Europe Roundup:Sterling slips on weak GDP data, European shares falls, Gold falls 1%, Oil falls on Beijing's COVID-19 warning, inflation worries-June 13th,2021
Europe Roundup: Sterling flat versus dollar, Gold rises, Oil prices edge higher ahead of G7 talks on new Russian sanctions-June 27th, 2022
Market Roundup: Sterling rises as BoE's Pill sees further rate rises ahead, European shares gain, Gold dips, Oil rises on market caution over tight supply-June 21st,2022
Europe Roundup: Sterling slides ahead of Bank of England rate call, European stocks slip, Gold steadies, Oil prices fall after U.S. rate hike, but tight supply still in focus-June 16th,2022
Europe Roundup: Sterling retreats as UK inflation hits new 40-year high, European shares fall,Gold extends fall, Oil slumps by around $5-June 22nd,2022
America’s Roundup: Dollar slips as recession risk keeps investors cautious, Wall Street ends higher, Gold falls, Oil ticks higher on strong demand, tight supply-June 22nd,2022
Europe Roundup: Sterling gains against weaker dollar , European shares rises, Gold firms, Oil surges above $1 but on course for second weekly declined on recession fears-June 24th,2022
America’s Roundup: Dollar scales fresh 2-decade peak, Wall Street ends sharply lower, Gold slides over 2%, Oil rises on tight supplies and choppy demand worries-June 14th,2022
Europe Roundup: Sterling set for second weekly decline vs dollar as economic outlook weighs, European stocks falls, Gold dips, Oil prices on track for weekly gain amid high U.S. demand-June 10th,2022
America’s Roundup: Dollar dips after Fed statement, Wall Street closes higher, Gold rallies, Oil prices fall over 2% as Fed hikes interest rates-June 16th,2022
America’s Roundup: Dollar gains as U.S. stocks fall, ECB decision on tap, Wall Street falls, Gold ticks up,Oil hovers near 13-week high on robust U.S. demand, China optimism-June 9th,2022
Europe Roundup: Sterling falls to near 3-week lows, European shares fell, Gold firms, Oil prices stable as market juggles risk sentiment with tight supplies-June 7th ,2022
America’s Roundup: Dollar dips as hopes rise that inflation has peaked, Wall Street jumps, Gold gains, Oil settles up 1% on tight supply, U.S. crude at 13-week high-June 8th,2022
America’s Roundup: Dollar gains on hot U.S. inflation data, Wall Street ends down sharply, Gold rebounds, Oil falls as U.S. inflation data surges, China imposes lockdowns-June 11th,2022
America’s Roundup: Dollar eases as growth fears push yields lower, Wall Street ends lower, Gold gains, Oil falls around 3% -June 23rd,2022
America’s Roundup: Dollar index jumps to two-decade high as traders await Fed rate move , Wall Street slips, Gold eases, Oil prices settle down on fears of Fed and oil profit tax-June 15th,2022
Europe Roundup: Euro slips from one-month high vs dollar, Gold falls, Oil prices edge higher on tight supply, firmer demand expectations-May 25th,2022
•Sweden Apr Unemployment Rate 8.2%,8.2% previous
• German Jun GfK Consumer Climate -26.0, -26.0 forecast, -26.5 previous
•German GDP (YoY) (Q1) 4.0%, 4.0% forecast, 1.8% previous
•German GDP (QoQ) (Q1) 0.2%, 0.2% forecast,-0.3% previous
•Swiss May ZEW Expectations-52.6, -51.6 previous
Looking Ahead - Economic Data (GMT)
•12:30 US Apr Goods Orders Non Defense Ex Air (MoM) 0.5% forecast, 0.9% previous
•12:30 Canada Profits (QoQ) 3.8% previous
•12:30 US Apr Core Durable Goods Orders (MoM) 0.6% forecast,1.2% previous
•12:30 US Apr Durable Goods Orders (MoM) 0.6% forecast, 0.8% previous
•12:30 US Apr Durables Excluding Defense (MoM) 1.0% forecast,1.4% previous
•14:30 US Cushing Crude Oil Inventories -2.403M previous
•14:30 US Crude Oil Inventories -0.737M forecast, -3.394M previous
Looking Ahead - Economic events and other releases (GMT)
•16:00 German Buba Beermann Speaks
•15:15 UK MPC Member Tenreyro Speaks
•16:15 US FOMC Member Brainard Speaks
•18:00 US FOMC Meeting Minutes
EUR/USD: The euro declined on Wednesday as the dollar bounced back ahead of the release of U.S. Federal Reserve minutes of its last policy meeting. The dollar index fell more than 1% over the first two days of this week as traders positioned for a slightly less aggressive path of Federal Reserve rate hikes, but it was more than 0.2% stronger early on Wednesday. The FOMC is expected to release the minutes from its May 3–4 policy meeting at 1800 GMT. The minutes of the Fed's last rate-setting meeting will provide further clues about the policy outlook, when they are released later in the day. Immediate resistance can be seen at 1.0742(38.2%fib), an upside break can trigger rise towards 1.0765 (Higher BB).On the downside, immediate support is seen at 1.0663(23.6%fib), a break below could take the pair towards 1.0548 (21DMA).
GBP/USD: The pound declined against dollar on Wednesday a day after plunging following weak data and ahead of the expected release of a report into lockdown-breaking parties at Downing Street. Senior civil servant Sue Gray is expected to publish the report on Wednesday, heaping more pressure on Prime Minister Boris Johnson as the country struggles with a slowing economy and decades-high inflation. Data on Tuesday showed a sharp slowdown in British business activity in May, with S&P Global’s flash Composite Purchasing Managers’ Index slumping to a 15-month low, adding to fears that the economy will slip into recession. At 0814 GMT, the pound was down against the dollar at $1.2508 .Immediate resistance can be seen at 1.2611(38.2%fib),an upside break can trigger rise towards 1.2719(50%fib).On the downside, immediate support is seen at 1.2504 (23.6%fib), a break below could take the pair towards 1.2439 (21DMA).
USD/CHF: The dollar strengthened against the Swiss franc on Wednesday as dollar gained ahead of Federal Reserve meeting minutes. The U.S. Federal Reserve has vowed to act aggressively by hiking the cost of borrowing and minutes from its most recent meeting, due later, will be parsed for clues regarding the speed and extent of those actions. Investors currently expect a series of 50-basis-point rate hikes over the next several months, stoking fears that it could easily bring the world’s largest economy to a standstill. The U.S. dollar index which measures the currency against six major rivals - rebounded 0.16% to 101.92, a level not seen since April 26.Immediate resistance can be seen at 0.9642 (38.2%fib), an upside break can trigger rise towards 0.9670 (5DMA).On the downside, immediate support is seen at 0.9546 (50% fib), a break below could take the pair towards 0.9498 (Lower BB ).
USD/JPY: The dollar edged higher against the Japanese yen on Wednesday as greenback snapped a two-day losing streak as Treasury yields paused recent falls. U.S. 10-year Treasury yields, which hit 3-1/2-year highs earlier in May, have since fallen some 40 basis points . They slipped another 2 bps on Wednesday but two-year yields were steady on the day. The dollar has fallen around 3% after hitting two-decade highs earlier this month but bounced 0.4% off one-month lows reached earlier this week. The dollar was 0.46 percent higher versus the Japanese yen at 127.00.Strong resistance can be seen at 127.38(5DMA), an upside break can trigger rise towards 128.47(23.6%fibOn the downside, immediate support is seen at 126.33 (50DMA), a break below could take the pair towards 125.00(Psychological level).
European shares eked out gains on Wednesday, lifted by resource-linked stocks and banks, with investors watching for updates from central banks on monetary policy tightening amid rising concerns of an economic slowdown.
At (GMT 09:56 ),UK's benchmark FTSE 100 was last trading up at 0.55 percent, Germany's Dax was up by 0.24 percent, France’s CAC was last up by 0.21 percent.
Gold prices fell on Wednesday as the dollar firmed in the run-up to minutes from the U.S. Federal Reserve’s May policy meeting, which could provide cues on its policy tightening path.
Spot gold was down 0.4% at $1,859.39 per ounce by 0820 GMT, after rising to a two-week high of $1,869.49 on Tuesday. U.S. gold futures dropped 0.4% to $1,857.80.
Oil prices rose on Wednesday, buoyed by tight supplies and the prospect of rising demand from the upcoming start of the summer driving season in the United States, the world's biggest crude consumer.
Brent crude futures for July rose 44cents, or 0.4%, to $114.00 a barrel by 0619 GMT. Brent futures gained 0.1% on Tuesday and are up for a fifth day.
U.S. West Texas Intermediate (WTI) crude futures for July delivery rose 51 cents, or 0.5%, to $110.28 a barrel. The contract settled down 52 cents on Tuesday.