Europe Roundup: Euro edges higher against dollar, European shares falls, Gold stalls, Oil falls on economic worries, easing supply fears-December 7th,2022
America’s Roundup: Dollar rises as China COVID worries spook markets,Wall Street slips, Gold dips, Oil rebounds from early plunge after Saudis deny OPEC+ output report-November 22nd,2022
America’s Roundup: Dollar pullsback on hopes of slower rate hikes, Wall Street ends lower,Gold gains,Oil up on China COVID hopes-November 30th,2022
Market Roundup: Sterling ticks up against dollar,European shares hold near 3-month highs, Gold subdued, Oil prices fall over $1/bbl on Russian oil price cap talks
America’s Roundup: Dollar drops to near four-month low,Wall Street ends mixed, Gold rises, Oil settles little changed after China eases COVID curbs-December 2nd,2022
Europe Roundup: Sterling dips against dollar, European shares slip, Gold slips to over 1-week low, Oil prices ease to trade near 2-month lows-November 21th,2022
America’s Roundup: Dollar gains on hawkish Fed tilt, Wall Street ends higher, Gold falls, Oil slides 2 percent-November 19th,2022
America’s Roundup: Dollar gains broadly as U.S. data sparks rate hike fears ,Wall Street slides, Gold retreats , Oil falls over 3%-December 6th,2022
America’s Roundup: Dollar gives back gains as U.S. jobs data rattles investors, Wall Street ends mixed,Gold retreats, Oil dips 1.5% ahead of OPEC+ meeting, EU Russian oil ban-December 3rd,2022
America’s Roundup: Dollar up as market eye central bank rate policies, Wall Street slumps, Gold little changed, Oil prices slump to pre-Ukraine crisis levels on economic jitters-December 7th,2022
Market Roundup: Dollar retreats , traders eye Fed policy minutes, Wall Street close higher,Gold gains, Oil rises 1% as OPEC+ focus on supply cuts outweighs recession concerns
America’s Roundup: Dollar extends losses as Fed minutes signal slower rate hikes,Gold gains, Oil muted as price cap proposal eases supply concerns-November 25th,2022
Europe Roundup: Sterling at fresh 16-week high as dollar takes a beating ,European rise near six-month high , Gold gains, Oil rises ahead of OPEC+ meeting, easing China COVID curbs lend support-December 1st,2022
Europe Roundup: Sterling edges up against dollar, European shares fall, Gold hits over one-week high, Oil prices erase 2022 gains as China's protests spark demand worries-November 28th,2022
Europe Roundup: Euro gains against dollar ahead of Powell speech, European shares rise,Gold gains, Oil firm on U.S. crude stocks and China optimism-November 30th,2022
Europe Roundup: Sterling gains after better-than-expected retail sales data , European shares bounce, Gold ticks up, Oil slides on China demand concerns, easing supply worries-November 18th,2022
Europe Roundup: Euro slides back towards two-decade lows, European shares slip, Gold gains,Oil prices surge as Putin mobilises more troops-September 21st,2022
• UK Aug Public Sector Net Cash Requirement 5.321B, -4.693B previous
• UK Aug Public Sector Net Borrowing 11.06B, 8.20B forecast, 4.18B previous
• UK Sep CBI Industrial Trends Orders-2 , -11 forecast, -7 previous
•US Mortgage Market Index 264.7, 255.0 previous
•US MBA 30-Year Mortgage Rate 6.25% ,6.01% previous
•US MBA Mortgage Applications (WoW) 3.8%, -1.2% previous
Looking Ahead - Economic Data (GMT)
•14:00 US Aug Existing Home Sales (MoM) -5.9% previous
•14:00 US Aug Existing Home Sales 4.70M forecast, 4.81M previous
•14:30 US EIA Weekly Distillates Stocks 0.420M forecast, 4.219M previous
•14:30 US Gasoline Inventories -0.431M forecast, -1.767M previous
•14:30 US Gasoline Production -0.399M previous
•14:30 US Cushing Crude Oil Inventories -0.135M previous
•14:30 US Crude Oil Inventories 2.161M forecast, 2.442M previous
•18:00 US Fed Interest Rate Decision 3.25% forecast, 2.50% previous
•18:00 US Interest Rate Projection - Longer (Q3) 2.5 previous
•18:00 US Interest Rate Projection - 1st Yr (Q3) 3.80 previous
•18:00 US Interest Rate Projection - Current (Q3) 3.4 previous
Looking Ahead - Economic events and other releases (GMT)
•18:00 US FOMC Statement
•18:00 US FOMC Economic Projections
•18:30 US FOMC Press Conference
EUR/USD: The euro declined against dollar on Wednesday as euro bore the brunt of selling as Putin's comments exacerbated concern about the economic outlook for a region already hit hard by Russia's squeeze on gas supplies to Europe. In a speech announcing a partial mobilisation for the country's military campaign in Ukraine, Putin said Russia had lots of weapons to reply to what he called Western threats and that he was not bluffing. The euro fell to a two-week low of $0.9885 , within sight of two-decade lows hit earlier this month. It was last down 0.4% at $0.9930.. Immediate resistance can be seen at 0.9998(38.2%fib), an upside break can trigger rise towards 1.0021 (30DMA).On the downside, immediate support is seen at 0.9898(23.6%fib), a break below could take the pair towards 0.9850(Lower BB).
GBP/USD: The pound touched a new 37-year low against the dollar on Wednesday after Russian President Vladimir Putin’s accusation of nuclear blackmail by the West boosted the safe-haven dollar. An expected interest rate hike by the U.S Federal Reserve (Fed) later in the day played into market sentiment, with eyes also on a Bank of England rate decision and a new government mini-budget this week. The pound has lost 16% in value against the dollar so far this year, as fears of a global recession have mounted, alongside flaring geopolitical tensions and soaring inflation. By 1143 GMT, the pound was down 0.31% against the dollar at $1.13460 pence, having earlier hit $1.13000 its lowest since 1985. Immediate resistance can be seen at 1.1407(5DMA), an upside break can trigger rise towards 1.1476 (38.2%fib).On the downside, immediate support is seen at 1.1302 (23.6%fib), a break below could take the pair towards 1.1258(Lower BB).
USD/CHF: The dollar dipped against the Swiss franc on Wednesday as anxious investors fled risk assets after Russian President Vladimir Putin on Wednesday ordered a mobilisation over Ukraine and accused the West of nuclear blackmail .Putin said he had signed a decree on partial mobilisation beginning on Wednesday, saying he was defending Russian territories and that the West wanted to destroy the country. Later on Wednesday, the Fed is expected to lift interest rates by three-quarters of a percentage point for a third straight time and signal how much further and how fast borrowing costs may need to rise to tame inflation. The policy decision, due at 1800 GMT, will mark the latest move in a synchronized policy shift by global central banks that is testing the resilience of the world economy.Immediate resistance can be seen at 0.9684 (38.2%fib), an upside break can trigger rise towards 0.9695 (Sep 19th high).On the downside, immediate support is seen at 0.9635 (5DMA), a break below could take the pair towards 0.9622(50%fib).
USD/JPY: The dollar strengthened against the Japanese yen on Wednesday as a decision by Russia's President Vladimir Putin to mobilise more troops for the conflict in Ukraine rattled markets just before another expected aggressive U.S. Federal Reserve rate hike. Putin on Wednesday called up 300,000 reservists to fight in Ukraine and said Moscow would respond with the might of all its vast arsenal if the West pursued what he called its "nuclear blackmail" over the conflict there. The news propelled the dollar index, which measures the greenback's value against other major currencies, more than 0.5% higher to 110.87 its highest level since 2002.It was last trading at 110.62, up about 0.4% on the day. Strong resistance can be seen at 144.31 (23.6%fib), an upside break can trigger rise towards 145.00(Psychological level). On the downside, immediate support is seen at 143.53 (5DMA), a break below could take the pair towards 142.56(38.2%fib).
European shares fell at the opening on Wednesday as Russia partially mobilising more troops added to investors worries over U.S. Federal Reserve's likely third straight super-sized interest rate hike later in the day.
At (GMT 12:20),UK's benchmark FTSE 100 was last trading up at 0.68 % percent, Germany's Dax was down by 0.03 % percent, France’s CAC was last up by 0.07% percent.
Gold rose on Wednesday after Russian President Vladimir Putin's partial mobilisation announcement re-ignited some safe-haven interest in bullion, although a strong dollar and expected U.S. rate hikes capped gains.
Spot gold was up 0.7% at $1,673.91 per ounce as of 1004 GMT. U.S. gold futures rose 0.7% to $1,682.60.
Oil jumped nearly 3% on Wednesday after Russian President Vladimir Putin announced a partial military mobilisation, escalating the war in Ukraine and raising concerns of tighter oil and gas supply.
Brent crude futures rose $2.26, or 2.5%, to $92.88 a barrel by 1051 GMT. U.S. West Texas Intermediate crude was at $86.09 a barrel, up $2.15, or 2.6%.