Europe Roundup: Sterling gains, shrugs off factory data ahead of BoE, European shares rise, Gold extends gains, Oil drops as weak Chinese factory data heightens demand concerns-August 1st,2022
Europe Roundup: Euro steady ahead of ECB's rate decision, European shares dips, Gold hits over 1-year low, Oil prices slump as stockpiles and rate hikes stoke demand fears-July 21st,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 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 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 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: Euro falls as gloomy PMIs cloud prospects for future ECB hikes, European shares edge higher, Gold little changed, Oil prices fall as Libya resumes output, global demand outlook darkens-July 22nd,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
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 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: 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 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 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: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: Sterling loses steam as traders turn to safe-haven currencies, European shares dips, Gold steadies, Oil slips as global demand concerns weigh, OPEC+ meeting eyed-August 2nd,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
America’s Roundup: Dollar scales fresh 2-decade peak, Wall Street ends sharply lower, Gold slides over 2%, Oil rises on tight supplies and choppy demand worries-June 14th,2022
•French 6-Month BTF Auction 0.531%, -0.295% previous
•French 3-Month BTF Auction-0.457%, -0.555% previous
•French 12-Month BTF Auction -0.178% ,0.239% previous
• UK NIESR GDP Estimate -0.1%,0.3% previous
• US 3-Month Bill Auction1.640%, 1.230% previous
• US 6-Month Bill Auction1.490%, 1.710% previous
Looking Ahead Economic Data(GMT)
•01:00 Australia House Price Index (QoQ) (Q1) 1.4% forecast, 4.7% previous
•01:00 Australia May NAB Business Confidence 10 previous
•01:00 Australia May NAB Business Confidence 10 previous
•04:30 Japan Apr Capacity Utilization (MoM) -1.6% previous
•04:30 Japan Apr Industrial Production (MoM) -1.3% previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro declined on Monday as dollar resumed its march as red-hot U.S. inflation fuelled worries about even more aggressive policy tightening in a big week for central banks. The inflation reading unnerved investors , as markets ratcheted up expectations on where U.S. interest rates would peak next year to around 4% from around 3% less than two weeks ago. Expectations of even more aggressive rate hikes from global central banks prompted investors to ramp up their bullish bets on dollar. This is a big week for central banks with the Fed, the Bank of England and Swiss National Bank holding policy meetings. 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 1.0397(23.6%fib), a break below could take the pair towards 1.0361(Lower BB).
GBP/USD: Sterling declined against dollar on Monday after data showed Britain's economy unexpectedly shrank in April and from tensions with the European Union over post-Brexit trade with Northern Ireland. Gross domestic product contracted by 0.3% after falling by 0.1% in March, the first back-to-back declines since March and April 2020, at the start of the coronavirus pandemic. British economic growth is already expected to be among the weakest for rich countries in 2023, and there is uncertainty over how fast the Bank of England can raise interest rates to tame inflation without further hurting the economy. Immediate resistance can be seen at 1.2280(38.2%fib),an upside break can trigger rise towards 1.2316(5DMA).On the downside, immediate support is seen at 1.2093(23.6%fib), a break below could take the pair towards 1.2000 (Psychological level).
USD/CAD: The Canadian dollar fell to its lowest level in nearly three weeks against its broadly stronger U.S. counterpart on Monday as oil prices fell and investors weighed the prospect of aggressive interest rate hikes by global central banks to tackle inflation. Investors worry that aggressive monetary tightening by the Fed could tip the U.S. economy into recession. The price of oil, one of Canada's major exports, dropped as a flare-up in COVID-19 cases in Beijing dented hopes of a Chinese demand rebound.U.S. crude prices fell 1% to $119.42 a barrel, while the Canadian dollar was trading 0.6% lower at 1.2863 to the greenback , its fourth consecutive day of losses. Immediate resistance can be seen at 1.2901 (23.6%fib), an upside break can trigger rise towards 1.2950 (Higher BB).On the downside, immediate support is seen at 1.2803 (38.2%fib), a break below could take the pair towards 1.2705 (5 DMA).
USD/JPY: The dollar declined against dollar on Monday as yen strengthened on speculation Japanese authorities could intervene to support the currency. The Bank of Japan (BoJ) has so far resisted pressure to tighten policy, weakening the country's currency. The policy divergence has sent the yen down more than 15% against the dollar since early March.Japan's top government spokesperson said on Monday Tokyo stood ready to "respond appropriately" if needed. The yen fell as much as 0.6% on the day to 135.22 yen per dollar, its lowest since 1998. It was last trading at 134.00 yen per dollar. Strong resistance can be seen at 134.98 (23.6%fib), an upside break can trigger rise towards 135.31(Higher BB).On the downside, immediate support is seen at 133.12 (38.2%fib), a break below could take the pair towards 132.01(50%fib).
European stocks tanked on Monday, extending losses from the previous session, as fears of a possible recession and news of a "ferocious" COVID-19 outbreak in Beijing's most populous district of Chaoyang sapped investors' appetite for riskier assets.
UK's benchmark FTSE 100 closed up by 1.09 percent, Germany's Dax ended down by 0.80 percent, France’s CAC finished the day down by 0.78percent.
The U.S. stock market's brutal year reached a grim milestone as the S&P 500's slide on Monday confirmed a bear market for the first time since March 2020, fueled by worries over sky-high inflation, a hawkish Federal Reserve and future economic growth.
Dow Jones closed down by 2.79% percent, S&P 500 closed by 3.88% percent, Nasdaq settled down by 4.68% percent.
Benchmark 10-year Treasury yields hit their highest level since 2011 on Monday, and a key part of the yield curve inverted for the first time since April as investors braced for the prospect that the Federal Reserve’s attempts to stem soaring inflation will dent the economy.
Two-year yields reached 3.283%, the highest since December 2007. Five-year yields rose to 3.489%, the highest since July 2008, Benchmark 10-year yields hit 3.381%, the highest since April 2011.
The yield curve between two-year and 10-year notes inverted as far as 2 basis points, before rebounding to positive territory at 9 basis points.
Gold and palladium suffered sharp declines on Monday, as the dollar rallied on bets for steep interest rate hikes by the U.S. Federal Reserve, eroding appeal for bullion and other precious metals.
Spot gold fell 2.2% to $1,829.08 per ounce by 1:45 p.m. EDT (1745 GMT). Gold futures settled down 2.3% at $1,831.80.
Oil prices rose on Monday in a session of volatile trade as tight global supplies outweighed worries that demand would be pressured by a flare-up in COVID-19 cases in Beijing and more interest rate hikes.
Brent crude rose 26 cents to settle at $122.27 a barrel. U.S. West Texas Intermediate crude rose 26 cents to settle at $120.93 a barrel. Trade was volatile, with prices down about $3 a barrel earlier.