Europe Roundup: Euro jumps on ECB rate rise talk, European shares dips, Gold prices firm, Oil rises as supply concerns persist-May 6th, 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
America’s Roundup: Dollar gains as inflation jitters return, Wall Street ends sharply lower, Gold erases losses, Oil falls 2.5% as U.S. refiners ramp up output-May 19th,2022
America’s Roundup: Dollar regains footing after tumble, Wall Street tumbles, Gold retreats, Oil edges up on supply jitters as EU plans Russian oil ban-May 6TH, 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
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
America’s Roundup: Dollar hits two-decade high, Wall Street ends mixed, Gold retreats, Oil settles mixed amid Beijing lockdown fears, tight supplies-May 13th,2022
Europe Roundup: Euro dips after weak data, European shares dips, Gold slips toward 2-1/2-month lows ,Oil slips on China growth worries, EU weighs Russian crude ban-May 2nd,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
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 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 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: Euro holds near five-year low ahead of ECB's Lagarde speech, European shares gain, Gold falls to 2-1/2-month trough, Oil slips on China demand worries, while EU weighs Russia oil ban-May 3rd,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 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
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 ticks higher in thin trading, Wall Street closes down, Gold gains, Oil streadies ahead of OPEC+ meeting next week-December 31st,2021
•US Continuing Jobless Claims 1,716K,1,868K forecast, 1,859K previous
•US Jobless Claims 4-Week Avg 199.25K, 206.25K previous
•US Initial Jobless Claims 198K, 208K forecast ,205K previous
•US Dec Chicago PMI 63.1, 62.0 forecast ,61.8 previous
•US Natural Gas Storage -136B,-125B forecast , -55B previous
Looking Ahead - Economic Data (GMT)
• No data ahead
Looking Ahead - Economic events and other releases (GMT)
• No significant events
EUR/USD: The euro fell in thin holiday trading on Thursday as surging cases of coronavirus weighed on single currency. Omicron coronavirus infection cases continue to be in the spotlight, but sentiment is being driven by signs of milder symptoms and fewer hospitalizations, which suggests this strain poses a lower risk to the economy than previous variants. Markets seem confident that-though it is more contagious-the Omicron variant of coronavirus will do little to derail the economic recovery from the Covid-19 pandemic. Immediate resistance can be seen at 1.1339 (38.2%fib), an upside break can trigger rise towards 1.1366 (23.6%fib).On the downside, immediate support is seen at 1.1321(50%fib), a break below could take the pair towards 1.1296(61.8%fib).
GBP/USD: Sterling strengthened against dollar on Thursday as investors turned back towards riskier currencies and equities. Sterling reached as high as $1.3505, its best mark in six weeks, before meeting resistance and falling back. Investors cheered a U.S. Labor Department report that the number of Americans filing for new unemployment claims dropped to a seasonally adjusted 198,000 in the week leading up to Christmas, from a revised 206,000 a week earlier. Economists polled had forecast weekly applications would rise to 208,000. Immediate resistance can be seen at 1.3508(23.6%fib), an upside break can trigger rise towards 1.3547(Higher BB).On the downside, immediate support is seen at 1.3445(5DMA), a break below could take the pair towards 1.3435(38.2%fib).
USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Thursday as easing worries over the impact of the Omicron variant boosted sentiment, although weaker crude prices caped further gains. Governments, despite coronavirus cases reaching record highs, are attempting to prevent economic damage by loosening isolation requirements rather than resorting to lockdowns, which boosted sentiment.Oil prices eased on Thursday after the world's top importer China cut the first batch of crude import allocations for 2022. Immediate resistance can be seen at 1.2786 (38.2%fib), an upside break can trigger rise towards 1.2845 (23.6%fib).On the downside, immediate support is seen at 1.2735 (50%fib), a break below could take the pair towards 1.2682 (61.8%fib).
USD/JPY: The dollar rose higher against the Japanese yen on Thursday as a dip in weekly jobless claims data helped ease fears that a surge of COVID-19 infections would curb the economic recovery. New claims for U.S. unemployment benefits fell in the week leading up to Christmas and benefits rolls slid to their lowest level of the pandemic era the previous week, data showed, signaling no impact on employment from the rapidly spreading Omicron variant. The yen has run into broad year-end selling over the past week, with the dollar reaching its highest since mid-November at 115.06 yen. Strong resistance can be seen at 115.19 (23.6% fib), an upside break can trigger rise towards 115.45 (Higher BB).On the downside, immediate support is seen at 114.83 (5 DMA), a break below could take the pair towards 114.60 (38.2% fib).
European shares declined on Thursday after a sobering warning from the World Health Organization that the coronavirus may never go away and signals that top central banks may have hit the bottom with interest rates.
UK's benchmark FTSE 100 closed down by 0.24 percent, Germany's Dax ended up by 0.21 percent, France’s CAC finished the day up by 0.16 percent.
Wall Street closed lower on Thursday, retreating late in thin holiday volume from record highs set early in the session on strong U.S. data including a drop in weekly claims for U.S. unemployment benefits.
Dow Jones closed down by 0.25% percent, S&P 500 closed down by 0.30 % percent, Nasdaq settled down by 0.16% percent.
Benchmark 10-year U.S. Treasury yields dipped from one-month highs on Thursday, with no major catalysts to drive market direction and many traders out before the New Year’s holiday.
Benchmark 10-year note yields were last at 1.52%, after reaching 1.56% on Wednesday, the highest since Nov. 29. The yields are on track for the largest yearly increase since 2013, of 60 basis points.
Oil prices rose slightly on Thursday on expectations that fuel demand held up despite soaring Omicron coronavirus infections and that OPEC and its allies would continue to increase imports only incrementally.
Brent crude futures settled at $79.32 a barrel, up 9 cents, or 0.11%. U.S. crude futures rose 43 cents, or 0.56%, to settle at $76.9 a barrel, the seventh straight session of gains.
Gold prices rose in thin trade on Thursday, giving up earlier losses as the U.S. Treasury yields eased from one-month highs, offsetting pressure from a firm dollar.
Spot gold was last up 0.5% at $1,813.16 per ounce by 1347 EDT (1847 GMT), while U.S. gold futures settled up 0.5% at $1,814.10.