Europe Roundup: Euro slides back towards two-decade lows, European shares slip, Gold gains,Oil prices surge as Putin mobilises more troops-September 21st,2022
Europe Roundup: Sterling crumbles to all-time low, European shares falls, Gold pinned near 2-1/2-year low, Oil prices hit nine-month low on recession fears-September 26th,2022
America’s Roundup: U.S. dollar soars to two-decade high as Fed flags more large hikes, Wall Street slumps, Gold bounces ,Oil prices slide 1% after U.S. Fed raises interest rates-September 22nd,2022
Europe Roundup:Euro jumps on hawkish ECB signals, European shares advances, Gold ticks, Oil prices rise as supply uncertainty mounts-September 12th,2022
America’s Roundup: Dollar falls as investors balance their positions ahead of US inflation data, Wall Street ends higher, Gold gains, Oil rises 4% on supply threats, still set for weekly drop-September 10th,2022
Europe Roundup: Sterling recovers after BoE rate hike, European shares fall, Gold steadies, Oil rises on rebounding Chinese demand, geopolitical risks-September 22nd,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
America’s Roundup: Dollar scales fresh two-decade peak, Wall Street ends lower, Gold hovers near 2-1/2-year low, Oil prices slide $2/bbl, settle at 9-month lows-September 27th,2022
Europe Roundup: Sterling gains against the dollar, European shares dips, Gold ticks up, Oil prices stabilise on IEA demand outlook-September 14th,2022
America’s Roundup: Dollar declines against yen as Japan intervenes to stop yen slide, Wall Street ends down, Oil edges higher on Russian supply concerns in volatile trade-September 23rd,2022
America’s Roundup: U.S. dollar pauses record gains as UK pound stabilizes, Wall Street ends sharply higher, Gold up around 2%, Oil prices jump after U.S. crude, fuel stocks drop-September 29th,2022
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 little changed , Wall Street ends mixed, Gold bounces from 2-1/2-year low, Oil rallies from Monday's nine-month lows-September 28th,2022
Europe Roundup: Euro gains as dollar dips ahead of US CPI data, European shares rise, Gold holds steady, Oil prices climb on concerns over tight supplies-September 13th,2022
America’s Roundup: Dollar rises after unexpected rise in U.S. consumer prices, Wall Street tumbles, Gold dips, Oil dips nearly 1%, reversing earlier gains-September 14th,2022
Europe Roundup: Euro falls after inflation data, European shares rise,Gold gains, Oil set for weekly gain as OPEC+ considers output cut-September 30th,2022
America’s Roundup: Dollar falls ahead of Fed meeting,Wall Street closes on mixed note,Gold dips, Oil rises as Russian gas cut to Europe may encourage switching to crude-July 26th,2022
•US Jun Chicago Fed National Activity-0.19, 0.01 previous
•French 3-Month BTF Auction 0.002%,-0.272% previous
•French 6-Month BTF Auction 0.186%,0.076% previous
•French 12-Month BTF Auction 0.457%,0.545% previous
•Jul Belgium NBB Business Climate -2.8, -1.5 forecast,-1.8 previous
•US Jul Dallas Fed Mfg Business Index -22.6, -17.7 previous
•US 3-Month Bill Auction2.520%,2.470% previous
•US 6-Month Bill Auction 2.920%, 2.910% previous
•US 2-Year Note Auction 3.015%,2.060% previous
Looking Ahead - Economic Data (GMT)
• 05:00 Japan BoJ Core CPI (YoY) 1.5% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro strengthened on Monday as risk appetite returned to currency markets and investors weighed up the possible impact of an expected U.S. rate hike this week. The biggest factor influencing market moment this week is the anticipation of the Fed meeting, with U.S. second-quarter GDP numbers on Thursday also likely to be a significant driver .The U.S. Federal Reserve has signalled a 75 basis-point rate hike at its July 26-27 meeting, although data last week showing inflation hit 9.1% year-on-year in June raised the possibility of a larger 100 bps hike later this year. The euro was up 0.1% at $1.02195. Immediate resistance can be seen at 1.0256(38.2%fib), an upside break can trigger rise towards 1.0328(30DMA).On the downside, immediate support is seen at 1.0132(14DMA), a break below could take the pair towards 1.0081(23.6%fib).
GBP/USD: The pound strengthened against the dollar on Monday as riskier currencies like pound gained before a widely expected U.S. interest rate hike this week. Investors widely expect the Fed to raise interest rates by another 75 bps when it concludes a two-day policy meeting on Wednesday. Britain's businesses grew at their slowest pace in 17 months in July and inflation pressures eased, according to an industry survey last week. Although consumer spending and businesses are struggling, the Bank of England is widely expected to raise interest rates by 50 bps at a policy meeting on Aug. 4. Immediate resistance can be seen at 1.2188(38.2%fib), an upside break can trigger rise towards 1.2219(38.2%fib).On the downside, immediate support is seen at 1.1990(5DMA), a break below could take the pair towards 1.1958(23.6%fib).
USD/CAD: The Canadian dollar strengthened against the greenback on a surge in oil prices and weaker greenback boosted Canadian dollar. Oil prices rose investors seesawed between supply fears and bets rising U.S. interest rates could weaken demand. U.S. crude settled up 2.11% at $96.70 per barrel and Brent finished at $105.15, up 1.9% on the day. The Canadian dollar was last trading 0.1% higher at 1.2822 to the greenback .Immediate resistance can be seen at 1.2903 (38.2%fib), an upside break can trigger rise towards 1.2939(21DMA).On the downside, immediate support is seen at 1.2821 (50%fib), a break below could take the pair towards 1.2736(61.8%fib).
USD/JPY: The dollar dipped against the Japanese yen on Monday as investors weighed the implications of a rate hike by the U.S. Federal Reserve in an economy that may be on the verge of a recession. The central bank is widely expected to raise interest rates by 75 basis points at the conclusion of its policy meeting on Wednesday. A hike of that magnitude would effectively close out pandemic-era support for the economy . Recent data has shown signs of an economic slowdown while inflation remains stubbornly high, with claims for jobless benefits rising to its highest in eight months last week and regional manufacturing gauges slumping.Strong resistance can be seen at 136.77 (21DMA), an upside break can trigger rise towards 137.46(23.6%fib).On the downside, immediate support is seen at 135.54 (38.2%fib), a break below could take the pair towards 135.00 (Psychological level).
European stocks turned in a mixed performance on Monday with investors digesting a slew of earnings announcements and the latest batch of economic data, and looking ahead to the Federal Reserve's monetary policy announcement, due on Wednesday.
The UK's benchmark FTSE 100 closed up by 0.41 percent, Germany's Dax ended down by 0.33 percent, and France’s CAC finished the up by 0.33 percent.
The S&P 500 see-sawed on Monday and ended close to unchanged as investors girded for an expected rate hike at a Federal Reserve meeting this week and earnings from several large-cap growth companies..
Dow Jones closed up by 0.28 percent, S&P 500 ended up 0.13 percent, Nasdaq finished the day down by 0.43 percent.
U.S. Treasury yields edged slightly higher on Monday as investors awaited the Federal Reserve's likely 75 basis point interest rate increase later this week amid growing concerns about an economic slowdown and the potential for recession.
The two-year Treasury yield rose 3.8 basis points to 3.029%, while the yield on the 10-year note was up 6.1 basis points at 2.842%.
Oil rose on Monday on expectations Russia’s reduction in natural gas supply to Europe could encourage a switch to crude, though concerns over weakening fuel demand because of an expected increase in U.S. interest rates limited gains.
Brent crude futures for September settlement climbed 45 cents, or 0.4%, to $105.60 a barrel by 0112 GMT, following a 1.9% gain in the previous day.
U.S. West Texas Intermediate (WTI) crude futures for September delivery increased 34 cents, or 0.4%, to $97.04 a barrel, having gained 2.1% on Monday.
Gold prices gave up initial gains to slip on Monday as U.S. Treasury yields edged back up, while investors positioned themselves for an expected 75-basis-point interest rate hike by the Federal Reserve later this week.
Spot gold was down 0.4% to $1,719.49 per ounce by 1:46 p.m. ET (1746 GMT). U.S. gold futures settled 0.5% lower at $1,719.10.
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