Europe Roundup: Euro recovers after U.S. jobs report sell-off, European shares bounce ,Gold range-bound, Oil stays near multi-month lows on demand worries-August 8th,2022
Europe Roundup: Euro falls as gloomy PMIs cloud prospects for future ECB hikes, European shares edge higher, Gold little changed, Oil prices fall as Libya resumes output, global demand outlook darkens-July 22nd,2022
America’s Roundup: Dollar dips as U.S. growth falls in Q2,Wall Street rises, Gold gains, Oil mixed as U.S. gasoline demand rebounds but recessionary fears loom-July 29th,2022
Europe Roundup: Sterling gains, shrugs off factory data ahead of BoE, European shares rise, Gold extends gains, Oil drops as weak Chinese factory data heightens demand concerns-August 1st,2022
Europe Roundup: Euro dips against dollar ahead of US GDP data, European shares mixed, Gold hits a three-week high, Oil extends gains as risk appetite improves, U.S. inventories fall-July 28th,2022
Europe Roundup: British pound falls against dollar on gloomy BoE outlook, European shares dips,Gold falls, Oil prices set to end week at multi-month lows on recession fears-August 5th,2022
America’s Roundup: Dollar falls ahead of Fed meeting,Wall Street closes on mixed note,Gold dips, Oil rises as Russian gas cut to Europe may encourage switching to crude-July 26th,2022
America’s Roundup: Dollar falls for third session, Wall Street closes sharply higher , Gold gains, Oil settles up 1% at 2-week high on worries about tight supply-July 20th,2022
Europe Roundup: Sterling slips as BoE delivers big rate hike but warns of long recession,European shares gains, Gold gains over 1%, Oil prices stabilize after drop to near 6-month low-August 4th,2022
America’s Roundup: Dollar bounces from two-week low, Wall Street closes higher, Gold prices dip, Oil falls on lackluster U.S. summer gasoline demand-July 21st,2022
Europe Roundup: Euro steady ahead of ECB's rate decision, European shares dips, Gold hits over 1-year low, Oil prices slump as stockpiles and rate hikes stoke demand fears-July 21st,2022
Europe Roundup:Euro gains on upbeat Eurozone GDP data, European shares rises, Gold gains,Oil prices rise as chances of OPEC+ supply boost dim-July 29th,2022
Europe Roundup: Sterling loses steam as traders turn to safe-haven currencies, European shares dips, Gold steadies, Oil slips as global demand concerns weigh, OPEC+ meeting eyed-August 2nd,2022
America’s Roundup: Dollar gains after stronger-than-expected payrolls data , Wall Street ends mixed, Gold dips 1%, Oil prices end week on multi-month lows on recession fears, Oil prices end week on multi-month lows on recession fears-August 6th,2022
America’s Roundup: Dollar slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,2022
Europe Roundup: Sterling dips as economic outlook darkens rate view, European shares mixed in cautious trade,Gold steadies, Oil rises for a second day on supply tightness concerns-July 26th,2022
America’s Roundup: Dollar rises on hawkish Fed, strong consumer expenditure data, Wall Street ends higher, Gold hits 3-week low, Oil steadies as investors question reserve release-November 25th,2021
•US Real Consumer Spending (Q3) 1.7% ,1.6% previous
•US GDP Sales (Q3) 0.0%,8.1% previous
•US GDP (QoQ) (Q3) 2.1%,2.1% forecast, 2.0% previous
•US PCE Prices (Q3) 5.3%, 5.3% previous
•US GDP Price Index (QoQ) (Q3) 5.9%, 5.7% forecast, 5.7% previous
•US Oct Core Durable Goods Orders (MoM) 0.5%,0.5% forecast, 0.5% previous
•US Oct Durable Goods Orders (MoM) -0.5%,0.2% forecast, -0.3% previous
•US Oct Durables Excluding Defense (MoM) 0.8%, -1.9% previous
•US Oct Retail Inventories Ex Auto 0.4%,0.7% previous
•US Oct Goods Trade Balance-82.89B,-97.03B previous
•US Initial Jobless Claims199K, 264K forecast, 268K previous
•US Continuing Jobless Claims 2,049K,2,045K forecast, 2,080K previous
•US Jobless Claims 4-Week Avg 252.25K,272.75K previous
•US Wholesale Inventories (MoM) 2.2%,1.4% previous
•US Oct Personal Income (MoM) 0.5%,0.2% forecast, -1.0% previous
•US Oct Real Personal Consumption (MoM) 0.7%,0.3% previous
•US PCE Price index (YoY) 5.0, 4.4 previous
•US Oct Personal Spending (MoM) 1.3%,1.0% forecast, 0.6% previous
•US Oct PCE price index (MoM) 0.6%,0.3% previous
•US Oct Core PCE Price Index (MoM) 0.4%,0.4% forecast, 0.2% previous
•US Oct Core PCE Price Index (YoY) 4.1%,4.1% forecast, 3.6% previous
•US Oct New Home Sales 745K ,800K forecast, 800K previous
•US Nov Michigan Consumer Sentiment 67.4,67.0 forecast, 66.8 previous
•US Nov Michigan Consumer Expectations 63.5 ,63.0 forecast, 62.8 previous
•US Nov Michigan 5-Year Inflation Expectations 3.00%,2.90% previous
•US Oct New Home Sales (MoM) 0.4%, 14.0% previous
•US Crude Oil Inventories 1.017M,1.398M forecast, -2.101M previous
•US Gasoline Inventories-0.603M, -0.461Mforecast, -0.708M previous
Looking Ahead Economic Data (GMT)
•10:30 Japan Leading Index (MoM) -1.6% previous
•10:30 Japan Leading Index 99.7 previous
•10:30 Japan Sep Coincident Indicator (MoM) -2.9% previous
Looking Ahead - Events, Other Releases (GMT)
• No significant events
EUR/USD: The euro fell on Wednesday after a survey showed German business morale deteriorated in November. German business sentiment worsened for the fifth month as supply challenges in manufacturing and a spike in coronavirus infections clouded the growth outlook for Europe’s largest economy. The Ifo institute said its business climate index fell to 96.5 from 97.7 in October.The euro fell 0.3% to its lowest level since early July 2020 at $1.1210. Immediate resistance can be seen at 1.1228(23.6%fib), an upside break can trigger rise towards 1.1274 (5DMA).On the downside, immediate support is seen at 1.1200(Psychological level), a break below could take the pair towards 1.1164(Lower BB).
GBP/USD: The British pound hit a fresh 11-month low against the dollar on Wednesday as expectations for a rate hike supported the greenback, while it was slightly higher against the euro.Investors remained focused on whether or not the Bank of England will raise interest rates at its December meeting, and wondered about the impact of the new wave of COVID-19 cases across the continent. The pound fell 0.4% versus the dollar, after hitting its lowest level since Dec. 22, 2020, at $1.3324.Immediate resistance can be seen at 1.3375(5DMA), an upside break can trigger rise towards 1.3401(38.2%fib).On the downside, immediate support is seen at 1.3316 (23.6%fib), a break below could take the pair towards 1.3261 (Lower BB).
USD/CAD: The Canadian dollar edged higher against its U.S. counterpart on Wednesday recouping some losses as risk sentiment stayed low ahead of the U.S. Thanksgiving holiday. Oil prices were largely steady as investors questioned the effectiveness of a U.S.-led release of oil from strategic reserves. The Canadian dollar was last trading 0.07% higher at 1.2653 to the greenback .Immediate resistance can be seen at 1.2690(38.2%fib), an upside break can trigger rise towards 1.2742(23.6%fib).On the downside, immediate support is seen at 1.2651(50%fib), a break below could take the pair towards 1.2609(61.8%fib)
USD/JPY: The dollar strengthened against the Japanese yen on Wednesday as robust U.S. economic data lifted the dollar. U.S. consumer spending increased more than expected in October, while price pressures also heated up during the month. Other data on Wednesday showed that the number of Americans filing new claims for unemployment benefits fell to the lowest level since 1969 last week, while gross domestic product data confirmed that growth slowed sharply in the third quarter. Strong resistance can be seen at 115.51 (23.6% fib), an upside break can trigger rise towards 116.00 (Psychological level).On the downside, immediate support is seen at 114.98(38.2%fib), a break below could take the pair towards 114.24 (50% fib).
European shares ended a four-day losing streak with shares of Telecom Italia leading gains, although fears around Europe's worsening COVID-19 situation and the prospect of severe restrictions restrained the market.
UK's benchmark FTSE 100 closed up by 0.27 percent, Germany's Dax ended down by 0.37 percent, France’s CAC finished the day down by 0.03 percent.
Wall Street ended higher on Wednesday, lifted by gains in Nvidia and other tech stocks, while Gap and Nordstrom shares tumbled following weak quarterly reports.
Dow Jones closed down by 0.03% percent, S&P 500 closed up by 0.23% percent, Nasdaq settled up by 0.44% percent.
U.S. Treasury yields hovered near highs for the year in choppy trading after data released Wednesday suggested the job market and consumer spending continue to improve.
The yield on 10-year Treasury notes was down 1.2 basis points to 1.653% after rising as much as 3 basis points earlier in the day, near its high for the year of 1.74% reached in March.
Gold prices slipped to a three-week low on Wednesday as robust U.S. economic data lifted the dollar and Treasury yields, with jitters around a sooner-than-expected interest rate hike from the Federal Reserve adding to the downbeat mood.
Spot gold was down 0.4% at $1,783.18 per ounce by 02:23 p.m. ET (1923 GMT), after falling to its lowest since Nov. 4 at $1,777.80 earlier in the session.
Oil prices were largely steady on Wednesday as investors questioned the effectiveness of a U.S.-led release of oil from strategic reserves and turned their focus to how producers will respond.
Brent crude settled down 6 cents, or 0.07%, at $82.25 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 11 cents, or 0.14%, at $78.39.