Europe Roundup: Euro dips as dollar stands tall ,European stocks slips, Gold ticks up, Oil prices rise as tight supply counters China COVID, recession worries-June 14th,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
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: Dollar dips after Fed statement, Wall Street closes higher, Gold rallies, Oil prices fall over 2% as Fed hikes interest rates-June 16th,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
America’s Roundup: Dollar gains ahead of inflation data, euro falls after ECB, Wall Street ends lower, Gold falls,Oil slips on China lockdowns, but bullish trends intact-June 10th,2022
America’s Roundup: Dollar index jumps to two-decade high as traders await Fed rate move , Wall Street slips, Gold eases, Oil prices settle down on fears of Fed and oil profit tax-June 15th,2022
America’s Roundup: Dollar gains on hawkish comments from Powell, Wall Street ends mixed, Gold little changed, Oil slides 2% on rising U.S. fuel stocks and output-June 30th,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
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: Dollar gains on hot U.S. inflation data, Wall Street ends down sharply, Gold rebounds, Oil falls as U.S. inflation data surges, China imposes lockdowns-June 11th,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
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
America’s Roundup: Dollar pulls back as markets reassess Fed interest rate path, Wall Street ends higher, Gold edges higher, Oil settles up but posts a weekly decline on recession worries-June 25th,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
America’s Roundup: Dollar slips as recession risk keeps investors cautious, Wall Street ends higher, Gold falls, Oil ticks higher on strong demand, tight supply-June 22nd,2022
Europe Roundup: Pound falls as UK inflation hits 40 year high, European shares inch lower , Gold gains, Oil prices rise on China demand recovery expectations, supply concerns-May 18th,2022
•UK Apr Core PPI Output (YoY) 13.0%, 12.0% previous
•UK Apr PPI Input (YoY) 18.6%, 19.0% forecast, 19.2% previous
•UK Apr PPI Input (MoM) 1.1%,1.1% forecast,5.2% previous
•German Apr Car Registration (MoM) -25.3%,20.4% previous
•German Apr Car Registration (YoY) -21.5%, -17.5% previous
•French Car Apr Registration (MoM) -26.1% ,27.5% previous
•UK Car Apr Registration (MoM) -51.1%, 312.7% previous
•UK Apr PPI Output (MoM) 2.3%,1.0% forecast,2.0% previous
•UK Apr CPI (MoM) 2.5%, 2.6% forecast, 1.1% previous
•UK Apr CPI (YoY) 9.0%, 9.1% forecast, 7.0% previous
•EU Apr CPI ex Tobacco (MoM) 0.6%,2.5% previous
•EU Apr Core CPI (YoY) 3.5%,3.5% forecast, 3.5% previous
•EU Apr CPI ex Tobacco (YoY) 7.6%,7.6% previous
•EU Apr CPI (YoY) 7.4% ,7.5% forecast, 7.5% previous
•EU Apr CPI (MoM) 0.6%, 0.6% forecast,2.4% previous
Looking Ahead - Economic Data (GMT)
•12:30 Canada Apr Core CPI (MoM) 0.4% forecast, 1.0% previous
•12:30 Canada Apr Core CPI (YoY) 5.4% forecast, 5.5% previous
•12:30 US Apr Housing Starts (MoM) 0.3% previous
•12:30 US Apr Housing Starts 1.765M forecast, 1.793M previous
•12:30 US Apr Building Permits (MoM) 0.3% previous
•12:30 US Apr Building Permits 1.812M forecast, 1.870M previous
•12:30 Canada Apr CPI (MoM) 0.5% forecast,1.4% previous
•14:00 US Crude Oil Inventories 1.383M forecast,8.487M previous
•14:30 US Cushing Crude Oil Inventories -0.587M previous
•14:30 US Gasoline Inventories -1.333M previous
Looking Ahead - Economic events and other releases (GMT)
• 15:00 ECB McCaul Speaks
• 15:10 German Buba Beermann Speaks
• 16:00 German Buba Beermann Speaks
EUR/USD: The euro reversed an earlier rise to a one-week high on Wednesday, a day after European Central Bank policymaker Klaas Knot said a 50 basis point rate increase in July was possible if inflation broadens. Meanwhile, risk appetite faded as nagging doubts about inflation and the drag from rate rises overshadowed bits and pieces of good news about the global growth outlook. On Wednesday, more ECB policymakers were banging the drum for interest rate hikes in the coming months. Money markets now expect as much as 108 bps of rate hikes through the rest of the year. The single currency was last 0.3% lower at $1.05175. Immediate resistance can be seen at 1.0574(21DMA), an upside break can trigger rise towards 1.0617 (38.2% fib).On the downside, immediate support is seen at 1.0495 (23.6% fib), a break below could take the pair towards 1.0452 (5DMA).
GBP/USD: The pound fell against the dollar on Wednesday after data showed British inflation rising to 9%, the highest level in 40 years. The drop reverses most of the gains made on Tuesday when the pound touched its highest level since May 5.Strong labour market data had boosted expectations that the Bank of England would have to further increase interest rates, but the latest inflation numbers are fuelling fears that the threat of recession may temper how far the central bank can go. Consumer price inflation hit 9% in April, making Britain’s inflation rate the highest of Europe’s five biggest economies and almost certainly the Group of Seven countries. At 0846 GMT, sterling was down 0.9% against the U.S. dollar at $1.23820. Immediate resistance can be seen at 1.2514 (38.2%fib),an upside break can trigger rise towards 1.2605 (50%fib).On the downside, immediate support is seen at 1.2378 (23.6%fib), a break below could take the pair towards 1.2333 (5DMA).
USD/CHF: The U.S. dollar edged higher on Wednesday, a day after posting its biggest single-day drop in more than two months after U.S. Federal Reserve chief Jerome Powell struck a more hawkish tone as the central bank battles to rein in surging inflation.Powell pledged that the U.S. central bank would ratchet up interest rates as high as needed, including taking rates above neutral, to kill a surge in inflation that he said threatened the foundation of the economy. At 1055 GMT, the U.S. dollar index was up 0.3% at 103.57, after earlier touching a two-week low following Tuesday's 0.9% drop. It hit a two-decade high above 105 last week. Immediate resistance can be seen at 0.9996 (23.6%fib), an upside break can trigger rise towards 1.1056 (16th May high).On the downside, immediate support is seen at 0.9901 (14DMA), a break below could take the pair towards 0.9853 (38.2%fib).
USD/JPY: The dollar edged lower against the Japanese yen on Wednesday as concerns about the economic growth outlook and rising inflation knocked sentiment. Positive data had helped the short-term mood, with U.S. retail sales meeting forecasts for a solid increase in April and industrial production beating expectations. Data on Wednesday showed Japan’s economy shrank less than expected in the first quarter. However, any good news was offset by the reminder from Federal Reserve Chair Jerome Powell that controlling inflation would demand rate rises and possibly some pain. It is getting closer to its high this year of 131.34. Strong resistance can be seen at 129.72 (14 DMA), an upside break can trigger rise towards 130.00 (Psychological level).On the downside, immediate support is seen at 128.97 (38.2%fib), a break below could take the pair towards 127.34(50%fib).
European shares slipped on Wednesday led by technology stocks, as worries about inflation and monetary policy tightening dampened optimism around China's economic recovery.
At (GMT 11:43 ),UK's benchmark FTSE 100 was last trading down at 0.26 percent, Germany's Dax was down by 0.25 percent, France’s CAC finished was down by 0.34 percent.
Oil prices rose on Wednesday on expectations that easing COVID-19 restrictions in China will boost demand and as supply concerns grew.
Brent crude was up $1.24 cents, or 1.1%, at $113.17 a barrel at 0921 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $1.69 cents, or 1.5%, to $114.09 a barrel.
Gold prices edged up on Wednesday as worries about inflation kept investors on tenterhooks, although U.S. Federal Reserve Chair Jerome Powell’s comments to shore up rate increases have kept non-yielding bullion’s gains in check.
Spot gold was up 0.2% at $1,818.39 per ounce by 1014 GMT, while U.S. gold futures eased 0.1% to $1,816.60.