America’s Roundup: Dollar gains as U.S. yields rise before ECB meeting, Wall Street falls, Gold retreats, Oil slides on demand concerns-September 8th,2021
America’s Roundup: Dollar little changed as US jobs data report looms ,Wall Street ends lower ,Gold rises, Oil settles down 1% as U.S. refineries shut; Washington pushes OPEC to pump more-September 1st,2021
America’s Roundup: Dollar index climbs after U.S. retail sales show surprise rebound ,Wall Street slips, Gold slides, Oil prices steady as U.S. storm threat wanes-September 17th,2021
Europe Roundup: Euro dips ahead of Thursday’s ECB meeting, European stocks gain, Gold steadies, Oil down after deep Saudi price cuts spur demand concerns-September 6th,2021
Europe Roundup:Euro inches higher in run-up to ECB verdict, European shares dips,Gold rises, Oil prices firm as U.S. output struggles after storm-September 9th,2021
America’s Roundup: Dollar hits three-week high, driven by recent data ,Wall Street slips, Gold edges lower, Oil falls as storm-hit U.S. supply trickles back into market-September 18th,2021
Europe Roundup: Sterling dips against dollar after retail sales data, European shares dips, Gold recoups some losses, Oil holds above $75 as storm-hit U.S. supply returns slowly-September 17th,2021
America’s Roundup: U.S. dollar declines after U.S. Fed Chair Powell comments, Wall Street rises, Gold jumps, Oil posts biggest weekly gains in over a year ahead of Hurricane Ida-August 28th,2021
America’s Roundup: U.S. dollar strengthens against rivals as Fed's taper talk gathers pace, Wall Street ends mixed, Gold gains, Oil rises to six-week high as U.S. supply concerns dominate-September 14th,2021
Europe Roundup; Sterling steadies near 5-week highs against dollar, European shares dips,Gold little changed, Oil hits 6-week high as U.S. Gulf braces for another hurricane-September 14th,2021
America’s Roundup: Dollar skids as soft U.S. inflation weighs, Wall Street ends higher, Gold retreats, Oil prices jump over $2/bbl after drawdown in U.S. stocks-September 16th,2021
America’s Roundup: Dollar drops with US yields, euro buoyed as ECB trims emergency support, Wall Street closes down, Gold gains, Oil dives late, hit by China supply plan, U.S. bond auction-10th Sepember,2021
America’s Roundup: Dollar gains after hitting near two-week low, Wall Street ends mixed, Gold dips, Oil settles up as U.S. producers, refiners assess storm damage-August 31st,2021
America’s Roundup: Dollar eases ahead US payrolls data, Wall Street ends higher, Gold eases,Oil rises on economic recovery hopes, weaker dollar-September 3rd,2021
Europe Roundup: Sterling dips for second day against dollar,European stocks slip, Gold slips, Oil mixed, fears of slower demand weigh on sentiment-September 7th,2021
America’s Roundup: Dollar extends gains, Wall Street ends lower, Gold hits two-week low, Oil settles up 1% on low U.S. output after hurricane, Oil settles up 1% on low U.S. output after hurricane-September 9th,2021
America’s Roundup: Dollar heads for second weekly rise, Wall Street closes at record highs, Gold dips, Oil edges up in weekly rebound on forecasts for tight supplies-24th July,2021
•Canada Core Retail Sales (MoM) -2.1%,-2.2% forecast,-7.2% previous
•Canada May Retail Sales (MoM) -2.0%,-3.0% forecast, -5.7% previous
•US Jul Services PMI 59.8,64.8 forecast, 64.6 previous
•US Jul Manufacturing PMI 63.1, 62.0 forecast, 62.1 previous
•US Jul Markit Composite PMI 59.7, 63.7 previous
•U.S. Baker Hughes Oil Rig Count 387, 380 previous
•U.S. Baker Hughes Total Rig Count 491, 484 previous
Looking Ahead –Economic Data (GMT)
•No economic data ahead
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro edged lower against dollar on Friday as fears over the spread of the Delta variant of the coronavirus rattled markets and prompted investors to buy safer assets. Financial markets were volatile earlier in the week as sentiment over the global economic outlook swung with each new Delta headline. Euro zone bond yields ended the day broadly flat after a muted reaction to IHS Markit’s flash Purchasing Managers’ Index (PMI), which showed euro zone business activity expanded at its fastest monthly pace in over two decades in July. Immediate resistance can be seen at 1.1781 (5DMA), an upside break can trigger rise towards 1.1822 (38.2%fib).On the downside, immediate support is seen at 1.1754 (23.6% fib), a break below could take the pair towards 1.1716 (Lower BB).
GBP/USD: Sterling fell on Friday after a survey showed Britain’s economic rebound slowing sharply in July when a spike in COVID-19 cases forced hundreds of thousands of workers to self-isolate under government rules. Friday’s monthly purchasing managers’ index (PMI) data gave the first clear evidence of the scale of the impact. The IHS Markit/CIPS flash composite PMI dropped to 57.7 in July from 62.2 in June. The pound weakened as much as 0.3% to $1.3720 before recovering somewhat to trade at $1.3751. Immediate resistance can be seen at 1.3794(50%fib),an upside break can trigger rise towards 1.3886 (61.8%fib).On the downside, immediate support is seen at 1.3716 (38.2%fib), a break below could take the pair towards 1.3623(23.6%fib).
USD/CAD: The Canadian dollar weakened slightly against its U.S. counterpart on Friday, but ended a volatile week higher as investor sentiment improved and a preliminary estimate showed Canadian retail sales rebounding in June. The loonie weakened 0.1% to 1.2575 per greenback. For the week, the Canadian currency gained 0.3%, after three straight weekly declines. Canadian retail sales dropped 2.1% in May from April, Statistics Canada said, less than a 3.0% decline forecast by economists. Immediate resistance can be seen at 1.2584(38.2%fib), an upside break can trigger rise towards 1.2620 (5DMA).On the downside, immediate support is seen at 1.2520(50% fib), a break below could take the pair towards 1.2459(61.8%fib).
USD/JPY: The dollar strengthened against the Japanese yen Friday as the market shifted focus to next week's Federal Reserve meeting. Investors' next major focus is the Fed's two-day policy meeting next week. Many economists still expect the meeting to advance discussions for a tapering of stimulus. Risk appetite remained high on Friday, with the rise in U.S. stocks, the sell-off in Treasuries, gains in most commodity currencies, and the greenback coming off its peaks. The dollar rose against the safe-harbor yen 0.3% to 110.54 yen. Strong resistance can be seen at 110.60(38.2%fib), an upside break can trigger rise towards 110.98 (23.6%fib).On the downside, immediate support is seen at 110.27 (50%fib), a break below could take the pair towards 109.97(61.8%fib).
European stocks closed at all-time highs on Friday as optimism about the earnings season and the European Central Bank’s pledge of continued monetary support outweighed risks of a resurgence in COVID-19 cases.
UK's benchmark FTSE 100 closed up by 0.85 percent, Germany's Dax ended up by 1.00 percent, France’s CAC finished the day up by 1.35 percent.
All three major U.S. stock indexes closed at record highs on Friday after a rocky week in which investors fretted over the Delta coronavirus variant and cheered an economic recovery, while U.S. Treasury yields rose before a Federal Reserve meeting next week.
Dow Jones closed up by 0.68% percent, S&P 500 closed up by 1.01% percent, Nasdaq settled up by 1.04% percent.
Treasury yields rose on Friday ahead of the Federal Reserve's policy-setting meeting next week, which will provide clues on the strength of the U.S. recovery and when the central bank might start to curb its economic support.
The benchmark note traded up 2.1 basis points at 1.288% after briefly rising above 1.3%. The yield on the 30-year Treasury bond rose 2.2 basis points to 1.925%.
Gold fell and was heading for a weekly dip on Friday as a stronger dollar, firmer yields and equity markets chipped away at its appeal.
Spot gold fell 0.3% to $1,800.72 per ounce by 1:43 pm EDT (1743 GMT). U.S. gold futures settled 0.2% lower at $1,801.80.
Oil prices edged higher on Friday and for the week after a strong recovery from Monday's steep slide, underpinned by expectations that supply will remain tight through the year.
Brent crude ended the session up 31 cents, or 0.4%, at $74.10 a barrel after jumping 2.2% on Thursday. U.S. West Texas Intermediate (WTI) crude settled up 16 cents, or 0.2%, at $72.07, after gaining 2.3% on Thursday.