Europe Roundup: Euro dips as dollar strengthens ahead of Fed meeting, European stocks slip, Gold slips to 1-week low, Oil prices steady as rising demand outlook tempered by COVID worries-April 28th,2021
Europe Roundup: Sterling set for second week of gains versus dollar, European stocks rebound, Gold rises, Oil prices rise but India coronavirus cases weigh-May 14th,2021
Europe Roundup: Sterling transcends above $1.40 for first time since February, European stocks inch higher , Gold gains, Oil gains after cyber-attack leads to closure of U.S. fuel pipelines-May 10th,2021
America’s Roundup: Dollar index little changed after more proof of rising inflation, Wall Street ends higher ,Gold rebounds, Oil drops 3% on India's COVID-19 catastrophe, U.S. pipeline restart-May 14th,2021
Europe Roundup:Euro climbs on upbeat German investor sentiment,European shares dips, Gold flat, Oil dips as pipeline outage fears ease, India weighs-May 11th,2021
America’s Roundup: Dollar index trades weak close to over 2-month low, Wall Street closes lower, Gold hovers near 3-month peak, Oil gains after cyberattack powers closure of critical U.S. pipelines-May 11th,2021
Europe Roundup: Euro gains against dollar ahead of U.S. jobs data, European stocks hit a record high , Gold gains,Oil prices set for weekly gain despite India virus surge-May 7th,2021
America’s Roundup: Dollar dips after US retail sales data ,Wall Street ends higher, Gold rises, Oil prices jump as major U.S. fuel pipeline restarts but COVID concerns cap gains-May 15th,2021
America’s Roundup: Dollar eases off of two-week high ahead of jobs report as mega cap , Wall Street rises , Gold firms, Oil ends little changed, U.S. oil inventories fall-May 6th,2021
Europe Roundup: Sterling steadies above $1.40 against dollar, European shares dip, Gold hits 1-week low, Oil drops on India's COVID-19 crisis, pipeline resumption-May 13th,2021
America’s Roundup: Dollar dips after U.S. central bank dampens taper hopes, Wall Street ends, Gold gains, Oil gains more than 1% on fuel demand hopes-April 29th,2021
Europe Roundup: Sterling holds recent gains against dollar, European stocks inched higher, Gold hits 3 month high, Oil prices stable as recovery confidence holds up-May 17th, 2021
America’s Roundup: Dollar climbs as risk appetite fades, Gold falls from 2-mth high, Oil rises on U.S. and European demand growth optimism-May 5th,2021
America’s Roundup: Dollar heads for longest weekly losing streak since July ,Wall street ends lower,Gold prices dips, Oil prices slips as India's demand fears weigh-May 1st,2021
America’s Roundup: Dollar slips after disappointing U.S. jobs data, wall street ends higher Gold gains, Oil prices set for weekly gain despite India virus surge-May 8th,2021
Europe Roundup: Euro dips against dollar ahead of U.S. inflation data, European stocks inch higher ,Gold slips, Oil climbs on demand outlook as market awaits fresh cues-May 12th,2021
America’s Roundup: Dollar at three-week lows as Treasury yields subdued, Wall Street ends mixed, Gold falls, Oil climbs nearly 5% on signs of increasing crude demand-April 15th,2021
•US March Import Price Index (MoM) 1.2%, 1.0% forecast, 1.3% previous
•US March Export Price Index (MoM) 2.1%,1.0% forecast, 1.6% previous
•US Export Price Index (YoY) 9.1%,5.2% previous
•US Import Price Index (YoY) 6.9%,3.0% previous
•14:30 US Gasoline Inventories 0.309M,0.786M forecast, 4.044M previous
•14:30 US Crude Oil Inventories- -5.889M, 2.889M forecast, -3.522M previous
Looking Ahead – Economic Data (GMT)
•22:45 New Zealand March FPI (MoM) -0.9% previous
•22:45 New Zealand Feb External Migration & Visitors -98.70% previous
•23:50 Japan Foreign Bonds Buying 377.0B previous
•23:50 Japan Foreign Investments in Japanese Stocks 978.4B previous
•04:00 New Zealand Mar Business NZ PMI 53.4 previous
•23:50 Japan Apr Reuters Tankan Index 6 previous
•07:00 Chinese Unemployment Rate 5.5% previous
•07:00 Chinese March Industrial Production YTD (YoY) 35.1% previous
•07:00 Chinese China Thomson Reuters IPSOS PCSI 72.69 previous
•07:00 China GDP (YoY) (Q1) 18.9% forecast, 6.5% previous
•07:30 China March Industrial Production (YoY) 17.2%forecast, 35.1% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro strengthened against dollar on Wednesday as sharp rise in U.S. inflation decreased demand for greenback. The U.S. consumer price index rose 0.6% in March, the biggest increase since August 2012, as rising vaccinations and fiscal stimulus unleashed pent-up demand, data showed on Tuesday. Economists polled had forecast the CPI would rise 0.5%. However, euro gains were capped after Johnson & Johnson said it would delay rolling out its COVID-19 vaccine to Europe, after U.S. health agencies recommended pausing its use in the country after six women developed rare blood clots. Immediate resistance can be seen at 1.1978 (Daily high), an upside break can trigger rise towards 1.2021 (50%fib).On the downside, immediate support is seen at 1.1935 (38.2%fib), a break below could take the pair towards 1.1877(9DMA).
GBP/USD: Sterling hit a one-week high against the dollar on Wednesday, recovering some ground after a brief dip the previous day following news the Bank of England’s chief economist resigned.The pound dipped on Tuesday afternoon, hitting a six-week low against the euro and extending losses against the dollar after the announcement of Andrew Haldane’s resignation. Haldane was widely seen as one of the more hawkish figures at the central bank, and had been the most upbeat member of the BoE’s Monetary Policy Committee. Immediate resistance can be seen at 1.3814 (38.2%fib), an upside break can trigger rise towards 1.3857 (50DMA).On the downside, immediate support is seen at 1.3728 (50%fib), a break below could take the pair towards 1.3700(Psychological level).
USD/CAD: The Canadian dollar edged higher against its U.S. counterpart on Wednesday as oil, one of Canada's major exports, rallied and ahead of a Bank of Canada policy meeting next week that could see the central bank cut its bond purchases. Oil surged after a report from the International Energy Agency, followed by U.S. inventory data boosted optimism about returning demand. U.S. crude oil futures settled 4.9% higher at $63.15 a barrel. The loonie was up 0.1% at 1.2517 to the greenback, notching its second straight day of gains. It traded in a range of 1.2500 to 1.2575. Immediate resistance can be seen at 1.2553 (9DMA), an upside break can trigger rise towards 1.2589 (38.2%fib).On the downside, immediate support is seen at 1.2486 (23.6%fib), a break below could take the pair towards 1.2400(Psychological level).
USD/JPY: The dollar declined against the Japanese yen on Wednesday as Treasury yields held below recent highs, reducing the relative attractiveness of the U.S. currency. The dollar has gained this year as Treasury yields rose on expectations of faster growth and higher inflation. That trade has paused this month, however, with yields stabilizing below one-year highs reached last month. The dollar index fell to as low as 91.57, the lowest since March 18, and was last at 91.68, down 0.11% on the day.The greenback fell 0.13% to 108.92 Japanese yen. Strong resistance can be seen at 109.26 (30DMA), an upside break can trigger rise towards 109.59(23.6%fib).On the downside, immediate support is seen at 108.58 (38.2%fib), a break below could take the pair towards 108.17 (Lower BB).
European stocks rose on Wednesday on upbeat earnings from software firm SAP and French luxury goods maker LVMH, while German shares lagged after sources said the country’s economic institutes cut 2021 GDP forecast.
UK's benchmark FTSE 100 closed up by 0.71 percent, Germany's Dax ended down by 0.17 percent, France’s CAC finished the day up by 0.40 percent
The S&P 500 dipped after hitting a record high for the fourth session in five and the Dow Industrials rose on Wednesday, as Wall Street banks kicked off earnings season with first-quarter numbers that lifted hopes for a strong corporate rebound.
Dow Jones closed up by 0.16% percent, S&P 500 closed down by 0.34% percent, Nasdaq settled down by 0.99% percent.
U.S. Treasury yields edged higher and the yield curve steepened on Wednesday as the market awaited Thursday's release of weekly jobless claims and March retail sales data for further clues on the economy's recovery from the coronavirus pandemic.
The benchmark 10-year yield was last up 1.3 basis points at 1.6359%, holding below a 14-month high of 1.776% reached on March 30.
Gold fell on Wednesday as an uptick in U.S. Treasury yields weighed on the non-yielding bullion's appeal, eclipsing support from a softer dollar.
Spot gold fell 0.5% to $1,736.02 per ounce by 2:20 p.m EDT (1820 GMT). U.S. gold futures settled down 0.6% at $1,736.30.
Oil prices surged almost 5% on Wednesday, after a report from the International Energy Agency, followed by U.S. inventory data boosted optimism about returning demand after the coronavirus lockdowns last year crushed fuel consumption.
Brent crude futures rose $2.91, or 4.6%, to settle at $66.58 a barrel. U.S. West Texas Intermediate (WTI) crude ended $2.97, or 4.9%, higher at $63.15 a barrel.