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
America’s Roundup: Dollar weakness as focus shifts to Fed meet next week ,Wall Street tumbles, Gold rises 1%, Oil prices hit 10-month high, gain 4% on weekly basis-September 16th,2023
Europe Roundup: Sterling holds above three-month lows vs dollar, European shares edge higher, Gold steady, Oil hits 2023 highs on tight supply outlook-September 14th,2023
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
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 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
America’s Roundup: Dollar climbs on strong US data, Wall Street rallies, Gold hold near 3-week low , Oil rises to highest in 2023 on tight supply expectations-September 15th,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 : Sterling falls on cooling UK inflation, European shares rise, Gold little changed, Oil falls ahead of Fed rate decision-September 20th,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 eases after Fed-spurred rise , US stocks ends lower, Gold slides, Oil settles lower as Russia fuel export ban boosts, rate hikes weigh-September 22nd,2023
America’s Roundup: Dollar dip after inflation data, Wall Street ends mixed, Gold extended decline,Oil settles lower but ends quarter up 28% on tight global supply-September 30th,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 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: Sterling rises after UK growth data, European shares rise, Gold edge up, Oil set for 2% weekly gain on China holiday demand, tight US supply-September 29th,2023
Europe Roundup: Euro edges higher as dollar slips ahead of US inflation data, European shares hit 1-week high, Gold gains, Oil prices ease from 10-month high –September 11th,2023
Europe Roundup: Euro struggles around $1.05 on gloomy PMIs, European shares falls, Gold dips, Oil rebounds as investors assess recession risks-June 23rd,2022
•French Jun Business Survey 108, 105 forecast, 106 previous
•French Jun Services PMI 54.4 ,57.6 forecast, 58.3 previous
•French Jun Markit Composite PMI 52.8 , 56.0 forecast, 57.0 previous
•French Jun Manufacturing PMI 51.0 ,54.0 forecast, 54.6 previous
•German Jun Services PMI 52.4,54.5 forecast, 55.0 previous
•German Jun Manufacturing PMI 52.0 ,54.0 forecast, 54.8 previous
• German Jun Composite PMI 1.3,53.1 forecast, 53.7 previous
•EU June Markit Composite PMI 51.9,54.0 forecast, 54.8 previous
•EU June Manufacturing PMI 52.0, 53.9 forecast, 54.6 previous
•EU June Services PMI 52.8, 55.5 forecast, 56.1 previous
•UK June Manufacturing PMI 53.4. 54.6 forecast, 54.6 previous
•UK June Composite PMI 53.1, 51.8 forecast, 51.8 previous
•UK June Services PMI 53.4 ,51.8 forecast, 51.8 previous
•US Current Account (Q1) -291.4B, -273.5B forecast, -217.9B previous
•US Initial Jobless Claims 229K,227K forecast, 229K previous
•US Jobless Claims 4-Week Avg 223.50K,218.50K previous
•US Continuing Jobless Claims 1,315K, 1,315K forecast, 1,312K previous
•Canada Manufacturing Sales (MoM) -2.5%,1.7% previous
•Canada Wholesale Sales (MoM) 2.0%, -0.5% previous
Looking Ahead Economic Data (GMT)
•13:45 US Jun Services PMI 53.5 forecast, 53.4 previous
•13:45 US Jun Markit Composite PMI 53.6 previous
•13:45 US Jun Manufacturing PMI 56.0 forecast, 57.0 previous
•14:30 US Natural Gas Storage 65B forecast, 92B previous
•15:00 US Crude Oil Inventories -0.569M forecast,1.956M previous
•15:00 US Cushing Crude Oil Inventories -0.826M previous
Looking Ahead - Events, Other Releases (GMT)
•14:00 US Fed Chair Powell Testifies
EUR/USD: The euro weakened broadly on Thursday as disappointing German and French PMI data confirmed the euro zone economy is struggling to gain traction, prompting traders to trim bets on big interest rate hikes from the European Central Bank.High prices in the euro zone meant demand for manufactured goods fell in June at the fastest rate since May 2020 when the coronavirus pandemic was taking hold, with S&P Global's headline factory Purchasing Managers' Index (PMI) falling to a near two- year low of 52.0 from 54.6. Against the U.S. dollar, the single currency declined 0.6% to $1.0498, falling below the $1.05 line for the third time this week. Immediate resistance can be seen at 1.0585(38.2%fib),an upside break can trigger rise towards 1.0666(50%fib).On the downside, immediate support is seen at 1.0471(23.6%fib), a break below could take the pair towards 1.0376(Lower BB).
GBP/USD: Sterling declined against dollar on Thursday after better-than-expected UK PMI numbers for June was offset by political risks and recession fears. Investors were on watch for further signs of political instability as the ruling Conservative Party was contesting two key by-elections on Thursday: one in Tiverton and Honiton in the southwest and another in Wakefield in the north. A defeat in either place could spur Conservative lawmakers to find a way to oust Prime Minister Boris Johnson. The PMI’s preliminary composite index held at 53.1 in June, above the median forecast of 52.6 in a poll of economists, and unchanged from May.The pound was down 0.5% against a strengthening U.S. dollar at $1.2223, having earlier fallen below $1.22. Immediate resistance can be seen at 1.2287(5DMA),an upside break can trigger rise towards 1.2406 (38.2%fib).On the downside, immediate support is seen at 1.2167(23.6%fib), a break below could take the pair towards 1.2032(Lower BB).
USD/CHF: The dollar initially against the Swiss franc on Thursday but gave up ground as grrennback was hurt by Treasury yields wallowing near two-week lows amid rising concerns of a recession. Powell on Wednesday noted that the Fed is not trying to engineer a recession to stop inflation but is fully committed to bringing prices under control even if doing so risks an economic downturn. Powell is due to testify again in Washington D.C. later on Thursday. The dollar rose 0.340%against a basket of major currencies. Immediate resistance can be seen at 0.9654 (5DMA), an upside break can trigger rise towards 0.9712(38.2%fib).On the downside, immediate support is seen at 0.9578(50%fib), a break below could take the pair towards 0.9488(61.8%fib).
USD/JPY: The dollar dipped against Japanese yen on Thursday as investors weighed the risk of hefty interest rate rises tipping economies into recession. Markets have become increasingly concerned that the Fed’s commitment to quelling red-hot inflation will spur a recession. U.S. Treasury yields remained lower on Thursday after Federal Reserve Chair Jerome Powell, in testimony to the U.S. Senate Banking Committee on Wednesday, underlined the central bank's commitment to cutting inflation at all costs and acknowledged a recession was certainly a possibility. The dollar slid 0.17% to 134.97 yen, retreating from a 24-year high of 136.71 reached on Wednesday. Strong resistance can be seen at 136.48 (23.6%fib), an upside break can trigger rise towards 138.03(Higher BB).On the downside, immediate support is seen at 134.28(5DMA), a break below could take the pair towards 133.78(38.2%fib).
European shares dropped on Thursday after a survey showed euro zone business activity slowed significantly in June, adding to fears of a sharp economic downturn, while sliding oil and metal prices hit commodity-linked stocks.
At (GMT 12:48),UK's benchmark FTSE 100 was last trading down at 0.46 percent, Germany's Dax was down by 1.21 percent, France’s CAC was down by 0.32 percent.
Gold traded lower on Thursday as a stronger dollar and remarks from U.S. Federal Reserve Chair Jerome Powell about the central bank’s commitment to tame rising prices dimmed its safe-haven appeal.
Spot gold fell 0.4% to $1,829.89 per ounce by 1056 GMT. U.S. gold futures inched 0.4% lower to $1,830.70.
Oil prices edged higher on Thursday after earlier falls as investors weighed the risks of recession and how fuel demand will be affected by rising interest rates and tight supplies.
Brent crude futures rose by 38 cents, or 0.3%, to $112.12 by 1204 GMT, having dropped as low as $108.04 earlier in the session.
U.S. West Texas Intermediate (WTI) crude futures were up 32 cents, or 0.3%, at $106.51 after touching a session low of $102.32.
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