America’s Roundup: Dollar retreats, Wall Street closes higher, Gold rallies, Oil jumps about $4 as OPEC+ weighs biggest output-October 4th,2022
America’s Roundup: Dollar dips, Wall Street rallies, Gold hits 3-week high, Oil jumps more than 3% ahead of OPEC+ meeting on supply cuts-October 5th,2022
Europe Roundup: Pound drops more than 1% as Bank of England steps into bond market , European shares slide, Gold slides to 2-1/2 year low, Oil prices stable as soaring dollar offset by U.S. output outages-September 28th,2022
America’s Roundup: Dollar dips as U.S. rate hike jitters restrain gains, Wall Street flat, Gold dips , Oil rises 1% on supply concerns, expectations for fuel switching-September 15th,2022
Europe Roundup: Sterling rises for sixth straight session,European shares rally, Gold rises, Oil prices rise ahead of OPEC+ meeting to discuss supply cuts-October 4th,2022
Europe Roundup: Sterling languishes near 37-year low vs dollar European shares falls, Gold dips, Oil falls more than 2% on demand fears-September 19th,2022
America’s Roundup: Dollar inches up vs yen as investors expect Fed will stay aggressive, U.S. stocks slip ,Gold falls, Oil slumps over 3% on demand concerns-September 16th,2022
America’s Roundup: Dollar flat, sterling rises after week of turmoil, Wall Street ends lower, Gold rise to a one-week high, Oil falls but notches weekly gain as OPEC+ considers output cut-October 1st,2022
Europe Roundup: Euro falls after inflation data, European shares rise,Gold gains, Oil set for weekly gain as OPEC+ considers output cut-September 30th,2022
America’s Roundup: Dollar gains ahead of Fed rate decision,Wall Street falls, Gold retreats, Oil prices down, investors expect big Fed rate hike-September 21st,2022
Europe Roundup: Sterling falls as PM Truss defends economic plans, European shares tumble, Gold falls, Oil rises towards $90 as OPEC+ considers output cut-September 29th,2022
Europe Roundup: Sterling falls to 37-year low against dollar, European stocks fall, Gold dips, Oil steadies but remains on track for weekly decline-September 16th,2022
Europe Roundup: Sterling idles near 37-year low ahead of Fed, BoE meetings, European shares slips in choppy trade,Gold dips, Oil prices up but expected Fed rate hike paints bearish picture-September 20th, 2022
Europe Roundup: Sterling helped by tax cut U-turn, Gold firms, Oil jumps more than $3 as OPEC+ weighs biggest output cut since 2020-October 3rd,2022
America’s Roundup: Dollar little changed , Wall Street ends mixed, Gold bounces from 2-1/2-year low, Oil rallies from Monday's nine-month lows-September 28th,2022
America’s Roundup: U.S. dollar advances as markets brace for hefty Fed rate hike,Wall Street ends choppy session higher, Gold falls, Oil edges up as supply woes outweigh demand and rate hike worries-September 20th,2022
Europe Roundup: Euro dips against dollar ahead of U.S. payrolls data, European stocks inch higher, Gold hits 2-week low, Oil rises towards $72 on demand prospects-June 4th,2021
•U.S. nonfarm payrolls due at 1230 GMT
•German IHS May Markit Construction PMI 44.5, 46.2 previous
•UK May Construction PMI 64.2, 62.3 forecast, 61.6 previous
•EU Apr Retail Sales (MoM) -3.1%,-1.2% forecast, 2.7% previous
•EU Apr Retail Sales (YoY) 23.9%, 25.5% forecast , 12.0% previous
•Irish GNP (YoY) (Q1) 2.9%,1.0% previous
•Irish GNP (QoQ) (Q1) -1.0%,8.5% previous
•Irish GDP (YoY) (Q1) 11.8%,1.5% previous
• Irish GDP (QoQ) (Q1) 7.8%, -5.1% previous
Looking Ahead - Events, Other Releases (GMT)
•12:30 US May Unemployment Rate 5.9% forecast,6.1% previous
•12:30 Canada May Unemployment Rate 8.2% forecast, 8.1% previous
•12:30 US May Average Hourly Earnings (YoY) (YoY) 1.6% forecast, 0.3% previous
•12:30 US May Participation Rate 64.9% previous
•12:30 US May Participation Rate 61.7% previous
•12:30 US May U6 Unemployment Rate 10.4% previous
•12:30 Canada May Employment Change -20.0K forecast, -207.1K previous
•12:30 US May Average Weekly Hours 35.0 forecast, 35.0 previous
•12:30 US May Government Payrolls 48.0K previous
•12:30 US May Average Hourly Earnings (MoM) 0.2% forecast, 0.7% previous
•12:30 US Labor Productivity (QoQ) (Q1) -2.0% previous
•12:30 US May Part Time Employment Change -77.8K previous
•12:30 US May Full Employment Change -129.4K previous
•12:30 US May Manufacturing Payrolls 24K forecast, -18K previous
•12:30 US May Private Nonfarm Payrolls 600K forecast, 218K previous
•12:30 US May Nonfarm Payrolls 650K forecast, 266K previous
•14:00 Canada May Ivey PMI 60.6 previous
•14:00 US Apr Factory Orders (MoM) -0.2% forecast, 1.1% previous
•14:00 US Apr Durables Excluding Defense (MoM) 0.5% previous
•14:00 US Apr Factory orders ex transportation (MoM) 1.7% previous
•14:00 US May Ivey PMI n.s.a 59.9 previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro declined on Friday as dollar rose ahead of the U.S. might employment report, which could provide clues regarding when Federal Reserve’s bond-buying tapering discussions would start. Thursday’s ADP National Employment Report showing personal payrolls accumulated by 978,000 jobs last month, the largest increase since June 2020, triggered rise in dollar. Immediate resistance can be seen at 1.2143(38.2% fib), an upside break can trigger rise towards 1.2173 (5DMA).On the downside, immediate support is seen at 1.2098 (50%fib), a break below could take the pair towards 1.2053(61.8%fib).
GBP/USD: The British pound stabilized against the dollar on Friday, offsetting some of the previous day's losses, despite the currency hovering at five for its first week of losses due to the dollar's strength over the past week. A series of strong releases of US economic data has pushed the dollar index, which measures the dollar against a basket of currencies, to its highest level since mid-May this week. The gains for the dollar come as investors expect the Federal Reserve to react to the warming economy and tighten monetary policy earlier than expected. Immediate resistance can be seen at 1.4150 (5DMA),an upside break can trigger rise towards 1.4194 (23.6%fib).On the downside, immediate support is seen at 1.4071 (38.2%fib), a break below could take the pair towards 1.4000(Psychological level).
USD/CHF: The dollar was little changed against the Swiss franc on Friday as investors awaited U.S. payrolls data. After U.S. private jobs data jumped more than expected on Thursday, attention turned to official non-farm payrolls data due later on Friday to gauge the strength of the U.S. recovery and the possibility of policy tightening. At (GMT 12:16), greenback gained 0.01% versus the Swiss franc to 0.9033. Immediate resistance can be seen at 0.9055(Daily high), an upside break can trigger rise towards 0.9100 (50%fib).On the downside, immediate support is seen at 0.9027 (38.2%fib), a break below could take the pair towards 0.8998(5 DMA).
USD/JPY: The dollar dipped against yen on Friday as traders waited for U.S. non-farm payrolls information later in the session. Currency investors are trying to find indications of the strength of the U.S. economic recovery and also possibility of Federal Reserve tightening its monetary policy, that is seen as positive for the dollar. The consensus forecast for the data, due at 1230 GMT, is that about 650,000 jobs have been added in May. Strong resistance can be seen at 110.30 (23.6%fib), an upside break can trigger rise towards 111.00 (Psychological level).On the downside, immediate support is seen at 110.04(Daily low), a break below could take the pair towards 109.70(38.2%fib).
European stocks traded cautiously ahead of the release of US employment data on Friday, and hopes of economic recovery set the benchmark for earnings in the third week.
At (GMT 12:15),UK's benchmark FTSE 100 was last trading down at 0.26 percent, Germany's Dax was up by 0.06 percent, France’s CAC finished was down by 0.03 percent.
Gold was set for its biggest weekly decline since March on Friday, pressured by a firm dollar and upbeat U.S. data that pointed to a strengthening labor market, raising expectations for strong nonfarm payrolls data.
Spot gold was little changed at $1,870.07 per ounce by 1118 GMT, after hitting its lowest since May 19 at $1,855.59 earlier in the session.U.S. gold futures traded 0.1% lower at $1,871.10 per ounce.
Oil extended gains above $71 a barrel on Friday, trading close to a two-year high as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the globe.
Brent crude rose 12 cents, or 0.2%, to $71.43 a barrel by 1142 GMT. It reached an intra-day high of $71.99 on Thursday, the highest since May 2019. U.S. West Texas Intermediate crude was up 23 cents, or 0.3%, at $69.04.
What is a semiconductor? An electrical engineer explains how these critical electronic components work and how they are made