in more than two months against the greenback as U.S. inflation data bolstered bets that the Federal Reserve would continue to raise interest rates aggressively. U.S. dollar jumped against a basket of major currencies after hotter-than-expected U.S. consumer price data dashed hopes that the Fed could relent and scale back its policy tightening in the near future. The price of oil, one of Canada's major exports, reversed earlier gains, with U.S. crude futures settling down 0.5% at $87.31 a barrel. The Canadian dollar was trading 1.2% lower at 1.3145 to the greenback, its biggest decline since July 5. Immediate resistance can be seen at 1.3177(23.6%fib), an upside break can trigger rise towards 1.3218(Higher BB).On the downside, immediate support is seen at 1.3111 (11DMA), a break below could take the pair towards 1.3093(38.2%fib).
USD/JPY: The dollar rose higher against the yen on Tuesday after data showed U.S. consumer prices rose faster than expected in August, prompting bets for more aggressive Federal Reserve rate hikes. U.S. headline inflation came in at 8.3% in August, rising more than expected, and underlying inflation picked up amid rising costs for rents and healthcare, giving the Fed ammunition to deliver a third 75 basis points interest rate hike next Wednesday. The dollar index rose 1.534% in its biggest one-day percentage gain since March 19, 2020.The Japanese yen weakened 1.17% versus the safe-haven greenback at 144.52 per dollar. Strong resistance can be seen at 145.19(23.6%fib), an upside break can trigger rise towards 146.00(Psychological level).On the downside, immediate support is seen at 143.77(5DMA), a break below could take the pair towards 142.80(5DMA).
European shares tripped 1.6% on Tuesday, retreating from two-week highs hit earlier in the session, as hotter than expected U.S. inflation data cemented bets for another large interest rate hike by the Federal Reserve.
UK's benchmark FTSE 100 closed down by 1.17 percent, Germany's Dax ended down by 1.59 percent, France’s CAC finished the day down by 1.39 percent.
A broad sell-off sent U.S. stocks reeling on Tuesday after a hotter-than-expected inflation report dashed hopes that the Federal Reserve could relent and scale back its policy tightening in the coming months.
Dow Jones closed down by 3.94% percent, S&P 500 closed down by 4.32% percent, Nasdaq settled down by 5.16% percent.
U.S. Treasury yields surged and a closely watched inversion of the yield curve widened on Tuesday after monthly U.S consumer prices unexpectedly rose in August, signaling to the market that the Federal Reserve will crack down further on inflation.
Benchmark 10-year notes last fell 18/32 in price to yield 3.4293%, from 3.362% late on Friday. The 30-year bond last fell 1/32 in price to yield 3.5139%, from 3.513%. The 2-year note last fell 12/32 in price to yield 3.7643%, from 3.571%.
Gold prices fell more than 1% as the dollar jumped after an unexpected rise in August consumer prices cemented bets for aggressive rate hikes from the U.S. Federal Reserve.
Spot gold prices fell 1.1% to $1,705.94 per ounce by 11:04 a.m. ET (1504 GMT).U.S. gold futures fell 1.3% to $1,717.30.
Oil prices ended nearly 1% lower on Tuesday, reversing earlier gains as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week.
Brent crude for November delivery settled 83 cents lower at $93.17 a barrel with a 0.9% loss, after trading between $95.53 and $91.05. U.S. October crude futures closed down 47 cents, or 0.5%, at $87.31, after touching a high of $89.31 and low of $85.06.
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