Europe Roundup; Sterling steadies near 5-week highs against dollar, European shares dips,Gold little changed, Oil hits 6-week high as U.S. Gulf braces for another hurricane-September 14th,2021
America’s Roundup: Dollar eases ahead US payrolls data, Wall Street ends higher, Gold eases,Oil rises on economic recovery hopes, weaker dollar-September 3rd,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
Europe Roundup: Sterling on the back foot amid UK recovery worries, Gold edges up, Oil at one-week high as U.S. supply concerns dominate-September 13th,2021
America’s Roundup: Dollar dips on weak U.S. jobs growth, Wall Street mixed, Gold climbs, Oil slips as COVID variant weighs on U.S. jobs-September 4th,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
Europe Roundup: Euro near 1-month peak versus dollar , European stocks edge higher, Gold firms, Oil rises on declining inventories and weaker dollar-September 2nd,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 softens after ADP data, Wall Street ends mixed,Gold little changed, Oil steadies, OPEC+ sticks to gradual output hikes-September 2nd,2021
America’s Roundup: U.S. dollar strengthens against rivals as Fed's taper talk gathers pace, Wall Street ends mixed, Gold gains, Oil rises to six-week high as U.S. supply concerns dominate-September 14th,2021
America’s Roundup: U.S. dollar declines after U.S. Fed Chair Powell comments, Wall Street rises, Gold jumps, Oil posts biggest weekly gains in over a year ahead of Hurricane Ida-August 28th,2021
America’s Roundup: Dollar brushes aside jobs report losses, Gold eases, Oil falls after Saudi price cuts-September 7th,2021
Europe Roundup: Euro inches higher against dollar ahead of Powell's speech,European stocks dips,Gold consolidates, Oil rises as storm approaches Gulf of Mexico production hub-August 27th,2021
Europe Roundup: Sterling steadies against dollar, European stocks gain, Gold little changed, Oil price climbs before OPEC+ policy meeting-September 1st,2021
Europe Roundup: Sterling slips ahead of vote on new UK tax, European stocks fall, Gold edge higher, Oil climbs on slow U.S. supply return after Hurricane Ida-September 8th,2021
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
America’s Roundup: Dollar weakens, Wall Street closes at record highs,Gold gains,Oil prices rise over 2% as U.S. inventories decline-10th,July 2021
• Canada June Employment Change 230.7K,195.0K forecast, -68.0K previous
• Canada Unemployment Rate 7.8%, 7.7% forecast, 8.2% previous
• Canada June Participation Rate 65.2%,64.6% previous
• Canada June Part Time Employment Change263.9K, -54.2K previous
• Canada June Full Employment Change-33.2K, -13.8K previous
• US May Wholesale Trade Sales (MoM) 0.8%,0.8% previous
• US Wholesale Inventories (MoM) 1.3%,1.1% previous
Looking Ahead - Economic Data (GMT)
•No data ahead
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro strengthened against dollar on Friday as investors took stock of the European Central Bank setting a new inflation target on Thursday after an 18-month strategy review. European Central Bank policymakers debated a cut in stimulus at their June 10 meeting as the recovery picked up pace but eventually found broad agreement to maintain an elevated level of support, the accounts of the meeting showed on Friday.The minutes came after the ECB announced on Thursday it would embark on a fundamental transformation of Europe’s most powerful financial institution, setting a new inflation target among other steps.The euro extended gains on top of a 0.45% jump on Thursday, rising 0.27% to $1.1876. Immediate resistance can be seen at 1.1868 (38.2%fib), an upside break can trigger rise towards 1.1935 (50%fib).On the downside, immediate support is seen at 1.1837 (5DMA), a break below could take the pair towards 1.1798(23.6%fib).
GBP/USD: Sterling bounced back versus a weakening dollar on Friday and was set for its best day in a week as risk currencies tried to recover after being hurt by a broader shakeout in FX markets. A shakeout in foreign exchange markets on Thursday saw riskier currencies such as the pound fall and safe havens gain as a surge in cases of the Delta coronavirus variant hit global sentiment. Sterling rose to $1.3873 on Friday against a softening dollar. It was 0.3% up by 1525 GMT in a tentative move to cut losses from the previous session. Immediate resistance can be seen at 1.3919 (50%fib), an upside break can trigger rise towards 1.3985 (61.8%fib).On the downside, immediate support is seen at 1.3851 (38.2%fib), a break below could take the pair towards 1.3821 (5DMA).
USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Friday, clawing back some of this week's decline, as domestic jobs data supported expectations for further reduction of the Bank of Canada's asset purchase program.Canada added 231,000 jobs in June, more than expected, bringing employment within 1.8% of pre-pandemic levels, as public health restrictions were eased in several regions of the country, Statistics Canada data showed. The Canadian dollar was trading 0.6% higher at 1.2455 to the greenback, or 80.29 U.S. cents. On Thursday, the currency hit a 2-1/2 month low at 1.2590, while it was down 1.1% for the week. Immediate resistance can be seen at 1.2481(38.2%fib), an upside break can trigger rise towards 1.2560 (23.6%fib).On the downside, immediate support is seen at 1.2417 (50%fib), a break below could take the pair towards 1.2359 (61.8%fib).
USD/JPY: The dollar strengthened against dollar on Friday as riskier currencies were favored, with the rally in U.S. Treasuries running out of steam and global stock markets steadying. The rise in yields supported riskier assets and currencies, with global stock markets rising and the commodity-linked Australian and New Zealand dollars catching a bid. The yen, perceived as a safe-haven currency, declined as risk appetite began to recover. The yen eased 0.39% to 110.18 , giving back some of its gains against the greenback from Thursday, when it had its biggest daily rise since November. Strong resistance can be seen at 110.06(50%fib), an upside break can trigger rise towards 110.43(61.8%fib).On the downside, immediate support is seen at 109.67(38.2%fib), a break below could take the pair towards 109.19 (23.6%fib).
European stocks jumped more than 1% on Friday, posting their best session in two months and erasing all of this week’s losses, as investors sought bargains after one of the worst sell-offs this year on global economic recovery worries.
UK's benchmark FTSE 100 closed up by 1.30 percent, Germany's Dax ended up by 1.73 percent, France’s CAC finished the day down by 2.07 percent.
U.S. stocks rallied on Friday and the S&P 500 hit a record high as financials and other economically focused sectors rebounded after a selloff sparked by growth worries earlier in the week.
Dow Jones closed up by 1.30% percent, S&P 500 closed up by 1.13% percent, Nasdaq settled up by 0.98% percent.
Treasury yields extended their rise on Friday while the three major U.S. stock indexes rallied to record closing highs, as markets relaxed a bit from fears of a slowing pace of economic recovery from COVID-19 that dominated trading for much of the week.
The yield on 10-year Treasury notes rose 7.7 basis points to 1.365% on Friday.
Gold rose on Friday, heading for its best week in seven, bolstered by a weaker dollar and concerns that the spread of the Delta variant of the coronavirus could slow a global economic recovery.
Spot gold rose 0.5% to $1,810.99 per ounce by 2:44 p.m. (1844 GMT), and was up 1.4% for the week. U.S. gold futures settled 0.6% higher at $1,810.6.
Oil prices rose for a second day on Friday as the market reacted to falling U.S. inventories, and signs of strong Asian demand from both China and India added support.
Brent crude oil futures were up $1.43, 1.93%, at $75.55. U.S. West Texas Intermediate futures were up $1.62, or 2.2%, at $74.56.