Europe Roundup: Euro rises, focus on rate hike bets , European shares extend losses, Gold gains, Oil prices extend losses on fears of economic slowdown-May 19th,2022
America’s Roundup: Dollar slips from 2-decade highs, Wall Street ends mixed, Gold ticks up, Oil settles higher on demand optimism, gasoline strength-May 17th,2022
America’s Roundup: Dollar index slips from 20-year high, Wall Street ends down, Gold gains, Oil gains 1.5%, posts another weekly rise on supply concerns-May 7th,2022
Europe Roundup: Sterling falls to fresh lows against dollar, European shares slide, Gold slips 1%, Oil prices fall, weighed down by dollar, China lockdowns-May 9th,2022
America’s Roundup: Dollar dips as Powell pushes back against 75 bp hike, Wall Street closes with sharp gains, Gold rises 1%, Oil jumps $5 a barrel as EU nears ban on Russian oil-May 5th,2022
America’s Roundup: Dollar slips ahead of Fed's policy decision, Wall Street ends higher, Gold prices gain, Oil slides as China lockdowns outweigh proposed EU Russia oil ban-May 4th,2022
Europe Roundup: Euro’s gains fades on bleak German industrial orders, European stocks rally, Gold rises 1%,Oil climbs on supply jitters as EU plans Russian oil ban-May 5th,2022
Europe Roundup: Sterling steadies near 21-month low ahead of BoE, Fed, European shares falls,Gold steady, Oil jumps 4% as EU proposes ban on Russian oil-May 4th,2022
America’s Round: Dollar gains ahead Of Fed Meeting, Wall Street ends higher, Gold prices slide 2%, Oil settles up on distillate strength, supply concerns-May 3rd,2022
America’s Roundup: Dollar slips after CPI data as Fed expectations in check, Wall Street ends sharply lower, Gold bounces, Oil up more than 5%, as Russia-EU energy quarrel intensifies-May 12th,2022
Europe Roundup: Sterling steadies near June 2020 low, European shares gains, Gold recovers, Oil drops as economic worries, strong dollar weigh-May 10th,2022
Europe Roundup: Pound falls as UK inflation hits 40 year high, European shares inch lower , Gold gains, Oil prices rise on China demand recovery expectations, supply concerns-May 18th,2022
America’s Roundup: Dollar rally stalls as risk appetite returns, Wall Street ends higher, Gold slips, Oil falls 2% on Powell comments, hopes for Venezuela supply-May 18th,2022
Europe Roundup: Euro falls back towards 2017 lows on Russian energy crisis, European shares gain, Gold falls, Oil rises but set for weekly drop as fears of weaker demand limit gains-May 13th,2022
America’s Roundup: Dollar dips to end trading week but set for weekly gain,Wall Street rallies, Gold falls, Oil jumps 4% as U.S. gasoline prices hit record high-May 14th,2022
Europe Roundup: Sterling gains on upbeat retail sales data, European shares climb, Gold hits one-week high , Oil steady as oil supply risks meet economic headwinds-May 20th,2022
America’s Roundup: Dollar steadies ,Wall Street edges higher, Gold slides to 2-week low, Oil extends rally on Kazakhstan unrest and Libyan outages-January 7th, 2022
• US Dec Challenger Job Cuts 19.052K,14.875K previous
• US Challenger Job Cuts (YoY) -75.3%,-77.0% previous
• German Dec CPI (MoM) 0.4% forecast, -0.2% previous
• US Continuing Jobless Claims 1,754K, 1,688K forecast, 1,716K previous
• US Jobless Claims 4-Week Avg 204.50K, 199.25K previous
• US Initial Jobless Claims207K, 197K, 198K previous
• US Imports 304.40B, 290.70B previous
• US Exports 224.20B, 223.60B previous
• Canada Nov Trade Balance 3.13B, 2.03B forecast, 2.09B previous
• Canada Nov Exports 58.57B, 56.18B previous
• US Dec ISM Non-Manufacturing Prices 82.5, 82.3 previous
• US Dec ISM Non-Manufacturing Employment 54.9, 56.5 previous
• US Dec ISM Non-Manufacturing Business Activity 67.6, 71.0 forecast, 74.6 previous
• US Nov Factory Orders (MoM) 1.6%, 1.5% forecast 1.0% previous
• US Nov Factory orders ex transportation (MoM) 0.8% ,1.6% previous
• US Dec ISM Non-Manufacturing PMI 62.0, 66.9 forecast, 69.1 previous
Looking Ahead - Economic Data (GMT)
•23:30 Japan Foreign Bonds Buying -1,588.5B previous
•23:30 Japan Foreign Investments in Japanese Stocks -841.3B previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro was little changed against dollar on Thursday as investors ramped up expectations for a European Central Bank rate hike, a day after minutes from the Federal Reserve's last meeting pointed to faster-than-expected U.S. rate rises. Money market futures dated to the ECB's October meeting, showed a 10 basis point rate hike was almost fully priced in.Markets also priced in 15 basis points worth of tightening by December, versus around 13 bps on Wednesday . Investors will now look ahead to a key U.S. jobs report on Friday, which will follow new euro zone inflation data that the European Central Bank will watch closely. The euro stood broadly unchanged, slightly above the $1.13 mark. Immediate resistance can be seen at 1.1340(23.6%fib), an upside break can trigger rise towards 1.1382 (Higher BB).On the downside, immediate support is seen at 1.1303 (38.2%fib), a break below could take the pair towards 1.1277 (50%fib).
GBP/USD: The pound fell versus the dollar on Thursday, pulling back from some its recent gains in a dip driven by dollar strength following the release of more hawkish than expected Federal Reserve minutes.Risk-sensitive currencies such as the British pound, Australian dollar and Canadian dollar were down on the day versus the U.S. dollar, which was boosted late on Wednesday and overnight by the minutes of the Fed's December meeting. The pound was down 0.01% against the stronger dollar at $1.3532 .Immediate resistance can be seen at 1.3558 (23.6%fib), an upside break can trigger rise towards 1.3599 (Jan 5th high).On the downside, immediate support is seen at 1.3526(5DMA), a break below could take the pair towards 1.3488(38.2%fib).
USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Thursday as the sell-off in stocks on the prospect of faster U.S. interest rate hikes subsided and data showed Canadian exports climbing to a record high. Canada posted a trade surplus of C$3.1 billion in November, the largest since September 2008, helped by a 3.8% increase in exports. Canada's employment report for December, due on Friday, could offer further clues about the strength of its economy. The Canadian currency was trading 0.2% higher at 1.2723 to the greenback, or 78.60 U.S. cents, after earlier hitting its weakest level since Dec. 29 at 1.2813.Immediate resistance can be seen at 1.2737(38.2%fib), an upside break can trigger rise towards 1.2807 (23.6%fib).On the downside, immediate support is seen at 1.2689 (50%fib), a break below could take the pair towards 1.2637(61.8%fib).
USD/JPY: The U.S. dollar took a breather against yen after hiting 5-year high on Thursday, after riding the tailwind of minutes from the Federal Reserve's December policy meeting which bolstered expectations of a U.S. rate hike as early as March. The meeting minutes showed officials had discussed shrinking the Fed's overall asset holdings as well as raising interest rates sooner than expected to fight inflation. The dollar index which measures the greenback against major peers was unchanged on the day at 96.17 after creeping up closer to a 14-month high of 96.93. Strong resistance can be seen at 116.23(23.6%fib), an upside break can trigger rise towards 117.00 (Psychological level).On the downside, immediate support is seen at 115.67 (38.2%fib), a break below could take the pair towards 115.18(50%fib).
European shares were in red on Thursday after the Federal Reserve signalled the possibility of faster-than-expected U.S. rate hikes and stimulus withdrawal.
UK's benchmark FTSE 100 closed down by 0.88 percent, Germany's Dax ended down by 1.35 percent, France’s CAC finished the day up by 1.73 percent.
Wall Street's headache over the potential of a relatively fast pullback from stimulus by the U.S. Federal Reserve lingered Thursday as stocks sold off again and government bond yields mostly marched higher.
Dow Jones closed down by 0.47 percent, S&P 500 closed down by 0.10 percent, Nasdaq settled down by 0.13 % percent.
U.S. Treasury yields on most maturities rose again on Thursday as investors fretted over the Fed’s more hawkish stance, surging inflation and a deluge of supply.
Benchmark 10-year yields rose to 1.7530%, the highest since March 2021, and were last up slightly on the day to 1.7246%. U.S. 2-year yields, which track near-term rate expectations, rose to the highest since early March 2020
Gold prices slid to a two-week low on Thursday, pressured by rallying U.S. Treasury yields after the Federal Reserve signalled quicker increases to interest rates.
Spot gold was last down 1.2% at $1,788.25 an ounce by 13:47 ET (1847 GMT), after earlier hitting its lowest since Dec. 22. U.S. gold futures settled 2% lower at $1,789.20.
Oil prices rose about 2% on Thursday, extending their new year's rally, on escalating unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya.
Brent crude futures rose $1.19 cents, or 1.5%, to settle at $81.99 a barrel, after hitting their highest since late November. U.S. West Texas Intermediate (WTI) crude gained $1.61, or 2.1%, to $79.46. The contract touched a session high of $80.24.