America’s Roundup: Dollar gains on U.S. service sector data, Wall Street rallies, Gold little changed, Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build-August 4th,2022
Europe Roundup: Euro gains ahead of key U.S. inflation data, European shares dips, Gold flat, Oil drops on Druzhba pipeline news and U.S. inflation expectations-August 10th,2022
America’s Roundup: Dollar slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,2022
America’s Roundup:U.S. dollar index gains, Wall Street indexes close up, Gold gains, Oil prices sheds 2% a barrel-August 13th,2022
Europe Roundup: Sterling edges higher, rate hike outlook remains in focus , European shares edge lower, Gold consolidates, Oil slips amid chance of Iran nuclear deal supply boost-August 9th,2022
America’s Roundup: Dollar edges down, Wall Street ends mixed , Gold gains, Oil prices hit lowest level since the invasion of Ukraine on recession fears-August 5th,2022
America’s Roundup: Dollar falls on lower than expected US inflation data, Wall Street rallies, Gold edges lower, Oil rises on renewed gasoline demand, weak dollar-August 11th,2022
America’s Roundup: Dollar remains under pressure as traders reassess rate hike bets,Wall Street ends mixed, Gold inches lower ,Oil settles up as IEA hikes 2022 demand growth forecast-August 12th,2022
Europe Roundup: Euro notch up on US inflation data,European shares little changed, Gold subdued,Oil rises as IEA hikes 2022 demand growth forecast-August 11th,2022
Europe Roundup: Euro slip to one-month low on renewed growth fears, European equities fall, Gold slips, Oil prices slip, headed for weekly loss as recession concerns bite-August 19th,2022
Europe Roundup: Euro fall on weak German ZEW economic sentiment ,European shares gain, Gold extends losses, Oil extends losses as weak demand outlook persists-August 16th,2022
Europe Roundup: Sterling struggles as inflation outlook worsens sentiment, European shares gains, Gold near two-week low, Oil prices ease as Russia output increases-August 18th,2022
Europe Roundup: British pound falls against dollar on gloomy BoE outlook, European shares dips,Gold falls, Oil prices set to end week at multi-month lows on recession fears-August 5th,2022
America’s Roundup: Dollar jumps vs yen as Fed officials hint more rate hikes coming, Wall Street dips, Gold near 1-month high, Oil edges up ahead of OPEC meeting despite recession worries-August 3rd,2022
Europe Roundup: Sterling loses steam as traders turn to safe-haven currencies, European shares dips, Gold steadies, Oil slips as global demand concerns weigh, OPEC+ meeting eyed-August 2nd,2022
America’s Roundup: Dollar eases as investors await inflation data for Fed clues, US stocks flat, Gold gains, Oil up nearly 2%, off multi-months low-August 9th,2022
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.