America’s Roundup: Dollar hits seven-week high, Wall Street ends sharply higher, Gold slips, Oil settles up $2 on optimism about US debt ceiling, demand-May 18th,2023
America’s Roundup: Dollar gains on resilient U.S. economy, flight to safety, Wall Street ends down, Gold dips ,Oil prices gain 2% on falling U.S. stockpiles, Saudi warning-May 25th,2023
Europe Roundup: Sterling falls against dollar after Bailey speech, European shares slip, Gold stalls, Oil steady as demand worries face tight supply outlook-May 17th,2023
America’s Roundup: US dollar drops after Fed's Powell hints at June pause , Wall Street slips, Gold gains, Oil slips as debt talks pause, Fed warns of high inflation
Europe Roundup: Pound gains after British jobs data, European shares steady, Gold slips,Oil steadies as IEA turns more bullish on oil demand
Europe Roundup: Sterling gains against dollar, European shares rise, Gold bounces, Oil broadly steady amid OPEC+ supply cut uncertainty, demand worries
America’s Roundup: Dollar on pace for biggest weekly rise since February, Wall Street dips, Oil prices fall on stronger dollar, demand fears
Europe Roundup: Euro gains against dollar, European stocks muted , Gold edges higher,Oil steady as U.S. default risk offsets demand outlook-May 22nd -2023
Europe Roundup: Pound drops to one-month low ,European shares falls, Gold extends slide, Oil rises on supply outlook, Saudi speculator warning
Europe Roundup: Euro edges lower against dollar, European shares mixed, Gold trades in tight range, Oil steady after U.S. debt deal but rate hike worries linger-May 29th,2023
America’s Roundup: Dollar gains against yen as Fed policy, debt ceiling in focus, Wall Street ends mixed, Gold dips, Oil rises 1% as supplies shrink, demand seen higher-May 23rd,2023
America’s Roundup : Dollar hits two-month high, Wall Street ends mixed, Gold hits 2-month low, Oil settles lower as Russia downplays additional OPEC+ cuts-May 26th,2023
America’s Roundup: US dollar retreats from five-week high,Wall Street advance, Gold gains, Oil gains over 1%, ends losing streak on tightening supplies-May 16th,2023
America’s Roundup: U.S. dollar hit two-month high on strong economic news, Wall Street ends ,Gold slides, Oil prices settle down 1%; strong US data boosts dollar-May 19th.2023
Europe Roundup: Sterling gains against dollar ahead of UK jobs data,European stocks rise, Gold ticks up, Oil prices rise as tight supplies compete with economic concerns-May 15th,2023
Europe Roundup: Sterling falls to three-week low against dollar , European shares rise , Gold drops ,Oil prices ease as all eyes on US debt ceiling talks
America’s Roundup: Dollar gains ahead of inflation data, euro falls after ECB, Wall Street ends lower, Gold falls,Oil slips on China lockdowns, but bullish trends intact-June 10th,2022
• US Initial Jobless Claims 229K,210K forecast,200K previous
• US Continuing Jobless Claims 1,306K,1,305K forecast,1,309K previous
• US Jobless Claims 4-Week Avg 215.00K,206.50K previous
• US Natural Gas Storage 97B, 96B forecast, 90B previous
• US 8-Week Bill Auction 1.150%,1.040% previous
• US 4-Week Bill Auction 1.040%,0.860% previous
Looking Ahead Economic Data(GMT)
•01:15 China May PPI (YoY) 6.4% forecast,8.0% previous
•01:15 China May CPI (YoY) 2.2% forecast, 2.1% previous
•01:15 China May CPI (MoM) -0.3% forecast,0.4% previous
Looking Ahead - Events, Other Releases (GMT)
•No data ahead
EUR/USD: The euro declined against dollar on Thursday after the European Central Bank prepared to hike interest rates next month for the first time since 2011 and as pending inflation data spooked investors. While the ECB decision was widely expected, the possibility of a larger hike from September weighed on sentiment as the euro zone economy grapples with slowing growth and soaring inflation. For months, markets have focused on how fast central banks have been moving to curb inflation. Investors now expect the Federal Reserve to hike rates by 50 basis points next week, especially if U.S. CPI data confirms an elevated inflation reading. Immediate resistance can be seen at 1.0673(38.2%fib),an upside break can trigger rise towards 1.0705(11DMA).On the downside, immediate support is seen at 1.0560(23.6%fib), a break below could take the pair towards 1.0483(Lower BB).
GBP/USD: Sterling fell against dollar on Thursday after the European Central Bank signalled it will hike euro zone interest rates next month for the first time in a decade. Markets have been anticipating the ECB's decision for weeks, and the prospect of a greater rate hike in September impacted sentiment at a time when the euro zone economy is struggling with slowing growth and rising inflation. The focus now shifts to U.S. inflation data due on Friday, with the Federal Reserve expected to continue with a 50 basis point rate increases at its meeting next week and again in July. Immediate resistance can be seen at 1.2509(21DMA),an upside break can trigger rise towards 1.2599(38.2%fib).On the downside, immediate support is seen at 1.2431(23.6%fib), a break below could take the pair towards 1.2364(Lower BB).
USD/CAD: The Canadian dollar fell to a 10-day low against its broadly stronger U.S. counterpart on Thursday, as equity markets slid ahead of key data and despite the Bank of Canada leaving the door open to a three-quarter-percentage-point interest rate hike. Wall Street's main indexes fell and the U.S. dollar rallied against a basket of major currencies as investors braced for a U.S. inflation report on Friday that could help determine the pace of Federal Reserve interest rate hikes. The Canadian dollar was trading 1.1% lower at 1.2695 to the greenback , after touching its weakest since May 30 at 1.2698. It was the currency's biggest decline since August last year. Immediate resistance can be seen at 1.2727 (5DMA), an upside break can trigger rise towards 1.2753 (23.6%fib).On the downside, immediate support is seen at 1.2686 (38.2%fib), a break below could take the pair towards 1.2636 (50%fib).
USD/JPY: The dollar strengthened on Thursday as investors were cautious ahead of data on Friday that is expected to show consumer prices remained elevated in May. The data is expected to show that consumer prices rose 0.7% in May, while the core consumer price index (CPI), which excludes the volatile food and energy sectors, rose 0.5% in the month. Higher-than-expected inflation readings could increase fears that the U.S. Federal Reserve will raise interest rates more aggressively than previously expected. The central bank has raised its short-term interest rate by three-quarters of a percentage point this year and intends to keep at it with 50 basis points increases at its meeting next week and again in July. Strong resistance can be seen at 134.34 (Daily high), an upside break can trigger rise towards 135.00(Psychological level).On the downside, immediate support is seen at 133.16 (38.2%fib), a break below could take the pair towards 132.11(50%fib).
European stocks closed lower on Thursday, extending recent slide, as the European Central Bank (ECB) confirmed its intention to hike interest rates at its policy meeting next month and downgraded its growth forecasts.
UK's benchmark FTSE 100 closed down by 1.54 percent, Germany's Dax ended down by 1.71 percent, France’s CAC finished the day down by 1.40 percent.
U.S. stocks slid sharply Thursday as investor anxiety heightened ahead of data on Friday that is expected to show consumer prices remained elevated in May..
Dow Jones closed down by 1.94%percent, S&P 500 closed down by 2.38% percent, Nasdaq settled down by 2.75 % percent.
U.S. Treasury yields rose on Thursday after the European Central Bank (ECB) signaled a series of upcoming interest rate hikes and before highly anticipated U.S. inflation data due on Friday.
Two-year yields , which are highly sensitive to interest rate moves, got as high as 2.842% and benchmark 10-year note yields reached 3.073%, both the highest since May 11.
Gold prices fell on Thursday as elevated U.S. Treasury yields and a firm dollar dimmed bullion’s appeal in the run-up to U.S. inflation data that could strengthen the case for aggressive policy tightening by the Federal Reserve.
Spot gold was down 0.3% at $1,848.49 per ounce by 1:57 p.m. EDT (1757 GMT), while U.S. gold futures fell 0.2% to $1,852.80.
Oil prices dipped on Thursday but still hovered near three-month highs after parts of Shanghai imposed new COVID-19 lockdown measures, as strong gains in refined products contributed to an ongoing bullish backdrop for crude oil.
Brent crude futures for August settled down 51 cents at $123.07 a barrel, a 0.4% decline, while U.S. West Texas Intermediate crude for July lost 60 cents, or 0.5%, to $121.51 a barrel.