America’s Roundup: Dollar index hits six-week low, Wall Street slips from record highs, Gold slips from 7-week top, Oil gains as dollar drops, gains capped by rise in Covid-19 cases-April 20th,2021
America’s Roundup: Dollar drops as traders prepare for inflation data, Wall Street ends mixed, Gold slips, Oil rises on U.S. vaccine rollout, Middle East tension-April 13th,2021
Europe Roundup: Sterling slips after reaching two-week high versus dollar, European stocks rise,Gold's gains, Oil rebounds on robust economic data-April 6th,2021
Europe Roundup: Pound gains versus dollar,driven by UK outperformance on vaccine rollout, Gold eases, Oil drops below $64 as rising OPEC+, Iranian output weighs-April 5th,2021
America’s Roundup: Greenback hits 4-week low on retreating US Treasury yields, Wall Street ends higher, Gold gains, Oil dips but posts weekly gain on recovery hopes-April 17th,2021
America’s Roundup: Dollar at three-week lows as Treasury yields subdued, Wall Street ends mixed, Gold falls, Oil climbs nearly 5% on signs of increasing crude demand-April 15th,2021
Europe Roundup: Sterling steadies versus dollar after hard profit-taking knock, European shares gain, Gold hits 3-week peak, Oil falls on surge in U.S. gasoline stocks-April 8th,2021
Europe Roundup: Sterling edges higher as Britain gets ready for April re-opening ,European stocks flat ,Gold little changed, Oil falls on OPEC+ concerns over slow demand recovery-March 31st,2021
Europe Roundup: Euro weakens after German investor morale falls in April, European shares pause near record high, Gold slips to one-week low, Oil prices tick up after robust China data-April 13th 2021
America’s Roundup: Dollar hits over 1-week trough, Wall Street ends higher, Gold inches lower, Oil down 5% as rising OPEC+, Iranian output weighs-April 6th,2021
Europe Roundup: Sterling hits one-week low vs dollar, European stocks pause near record high, Gold falls, Oil prices slip despite stronger economic outlook-April 7th,2021
Europe Roundup: Sterling recovers ground, hits one-week high vs. dollar,Gold prices ease, European shares gain,Oil maintains upward momentum despite fresh coronavirus fears- April 14th,2021
America’s Roundup: Dollar index jumps to four-month peak, Wall Street dips, Gold slides 2%,Oil falls as Suez Canal reopens, dollar rallies; eyes on OPEC+ meeting-March 31st,2021
America’s Roundup: Dollar edges higher on strong data, despite lower yields,Wall Street gains, Oil edges up to fresh 4-week highs as demand outlook improves-April 16th,2021
Europe Roundup: Euro holds above $1.20 against dollar, Europe shares ease, Gold gains, Oil hits $68 on Libya force majeure despite pandemic surge-April 20th,2021
America’s Roundup: Dollar edges higher from recent lows, Wall Street slides, Gold gains, Oil drops on demand fears as Covid-19 infections floods in India-April 21st ,2021
America’s Roundup: Dollar hits fresh three-year lows against commodity-linked currencies, Wall Street closes higher ,Gold subdued , Oil rises after data shows slump in U.S. output amid Texas freeze-February 25th,2021
• Canada Corporate Profits (QoQ) 7.9% ,-8.0% previous
• US Jan New Home Sales 855Kforecast, 842K previous
• US Jan New Home Sales (MoM) 4.3%,2.1% forecast, 1.6% previous
• US Crude Oil Inventories 1.285M -5.190M forecast,-7.258M previous
Looking Ahead - Economic Data (GMT)
• 1.285M -5.190M forecast,-7.258M previous
Looking Ahead - Economic events and other releases (GMT)
•00:00 New Zealand Feb NBNZ Own Activity 21.7% previous
•00:00 New Zealand Feb ANZ Business Confidence 9.4 previous
•00:30 Australia Plant/Machinery Capital Expenditure (QoQ) (Q4) -2.2% previous
•00:30 Australia Building Capital Expenditure (MoM) (Q4) -3.7% previous
•00:30 Australia Private New Capital Expenditure (QoQ) (Q4) 0.4% forecast, -3.0% previous
EUR/USD: The euro edged higher against dollar on Wednesday as upbeat German data lifted euro. Strong exports and solid construction activity helped the German economy to grow by a better-than-expected 0.3% in the final quarter of last year, but stricter lockdown measures at home and abroad are clouding the outlook for Europe’s largest economy. The data, published by the Federal Statistics Office on Wednesday, marked an upward revision to its earlier estimate for a 0.1% expansion over the previous quarter. Immediate resistance can be seen at 1.2172(50%fib), an upside break can trigger rise towards 1.223 (61.8%fib).On the downside, immediate support is seen at 1.2112(38.2%fib), a break below could take the pair towards 1.2029 (23.6%fib).
GBP/USD: Sterling jumped above $1.42 against dollar on Wednesday, coming within touching distance of $1.43, as investors retained their bullish views on the currency. The pound is the best-performing G10 currency this year, up nearly 4% against the dollar and 3.2% against the euro as investors bet Britain’s rapid COVID-19 vaccine rollout will lead to a quicker economic rebound. Sterling was 0.5% higher on the day at $1.4136 by 12:00 GMT. Immediate resistance can be seen at 1.4234 (Daily high), an upside break can trigger rise towards 1.4100(23.6%fib).On the downside, immediate support is seen at 1.4087 (5DMA), a break below could take the pair towards at 1.4055 (38.2%fib).
USD/CAD: The Canadian dollar strengthened to its highest level in three years against its U.S. counterpart on Wednesday, as oil prices rose and Canadian bond yields climbed at a faster pace than their U.S. counterparts. The loonie was trading 0.5% higher at 1.2523 to the greenback, or 79.85 U.S. cents, having touched its strongest intraday level since February 2018 at 1.2521. U.S. crude oil futures settled 2.5% higher at $63.22 a barrel on Wednesday after U.S. government data showed a drop in crude output after a deep freeze disrupted production last week Immediate resistance can be seen at 1.2563 (38.2%fib), an upside break can trigger rise towards 1.2612(50%fib).On the downside, immediate support is seen at 1.2500 (23.6%fib), a break below could take the pair towards 1.25400 (Psychological level).
USD/JPY: The dollar strengthened against the yen on Wednesday as investors increased bets that a global economic recovery will boost riskier assets . U.S. Federal Reserve Chair Jerome Powell reiterated on Tuesday that interest rates will remain low and the Fed will keep buying bonds to support the U.S. economy. The dollar rose against traditional safe haven currencies, adding 0.2% to 105.485 Japanese yen.Strong resistance can be seen at 105.88 (50%fib), an upside break can trigger rise towards 106.15(38.2%fib).On the downside, immediate support is seen at 105.58 (61.8%fib), a break below could take the pair towards 105.00 (Psychological level).
A gauge of global equity markets rose on Wednesday after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in U.S. Treasury yields on fears a robust recovery would drive inflation higher.
UK's benchmark FTSE 100 closed up by 0.21% percent, Germany's Dax ended down by 0.80 %percent, France’s CAC finished the day up by 0.31%percent.
The Nasdaq index fell in choppy trading on Wednesday as investors continued to sell technology-related stocks, while the S&P 500 and the Dow Jones were supported by cyclical shares on hopes of a quicker economic recovery.
Dow Jones was closed up by 1.35 percent, S&P 500 closed up by 1.14 percent, Nasdaq closed upby 0.99% percent.
Traders sent longer-term U.S. Treasury yields higher and steepened the yield curve on Wednesday but then pulled back some of those increases as Federal Reserve Chairman Jerome Powell again continued signaling the central bank will leave interest rates unchanged for a long time.
The benchmark 10-year yield was up less than a basis point at 1.3705% in afternoon trading.
Oil prices climbed on Wednesday to fresh 13-month highs after U.S. government data showed a drop in crude output after a deep freeze disrupted
Brent crude futures rose $1.67, or 2.6%, to settle at $67.04 a barrel. The global benchmark hit a session high of $67.30 a barrel, its loftiest since Jan. 8, 2020.
U.S. West Texas Intermediate (WTI) crude futures ended $1.55, or 2.5%, higher at $63.22 a barrel, after touching $63.37, also their highest since Jan. 8, 2020.
Gold pared some losses after dipping more than 1% earlier on Wednesday, helped by dovish comments fromFederal Reserve Chair Jerome Powell, but bullion struggled for traction as elevated U.S. Treasury yields dampened its allure as an inflation hedge.
Spot gold was down 0.4% at $1,798.10 per ounce by 02:30 p.m. EST (1930 GMT), after dropping as much as 1.2% earlier in the session.
U.S. gold futures settled down 0.4% at $1,797.90.