America’s Roundup: Dollar rises as China COVID worries spook markets,Wall Street slips, Gold dips, Oil rebounds from early plunge after Saudis deny OPEC+ output report-November 22nd,2022
Europe Roundup: Euro gains against dollar ahead of Powell speech, European shares rise,Gold gains, Oil firm on U.S. crude stocks and China optimism-November 30th,2022
America’s Roundup: Dollar gains broadly as U.S. data sparks rate hike fears ,Wall Street slides, Gold retreats , Oil falls over 3%-December 6th,2022
America’s Roundup: Dollar pullsback on hopes of slower rate hikes, Wall Street ends lower,Gold gains,Oil up on China COVID hopes-November 30th,2022
America’s Roundup: Dollar edges up in range-bound holiday markets, Wall Street ends mixed, Gold steadies, Oil prices fall 2% as Chinese demand worries linger-November 26th,2022
America’s Roundup: Dollar weakens versus euro,Wall Street ends higher, Gold firms, Oil falls on weakening demand, shrugs off Keystone closure-December 9th,2022
Europe Roundup: Sterling edges higher against dollar, European shares dip, Gold steadies, Oil prices fall on higher U.S. dollar, economic fears-December 6th,2022
America’s Roundup: Dollar slides after Powell speech, Wall Street ends sharply higher, Gold rises, Oil settles up $2 on tighter supply-December 1st,2022
Europe Roundup: Sterling dips against dollar, European shares slip, Gold slips to over 1-week low, Oil prices ease to trade near 2-month lows-November 21th,2022
Europe Roundup: Sterling gains after better-than-expected retail sales data , European shares bounce, Gold ticks up, Oil slides on China demand concerns, easing supply worries-November 18th,2022
Market Roundup: Sterling set for third straight weekly gain,European shares mixed, Gold subdued, Oil prices rise, but Chinese demand worries linger
Europe Roundup: Sterling edges up against dollar, European shares fall, Gold hits over one-week high, Oil prices erase 2022 gains as China's protests spark demand worries-November 28th,2022
Europe Roundup: Sterling edges lower as boost from new China COVID rules fades, European shares gains, Gold retreats, Oil prices rise after OPEC+ keeps output steady-December 5th,2022
Europe Roundup: Euro edge up ahead European Central Bank President Christine Lagarde's speech ,European shares fall, Gold subdued, Oil rebounds from 2022 lows on China demand hopes-December 8th,2022
America’s Roundup: Dollar extends losses as Fed minutes signal slower rate hikes,Gold gains, Oil muted as price cap proposal eases supply concerns-November 25th,2022
Europe Roundup: Euro edges higher against dollar, European shares falls, Gold stalls, Oil falls on economic worries, easing supply fears-December 7th,2022
Europe Roundup: Sterling falls as PM Truss defends economic plans, European shares tumble, Gold falls, Oil rises towards $90 as OPEC+ considers output cut-September 29th,2022
•Spanish CPI (YoY) 9.0%, 10.0% forecast, 10.5% previous
•Spanish Sep HICP (YoY) 9.3%, 10.1% forecast, 10.5% previous
•Italian Aug PPI (YoY) 40.1%, 36.9% previous
•EU Sep Selling Price Expectations 50.3, 43.7 previous
•EU Sep Business and Consumer Survey 93.7, 95.0 forecast, 97.6 previous
•EU Sep Business Climate 0.81, 0.83 previous
•EU Sep Consumer Confidence -28.8, -28.8 forecast, -28.8 previous
•German Sep CPI (YoY) 10.0% ,9.4%, 7.9% previous
• German Sep CPI (MoM) 1.9% , 1.3% forecast, 0.3% previous
•German Sep HICP (YoY) 10.9% ,10.0% forecast, 8.8% previous
•US Corporate Profits (QoQ) (Q2) 9.1%,9.1% forecast, -4.9% previous
•Canada GDP (YoY) 4.30%,4.56% previous
•US Continuing Jobless Claims 1,347K,1,388K forecast, 1,379K previous
•US Initial Jobless Claims 193K, 215K forecast, 213K previous
•US Jobless Claims 4-Week Avg 207.00K,216.75K previous
•Canada Jul GDP (MoM) 0.1%,-0.1% forecast, 0.1% previous
•US Core PCE Prices (Q2) 7.3%, 7.1% forecast, 7.1% previous
•US GDP (QoQ) (Q2) -0.6% ,-0.6% forecast, -1.6% previous
•US Real Consumer Spending (Q2) 2.0%, 1.5% previous
Looking Ahead - Economic Data (GMT)
•14:30 US Natural Gas Storage 94B forecast, 103B previous
•15:30 US 4-Week Bill Auction 2.660% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro dipped on Thursday as the U.S. dollar regained its footing after a recent dip. This week, several Fed officials reiterated the U.S. central bank’s commitment to raise interest rates aggressively to battle surging inflation. Atlanta Fed President Raphael Bostic said on Wednesday his baseline outlook is for the U.S. central bank to hike rates by three-quarters of a percentage point at its November policy meeting and by half a percentage point in December. On the data front, German consumer prices rose by 10% year-on-year in September. The euro fell about 0.7% to $0.9665. Immediate resistance can be seen at 0.9749(38.2%fib), an upside break can trigger rise towards 0.9778 (9DMA).On the downside, immediate support is seen at 0.9644(Daily low), a break below could take the pair towards 0.9580(23.6%fib).
GBP/USD: Sterling fell as much as 1% on Thursday after British Prime Minister Liz Truss defended economic plans that have triggered chaos in the country's markets.Truss said big tax cuts were the right path for Britain and refused to consider reversing the so-called "mini budget" laid out last week. Sterling crashed to a record low against the dollar of $1.0327 on Monday after new finance minister Kwasi Kwarteng unveiled plans to slash taxes, particularly for the rich, and jack up borrowing.The mini budget also wreaked havoc in the UK government bond market, forcing the Bank of England to intervene on Wednesday. The pound was last down 0.88% to $1.0791 after hitting a session low of $1.0764. Immediate resistance can be seen at 1.1038(9DMA), an upside break can trigger rise towards 1.1075 (38.2%fib).On the downside, immediate support is seen at 1.0776 (23.6%fib), a break below could take the pair towards 1.0685(Lower BB).
USD/CHF: The dollar strengthened against the Swiss franc on Thursday as the U.S. dollar continued its rise against Swiss franc. The relative strength of the U.S. economy has allowed the Fed to raise rates more aggressively than its peers, pushing the dollar up against the British pound, the euro and Swiss franc, as well as a slew of smaller currencies. This week, several Fed officials reiterated the U.S. central bank’s commitment to raise interest rates aggressively to battle surging inflation.Investors now await the U.S. weekly jobless claims report due at 1230 GMT.Immediate resistance can be seen at 0.9872(23.6%fib), an upside break can trigger rise towards 0.9942 (HIgher BB).On the downside, immediate support is seen at 0.9805 (38.2%fiib), a break below could take the pair towards 0.9752(50%fib).
USD/JPY: The dollar strengthened against the Japanese yen on Thursday as the dollar tightened its hold on the currency markets. Speaking with reporters in London on Wednesday, veteran Federal Reserve policymaker Charles Evans gave no indication that any of the recent drama would blow the U.S. central bank off its rate hike course. Thursday's moves saw the U.S. dollar index , which measures the currency against sterling, the euro and four other peers, rise back towards its recent 20-year high again having had its worst session in 2-1/2 years on Wednesday. Strong resistance can be seen at 144.89 (23.6%fib), an upside break can trigger rise towards 145.66(Higher BB). On the downside, immediate support is seen at 143.98 (5DMA), a break below could take the pair towards 143.48(38.2%fib).
European shares tumbled on Thursday as a host of companies, including Swedish group H&M, warned about the effect of rising inflation and costs on their business.
At (GMT 12:20),UK's benchmark FTSE 100 was last trading downat 1.09 % percent, Germany's Dax was down by 1.50 % percent, France’s CAC was last down by 1.33% percent.
Gold prices fell 1% on Thursday as the dollar resumed its ascent after a brief dip in the previous session, with looming rate hikes still a headwind for the non-yielding bullion.
Spot gold fell 0.8% to $1,646.97 per ounce, as of 0935 GMT, having marked its best day since March on Wednesday when the dollar took a breather.U.S. gold futures was down 1% at $1,653.20.
Oil prices firmed on Thursday, erasing earlier losses, on indications that OPEC+ might cut output, though a stronger dollar and weak economic outlook kept a lid on gains.
Brent crude futures rose 52 cents, or 0.6%, to $89.84 a barrel by 1027 GMT and U.S. crude futures rose by 52 cents, or 0.6%, to $82.67.