Europe Roundup: Sterling slips against dollar as traders weigh EU restrictions impact Gold dips, European shares skid to 3-week lows ,Oil slips on US plans to tap emergency crude reserves-November 23rd,2021
Europe Roundup: Sterling steady as rate hike expectations grow, Gold range-bound, European shares edges higher, Oil near six-week low as China readies crude reserve release-November 18th,2021
America’s Roundup: Dollar dips on new coronavirus variant fear, Wall Street ends lower,Gold heads for worst week since mid-Jun, Oil settles down $10/bbl in largest daily drop since April 2020-November 27th,2021
Europe Roundup: Euro slides as Austria's fourth national COVID-19 lockdown begins, Gold hits 2-week low,Oil slips on COVID-19 curbs in Europe-November 22nd,2021
America’s Roundup: Dollar rises as COVID concerns boosts greenbacks appeal, Wall Street ends mixed, Gold slips,Oil dives 3% on resurgent pandemic in Europe-November 20th,2021
America’s Roundup: Dollar dips from 16-month high as rally pauses, Wall street ends mixed ,Gold slips, Oil price hovers above six-week low -November 19th,2021
America’s Roundup: Dollar jumps on Powell renomination, Wall Street retreats, Gold slides over 2%-November 23rd,2021
America’s Roundup: Dollar steadies near 16-month high, Gold drops to near 3-week low, Oil rises 3% to one-week high after U.S. taps emergency reserves-November 24th,2021
Europe Roundup: Sterling rises on reports UK-EU deal on N.Ireland still possible, European shares gain,Gold slips, Oil prices head for weekly dip-November 12th,2021
America’s Roundup: Dollar slips as investors attention turned to US inflation data, Wall Street closes up, Gold hits 2-month peak, Oil lifted by U.S. spending, as supply concerns weigh-November 9th,2021
Europe Roundup: Sterling hits fresh 2021 low vs dollar as UK economy loses steam, European share rise,Gold gains, Oil extends losses triggered by U.S. inflation fears-November 11th,2021
Europe Roundup: Sterling gains after UK jobs rise eases BoE worries, European shares gains, Gold gains, Oil rises on tight inventories, demand worries limit gains-November 16th,2021
America’s Roundup: Dollar eases off highest since July 2020, Wall Street gains,Gold rises, Oil prices post third weekly drop after volatile week-November 13th,2021
America’s Roundup: Dollar dominates as inflation heats up, Wall Street ends little changed, Gold hits 5-month high, Oil settles mixed on questions over crude supply and demand-16th November,2021
Europe Roundup: Euro falls to July 2020 lows as Germany's business morale darkens, Gold steadies, oil prices rise despite release of crude from strategic reserve-November 24th,2021
Europe Roundup: Euro dips as lockdown worries resurfaces in Eurozone European stocks slide, Gold steadies, Oil drops below $80 on European COVID concerns-November 19th,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
•US Sep PPI (MoM) 0.5%,0.6% forecast, 0.7% previous
•US Core PPI (MoM) 0.2%,0.5% forecast, 0.6% previous
•US Sep Core PPI (YoY) 6.8%,7.1% forecast, 6.7% previous
•Canada Aug Manufacturing Sales (MoM) 0.5%0.5% forecast, -1.5% previous
•US Initial Jobless Claims 293K,319K forecast, 326K previous
•US Jobless Claims 4-Week Avg 334.25K ,344.00K previous
•US Continuing Jobless Claims 2,593K,2,675K forecast, 2,714K previous
•US Crude Oil Inventories 6.088M,0.702M forecast, 2.346M previous
•US Natural Gas Storage 81B,94B forecast, 118B previous
Looking Ahead Economic Data (GMT)
•02:00 China Oct Thomson Reuters IPSOS PCSI 73.09 previous
•02:00 Japan Oct Tertiary Industry Activity Index (MoM) -0.6% previous
•02:00 Japan Oct Thomson Reuters IPSOS PCSI 38.06 previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro strengthened on Thursday as dollar dipped as investors assessed whether the Federal Reserve would tighten its monetary policy as early as anticipated .The greenback had rallied since early September on expectations the U.S. central bank would tighten monetary policy more quickly than previously expected amid an improving economy and surging inflation. But the dollar reversed course, even after the minutes of the Fed's Sept. 21-22 policy meeting confirmed the tapering of stimulus is likely to start this year and data showed that pricing pressures were still hitting U.S. consumers. Immediate resistance can be seen at 1.1619 (50%fib), an upside break can trigger rise towards 1.1649(61.8%fib).On the downside, immediate support is seen at 1.1588(38.2%fib), a break below could take the pair towards 1.1544(23.6%fib).
GBP/USD: Sterling hit a two-week high on Thursday, building on the previous session’s gains, as traders focused on hopes a post-Brexit trade war with the European Union will be avoided and on expectations the Bank of England will increase rates this year.Two BoE policy makers are expected to give speeches later in the day and investors will be closely watching for any signs that markets got ahead of themselves in pricing a rise in interest rates before the end of the year. Immediate resistance can be seen at 1.3732(50%fib),an upside break can trigger rise towards 1.3772 (Higher BB).On the downside, immediate support is seen at 1.3667(38.2%fib), a break below could take the pair towards 1.3580(23.6%fib).
USD/CAD: The Canadian dollar on Thursday strengthened to its highest level in more than three months against its U.S. counterpart, as oil prices rose and domestic manufacturing data added to evidence that economic activity picked up in the third quarter. Canadian factory sales rose 0.5% in August from July, on higher sales of petroleum and coal, chemicals and primary metals, Statistics Canada said. The price of oil, one of Canada's major exports, rose after the International Energy Agency said that record natural gas prices would boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply. The Canadian dollar was trading 0.6% higher at 1.2362 to the greenback , its strongest level since July 6.Immediate resistance can be seen at 1.2414 (38.2%fib), an upside break can trigger rise towards 1.2471(50% fib).On the downside, immediate support is seen at 1.2351 (23.6%fib), a break below could take the pair towards 1.2303 (Lower BB).
USD/JPY: The dollar strenthed against yen on Thursday as investors bet the Federal Reserve would begin tapering its asset purchases next month and attention turned to the timing of interest rate hikes. Expectations that the U.S. Federal Reserve would tighten monetary policy more quickly than previously expected amid an improving economy and surging inflation had fuelled a rise in the greenback since early September. Data on Thursday showed the number of Americans filing new claims for unemployment benefits fell sharply last week to the lowest level since mid-March 2020. Strong resistance can be seen at 113.84(23.6%fib), an upside break can trigger rise towards 114.00(Psychological level).On the downside, immediate support is seen at 113.21(38.2%fib), a break below could take the pair towards 112.76(50%fib).
European stocks rose on Thursday, hitting the highest in more than two weeks as investors bet a steady economic recovery from the pandemic-induced slump will support corporate earnings despite signs of elevated inflation.
UK's benchmark FTSE 100 closed up by 0.92 percent, Germany's Dax ended up by 1.40 percent, France’s CAC finished the day up by 1.33 percent.
Wall Street rose on Thursday after big banks reported better-than-expected quarterly results, helping investors to look away from inflation concerns.
Dow Jones closed ended up by 1.56 percent, S&P 500 ended up by 1.71 percent, Nasdaq finished the day up by 1.73 % percent.
U.S. Treasury yields fell on Thursday after data on the labor market and inflation eased worries the Federal Reserve may need to take action earlier than expected to combat rising prices, with shorter-dated notes poised to snap an extended run higher.
The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 1.4 basis points at 0.354% and poised for its first decline after seven straight days of gains, its longest streak since June.
Gold touched a one-month high on Thursday, as a dip in the dollar and U.S. bond yields allowed investors to turn to bullion as an inflation hedge.
Spot gold gained 0.2% at $1,796.59 per ounce by 13:46 p.m. EDT (1746 GMT), after hitting its highest since Sept. 15 at $1,800.12. U.S. gold futures settled up 0.2% at $1,797.9.
Oil prices rose 1% on Thursday after top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply and the International Energy Agency said surging natural gas prices could boost demand for oil among power generators.
Brent crude futures settled up 82 cents to $84 a barrel, a 1% gain, and its highest settle since October 2018. U.S. West Texas Intermediate (WTI) crude futures ended up 87 cents to $81.31 a barrel, notching another seven-year closing high.