America’s Roundup: U.S. dollar advances as markets brace for hefty Fed rate hike,Wall Street ends choppy session higher, Gold falls, Oil edges up as supply woes outweigh demand and rate hike worries-September 20th,2022
America’s Roundup: Dollar gains ahead of Fed rate decision,Wall Street falls, Gold retreats, Oil prices down, investors expect big Fed rate hike-September 21st,2022
America’s Roundup: Dollar retreats on hopes of less aggressive Fed, Gold firms, Oil up nearly 3% as OPEC+ agrees to small oil output cut-September 6th,2022
Europe Roundup:Euro dips against dollar on ECB rate hike unease ,European shares edge higher, Gold pares gains,Oil slides as demand fears return after OPEC-led rally-September 6th,2022
Europe Roundup: Sterling falls to 37-year low against dollar, European stocks fall, Gold dips, Oil steadies but remains on track for weekly decline-September 16th,2022
Europe Roundup: Sterling gains against the dollar, European shares dips, Gold ticks up, Oil prices stabilise on IEA demand outlook-September 14th,2022
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
Europe Roundup: Euro gains on ECB rate hike, European shares gains, Gold hits more than one-week high, Oil supported by supply threats -September 9th,2022
America’s Roundup: Dollar inches up vs yen as investors expect Fed will stay aggressive, U.S. stocks slip ,Gold falls, Oil slumps over 3% on demand concerns-September 16th,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
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 plunges near 35-year low against the dollar, European stocks bounce, Gold dips to near 2-month low, Oil falls over 1% on demand concerns, strong dollar-September 15th,2022
America’s Roundup: Dollar resumes rally, Wall Street ends lower, Gold slips, Oil sinks as demand fears take steam out of OPEC-led rally-September 7th,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: 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
America’s Roundup: Dollar dips ahead of CPI report, Wall Street ends higher, Gold gains , Oil prices settle higher amid supply concerns heading into winter-September 13th,2022
Europe Roundup: Sterling dips as economic outlook darkens rate view, European shares mixed in cautious trade,Gold steadies, Oil rises for a second day on supply tightness concerns-July 26th,2022
•Sweden Jun PPI (MoM) 2.5%, 1.8% previous
•Sweden Jun PPI (YoY) 25.6%, 24.4% previous
•UK Jul CBI Distributive Trades Survey-4, -5 previous
Looking Ahead - Economic Data (GMT)
•12:30 Canada Jun Wholesale Sales (MoM) 2.0% forecast, 1.6% previous
• 12:55 US Redbook (YoY) 14.6% previous
• 13:00 US May S&P/CS HPI Composite - 20 n.s.a. (MoM) 2.3% previous
•13:00 US May S&P/CS HPI Composite - 20 s.a. (MoM) 1.5% forecast, 1.8% previous
•13:00 US May 13:00 US House Price Index 392.9 previous
•13:00 US May S&P/CS HPI Composite - 20 n.s.a. (YoY) 20.6% forecast, 21.2% previous
• 13:00 US House May Price Index (YoY) 18.8% previous
•14:00 US Jun New Home Sales (MoM) 10.7% previous
•14:00 US Jul Richmond Manufacturing Shipments -15 previous
•14:00 US Jul Richmond Manufacturing Index -17 forecast, -11 previous
•14:00 US Jul CB Consumer Confidence 97.2 forecast, 98.7 previous
•14:00 US Jun New Home Sales 660K forecast, 696K previous
•14:30 US Jul Texas Services Sector Outlook -12.4 previous
•14:30 US Jul Dallas Fed Services Revenues 9.4 previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro declined on Tuesday as prospect of another Russian gas supply cut knocked the euro lower. European Union countries were preparing to approve an emergency proposal to curb gas demand, the prospect of which sent the single currency and German bond yields lower and hit German shares. Russia said on Monday it would cut gas flows to Germany via the Nord Stream 1 pipeline to 33 million cubic metres per day (bpd) from Wednesday. That is half of current flow, which is already only 40% of normal capacity. Immediate resistance can be seen at 1.0192(5DMA), an upside break can trigger rise towards 1.0259(38.2%fib).On the downside, immediate support is seen at 1.0132(23.6%fib), a break below could take the pair towards 1.0073(18th July low).
GBP/USD: The pound declined against the dollar on Tuesday as assessed the prospect of a 50 bps rate hike by the Bank of England against the backdrop of a worsening economic outlook.The BoE will likely shy away from a bigger interest rate rise in August and stick with the more modest 25 basis point increases it has been delivering, but it is a close call, a Reuters poll of economists found. The BoE is grappling with four-decade-high inflation, driven in large part by global pressures related to supply-chain disruptions and high energy prices. That has become a cost of living crisis, now pushing up the chances of recession. Immediate resistance can be seen at 1.2062(38.2%fib), an upside break can trigger rise towards 1.2182(38.2%fib).On the downside, immediate support is seen at 1.1962(38.2%fib), a break below could take the pair towards 1.1814(23.6%fib).
USD/CHF: The dollar steadied against the Swiss franc on Tuesday as traders waited on a rate hike from the U.S. Federal Reserve and for any clues about whether hints of a slowing economy will prompt a shift away from its focus on inflation. The Fed concludes a two-day meeting on Wednesday. Traders have been dialling back expectations as markets try and figure out if or when policymakers might pause their inflation-fighting efforts because there is signs the economy is starting to slow. Futures pricing points to a 75 basis point (bp) rate hike with a 10% risk of 100 bps. Immediate resistance can be seen at 0.9660(5DMA), an upside break can trigger rise towards 0.9686(38.2%fib).On the downside, immediate support is seen at 0.9592(23.6%fib), a break below could take the pair towards 0.9518 (Lower BB).
USD/JPY: The dollar steadied against the Japanese yen on Tuesday as investors braced for a Federal Reserve interest rate hike. Investors widely expect the U.S. Federal Reserve to raise interest rates by another 75 basis points when it concludes a two-day policy meeting on Wednesday. The Fed is expected to opt for another 75-basis-point hike rather than a larger move to quell stubbornly-high inflation as the likelihood of a recession over the next year rises to 40%.Strong resistance can be seen at 137.03 (5DMA), an upside break can trigger rise towards 138.28(23.6%fib).On the downside, immediate support is seen at 135.05 (38.2%fib), a break below could take the pair towards 134.80 (Lower BB).
European stocks were trading mixed on Tuesday as commodity-linked stocks gained ground, offsetting worries about an impending recession.
At (GMT 11:35 ),UK's benchmark FTSE 100 was last trading up at 0.51% percent, Germany's Dax was down by 0.72 % percent, France’s CAC was down by 0.30 %percent.
Gold prices held steady on Tuesday as bond yields fell a day before the U.S. Federal Reserve’s widely expected 75-basis-point rate hike.
Spot gold was little changed at $1,719.77 per ounce by 1001 GMT. U.S. gold futures fell 0.1% to $1,718.00.
Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key energy supplier to the region, cut gas supply through a major pipeline.
Brent crude futures rose $1.14, or 1.1%, to $106.29 a barrel by 1029 GMT, extending a 1.9% gain the previous day.
U.S. West Texas Intermediate (WTI) crude futures increased $1.31, or 1.4%, to $98.01 a barrel, having gained 2.1% on Monday.
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