America’s Roundup: Dollar dips as rate hike bets ease, Wall Street closes down, Gold firms, Oil gains $5 on weaker dollar, tight supplies-July 19,2022
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: Dollar gains on U.S. service sector data, Wall Street rallies, Gold little changed, Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build-August 4th,2022
Europe Roundup: Sterling drifts higher but capped by weak data, European shares gain, Gold ticks up, Oil rises on U.S. inventory drop, Russian gas cuts-July 27th,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
Europe Roundup: Euro falls as gloomy PMIs cloud prospects for future ECB hikes, European shares edge higher, Gold little changed, Oil prices fall as Libya resumes output, global demand outlook darkens-July 22nd,2022
America’s Roundup: Dollar slips after dismal U.S. data ,Wall Street closes lower, Gold gains, U.S. crude ends below $95/bbl as EU tweaks Russian oil sanctions-July 23rd,2022
America’s Roundup: Dollar gains after stronger-than-expected payrolls data , Wall Street ends mixed, Gold dips 1%, Oil prices end week on multi-month lows on recession fears, Oil prices end week on multi-month lows on recession fears-August 6th,2022
Europe Roundup:Euro gains on upbeat Eurozone GDP data, European shares rises, Gold gains,Oil prices rise as chances of OPEC+ supply boost dim-July 29th,2022
Europe Roundup: Sterling gains, shrugs off factory data ahead of BoE, European shares rise, Gold extends gains, Oil drops as weak Chinese factory data heightens demand concerns-August 1st,2022
Europe Roundup: British pound rises on weakening US dollar, political risks limit rally, European shares gain,Gold firms, Oil gians as weak greenback and tight supply supports-July 18th,2022
America’s Roundup: Dollar bounces from two-week low, Wall Street closes higher, Gold prices dip, Oil falls on lackluster U.S. summer gasoline demand-July 21st,2022
America’s Roundup: Dollar falls ahead of Fed meeting,Wall Street closes on mixed note,Gold dips, Oil rises as Russian gas cut to Europe may encourage switching to crude-July 26th,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
America’s Roundup: Dollar dips as U.S. growth falls in Q2,Wall Street rises, Gold gains, Oil mixed as U.S. gasoline demand rebounds but recessionary fears loom-July 29th,2022
Europe Roundup: Euro gains against dollar ahead of a U.S. Federal Reserve meeting, European shares gains, Gold steadies, Oil rises in volatile trade-July 25th, 2022
America’s Roundup: Dollar gains, euro slips as Lagarde keeps July policy choices open, Wall Street stumbles, Gold little changed, Oil settles higher as major producers signal capacity limits-June 29th,2022
• US May Goods Trade Balance -104.31B,-106.70B previous
•US May Retail Inventories Ex Auto 0.8%,1.7% previous
• US Wholesale Inventories (MoM) 2.0%,2.1% forecast, 2.2% previous
• US Redbook (YoY) 11.7%,12.8% previous
• US Apr S&P/CS HPI Composite - 20 n.s.a. (YoY) 21.2%, 21.0% forecast, 21.2% previous
• US Apr S&P/CS HPI Composite - 20 n.s.a. (MoM) 2.3% ,3.1% previous
• US S&P/CS HPI Composite - 20 s.a. (MoM) 1.8%, 2.0% forecast, 2.4% previous
• US CB Jun Consumer Confidence 98.7 ,100.4 forecast, 106.4 previous
• US Jun Richmond Manufacturing Shipments -29,-14 previous
•US Jun Texas Services Sector Outlook -12.4,1.5 previous
•US Jun Dallas Fed Services Revenues 9.4, 6.3 previous
Looking Ahead - Economic Data (GMT)
•23:50 Japan May Retail Sales (YoY) 3.3% forecast,3.1% previous
•01:30 Australian May Retail Sales (MoM) 0.4% forecast,,0.9% previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro declined on Tuesday after European Central Bank (ECB) President Christine Lagarde offered no fresh insight into the central bank's policy outlook.The ECB is widely expected to follow its global peers by raising interest rates in July to try to check soaring inflation though economists are divided on the magnitude of any rate hike.The euro held below $1.06 after Lagarde said the central bank would move gradually but with the option to act decisively on any deterioration in medium-term inflation, especially if there were signs of a de-anchoring of inflation expectations.. Immediate resistance can be seen at 1.0506(20DMA),an upside break can trigger rise towards 1.0621(38.2%fib).On the downside, immediate support is seen at 1.0476(23.6%fib), a break below could take the pair towards 1.0385(Lower BB).
GBP/USD: Sterling fell against the dollar on Tuesday, undermined by Britain's bleak economic and political outlook relative to other big economies, including the government's plans to ditch pre-agreed rules on post-Brexit trade with Northern Ireland.Monday saw British Prime Minister Boris Johnson press on with plans to pass legislation through parliament to overturn parts of a Brexit divorce deal over Northern Ireland trade. The pound slipped 0.6% versus the dollar at $1.2192 . It flatlined against the euro at 86.200 pence after touching a near two-week low to the single currency. Immediate resistance can be seen at 1.2257(5DMA),an upside break can trigger rise towards 1.2336(38.2%fib).On the downside, immediate support is seen at 1.2178(23.6%fib), a break below could take the pair towards 1.2107(June 13th low).
USD/CAD: The Canadian dollar strengthened for a third straight day against its U.S. counterpart on Tuesday as the easing of COVID-19 restrictions in China bolstered investor sentiment. Global shares were higher and the price of oil, one of Canada's major exports, rose following China's decision to ease some quarantine requirements for international arrivals, a move that raised hopes for stronger growth and a revival in demand for commodities. Adding to support for oil, major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly while Western governments agreed to explore ways to cap the price of Russian oil .Immediate resistance can be seen at 1.2883 (38.2%fib), an upside break can trigger rise towards 1.2981 (23.6%fib).On the downside, immediate support is seen at 1.2821(20DMA), a break below could take the pair towards 1.2798 (50%%fib).
USD/JPY: The dollar steadied against the Japanese yen on Tuesday as investors remained focused on inflation risks and monetary tightening. New York Federal Reserve Bank President John Williams on Tuesday in an interview on CNBC said interest rates definitely needed to be between 3% and 3.5% by the end of this year, but that he did not anticipate a U.S. recession. The U.S. dollar index , which struck a two-decade high of 105.79 this month, was last up 0.51% at 104.490. The U.S. dollar was trading higher 0.02 % versus the yen to 136.14. Strong resistance can be seen at 136.19 (23.6%fib), an upside break can trigger rise towards 137.00(Psychological level).On the downside, immediate support is seen at 134.90(14DMA), a break below could take the pair towards 132.92(38.2%fib).
European shares rose on Tuesday as risk appetite improved after China eased its COVID-19 quarantine mandate, while rising oil prices provided an additional boost to energy stocks.
UK's benchmark FTSE 100 closed up by 0.90 percent, Germany's Dax ended up by 0.35 percent, France’s CAC finished the day up by 0.64 percent.
Wall Street closed sharply lower in a broad sell-off on Tuesday as dire consumer confidence data dampened investor optimism and fueled worries over recession and the looming earnings season.
Dow Jones closed down by 1.56% percent, S&P 500 closed down by 2.01% percent, Nasdaq settled up by 2.98% percent.
U.S. Treasury yields were mostly flat on Tuesday after a report showed consumer confidence slumped in June on concerns that high inflation will likely weaken economic growth later this year.
The yield on 10-year Treasury notes fell 0.2 basis points to 3.192%.
Gold prices were hemmed in a tight range on Tuesday as prospects of higher interest rates challenged bullion's safe-haven appeal while recession risks boosted it.
Spot gold edged 0.1% lower to $1,820.31 per ounce by 2:09 p.m. ET (1809 GMT). U.S. gold futures settled down 0.2% at $1,821.2.
Oil prices settled higher for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly while Western governments agreed to explore ways to cap the price of Russian oil.
Brent crude futures climbed $2.89, or 2.5%, to settle at $117.58 a barrel by 12:33 p.m. EDT (1633 GMT). U.S. West Texas Intermediate (WTI) crude settled up$2.19, or 2%, to $111.76 a barrel.