America’s Roundup: Dollar gains on hawkish comments from Powell, Wall Street ends mixed, Gold little changed, Oil slides 2% on rising U.S. fuel stocks and output-June 30th,2022
Market Roundup: Sterling rises as BoE's Pill sees further rate rises ahead, European shares gain, Gold dips, Oil rises on market caution over tight supply-June 21st,2022
America’s Roundup: Dollar rises on safe-haven demand, Wall Street ends mixed, Gold drops over 2%, Oil tumbles 9% on recession demand destruction fears-July 6th,2022
Europe Roundup: Euro rises with focus on ECB, European stocks muted, Oil prices stable as market balances recession fears with tight supply-June 20th,2022
Europe Roundup:Pound gains as traders monitor upcoming BoE signals, European shares gains, Gold edges lower, Oil prices reverse losses, gain on concerns over supply shortages-July 4th,2022
America’s Roundup: Dollar weakens against euro, sterling in U.S. holiday trading, Gold slips, Oil rises as supply shortages outweigh recession fears-July 5th,2022
America’s Roundup: Dollar eases as growth fears push yields lower, Wall Street ends lower, Gold gains, Oil falls around 3% -June 23rd,2022
America’s Roundup: Dollar eases as investor await more cues from Fed, Gold firms, Oil swings higher as tight supplies overshadow demand destruction-June 21st,2022
America’s Roundup: Dollar pulls back as markets reconsider Fed rate bets, Wall Street ends higher, Gold edges lower, Oil surges after G7 pledge fresh Russian sanctions-June 28th,2022
Europe Roundup: Pound dips on record current account shortfall , European shares dips,Gold falls, Oil steady as fuel stocks counter supply concerns-June 30th,2022
America’s Roundup: Dollar pulls back as markets reassess Fed interest rate path, Wall Street ends higher, Gold edges higher, Oil settles up but posts a weekly decline on recession worries-June 25th,2022
Europe Roundup: Sterling heads for third week of losses as dollar stands tall, European shares gains, Gold falls, Oil rises on tight supply though interest rate hikes weigh-June 17th,2022
America’s Roundup: Dollar gains, euro slips as Lagarde keeps July policy choices open, Wall Street stumbles, Gold little changed, Oil settles higher as major producers signal capacity limits-June 29th,2022
America’s Roundup: Dollar bounces from two-day slide,Wall Street plunges, Gold gains, Oil rebounds as new Iran sanctions fuel more supply concerns-June 17th,2022
America’s Roundup: U.S. dollar gains from one-week low, Wall Street ends up, Gold falls, Oil slumps 6% to four-week low on recession worries-June 18th,2022
America’s Roundup: Dollar slips as recession risk keeps investors cautious, Wall Street ends higher, Gold falls, Oil ticks higher on strong demand, tight supply-June 22nd,2022
America’s Roundup: Dollar eases as traders scale back bets on Fed tightening, Wall Street ends higher, Gold slips, Oil rises to 2-month high on tight supplies, EU seeks Russian crude ban-May 27th,2022
•US Continuing Jobless Claims 1,346K,1,310K forecast, 1,317K previous
•US Jobless Claims 4-Week Avg 206.75K,199.50K previous
•US Initial Jobless Claims210K, 215K forecast, 218K previous
• Canada Mar Core Retail Sales (MoM) 2.4%,2.0% forecast, 2.1% previous
•Canada Mar Retail Sales (MoM) 0.0%,1.4% forecast, 0.1% previous
•US Mar GDP Price Index (QoQ) (Q1) 8.1% ,8.0% forecast, 8.0% previous
•US Core PCE Prices (Q1) 5.10% ,5.20% forecast,5.20% previous
•US GDP (QoQ) (Q1) -1.5% ,-1.3% forecast,-1.4% previous
•US Apr Pending Home Sales Index 99.3 ,103.7 previous
•US Apr Pending Home Sales (MoM) -3.9% ,-2.0% forecast,-1.2% previous
•US Natural Gas Storage 80B ,89B forecast,-89B previous
•US May KC Fed Manufacturing Index 19 ,28 previous
•US May KC Fed Composite Index 23 ,25 previous
Looking Ahead - Economic Data (GMT)
•No data ahead
Looking Ahead - Economic events and other releases (GMT)
•No events ahead
EUR/USD: The euro strengthened on Thursday as European Central Bank (ECB) policymakers soothed fears of more aggressive rate tightening than expected, starting from a 50-basis-point interest rate increase in July. ECB chief Christine Lagarde gained key allies for her tightening plan on Wednesday, but Klaas Knot, one of the most conservative governing council members, argued right away that the central bank should not yet rule out a 50-basis-point interest rate increase in July.Lagarde has advocated a gradual approach to monetary tightening while asserting the ECB is free to react to the effects on the economy and the inflation outlook as rates rise. Immediate resistance can be seen at 1.0756(38.2%fib), an upside break can trigger rise towards 1.0784 (Higher BB).On the downside, immediate support is seen at 1.0649(23.6%fib), a break below could take the pair towards 1.0605 (9DMA).
GBP/USD: Sterling held near its highest levels in three weeks on Thursday, with traders awaiting more details on the British government’s response to a cost-of-living crisis.Sterling has been hit hard in recent weeks by growing fears that Britain’s economy is heading towards recession and analysts said any signs of government support could help lift sentiment toward the currency, which has rebounded this week.The pound was broadly steady at $1.2594, having briefly touched a three-week peak at $1.2612. It was also little changed versus the euro at 84.96 pence.Immediate resistance can be seen at 1.2603(38.2%fib),an upside break can trigger rise towards 1.2702(50%fib).On the downside, immediate support is seen at 1.2559(5DMA), a break below could take the pair towards 1.2493 (23.6%fib).
USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Thursday as a jump in oil prices and improvement in risk appetite offset domestic data showing that retail sales growth stalled in March. Wall Street surged as a raft of solid retail earnings and soft economic data eased lingering concerns that the Federal Reserve's aggressive policy tightening would extend beyond expectations. Canadian retail sales were unchanged in March from February, missing estimates for a 1.4% advance, as lower sales at motor vehicle and parts dealers offset gains in all other subsectors. A preliminary estimate showed that sales grew 0.8% in April. Immediate resistance can be seen at 1.2791(5DMA), an upside break can trigger rise towards 1.2824 (38.2%fib).On the downside, immediate support is seen at 1.2736 (50%fib), a break below could take the pair towards 1.2694(Lower BB).
USD/JPY: The dollar edged lower against the Japanese yen on Thursday as markets considered whether the Federal Reserve might slow or even pause its tightening cycle in the second half of the year, which would weaken the allure of the dollar. Dollar began to weaken after minutes from the Fed's May meeting, released Wednesday, showed that most participants judged that 50 basis-point hikes would likely be appropriate at the June and July policy meetings to combat inflation that they agreed had become a key threat to the economy's performance. The dollar edged down 0.011% against the Japanese yen to 127.155 yen. Strong resistance can be seen at 127.38(5DMA), an upside break can trigger rise towards 128.47(23.6%fibOn the downside, immediate support is seen at 126.33 (50DMA), a break below could take the pair towards 125.00(Psychological level).
European markets rose on Thursday with the retail sector leading the charge as Britain revealed new stimulus plans, while the U.S. Federal Reserve sticking to its monetary policy tightening script also bolstered risk appetite.
UK's benchmark FTSE 100 closed up by 0.56 percent, Germany's Dax ended up by 1.59 percent, France’s CAC finished the day up by1.78 percent.
Wall Street closed sharply higher on Thursday after optimistic retail earnings outlooks and waning concerns about overly aggressive interest rate hikes by the Federal Reserve put investors in a buying mood.
Dow Jones closed up by 1.61% percent, S&P 500 closed down by 1.99% percent, Nasdaq settled up by 2.68% percent.
U.S. Treasury yields were little changed on Thursday after the benchmark 10-year note hit a fresh six-week low, with inflation fears continuing to dissipate as economic data and corporate announcements point to slower growth.
The yield on 10-year Treasury notes rose 0.9 basis points to 2.756% after falling to 2.706% early in the session.
Gold prices slipped on Thursday as the U.S. Federal Reserve's aggressive monetary policy tightening plan dimmed the metal's appeal, with additional pressure from a rebound in equities.
Spot gold fell 0.18% to $1,849.52 per ounce by 2:12 p.m. ET (1812 GMT). U.S. gold futures settled up 0.07% at $1,847.6.
Oil prices climbed about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine.
Brent futures rose $3.37, or 3.0%, to settle at $117.40 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $3.76, or 3.4%, to settle at $114.09.