Europe Roundup: Sterling tumbles after Britain's new economic plan, European shares extend falls, Gold hits more than 2-year low, Oil prices down 3% with recession fears in focus-September 23rd,2022
America’s Roundup: Dollar flat, sterling rises after week of turmoil, Wall Street ends lower, Gold rise to a one-week high, Oil falls but notches weekly gain as OPEC+ considers output cut-October 1st,2022
America’s Roundup: Dollar retreats from recent high, Wall Street ends down sharply, Gold little changed, Oil settles lower after hitting $90/bbl as OPEC+ considers output cut-September 30th,2022
Korean Air will receive SAF from Shell at major airports in the Asia-Pacific and the Middle East regions.
Europe Roundup: Pound drops more than 1% as Bank of England steps into bond market , European shares slide, Gold slides to 2-1/2 year low, Oil prices stable as soaring dollar offset by U.S. output outages-September 28th,2022
America’s Roundup: Dollar dips ahead of CPI report, Wall Street ends higher, Gold gains , Oil prices settle higher amid supply concerns heading into winter-September 13th,2022
Volkswagen Korea’s dealers was said to be promising customers that they can immediately receive their cars regardless of waiting number.
Breweries are concerned that demand will plummet from October when consumers become even more budget-minded.
Europe Roundup: Sterling languishes near 37-year low vs dollar European shares falls, Gold dips, Oil falls more than 2% on demand fears-September 19th,2022
America’s Roundup: Dollar edges higher as traders await U.S. inflation report, Wall ends lower, Gold ticks up, Oil settles lower as halted Russian pipeline flows appear temporary, demand fears rise-August 10th,2022
• US Unit Labor Costs (QoQ) (Q2) 10.8% , 9.5% forecast, 12.6% previous
• US Nonfarm Productivity (QoQ) (Q2) -4.6%, -4.7% forecast, -7.3% previous
• US Redbook (YoY) 10.4%,15.5% previous
•US IBD/TIPP Economic Optimism 38.1, 40.2 forecast, 38.5 previous
•US API Weekly Crude Oil Stock 2.156M, 0.073M forecast,2.165M previous
•US 3-Year Note Auction 3.202%, 3.093% previous
Looking Ahead - Economic Data (GMT)
•01:30 China Jul PPI (YoY) 4.8% forecast, 6.1% previous
•01:30 China Jul CPI (YoY) 2.9% forecast, 2.5% previous
•01:30 China Jul CPI (MoM) 0.5% forecast, -0.2% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro edged lower on Tuesday as dollar gained ahead of key inflation figures that could offer clues on how aggressive the Federal Reserve will be in its expected interest rate hike in September. The greenback had drifted lower in European session , but reversed course as U.S. stock markets slid on profit warnings, global inflationary concerns, and data that showed U.S. worker productivity fell sharply in the second quarter. The big focus for traders is on Wednesday's U.S. Consumer Price Index report, which is expected to show that decades-high inflation eased in July following back-to-back 75-basis point hikes by the Fed in June and July. The euro was last down 0.04% at $1.0204. Immediate resistance can be seen at 1.0254(38.2%fib), an upside break can trigger rise towards 1.0301(Aug 5th high).On the downside, immediate support is seen at 1.0190(50%fib), a break below could take the pair towards 1.0168(61.8%fib).
GBP/USD: Sterling little changed against dollar on Tuesday as market currencies made muted moves ahead of an US inflation test. The U.S. consumer price report for July is due at 8:30 a.m. ET (1230 GMT) on Wednesday. Ahead of the inflation report, analysts polled by Reuters expect annual inflation to have eased to 8.7% from 9.1% in June. Meanwhile, the Bank of England will probably have to raise interest rates further to tackle inflation pressures that are gaining a foothold in Britain’s economy, BoE Deputy Governor Dave Ramsden said. The central bank lifted rates by a large 50 basis points last week but warned of an incoming recession. Immediate resistance can be seen at 1.2112(14DMA), an upside break can trigger rise towards 1.2167(38.2%fib).On the downside, immediate support is seen at 1.2032(23.6%fib),a break below could take the pair towards 1.1967(July 26th low).
USD/CAD: The Canadian dollar weakened against its U.S. counterpart on Tuesday, adding to its August decline, as cautious trading gripped financial markets ahead of a key U.S. inflation report this week. The loonie has weakened 0.8% since the start of the month. It has lost ground in August for seven of the last eight years. The price of oil, one of Canada's major exports, settled0.3% lower at $90.50 a barrel as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine. The Canadian dollar was down 0.3% at 1.2895 to the greenback , after trading in a range of 1.2844 to 1.2900. Immediate resistance can be seen at 1.2889 (5DMA), an upside break can trigger rise towards 1.2950 (5DMA).On the downside, immediate support is seen at 1.2872 (38.2% fib), a break below could take the pair towards 1.2800 (50% fib).
USD/JPY: The dollar strengthened against yen on Tuesday as investors eyed U.S. inflation data on Wednesday that will likely yield clues to any further aggressive Federal Reserve rate hikes. The stakes are high for the July U.S. consumer prices report on Wednesday after an unexpectedly strong U.S. jobs data last week boosted expectations of a sharp interest rate increase to tackle soaring inflation. Investors awaited the consumer price data to gauge whether the Fed might ease slightly in its inflation fight and provide a better footing for the economy to grow. Strong resistance can be seen at 135.42(38.2%fib), an upside break can trigger rise towards 136.00(Psychological level).On the downside, immediate support is seen at 134.59 (5DMA), a break below could take the pair towards 133.96 (50%fib).
European stocks closed broadly lower on Tuesday as investors largely stayed cautious and refrained from making significant moves ahead of Wednesday's U.S. inflation data, which is expected to provide clues about the pace of Federal Reserve's policy tightening moves.
UK's benchmark FTSE 100 closed down by 3.11 percent, Germany's Dax ended down by 3.43 percent, France’s CAC finished the day down by 2.92 percent.
The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await U.S. inflation data that could lead the Federal Reserve to further tighten its efforts to curb inflation.
Dow Jones closed down by 0.18% percent, S&P 500 closed down by 0.42% percent, Nasdaq settled down by 1.19% percent.
U.S. Treasury yields edged higher on Tuesday as investors waited on highly anticipated inflation data on Wednesday, which will be scrutinized for how aggressively the Federal Reserve might continue to raise interest rates.
Benchmark 10-year note yields rose to 2.799% on Tuesday and are holding just below the 2.869% level reached on Friday, which was the highest since July 22. Two-year yields were last 3.286%, after reaching 3.331% on Friday, the highest since June 16.
Gold prices gained on Tuesday as market participants awaited U.S. inflation data for cues on the Federal Reserve’s policy tightening path.
Spot gold was 0.4% higher at $1,794.76 per ounce by 10:52 a.m. ET (1452 GMT), while U.S. gold futures rose 0.4% to $1,811.40.
Oil prices settled slightly lower on Tuesday after a see-saw session as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine.
Brent crude settled at $96.31 a barrel, losing 34 cents, or 0.4%. U.S. West Texas Intermediate (WTI) crude settled at $90.50 a barrel, shedding 26 cents, or 0.3%. During the session, both benchmarks rose and fell by more than $1 a barrel.
What is a semiconductor? An electrical engineer explains how these critical electronic components work and how they are made