America’s Roundup: Dollar slips after dismal U.S. data ,Wall Street closes lower, Gold gains, U.S. crude ends below $95/bbl as EU tweaks Russian oil sanctions-July 23rd,2022
America’s Roundup: Dollar falls after Fed raises rates by 75 bps ,Wall Street ends higher, Gold ticks up, Oil settles higher on U.S. inventory drop, Russia gas cuts-28th July, 2022
Europe Roundup: British pound rises on weakening US dollar, political risks limit rally, European shares gain,Gold firms, Oil gians as weak greenback and tight supply supports-July 18th,2022
Europe Roundup: Euro falls as gloomy PMIs cloud prospects for future ECB hikes, European shares edge higher, Gold little changed, Oil prices fall as Libya resumes output, global demand outlook darkens-July 22nd,2022
America’s Roundup: Dollar bounces from two-week low, Wall Street closes higher, Gold prices dip, Oil falls on lackluster U.S. summer gasoline demand-July 21st,2022
Europe Roundup: British pound falls against dollar on gloomy BoE outlook, European shares dips,Gold falls, Oil prices set to end week at multi-month lows on recession fears-August 5th,2022
America’s Roundup: Dollar slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,2022
Europe Roundup: Sterling dips as economic outlook darkens rate view, European shares mixed in cautious trade,Gold steadies, Oil rises for a second day on supply tightness concerns-July 26th,2022
Europe Roundup: Euro dips against dollar ahead of US GDP data, European shares mixed, Gold hits a three-week high, Oil extends gains as risk appetite improves, U.S. inventories fall-July 28th,2022
Europe Roundup: Euro holds near 2-week high,European shares falls, Gold steadies, Oil prices slip ahead of U.S. inventory data-July 20th,2022
America’s Roundup: Dollar gains on U.S. service sector data, Wall Street rallies, Gold little changed, Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build-August 4th,2022
America’s Roundup: Dollar gains after stronger-than-expected payrolls data , Wall Street ends mixed, Gold dips 1%, Oil prices end week on multi-month lows on recession fears, Oil prices end week on multi-month lows on recession fears-August 6th,2022
Europe Roundup: Sterling loses steam as traders turn to safe-haven currencies, European shares dips, Gold steadies, Oil slips as global demand concerns weigh, OPEC+ meeting eyed-August 2nd,2022
America’s Roundup: Dollar dips ahead of U.S. Fed meeting's outcome, Wall Street ends lower, Gold virtually unchanged, Oil settles down on lower U.S. consumer confidence –July 27th,2022
Europe Roundup: Euro steady ahead of ECB's rate decision, European shares dips, Gold hits over 1-year low, Oil prices slump as stockpiles and rate hikes stoke demand fears-July 21st,2022
Europe Roundup:Euro gains on upbeat Eurozone GDP data, European shares rises, Gold gains,Oil prices rise as chances of OPEC+ supply boost dim-July 29th,2022
Europe Roundup: Euro dips as dollar stands tall ,European stocks slips, Gold ticks up, Oil prices rise as tight supply counters China COVID, recession worries-June 14th,2022
•UK May Claimant Count Change -19.7K ,-49.4K forecast, -65.5K previous
•UK Apr Unemployment Rate 3.8% ,3.6% forecast, 3.7% previous
•UK Apr Average Earnings Index +Bonus 6.8% ,7.6% forecast, 7.0% previous
•German May CPI (YoY) 7.9%,7.9% forecast, 7.4% previous
•UK Apr Employment Change 3M/3M (MoM) 177K ,105K forecast,83K previous
•EU Apr Industrial Production (MoM) -2.0% forecast ,-1.8% previous
• German Jun ZEW Current Conditions -28.0 ,-31.0 forecast , -36.5 previous
•EU Jun ZEW Economic Sentiment -28.0 ,29.5 previous
• German Jun ZEW Economic Sentiment -27.6 , -27.5 forecast ,-34.3 previous
Looking Ahead Economic Data(GMT)
•12:30 Canada New Motor Vehicle Sales (MoM) 144.6% previous
•12:30 Canada Apr Manufacturing Sales (MoM) 1.6% forecast ,2.5% previous
•12:30 US May PPI (MoM ) 0.8% forecast , 0.5% previous
•12:30 US May PPI (YoY) 10.9% forecast ,11.0% previous
•12:30 US May Core PPI (MoM) 0.6% forecast , 0.4% previous
•12:55 US Redbook (YoY) 12.4% previous
•14:00 US IBD/TIPP Economic Optimism 41.2 previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro continued its downward march against dollar on Tuesday as worries over aggressive U.S. interest rate hikes weighed in single currency. Focus is on the Fed's policy decision due on Wednesday, with many expecting a big three-quarter-percentage point rate hike following hot inflation print last week. Traders have also upped bets on how high interest rates might rise, seeing them peaking around 4% next year, versus the earlier 3% expectation. Immediate resistance can be seen at 1.0499(38.2%fib),an upside break can trigger rise towards 1.0587(50%fib).On the downside, immediate support is seen at 1.0395(23.6%fib), a break below could take the pair towards 1.0361(Lower BB).
GBP/USD: Sterling initially gained against dollar on Tuesday after UK job data but gave as stronger dollar weighed on pound . Data showed the jobless rate rose in the three months to April, bolstering prospects that the Bank of England will continue to raise interest rates. Britain’s jobless rate rose for the first time since late 2020, with official data showing it edged up to 3.8% in the three months to April from 3.7% for the three months to March. The employment data also showed there were signs of more people returning to the job market, where employers’ struggle to fill vacancies has added to the BoE’s inflation headache. Immediate resistance can be seen at 1.2108(Daily high),an upside break can trigger rise towards 1.2333(38.2%fib).On the downside, immediate support is seen at 1.2099(23.6%fib), a break below could take the pair towards 1.2000 (Psychological level).
USD/CHF: The dollar dipped against the Swiss franc on Tuesday as investors awaited Federal Reserve due to start a two-day meeting later on Tuesday, markets waited to see if it raises rates by 75 bps, instead of the 50 bps originally anticipated. Global markets have been rattled as investors price in aggressive central bank policy moves to quell inflation against a backdrop of the Ukraine crisis, concerned that this could lead to a global economic slowdown. At 10:50 GMT, the dollar was 0.34percent lower versus the Swiss franc at 0.9934 .Immediate resistance can be seen at 0.9982 (38.2%fib), an upside break can trigger rise towards 1.0026(Higher BB).On the downside, immediate support is seen at 0.9894 (50%fib), a break below could take the pair towards 0.9870(5DMA).
USD/JPY: The dollar dipped against dollar on Tuesday as nerves about official intervention by Bank of Japan gave brief respite to the yen, but it was soon on the back foot after the Bank of Japan expanded a round of bond purchases, The BOJ expanded bond buying on Tuesday, and offered to increase a round of purchases across the curve on Wednesday, to knock the yield on the 10-year Japanese government bond (JGB) back to its 0.25% cap. The central bank's resolve to keep yields low has helped drive the yen down to 24-year lows against the dollar, as investors have focused on the gap between Japan's ultra-low interest rates and expectations of aggressive hikes by the U.S. Federal Reserve. Strong resistance can be seen at 135.10 (23.6%fib), an upside break can trigger rise towards 135.91(Higher BB).On the downside, immediate support is seen at 133.91 (38.2%fib), a break below could take the pair towards 132.23(11DMA).
European equities dipped on Tuesday on growing fears that the expected aggressive rate hikes by the U.S. Federal Reserve would push the economy into a recession..
At (GMT 10:50 ),UK's benchmark FTSE 100 was last trading down at 0.77 percent, Germany's Dax was down by 0.61 percent, France’s CAC finished was down by 1.12 percent.
Gold prices steadied after early losses on Tuesday as a pullback in the dollar provided some respite, but expectations the Federal Reserve will resort to aggressive policy tightening to tame inflation capped gains.
Spot gold rose 0.3% to $1,823.49 per ounce by 0932 GMT, after falling to its lowest since May 19 at $1,810.90 earlier in the session.U.S. gold futures shed 0.4% to $1,825.30 per ounce.
Oil prices rose on Tuesday as tight global supply outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China.
Brent crude futures rose 94 cents, or 0.9%, to $123.21 a barrel at 1029 GMT, while U.S. West Texas Intermediate (WTI) crude rose 79 cents, or 0.7% to $121.72 a barrel.