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
America’s Roundup: Dollar falls as investors balance their positions ahead of US inflation data, Wall Street ends higher, Gold gains, Oil rises 4% on supply threats, still set for weekly drop-September 10th,2022
America’s Roundup: Dollar scales fresh two-decade peak, Wall Street ends lower, Gold hovers near 2-1/2-year low, Oil prices slide $2/bbl, settle at 9-month lows-September 27th,2022
America’s Roundup: U.S. dollar soars to 24-year high vs yen, Wall ends higher, Gold gains, Oil settles below $90 as recession fears mount-September 8th,2022
America’s Roundup: Dollar reaches new two-decade high, Wall Street ends lower, Gold drops to 2-1/2-year lows, Oil plunges to eight-month low on strong dollar, recession fears-September 24th,2022
Europe Roundup:Euro jumps on hawkish ECB signals, European shares advances, Gold ticks, Oil prices rise as supply uncertainty mounts-September 12th,2022
America’s Roundup: U.S. dollar gains as Fed reinforces hawkish stance, U.S. stocks end higher, Gold dips, Oil edges up from seven-month low as Russia threatens export halt-September 9th,2022
America’s Roundup: Dollar declines against yen as Japan intervenes to stop yen slide, Wall Street ends down, Oil edges higher on Russian supply concerns in volatile trade-September 23rd,2022
Europe Roundup: Euro gains as dollar dips ahead of US CPI data, European shares rise, Gold holds steady, Oil prices climb on concerns over tight supplies-September 13th,2022
America’s Roundup: Dollar edges down but posts gains for week, Wall Street drops, Gold gains, Oil prices up after Basra spill, but log weekly decline-September 17th,2022
America’s Roundup: U.S. dollar soars to two-decade high as Fed flags more large hikes, Wall Street slumps, Gold bounces ,Oil prices slide 1% after U.S. Fed raises interest rates-September 22nd,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
Europe Roundup: Sterling crumbles to all-time low, European shares falls, Gold pinned near 2-1/2-year low, Oil prices hit nine-month low on recession fears-September 26th,2022
Europe Roundup: Euro holds above 2-decade low before ECB decision, European shares gain ,Gold struggles for direction, Oil prices fall further as China extends COVID curbs-September 8th,2022
Europe Roundup: Sterling recovers as BoE, Treasury seek to calm markets , European shares bounce, Gold firms, Oil rises from 9-month low on U.S. Gulf supply cuts-September 27th,2022
Europe Roundup: Sterling tumbles after Britain's new economic plan, European shares extend falls, Gold hits more than 2-year low, Oil prices down 3% with recession fears in focus-September 23rd,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
•UK Public Jun Sector Net Cash Requirement 12.610B ,12.024B previous
•UK Public Jun Sector Net Borrowing 22.12B ,13.20B forecast, 13.23B previous
•French Jul Business Survey 106 , 106 forecast,108 previous
•Greek May Current Account (YoY) -2.004B,-1.616B previous
Looking Ahead - Economic Data (GMT)
•12:00 EU Jul Deposit Facility Rate -0.25% forecast,-0.50% previous
•12:00 ECB Jul Interest Rate Decision 0.25% previous
•12:00 ECB Marginal Lending Facility 0.25% previous
•12:30 US Jul Philly Fed Prices Paid 64.50 previous
•12:30 US Jul Philly Fed Employment 28.1 previous
•12:30 US Jul Philly Fed Business Conditions -6.8 previous
•12:30 US Jul Philly Fed New Orders -12.4 previous
•12:30 US Jul Philadelphia Fed Manufacturing Index -2.5 forecast,-3.3 previous
•12:30 Canada Jun New Housing Price Index (MoM) 0.3% forecast, 0.5% previous
•12:30 US Initial Jobless Claims 240K forecast, 244K previous
•12:30 US Continuing Jobless Claims 1,340K forecast, 1,331K previous
•12:30 US Jobless Claims 4-Week Avg 235.75K previous
•14:00 US Jun Leading Index (MoM) -0.5% forecast,-0.4% previous
•14:30 US Natural Gas Storage 47B forecast,- 58B previous
•15:30 US 4-Week Bill Auction 1.980% previous
•15:30 US 8-Week Bill Auction 2.270% previous
Looking Ahead - Economic events and other releases (GMT)
•12:45 EU ECB Press Conference
•14:15 EU ECB President Lagarde Speaks
•12:15 ECB Monetary Policy Statement
EUR/USD: The euro steadied on Thursday as the European Central Bank geared up for its first rate rise in over a decade and as political tumult in Italy offset relief following the restart of Russian gas flows through the region's largest pipeline. Traders will have more than just the landmark rate move to juggle later, with the ECB also set to sketch out its anti-fragmentation plan a bond market intervention scheme it hopes will prevent another euro zone debt crisis. Markets are looking to see how much the ECB will raise interest rates later at 1215 GMT on Thursday, with a 25 basis point (bps) hike already priced in. Immediate resistance can be seen at 1.0244(50%fib), an upside break can trigger rise towards 1.0270(21DMA).On the downside, immediate support is seen at 1.0161(38.2%fib), a break below could take the pair towards 1.0048 (23.6%fib).
GBP/USD: The British pound slid against the dollar on Thursday amid worsening risk appetite ahead of the European Central Bank rate decision and amid political turmoil in Italy.The resumption of gas flows from the Nord Stream 1 pipeline had provided some relief but the tone soured after Italian Prime Minister Mario Draghi handed in his resignation for the second time in a week. Sterling dropped 0.4% against the dollar to $1.19275 but remained above the 28-month low hit last week. Immediate resistance can be seen at 1.2045(38.2%fib), an upside break can trigger rise towards 1.2078(38.2%fib).On the downside, immediate support is seen at 1.1912(9DMA), a break below could take the pair towards 1.1789(23.6%fib).
USD/CHF: The dollar strengthened against the Swiss franc on Thursday as the prospect of aggressive policy tightening by major central banks boosted dollar. Markets are looking to see how much the ECB will raise interest rates later at 1215 GMT on Thursday, with a 25 basis point (bps) hike already priced in.Traders also await details of an ECB tool to contain stress in bond markets The U.S. Federal Reserve, too, is widely expected to raise rates by 75 basis points at its policy meeting next week. Immediate resistance can be seen at 0.9753(38.2%fib), an upside break can trigger rise towards 0.9789(19th July high).On the downside, immediate support is seen at 0.9682(21DMA), a break below could take the pair towards 0.9636(50%fib).
USD/JPY: The dollar strengthened against the Japanese yen on Thursday after Bank of Japan left its super-loose monetary policy unchanged. BOJ Governor Haruhiko Kuroda brushed aside the chance of near-term policy tightening, saying he had absolutely no plan to raise interest rates or hike an implicit 0.25% cap set for the bank's 10-year bond yield target. As widely expected, the BOJ maintained its -0.1% target for short-term rates and that of 10-year bond yields around 0%.The BOJ's dovish language stands out in a recent flurry of central bank interest rate hikes to combat soaring inflation. Strong resistance can be seen at 139.29 (23.6%fib), an upside break can trigger rise towards 140.00(Psychological level).On the downside, immediate support is seen at 137.70 (38.2%fib), a break below could take the pair towards 137.30 (14DMA).
Italy's benchmark FTSE MIB stock index slumped nearly 2% on Thursday as the country's government crumbled, keeping broader European stocks under pressure despite relief over the timely resumption of Russian gas flows.
At (GMT 11:17 ),UK's benchmark FTSE 100 was last trading down at 0.42% percent, Germany's Dax was down by 0.44% percent, France’s CAC was up by 0.31%percent, Italy's FTSE MIB was down by 1.31% percent
Gold prices touched a more than one-year low on Thursday, as the prospect of aggressive policy tightening by major central banks weighed on the non-interest-bearing metal’s appeal, while investors awaited European Central Bank’s policy announcement.
Spot gold fell 0.8% to $1,682.67 per ounce by 0920 GMT, after hitting its lowest level since March 2021.U.S. gold futures fell 1.1% to $1,681.00.
Oil prices fell by more than $5 on Thursday after higher U.S. gasoline stockpiles stoked demand worries and returning energy supply from Libya and Russia eased supply concerns.
Brent crude futures lost $5.13, or 4.8%, to $101.79 a barrel by 1039 GMT after slipping 0.4% in the previous session. U.S. West Texas Intermediate crude futures were down $5.05, or 5.06%, at $94.83 after a 1.9% drop on Wednesday.
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