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 holds above 11-month lows on Omicron concerns, European shares gain, Gold ticks higher, Oil rebound as calm returns after Omicron hit-November 29th,2021
Europe Roundup: Euro falls to July 2020 lows as Germany's business morale darkens, Gold steadies, oil prices rise despite release of crude from strategic reserve-November 24th,2021
America’s Roundup: Dollar steadies near 16-month high, Gold drops to near 3-week low, Oil rises 3% to one-week high after U.S. taps emergency reserves-November 24th,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
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
America’s Roundup: Dollar rises as COVID concerns boosts greenbacks appeal, Wall Street ends mixed, Gold slips,Oil dives 3% on resurgent pandemic in Europe-November 20th,2021
Europe Roundup: Euro slides as Austria's fourth national COVID-19 lockdown begins, Gold hits 2-week low,Oil slips on COVID-19 curbs in Europe-November 22nd,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 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: Euro little changed ahead of U.S. jobs data, European shares gain, Gold dips, Oil prices climbs-December 3rd, 2021
Europe Roundup: Euro edges up as investors shrug off a more hawkish Fed, European shares rise, Gold steadies, Oil slips-November 25th,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
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
America’s Roundup: Dollar hits 2021 peak, Wall Street ends mixed, Gold retreats, Oil prices slip as U.S. inventories rise-September 30th,2021
•Canada Aug IPPI (MoM) -0.3%,0.1%forecast, -0.4% previous
•Brazil Aug Budget Surplus 16.729B,-12.150B forecast, -10.283B previous
•Canada Aug RMPI (MoM) -2.4% , 2.2% previous
•Canada Aug RMPI (YoY) -2.4%,37.7% previous
•US Aug Pending Home Sales (MoM) 8.1%,1.4% forecast, -1.8% previous
•US Crude Oil Inventories 4.578M,-1.652M forecast, -3.481M previous
Looking Ahead Economic Data (GMT)
•23:50 Japan Aug Retail Sales (YoY) -1.0%, 2.4% previous
•23:50 Japan Sep Industrial Production forecast 1m ahead (MoM) 3.4% previous
•23:50 Japan Aug Industrial Production (MoM) -0.5% forecast, -1.5% previous
•01:00 New Zealand Sep ANZ Business Confidence -14.2 previous
•01:00 Chinese Sep Composite PMI 48.9 previous
•01:00 Chinese Sep Non-Manufacturing PMI 47.5 previous
•01:00 Chinese Sep Manufacturing PMI 50.1 forecast, 50.1 previous
•01:30 Australia Aug Private Sector Credit (MoM) 0.7% previous
•01:30 Australia Aug Housing Credit 0.6% previous
•01:45 Australia Sep Caixin Manufacturing PMI 49.5, 49.2 previous
• 05:00 Japan Aug Housing Starts (YoY) 9.5% forecast, 9.9% previous
Looking Ahead - Events, Other Releases (GMT)
•No significant event
EUR/USD: The euro declined on Wednesday as the dollar rose on expectations that the US Federal Reserve may soon begin winding down its economic support measures. The dollar, an alternate “safe haven”, rallied to a one-year high against rival currencies, even though a deadlock in Washington over the U.S. debt ceiling threatened to plunge the government into a shutdown.The dollar index which measures the U.S. currency against a basket of six major currencies - rose for the fourth consecutive day, to 94.435, its highest since late September of last year. It was last up 0.7% at 94.404.1.Immediate resistance can be seen at 1.1630 (38.2%fib), an upside break can trigger rise towards 1.1660 (50%fib).On the downside, immediate support is seen at 1.1588(23.6%fib), a break below could take the pair towards 1.1568(Lower BB).
GBP/USD: Sterling fell to its lowest levels since January against the dollar on Wednesday, sustaining much of its losses the previous day after a selloff in equity markets hit risk sentiment and pushed the currency over 1% lower. On Wednesday, sterling extended its Tuesday losses and fell 0.2% more to its lowest since Jan. 11 against the dollar at $1.35045.It traded flat against the euro near a two-month low of 86.40 pence per euro. Bank of England governor Andrew Bailey is scheduled to speak at a forum in Sintra, Portugal later on Wednesday. Immediate resistance can be seen at 1.3471(38.2%fib),an upside break can trigger rise towards 1.3519 (50%fib).On the downside, immediate support is seen at 1.3426 (23.6%fib), a break below could take the pair towards 1.3400(Psychological level).
USD/CAD: The Canadian dollar weakened on Wednesday to its lowest level in nearly a week against its U.S. counterpart as oil prices fell and the greenback posted broad-based gains. The loonie was trading 0.5% lower at 1.2749 to the greenback, or 78.44 U.S. cents, after touching its weakest level since last Thursday at 1.2774 . The price of oil, one of Canada's major exports, was pressured by an unexpected rise in U.S. crude inventories and concerns about a slowing Chinese economy. U.S. crude oil futures settled 0.6% lower at $74.83 a barrel. Immediate resistance can be seen at 1.2777(23.6%fib), an upside break can trigger rise towards 1.2834 (Higher BB).On the downside, immediate support is seen at 1.2723(5 DMA), a break below could take the pair towards 1.2684(38.2%fib).
USD/JPY: The dollar strengthened against yen on Wednesday as increased expectations for a reduction in the U.S. Federal Reserve's asset purchases starting in November and an interest rate hike, possibly in late 2022 boosted dollar. The greenback fared well despite an impasse in Washington over the U.S. debt ceiling that threatened to plunge the government into a shutdown. The world's largest reserve currency, seen as a safe-haven bet at times of market stress, has strengthened in recent days as investors focused on fears of a global slowdown, a rise in energy prices and higher U.S. Treasury yields. Strong resistance can be seen at 112.06(23.6%fib), an upside break can trigger rise towards 112.28(Feb 3rd high).On the downside, immediate support is seen at 111.56(38.2%fib), a break below could take the pair towards 111.17(50%fib).
European stocks rose on Wednesday after one of the worst market routs this year as AstraZeneca lifted healthcare stocks on a deal to buy a rare disease drugmaker, while chip equipment producer ASM gained on an upbeat earnings forecast.
UK's benchmark FTSE 100 closed up by 1.14 percent, Germany's Dax ended up by 0.77 percent, France’s CAC finished the day up by 0.84 percent.
Wall Street seesawed in choppy trading on Wednesday, regaining some of the ground lost in the previous session’s broad sell-off although initial gains were capped by concern over remarks from U.S. Federal Reserve Chairman Jerome Powell and the ongoing debt ceiling debate.
Dow Jones ended up by 0.26 percent, S&P 500 settled up by 0.16 percent, Nasdaq was closed down by 0.24 percent.
Traders slowed their selling of U.S. Treasuries on Wednesday, leaving yields little changed, as they kept an eye on government budget talks in Washington.
The benchmark 10-year yield was up 1 basis point at 1.5462% while yields on shorter-term debt were lower. After four consecutive sessions in which the 10-year yield rose, the yield fell as low as 1.494% on Wednesday morning before finding support.
Gold fell to its lowest in seven weeks on Wednesday as the dollar rose and on expectations the U.S. Federal Reserve could soon begin winding down its economic support measures.
Spot gold was down 0.7% at $1,722.50 per ounce by 1:32 p.m. EDT (1732 GMT), after hitting its lowest since Aug. 10 at $1,720.49.U.S. gold futures settled 0.8% lower at $1,722.9.
Oil prices slipped on Wednesday after U.S. crude inventories rose by more than anticipated, even as OPEC plans to maintain its deliberate approach to adding supply to the market.
Brent crude settled down 45 cents to $78.64 a barrel, after reaching $80 on Tuesday. U.S. oil prices ended down 46 cents, or 0.6%, to $74.83 a barrel.