Europe Roundup: Euro dips as lockdown worries resurfaces in Eurozone European stocks slide, Gold steadies, Oil drops below $80 on European COVID concerns-November 19th,2021
Europe Roundup: Sterling holds above 11-month lows on Omicron concerns, European shares gain, Gold ticks higher, Oil rebound as calm returns after Omicron hit-November 29th,2021
Europe Roundup: Euro edges up as investors shrug off a more hawkish Fed, European shares rise, Gold steadies, Oil slips-November 25th,2021
America’s Roundup: Dollar slips below 16-month highs as trade winds down for Thanksgiving, Wall Street ends higher, Gold edges up, Oil dips, focus on OPEC+ response to U.S.-led oil release-November 26th,2021
Europe Roundup: Sterling edges up amid expectations of BoE tightening in February , European shares hit over 1-week highs, Gold flat, Oil prices climb on easing Omicron fears, Iran delay-December 7th,2021
America’s Roundup: Dollar jumps on Powell renomination, Wall Street retreats, Gold slides over 2%-November 23rd,2021
America’s Roundup: Dollar rises on hawkish Fed, strong consumer expenditure data, Wall Street ends higher, Gold hits 3-week low, Oil steadies as investors question reserve release-November 25th,2021
America’s Roundup: U.S. dollar gains as Omicron worries ebbs, Wall Street rebounds, Gold eases, Oil pares gains, but ends higher after Friday slump-November 30th,2021
America’s Roundup: Dollar hovers close to one-week high, Wall Street closes higher, Gold edges higher, Oil rises 3%, extending rally as Omicron fears retreat-December 8th,2021
America’s Roundup: Dollar retreats from 16-month peak as investors assess Fed policy outlook, Gold rises, Oil slips to six-week lows as supply concerns resurface-November 18th,2021
Europe Roundup: Sterling sinks below $1.33 for first time in 2021, European stocks fall,Gold jumps ,Oil tumble on virus variant fears-November 26th,2021
America’s Roundup: Dollar edges higher before U.S. jobs report as Omicron fears ease, Wall Street ends higher, Gold slides, Oil ends higher after a day of wild swings on OPEC, Omicron-December 3rd,2021
Europe Roundup: Sterling gains against dollar, European stocks extend gains, Gold firms, Oil drops on oversupply warnings, rising COVID cases-November 17th, 2021
Europe Roundup: Sterling steady as rate hike expectations grow, Gold range-bound, European shares edges higher, Oil near six-week low as China readies crude reserve release-November 18th,2021
Europe Roundup: Euro falls to July 2020 lows as Germany's business morale darkens, Gold steadies, oil prices rise despite release of crude from strategic reserve-November 24th,2021
America’s Roundup: Dollar dips against yen on Omicron fears, Fed policy uncertainty, Wall Street ends lower, Gold rises, Oil steadies, paring gains as rising COVID cases spur demand worries-December 4th,2021
Europe Roundup: Sterling dips as risk sentiment sours, European stocks hit 2-month lows, Gold eases,Oil slips to $78-October 1st,2021
•German Aug Retail Sales (YoY) 0.4%1.9%forecast, -0.3% previous
•German Aug Retail Sales (MoM) 1.1%,1.5% forecast, -5.1% previous
• Spanish Sep Manufacturing PMI 58.1,58.2 forecast, 59.5 previous
•Italian Sep Manufacturing PMI 59.7, 59.4 forecast, 60.9 previous
•French Sep Manufacturing PMI 55.0, 55.2 forecast, 55.2 previous
•German Sep Manufacturing PMI 58.4,58.5forecast, 58.5 previous
•UK Sep Manufacturing PMI 57.1,56.3 forecast, 56.3 previous
•EU Sep CPI (YoY) 3.4%,.3% forecast, 3.0% previous
•EU Core CPI (YoY) 1.9%, 1.6% previous
Looking Ahead Economic Data (GMT)
•12:30 US Aug Personal Income (MoM) 0.3% forecast, 1.1% previous
•12:30 US Aug Real Personal Consumption (MoM) -0.1% previous
•12:30 US Aug PCE price index (MoM) 0.4% previous
•12:30 US PCE Price index (YoY) 4.2 previous
•12:30 US Aug Personal Spending (MoM) 0.6% forecast ,0.3% previous
•12:30 US Aug Core PCE Price Index (YoY) 3.6% forecast , 3.6% previous
•12:30 US Jul GDP (MoM) -0.2% forecast , 0.7% previous
•14:00 US Sep Manufacturing PMI 60.5 previous
•14:00 US Sep ISM Manufacturing PMI 59.6 forecast , 59.9 previous
•14:00 US Sep ISM Manufacturing Employment 49.0 previous
•14:00 US Sep ISM Manufacturing New Orders Index 66.7 previous
•14:00 US Sep Michigan Consumer Sentiment 71.0 forecast , 71.0 previous
•14:00 US Sep Michigan Current Conditions 77.1 previous
•14:00 US Sep Michigan Consumer Expectations 67.1 previous
•16:00 US Aug Dallas Fed PCE 3.20% previous
Looking Ahead - Events, Other Releases (GMT)
•17:00 US FOMC Member Harker Speaks
EUR/USD: The euro traded near recent lows on Friday as dollar strengthened as investors expected a hawkish-sounding Federal Reserve to lift U.S. interest rates sooner than its major peers. Cautious market sentiment due to COVID-19 concerns, wobbles in China’s growth and a Washington gridlock ahead of a looming deadline to lift the U.S. government’s borrowing limit also lent support to the dollar which is seen as a safe-haven asset. The euro was steady on Friday at $1.1582, but has fallen about 1.3% during the week, and through major support around $1.16, to touch its lowest levels since July 2020.Immediate resistance can be seen at 1.1608 (38.2%fib), an upside break can trigger rise towards 1.1638(50%fib).On the downside, immediate support is seen at 1.1565(23.6%fib), a break below could take the pair towards 1.1500(Psychological level).
GBP/USD: Sterling was set on Friday for its third worst week in the past year as risk sentiment soured across global financial markets while a shortage of truck drivers and a surge in energy prices disrupt and blacken the prospects of Britain’s economy.While markets have brought forward their expectations for the Bank of England to raise interest rates, the likely incoming tightening of monetary policy has failed to prop up the currency, not far from nine-month lows touched the previous day. At 0815 GMT, the pound was down 0.15% at 86.06 pence against the euro and losing 0.17% versus the dollar at $1.3450 .Immediate resistance can be seen at 1.3525(50%fib),an upside break can trigger rise towards 1.3575 (61.8%fib).On the downside, immediate support is seen at 1.3571(38.2%fib), a break below could take the pair towards 1.3407(23.6%fib).
USD/CHF: The dollar strengthened against Swiss franc on Friday as currency markets braced for U.S. interest rates to rise before those of major peers. The dollar traded near its highest levels of the year, bolstered by a surge in U.S. Treasury yields on growing expectations the Federal Reserve will taper its asset purchases by year-end and hike rates in 2022. The dollar index, which measures the currency against six major rivals, was off Thursday’s one-year high of 94.504, last changing hands at 94.287. Meanwhile, the benchmark 10-year U.S. Treasury yield was at 1.5013%. Immediate resistance can be seen at 0.9350(Higher BB), an upside break can trigger rise towards 0.9369 (23.6% fib).On the downside, immediate support is seen at 0.9312(38.2% fib), a break below could take the pair towards 0.9292(5DMA).
USD/JPY: The dollar retreated from recent high against yen on Friday ahead of key readings on inflation and industrial activity, while progress towards a bipartisan infrastructure package remained in focus. All eyes are now on consumer spending, inflation and factory activity data later in the day for signs of economic health and clues regarding the Federal Reserve’s timeline for tapering its asset purchases and hiking key interest rates. President Joe Biden signed a measure to continue funding the government through Dec. 3, although congressional Democrats and Republicans continued brawling over raising the debt ceiling beyond $28.4 trillion to avert a U.S. credit default. Strong resistance can be seen at 111.95(23.6%fib), an upside break can trigger rise towards 120.00(Psychological level).On the downside, immediate support is seen at 111.46(38.2%fib), a break below could take the pair towards 111.35(5DMA).
European stocks slumped to their lowest in two months on Friday, as warnings from companies and factory activity data highlighted the economic headwinds from supply-chain constraints and elevated prices.
At (GMT 10:50 ),UK's benchmark FTSE 100 was last trading down at 1.05 percent, Germany's Dax was down by 0.71 percent, France’s CAC was last down by 0.66 percent.
Gold eased on Friday as the dollar firmed on bets for interest rate increases but bullion still held above the pivotal $1,750 technical support level en route to a small weekly gain as worries about rising inflation and growth hurt risk sentiment.
Spot gold fell 0.2% to $1,753.67 per ounce by 0915 GMT. U.S. gold futures eased 0.2% to $1,754.30.
Oil fell to around $78 a barrel on Friday on the prospect that OPEC+ producers might step up a planned increase in output to ease supply concerns, although crude remained in sight of a three-year high reached this week.
Brent crude fell 47 cents, or 0.5%, to $77.84 at 1015 GMT, heading for a weekly decline after three weeks of gains. U.S. West Texas Intermediate (WTI) slipped 53 cents to $74.50, set for a sixth consecutive week of rises.