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 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 extends losses as Fed minutes signal slower rate hikes,Gold gains, Oil muted as price cap proposal eases supply concerns-November 25th,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
America’s Roundup: Dollar gains on hawkish Fed tilt, Wall Street ends higher, Gold falls, Oil slides 2 percent-November 19th,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: 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
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
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 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
Market Roundup: Dollar retreats , traders eye Fed policy minutes, Wall Street close higher,Gold gains, Oil rises 1% as OPEC+ focus on supply cuts outweighs recession concerns
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
America’s Roundup: Dollar dips as geopolitical tensions rattle markets , Wall Street gains, Gold near three-month high, Oil prices settle higher on Druzhba oil pipeline disruption-November 16th,2022
America’s Roundup: Dollar steady as retail sales tip Fed outlook,Wall Street ends down,Gold hovers near multi-month peak, Oil falls-November 17th,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 tumbles after Britain's new economic plan, European shares extend falls, Gold hits more than 2-year low, Oil prices down 3% with recession fears in focus-September 23rd,2022
• French Sep Manufacturing PMI 47.8, 49.8 forecast, 50.6 previous
• French Sep Services PMI 53.0,50.5 forecast, 51.2 previous
• German Sep Services PMI 45.4, 47.2 forecast, 47.7 previous
• German Sep Composite PMI 45.9, 46.0 forecast, 46.9 previous
•German Sep Manufacturing PMI 48.3, 48.3 forecast, 49.1 previous
•German Sep Services PMI 48.9 , 49.0 forecast, 49.8 previous
•German Sep Manufacturing PMI 48.5, 48.7 forecast, 49.6 previous
•EU Sep S&P Global Composite PMI 48.2, 48.2 forecast ,48.9 previous
•UK Services PMI 49.2,50.0 forecast, 50.9 previous
•UK Composite PMI 48.4, 49.0 forecast, 49.6 previous
•UK Sep CBI Distributive Trades Survey -20, 10 forecast ,37 previous
•Canada Jul Core Retail Sales (MoM) -3.1%,-1.2% forecast, 0.8% previous
•Canada Jul Retail Sales (MoM)-2.5%, -2.0% forecast, 1.1% previous
Looking Ahead Economic Data
•13:45 Sep S&P Global Composite PMI 44.6 previous
•13:45 Sep Manufacturing PMI 51.1 forecast, 51.5 previous
•13:45 US Services Sep PMI 45.0 forecast, 43.7 previous
•17:00 US U.S. Baker Hughes Total Rig Count 763 previous
Looking Ahead - Economic events and other releases (GMT)
•15:30 Swiss SNB Chairman Thomas Jordan speaks
• 15:30 German Buba President Nagel Speaks
•18:00 US Fed Chair Powell Speaks
EUR/USD: The euro fell for a fourth straight day after data showed the downturn in the German economy has worsened in September, as consumers and businesses face an unprecedented energy crunch and spiralling inflation. The downturn in German business activity deepened in September, a preliminary survey showed on Friday, as higher energy costs hit Europe's largest economy and companies saw a drop in new business.S&P Global's flash composite Purchasing Managers' Index (PMI), which tracks both the manufacturing and services sectors which together account for more than two-thirds of Germany's economy, fell to 45.9 in September from August's final reading of 46.9.. The euro slipped 0.8% to $0.9736, its lowest level since October 2002. Immediate resistance can be seen at 0.9813(38.2%fib), an upside break can trigger rise towards 0.9853(Daily high).On the downside, immediate support is seen at 0.9734(23.6%fib), a break below could take the pair towards 0.9700(Psychological level).
GBP/USD: Sterling declined against dollar on Friday as the new government's economic plan including tax cuts and other business friendly measures did little to ease worries about a potential recession highlighted by weak economic data. Britain's new finance minister, Kwasi Kwarteng, announced an economic agenda designed to thrust Britain out of a cycle of stagnation and into a new era of higher economic growth but with a hefty bill attached. A survey showed the downturn in British businesses steepened this month as they battled soaring costs and faltering demand, hammering home the rising risk of recession. The S&P Global/CIPS flash Composite Purchasing Managers' Index (PMI) fell to 48.4 in September. Immediate resistance can be seen at 1.1212(38.2%fib), an upside break can trigger rise towards 1.1284 (5DMA).On the downside, immediate support is seen at 1.1022(23.6%fib),a break below could take the pair towards 1.1000(Psychological level).
USD/CHF: The dollar strengthened against the Swiss franc on Friday as dollar was buoyed by a hawkish U.S. Federal Reserve. The Fed's projections for aggressive hikes have pushed U.S. Treasury yields higher and triggered another round of dollar buying, driving the greenback to a near two-decade high. The dollar index, which measures the U.S. currency against a basket of currency including euro, sterling and yen, surged to 112.330, its highest since May 2002 and topping two-decade highs hit earlier this week. It was last up 0.8% at 112.10 and set for its best week in one month. Immediate resistance can be seen at 0.9836 (23.6% fib), an upside break can trigger rise towards 0.9865(Higher BB).On the downside, immediate support is seen at 0.9748 (38.2% fib), a break below could take the pair towards 0.9700(5DMA).
USD/JPY: The dollar strengthened against yen on Friday as investors digested the prospect of a far more aggressive rise in U.S. interest rates, while currency markets remained volatile after Japan's intervention to prop up the yen. The yen was 0.6% lower at 142.88 per dollar, but still set for its first weekly gain in more than a month after Japanese authorities intervened in markets to support the currency for the first time since 1998.The yen rallied more than 1% on Thursday on news that Japan had bought yen to defend the battered currency. Trading was thin on Friday with Japanese markets closed for a public holiday. Strong resistance can be seen at 143.21(5DMA), an upside break can trigger rise towards 144.02(23.6%fib).On the downside, immediate support is seen at 141.67(38.2%fib), a break below could take the pair towards 140.54(Sep 22nd low).
European stocks extended falls on Friday, dragged down by Credit Suisse and as an array of data pointing to an economic downturn in the region added to worries over a hawkish Federal Reserve.
At (GMT 12:30 ),UK's benchmark FTSE 100 was last trading down at 1.89 percent, Germany's Dax was down by 0.24 percent, France’s CAC was down by 1.90 percent.
Gold prices dropped more than 1% to their lowest since April 2020 on Friday as a cocktail of factors from a robust dollar and elevated U.S. bond yields to worries around more U.S. interest rate hikes diminished bullion’s appeal.
Spot gold was down 1.7% at $1,642.79 per ounce by 1058 GMT and was heading for its second straight weekly decline, down 1.8%. U.S. gold futures fell 0.5% to $1,672.10.
Oil prices fell on Friday as demand fears were stoked by rising interest rates and a stronger dollar, though losses were capped by Moscow's mobilisation campaign in its war with Ukraine and apparent deadlock in talks on reviving the Iran nuclear deal.
Brent crude futures fell $2.81, or 3.11%, to $87.65 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude futures were also down, retreating by $2.93, or 3.51%, to $80.56.