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: 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
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
Europe Roundup: Sterling gains, shrugs off factory data ahead of BoE, European shares rise, Gold extends gains, Oil drops as weak Chinese factory data heightens demand concerns-August 1st,2022
Europe Roundup: Euro gains against dollar ahead of a U.S. Federal Reserve meeting, European shares gains, Gold steadies, Oil rises in volatile trade-July 25th, 2022
Europe Roundup: Sterling dips as economic outlook darkens rate view, European shares mixed in cautious trade,Gold steadies, Oil rises for a second day on supply tightness concerns-July 26th,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: 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 remains under pressure as traders reassess rate hike bets,Wall Street ends mixed, Gold inches lower ,Oil settles up as IEA hikes 2022 demand growth forecast-August 12th,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: 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: 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
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
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
America’s Roundup: Dollar edges higher as traders await U.S. inflation report, Wall ends lower, Gold ticks up, Oil settles lower as halted Russian pipeline flows appear temporary, demand fears rise-August 10th,2022
America’s Roundup: Dollar eases as investors await inflation data for Fed clues, US stocks flat, Gold gains, Oil up nearly 2%, off multi-months low-August 9th,2022
Europe Roundup: Sterling dips on Brexit risks and economic woes, European shares rise,Gold firms, Oil extends gains as major producers flag capacity limits-June 28th,2022
• German Jul GfK German Consumer Climate -27.4, -27.6 forecast,-26.0 previous
•Sweden May Retail Sales (YoY) -2.3%, 2.4% previous
• French Jun Consumer Confidence 82, 84 forecast, 86 previous
• Italian Apr Industrial Sales (YoY) 22.00% forecast, 21.40% previous
• Italian Apr Industrial Sales (MoM) 2.70% forecast, 2.40% previous
• Irish May Retail Sales (MoM) 0.0% forecast, 3.8% previous
Looking Ahead - Economic Data (GMT)
• 12:30 US May Goods Trade Balance -106.70B previous
•12:30 US May Retail Inventories Ex Auto 1.7% previous
• 12:30 US Wholesale Inventories (MoM) 2.1% forecast, 2.2% previous
• 12:55 US Redbook (YoY) 12.8% previous
• 13:00 US Apr S&P/CS HPI Composite - 20 n.s.a. (YoY) 21.0% forecast, 21.2% previous
• 13:00 US Apr S&P/CS HPI Composite - 20 n.s.a. (MoM) 3.1% previous
• 13:00 US S&P/CS HPI Composite - 20 s.a. (MoM) 2.0% forecast, 2.4% previous
• 14:00 US CB Jun Consumer Confidence 100.4 forecast, 106.4 previous
• 14:00 US Jun Richmond Manufacturing Shipments -14 previous
•14:00 US Jun Texas Services Sector Outlook 1.5 previous
•14:00 US Jun Dallas Fed Services Revenues 6.3 previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro held below $1.06 as European Central Bank (ECB) President Christine Lagarde offered no fresh insight on the central bank's policy outlook. The ECB is widely expected to follow its global peers by raising interest rates in July to check soaring inflation though economists are divided on the magnitude of the rate hike to protect a struggling economic recovery due to high oil prices. The euro held below $1.06 after the ECB's Lagarde said the central bank would move gradually but with the option to act decisively on any deterioration in medium-term inflation. Immediate resistance can be seen at 1.0606(38.2%fib),an upside break can trigger rise towards 1.0693(50%fib).On the downside, immediate support is seen at 1.0546(5DMA), a break below could take the pair towards 1.0476(23.6%fib).
GBP/USD: Sterling dipped against dollar on Tuesday amid flaring Brexit-related risks and a murky economic backdrop. Monday saw British Prime Minister Boris Johnson pressing on with plans to pass legislation through parliament this year to scrap some of the rules on post-Brexit trade with Northern Ireland. Attention instead remains on the UK economic backdrop, which saw inflation hit a 40-year record of 9.1% last month, the highest level of the G7 countries. Traders will be listening closely to the Bank of England governor Andrew Bailey who is due to speak Wednesday at the European Central Bank Forum on Central Banking 2022. Immediate resistance can be seen at 1.2257(5DMA),an upside break can trigger rise towards 1.2336(38.2%fib).On the downside, immediate support is seen at 1.2178(23.6%fib), a break below could take the pair towards 1.2107(June 13th low).
USD/CHF: The dollar edged higher from recent low against the Swiss franc on Tuesday as investors awaited a speech from central bank chief Christine Lagarde, while worries about a recession kept the U.S. slightly dollar firm. The European Central Bank's Forum on Central Banking in Sintra continued on Tuesday with ECB President Christine Lagarde affirming plans to begin hiking interest rates from next month.Lagarde said the ECB will move gradually when it begins raising rates but with the option to act decisively on any deterioration in medium-term inflation, especially if there are signs of a de-anchoring of inflation expectations. Immediate resistance can be seen at 0.9592(5DMA), an upside break can trigger rise towards 0.9677 (38.2%fib).On the downside, immediate support is seen at 0.9539(23.6%fib), a break below could take the pair towards 0.9422(Lower BB).
USD/JPY: The dollar steadied against the Japanese yen on Tuesday as investors remained focused on inflation risks and monetary tightening. The dollar held modest overnight gains on other currencies and traded at 135.37 yen .The U.S. dollar index struck a two-decade high of 105.79 this month and was last steady at 103.93. German inflation figures are due on Wednesday, French data on Thursday and euro zone numbers on Friday.At (GMT 12:16),greenback was trading higher 0.45 % versus the yen to 136.06. Strong resistance can be seen at 136.19 (23.6%fib), an upside break can trigger rise towards 137.00(Psychological level).On the downside, immediate support is seen at 134.90(14DMA), a break below could take the pair towards 132.92(38.2%fib).
European shares rose on Tuesday, led by commodity-linked stocks and automakers after China relaxed its COVID-19 quarantine mandate, with investors eyeing the European Central Bank's (ECB) annual forum for clues on monetary policies.
At (GMT 12:10 ),UK's benchmark FTSE 100 was last trading up at 1.39 percent, Germany's Dax was up by 0.94 percent, France’s CAC was last up by 1.36 percent.
Gold edged up on Tuesday but gains were capped by higher U.S. Treasury yields as investors focus on the ECB central bankers’ forum in Portugal.
Spot gold rose 0.2% to $1,826.09 per ounce by 0935 GMT. U.S. gold futures firmed 0.1% to $1,827.30.
Oil costs rallied for a 3rd day on Tuesday as major producers Kingdom of Saudi Arabia and United Arab Emirates looked unlikely to be able to boost output considerably and political unrest in African country and Ecuador added to supply concerns.
U.S. West Texas Intermediate (WTI) crude futures rose $1.65, or 1.5%, to $111.22 a barrel by 0927 GMT, extending a 1.8% gain in the previous session.
Brent crude futures climbed $1.83, or 1.5%, to $116.92, adding to the previous session's 1.7% rise.