Europe Roundup: Sterling drifts higher but capped by weak data, European shares gain, Gold ticks up, Oil rises on U.S. inventory drop, Russian gas cuts-July 27th,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: 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: 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 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
America’s Roundup: Dollar slides as mixed U.S. data highlights uncertain path , Wall Street ends higher, Gold gains, Oil up over $2 per barrel as hopes fade for OPEC+ supply boost-July 30th,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
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
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 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
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: 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 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
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
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 slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,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
•German May WPI (YoY)22.9%,23.8%previous
•Swiss May PPI (MoM) 0.9%,1.3% previous
•Swiss May PPI (YoY) 6.9%,6.7% previous
•French May HICP (YoY) 5.8%,5.8%forecast,5.4% previous
•French May HICP (MoM) 0.8%,0.7% forecast,0.5% previous
•French May CPI (MoM) 0.7%,0.6% forecast,0.4% previous
•EU Apr Industrial Production (MoM) 0.4%,-2.0% forecast,-1.8% previous
•EU Apr Trade Balance -32.4B,-16.4B forecast
Looking Ahead Economic Data
•12:15 Canada May Housing Starts 252.6K forecast,267.3K previous
•12:30 US May Import Price Index (MoM) 1.1% forecast,2.9% previous
•12:30 US May Retail Sales (MoM) 0.2% forecast, 0.9% previous
•12:30 US May Core Retail Sales (MoM) 0.8% forecast, 0.6% previous
•12:30 US May Export Price Index (MoM) 1.3% forecast,0.6% previous
•12:30 US Jun NY Empire State Manufacturing Index 3.00 forecast,-11.60 previous
•12:30 US May Retail Control (MoM) 0.5% forecast,1.0% previous
•14:00 US Apr Retail Inventories Ex Auto 1.7% previous
•14:00 US Apr Business Inventories (MoM) 1.2% forecast, 2.0% previous
•14:00 US Crude Oil Inventories -1.314M forecast, 2.025M previous
•14:30 US Gasoline Inventories 1.066M forecast,-0.812M previous
•18:00 US Fed Interest Rate Decision1.50% forecast,- 1.00% previous
Looking Ahead - Events, Other Releases (GMT)
•18:00 US FOMC Economic Projections
•18:00 US FOMC Statement
•18:30 US FOMC Press Conference
EUR/USD: The euro jumped on Wednesday after the ECB's governing council said it would hold an emergency meeting on Wednesday to discuss the recent sell-off in government bond markets, briefly distracting traders ahead of a much-watched Fed meeting. The European common currency rose as much as 0.7% against the dollar to $1.04945, following the announcement of the meeting, which comes after the spread between the yields of Germany and more indebted southern nations, particularly Italy, soared to its highest in over two years. 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 1.0395(23.6%fib), a break below could take the pair towards 1.0361(Lower BB).
GBP/USD: Sterling recovered from its lowest level against the dollar since March 2020 on Wednesday, but the reprieve could prove temporary with slowing UK economic growth and a potential trade conflict with the European Union weighing on the currency.Britain's growth prospects are seen among the weakest for rich countries in 2023, and there is uncertainty over how fast the Bank of England - which is expected to raise interest rates again on Thursday - can tighten policy this year to tame inflation without further hurting the economy. The pound, which plunged below $1.20 on Tuesday for the first time since the COVID-19 crash in March 2020, bounced back 0.75% to 1.2086.Immediate resistance can be seen at 1.2088(Daily high),an upside break can trigger rise towards 1.2159 (38.2%fib).On the downside, immediate support is seen at 1.9984(Daily low), a break below could take the pair towards 1.9925 (23.6%fib).
USD/CHF: The dollar dipped against the Swiss franc on Wednesday as investors waited to see just how aggressive the Federal Reserve would go on rates.The Federal Reserve policy meeting is due to conclude later on Wednesday, and markets are pricing in an 87% chance of an outsized 75 basis point interest rate hike as policymakers try to rein in rampant inflation. Expectations picked up following media reports, first by the Wall Street Journal, that a bigger rate increase was on the cards, after data released last week showed the U.S. consumer price index surged 8.6% in the 12 months to May, the largest year-on-year increase in four decades .Immediate resistance can be seen at 1.0041 (23.6%fib), an upside break can trigger rise towards 1.0059(May 16th high).On the downside, immediate support is seen at 0.9944 (38.2%fib), a break below could take the pair towards 0.9875(50%fib).
USD/JPY: The dollar dipped against dollar on Wednesday as investors waited to see just how aggressive the Federal Reserve would be on rates, with many fearing drastic action would risk tipping the world into recession. Investors await the Federal Open Market Committee’s policy decision on interest rate, due at 1800 GMT. Hotter-than-expected U.S. inflation data released last week has prompted investors to price in an interest rate increase of 75 basis points (bps) rather than reached heights last visited in 1998 at 135.60. The dollar was trading at 135.27 yen, having reached heights last visited in 1998 at 135.60.Strong resistance can be seen at 135.89 (23.6%fib), an upside break can trigger rise towards 136.51(Higher BB).On the downside, immediate support is seen at 133.18 (10DMA), a break below could take the pair towards 131.83(38.2%fib).
European stocks rallied on Wednesday, with banks leading the gains, after the European Central Bank said its rate-setting Governing Council would hold an unscheduled meeting to discuss the recent sell-off in government bond markets.
At (GMT 10:50 ),UK's benchmark FTSE 100 was last trading up at 1.33 percent, Germany's Dax was down by 1.37 percent, France’s CAC was down by 0.90 percent.
Gold prices rose 1% on Wednesday bolstered by a pullback in the U.S. dollar and U.S. Treasury yields, ahead of a potentially aggressive interest rate hike from the Federal Reserve.
Spot gold climbed 0.9% to $1,824.80 per ounce by 1002 GMT while U.S. gold futures rose 0.8% to $1,827.30.
Oil prices fell on Wednesday on concerns about fuel demand and global economic growth before an expected big hike in interest rates by the U.S. Federal Reserve.
Brent crude futures for August were down $1.27, or 1%, at $119.90 a barrel as of 1001 GMT, in volatile trading.U.S. West Texas Intermediate crude for July fell $1.44, or 1.2%, to $117.49 a barrel.