America’s Roundup: Dollar dips as rate hike bets fade, Wall Street dips, Gold trims gains, Oil hovers below recent highs, ends week up-October 23rd,2021
Europe Roundup: Sterling dips as risk currencies' rally pauses, European stocks dips,Gold holds firm ,Oil hits multi-year high above $86, then pulls back-October 21st,2021
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
Europe Roundup: Sterling dips after retail sales miss forecasts, European shares rises,Gold gains, Oil stays near $85 a barrel, Brent set for seventh weekly gain-October 22nd,2021
Europe Roundup: Euro falls as stronger U.S. bond yields, dollar weighs, European stocks fall, Gold dips, Oil prices climb as COVID recovery, power generators stoke demand-October 18th, 2021
Europe Roundup: Euro little changed ahead of ECB meeting, European stocks gain, Gold dips, Oil drops ahead of stocks data, Iran talks-October 26th,2021
America’s Roundup: Dollar eases from one-year high after US inflation data, Wall Street ends higher, Gold jumps 2% ,Oil eases on profit taking, demand jitters; stays near highest in years-October 14th,2021
Europe Roundup: Sterling edges lower against dollar, European stocks edge higher, Gold firms, Oil prices extend gains to multi-year highs on tight supply-October 25th,2021
Europe Roundup: Euro dips on dollar advance as traders wait for U.S. jobs data, European shares gains, Gold dips ,Oil holds near 3-year highs after OPEC+ keep tight control of taps-October 5th,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
America’s Roundup: Dollar rebounds after improving jobs, housing data, Wall Street gains, Gold edges down, Oil dives, forecast of mild U.S. winter spurs retreat from multi-year highs-October 22nd,2021
Europe Roundup: Euro eases on firm dollar as Fed seen sticking to taper plans European stocks slip,Gold eases, Oil jumps to multi-year highs on global energy crunch-11th October,2021
Europe Roundup: Sterling edges higher after UK jobs data leaves rate bets intact, European shares dips, Gold firms, Oil nears three-year high on energy crunch fears-October 12th,2021
America’s Roundup: Dollar dips as bonds stabilize, Wall Street ends higher, Gold pares gains, Oil remains near multi-year highs as energy crunch persists-October 20th,2021
Europe Roundup: Sterling holds above $1.36 after UK GDP data, European stocks gain, Gold gains, Oil falls on concerns of faltering economic growth to hit demand-October 13th, 2021
Europe Roundup: Sterling hits four-week high vs dollar, European stocks inch up, Gold gains, Oil prices rise on China energy demand concerns-October 19th,2021
America’s Roundup: Dollar extends gains, Wall Street ends lower, Gold hits two-week low, Oil settles up 1% on low U.S. output after hurricane, Oil settles up 1% on low U.S. output after hurricane-September 9th,2021
• US Redbook (YoY) 16.5%,18.6% previous
• US IBD/TIPP Economic Optimism 48.5,53.6 previous
• Canada BoC Interest Rate Decision 0.25%,0.25% forecast, 0.25% previous
• Canada Aug Ivey PMI n.s.a 63.8,59.8 previous
• US Jul JOLTs Job Openings 10.934M,10.000M forecast, 10.073M previous
• Canada Aug Ivey PMI 66.0, 56.4 previous
Looking Ahead –Economic Data (GMT)
•23:00 Japan Aug M3 Money Supply 1,992.8T previous
•23:00 Japan Foreign Bonds Buying -545.5B previous
•01:30 China Aug CPI (YoY) 1.0% forecast, 1.0% previous
•01:30 China Aug CPI (MoM) 0.5% forecast, 0.3% previous
•01:30 China Aug PPI (YoY ) 9.0% forecast, 9.0% previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro dipped against the dollar on Wednesday ahead of European Central Bank policy decision.Fed Chair Jerome Powell has suggested an improvement in the employment numbers is the remaining major prerequisite for action, and such a move could damage risk appetite. Investors are wary of the ECB meeting on Thursday, anticipating a potential trim to the PEPP (Pandemic Emergency Purchase Programme) bond-buying pace.Analysts polled see PEPP purchases falling possibly as low as 60 billion euros a month from the current 80 billion, before a further fall early next year and the scheme's end in March. The euro slipped 0.05% to $1.1818 for the first time since Sept. 2. Immediate resistance can be seen at 1.1835 (38.2%fib), an upside break can trigger rise towards 1.1865(23.6%fib).On the downside, immediate support is seen at 1.1804(50%fib), a break below could take the pair towards 1.1770 (61.8%fib).
GBP/USD: Sterling fell for the third straight day on Wednesday, with the U.S. dollar broadly stronger and investors digesting the British government's announcement of a tax hike to fund health spending and social care.Lawmakers will vote on Prime Minister Boris Johnson's tax proposals, which raise the overall tax burden to the highest in decades. The pound extended its fall on Tuesday after the announcement. Analysts said higher taxes could slow the economic recovery, but more importantly for the pound may ease pressure on the Bank of England to begin tightening monetary policy. Immediate resistance can be seen at 1.3799(38.2%fib),an upside break can trigger rise towards 1.3856 (23.6%fib).On the downside, immediate support is seen at 1.3752(50%fib), a break below could take the pair towards 1.3703(38.2%fib).
USD/CAD: The Canadian dollar fell to its weakest level in more than two weeks against the greenback on Wednesday, as investors worried that the global economic outlook is deteriorating even as the Bank of Canada looked past a soft patch in the domestic economy. The Bank of Canada left its key interest rate unchanged at a record low 0.25%, as expected. It sees the economy strengthening in the second half of 2021 after shrinking in the second quarter, although a fourth wave of COVID-19 infections and ongoing supply bottlenecks could weigh on the recovery. The loonie was trading 0.2% lower at 1.2675 to the greenback, after touching its weakest intraday level since Aug. 23 at 1.2761.Immediate resistance can be seen at 1.2740(50%fib), an upside break can trigger rise towards 1.2790 (Higher BB).On the downside, immediate support is seen at 1.2667 (38.2%fib), a break below could take the pair towards 1.2605 (9DMA).
USD/JPY: The dollar strengthened against yen on Wednesday investors awaited clues from major central banks on their stimulus tapering measures. Accommodative central bank policies and optimism about reopening economies has pushed dollar higher, but concerns are growing about the impact of rising coronavirus infections due to the Delta variant. The dollar index , which measures the currency against six rivals, ticked up 0.05% to 92.580, after earlier touching 92.590, a level not seen since Sept. 1 .Strong resistance can be seen at 110.42(23.6%fib), an upside break can trigger rise towards 111.00(Psychological level).On the downside, immediate support is seen at 110.10(38.2%fib), a break below could take the pair towards 109.82(50%fib).
European stocks marked their biggest decline in three weeks on Wednesday, a day before a European Central Bank meeting that will see policymakers debate a cut in its pandemic-era stimulus program.
UK's benchmark FTSE 100 closed down by 0.75 percent, Germany's Dax ended down by 1.47 percent, France’s CAC finished the day down by 0.85%percent.
Wall Street ended lower on Wednesday, spooked by worries that the Delta coronavirus variant could blunt the economy’s recovery and on uncertainty about when the Federal Reserve may pull back its accommodative policies.
Dow Jones closed down by 0.20% percent, S&P 500 closed down by 0.13 % percent, Nasdaq settled down by 0.57% percent.
Longer-dated U.S. government bond yields fell on Wednesday and touched a session low after a strong auction by the Treasury of 10-year notes and the Fed's Beige Book of economic activity.
The yield on 10-year Treasury notes was down 3.9 basis points to 1.333%. The yield on the 30-year Treasury bond was down 3.6 basis points to 1.950%.
Gold slipped to a two-week low on Wednesday as strength in the dollar and higher U.S. Treasury yields outweighed the boost to bullion from deepening concerns about global economic growth.
Spot gold was down 0.1% at $1,792.27 per ounce by 1:49 pm EDT (1749 GMT), having dropped to $1,781.30, its lowest since Aug. 26. U.S. gold futures settled down 0.3% at $1,793.5.
Oil prices jumped on Wednesday and settled up more than 1% as U.S. Gulf of Mexico producers made slow progress in restoring output after Hurricane Ida.
Brent settled up91 cents, or 1.3%, at $72.60 and U.S. West Texas Intermediate (WTI) crude settled up 95 cents, or 1.4%, to $69.30 a barrel.