Europe Roundup: Euro’s gains fades on bleak German industrial orders, European stocks rally, Gold rises 1%,Oil climbs on supply jitters as EU plans Russian oil ban-May 5th,2022
Europe Roundup: Euro jumps on ECB rate rise talk, European shares dips, Gold prices firm, Oil rises as supply concerns persist-May 6th, 2022
America’s Roundup: Dollar slips after CPI data as Fed expectations in check, Wall Street ends sharply lower, Gold bounces, Oil up more than 5%, as Russia-EU energy quarrel intensifies-May 12th,2022
Europe Roundup: Sterling steadies near June 2020 low, European shares gains, Gold recovers, Oil drops as economic worries, strong dollar weigh-May 10th,2022
America’s Roundup: Dollar rally stalls as risk appetite returns, Wall Street ends higher, Gold slips, Oil falls 2% on Powell comments, hopes for Venezuela supply-May 18th,2022
America’s Roundup: U.S. dollar hits 20-year high as risk aversion dominates, Wall Street ends down, Gold extends decline ,Oil tumbles about 6% as China COVID lockdowns weigh-May 10th,2022
America’s Roundup: Dollar hits two-decade high, Wall Street ends mixed, Gold retreats, Oil settles mixed amid Beijing lockdown fears, tight supplies-May 13th,2022
Europe Roundup: Sterling strengthens against dollar after strong UK jobs data, European shares gain, Gold gains, Oil rises on EU's Russian oil ban effort, demand hopes-May 17th,2022
Europe Roundup: Sterling dips on worsening global risk sentiment, European shares slip ,Gold prices dips, Oil prices fall on China's weak economic data-May 16th,2022
America’s Roundup: Dollar dips as weak data fans growth fears, Wall Street ends lower ,Gold jumps 1.5%, Oil rebounds from two days of losses in volatile trade-May 20th,2022
America’s Roundup: Dollar gains as inflation jitters return, Wall Street ends sharply lower, Gold erases losses, Oil falls 2.5% as U.S. refiners ramp up output-May 19th,2022
Europe Roundup: Euro falls back towards 2017 lows on Russian energy crisis, European shares gain, Gold falls, Oil rises but set for weekly drop as fears of weaker demand limit gains-May 13th,2022
America’s Roundup: Dollar regains footing after tumble, Wall Street tumbles, Gold retreats, Oil edges up on supply jitters as EU plans Russian oil ban-May 6TH, 2022
Europe Roundup: Euro holds near five-year low ahead of ECB's Lagarde speech, European shares gain, Gold falls to 2-1/2-month trough, Oil slips on China demand worries, while EU weighs Russia oil ban-May 3rd,2022
America’s Round: Dollar gains ahead Of Fed Meeting, Wall Street ends higher, Gold prices slide 2%, Oil settles up on distillate strength, supply concerns-May 3rd,2022
America’s Roundup: Dollar slips ahead of Fed's policy decision, Wall Street ends higher, Gold prices gain, Oil slides as China lockdowns outweigh proposed EU Russia oil ban-May 4th,2022
America’s Roundup: Dollar edges higher after Fed minutes, Wall Street ends lower, Gold dips, Oil rallies even as OPEC+ boosts output, U.S. fuel demand dips-January 6th,2022
•US Dec ADP Nonfarm Employment Change 807K, 400K forecast,534K previous
•Canada Nov New Housing Price Index (MoM) 0.8%, 0.7% forecast, 0.9% previous
•Canada Nov Building Permits (MoM) 6.8%, 2.3% forecast, 1.3% previous
•Canada Nov New Housing Price Index (MoM) 0.8%,0.5% forecast, 0.9% previous
•US Dec Markit Composite PMI 57.0, 56.9 previous
•US Dec Services PMI 57.6, 57.5 forecast, 58.0 previous
•US Gasoline Inventories 10.128M, 1.775M forecast, -1.458M previous
•US Crude Oil Inventories -2.144M,-3.283M forecast, -3.576M previous
Looking Ahead - Economic Data (GMT)
•05:00 Japan Dec CPI Tokyo Ex Food and Energy (MoM) -0.1% previous
•05:00 Japan Dec Tokyo Core CPI (YoY) 0.5% forecast, 0.3% previous
•05:00 Japan Nov Household Spending (YoY) 1.6% forecast, -0.6% previous
•05:00 Japan Nov Household Spending (MoM) 1.2% forecast, 3.4% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro initially gained against dollar on Wednesday but gave up ground after minutes released from the Federal Reserve's December meeting showed the U.S. central bank may need to act more quickly in hiking interest rates to combat inflation. According to minutes from the Fed's Dec. 14-15 policy meeting, Fed officials said last month that the U.S. labor market was "very tight" and it might need not just to raise interest rates sooner than expected, but also reduce asset holdings quickly. Fed funds futures have priced in a 80% chance of a rate hike in March following the release of the Fed minutes. Immediate resistance can be seen at 1.1320(5DMA), an upside break can trigger rise towards 1.1334 (23.6%fib).On the downside, immediate support is seen at 1.1303 (38.2%fib), a break below could take the pair towards 1.1277 (50%fib).
GBP/USD: The pound held just shy of a two-month high on Wednesday as investors ramped up expectations that the Bank of England will raise interest rates as early as next month after a surprise hike in December. And growing expectations that Britain will not introduce COVID-19 measures clamping down on economic activity was also boosting the stock market . Prime Minister Boris Johnson on Tuesday said that England could withstand a surge in COVID-19 infections without shutting down the economy as Britain reported another record daily high in cases fuelled by the Omicron variant. Immediate resistance can be seen at 1.3558 (23.6%fib), an upside break can trigger rise towards 1.3593 (Higher BB).On the downside, immediate support is seen at 1.3513(5DMA), a break below could take the pair towards 1.3477(38.2%fib).
USD/CAD: The Canadian dollar on Wednesday weakened against its U.S. counterpart and major peers as minutes of the U.S. Federal Reserve's latest meeting clipped investor sentiment. Canada is a major exporter of oil and other commodities, so the loonie tends to be sensitive to moves in risk appetite. U.S. crude oil futures pared earlier gains but still settled 1.1% higher at $77.85 a barrel. The loonie was trading 0.4% lower at 1.2758 to the greenback, or 78.38 U.S. cents, the biggest decline among G10 currencies. It traded in a range of 1.2692 to 1.2766. 13 at 1.3192. Immediate resistance can be seen at 1.2788 (14 DMA), an upside break can trigger rise towards 1.2805(23.6%fib).On the downside, immediate support is seen at 1.12743(38.2%fib), a break below could take the pair towards 1.2720(5DMA).
USD/JPY: The U.S. dollar rose versus the yen on Wednesday after the release of the U.S. Federal Reserve's December meeting minutes . Fed officials said the "very tight" U.S. labor market might warrant raising rates sooner than expected as well as reducing the bank's overall asset holdings to tame high inflation, minutes of their Dec. 14-15 policy meeting showed. Investors focus turned to non-farm payrolls numbers expected later this week for a guide to the normalisation timeline. Strong data prints could reinforce the Fed's hawkish bias and further support the dollar. The Japanese yen strengthened 0.07% versus the greenback at 116.06 per dollar. Strong resistance can be seen at 116.23(23.6%fib), an upside break can trigger rise towards 117.00 (Psychological level).On the downside, immediate support is seen at 115.53 (38.2%fib), a break below could take the pair towards 115.18(50%fib).
European automobile stocks rose more than 2% to a record high on Wednesday as investors turned increasingly bullish on the sector on growing expectations for stronger car sales in 2022.
The UK's benchmark FTSE 100 closed up by 0.16 percent, Germany's Dax ended up by 0.74 percent, and France’s CAC finished the up by 0.81 percent.
U.S. stocks slid and Treasury yields jumped on Wednesday after meeting minutes released by the Federal Reserve indicated that it might not only raise interest rates sooner than expected but could also reduce its overall asset holdings to tame high inflation.
Dow Jones closed down by 1.07 percent, S&P 500 ended down 1.94 percent, Nasdaq finished the day down by 3.30 percent.
Gold prices slipped on Wednesday erasing earlier gains, as U.S. bond yields jumped after minutes from the last Federal Reserve meeting showed that the U.S. central bank may need to raise interest rates sooner than expected to curb inflation.
Spot gold was last down 0.2% at $1,810.56 per ounce by 15:21 ET (2021 GMT). U.S. gold futures settled 0.6% higher at $1,825.10.
Oil prices rose on Wednesday, extending gains even after OPEC+ producers stuck to an agreed output target rise for February and U.S. fuel inventories surged due to sliding demand as COVID-19 cases spiked.
Brent crude futures ended up 80 cents, or 1%, to $80.80 a barrel. U.S. West Texas Intermediate (WTI) crude futures closed up 86 cents, or 1.1%, to $77.85.