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 slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,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
America’s Roundup: Dollar falls on lower than expected US inflation data, Wall Street rallies, Gold edges lower, Oil rises on renewed gasoline demand, weak dollar-August 11th,2022
America’s Roundup: Dollar gains after stronger-than-expected payrolls data , Wall Street ends mixed, Gold dips 1%, Oil prices end week on multi-month lows on recession fears, Oil prices end week on multi-month lows on recession fears-August 6th,2022
America’s Roundup: Dollar dips as U.S. growth falls in Q2,Wall Street rises, Gold gains, Oil mixed as U.S. gasoline demand rebounds but recessionary fears loom-July 29th,2022
Europe Roundup: Euro recovers after U.S. jobs report sell-off, European shares bounce ,Gold range-bound, Oil stays near multi-month lows on demand worries-August 8th,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
Europe Roundup:Euro gains on upbeat Eurozone GDP data, European shares rises, Gold gains,Oil prices rise as chances of OPEC+ supply boost dim-July 29th,2022
Europe Roundup: Euro fall on weak German ZEW economic sentiment ,European shares gain, Gold extends losses, Oil extends losses as weak demand outlook persists-August 16th,2022
Europe Roundup: Sterling struggles as inflation outlook worsens sentiment, European shares gains, Gold near two-week low, Oil prices ease as Russia output increases-August 18th,2022
America’s Roundup: Dollar edges down, Wall Street ends mixed , Gold gains, Oil prices hit lowest level since the invasion of Ukraine on recession fears-August 5th,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
America’s Roundup: Dollar steady before retail sales, Fed minutes, Wall Street ends mixed,Gold eases, Oil falls to 6-mth low on economic data, awaits news of Iran nuclear deal-August 17th,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
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 rallies over 1.300 following better-than-expected retail sales, euro off 6-month peak on profit taking, European shares decline amid risk-off sentiment - Thursday, May 18th, 2017
Economic Data Ahead
DXY: The dollar tumbled against the Japanese yen as investors sought safe-haven assets amid increasing political uncertainty in the U.S. The greenback against a basket of currencies traded 0.1 percent up at 97.48, having hit a low of 97.33 in the previous session, it’s lowest since Nov. 9. FxWirePro's Hourly Dollar Strength Index stood at -78.95 (Slightly Bearish) by 1000 GMT.
EUR/USD: The euro declined after rising to a 6-month high earlier in the day as investors booked profits ahead of the ECB meeting minutes due later in the session. Moreover, fresh recovery seen in the U.S. dollar against its major peers undermined the bid tone around the major. The European currency traded 0.3 percent down 1.1130, having touched a high of 1.1171 earlier, its highest since Nov. 9. FxWirePro's Hourly Euro Strength Index stood at -36.24 (Neutral) by 1000 GMT. On the higher side, major resistance is around 1.1180 and any break above targets 1.1200/1.1235. The near support is around 1.1090 (23.6% retracement of 1.08391 and 1.11719) and any break below targets 1.10508/1.1020 (resistance turned into support).
USD/JPY: The dollar slumped to an over 3-week low as revelations about the investigation of Trump's ties to Russia and a combination of recent downbeat U.S. data drove investors seeking safety in Japanese yen. The pair traded 0.4 percent down at 110.37, having touched a low of 110.23 earlier, its lowest since Apr 25. FxWirePro's Hourly Yen Strength Index stood at 184.61 (Highly Bullish) by 1000 GMT. The pair is facing support at 110 and any break below will it down till 108.13. On the higher side, break above 111.97 will take it to next level till 113.40/114.36 likely.
GBP/USD: Sterling rallied above the 1.300 handle for the first time in almost eight months after data showed Britain’s retail sales growth surpassed estimates, easing concerns about the pace of spending by consumers. The economy's retail sales volumes rose 2.3 percent in April, beating forecast of a 1.0 percent rise and reversing a 1.4 percent fall in March. Sterling trades 0.5 percent up at 1.3034, having hit an early high of 1.3047, its strongest since Sept. 29. FxWirePro's Hourly Sterling Strength Index stood at 85.58 (Highly Bullish) by 1000 GMT. On the higher side, the pair has broken major resistance 1.3000 and this confirms bullish continuation and a jump till 1.3050/1.3088 likely. The major support is around 1.2950 and any break below will drag the pair down till 1.2900/1.2830. Against the euro, the pound traded 0.7 percent up at 85.39 pence, retreating from a 1-1/2 month low of 86.14 hit in the prior session.
USD/CHF: The Swiss franc hit a fresh six-month high against the U.S. dollar as recent developments in the U.S. political scenario continued to weigh on market sentiment. The major slumped 0.1 percent to 0.9774, having hit a fresh low of 0.9768 earlier, its weakest since Nov 9. FxWirePro's Hourly Swiss Franc Strength Index stood at 134.20 (Highly Bullish) by 1000 GMT. The break below 0.98120 confirms that jump from 0.95493 comes to an end at 1.03400 and a dips till 0.9617 (100% projection from 1.03420 to 0.9860 from 1.0099) is possible. The near term major support is around 0.9705 (50% retracement of 0.90719 and 1.03436) /0.9640. On the higher side near term resistance is around 0.9860 and any break above will take the pair till 0.9900/0.9960 (200- day MA).
AUD/USD: The Australian dollar declined after rising to a 2-week high earlier on the back of better-than expected Australia’s employment report, which supported the case for a stable interest rate outlook in the near term. The Aussie trades 0.1 percent down at 0.7424, having hit a high of 0.7466 earlier, it’s strongest since May. 3. FxWirePro's Hourly Aussie Strength Index stood at -80.92 (Slightly Bearish) by 1000 GMT. On the lower side, near term support is around 0.7385 (61.8% retracement of 0.71599 and 0.77493) and any close below will drag the pair till 0.7325/0.7300. The near term resistance is around 0.7450 (21 EMA) and any close above targets 0.7520 (89 day EMA).
European shares declined in early trade as growing concerns over political turbulence in the U.S. continued to weigh on market sentiment.
The pan-European STOXX 600 index lost 0.9 percent to 387.60 points, while the FTSEurofirst 300 index declined 0.8 percent to 1,524.85 points.
Britain's FTSE 100 trades 1.3 percent down at 7,406.24 points, while mid-cap FTSE 250 fell 1.0 percent to 19,578.47 points.
Germany's DAX shed 0.9 percent at 12,521.25 points; France's CAC 40 trades 1.1 percent lower at 5,256.46 points.
Crude oil prices slipped over 1 percent as the market remained well supplied with crude despite efforts by OPEC and other exporters to reduce production. International benchmark Brent crude was trading 1.6 percent down at $51.21 per barrel by 1017 GMT, having hit a high of $52.58 on Monday, its strongest since Apr. 21. U.S. West Texas Intermediate fell 1.5 percent to $48.16 a barrel, after rising as high as $49.63 on Monday, its highest since Apr. 28.
Gold prices rallied, hitting a more than 2-week high amid political turmoil in the United States. Spot gold was 0.2 percent up at $1,261.16 per ounce by 1023 GMT after touching its strongest since May 1 at $1,263.03 earlier. U.S. gold futures were nearly flat at $1,258.40 an ounce.
The U.S. Treasuries rallied on expectations of a rise in the country’s initial jobless claims, scheduled to be released later in the day. The yield on the benchmark 10-year Treasury slumped 2 basis points to 2.19 percent, the super-long 30-year bond yields fell nearly 1 basis point to 2.88 percent and the yield on short-term 2-year note also traded 1 basis point lower at 1.24 percent.
The UK gilts rallied as investors largely shrugged off the wider-than-expected rise in the country’s retail sales for the month of April. The yield on the benchmark 10-year gilts slumped 3 basis points to 1.10 percent, the super-long 30-year bond yields plunged 3-1/2 basis points to 1.73 percent while the yield on the short-term 2-year traded 1-1/2 basis points lower at 0.12 percent.
The German bunds jumped as investors look forward to the European Central Bank (ECB) President Mario Draghi’s speech, scheduled to be held later today. The yield on the benchmark 10-year bond slumped nearly 4 basis points to 0.34 percent, the long-term 30-year bond yields plunged 3 basis points to 1.17 percent and the yield on short-term 2-year bond traded 1 basis point lower at -0.69 percent.
The Japanese government bonds trade lower after reading a higher-than-expected gross domestic product (GDP) for the first quarter of this year. The benchmark 10-year bond yield rose 1 basis point to 0.04 percent, while the long-term 30-year bond yields slumped 2 basis points to 0.81percent and the yield on the short-term 2-year note traded 1/2 basis point higher at -0.14 percent.
The Australian bonds jumped, following a drop in the country’s inflation expectations for the month of May. The yield on the benchmark 10-year Treasury note slumped nearly 3-1/2 basis points to 2.50 percent, the yield on 15-year note also plunged almost 3-1/2 basis points to 2.90 percent and the yield on short-term 4-year traded 1/2 basis point lower at 1.99 percent.