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
Europe Roundup: Sterling edges up after UK inflation jump, European stocks slip, Gold eases, Oil prices climb after drawdown in U.S. stocks-September 15th,2021
Europe Roundup:Sterling hits two-week high against dollar, European stocks gain,Gold rises, Oil dips on hurricane impact on U.S. refining, weak China data-August 31st,,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: Dollar turns negative on inflation data, Wall street dips,Gold climbs, Oil settles unchanged as latest storm spares U.S. energy sector-September 15th,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 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
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 softens after ADP data, Wall Street ends mixed,Gold little changed, Oil steadies, OPEC+ sticks to gradual output hikes-September 2nd,2021
Europe Roundup: Sterling steadies against dollar, European stocks gain, Gold little changed, Oil price climbs before OPEC+ policy meeting-September 1st,2021
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
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 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
America’s Roundup: Dollar brushes aside jobs report losses, Gold eases, Oil falls after Saudi price cuts-September 7th,2021
America’s Roundup: Dollar recovers from earlier fall after US jobless claims data, Wall Street ends mixed, Gold scales 1-month peak, Oil falls as investors look out for more supply-16th July,2021
•US Jul Philly Fed Business Conditions 48.6, 69.2 previous
•US Jul Philly Fed Employment 29.2,30.7 previous
•US Jul Philly Fed Prices Paid 69.70,80.70 previous
•US Import Price Index (MoM) 1.0%,1.2% forecast, 1.1% previous
•US Jul Philadelphia Fed Manufacturing Index 21.9,28.0 forecast, 30.7 previous
•US Jul Export Price Index (MoM) 1.2%,1.2% forecast, 2.2% previous
•US Jul NY Empire State Manufacturing Index 43.00,18.00 forecast, 17.40 previous
•Canada ADP Nonfarm Employment Change -294.2K,101.6K previous
•Canada New Motor Vehicle Sales (MoM) 152.0%, 167.0% previous
•US Initial Jobless Claims 360K,360K forecast, 373K previous
•US Jobless Claims 4-Week Avg 382.50K,394.50K previous
•US Continuing Jobless Claims 3,241K,3,313K forecast, 3,339K previous
•US Jun Industrial Production (YoY) 9.80%, 16.32% previous
•US Jun Manufacturing Production (MoM) -0.1%,0.2% forecast, 0.9% previous
•US Capacity Utilization Rate 75.4%,75.6% forecast, 75.2% previous
Looking Ahead –Economic Data (GMT)
•07:30 Japan Jul Thomson Reuters IPSOS PCSI 38.28 previous
•07:30 China Jul Thomson Reuters IPSOS PCSI 73.16 previous
Looking Ahead - Events, Other Releases (GMT)
•08:30 Japan BoJ Press Conference
•08:30 Japan BoJ Monetary Policy Statement
•08:30 Japan BoJ Outlook Report
EUR/USD: The euro gave up earlier ground on Thursday as dollar gained after jobless claims data. The number of Americans filing new claims for unemployment benefits fell to a 16-month low last week as the labor market gains traction, but worker shortages and bottlenecks in the supply chain are frustrating efforts by businesses to ramp up production to meet strong demand for goods and services. Initial claims for state unemployment benefits fell 26,000 to a seasonally adjusted 360,000 for the week ended July 10, the lowest level since the middle of March in 2020.Immediate resistance can be seen at 1.1850 (11DMA), an upside break can trigger rise towards 1.1884 (50%fib).On the downside, immediate support is seen at 1.1821 (38.2%fib), a break below could take the pair towards 1.1754(23.6%fib)
GBP/USD: Sterling retreated further against the dollar on Thursday, shrugging off another set of stronger economic data and focusing on the impending end of activity curbs even as COVID-19 infection rates climbed. Britain is set to drop all COVID-linked activity curbs from next Monday, including mandatory mask-wearing. While two-thirds of British adults are fully vaccinated, scientists warn another wave of infections. The anxiety seems to be outweighing signs the economy is bouncing back strongly from the lockdowns. Sterling eased 0.3% against the dollar at $1.3828, retreating further from two-week highs hit at the start of the week. Immediate resistance can be seen at 1.3870 (38.2% fib), an upside break can trigger rise towards 1.3940 (50%fib).On the downside, immediate support is seen at 1.3830 (14DMA), a break below could take the pair towards 1.3780 (23.6%fib).
USD/CAD: The loonie fell to nearly three month low versus its US counterpart on Thursday, as was loonie hit by dismal economic data and weak oil prices. Canada lost 294,200 jobs in June, mainly on a plunge in service-sector jobs in industries hit hard by COVID-19 restrictions, a report from payroll services provider ADP showed on Thursday. The Canadian dollar was also hurt by weakness in the price of oil, one of Canada's major exports. The Canadian dollar was trading 0.8% lower at 1.2604 to the greenback. Immediate resistance can be seen at 1.2607 (23.6%fib), an upside break can trigger rise towards 1.2637(Higher BB).On the downside, immediate support is seen at 1.2526(38.2%fib), a break below could take the pair towards 1.2467(50%fib).
USD/JPY: The dollar declined against the Japanese yen on Thursday as investors await next catalyst. The dollar dipped against yen as investors mulled the Federal Reserve's benign inflation outlook and upbeat assessment of the U.S. economy. The number of Americans filing new claims for unemployment benefits fell to a 16-month low last week as the U.S. labor market steadily gains traction while other data showed import prices rose solidly in June but have probably peaked. Strong resistance can be seen at 110.00 (Psychological level), an upside break can trigger rise towards 110.15 (38.2%fib).On the downside, immediate support is seen at 109.70 (23.6%fib), a break below could take the pair towards 109.47 (Lower BB).
Losses on Thursday knocked European shares 1.2% off all-time highs as a clutch of dismal earnings and falling bond yields dampened sentiment, while UK-listed Avast soared 18% on merger talks.
UK's benchmark FTSE 100 closed down by 1.51 percent, Germany's Dax ended down by 2.56 percent, France’s CAC finished the day down by 2.85 percent.
The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike.
Dow Jones closed up by 0.15% percent, S&P 500 closed down by 0.33 % percent, Nasdaq settled up by 0.70% percent.
U.S. Treasury yields fell to one-week lows on Thursday as Federal Reserve Chairman Jerome Powell testified before Congress for the second day that rising inflation is likely to be transitory and that the U.S. central bank would continue to support the economy.
Benchmark 10-year yields fell six basis points on Thursday to 1.297%. The yield curve between two-year and 10-year notes flattened five basis points to 107 basis points.
Gold hit a one-month peak on Thursday, spurred by U.S. Federal Reserve Chair Jerome Powell’s dovish comments and some concerns over a stalling global economy.
Spot gold rose 0.1% to $1,829.16 per ounce by 1:59 pm EDT. U.S. gold futures gained 0.3% to $1,830.00.
Oil falls as invOil prices fell by more than $1 a barrel on Thursday on expectations of more crude hitting the market after a compromise deal between leading OPEC producers and a surprisingly poor weekly reading on U.S. fuel demand.
Brent crude settled at $73.47 a barrel, dropping $1.29, or 1.7%. U.S. West Texas Intermediate (WTI) crude settled at $71.65 a barrel, down $1.48, or 2.2%.estors look out for more supply