Europe Roundup: Sterling flat versus dollar, Gold rises, Oil prices edge higher ahead of G7 talks on new Russian sanctions-June 27th, 2022
America’s Roundup: Dollar dips as data keeps recession fears alive , Wall Street ended lower ,Gold slips, Oil falls on uncertainty over future OPEC+ output-July 1st,2022
America’s Roundup: Dollar boosted by safety bid on recession fears, Wall Street ends higher, Oil climbs more than 2% as supply cuts outweigh recession fears-July 2nd,2022
Europe Roundup: Sterling slides ahead of Bank of England rate call, European stocks slip, Gold steadies, Oil prices fall after U.S. rate hike, but tight supply still in focus-June 16th,2022
America’s Roundup: U.S. dollar gains from one-week low, Wall Street ends up, Gold falls, Oil slumps 6% to four-week low on recession worries-June 18th,2022
Europe Roundup: Euro struggles around $1.05 on gloomy PMIs, European shares falls, Gold dips, Oil rebounds as investors assess recession risks-June 23rd,2022
Europe Roundup: Sterling near one-week low vs dollar, European stocks fall, Gold edges lower, Oil prices rise for fourth day on supply worries-June 29th,2022
Europe Roundup:Pound gains as traders monitor upcoming BoE signals, European shares gains, Gold edges lower, Oil prices reverse losses, gain on concerns over supply shortages-July 4th,2022
Europe Roundup: Euro falls to two-decade low on recession fears, European shares fall , Gold dips Brent falls as recession fears deepen demand concerns-July 5th,2022
America’s Roundup: Dollar eases as investor await more cues from Fed, Gold firms, Oil swings higher as tight supplies overshadow demand destruction-June 21st,2022
Europe Roundup: Sterling heads for third week of losses as dollar stands tall, European shares gains, Gold falls, Oil rises on tight supply though interest rate hikes weigh-June 17th,2022
America’s Roundup: Dollar bounces from two-day slide,Wall Street plunges, Gold gains, Oil rebounds as new Iran sanctions fuel more supply concerns-June 17th,2022
America’s Roundup: Dollar gains as Powell doubles down on policy tightening, Wall Street ends higher, Gold slips, Oil prices slump as investors fear Fed rate hikes will hurt demand-June 24th,2022
Europe Roundup: Euro jumps as ECB holds unscheduled meeting, European stocks jump,Gold gains 1%, Oil prices fall as expected U.S. interest rate hike looms-June 15th,2022
Europe Roundup: Sterling retreats as UK inflation hits new 40-year high, European shares fall,Gold extends fall, Oil slumps by around $5-June 22nd,2022
Market Roundup: Sterling rises as BoE's Pill sees further rate rises ahead, European shares gain, Gold dips, Oil rises on market caution over tight supply-June 21st,2022
America’s Roundup: U.S. dollar hits 20-year high as risk aversion dominates, Wall Street ends down, Gold extends decline ,Oil tumbles about 6% as China COVID lockdowns weigh-May 10th,2022
•Canada Building Permits (MoM) -9.3%, 21.0% previous
• French 6-Month BTF Auction -0.579%, -0.519% previous
• French 3-Month BTF Auction -0.664%,-0.652% previous
• French 12-Month BTF Auction -0.120% ,-0.167% previous
•US Mar Wholesale Trade Sales (MoM) 1.7%, 1.7% previous
•US Apr CB Employment Trends Index 120.18, 120.56 previous
•US Wholesale Inventories (MoM) 2.3% ,2.3% forecast, 2.3% previous
•US 3-Month Bill Auction 0.900%,0.910% previous
•US 6-Month Bill Auction 1.385%,1.420% previous
Looking Ahead - Economic Data (GMT)
•01:30 Australia Retail Sales (QoQ) (Q1) 1.0% forecast, 8.2% previous
•01:30 Australia Apr NAB Business Confidence 16 previous
•01:30 Australia Apr NAB Business Survey 18 previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro was little changed against the U.S. dollar on Monday as worries about higher interest rates and a tightened lockdown in Shanghai deepened investors’ fears that the global economy is rapidly heading for a slowdown. Central banks in the United States, Britain and Australia all raised interest rates last week, and investors are bracing for more tightening as policymakers try to get on top of soaring inflation. Investors are awaiting U.S. inflation data for April, which might provide more signals about the future monetary tightening path of the Federal Reserve. Immediate resistance can be seen at 1.0557 (5DMA), an upside break can trigger rise towards 1.0597 (38.2%fib).On the downside, immediate support is seen at 1.0490(23.6%fib), a break below could take the pair towards 1.0422 (Lower BB).
GBP/USD: The pound fell to its lowest level since June 2020 for a third straight day on Monday against a broadly robust dollar. News that Irish nationalist party Sinn Fein won the most seats in the Northern Ireland’s devolved assembly for the first time in elections last Thursday added to the pound’s woes. Sterling was last down 0.4% at $1.2284, having fallen to as low as $1.2262 its lowest level in almost two years. It has hit a new low for three straight sessions, and is down 2.3% this month against the dollar. The greenback meanwhile hit a two-decade high as investors snapped up the safe-haven currency amid heightened uncertainty about the global growth outlook. Immediate resistance can be seen at 1.2405(38.2%fib), an upside break can trigger rise towards 1.2433(5DMA).On the downside, immediate support is seen at 1.2287 (23.6%fib), a break below could take the pair towards 1.2187(Lower BB).
USD/CAD: The Canadian dollar weakened to its lowest level in 17 months against its U.S. counterpart on Monday as rising worries about the global economic outlook weighed particularly heavily on commodity-linked currencies. The loonie was trading 0.6% lower at 1.2985 to the greenback, or 77.01 U.S. cents, after touching its weakest level since December 2020 at 1.30. The price of oil ,one of Canada's major exports, settled 6.1% lower at $103.09 a barrel and stocks globally extended recent declines as China's two largest cities tightened COVID-19 curbs. Bank of Canada Deputy Governor Toni Gravelle is due to speak on Thursday on the topic of commodities, growth and inflation,which could offer clues on the interest rate outlook. Immediate resistance can be seen at 1.3036(23.6%fib), an upside break can trigger rise towards 1.3063 (Higher BB).On the downside, immediate support is seen at 1.2948 (38.2%fib), a break below could take the pair towards 1.2901 (5DMA).
USD/JPY: The dollar steadied against yen on Monday as investors' tilt toward safety of dollar as lockdowns in China, war on the edge of Europe and fear about higher interest rates sent a nervous jolt through markets. Money markets expect the United States to raise interest rates by another 200 bps during the remainder of the year ,taking benchmark rates to nearly 3% .Treasury yields extended their rise for a third consecutive session with yields on benchmark 10-year debt pushing further above 3% to fresh 3-1/2 years. They have doubled in the past two months. Against a basket of major currencies, the dollar topped 104.19 on Monday for the first time since July 2002, extending its almost 9% rise this year. Strong resistance can be seen at 131.44(23.6%fib), an upside break can trigger rise towards 131.95 (Higher BB).On the downside, immediate support is seen at 130.23(5DMA), a break below could take the pair towards 129.45(38.2%fib).
European shares hit two-month lows on Monday, led by sectors including travel and leisure and technology as a mix of worries over prolonged COVID-19 curbs in China and surging bond yields fuelled selling pressure.
UK's benchmark FTSE 100 closed down by 2.32 percent, Germany's Dax ended down by 2.15 percent, France’s CAC finished the day up by 2.75 percent.
The S&P 500 ended below 4,000 for the first time since late March 2021 and the Nasdaq dropped more than 4% on Monday in a selloff led by mega-cap growth shares as investors grew more concerned about rising interest rates.
Dow Jones closed down by 1.99% percent, S&P 500 closed up by 3.20% percent, Nasdaq settled down by 4.28% percent.
Oil prices sank about 6% on Monday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, fed worries about the demand outlook.
Brent crude fell $6.45, or 5.7%, to settle at $105.94 a barrel. U.S. West Texas Intermediate crude fell $6.68, or 6.1%, to settle at $103.09 a barrel. Both contracts have gained about 35% so far this year.
Gold prices extended their retreat to fall more than 1% on Monday as the dollar hovered near two-decade highs, dimming the metal’s appeal.
Spot gold was down 1.4% at $1,856.26 per ounce by 02:00 p.m. EDT (1800 GMT). U.S. gold futures settled down 1.3% at $1,858.60.