America’s Roundup: Dollar gains as Fed skips rate hike but holds hawkish stance, Wall Street closes lower, Gold trims gains, Oil prices ease 1%-September 21st,2023
Europe Roundup: Sterling hits fresh six-month low against dollar, European shares snap 4-day losing streak, Oil prices climb $1 as markets focus on supply tightness
America’s Roundup: Dollar climbs as Fed expectations remain intact after CPI , Wall Street ends mixed, Gold eases, Oil dips as surprise US crude stockbuild faces supply cuts-September 14th,2023
America’s Roundup: Dollar drifts higher as traders look to upcoming Fed decision, U.S. stocks close lower, Gold holds tight range, Oil prices hit highest since November-September 20th,2023
Europe Roundup: Sterling eases as weak GDP data fuels recession fears, European shares falls, Gold steadies, Oil rises as supply cuts offset inflation concerns-September 13th,2023
Europe Roundup: Sterling stays at three-month low , European stocks stabilise ,Gold firms, Oil ticks higher as tight supply trumps macroeconomic gloom-September 8th,2023
America’s Roundup: Dollar advances despite soft PMI flash data ,Wall Street ends lower,Gold edges higher ,Brent, WTI oil settle mixed above $90 a barrel- September 23rd,2023
Europe Roundup: Sterling drops to lowest since March after BoE holds rates, European shares slide, Gold falls, Oil falls as US rate hike expectations offset tight supply outlook-September 21st,2023
Europe Roundup:Euro gains as focus turns to cenbank meetings, European shares inch up , Gold at two-week high, Oil prices rise on supply deficit concerns-September 19th,2023
Europe Roundup: Sterling ticks higher against dollar , European shares set to end week higher, Gold gains, Oil set for another weekly gain on tight supply and China optimism-September 15th,2023
Europe Roundup : Sterling falls on cooling UK inflation, European shares rise, Gold little changed, Oil falls ahead of Fed rate decision-September 20th,2023
America’s Roundup: Dollar rebounds as US inflation test nears , Wall Street ends lower, Gold slips , Oil jumps 2% to near 10-month high-September 13th,2023
America’s Roundup: Dollar hit an 11-month high against the Japanese yen, Wall Street gains, Gold subdued, Oil prices settle near flat in choppy trade-September 26th,2023
Europe Roundup: Sterling hits fresh multi-month lows on dollar, European shares falls, Gold eases, Oil prices steady as Russia eases fuel export ban-September 25th,2023
Europe Roundup : Euro edges higher against dollar,European shares slide, Gold slips, Oil prices fall as economic outlook outweighs tight supply-September 26th,2023
America’s Roundup: Dollar slips ahead of US inflation data, Wall Street advances, Gold firms, Oil prices settle mostly flat ahead of monthly oil forecasts-September 12th,2023
Europe Roundup: Euro jumps as ECB holds unscheduled meeting, European stocks jump,Gold gains 1%, Oil prices fall as expected U.S. interest rate hike looms-June 15th,2022
•German May WPI (YoY)22.9%,23.8%previous
•Swiss May PPI (MoM) 0.9%,1.3% previous
•Swiss May PPI (YoY) 6.9%,6.7% previous
•French May HICP (YoY) 5.8%,5.8%forecast,5.4% previous
•French May HICP (MoM) 0.8%,0.7% forecast,0.5% previous
•French May CPI (MoM) 0.7%,0.6% forecast,0.4% previous
•EU Apr Industrial Production (MoM) 0.4%,-2.0% forecast,-1.8% previous
•EU Apr Trade Balance -32.4B,-16.4B forecast
Looking Ahead Economic Data
•12:15 Canada May Housing Starts 252.6K forecast,267.3K previous
•12:30 US May Import Price Index (MoM) 1.1% forecast,2.9% previous
•12:30 US May Retail Sales (MoM) 0.2% forecast, 0.9% previous
•12:30 US May Core Retail Sales (MoM) 0.8% forecast, 0.6% previous
•12:30 US May Export Price Index (MoM) 1.3% forecast,0.6% previous
•12:30 US Jun NY Empire State Manufacturing Index 3.00 forecast,-11.60 previous
•12:30 US May Retail Control (MoM) 0.5% forecast,1.0% previous
•14:00 US Apr Retail Inventories Ex Auto 1.7% previous
•14:00 US Apr Business Inventories (MoM) 1.2% forecast, 2.0% previous
•14:00 US Crude Oil Inventories -1.314M forecast, 2.025M previous
•14:30 US Gasoline Inventories 1.066M forecast,-0.812M previous
•18:00 US Fed Interest Rate Decision1.50% forecast,- 1.00% previous
Looking Ahead - Events, Other Releases (GMT)
•18:00 US FOMC Economic Projections
•18:00 US FOMC Statement
•18:30 US FOMC Press Conference
EUR/USD: The euro jumped on Wednesday after the ECB's governing council said it would hold an emergency meeting on Wednesday to discuss the recent sell-off in government bond markets, briefly distracting traders ahead of a much-watched Fed meeting. The European common currency rose as much as 0.7% against the dollar to $1.04945, following the announcement of the meeting, which comes after the spread between the yields of Germany and more indebted southern nations, particularly Italy, soared to its highest in over two years. 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 recovered from its lowest level against the dollar since March 2020 on Wednesday, but the reprieve could prove temporary with slowing UK economic growth and a potential trade conflict with the European Union weighing on the currency.Britain's growth prospects are seen among the weakest for rich countries in 2023, and there is uncertainty over how fast the Bank of England - which is expected to raise interest rates again on Thursday - can tighten policy this year to tame inflation without further hurting the economy. The pound, which plunged below $1.20 on Tuesday for the first time since the COVID-19 crash in March 2020, bounced back 0.75% to 1.2086.Immediate resistance can be seen at 1.2088(Daily high),an upside break can trigger rise towards 1.2159 (38.2%fib).On the downside, immediate support is seen at 1.9984(Daily low), a break below could take the pair towards 1.9925 (23.6%fib).
USD/CHF: The dollar dipped against the Swiss franc on Wednesday as investors waited to see just how aggressive the Federal Reserve would go on rates.The Federal Reserve policy meeting is due to conclude later on Wednesday, and markets are pricing in an 87% chance of an outsized 75 basis point interest rate hike as policymakers try to rein in rampant inflation. Expectations picked up following media reports, first by the Wall Street Journal, that a bigger rate increase was on the cards, after data released last week showed the U.S. consumer price index surged 8.6% in the 12 months to May, the largest year-on-year increase in four decades .Immediate resistance can be seen at 1.0041 (23.6%fib), an upside break can trigger rise towards 1.0059(May 16th high).On the downside, immediate support is seen at 0.9944 (38.2%fib), a break below could take the pair towards 0.9875(50%fib).
USD/JPY: The dollar dipped against dollar on Wednesday as investors waited to see just how aggressive the Federal Reserve would be on rates, with many fearing drastic action would risk tipping the world into recession. Investors await the Federal Open Market Committee’s policy decision on interest rate, due at 1800 GMT. Hotter-than-expected U.S. inflation data released last week has prompted investors to price in an interest rate increase of 75 basis points (bps) rather than reached heights last visited in 1998 at 135.60. The dollar was trading at 135.27 yen, having reached heights last visited in 1998 at 135.60.Strong resistance can be seen at 135.89 (23.6%fib), an upside break can trigger rise towards 136.51(Higher BB).On the downside, immediate support is seen at 133.18 (10DMA), a break below could take the pair towards 131.83(38.2%fib).
European stocks rallied on Wednesday, with banks leading the gains, after the European Central Bank said its rate-setting Governing Council would hold an unscheduled meeting to discuss the recent sell-off in government bond markets.
At (GMT 10:50 ),UK's benchmark FTSE 100 was last trading up at 1.33 percent, Germany's Dax was down by 1.37 percent, France’s CAC was down by 0.90 percent.
Gold prices rose 1% on Wednesday bolstered by a pullback in the U.S. dollar and U.S. Treasury yields, ahead of a potentially aggressive interest rate hike from the Federal Reserve.
Spot gold climbed 0.9% to $1,824.80 per ounce by 1002 GMT while U.S. gold futures rose 0.8% to $1,827.30.
Oil prices fell on Wednesday on concerns about fuel demand and global economic growth before an expected big hike in interest rates by the U.S. Federal Reserve.
Brent crude futures for August were down $1.27, or 1%, at $119.90 a barrel as of 1001 GMT, in volatile trading.U.S. West Texas Intermediate crude for July fell $1.44, or 1.2%, to $117.49 a barrel.
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