Europe Roundup: Sterling dips as risk sentiment sours, European stocks hit 2-month lows, Gold eases,Oil slips to $78-October 1st,2021
America’s Roundup: Dollar hits one-year high as U.S. yields rise, Wall Street closes lower ,Gold gains, Oil steadies as energy crisis increases volatility-October 13th,2021
Europe Roundup: Euro dips on dollar advance as traders wait for U.S. jobs data, European shares gains, Gold dips ,Oil holds near 3-year highs after OPEC+ keep tight control of taps-October 5th,2021
America’s Roundup: Dollar dips in choppy trading, Wall Street rises, Gold rises to one-month high, Oil prices rise, as Saudis dismiss supply concerns as demand grows-October 15th,2021
America’s Roundup: Dollar firms ahead of U.S. jobs data, Wall Street ends sharply higher ,Gold edges down, Oil hits multi-year highs as OPEC+ sticks to output plan-October 6th ,2021
Europe Roundup: Sterling holds above $1.36 after UK GDP data, European stocks gain, Gold gains, Oil falls on concerns of faltering economic growth to hit demand-October 13th, 2021
Europe Roundup: Sterling hits four-week high vs dollar, European stocks inch up, Gold gains, Oil prices rise on China energy demand concerns-October 19th,2021
Europe Roundup: Euro falls as stronger U.S. bond yields, dollar weighs, European stocks fall, Gold dips, Oil prices climb as COVID recovery, power generators stoke demand-October 18th, 2021
America’s Roundup: U.S. dollar slides for 2nd day, Wall Street rises, Gold firms, Oil settles near 3-year high ahead of OPEC+ meeting-October 2nd ,2021
Europe Roundup: Sterling dips after UK inflation reading, European shares little changed, Gold gains, Oil remains near multi-year highs as energy crunch persists-October 20th,2021
Europe Roundup: Sterling falls against dollar, European stocks skid, Gold eases, Oil hits multi-year high on OPEC+ restraint amid global energy crunch-October 6th,2021
America’s Roundup: Dollar eases from one-year high after US inflation data, Wall Street ends higher, Gold jumps 2% ,Oil eases on profit taking, demand jitters; stays near highest in years-October 14th,2021
Europe Roundup: Sterling unmoved by strong Q2 GDP growth, as inflation fears bite, European shares rebound, Gold climbs, Oil falls after U.S. inventories swell-September 30th,2021
America’s Roundup: Dollar gains as energy price surge drives inflation worries , Wall Street rises, Gold firms ,Oil retreats from multi-year highs after U.S. stock build-October 7th,2021
America’s Roundup, Dollar slips against key rivals, Wall Street ends lower,Gold hits over 1-week peak, Oil settles above $81 with OPEC+ sticking to output increase-October 5th,2021
America’s Roundup: Dollar vaults to nearly 3-year high vs yen, Wall Street ends lower, Gold slips, Oil settles up 1.5%; hits multi-year highs on surging demand-October 12th,2021
Europe Roundup: World shares set for fourth month of gains, oil and gold prices flat ahead of Trump's policy speech, Sterling near 2-week low - Tuesday, February 28th, 2017
Economic Data Ahead
Key Events Ahead
DXY: U.S. Dollar index has once again declined after jumping till 101.27.It is currently trading around 100.96. On the higher side, major resistance is around 101.73 and any break above will take the index till 102.06 (61.8% retracement of 103.82 and 99.23)/102.95 (Jan 1st 2017 high). The major support is around 100.60 (21- day MA) and any break below targets 100/99.25 (23.6% fibo).
EUR/USD: EUR/USD trades largely muted at around 1.0596 levels at the time of writing. The pair has been trading between 1.04936 and 1.06306 for the past three trading sessions. The potential AB=CD pattern may be completed at 1.05540 level. On the lower side, major support is around 1.05200 and any break below will drag the pair down till 1.04935 (Feb 22nd 2017 low)/1.04500. On the higher side, 1.06035 will be acting as minor resistance and any break above targets 1.06305/1.06790 level. Short term bearish invalidation only above 1.06800.
GBP/USD: Cable trades range bound, holds above 100-DMA at 1.2404. GBP/USD is facing strong support around 1.23800 and any break below confirms major trend reversal. On the lower side major weakness can be seen only below 1.2380 (Feb 15th low) and any violation below will drag the pair down till 1.234500 (50% retracement of 1.19860 and 1.27060). Any break below 1.23450 confirms further weakness, a decline till 1.2260/1.2200 likely. The minor trend reversal can be happen only above that 1.2580 level and any break above will take the pair till 1.2705 (Feb 2nd 2017 high)/1.27750 (Dec 6th 2016 high).The major resistance is around 1.2530 level.
USD/CHF: USD/CHF witnessed a sharp reversal erasing all of its gains recorded in the previous two trading sessions. The pair has once again declining after jumping till 1.01017. Any break above minor top formed at 1.01600 confirms minor bullishness, a jump till 1.02480 is likely. It is currently trading around 1.00494. Intraday outlook remains slightly bearish as long as resistance 1.010 (61.8% retracement of 1.01408 and 1.00319) holds. On the lower side, major support is around 1.0028 (trend line joining 0.98696 and 0.99646) and any break below targets 1.0012 (100- day EMA)/ 0.9960 (Feb 17th low)/0.9927 (Feb 8th low).
USD/JPY: Trump-led recovery in USD/JPY falters, the pair rejected shy of 20-DMA. Technicals are biased lower, we see scope for test of 100-DMA at 111.75, bearish reversal only on break above 20-DMA at 112.96. On hourly charts we see bearish MACD line crossover on signal line. Upside capped by 1H 100-SMA at 112.72. Focus remains on US prelim GDP figures and Trump’s interview ahead of his congressional address due later on Tuesday.
AUD/USD: Aussie dented on a sharp slowdown in the private sector credit growth. But upbeat current account deficit lent support. AUD/USD stalled declines and held strong 20-DMA support at 0.7667 to edge higher. Trend remains higher, but bearish RSI divergence raises scope for downside in the pair. We see reversal in trend only on break below 20-DMA at 0.7667. Test of 100-DMA at 0.7512 then likely.
EUR/GBP: Selling pressure around the British Pound intact in wake of renewed fears of another Scottish independence referendum. EUR/GBP extends gains after break above 200-DMA on Monday's trade. Technicals support upside in the pair, RSI is biased higher and Stochs have rolled over from oversold levels. We see weakness only on close below 200-DMA at 0.8479. Developments around the French election will be in focus for fresh impetus on the Euro.
World shares were on track for a fourth straight month of gains on Tuesday, as investors eyed a speech by U.S. President Donald Trump for signals on infrastructure spending and tax cuts. The European equities steadied on Tuesday, with a rally in shares of companies such as GKN and Meggitt following their encouraging results offset by weaker miners. The STOXX Europe 600 was flat in percentage terms by 1028 GMT. The Britain's FTSE 100 was down 0.1 pct, Germany's DAX slid 0.2 pct and France's CAC was trading flat.
In Asia, the Tokyo's Nikkei closed up 0.06 pct at 19,118.99, Seoul shares ended up 0.27 pct. China's CSI300 Index rose 0.2 pct at 3,452.81 points, while Shanghai Composite Index ended up 0.4 pct at 3,241.73 points. HK’s Hang Seng Index was down 0.8 pct at 23,740.73 points, up 1.6 pct for the month.
Global oil prices were flat and continued to trade in a tight range with OPEC's bullish production cuts offset by increasing crude production from the United States. Benchmarks Brent and West Texas Intermediate crude oil were trading several cents on either side of the previous day's close. By 0930 GMT, Brent was 3 cents higher at $55.96 a barrel while the U.S. benchmark was 3 cents lower at 54.02.
Gold prices were also steady after falling from a 3-1/2 month high in the previous session, ahead of Trump's speech later in the day for more clarity on the economic policy. Spot gold rose 0.1 percent at $1,253.93 per ounce at 0734 GMT. U.S. gold futures dropped 0.3 percent to $1,254.50.
U.S.: The U.S. Treasuries traded modestly lower on expectations of an upbeat reading of the gross domestic product during the Q4; also, investors are eyeing President Donald Trump’s speech scheduled for later in the day. The yield on the benchmark 10-year Treasury fell nearly 1 basis point to 2.36 percent, the super-long 30-year bond yield slumped close to 1-1/2 basis points to 2.97 percent and the yield on short-term 2-year note also remained nearly 1-1/2 basis points down at 1.19 percent.
UK: The UK gilts slumped as investors remain cautious ahead of the manufacturing as well as construction PMI, scheduled to be released on Wednesday. The yield on the benchmark 10-year gilts, rose nearly 2-1/2 basis points to 1.17 percent, the super-long 30-year bond yields also jumped over 1-1/2 basis points to 1.78 percent and the yield on the short-term 2-year traded higher by nearly 2 basis points at 0.11 percent.
German: The German government bunds remain subdued as investors traded cautiously ahead of the release of unemployment and CPI data for the month of February, scheduled for Wednesday. The yield on the benchmark 10-year bonds, rose nearly 1 basis point to 0.21 percent, the long-term 30-year bond yields also jumped 1-1/2 basis points to 0.98 percent while the yield on short-term 2-year bond moved higher by 1 basis point to -0.91 percent.
JGBs: The Japanese government bonds traded tad lower, following upbeat data on retail sales and housing starts; however, fall in the country’s January industrial production offset losses in bond market. The benchmark 10-year bond yield, rose 1/2 basis point to 0.05 percent, the long-term 20-year bond yields also pushed higher by 1/2 basis point to 0.62 percent and the yield on the short-term 3-year note traded nearly 1/2 basis point up at -0.18 percent.
NZ: The New Zealand government bonds traded slightly higher, following worse-than-expected trade deficit for the month of January. The yield on the benchmark 10-year bond, fell 1 basis point to 3.25 percent at the time of closing, the yield on 7-year note also slipped nearly 1 basis point 2.84 percent and the yield on short-term 2-year note traded 1 basis point lower at 2.19 percent.
AUS: The Australian 10-year government bond yields jumped as investors wait to read the country’s fourth-quarter gross domestic product (GDP), scheduled to be released on March 1. The yield on the benchmark 10-year Treasury note, surged nearly 3 basis points to 2.74 percent, the yield on 15-year note rose nearly 2-1/2 basis points to 3.18 percent and the yield on short-term 2-year also jumped 2 basis points to 1.82 percent.