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
Market Roundup: Sterling ticks up against dollar,European shares hold near 3-month highs, Gold subdued, Oil prices fall over $1/bbl on Russian oil price cap talks
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: Sterling at fresh 16-week high as dollar takes a beating ,European rise near six-month high , Gold gains, Oil rises ahead of OPEC+ meeting, easing China COVID curbs lend support-December 1st,2022
America’s Roundup: Dollar gains on hawkish Fed tilt, Wall Street ends higher, Gold falls, Oil slides 2 percent-November 19th,2022
America’s Roundup: Dollar drops to near four-month low,Wall Street ends mixed, Gold rises, Oil settles little changed after China eases COVID curbs-December 2nd,2022
America’s Roundup: Dollar gives back gains as U.S. jobs data rattles investors, Wall Street ends mixed,Gold retreats, Oil dips 1.5% ahead of OPEC+ meeting, EU Russian oil ban-December 3rd,2022
Europe Roundup: Sterling holds near five-month peak, European shares slip ,Gold eases, Oil steady ahead of OPEC+ meeting-December 2nd,2022
America’s Roundup: Dollar rebounds on Fed expectations, Wall Street ends down sharply, Gold slips, U.S. crude turns positive, Brent pares losses on OPEC+ cut rumors-November 29th,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 hits highest in almost 3 months ahead of UK budget, European shares flat , Gold hits 3-month high, Oil falls by over $1/bbl on Chinese demand concerns-November 15th,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 climbs as dollar rally wanes ,European shares gain, Gold advances, Oil rises as Saudi comments outweigh recession concerns-November 22nd,2022
Europe Roundup: Sterling ticks up as UK inflation hits 41-year high , European shares fall, Gold firms, Oil prices up after incident involving vessel off Oman coast-November 16th,2022
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: 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 falls to 37-year low against dollar, European stocks fall, Gold dips, Oil steadies but remains on track for weekly decline-September 16th,2022
•UK Aug Retail Sales (YoY) -5.4%, 4.2% forecast, -3.4% previous
•UK Aug Core Retail Sales (MoM) -1.6%, -0.7% forecast, 0.4% previous
•UK Aug Core Retail Sales (YoY) -5.0%, -3.4% forecast, -3.0% previous
•German Jul Car Registration (MoM) -3.3% forecast, 8.4% previous
•German Jul Car Registration (YoY) 3.0% forecast, -18.1% previous
•French Car Jul Registration (MoM) -15.0% forecast, 34.9% previous
•UK Jul Car Registration (YoY) 1.2% forecast, -24.3% previous
•UK Aug Retail Sales (MoM) -1.6%, -0.5% forecast, 0.3% previous
•Italian Jul Trade Balance -0.361B, -1.500B forecast, -2.166B previous
•EU Aug HICP ex Energy and Food (MoM) 0.7%, 0.6% forecast, 0.2% previous
•EU Aug CPI (MoM) 0.6% ,0.5% forecast, 0.1% previous
•EU Aug HICP ex Energy & Food (YoY) 5.5%, 5.5% forecast, 5.5% previous
•EU Aug Core CPI (MoM) 0.5%, 0.5% forecast, 0.5% previous
•EU Aug CPI (YoY) 9.1% , 9.1% forecast, 9.1% previous
•EU Aug Core CPI (YoY) 4.3%, 4.3% forecast, 4.3% previous
•Italian Aug CPI (MoM) 0.8%, 0.8% forecast, 0.8% previous
•Italian Aug CPI Ex Tobacco (MoM) 8.1%, 7.8% previous
•Canada Jul Foreign Securities Purchases 0.01B, -17.54B previous
•Canada Jul Foreign Securities Purchases by Canadians 4.30B, -12.30B previous
•Canada Jul Wholesale Sales (MoM) -0.6%,-0.6% forecast, 0.1% previous
Looking Ahead - Economic Data (GMT)
•14:00 US Sep Michigan Inflation Expectations 4.8% previous
•14:00 US Sep Michigan 5-Year Inflation Expectations 2.90% previous
•14:00 US Sep Michigan Consumer Sentiment 60.0 forecast, 58.2 previous
•14:00 US Sep Michigan Consumer Expectations 59.7 forecast, 58.0 previous
•14:00 US Sep Michigan Current Conditions 60.8 forecast, 58.6 previous
•17:00 U.S. Baker Hughes Oil Rig Count 591 previous
•17:00 U.S. Baker Hughes Total Rig Count 759 previous
Looking Ahead - Events, Other Releases (GMT)
•No data ahead
EUR/USD: The euro dipped against dollar on Friday as after the European Central Bank vice president said an economic slowdown in the euro zone would not be enough to control inflation and the bank will have to keep raising interest rates.Traders will now shift their focus to a slew of monetary policy meetings by the Federal Reserve, the Bank of Japan (BOJ), and the Bank of England next week, with the Fed in centre stage. Recent hawkish remarks from Fed policymakers and an unexpected rise in August U.S. consumer prices cemented bets for a 75-basis-point rate hike by the U.S. central bank at its Sept.20-21 policy meeting. Immediate resistance can be seen at 1.0002(9DMA), an upside break can trigger rise towards 1.0062 (38.2%fib).On the downside, immediate support is seen at 0.9942 (23.6%fib), a break below could take the pair towards 0.9747 (Lower BB).
GBP/USD: Sterling dipped against the dollar on Friday after weaker-than-expected retail sales figures reinforced fears about Britain's economy. The pound fell more than 1% against the dollar to $1.1351, its lowest since 1985, and was last trading at $1.1404.Most major currencies have been struggling against the dollar in recent months, and the greenback was given another leg-up this week after hotter-than-expected U.S. inflation caused markets to price in a further large rate hike from the Federal Reserve next week. Immediate resistance can be seen at 1.1492(38.2%fib), an upside break can trigger rise towards 1.1523 (9 DMA).On the downside, immediate support is seen at 1.1364 (Daily low), a break below could take the pair towards 1.1287 (lower BB).
USD/CHF: The dollar strengthened against the Swiss franc on Friday as traders continued to bet that the U.S. Federal Reserve will be aggressive next week in its battle to curb inflation. Markets are pricing in a 75-basis-point rate hike by the U.S. central bank at its Sept. 20-21 policy meeting after consumer prices unexpectedly rose in August.Data on Thursday showed that U.S. retail sales unexpectedly rose in August as lower gasoline prices supported spending, while U.S. jobless claims fell last week. Immediate resistance can be seen at 0.9655 (9DMA), an upside break can trigger rise towards 0.9715 (23.6%fib).On the downside, immediate support is seen at 0.9606 (38.2%fib), a break below could take the pair towards 0.9521(50%fib).
USD/JPY: The dollar dipped against the Japanese yen on Friday helped slightly by hopes of a potential currency intervention. Japan's threats of currency intervention might slow but not stop the yen from hurtling towards three-decade lows before the year end.The yen has already lost more than 20% of its value this year to reach a 24-year trough at 144.99 per dollar last week , including a more than 7% tumble over the past month alone. The BOJ's next policy update comes on Thursday, when it is mostly expected to press on with its yield curve control policies that pin the short-term rate at -0.1% and the 10-year yield around zero via massive bond-purchases. Strong resistance can be seen at 143.63 (23.6%fib), an upside break can trigger rise towards 144.98 (Sep 14th high).On the downside, immediate support is seen at 142.80 (11 DMA), a break below could take the pair towards 141.51 (38.2%fib).
European stocks fell on Friday as investors braced for a U.S. rate hike next week amid more warning signs pointing to a global economic slowdown.
At (GMT 12:38),UK's benchmark FTSE 100 was last trading down at 0.35 %percent, Germany's Dax was down by 1.75 % percent, France’s CAC finished was down by 1.52% percent.
Gold prices eased for a fourth consecutive session on Friday to their lowest since April 2020, as expectations of a hefty interest rate hike from the U.S. Federal Reserve next week boosted the dollar and Treasury yields.
Spot gold fell 0.2% to $1,661.30 per ounce by 1049 GMT. U.S. gold futures shed 0.4% to $1,670.70.
Oil steadied on Friday after a sharp fall in the previous session, but pricess remained on track for a weekly decline on fears of hefty interest rate increases that are expected to curb global economic growth and demand for fuel.
Brent crude futures were up $1.04, or 1.1%, at $91.88 a barrel by 1214 GMT but were down 1% over the week.
U.S. West Texas Intermediate (WTI) crude futures gained 69 cents, or 0.8%, to $85.79, down 1.2% this week.