Europe Roundup: Sterling falls after data showed the UK economy contracted in June, European shares rise, Gold edges lower, Oil prices set for weekly climb, but cloudy outlook caps gains-August 12th,2022
America’s Roundup:U.S. dollar index gains, Wall Street indexes close up, Gold gains, Oil prices sheds 2% a barrel-August 13th,2022
Europe Roundup: Sterling struggles as inflation outlook worsens sentiment, European shares gains, Gold near two-week low, Oil prices ease as Russia output increases-August 18th,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 gains ahead of key U.S. inflation data, European shares dips, Gold flat, Oil drops on Druzhba pipeline news and U.S. inflation expectations-August 10th,2022
Europe Roundup: Euro notch up on US inflation data,European shares little changed, Gold subdued,Oil rises as IEA hikes 2022 demand growth forecast-August 11th,2022
Europe Roundup: British pound falls against dollar on gloomy BoE outlook, European shares dips,Gold falls, Oil prices set to end week at multi-month lows on recession fears-August 5th,2022
America’s Roundup: Dollar dips as U.S. growth falls in Q2,Wall Street rises, Gold gains, Oil mixed as U.S. gasoline demand rebounds but recessionary fears loom-July 29th,2022
America’s Roundup: Dollar edges down, Wall Street ends mixed , Gold gains, Oil prices hit lowest level since the invasion of Ukraine on recession fears-August 5th,2022
Europe Roundup: Sterling edges lower after hot UK inflation data , European shares slide, Gold edges lower, Oil slips to six-month low as recession fears weigh-August 17th,2022
Europe Roundup: Sterling edges higher, rate hike outlook remains in focus , European shares edge lower, Gold consolidates, Oil slips amid chance of Iran nuclear deal supply boost-August 9th,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 steady before retail sales, Fed minutes, Wall Street ends mixed,Gold eases, Oil falls to 6-mth low on economic data, awaits news of Iran nuclear deal-August 17th,2022
America’s Roundup: Dollar falls on lower than expected US inflation data, Wall Street rallies, Gold edges lower, Oil rises on renewed gasoline demand, weak dollar-August 11th,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
Europe Roundup: Euro fall on weak German ZEW economic sentiment ,European shares gain, Gold extends losses, Oil extends losses as weak demand outlook persists-August 16th,2022
Asia Roundup: Aussie eases as crude oil declines, dollar falls against yen on risk-off market sentiment, investors await ECB President Draghi’s speech - Monday, May 29th, 2017
Economic Data Ahead
Key Events Ahead
DXY: The dollar steadied versus its major peers, despite U.S. markets closed for the Memorial Day holiday. The greenback against a basket of currencies traded flat at 97.46, hovering towards a 1-week of 97.55 hit on Friday, it’s highest since May 19. FxWirePro's Hourly Dollar Strength Index stood at 35.10 (Neutral) by 0500 GMT.
EUR/USD: The euro declined, extending losses for the third consecutive session, as investors cautiously awaited the European Central Bank President Mario Draghi's speech at the European Parliament today. However, ECB President's will most likely reiterate the last week’s message on Eurozone recovery, hence, his address to the EU Parliament could turn out to be a non-event for the major. The European currency traded 0.1 percent down at 1.1164, having touched a low of 1.1160 on Friday, its lowest since May 19. FxWirePro'sHourly Euro Strength Index stood at 20.78 (Neutral) by 0400 GMT. Investors’ attention will remain on the European Central Bank President Mario Draghi's speech, as the U.S economic calendar remains absolutely data empty. Immediate resistance is located at 1.1205 (5-DMA), a break above targets 1.1250. On the downside, support is seen at 1.1155 (10-DMA), a break below could drag it near 1.1103 (61.8% retrace).
USD/JPY: The dollar opened with a bearish gap as continuing political turmoil in Washington kept investors cautious. The trading volumes are likely to remain thin on account of the Memorial Day holiday. The major traded down at 111.30, having touched a low of 110.87 on Friday, its lowest since May 23. FxWirePro's Hourly Yen Strength Index stood at 54.38 (Bullish) by 0400 GMT. Investors’ will continue to track broad based market sentiment, amid a lack of data from the U.S. docket. Immediate resistance is located at 111.81 (10-DMA), a break above targets 112.11 (May 24 HIgh). On the downside, support is seen at 110.95 (38.2% retracement of 110.23 and 111.48), a break below could take it near 110.68 (23.6% retrace).
GBP/USD: Sterling slightly recovery after tumbling to a three-week low below the 1.2800 in the prior session as latest weekend polls showed British Prime Minister Theresa May's lead over the opposition Labour Party had narrowed sharply, indicating the election could be much tighter than initially expected. The trading volumes are likely to be thin on account of the bank holiday in London. Sterling trades 0.2 percent up at 1.2827, having hit a low of 1.2775 on Friday, its weakest since Apr. 25. FxWirePro's Hourly Sterling Strength Index stood at -117.97 (Highly Bearish) by 0400 GMT. Investors’ will continue to track developments surrounding UK elections, amid a lack of data from the UK and U.S. docket. Immediate resistance is located at 1.2832 (78.6% retracement of 1.3046 and 1.2774), a break above could take it over 1.2900. On the downside, support is seen at 1.2775 (Previous Session Low), a break below targets 1.2750. Against the euro, the pound traded 0.3 percent up at 87.04 pence, having hit a fresh 2-1/2 month low of 87.50 on Friday.
AUD/USD: The Australian dollar eased, extending losses for the third straight session, as the crude oil prices declined to multi-week lows on increasing U.S. drilling activity. The Aussie trades 0.1 percent down at 0.7437, having hit a low of 0.7422 on Friday, it’s weakest since May. 19. FxWirePro's Hourly Aussie Strength Index stood at -72.87 (Bearish) by 0500 GMT. Investors will continue to track sentiments around the commodity bloc, ahead of Australia's building permits data due on Tuesday. Immediate support is seen at 0.7422 (50.0% retracement of 0.7328 and 0.7516), a break below targets 0.7400 (38.2% retrace). On the upside, resistance is located at 0.7470 (5-DMA), a break above could take it near 0.7500.
NZD/USD: The New Zealand dollar steadied after rising to a two-month high on Friday as Global dairy prices rose five times in a row in the past two months. Investors now wait for Wednesday's central bank financial stability report which is likely to show ongoing risks in the housing sector, however, an improved outlook for dairy. The Kiwi trades flat at 0.7062, having touched a peak of 0.7076 the prior session, its strongest since Mar. 21. FxWirePro's Hourly Kiwi Strength Index was at 71.59 (Bullish) by 0500 GMT. Investors’ will continue to track overall market sentiment, with the U.S. markets closed in wake of the Memorial Day holiday. Immediate resistance is located at 0.7089 (Mar. 21 High), a break above could take it over 0.7100. On the downside, support is seen at 0.7020 (78.6% retracements of 0.6817 and 0.7076), a break below could drag it till 0.6977 (61.8% retrace).
Asian shares reversed some of their earlier gains and drifted lower amid risk-off sentiment, with U.S, Britain and Chinese markets closed for holidays.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent.
Tokyo's Nikkei rose 0.1 percent to 19,712.76 points, Australia's S&P/ASX 200 index declined 0.7 percent to 5,709.40 points.
South Korea's KOSPI added 0.01 percent to 2,355.60 points. Hong Kong’s Hang Seng was trading 0.1 percent higher at 25,677.70 points.
Chinese and Taiwan markets will be closed in observance of the Dragon Boat Festival.
Crude oil prices declined, hovering towards multi-week lows as continues rise in U.S. drilling undermined an OPEC’s efforts to tighten supply. International benchmark Brent crude was trading 0.4 percent up at $51.98 per barrel by 0402 GMT, having hit a low of $50.70 the previous session, its weakest since May 12. U.S. West Texas Intermediate fell 0.4 percent to $49.64 a barrel, after falling as low as $48.16 on Friday, its lowest since May 18.
Gold prices steadied near its highest in four weeks after rising almost 1 percent in the prior session, as geopolitical tensions supported its safe-haven demand. Spot gold was trading flat at $1,266.10 per ounce at 0413 GMT, having rallied 0.9 percent to hit its strongest since May 1 at $1,269.35 on Friday. U.S. gold futures slipped 0.1 percent to $1,266.4 an ounce.
The 10-year U.S Treasury yield stood at 2.25 percent, while 5-year yield was at 1.791 percent.
The Australian bonds sunk on the first trading day of the week as investors cashed in profits, following a silent trading session that witnessed data of less economic significance. The yield on the benchmark 10-year Treasury note jumped 2 basis points to 2.44 percent, the yield on the 15-year note climbed nearly 1-1/2 basis points to 2.83 percent and the yield on short-term 2-year traded nearly 2 basis points higher at 1.60 percent.
The New Zealand bonds plunged as investors wait to watch the Reserve Bank of New Zealand Governor Graeme Wheeler’s speech, alter this week amid a muted trading session. At the time of closing, the yield on the benchmark 10-year bond jumped 3-1/2 basis points to 2.86 percent, the yield on 7-year note also climbed 3-1/2 basis points to 2.74 percent while the yield on short-term 2-year note traded 1 basis point lower at 1.96 percent.