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
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 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: 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
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
Europe Roundup: Sterling strengthens against dollar after strong UK jobs data, European shares gain, Gold gains, Oil rises on EU's Russian oil ban effort, demand hopes-May 17th,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
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’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 dips on worsening global risk sentiment, European shares slip ,Gold prices dips, Oil prices fall on China's weak economic data-May 16th,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 higher in choppy trade as inflation data eyed, Wall Street ends mixed, Gold retreats, Oil settles below $100 a barrel on economic worries, strong dollar-May 11th,2022
America’s Roundup: U.S. dollar hits 20-year high as risk aversion dominates, Wall Street ends down, Gold extends decline ,Oil tumbles about 6% as China COVID lockdowns weigh-May 10th,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 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
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: U.S. dollar dips after U.S. inflation data, Wall Street closes higher, Gold gains,Oil rises 2% on U.S. crude drawdown, weaker dollar-January 13th,2022
•US Dec Real Earnings (MoM) 0.1%, -0.2% previous
•US Dec CPI Index, s.a 280.19, 278.88 previous
•US Dec Core CPI Index 284.76, 283.20 previous
•US Dec CPI (YoY) 7.0% ,7.0% forecast, 6.8% previous
•US Dec Core CPI (MoM) 0.6%,0.5% forecast, 0.5% previous
•US Dec Core CPI (YoY) 5.5%,5.4% forecast, 4.9% previous
•US Crude Oil Inventories -4.553M,-1.904M forecast, -2.144M previous
Looking Ahead - Economic Data (GMT)
• 05:20 Japan Dec PPI (MoM) 0.3% forecast, 0.6% previous
• 05:20 Japan Dec PPI (YoY) 8.8% forecast, 9.0% previous
• 05:20 Japan Foreign Bonds Buying -416.5B previous
• 06:00 Australia Home Loans (MoM) -4.1% previous
• 06:00 Australia Invest Housing Finance (MoM) 1.1% previous
•08:30 China Dec Imports (YoY) 26.3% forecast, 31.7% previous
•08:30 China Dec Exports (YoY) 20.0% forecast, 22.0% previous
•08:30 China Dec Trade Balance (USD) 74.50B forecast, 71.72B previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro firmed on Wednesday after U.S. Federal Reserve Chair Jerome Powell's comments at a congressional hearing were less hawkish than expected. The greenback slid to its weakest since mid-November against significant peers after Federal Reserve Chair Jerome Powell said it may take several months to make a decision on running down the central bank’s $9 trillion balance sheet. Some investors were relieved that the Fed did not sound more hawkish than the market had anticipated, and this helped euro gain against dollar. Immediate resistance can be seen at 1.1421 (23.6% fib), an upside break can trigger rise towards 1.1463 (15th Nov high).On the downside, immediate support is seen at 1.386 (38.2% fib), a break below could take the pair towards 1.1357(50%fib).
GBP/USD: Sterling steadied on Wednesday within striking distance to its recent highs versus the dollar and the euro, as investors focused on possible rate increases from the Bank of England.The pound has strengthened recently as investors ramped up expectations of further rate rises while Britain’s focus on rolling out booster vaccinations rather than returning to coronavirus lockdown measures boosted risk sentiment. The pound was up against the dollar at $1.3685. Immediate resistance can be seen at 1.3695 (23.6% fib), an upside break can trigger rise towards 1.3714 (Higher BB).On the downside, immediate support is seen at 1.3624 (38.2%fib), a break below could take the pair towards 1.3567(50%fib).
USD/CAD: The Canadian dollar strengthened to its highest level in nearly two months against its U.S. counterpart on Wednesday as oil prices rose and investors took in stride data showing U.S. inflation rose strongly in December. The loonie was trading 0.4% higher at 1.2500 to the greenback, after touching its strongest intraday level since Nov. 16 at 1.2490. The price of oil, one of Canada's major exports, added to recent gains on tight supply and easing concerns about the potential hit to demand from the Omicron coronavirus variant. U.S. crude prices were up nearly 1% at $82.01 a barrel. Immediate resistance can be seen at 1.4150 (Daily high), an upside break can trigger rise towards 1.4318 (Higher BB).On the downside, immediate support is seen at 1.4093 (21 DMA), a break below could take the pair towards 1.4003 (9 DMA).
USD/JPY: The dollar declined against the Japanese yen on Wednesday after data showed an expected surge in U.S. consumer prices in December, fell short of offering any new impetus for the Federal Reserve's policy normalization efforts . U.S. consumer prices surged in December, with the annual increase in inflation the largest in nearly four decades, which could bolster expectations that the Federal Reserve will start raising interest rates as early as March. The consumer price index increased 0.5% last month after advancing 0.8% in November, the Labor Department said on Wednesday.Strong resistance can be seen at 115.51 (38.2%fib), an upside break can trigger rise towards 115.85 (Jan 19th high).On the downside, immediate support is seen at 115.05 (5 DMA), a break below could take the pair towards 114.56 (61.8%fib).
European shares ended higher on Wednesday, supported by commodity-linked stocks which rose on hopes of more stimulus in major importer China, while easing bond yields took pressure off the technology sector.
UK's benchmark FTSE 100 closed up by 0.81 percent, Germany's Dax ended up by 0.43 percent, France’s CAC finished the day up by 0.75 percent.
U.S. stock indexes rose on Wednesday after data showed that while U.S. inflation was at its highest in decades, it largely met economists' expectations, cooling some fears that the Federal Reserve would have to pull back support even more forcibly than already expected.
Dow Jones closed down by 0.11% percent, S&P 500 closed up by 0.28% percent, Nasdaq settled up by 0.23% percent.
Longer-dated U.S. Treasury yields dipped on Wednesday after a reading on inflation was largely in line with expectations and did not alter views on the path of Federal Reserve policy.
Benchmark 10-year yields dipped as more aggressive rate hikes are also seen as likely to dent growth and inflation longer-term. The yield had reached 1.808% on Monday, its highest since Jan. 21, 2020.
Oil prices hit two-month highs on Wednesday on tight supply as crude inventories in the United States, the world's top consumer, fell to their lowest since 2018, and as the dollar weakened and worries eased about the Omicron coronavirus variant.
U.S. crude inventories fell 4.6 million barrels last week to 413.3 million barrels, their lowest since October 2018
Gold firmed on Wednesday as data showing U.S. inflation was within expectations dented the dollar and prompted buying from investors who seemed to have priced in the Federal Reserve's likely interest rate hike trajectory.
Spot gold was last up 0.2% at $1,825.83 per ounce by 14:11 ET (1911 GMT), extending gains after rising the most since mid-December on Tuesday. U.S. gold futures settled up 0.5% at $1,827.3.