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America's Roundup: Dollar up as U.S. data lifts greenback, Wall Street rises, Gold snaps four straight sessions of gains, Oil slips but holds near 2019 peak as supplies tighten-March 22nd 2019

Market Roundup

• IMF supports U.S. Fed's 'patient' halt to rate hikes

• Bank of England keeps rates on hold as businesses brace for no-deal Brexit

• EU offers Brexit delay to May 22, steps up pressure on London

• Canada adds jobs in February, led by professional services -ADP

• US 16 Mar, w/e Initial Jobless Claims, 221k, 225k forecast, 229k previous, 230k revised

• US 9 Mar, w/e Continued Jobless Claims, 1.750 mln, 1.772 mln forecast, 1.776 mln previous, 1.777 mln revised

• US Mar Philly Fed Business Indx, 13.7, 4.5 forecast, -4.1 previous

Looking Ahead - Economic Data (GMT)

• 21 Mar (1800 ET/22:00 GMT) Australia Mar Manufacturing PMI, 53.1 previous

• 21 Mar (1800 ET/22:00 GMT) Australia Mar Services PMI, 49.3 previous

• 21 Mar (1800 ET/22:00 GMT) Australia Mar Composite PMI, 49.7 previous

• 21 Mar (1830 ET/22:30 GMT) Japan Feb CPI, Core Nationwide YY, 0.8% forecast, 0.8% previous

• 21 Mar (1830 ET/22:30 GMT) Japan Feb CPI, Overall Nationwide, 0.2% previous

• 21 Mar (1830 ET/22:30 GMT) Japan Feb CPI MM NSA, 0.0% previous

• 22 Mar (19:30 ET/00:30 GMT) Japan Mar Nikkei Mfg PMI Flash, 48.9 previous

Looking Ahead - Events, Other Releases (GMT)

• N/A ECB President Mario Draghi participates in European Council meeting in Brussels, Belgium.

• 07:40 Norway Central Bank Deputy Governors Jon Nicolaisen and Egil Matsen to give speeches to Regional network, region North in Harstad, Norway

• 08:15 Opening remarks by ECB Board Member Luis de Guindos at the ECB colloquium, marking the end of the tenure of Ignazio Angeloni as a member of the supervisory board of the European Central Bank in Frankfurt, Germany

• 08:30 Speech by ECB Board Member Ignazio Angeloni at the ECB colloquium, marking the end of his tenure as a member of the supervisory board of the European Central Bank in Frankfurt, Germany

• 10:05 Speeches by Governor Oystein Olsen and Carine Smith Ihenacho, chief corporate governance officer in Norges Bank Investment Management in Loen, Norway

• 10:30 Participation by ECB Board Member Andrea Enria in session 2 at the ECB colloquium, marking the end of the tenure of Ignazio Angeloni as a member of the supervisory board of the European Central Bank in Frankfurt, Germany

Currency Summaries

EUR/USD: The euro slipped lower against the U.S. dollar on Thursday, as  a set of better than expected U.S data lifted the dollar. The number of Americans filing applications for unemployment benefits fell more than expected last week, and other data showed a measure of factory activity in the mid-Atlantic region rebounding sharply this month after heavy falls. The euro was down 0.38 percent at $1.1370. An index that tracks the dollar versus a basket of six major currencies was up 0.49 at 96.40 after hitting a 16-month high of 97.693 on Monday. Immediate resistance can be seen at 1.1374 (50% retracement level), an upside break can trigger rise towards 1.1405 (38.2% retracement level).On the downside, immediate support is seen at 1.1325 (21 DMA), a break below could take the pair towards 1.1305 (21 DMA).

GBP/USD: British pound declined against the dollar on Thursday, as stronger dollar and growing fears of a "no-deal” weighed on British pound. Traders said the risks of a no-deal Brexit have grown in the last 48 hours, sending the British currency falling across the board. Sterling tumbled 1.3 percent to $1.3004, its biggest daily drop since December 2018. It has fallen nearly 3 percent from a nine-month high of near $1.34 hit last week. It also weakened 0.8 percent to 87.15 pence against the euro. Immediate resistance can be seen at 1.3174 (21 DMA), an upside break can trigger rise towards 1.3228 (Daily high).On the downside, immediate support is seen at 1.3000 (Psychological level), a break below could take the pair towards 1.2908 (100 DMA).

USD/CAD: The Canadian dollar declined against its U.S. counterpart on Thursday, as   lower oil prices and stronger greenback offset upbeat domestic data. Canadian wholesale trade increased by 0.6 percent in January from December on stronger sales in the machinery, equipment and supplies subsector, Statistics Canada said. Analysts had forecast a 0.5 percent increase. A separate report from ADP showed that Canada added 36,200 jobs in February, led by hiring in the professional and business services sector. The Canadian dollar   was trading 0.58 percent lower at 1.3380 to the greenback. Immediate resistance can be seen at 1.3400 (Psychological Level), an upside break can trigger rise towards 1.3455 (61.8% retracement level).On the downside, immediate support is seen at 1.3331 (5 DMA), a break below could take the pair towards 1.3267 (50 DMA).

USD/JPY: The U.S. dollar strengthened against the yen on Friday, as the greenback recouped most of the ground lost in the previous session after the Federal Reserve jolted markets by abandoning all plans to raise rates this year.The dollar index, which measures the greenback against six major currencies, was up 0.57 percent at 96.45. The index fell 0.6 percent on Wednesday, closiing below its 200-day moving average for the first time in more than 10 months. The dollar was 0.11 higher versus the Japanese yen at 110.80. Strong resistance can be seen at 111.11  (11 DMA), an upside break can trigger rise towards 111.42 (61.8% retracement level).On the downside, immediate support is seen at 110.29 (38.2% retracement level), a break below could take the pair towards 109.60 (23.6% retracement level). 

Equities Recap

European stock markets slipped for a second day on Thursday, weighed down by financial stocks and a sharp drop in French-Italian glasses company EssilorLuxottica.

UK's benchmark FTSE 100 closed up by 0.9 percent, the pan-European FTSEurofirst 300 ended the day down 0.01 percent, Germany's Dax ended down by 0.40 percent, France’s CAC finished the day flat.

An Apple-led tech rally pushed Wall Street higher on Thursday as jitters over the Federal Reserve's forecast of an economic slowdown were calmed by upbeat economic data.

Dow Jones closed down by 0.86 percent, S&P 500 ended upby 1.10 percent, Nasdaq finished the day up by 1.45 percent.

Treasuries Recap

The spread between the three-month Treasury bill yield and the 10-year note yield shrank to its narrowest level since August 2007 on Thursday in the wake of the Federal Reserve's decision to cease tightening monetary policy as the American economy shows signs of contraction.

The benchmark 10-year yield, which reflects investor views on the overall health of the economy, fell to a 14-month low on Wednesday but was last up 0.3 basis point to 2.541 percent. The two-year yield, which reflects investor expectations about interest rate hikes on Wednesday fell 6.9 basis points but was last up 1.2 basis points at 2.413 percent.

Commodities Recap

Gold prices dipped on Thursday in volatile trade after hitting three-week highs earlier in the session as a set of better than expected U.S data lifted the dollar, while palladium notched a record peak on supply concerns.

Spot gold slipped 0.4 percent to $1,307.23 per ounce as of 2 p.m. EDT (1800 GMT), having earlier hit $1,320.22, its highest level since Feb. 28. The metal was set to snap five consecutive sessions of gains. However, U.S. gold futures   settled 0.4 percent higher at $1,307.3 an ounce.

Oil fell nearly 1 percent on Thursday, but held near 2019 highs, supported by a tightening of global stocks, OPEC production cuts and U.S. sanctions on key producers Iran and Venezuela.

Brent crude futures fell 64 cents, or 0.9 percent, to settle at $67.86 a barrel. U.S. crude fell 25 cents to $59.98 a barrel after hitting an intraday high of $60.33, its highest since Nov. 12.

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April 18 23:30 UTC Released

JPCPI Less Food and Energy

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101.5 Index

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Previous

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April 18 23:30 UTC Released

JPNationwide Core CPI YY

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0.3 Percent

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0.3 Percent

January 31 00:00 UTC 637946637946m

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January 31 00:00 UTC 637946637946m

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January 22 19:00 UTC 649766649766m

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-1541 %

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January 22 19:00 UTC 649766649766m

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-1541 %

January 31 00:00 UTC 637946637946m

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