Europe Roundup: Sterling recovers after BoE rate hike, European shares fall, Gold steadies, Oil rises on rebounding Chinese demand, geopolitical risks-September 22nd,2022
America’s Roundup: Dollar dips as U.S. rate hike jitters restrain gains, Wall Street flat, Gold dips , Oil rises 1% on supply concerns, expectations for fuel switching-September 15th,2022
Europe Roundup: Sterling plunges near 35-year low against the dollar, European stocks bounce, Gold dips to near 2-month low, Oil falls over 1% on demand concerns, strong dollar-September 15th,2022
Europe Roundup: Euro gains on ECB rate hike, European shares gains, Gold hits more than one-week high, Oil supported by supply threats -September 9th,2022
America’s Roundup: Dollar falls as investors balance their positions ahead of US inflation data, Wall Street ends higher, Gold gains, Oil rises 4% on supply threats, still set for weekly drop-September 10th,2022
Europe Roundup: Sterling falls to 37-year low against dollar, European stocks fall, Gold dips, Oil steadies but remains on track for weekly decline-September 16th,2022
Europe Roundup: Sterling gains against the dollar, European shares dips, Gold ticks up, Oil prices stabilise on IEA demand outlook-September 14th,2022
America’s Roundup: Dollar retreats on hopes of less aggressive Fed, Gold firms, Oil up nearly 3% as OPEC+ agrees to small oil output cut-September 6th,2022
Europe Roundup: Sterling idles near 37-year low ahead of Fed, BoE meetings, European shares slips in choppy trade,Gold dips, Oil prices up but expected Fed rate hike paints bearish picture-September 20th, 2022
Europe Roundup:Euro jumps on hawkish ECB signals, European shares advances, Gold ticks, Oil prices rise as supply uncertainty mounts-September 12th,2022
America’s Roundup: Dollar inches up vs yen as investors expect Fed will stay aggressive, U.S. stocks slip ,Gold falls, Oil slumps over 3% on demand concerns-September 16th,2022
Europe Roundup: Sterling languishes near 37-year low vs dollar European shares falls, Gold dips, Oil falls more than 2% on demand fears-September 19th,2022
America’s Roundup: U.S. dollar advances as markets brace for hefty Fed rate hike,Wall Street ends choppy session higher, Gold falls, Oil edges up as supply woes outweigh demand and rate hike worries-September 20th,2022
Europe Roundup: Euro slides back towards two-decade lows, European shares slip, Gold gains,Oil prices surge as Putin mobilises more troops-September 21st,2022
America’s Roundup: U.S. dollar soars to two-decade high as Fed flags more large hikes, Wall Street slumps, Gold bounces ,Oil prices slide 1% after U.S. Fed raises interest rates-September 22nd,2022
Europe Roundup: Euro holds above 2-decade low before ECB decision, European shares gain ,Gold struggles for direction, Oil prices fall further as China extends COVID curbs-September 8th,2022
Europe Roundup: Sterling edges higher ahead of Thursday's BoE decision , European shares inch higher, Gold rebounds, Oil prices dip ahead of OPEC+ meeting-August 3rd,2022
•German Jun Exports (MoM) 4.5%, 1.0% forecast,-0.5% previous
•German Jun Trade Balance 6.4B, 0.2B forecast, -1.0B previous
•German Jun Imports (MoM) 0.2%, 1.3% forecast, 2.7% previous
•Swiss Jul CPI (MoM) 0.0%,-0.1% forecast, 0.5% previous
• Italian Jul Services PMI 48.4 ,50.1 forecast, 51.6 previous
•French Jul S&P Global Composite PMI 51.7 ,50.6 forecast, 50.6 previous
•French Jul Services PMI 53.2 ,52.1 forecast,52.1 previous
• German Jul Services PMI 49.7 ,49.2 forecast,49.2 previous
•EU Jul Services PMI 51.2 ,50.6 forecast,50.6 previous
• EU Jul S&P Global Composite PMI 49.9,49.4 forecast, 49.4 previous
•UK Jul Composite PMI 52.1 ,52.8 forecast,52.8 previous
•UK Jul Services PMI 52.6, 53.3 forecast,53.3 previous
• EU Jul Retail Sales (MoM) -1.2% ,0.1% forecast,0.2% previous
Looking Ahead - Economic Data (GMT)
•13:45 US Jul S&P Global Composite PMI 47.5 forecast, 47.5 previous
•13:45 US Jul Services PMI 52.7 forecast, 47.0 previous
•14:00 US ISM Non-Manufacturing PMI 53.5 forecast, 55.3 previous
•14:00 US Jun Factory Orders (MoM) 1.1% forecast, 1.6% previous
•14:00 US Jul ISM Non-Manufacturing Employment 47.4 previous
•14:30 US Cushing Crude Oil Inventories 0.751M previous
• 14:30 US Crude Oil Inventories -0.629M forecast, -4.523M previous
• 14:30 US Crude Oil Imports -1.144M previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro dipped against dollar on Wednesday as loomy Eurozone business activity data added to fears of an economic slowdown . Data on Wednesday showed business activity in the euro zone contracted slightly in July for the first time since early last year as consumers reined in spending amid a cost-of-living crisis. Adding to concerns, a survey showed Germany's services sector saw its six-month expansion come to an end in July as higher prices and growing concerns over gas supplies put the brakes on a post-lockdown rebound. Immediate resistance can be seen at 1.0188(14DMA), an upside break can trigger rise towards 1.0288(38.2%fib).On the downside, immediate support is seen at 1.0188(21DMA), a break below could take the pair towards 1.0095(23.6%fib).
GBP/USD: The British pound nudged higher on Wednesday against a broadly weaker dollar, as investor focus remained on the Bank of England policy meeting on Thursday, at which the central bank is expected to raise rates for the sixth consecutive time. Money markets are currently pricing in a greater than 90% chance of an outsized 50 basis point rate hike at Thursday’s meeting, according to Refinitiv data, as the central bank attempts to cool inflation from a four-decade high of 9.4%.More than 70% of 65 analysts and economists surveyed by Reuters also expect a half-point increase from the bank’s Monetary Policy Committee this week, a poll conducted between July 27 and Aug. 1 found.Immediate resistance can be seen at 1.2196(50%fib), an upside break can trigger rise towards 1.2351(50%fib).On the downside, immediate support is seen at 1.2128(23.6%fib),a break below could take the pair towards 1.2066(14DMA).
USD/CHF: The dollar strengthened against the Swiss franc on Wednesday after Federal Reserve officials signalled they are nowhere near done raising interest rates. A trio of Fed policymakers signalled on Tuesday that there would be no let up in the tightening campaign aimed at taming the highest inflation since the 1980s, even though it will take rates to a level that will more significantly curb economic activity.Two of them, San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans, are widely regarded as doves.Traders now see a chance of about 44% that the Fed will hike by another 75 basis points at its next meeting in September. Immediate resistance can be seen at 0.9605(38.2%fib), an upside break can trigger rise towards 0.9624(14DMA).On the downside, immediate support is seen at 0.9526 (50%fib), a break below could take the pair towards 0.9457 (61.8%fib).
USD/JPY: The dollar strengthened against yen on Wednesday as dollar advanced after hawkish comments from Federal Reserve officials hinted at continuing aggressive interest rate hikes in the near term. A trio of Fed officials from across the policy spectrum signaled they and their colleagues remain "completely united" on getting U.S. interest rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation since the 1980s. St. Louis Federal Reserve President James Bullard said if inflation does not respond to the Fed's interest rate increases by easing as expected, then rates will have to remain higher for longer . Strong resistance can be seen at 133.29(5DMA), an upside break can trigger rise towards 134.30(23.6%fib).On the downside, immediate support is seen at 132.20 (Daily low), a break below could take the pair towards 130.68 (38.2%fib).
European stocks were broadly higher on Wednesday despite concerns about escalating conflict between China and the United States over U.S. House Speaker Nancy Pelosi's trip to Taiwan.
At (GMT 11:04 ),UK's benchmark FTSE 100 was last trading down at 0.06% percent, Germany's Dax was up by 0.11 % percent, France’s CAC was up by 0.16 %percent.
Gold prices rose on Wednesday, drawing support from escalating tensions between Beijing and Washington, although firmer U.S. Treasury yields capped gains in the non-yielding asset and held it below a one-month high hit in the last session.
Spot gold rose 0.1% to $1,761.33 per ounce by 1029 GMT, having on Tuesday risen to its highest since July 5, hitting $1,787.79 before closing down 0.6% on the day to break a four-session winning streak.
Oil prices dipped on Wednesday ahead of a meeting of OPEC+ producers at which producers are expected to keep output steady with spare capacity limited and against the backdrop of fears that a slowdown in global growth will hit fuel demand.
Brent crude futures were down $1.34, or 1.3%, at $99.20 a barrel at 0815 GMT. West Texas Intermediate (WTI) crude futures fell $1.28, or 1.4%, to $93.14 a barrel.steady with spare capacity limited and against the backdrop of fears that a slowdown in global growth will hit fuel demand.
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