America’s Roundup: Dollar jumps on Powell renomination, Wall Street retreats, Gold slides over 2%-November 23rd,2021
America’s Roundup: Dollar slips below 16-month highs as trade winds down for Thanksgiving, Wall Street ends higher, Gold edges up, Oil dips, focus on OPEC+ response to U.S.-led oil release-November 26th,2021
America’s Roundup: Dollar dips against yen on Omicron fears, Fed policy uncertainty, Wall Street ends lower, Gold rises, Oil steadies, paring gains as rising COVID cases spur demand worries-December 4th,2021
Europe Roundup: Sterling edges up amid expectations of BoE tightening in February , European shares hit over 1-week highs, Gold flat, Oil prices climb on easing Omicron fears, Iran delay-December 7th,2021
America’s Roundup: Dollar up against safe havens as risk sentiment improves on Omicron news, Wall Street ends higher, Oil settles sharply higher-December 7th,2021
Europe Roundup: Sterling slips against dollar as traders weigh EU restrictions impact Gold dips, European shares skid to 3-week lows ,Oil slips on US plans to tap emergency crude reserves-November 23rd,2021
America’s Roundup: Dollar hovers close to one-week high, Wall Street closes higher, Gold edges higher, Oil rises 3%, extending rally as Omicron fears retreat-December 8th,2021
America’s Roundup: U.S. dollar gains as Omicron worries ebbs, Wall Street rebounds, Gold eases, Oil pares gains, but ends higher after Friday slump-November 30th,2021
Europe Roundup: Sterling consolidates above 1.3300 as central bank eyed, European shares gain, Gold gains, Oil climbs over 2% ahead of OPEC meeting amid Omicron concerns-December 1st,2021
America’s Roundup: Dollar dips on new coronavirus variant fear, Wall Street ends lower,Gold heads for worst week since mid-Jun, Oil settles down $10/bbl in largest daily drop since April 2020-November 27th,2021
America’s Roundup; Dollar dips against Japanese yen on fresh Omicron worries after vaccine warning, Wall Street ends lower, Gold retreats, Oil slumps on Omicron fears-December 1st,2021
Europe Roundup: Sterling sinks below $1.33 for first time in 2021, European stocks fall,Gold jumps ,Oil tumble on virus variant fears-November 26th,2021
Europe Roundup: Euro rises as dollar eases, investors weigh Omicron impact , European stocks tumble, Gold gains, Oil falls 3% on jitters over vaccine efficacy-30th November,2021
Europe Roundup: Sterling edged higher against dollar, European shares gain, Gold eases, Oil rebounds by more than US$1 after Saudi price hike-December 6th,2021
Europe Roundup: Euro edges up as investors shrug off a more hawkish Fed, European shares rise, Gold steadies, Oil slips-November 25th,2021
Europe Roundup: Sterling nears 2021 lows before U.S. data, European shares dips, Gold gains, Oil edge lower as investors try to assess Omicron's full impact-December 8th,2021
America’s Roundup: Dollar gains as energy price surge drives inflation worries , Wall Street rises, Gold firms ,Oil retreats from multi-year highs after U.S. stock build-October 7th,2021
•US Sep ADP Nonfarm Employment Change 568K,428K forecast, 374K previous
•14:30 US Gasoline Inventories 3.256M, -0.279M forecast, 0.193M previous
•14:30 US Crude Oil Inventories 2.346M, -0.418M forecast, 4.578M previous
Looking Ahead Economic Data (GMT)
• 23:50 Japan Sep Foreign Reserves (USD) 1,424.3B previous
• 23:50 Japan Foreign Bonds Buying 440.3B previous
• 23:50 Japan Foreign Investments in Japanese Stocks -229.4B previous
• 05:00 Japan Leading Index 104.1 previous
• 05:00 Japan Aug Coincident Indicator (MoM) -0.2% previous
• 05:00 Japan Aug Leading Index (MoM) -0.1% previous
Looking Ahead - Events, Other Releases (GMT)
• 01:00 Japan BoJ Governor Kuroda Speaks
EUR/USD: The euro declined against dollar on Wednesday after data showed German industrial orders fell more than expected in August. The figures published by the Federal Statistics Office showed orders for goods 'Made in Germany' were down by 7.7% on the month in seasonally adjusted terms. A poll of analysts had pointed to a drop of 2.1% on the month. Immediate resistance can be seen at 1.1562 (38.2%fib), an upside break can trigger rise towards 1.1593(50%fib).On the downside, immediate support is seen at 1.1529(Lower BB), a break below could take the pair towards 1.1500 (Psychological level).
GBP/USD: The British pound declined against the dollar on Wednesday as soaring energy prices and a surge in bond yields hit the pound. Soaring energy prices encouraged investors into the dollar, pushing it close to the one-year high touched last week against a basket of currencies. That knocked sterling 0.4% lower to $1.3565, though it stayed away from the lows hit last week. The prospect of imminent rate hikes, signalled by the Bank of England, was not enough to support sterling Immediate resistance can be seen at 1.3625(50%fib),an upside break can trigger rise towards 1.3687(61.8%fib).On the downside, immediate support is seen at 1.3552(38.2%fib), a break below could take the pair towards 1.3469(23.6%fib).
USD/CAD: The Canadian dollar weakened against the greenback on Wednesday as fears that soaring energy prices would boost inflation contributed to a selloff in global equity markets, with the loonie pulling back from a four-week high hit the day before. Shares fell globally and the safe-haven U.S. dollar rose against a basket of major currencies as oil prices hit their highest in seven years, fuelling concerns about rising inflation. Investors fear that accelerating inflation could force central banks to tighten policy sooner than expected.The loonie was trading 0.2% lower at 1.2610 to the greenback, after trading in a range of 1.2576 to 1.2647.Immediate resistance can be seen at 1.2621 (38.2%fib), an upside break can trigger rise towards 1.2639(11DMA).On the downside, immediate support is seen at 1.2578 (50%fib), a break below could take the pair towards 1.2530 (61.8%fib).
USD/JPY: The dollar edged higher against yen on Wednesday as surging energy prices fuelled concerns about inflation and interest rate hikes, increasing investors' appetite for dollar . Rising inflationary pressures could pose headwinds to growth and have implications for how soon the Federal reserve can raise interest rates. The U.S. payrolls report at the end of the week, which could provide clues to the U.S. Federal Reserve's next move, remains a point of focus for investors. The U.S. dollar currency index , which measures the greenback against a basket of six currencies, was 0.3% higher at 94.228. The index hit a 1-year high of 94.504 last week. Strong resistance can be seen at 111.75(23.6%fib), an upside break can trigger rise towards 111.93(Higher BB).On the downside, immediate support is seen at 111.17(38.2%fib), a break below could take the pair towards 111.03(11DMA).
Automakers, retail and travel shares fell more than 2.5% on Wednesday, leading declines across all major sectors in Europe as soaring oil and gas prices intensified concerns inflation will dent economic growth.
UK's benchmark FTSE 100 closed down by 1.15 percent, Germany's Dax ended down by 1.46 percent, France’s CAC finished the day down by 1.27 percent.
U.S. stock indexes rose on Wednesday, turning positive after early losses as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.
Dow Jones closed up by 0.30% percent, S&P 500 closed up by 0.41 % percent, Nasdaq settled up by 0.47% percent.
Yields on the shortest end of the U.S. Treasury curve tumbled on Wednesday after the Senate's top Republican said his party would support an extension of the federal debt ceiling into December, a move that would avert a historic default later this month.
The benchmark 10-year yield, which earlier hit a session high of 1.573%, was last down 1 basis point at 1.5206% after retreating from June highs along with yields on 20-year and 30-year bonds.
Gold ticked up in tight trading on Wednesday on a retreat in U.S. Treasury yields, although a stronger dollar put a lid on gains for the safe-haven metal, with investors awaiting U.S. labour market data due later this week.
Spot gold was up 0.1% at $1,760.78 per ounce by 1:38 p.m. EDT (1738 GMT), reversing from an earlier session low of $1,744.84. U.S. gold futures settled up 0.1% at $1,761.8.
Oil prices dropped nearly 2% on Wednesday, pulling back from multi-year highs, as an unexpected rise in U.S. crude inventories prompted buyers to take a breather after recent torrid gains.
Brent crude hit $83.47 a barrel, its highest since October 2018, but settled at $81.08, down $1.48 a barrel, or 1.8%. U.S. crude climbed to $79.78, highest since November 2014, before retreating to $77.43 for a daily decline of $1.50 or 1.9%.