America’s Roundup: Dollar heads for second weekly rise, Wall Street closes at record highs, Gold dips, Oil edges up in weekly rebound on forecasts for tight supplies-24th July,2021
America’s Roundup: U.S. dollar inches higher in volatile trading , Wall Street ends higher, Gold edges higher, Oil gains as demand seen outstripping supply-July 23rd,2021
America’s Roundup: Dollar gains on upbeat U.S. retail sales data, Wall Street falls, Gold slips from one-month peak, Oil drops on rising supply concerns, increase in COVID cases-17th,July 2021
Europe Roundup:Euro falls ahead of ECB meeting, European shares fall, Gold prices at near 1-week low, Oil falls $2 after OPEC+ producers agree to raise output-19th July, 2021
America’s Roundup: Dollar little changed as fears of rate hikes subside, Gold inches higher, Oil prices rise as OPEC+ calls off output talks-July 6th,2021
Europe Roundup: Euro softer after ECB pledged record low rates for longer, European shares gain,Gold little changed, Oil slips but set to end week steady on tight supply-July 23rd,2021
America’s Roundup: Dollar edges higher as market awaits clues from U.S. Fed, Wall Street dips, Gold firms, Oil drops sharply after OPEC cancels meeting-July 7th,2021
Europe Roundup: Sterling dips against greenback, heads for worst week in a month, European shares rise, Gold slips, Oil up, but on track for biggest weekly drop in months-July 16th,2021
Europe Roundup: Sterling hits a 5-month low as COVID19 cases rise in the UK, European stocks stabilise, Gold rebounds, Oil rises after slide but COVID-19, supply concerns weigh-July 20th,2021
America’s Roundup: Dollar rises after U.S. inflation data, Wall Street falls, Gold flat, Oil gains nearly 2% as investors size up tight market-14th July,2021
Europe Roundup: Sterling ticks higher after UK sets out reopening plans , European shares slip, Oil soars to multi-year highs after OPEC+ talks collapse-July 6th,2021
Europe Roundup: Euro dips as investors focus shifts to Thursday's ECB meeting, European shares gain, Gold eases, Oil extends gains despite rise in U.S. inventories-21st July, 2021
Europe Roundup: Euro rebounds from 3-1/2 month lows ,European shares falls,Gold hits 1-month peak, Oil prices extend losses on expected supply increase-July 15th,2021
America’s Roundup: Dollar weakens, Wall Street closes at record highs,Gold gains,Oil prices rise over 2% as U.S. inventories decline-10th,July 2021
America’s Roundup: Dollar recovers from earlier fall after US jobless claims data, Wall Street ends mixed, Gold scales 1-month peak, Oil falls as investors look out for more supply-16th July,2021
Europe Roundup: Euro edges higher against greenback ahead of ECB meeting, European stocks gains, Gold eases, Oil prices rise on signs of tightening supplies-22nd July,2021
America’s Roundup: Dollar almost unchanged as attention shifts to upcoming US data, ECB meeting, U.S. stocks end lower, Gold range-bound, Oil steadies amid weak summer kickoff for U.S. fuel demand-June 10th,2021
•Investors await U.S CPI data, ECB meet on Thursday
• 10-year U.S. debt yield at lowest since May
•World stocks hover near record highs
• US Apr Wholesale Trade Sales (MoM) 0.8%, 1.0% forecast, 4.6% previous
• Canada BoC Interest Rate Decision 0.25%,0.25% forecast, 0.25% previous
• US Apr Wholesale Inventories (MoM) 0.8%,0.8% previous
• US Gasoline Inventories 7.046M,0.698M forecast, 1.500M previous
• US Crude Oil Inventories -5.241M,-2.036M forecast, -5.080M previous
• US Cushing Crude Oil Inventories 0.165M,0.784M previous
Looking Ahead - Economic data ahead (GMT)
•23:50 Japan May PPI (MoM) 0.5% forecast, 0.7% previous
•23:50 Japan May PPI (YoY) 4.5% forecast, 3.6% previous
•23:50 Japan Foreign Investments in Japanese Stocks 181.3B previous
•23:50 Japan Foreign Bonds Buying-1,090.0B previous
•06:30 Australia MI Inflation Expectations 3.5% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro edged higher against dollar on Wednesday as investors focused on a European Central Bank meeting and the upcoming U.S. consumer price index report to gauge the current pace of the economic recovery.Both are due Thursday, and investors have adopted a wait-and-see attitude .With the ECB, investors will be watching for any clues of an imminent slowdown to its bond buying program. The euro could be sensitive to changes in the bank's economic forecasts or any signal that the pace of bond buying could be reduced in months ahead. Immediate resistance can be seen at 1.2198 (23.6%fib), an upside break can trigger rise towards 1.2245(Higher BB).On the downside, immediate support is seen at 1.2144 (38.2%fib), a break below could take the pair towards 1.2129(Lower BB).
GBP/USD:The British pound rose slightly against the U.S. dollar on Wednesday as Britain and the European Union failed to agree on solutions to post-Brexit trade problems in the British province of Northern Ireland . The pound had been ignoring a dispute between Britain and the EU over trading arrangements in the British province of Northern Ireland, which remained within the European Union’s single market after Brexit due to its open land border with Ireland.But the currency fell after European Commission Vice President Maros Sefcovic said that the EU is considering advancing its legal challenge to Britain over UK action in Northern Ireland, which could result in a court case by autumn or the eventual imposition of tariffs and quotas. Immediate resistance can be seen at 1.4129(38.2%fib), an upside break can trigger rise towards 1.4210(Higher BB).On the downside, immediate support is seen at 1.4082 (Lower BB), a break below could take the pair towards 1.4030(Lower BB).
USD/CAD: The Canadian dollar was little changed against its U.S. counterpart on Wednesday, paring gains as the Bank of Canada stayed on course to reduce stimulus further over the coming months and as upcoming U.S. inflation data drew attention. The Bank of Canada left unchanged its key interest rate at a record low 0.25% and said it would maintain the pace of quantitative easing, saying the economy would rebound strongly as vaccinations against COVID-19 picked up.The Canadian dollar was trading nearly unchanged at 1.2113 to the greenback .Immediate resistance can be seen at 1.2142(38.2% fib), an upside break can trigger rise towards 1.2231 (50%fib).On the downside, immediate support is seen at 1.2096(5DMA), a break below could take the pair towards 1.2035 (23.6%fib).
USD/JPY: The dollar rose against the Japanese yen on Wednesday as investors focused on a European Central Bank meeting and the U.S. consumer price index report, both due on Thursday, to gauge the current pace of the economic recovery. Thursday’s U.S. consumer price data is expected to show the overall annual inflation rate spiking to 4.7%, worrying many investors who are not persuaded by the Federal Reserves’s insistence the spike in prices will be transitory. The dollar was last up 0.01 % at 109.60 yen. Strong resistance can be seen at 109.71(38.2%fib), an upside break can trigger rise towards 110.00 (Psychological level).On the downside, immediate support is seen at 109.46 (5DMA), a break below could take the pair towards 109.24 (50%fib).
European stocks remained near record highs on Wednesday, with investors holding off on taking big bets ahead of a policy decision from the European Central Bank and a U.S. inflation reading later this week.
UK's benchmark FTSE 100 closed down by 0.20 percent, Germany's Dax ended down by 0.38 percent, France’s CAC finished the day up by 0.19percent.
Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.
Dow Jones closed down by 0.44% percent, S&P 500 closed down by 0.18% percent, Nasdaq settled down by 0.09% percent.
U.S. Treasury yields moved lower on Wednesday for a second day as traders positioned for inflation data due on Thursday and showed strong demand at an auction, pushing the benchmark 10-year yield below 1.5% for the first time since May 7.
The yield on the 10-year note was down 3.4 basis points at 1.4941% in afternoon trading, after reaching as low as 1.472% earlier in the session.
Gold held in a tight range on Wednesday as investors looked forward to U.S. inflation data that could shape the course of the Federal Reserve’s monetary policy.
Spot gold was down 0.1% at $1,891.05 per ounce by 1:44 p.m EDT (1744 GMT), while U.S. gold futures settled 0.1% up at $1,895.50.
Oil prices were steady on Wednesday after U.S. inventory data showed a surge in gasoline inventories due to weak fuel demand following U.S. Memorial Day weekend, traditionally the beginning of the peak summer driving season.
Brent crude futures remained unchanged to settle at $72.22 a barrel, having earlier touched $72.83, their highest since May 20, 2019.
U.S. West Texas Intermediate (WTI) crude closed 9 cents, or 0.1%, lower at $69.96 a barrel, after reaching $70.62, its highest since Oct. 17, 2018.