Europe Roundup: Pound drops more than 1% as Bank of England steps into bond market , European shares slide, Gold slides to 2-1/2 year low, Oil prices stable as soaring dollar offset by U.S. output outages-September 28th,2022
Europe Roundup: Sterling tumbles after Britain's new economic plan, European shares extend falls, Gold hits more than 2-year low, Oil prices down 3% with recession fears in focus-September 23rd,2022
Europe Roundup: Euro holds above 2-decade low before ECB decision, European shares gain ,Gold struggles for direction, Oil prices fall further as China extends COVID curbs-September 8th,2022
America’s Roundup: Dollar falls as investors balance their positions ahead of US inflation data, Wall Street ends higher, Gold gains, Oil rises 4% on supply threats, still set for weekly drop-September 10th,2022
America’s Roundup: Dollar reaches new two-decade high, Wall Street ends lower, Gold drops to 2-1/2-year lows, Oil plunges to eight-month low on strong dollar, recession fears-September 24th,2022
America’s Roundup: Dollar gains ahead of Fed rate decision,Wall Street falls, Gold retreats, Oil prices down, investors expect big Fed rate hike-September 21st,2022
Europe Roundup: Sterling crumbles to all-time low, European shares falls, Gold pinned near 2-1/2-year low, Oil prices hit nine-month low on recession fears-September 26th,2022
Europe Roundup: Sterling recovers as BoE, Treasury seek to calm markets , European shares bounce, Gold firms, Oil rises from 9-month low on U.S. Gulf supply cuts-September 27th,2022
America’s Roundup: Dollar dips ahead of CPI report, Wall Street ends higher, Gold gains , Oil prices settle higher amid supply concerns heading into winter-September 13th,2022
America’s Roundup: U.S. dollar soars to two-decade high as Fed flags more large hikes, Wall Street slumps, Gold bounces ,Oil prices slide 1% after U.S. Fed raises interest rates-September 22nd,2022
Europe Roundup: Sterling languishes near 37-year low vs dollar European shares falls, Gold dips, Oil falls more than 2% on demand fears-September 19th,2022
America’s Roundup: Dollar inches up vs yen as investors expect Fed will stay aggressive, U.S. stocks slip ,Gold falls, Oil slumps over 3% on demand concerns-September 16th,2022
Europe Roundup: Euro gains as dollar dips ahead of US CPI data, European shares rise, Gold holds steady, Oil prices climb on concerns over tight supplies-September 13th,2022
Europe Roundup: Euro gains on ECB rate hike, European shares gains, Gold hits more than one-week high, Oil supported by supply threats -September 9th,2022
Europe Roundup: Sterling plunges near 35-year low against the dollar, European stocks bounce, Gold dips to near 2-month low, Oil falls over 1% on demand concerns, strong dollar-September 15th,2022
Europe Roundup: Sterling gains against the dollar, European shares dips, Gold ticks up, Oil prices stabilise on IEA demand outlook-September 14th,2022
America’s Roundup: Dollar pares gains as some Fed officials show caution on growth,Wall Street ends down, Gold trims losses , Oil edges off low as strong export demand drains U.S. crude stocks-August 18th,2022
• Fed minutes suggest officials still committed to raising rates
•Indexes: Dow down 0.5%, S&P 500 down 0.7%, Nasdaq down 1.3%
•U.S. crude stocks fall 7.1 mln barrels -EIA
• US Jul Core Retail Sales (MoM) 0.4% ,-0.1% forecast, 1.0% previous
• US Jul Retail Sales Ex Gas/Autos (MoM) 0.7%,0.7% previous
• US Jul Retail Sales (MoM) 0.0%, 0.1% forecast, 1.0% previous
• US Jul Retail Control (MoM) 0.8%, 0.6% forecast, 0.8% previous
• US Jun Retail Inventories Ex Auto 1.5%,1.6% forecast, 1.4% previous
• US Jun Business Inventories (MoM) 1.4%,1.4% forecast, 1.4% previous
• US Crude Oil Inventories -7.056M,-0.275M forecast, 5.458M previous
• US Cushing Crude Oil Inventories 0.192M,0.723M previous
Looking Ahead – Economic data (GMT)
• 01:30 Australia Jul Employment Change 25.0K forecast, 88.4K previous
• 01:30 Australia Jul Unemployment Rate Jul 3.5% forecast,3.5% previous
• 01:30 Australia Jul Participation Rate (Jul) 66.8% forecast, 66.8% previous
•01:30 Australia Jul Full Employment Change 52.9K previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro was little changed against dollar on Wednesday after revised official data showed euro zone economic growth was slightly less robust in the second quarter than previously estimated. Euro zone economic growth was slightly less robust in the second quarter than forecast but still strong, and employment rose again, revised data from the European statistics office showed on Wednesday. Eurostat said gross domestic product in the 19 countries using the euro rose 0.6% quarter-on-quarter in April-June for a 3.9% year-on-year rise. The office had previously estimated the quarterly growth at 0.7% and the year-on-year rise at 4.0%. The euro was broadly unchanged versus the dollar at $1.0174. Immediate resistance can be seen at 1.0218(14DMA), an upside break can trigger rise towards 1.0308(38.2%fib).On the downside, immediate support is seen at 1.0114(23.6%fib), a break below could take the pair towards 1.0086(Lower BB).
GBP/USD: The British pound edged lower against dollar on Wednesday after data showed inflation climbed to its highest level in more than four decades in July, heaping pressure on the Bank of England to bring down prices but increasing the risk of a sharper economic slowdown. Consumer price inflation rose to 10.1% in July, its highest since February 1982, official figures showed. The increase was above economists' expectations in a poll for inflation to rise to 9.8%. Money markets are pricing in about an 88% chance of a 50 basis point rate rise from the central bank next month, little changed from before the data. But traders are now pricing in a further 200 basis points of tightening by May next year, taking the Bank Rate to 3.75%. Immediate resistance can be seen at 1.2137(38.2%fib), an upside break can trigger rise towards 1.2246(50%fib).On the downside, immediate support is seen at 1.2028(23.6%fib),a break below could take the pair towards 1.1943 (Lower BB).
USD/CAD: The Canadian dollar weakened against its U.S. counterpart on Wednesday as investors digested minutes from the latest Federal Reserve policy meeting and awaited domestic retail sales data due at the end of the week. U.S. stocks pared losses but remained lower on the day as Fed officials saw "little evidence" late last month that U.S. inflation pressures were easing, and steeled themselves to force the economy to slow down as much as needed to control the surge in prices. Canada sends about 75% of its exports to the United States. The Canadian dollar was trading 0.4% lower at 1.29 to the greenback, or 77.52 U.S. cents, giving back nearly all of the previous day's gain. It traded in a range of 1.2828 to 1.2936 . Immediate resistance can be seen at 1.2931(Daily high), an upside break can trigger rise towards 1.2990 (23.6%fib).On the downside, immediate support is seen at 1.2888 (38.2%fib), a break below could take the pair towards 1.2806 (11 DMA).
USD/JPY: The dollar steadied against yen on Wednesday after minutes from the Federal Reserve's July meeting showed that Fed officials are concerned the U.S. central bank could raise rates too far as part of its commitment to get inflation under control.In a glimpse of the emerging debate at the central bank, "many" participants noted a risk that the Fed "could tighten the stance of policy by more than necessary to restore price stability," a fact that they said made sensitivity to incoming data all the more important, the minutes showed. The size of the Fed’s next expected rate hike is expected to depend on consumer price inflation and jobs data for August, which will be released before its September meeting. The dollar index fell to 106.39 after the meeting minutes were released, before rebounding back to 106.55, up 0.09% on the day. Strong resistance can be seen at 135.23(38.2%fib), an upside break can trigger rise towards 136.00(Psychological level).On the downside, immediate support is seen at 134.09(5DMA), a break below could take the pair towards 132.47 (50%fib).
European stocks closed lower on Wednesday, snapping a five-day winning streak, as worries about slowing growth and rising inflation rendered the mood bearish.
The UK's benchmark FTSE 100 closed down by 0.27 percent, Germany's Dax ended down by 2.04 percent, and France’s CAC finished the down by 0.98 percent.
U.S. stocks closed lower on Wednesday, with indexes volatile after minutes from the Federal Reserve's meeting in July suggested policymakers may be less aggressive than previously thought when they raise interest rates in September.
Dow Jones closed down by 0.5% percent, S&P 500 closed down 0.7% percent, Nasdaq closed down 1.18 percent.
Treasuries showed a notable move to the downside during trading on Wednesday, extending the pullback seen in the previous session.
The twenty-year bond auction drew a high yield of 3.380 percent and a bid-to-cover ratio of 2.30, while the ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.54.
Gold pared some losses on Wednesday after minutes from a Federal Reserve meeting showed the pace of future hikes would depend on incoming economic data, while the dollar also added pressure on prices.
Spot gold fell 0.5% to $1,766.29 per ounce by 2:36 p.m. ET (1936 GMT). U.S. gold futures settled down 0.7% to $1,776.7.
Oil prices rose about 1.5% after hitting a six-month low on Wednesday, as a steeper-than-expected drawdown in U.S. crude stocks outweighed concerns over rising Russian output and exports as well as recession fears.
Brent crude settled $1.31, or 1.42% higher at $93.65 per barrel. Earlier in the day, recession worries had pushed the benchmark price to its lowest since February at $91.51.
U.S. West Texas Intermediate (WTI) crude rose $1.58, or 1.8%, to $88.11 per barrel.
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