America’s Roundup: Dollar softens after ADP data, Wall Street ends mixed,Gold little changed, Oil steadies, OPEC+ sticks to gradual output hikes-September 2nd,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
America’s Roundup: Dollar dips on weak U.S. jobs growth, Wall Street mixed, Gold climbs, Oil slips as COVID variant weighs on U.S. jobs-September 4th,2021
America’s Roundup: Dollar index climbs after U.S. retail sales show surprise rebound ,Wall Street slips, Gold slides, Oil prices steady as U.S. storm threat wanes-September 17th,2021
America’s Roundup: Dollar little changed as US jobs data report looms ,Wall Street ends lower ,Gold rises, Oil settles down 1% as U.S. refineries shut; Washington pushes OPEC to pump more-September 1st,2021
Europe Roundup: Euro near 1-month peak versus dollar , European stocks edge higher, Gold firms, Oil rises on declining inventories and weaker dollar-September 2nd,2021
America’s Roundup: Dollar skids as soft U.S. inflation weighs, Wall Street ends higher, Gold retreats, Oil prices jump over $2/bbl after drawdown in U.S. stocks-September 16th,2021
Europe Roundup: Euro steadies against dollar as investors eye German inflation data, European stocks gains, Gold prices ease, Oil drops as Hurricane Ida weakens, OPEC in focus-August 30th,2021
America’s Roundup: Dollar gains after hitting near two-week low, Wall Street ends mixed, Gold dips, Oil settles up as U.S. producers, refiners assess storm damage-August 31st,2021
America’s Roundup: Dollar brushes aside jobs report losses, Gold eases, Oil falls after Saudi price cuts-September 7th,2021
America’s Roundup: U.S. dollar strengthens against rivals as Fed's taper talk gathers pace, Wall Street ends mixed, Gold gains, Oil rises to six-week high as U.S. supply concerns dominate-September 14th,2021
Europe Roundup: Sterling steadies against dollar, European stocks gain, Gold little changed, Oil price climbs before OPEC+ policy meeting-September 1st,2021
America’s Roundup: Dollar eases ahead US payrolls data, Wall Street ends higher, Gold eases,Oil rises on economic recovery hopes, weaker dollar-September 3rd,2021
Europe Roundup: Sterling edges up after UK inflation jump, European stocks slip, Gold eases, Oil prices climb after drawdown in U.S. stocks-September 15th,2021
Europe Roundup; Sterling steadies near 5-week highs against dollar, European shares dips,Gold little changed, Oil hits 6-week high as U.S. Gulf braces for another hurricane-September 14th,2021
Europe Roundup: Euro inches higher against dollar ahead of Powell's speech,European stocks dips,Gold consolidates, Oil rises as storm approaches Gulf of Mexico production hub-August 27th,2021
America’s Roundup: Dollar falls as Fed's Chairman Powell maintains dovish message, Wall Street ends mixed, Gold gains, Oil dips 2% on oversupply fears after OPEC negotiates a deal-July 15th,2021
• Canada May Manufacturing Sales (MoM) -0.6%,1.0% forecast, -2.1% previous
• US June Core PPI (MoM) 1.0%,0.5% forecast, 0.7% previous
•US Jun PPI (YoY) 7.3%,6.8% forecast, 6.6% previous
•US Jun PPI (MoM) 1.0%,0.6% forecast, 0.8% previous
•Canada BoC Interest Rate Decision 0.25%, 0.25% forecast, 0.25% previous
•US Gasoline Inventories 1.039M, -1.786M forecast, -6.076M previous
•US Crude Oil Inventories -7.897M, -4.359M forecast, -6.866M previous
Looking Ahead –Economic Data (GMT)
• 01:00 Australia MI Inflation Expectations 4.4% previous
• 01:30 Australia June Employment Change 30.0K forecast, 115.2K previous
• 01:30 Australia June Unemployment Rate 5.0% forecast, 5.1% previous
• 01:30 Australia June Full Employment 97.5K previous
• 01:30 Australia June Participation Rate 66.3% forecast, 66.2% previous
• 2;00 China June Industrial Production (YoY) 7.8% forecast, 8.8% previous
• 2;00 China June Fixed Asset Investment (YoY) 12.1% forecast, 15.4% previous
• 2;00 China June Chinese Industrial Production YTD (YoY) 17.8% previous
• 2;00 China GDP (YoY) (Q2) 8.1% forecast, 18.3% previous
• 2;00 China Unemployment Rate 5.2% previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro strengthened against dollar on Wednesday after U.S. Federal Reserve Chair Jerome Powell reassured the market again that an inflation spike will be transitory. Powell reiterated in prepared congressional testimony that inflation will remain anchored around the Fed’s 2% target and the U.S. economy was “still a ways off” from levels the Fed wanted to see before tapering its stimulus support. The dollar index, which tracks the greenback versus a basket of six currencies, fell 0.422% to 92.382. The euro was up 0.48% at $1.1831. Immediate resistance can be seen at 1.1871 (38.2%fib), an upside break can trigger rise towards 1.1896 (21 DMA).On the downside, immediate support is seen at 1.1796 (23.6%fib), a break below could take the pair towards 1.1764(Lower BB)
GBP/USD: Sterling climbed against the dollar on Wednesday as UK inflation rose more than expected to its highest in almost three years, putting the focus of the Bank of England's plan to keep its huge stimulus programme in place. Inflation jumped in June further above the BoE's 2% target to hit 2.5%, its highest since August 2018. Higher prices for food, fuel and used cars as the economy bounced back from its lockdown slump were among the drivers. By 20:05 GMT, the pound was up 0.01% at $1.3859 . Immediate resistance can be seen at 1.3867 (50% fib), an upside break can trigger rise towards 1.3930 (61.8%fib).On the downside, immediate support is seen at 1.3793 (38.2%fib), a break below could take the pair towards 1.3737 (Lower BB).
USD/CAD: The Canadian dollar was little changed against its U.S. counterpart on Wednesday as the Bank of Canada reduced the scope of its bond-buying program but held its key interest rates at a record low. The loonie cut its gains against the U.S. dollar following the Bank of Canada's announcement. The bank also warned that inflation would be higher than previously forecast over the near term. The bank cut its weekly net purchases of Canadian government bonds to a target of C$2 billion from C$3 billion. In late trading, the Canadian dollar was nearly unchanged at 1.2510 to the greenback .Immediate resistance can be seen at 1.2575 (23.6%fib), an upside break can trigger rise towards 1.2598(Higher BB).On the downside, immediate support is seen at 1.2504 (38.2%fib), a break below could take the pair towards 1.2453 (10DMA).
USD/JPY: The dollar edged lower against the Japanese yen Wednesday after Federal Reserve Chair Jerome Powell told Congress the U.S. economy was still a ways off from levels the central bank wanted to see before tapering its monetary support. His comments came as a report showed U.S. producer prices rose more than expected, posting their biggest annual increase in more than 10-1/2 years. A day earlier, data showed June U.S. inflation hit its highest in more than 13 year. Strong resistance can be seen at 110.18(38.2%fib), an upside break can trigger rise towards 110.37 (10DMA).On the downside, immediate support is seen at 109.69(23.6%fib), a break below could take the pair towards 109.48(Lower BB).
European stocks slipped from peaks on Wednesday, as the global mood soured on increasing concerns about inflation, while travel stocks dropped on worries about the Delta variant’s spread in the continent.
The UK's benchmark FTSE 100 closed down by 0.47 percent, Germany's Dax ended down by 0.01 percent, and France’s CAC finished the day down by 0.01 percent.
The S&P 500 ended with a gain after briefly hitting an intra-day record in a choppy session on Wednesday, as investors balanced worries about inflation with reassuring comments from Fed Chair Jerome Powell.
Dow Jones closed up by 0.13 percent, S&P 500 closed up 0.18 percent, Nasdaq closed down by 0.22 percent.
U.S. Treasury yields fell after Federal Reserve Chair Jerome Powell on Wednesday maintained his view that strong inflation will be temporary, even after data showed for the second day that price pressures rose more than expected in June.
Benchmark 10-year yields fell six basis points on Wednesday to 1.356%.The yield curve between two-year and 10-year notes flattened to 112 basis points.
Gold jumped on Wednesday after U.S. Federal Reserve Chair Jerome Powell reassured investors that the central bank would continue its accommodative monetary policy despite a spike in inflation readings.
Spot gold rose about 1% to $1,824.75 per ounce by 2:46 pm EDT. U.S. gold futures settled up 0.8% at $1,825.