America’s Roundup: U.S. dollar hits 20-year high as risk aversion dominates, Wall Street ends down, Gold extends decline ,Oil tumbles about 6% as China COVID lockdowns weigh-May 10th,2022
Europe Roundup: Pound falls as UK inflation hits 40 year high, European shares inch lower , Gold gains, Oil prices rise on China demand recovery expectations, supply concerns-May 18th,2022
America’s Roundup: Dollar dips to end trading week but set for weekly gain,Wall Street rallies, Gold falls, Oil jumps 4% as U.S. gasoline prices hit record high-May 14th,2022
Europe Roundup: Euro falls back towards 2017 lows on Russian energy crisis, European shares gain, Gold falls, Oil rises but set for weekly drop as fears of weaker demand limit gains-May 13th,2022
Europe Roundup: Euro gains as dollar dips ahead of U.S. inflation data, European shares gain, Gold recovers, Oil rises on looming EU Russian oil ban, gas disruption-May 11th,2022
Europe Roundup: Sterling strengthens against dollar after strong UK jobs data, European shares gain, Gold gains, Oil rises on EU's Russian oil ban effort, demand hopes-May 17th,2022
Europe Roundup: Euro jumps on ECB rate rise talk, European shares dips, Gold prices firm, Oil rises as supply concerns persist-May 6th, 2022
Europe Roundup: Euro set for 4.5% monthly drop, European shares gain, Gold firms, Oil extends gains as supply fears outweigh China lockdowns-April 29th,2022
America’s Roundup: Dollar slips from 2-decade highs, Wall Street ends mixed, Gold ticks up, Oil settles higher on demand optimism, gasoline strength-May 17th,2022
America’s Roundup: Dollar dips as Powell pushes back against 75 bp hike, Wall Street closes with sharp gains, Gold rises 1%, Oil jumps $5 a barrel as EU nears ban on Russian oil-May 5th,2022
America’s Roundup: Dollar gains as inflation jitters return, Wall Street ends sharply lower, Gold erases losses, Oil falls 2.5% as U.S. refiners ramp up output-May 19th,2022
America’s Roundup: Dollar slips ahead of Fed's policy decision, Wall Street ends higher, Gold prices gain, Oil slides as China lockdowns outweigh proposed EU Russia oil ban-May 4th,2022
America’s Roundup: Dollar index slips from 20-year high, Wall Street ends down, Gold gains, Oil gains 1.5%, posts another weekly rise on supply concerns-May 7th,2022
Europe Roundup: Sterling steadies near June 2020 low, European shares gains, Gold recovers, Oil drops as economic worries, strong dollar weigh-May 10th,2022
Europe Roundup: Sterling dips on worsening global risk sentiment, European shares slip ,Gold prices dips, Oil prices fall on China's weak economic data-May 16th,2022
America’s Roundup: Dollar higher in choppy trade as inflation data eyed, Wall Street ends mixed, Gold retreats, Oil settles below $100 a barrel on economic worries, strong dollar-May 11th,2022
America’s Roundup: Dollar gains as traders assess Fed rate hike bets Wall Street slips, Gold slips, Oil hit 7-year highs as tight supply bite-January 19th,2022
•Canada Dec Housing Starts 236.1K, 270.0K forecast, 301.3K previous
• US Jan NY Empire State Manufacturing Index -0.70, 25.70 forecast, 31.90 previous
• US NAHB Jan Housing Market Index 83,84 forecast, 84 previous
• US 3-Month Bill Auction 0.170%,0.120% previous
• US 6-Month Bill Auction 0.365%,0.275% previous
• US Nov Overall Net Capital Flow 223.90B,143.00B previous
• US Nov TIC Net Long-Term Transactions 137.4B, 7.1B previous
Looking Ahead - Economic Data (GMT)
•05:20 Japan Oct Trade Balance -784.1B forecast, -955.6B previous
•05:20 Japan Dec Imports (YoY) 42.8% forecast, 43.8% previous
•05:20 Japan Dec Exports (YoY) 16.0% forecast, 20.5% previous
•05:20 Japan Adjusted Trade Balance -0.49T previous
•06:00 Australia Dec Full Employment Change 128.3K previous
•06:00 Australia Dec Employment Change 43.3K forecast, 366.1K previous
•06:00 Australia Dec Unemployment Rate 4.5% forecast, 4.6% previous
•07:00 China PBoC Loan Prime Rate 3.80% previous
Looking Ahead - Economic events and other releases (GMT)
•No Significant events
EUR/USD: The euro dipped on Tuesday as investors prepared for possible faster U.S interest rate hikes after Treasury yields hit pre-pandemic highs. Investors leaned towards the Fed becoming more aggressive on rate hikes while the ECB remains accommodative. The turn in sentiment came after two-year U.S. Treasury yields, a bellwether for rate expectations, rose above 1% for the first time since February 2020.The U.S. Federal Reserve is not expected to change rates at its Jan. 25-26 meeting but a growing number of investors think March will be the start of a tightening cycle. Immediate resistance can be seen at 1.1350 (38.2% fib), an upside break can trigger rise towards 1.1389(23.6%fib).On the downside, immediate support is seen at 1.1321 (50% fib), a break below could take the pair towards 1.1286(61.8%fib).
GBP/USD: The British pound's declined on Tuesday as dollar rose as investors prepared for possible faster U.S interest rate hikes after Treasury yields hit pre-pandemic highs. Rising Treasury yields, which struck two-year highs, offset sterling's earlier employment-related gains , with markets abuzz with talk of a faster pace of Fed hikes and possibly even a 50bp increase to make up for lost ground as inflation, at 7%, remains well above the FOMC's 2% target. The pound was last down 0.44% against the dollar at $1.3594. It hit a late-October high of $1.3749 last week. Immediate resistance can be seen at 1.3636 (38.2% fib), an upside break can trigger rise towards 1.3703 (23.6%fib).On the downside, immediate support is seen at 1.3577 (50%fib), a break below could take the pair towards 1.3516(61.8%fib).
USD/CAD: The Canadian dollar was little changed against a broadly stronger U.S. counterpart on Tuesday, as oil prices climbed to their highest level since 2014 and investors bet that the Bank of Canada would raise interest rates as soon as next week . The price of oil, one of Canada's major exports, rose as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook. The loonie was trading nearly unchanged at 1.2505 to the greenback, after trading in a range of 1.2487 to 1.2533. Immediate resistance can be seen at 1.2537 (38.2%fib), an upside break can trigger rise towards 1.2598 (23.6%fib).On the downside, immediate support is seen at 1.2481(50%fib), a break below could take the pair towards 1.2437 (61.8%fib).
USD/JPY: The dollar initially gained against the Japanese yen on Tuesday but reversed after the Bank of Japan said it would stick to its ultra-loose monetary policy. Bank of Japan said it would maintain its ultra-loose monetary policy even as its global counterparts move towards exiting from crisis-mode policies. As widely expected, the BOJ left unchanged a -0.1% target for short-term interest rates and a pledge to guide long-term rates around 0% at a two-day meeting that ended on Tuesday. The dollar was up 0.03% against the yen at 114.52 , with the pair having reached as high as 115.06 overnight. Strong resistance can be seen at 114.80 (38.2%fib), an upside break can trigger rise towards 114.93 (21DMA).On the downside, immediate support is seen at 114.30 (50%fib), a break below could take the pair towards 113.84(61.8%fib).
European stocks closed on a weak note on Tuesday as Treasury yields surged higher amid expectations the Federal Reserve will start hiking interest rate as soon as March.
UK's benchmark FTSE 100 closed down by 0.64 percent, Germany's Dax ended down by 1.02 percent, France’s CAC finished the day down by 0.94 percent.
Wall Street's main indexes fell sharply on Tuesday as weak results from Goldman Sachs weighed on financial stocks and tech shares continued their sell-off to start the year as U.S. Treasury yields rose to milestones.
Dow Jones closed down by 1.51%percent, S&P 500 closed down by 1.83% percent, Nasdaq settled down by 2.60 % percent.
Benchmark U.S. Treasury yields jumped to two-year highs and equity markets tumbled on Tuesday, with the Nasdaq falling more than 2%, as traders braced for the Federal Reserve to tackle fast-rising inflation by tightening monetary policy.
The yield on two-year Treasuries rose 8.4 basis points to 1.051% and on 10-year Treasury notes they climbed 10.2 basis points to 1.874%, a yield last seen that high in early January 2020.
Oil prices on Tuesday climbed to their highest since 2014 as investors worried about global political tensions involving major producers such as the United Arab Emirates and Russia that could exacerbate the already tight supply outlook.
Brent crude futures rose $1.03, or 1.2%, to settle at $87.51 a barrel. U.S. West Texas Intermediate (WTI) crude futures ended $1.61, or 1.9%, higher at $85.43 a barrel.
Gold prices fell on Tuesday, as the dollar and U.S. Treasury yields strengthened with investors turning their attention to next week's Federal Reserve policy meeting for more signals on its rate hike timeline.
Spot gold was down 0.3% at $1,813.08 per ounce by 13:49 ET (1849 GMT), while U.S. gold futures settled 0.2% lower at $1,812.40.