America’s Roundup: Dollar gains as Powell doubles down on policy tightening, Wall Street ends higher, Gold slips, Oil prices slump as investors fear Fed rate hikes will hurt demand-June 24th,2022
America’s Roundup: Dollar slips as recession risk keeps investors cautious, Wall Street ends higher, Gold falls, Oil ticks higher on strong demand, tight supply-June 22nd,2022
Europe Roundup: Sterling gains against weaker dollar , European shares rises, Gold firms, Oil surges above $1 but on course for second weekly declined on recession fears-June 24th,2022
America’s Roundup: Dollar dips after Fed statement, Wall Street closes higher, Gold rallies, Oil prices fall over 2% as Fed hikes interest rates-June 16th,2022
America’s Roundup: Dollar gains on hot U.S. inflation data, Wall Street ends down sharply, Gold rebounds, Oil falls as U.S. inflation data surges, China imposes lockdowns-June 11th,2022
America’s Roundup: Dollar pulls back as markets reassess Fed interest rate path, Wall Street ends higher, Gold edges higher, Oil settles up but posts a weekly decline on recession worries-June 25th,2022
Europe Roundup: Sterling retreats as UK inflation hits new 40-year high, European shares fall,Gold extends fall, Oil slumps by around $5-June 22nd,2022
Europe Roundup: Sterling slides ahead of Bank of England rate call, European stocks slip, Gold steadies, Oil prices fall after U.S. rate hike, but tight supply still in focus-June 16th,2022
Europe Roundup: Sterling heads for third week of losses as dollar stands tall, European shares gains, Gold falls, Oil rises on tight supply though interest rate hikes weigh-June 17th,2022
America’s Roundup: U.S. dollar gains from one-week low, Wall Street ends up, Gold falls, Oil slumps 6% to four-week low on recession worries-June 18th,2022
Market Roundup: Sterling rises as BoE's Pill sees further rate rises ahead, European shares gain, Gold dips, Oil rises on market caution over tight supply-June 21st,2022
Europe Roundup: Sterling dips on Brexit risks and economic woes, European shares rise,Gold firms, Oil extends gains as major producers flag capacity limits-June 28th,2022
America’s Roundup: Dollar gains on hawkish comments from Powell, Wall Street ends mixed, Gold little changed, Oil slides 2% on rising U.S. fuel stocks and output-June 30th,2022
Europe Roundup: Sterling set for second weekly decline vs dollar as economic outlook weighs, European stocks falls, Gold dips, Oil prices on track for weekly gain amid high U.S. demand-June 10th,2022
America’s Roundup: Dollar gains ahead of inflation data, euro falls after ECB, Wall Street ends lower, Gold falls,Oil slips on China lockdowns, but bullish trends intact-June 10th,2022
Europe Roundup:Sterling slips on weak GDP data, European shares falls, Gold falls 1%, Oil falls on Beijing's COVID-19 warning, inflation worries-June 13th,2021
Europe Roundup: Sterling strengthens against dollar after strong UK jobs data, European shares gain, Gold gains, Oil rises on EU's Russian oil ban effort, demand hopes-May 17th,2022
•French Unemployment Rate (Q1) 7.3%, 7.4% forecast, 7.4% previous
•UK Claimant Apr Count Change -56.9K, -42.5K forecast, -46.9K previous
•UK Mar Average Earnings ex Bonus 4.2%, 4.1% forecast,4.0% previous
•UK Mar Average Earnings Index +Bonus 7.0%,5.4% forecast, 5.4% previous
•UK Mar Employment Change 3M/3M (MoM) 83K, 5K forecast, 10K previous
•UK Mar Unemployment Rate 3.7%,3.8% forecast,3.8% previous
•Italian Mar Trade Balance EU -0.12B previous
• Italian Employment Change (QoQ) 0.5% previous
•Italian Apr HICP (MoM) 0.6% forecast, 2.4% previous
•Italian Apr CPI (MoM) 0.2% forecast, 1.0% previous
•EU GDP (YoY) (Q1) 5.0% forecast, 5.0% previous
•EU GDP (QoQ) (Q1) 0.2% forecast, 0.2% previous
•US Apr Core Retail Sales (MoM) 0.6%,0.4% forecast, 1.4% previous
•US Apr Retail Control (MoM) 1.0%,0.5% forecast, 0.7% previous
•US Apr Retail Sales (MoM) 0.9%, 0.9% forecast, 0.7% previous
•Canada Mar Foreign Securities Purchases 46.94B,7.44B previous
•US Retail Apr Sales Ex Gas/Autos (MoM) 1.0%, 0.7% previous
•US Redbook (YoY) 12.7%,13.1% previous
•US Industrial Production (YoY) 6.40%,5.47% previous
•US Apr Manufacturing Production (MoM) 0.8%,0.4% forecast, 0.9% previous
•US Apr Capacity Utilization Rate 79.0%,78.6% forecast, 78.3% previous
•US Apr Industrial Production (MoM) 1.1%,0.5% forecast,0.9% previous
Looking Ahead - Economic Data (GMT)
•14:00 US Mar Retail Inventories Ex Auto 2.3% forecast,1.4% previous
•14:00 US Mar Business Inventories (MoM) 1.9% forecast,1.5% previous
•15:00 New Zealand GlobalDairyTrade Price Index -8.5% previous
Looking Ahead - Events, Other Releases (GMT)
•15:35 UK BoE MPC Member Cunliffe Speaks
•17:30 US FOMC Member Bullard Speaks
•13:15 US FOMC Member Harker Speaks
•17:00 ECB President Lagarde Speaks
•18:00 US Fed Chair Powell Speaks
•18:30 US FOMC Member Mester Speaks
EUR/USD: The euro rose higher against dollar on Tuesday as hawkish comment from Dutch central bank chief Klaas Knot helped the euro jump back above $1.05. Knot said that not only was the European Central Bank set to hike rates by 25 basis points in July, the central bank was also ready to consider a bigger rise if inflation proved higher than expected. Following Knot’s comments, the euro swiftly more than doubled its gains to more than 1%, to $1.0542.The currency had already benefited from ECB policymaker Francois Villeroy de Galhau arguing on Monday that a weak euro could threaten price stability in the currency bloc. Immediate resistance can be seen at 1.0537(50% fib), an upside break can trigger rise towards 1.0623 (61.8% fib).On the downside, immediate support is seen at 1.0464 (38.2% fib), a break below could take the pair towards 1.0354 (23.6% fib).
GBP/USD: Sterling strengthened on Tuesday after strong labour market data reinforced expectations that the Bank of England would continue to raise rates to fight inflation. Britain's jobless rate hit a 48-year low in the first three months of 2022 and employers paid bigger bonuses to keep or attract staff, according to data that added to bets by investors on further Bank of England interest rate hikes.Sterling climbed by 1.1% against the U.S. dollar and rose by 0.6% against the euro. Investors priced in a 30% chance that the BoE's Monetary Policy Committee will resort to raising interest rates by half a percentage point in June. Immediate resistance can be seen at 1.2508 (38.2%fib),an upside break can trigger rise towards 1.2620 (50%fib).On the downside, immediate support is seen at 1.2361 (23.6%fib), a break below could take the pair towards 1.2301 (5DMA).
USD/CHF: The dollar declined against the Swiss franc on Tuesday as investors trimmed bets on whether U.S. interest rate rises will drive further dollar gains. The greenback has edged from a two-decade high this week and was a touch softer across the board, while U.S. bond yields have pulled back slightly as traders reckon aggressive near-term hikes will drag on longer-run U.S. growth. The U.S. currency’s breather pushed the dollar index down 0.79% to 103.35, about 1.5% below last week’s two-decade high of 105.010. Immediate resistance can be seen at 0.9991 (5DMA), an upside break can trigger rise towards 1.1023 (23.6%fib).On the downside, immediate support is seen at 0.9922 (Daily low), a break below could take the pair towards 0.9876 (38.2%fib).
USD/JPY: The dollar strengthened against the Japanese yen on Tuesday on optimism about an easing of China's crackdowns on tech and COVID-19, but concerns about rising prices and slowing growth worldwide kept gains in check. Economic growth fears in the world’s two largest economies have re-emerged following weak retail sales and factory production figures in China and disappointing U.S. manufacturing data. The New York Fed’s Empire State manufacturing index published on Monday showed an abrupt fall during May and shipments fell at their fastest pace since the beginning of the pandemic. The dollar rose 0.06% against the yen to 129.24. It is getting closer to its high this year of 131.34. Strong resistance can be seen at 129.80 (10 DMA), an upside break can trigger rise towards 130.17 (23.6%fib).On the downside, immediate support is seen at 128.54 (38.2%fib), a break below could take the pair towards 127.27(50%fib).
European shares opened lower on Monday, with French stocks down almost 1%, as alarmingly weak economic data from China fanned global recession fears.
At (GMT 13:37 ),UK's benchmark FTSE 100 was last trading up at 0.65 percent, Germany's Dax was up by 1.66 percent, France’s CAC finished was up by 1.31 percent.
Gold rose on Tuesday as a retreat in the dollar helped bullion recover slightly from the last session's 3-1/2 month lows, but sentiment remained negative as further U.S. interest rate hikes loom.
Spot gold rose 0.5% to $1,832.30 per ounce by 1218 GMT, but traded in a relatively narrow range of about $16. U.S. gold futures gained 0.9% to $1,830.10.
Oil hit its highest in seven weeks on Tuesday, supported by the European Union's ongoing push for a ban on Russian oil imports that would tighten supply and as investors focused on higher demand from an easing of China's COVID lockdowns.
Brent crude rose as high as $115.69, its highest since March 28, and by 1159 GMT was up $1.26, or 1.1%, to $115.50. U.S. West Texas Intermediate (WTI) crude gained $1.17, or 1%, to $115.37.