Europe Roundup: Sterling falls to three-week low against dollar , European shares rise , Gold drops ,Oil prices ease as all eyes on US debt ceiling talks
Europe Roundup: Pound heads for biggest weekly gain in six months, European shares gains, Gold gains, Oil prices rise after U.S. debt deal, all eyes on OPEC meeting
America’s Roundup: Dollar edges down following U.S. debt ceiling deal, Gold steadies, Oil ticks up as markets weigh U.S. debt deal, rate hike possibility-May 30th,2023
Europe Roundup: Sterling rises but sticky inflation remains in focus, European stocks steady, Gold bounces back, Oil falls 2% on US debt deal struggles, OPEC+ talks uncertainty
America’s Roundup: Dollar stumbles as signs point to Fed skipping June rate hike,Wall Street rises,Gold climbs, Oil rises 3% on US debt ceiling progress, traders on alert for OPEC+ meeting-June 2nd,2023
Europe Roundup: Sterling gains against dollar ahead of UK jobs data,European stocks rise, Gold ticks up, Oil prices rise as tight supplies compete with economic concerns-May 15th,2023
America’s Roundup: Dollar gains after strong jobs data, Wall Street ends up, Gold slips,Oil up over 2% after US debt deal and jobs data, focus turns to OPEC+
America’s Roundup: Dollar gains on resilient U.S. economy, flight to safety, Wall Street ends down, Gold dips ,Oil prices gain 2% on falling U.S. stockpiles, Saudi warning-May 25th,2023
Europe Roundup: Sterling falls against dollar, European shares hit two-month, Gold steadies, Oil falls on weak China data, stronger U.S. dollar
America’s Roundup: US dollar drops after Fed's Powell hints at June pause , Wall Street slips, Gold gains, Oil slips as debt talks pause, Fed warns of high inflation
Europe Roundup: Euro gains against dollar, European stocks muted , Gold edges higher,Oil steady as U.S. default risk offsets demand outlook-May 22nd -2023
America’s Roundup: Dollar drifts higher as US debt ceiling in spotlight, Wall Street closes lower , Oil dips as weaker China, US economic data offset IEA demand forecast-May 17th,2023
America’s Roundup: Dollar set for third week of gains , Wall Street rallies, Gold retreats, Oil prices edge higher as US closes in on debt deal-May 27th,2023
Europe Roundup: Sterling gives up initial gains after hot UK inflation figures, European shares slump to three-week lows, Gold little changed, Oil prices up after bullish Saudi comments, falling U.S. stockpiles
Europe Roundup: Euro steadies near two-month low as inflation drops in relief for ECB , European stocks rebound from two-month lows , Gold subdued , Oil steadies as higher inventories balance U.S debt bill progress-May 1st,2023
Europe Roundup: Sterling gains against dollar, European shares rise, Gold bounces, Oil broadly steady amid OPEC+ supply cut uncertainty, demand worries
America’s Roundup: Dollar dips after weak U.S. factory production data, Wall Street gains, Gold edges down, Oil prices pull back as U.S. factory data intensifies demand concerns-October 19th,2021
• Canada Sep Housing Starts 251.2K,255.0K forecast, 260.2K previous
• Canada August Foreign Securities Purchases 15.17B,14.19B previous
• French 12-Month BTF Auction -0.629%,-0.641% previous
• French 3-Month BTF Auction -0.732%,-0.740% previous
• French 6-Month BTF Auction -0.667%., -0.675% previous
• US Sep Industrial Production (MoM) -1.3%, 0.2% forecast, 0.4% previous
• US Sep Capacity Utilization Rate 75.2%, 76.5% forecast, 76.4% previous
• US Sep Manufacturing Production (MoM) -0.7%,0.1% forecast, 0.2% previous
• US Sep Industrial Production (YoY) 4.60%, 5.95% previous
• US Oct NAHB Housing Market Index 80, 76 forecast, 76 previous
• US 3-Month Bill Auction 0.060%, 0.050% previous
• US 6-Month Bill Auction 0.055% ,0.055% previous
• US Federal Budget Balance -171.0B previous
Looking Ahead Economic Data (GMT)
•No data ahead
Looking Ahead - Events, Other Releases (GMT)
• 01:30 Australia RBA Meeting Minutes
EUR/USD: The euro strengthened on Monday as dollar dipped after data showed production at U.S. factories fell by the most in seven months in September, erasing earlier gains on expectations that the Federal Reserve may be closer to raising interest rates than previously expected.U.S. manufacturing output was hurt as an ongoing global shortage of semiconductors depressed motor vehicle output, providing further evidence that supply constraints were hampering economic growth. The euro rose 0.11% to $1.1610, after earlier dropping to $1.1570. Immediate resistance can be seen at 1.1620 (20DMA), an upside break can trigger rise towards 1.1629(38.2%fib).On the downside, immediate support is seen at 1.1571(23.6%fib), a break below could take the pair towards 1.1500 (Psychological level).
GBP/USD: The British pound steadied against the dollar on Monday after Bank of England Governor Andrew Bailey sent a fresh signal that the central bank is gearing up to raise interest rates as inflation risks mount. During an online panel discussion on Sunday organised by the Group of 30 consultative group, Bailey said the BoE will “have to act” in its monetary policy meetings on the risk of medium term inflation.He continued to believe that the recent jump in inflation would be temporary, but that a surge in energy prices would push it higher and make its climb last longer. Investors were awaiting CPI September inflation data for Britain due on Wednesday. Immediate resistance can be seen at 1.3761(50%fib),an upside break can trigger rise towards 1.3848(61.8%fib).On the downside, immediate support is seen at 1.3678(38.2%fib), a break below could take the pair towards 1.3615(20DMA).
USD/CAD: The Canadian dollar barely moved against its U.S. counterpart on Monday as oil prices rose and data showed slower economic growth in China, with the currency holding near a three-month high. World stock markets dipped after data showed slower-than-expected growth in China's economy last quarter, and surging prices for oil, one of Canada's major exports, fed inflation concerns. U.S. crude oil futures were up nearly 1% at $83.07 a barrel, buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation . Immediate resistance can be seen at 1.2387 (5DMA), an upside break can trigger rise towards 1.2440(38.2%fib).On the downside, immediate support is seen at 1.2341(23.6%fib), a break below could take the pair towards 1.2306 (Lower BB).
USD/JPY: The dollar retreated slightly against yen on Monday as an unexpected drop in U.S. industrial production tamed rising dollar. US September industrial and manufacturing output unexpectedly fell and August data was revised lower. Production at U.S. factories fell by the most in seven months in September as an ongoing global shortage of semiconductors depressed motor vehicle output, further evidence that supply constraints were hampering economic growth.The dollar fell 0.02% to 93.95 against a basket of currencies. It had earlier reached 94.17. Strong resistance can be seen at 114.55(23.6%fib), an upside break can trigger rise towards 115.00(Psychological level).On the downside, immediate support is seen at 113.95(38.2%fib), a break below could take the pair towards 113.50(50%fib).
European shares declined on Thursday after a sobering warning from the World Health Organization that the coronavirus may never go away and signals that top central banks may have hit the bottom with interest rates.
UK's benchmark FTSE 100 closed down by 0.42 percent, Germany's Dax ended down by 0.72 percent, France’s CAC finished the day down by 0.81 percent.
U.S. stocks rose on Monday on gains in heavyweight technology companies, although sentiment remained fragile due to slowing economic growth in China and concerns of elevated inflation due to a relentless surge in oil prices.
Dow Jones closed down by 0.10% percent, S&P 500 closed up by 0.34 % percent, Nasdaq settled up by 0.84% percent.
Mid-term U.S. Treasury yields resumed their upward march on Monday with five-year yields rising to their highest levels since early 2020 as traders positioned for expected central bank rate hikes.
Yields on benchmark 10-year U.S. debt were up 2.6 basis points at 1.6019%.
Gold edged lower on Monday as a rise in U.S. Treasury yields dented its appeal, although a risk-off sentiment in wider financial markets limited losses for the metal.
Spot gold was down 0.1% at $1,765.14 per ounce by 1:35 p.m. EDT (1735 GMT), while U.S. gold futures settled down 0.2% at $1,765.70.
Oil prices pulled back after touching multi-year highs on Monday, trading mixed as U.S. industrial output for September fell, tempering early enthusiasm about demand.
U.S. West Texas Intermediate (WTI) crude settled 16 cents higher, or 0.19%, at $82.44 a barrel, after hitting $83.87, their highest since October 2014.