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
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
America’s Roundup: U.S. dollar falls as Fed signals slowdown in rate hikes, Wall Street rises, Oil slides over 3% on Russian price cap talks-November 24th ,2022
Europe Roundup: Sterling holds near 3-month high against weaker dollar ,European shares gain, Gold firms, Oil drops as Russian price cap proposal eases concerns about tight supply-November 24th,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: Sterling edges higher against dollar, European shares dip, Gold steadies, Oil prices fall on higher U.S. dollar, economic fears-December 6th,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
America’s Roundup: Dollar rises with bets on hawkish Fed, Wall Street ends lower, Gold slides 1%, Oil falls on worries of U.S. rate hikes, China demand outlook-November 18th,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
Market Roundup: Sterling set for third straight weekly gain,European shares mixed, Gold subdued, Oil prices rise, but Chinese demand worries linger
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
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
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
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 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
America’s Roundup: Dollar up as market eye central bank rate policies, Wall Street slumps, Gold little changed, Oil prices slump to pre-Ukraine crisis levels on economic jitters-December 7th,2022
Europe Roundup: Sterling rises for sixth straight session,European shares rally, Gold rises, Oil prices rise ahead of OPEC+ meeting to discuss supply cuts-October 4th,2022
•Spanish Unemployment Change 17.7K, 62.1K previous
•EU Aug PPI (MoM) 5.0%, 4.9% forecast ,4.0% previous
•EU Aug PPI (YoY) 43.3%, 43.1% forecast , 37.9 previous
Looking Ahead - Economic Data (GMT)
•13:00 US Redbook (YoY) 11.0% previous
•14:00 US Aug Factory orders ex transportation (MoM) -1.1% previous
•14:00 US Aug Durables Excluding Defense (MoM) -0.9% previous
•14:00 US Aug JOLTs Job Openings 10.775M forecast , 11.239M previous
•14:00 US Aug Durables Excluding Transport (MoM) 0.2% previous
•15:00 New Zealand GlobalDairyTrade Price Index 2.0%
Looking Ahead - Events, Other Releases (GMT)
•17:00 US FOMC Member Daly Speaks
•13:00 US FOMC Member Williams Speaks
•13:15 US FOMC Member Mester Speaks
•15:00 EU ECB President Lagarde Speaks
EUR/USD: The euro strengthened on Tuesday as dollar dipped a slowdown in U.S. manufacturing activity raised hopes that the Fed might be less aggressive going forward. U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in September as new orders contracted amid aggressive interest rate increases from the Federal Reserve to cool demand and tame inflation.The Institute for Supply Management (ISM) survey on Monday also showed a measure of manufacturing employment contracted last month for the fourth time this year. A gauge of inflation at the factory gate decelerated for a sixth straight month. The euro was last up 0.67% at $0.9891, a moderate recovery from its 20-year low of $0.9528 on Sept. 26.Immediate resistance can be seen at 0.9913(38.2%fib), an upside break can trigger rise towards 1.1036(50%fib).On the downside, immediate support is seen at 0.9808 (5DMA), a break below could take the pair towards 0.9771(23.6%fib).
GBP/USD: The pound rose for the sixth consecutive session on Tuesday as investors welcomed the British government’s U-turn on some tax cuts and the U.S. dollar slipped . The pound had already rebounded from its record low after the Bank of England (BoE) intervened in the bond market last week following a dramatic plunge in long-dated gilts. It has now regained all the ground it lost in the wake of Kwarteng’s so-called mini budget.Sterling was last up 0.1% to $1.1331, after touching a session high of $1.1428. The euro was up 0.28% against the pound at 87.03 pence.Sterling dropped to a record low of $1.0327 on Sep. 26 after new Finance Minister Kwasi Kwarteng unveiled plans to slash taxes, particularly for the rich, and ramp up borrowing. Immediate resistance can be seen at 1.1453(50%fib), an upside break can trigger rise towards 1.1665 (61.8%fib).On the downside, immediate support is seen at 1.1230 (38.2%fib), a break below could take the pair towards 1.1177(5DMA).
USD/CHF: The dollar declined against the Swiss franc on Tuesday as investors expected the Federal Reserve to tone down its pace of monetary tightening after slowdown in U.S. manufacturing activity. Data showed manufacturing activity increased at its slowest pace in nearly 2-1/2 years in September as new orders contracted, likely as rising interest rates to tame inflation cooled demand for goods. The Institute for Supply Management said its manufacturing PMI dropped to 50.9 this month, missing estimates but still above 50, indicating growth.Focus now shifts to U.S. non-farm payrolls data due on Friday that could offer more clarity on Fed policy tightening. Immediate resistance can be seen at 0.9964 (23.6% fib), an upside break can trigger rise towards 0.9972(Higher BB).On the downside, immediate support is seen at 0.9855 (38.2% fib), a break below could take the pair towards 0.9933 (5DMA).
USD/JPY: The dollar was little changed against the Japanese yen on Tuesday after briefly popping above that level on Monday for the first time since Japanese authorities intervened to support their currency on Sept. 22.Japanese finance minister Shunichi Suzuki repeated on Monday that authorities stand ready for decisive" steps in the foreign exchange market if sharp and one-sided yen moves persisted. Investors are now directing their focus towards U.S. non-farm payrolls data due later this week and key inflationdata next week .Strong resistance can be seen at 144.91 (23.6%fib), an upside break can trigger rise towards 145.40(Higher BB). On the downside, immediate support is seen at 144.19 (9DMA), a break below could take the pair towards 143.55(38.2%fib).
European shares rose sharply on Tuesday in a broad-based rally, led by chipmakers, travel and leisure companies, and some strong corporate updates, with investors eyeing producer price data due later in the day., which could indicate the trajectory of rate hikes by the nation's central bank. .
At (GMT 12:00 ),UK's benchmark FTSE 100 was last trading up at 2.03 percent, Germany's Dax was up by 2.85 percent, France’s CAC finished was up by 3.37percent.
Gold extended gains on Tuesday to firm above the key $1,700 per ounce level on a retreat in the dollar and U.S. Treasury yields as investors expected the Federal Reserve to tone down its pace of monetary tightening.
Spot gold was up 0.3% at $1,703.79 per ounce as of 1149 GMT, having touched its highest since Sept. 13 at $1,710.49 earlier in the session.
Oil prices rose on Tuesday on expectations that OPEC+ may agree to a large cut in crude output in its meeting this week, while strong demand and upcoming sanctions on Russian oil also lent some support to prices.
Brent crude was up 79 cents, or 0.9%, to $89.65 per barrel by 1054 GMT after gaining more than 4% the previous day.
U.S. crude futures rose 60 cents, or 0.7%, to $84.23 a barrel, having gained more than 5% the previous day.