America’s Roundup: Dollar pares gains as some Fed officials show caution on growth,Wall Street ends down, Gold trims losses , Oil edges off low as strong export demand drains U.S. crude stocks-August 18th,2022
Europe Roundup: Sterling slips as BoE delivers big rate hike but warns of long recession,European shares gains, Gold gains over 1%, Oil prices stabilize after drop to near 6-month low-August 4th,2022
America’s Roundup: Dollar jumps vs yen as Fed officials hint more rate hikes coming, Wall Street dips, Gold near 1-month high, Oil edges up ahead of OPEC meeting despite recession worries-August 3rd,2022
Europe Roundup: Sterling edges higher, rate hike outlook remains in focus , European shares edge lower, Gold consolidates, Oil slips amid chance of Iran nuclear deal supply boost-August 9th,2022
Europe Roundup: Euro slip to one-month low on renewed growth fears, European equities fall, Gold slips, Oil prices slip, headed for weekly loss as recession concerns bite-August 19th,2022
Europe Roundup: Sterling edges lower after hot UK inflation data , European shares slide, Gold edges lower, Oil slips to six-month low as recession fears weigh-August 17th,2022
Europe Roundup: Sterling struggles as inflation outlook worsens sentiment, European shares gains, Gold near two-week low, Oil prices ease as Russia output increases-August 18th,2022
America’s Roundup: Dollar slides as mixed U.S. data highlights uncertain path , Wall Street ends higher, Gold gains, Oil up over $2 per barrel as hopes fade for OPEC+ supply boost-July 30th,2022
America’s Roundup:U.S. dollar index gains, Wall Street indexes close up, Gold gains, Oil prices sheds 2% a barrel-August 13th,2022
Europe Roundup: Euro notch up on US inflation data,European shares little changed, Gold subdued,Oil rises as IEA hikes 2022 demand growth forecast-August 11th,2022
Europe Roundup: Euro gains ahead of key U.S. inflation data, European shares dips, Gold flat, Oil drops on Druzhba pipeline news and U.S. inflation expectations-August 10th,2022
America’s Roundup: Dollar edges down, Wall Street ends mixed , Gold gains, Oil prices hit lowest level since the invasion of Ukraine on recession fears-August 5th,2022
America’s Roundup: Dollar eases as investors await inflation data for Fed clues, US stocks flat, Gold gains, Oil up nearly 2%, off multi-months low-August 9th,2022
Europe Roundup: Sterling loses steam as traders turn to safe-haven currencies, European shares dips, Gold steadies, Oil slips as global demand concerns weigh, OPEC+ meeting eyed-August 2nd,2022
America’s Roundup: Dollar gains as Fed officials lean hawkish , Wall Street ends higher, Gold ticks lower, Oil up 3% on robust U.S. fuel consumption, tight supply outlook-August 19th,2022
Europe Roundup: Sterling edges higher ahead of Thursday's BoE decision , European shares inch higher, Gold rebounds, Oil prices dip ahead of OPEC+ meeting-August 3rd,2022
America’s Roundup: Dollar gains as U.S. stocks fall, ECB decision on tap, Wall Street falls, Gold ticks up,Oil hovers near 13-week high on robust U.S. demand, China optimism-June 9th,2022
•US Apr Wholesale Trade Sales (MoM) 0.7%,1.7% previous
•US Wholesale Inventories (MoM) 22.2%,1% previous
•US Gasoline Inventories -0.812M,1.075M forecast,-0.711M previous
• US Cushing Crude Oil Inventories-1.593M,0.256M previous
• US Crude Oil Inventories -1.917M forecast,-5.068M previous
Looking Ahead Economic Data
• 03:00 China Trade Balance (USD) 58.00B forecast, 51.12B previous
• 03:00 China May Imports (YoY) 2.0% previous
• 03:00 China May Exports (YoY)8.0% forecast, 3.9% previous
• 08:00 China New Loan 1,275.0B forecast,645.4B previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro steadied against dollar on Wednesday as investors focused on the European Central Bank's meeting on Thursday and U.S. CPI data on Friday. Investors raised their bets on ECB rate hikes, and as European markets opened, money markets were pricing in 75 basis points of rate hikes by September. With the bank largely expected to start hikes in July and move in 25 basis-point increments, the pricing implies traders now expect its hikes to include a rare 50 basis-point move at a single meeting by September. Immediate resistance can be seen at 1.2761(38.2%fib),an upside break can trigger rise towards 1.2844(50%fib).On the downside, immediate support is seen at 1.2649(23.6%fib), a break below could take the pair towards 1.2557(23rd May low).
GBP/USD: Sterling fell on Wednesday, staying close to a near three-week low touched this week against the U.S. dollar, amid investor nervousness about a confidence vote on British Prime Minister Boris Johnson that left him politically vulnerable. Heightened political uncertainty has added further pressure on sterling, which has declined more than 7% this year, weighed down by Britain's dismal growth outlook. The British currency fell 0.5% against a strengthening U.S. dollar to $1.2528 at 0840 GMT after touching its lowest level since May 19 at $1.2433 on Tuesday. Immediate resistance can be seen at 1.2556(9DMA),an upside break can trigger rise towards 1.2630(38.2%fib).On the downside, immediate support is seen at 1.2521(23.6%fib A), a break below could take the pair towards 1.2446(June 7th low).
USD/CAD: The Canadian dollar weakened against its U.S. counterpart on Wednesday, pulling back from its strongest level in nearly seven weeks, as risk appetite wavered ahead of key macro events over the coming days. The price of oil , one of Canada's major exports, was up nearly 3% at $122.96 a barrel, supported by rising U.S. demand for gasoline despite record pump prices.The loonie was trading 0.2% lower at 1.2550 to the greenback, or 79.68 U.S. cents, after earlier touching its strongest since April 21 at 1.2518. Immediate resistance can be seen at 1.2569 (5DMA), an upside break can trigger rise towards 1.2618(38.2%fib).On the downside, immediate support is seen at 1.2518 (23.6%fib), a break below could take the pair towards 1.2472 (Lower BB).
USD/JPY: The dollar strengthened on Wednesday as U.S. equities fell and boosted the appeal of the greenback. The greenback reached a fresh two-decade high against the yen, which weakened to hit 134.47 per dollar, its softest since Feb. 27, 2002, and the euro achieved its highest level against the safe-haven yen since Jan. 5, 2015. The Bank of Japan remains one of the few global central banks to maintain a dovish stance while others have adopted tightening policies of hiking interest rates to combat inflation. Strong resistance can be seen at 134.22 (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 shares fell on Wednesday with concerns around economic growth slowdown and a gloomy forecast by Credit Suisse weighing on banks, while investors braced for the European Central Bank's meeting on Thursday and the U.S. Federal Reserve's next week.
UK's benchmark FTSE 100 closed down by 0.08 percent, Germany's Dax ended down by 0.76 percent, France’s CAC finished the day down by 0.80 percent.
U.S. stocks fell on Wednesday as Treasury yields rose above the psychologically important 3% level and oil prices jumped, fanning worries about inflation and the outlook for interest rates.
Dow Jones closed down by 0.81% percent, S&P 500 closed down by 1.08% percent, Nasdaq settled down by 0.73 % percent.
Treasury yields rose on Wednesday after the U.S. Treasury Department saw tepid demand for a sale of 10-year notes, and as investors waited on highly anticipated inflation data on Friday.
Benchmark 10-year yields gained 6 basis points to 3.029%. Two-year yields rose 4 basis points to 2.774%.
Gold inched up in choppy trade on Wednesday as concerns over economic growth boosted the metal’s safe-haven appeal ahead of U.S. inflation data that could guide the Federal Reserve’s rate hike timeline.
Spot gold rose 0.1% to $1,853.82 per ounce by 2:29 p.m. EDT (1829 GMT). U.S. gold futures settled up 0.2% at $1,856.50.
Oil prices held near 13-week highs on Thursday, underpinned by robust demand in the world's top consumer United States while demand is expected to rebound in China as COVID-19 curbs across major cities are relaxed.
Brent crude futures for August nudged up 12 cents to $123.70 a barrel by 0033 GMT, while U.S. West Texas Intermediate crude for July was at $122.17 a barrel, up 6 cents.