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 bounces from two-week low, Wall Street closes higher, Gold prices dip, Oil falls on lackluster U.S. summer gasoline demand-July 21st,2022
America’s Roundup: Dollar falls for third session, Wall Street closes sharply higher , Gold gains, Oil settles up 1% at 2-week high on worries about tight supply-July 20th,2022
America’s Roundup: Dollar dips as U.S. growth falls in Q2,Wall Street rises, Gold gains, Oil mixed as U.S. gasoline demand rebounds but recessionary fears loom-July 29th,2022
Europe Roundup: Euro holds near 2-week high,European shares falls, Gold steadies, Oil prices slip ahead of U.S. inventory data-July 20th,2022
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
America’s Roundup: Dollar slips after dismal U.S. data ,Wall Street closes lower, Gold gains, U.S. crude ends below $95/bbl as EU tweaks Russian oil sanctions-July 23rd,2022
Europe Roundup: Sterling slips as BoE delivers big rate hike but warns of long recession,European shares gains, Gold gains over 1%, Oil prices stabilize after drop to near 6-month low-August 4th,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 slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,2022
Europe Roundup:Euro rallies on prospect of bigger ECB rate hikes, European shares gains,Gold prices steady, Oil prices fall on economic slowdown warnings-July 19th,2022
America’s Roundup: Dollar gains after stronger-than-expected payrolls data , Wall Street ends mixed, Gold dips 1%, Oil prices end week on multi-month lows on recession fears, Oil prices end week on multi-month lows on recession fears-August 6th,2022
Europe Roundup: Sterling gains, shrugs off factory data ahead of BoE, European shares rise, Gold extends gains, Oil drops as weak Chinese factory data heightens demand concerns-August 1st,2022
Europe Roundup:Euro gains on upbeat Eurozone GDP data, European shares rises, Gold gains,Oil prices rise as chances of OPEC+ supply boost dim-July 29th,2022
America’s Roundup: Dollar falls after Fed raises rates by 75 bps ,Wall Street ends higher, Gold ticks up, Oil settles higher on U.S. inventory drop, Russia gas cuts-28th July, 2022
America’s Roundup: Dollar dips as rate hike bets ease, Wall Street closes down, Gold firms, Oil gains $5 on weaker dollar, tight supplies-July 19,2022
Europe Roundup: Sterling dips on Brexit risks and economic woes, European shares rise,Gold firms, Oil extends gains as major producers flag capacity limits-June 28th,2022
• German Jul GfK German Consumer Climate -27.4, -27.6 forecast,-26.0 previous
•Sweden May Retail Sales (YoY) -2.3%, 2.4% previous
• French Jun Consumer Confidence 82, 84 forecast, 86 previous
• Italian Apr Industrial Sales (YoY) 22.00% forecast, 21.40% previous
• Italian Apr Industrial Sales (MoM) 2.70% forecast, 2.40% previous
• Irish May Retail Sales (MoM) 0.0% forecast, 3.8% previous
Looking Ahead - Economic Data (GMT)
• 12:30 US May Goods Trade Balance -106.70B previous
•12:30 US May Retail Inventories Ex Auto 1.7% previous
• 12:30 US Wholesale Inventories (MoM) 2.1% forecast, 2.2% previous
• 12:55 US Redbook (YoY) 12.8% previous
• 13:00 US Apr S&P/CS HPI Composite - 20 n.s.a. (YoY) 21.0% forecast, 21.2% previous
• 13:00 US Apr S&P/CS HPI Composite - 20 n.s.a. (MoM) 3.1% previous
• 13:00 US S&P/CS HPI Composite - 20 s.a. (MoM) 2.0% forecast, 2.4% previous
• 14:00 US CB Jun Consumer Confidence 100.4 forecast, 106.4 previous
• 14:00 US Jun Richmond Manufacturing Shipments -14 previous
•14:00 US Jun Texas Services Sector Outlook 1.5 previous
•14:00 US Jun Dallas Fed Services Revenues 6.3 previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro held below $1.06 as European Central Bank (ECB) President Christine Lagarde offered no fresh insight on the central bank's policy outlook. The ECB is widely expected to follow its global peers by raising interest rates in July to check soaring inflation though economists are divided on the magnitude of the rate hike to protect a struggling economic recovery due to high oil prices. The euro held below $1.06 after the ECB's Lagarde said the central bank would move gradually but with the option to act decisively on any deterioration in medium-term inflation. Immediate resistance can be seen at 1.0606(38.2%fib),an upside break can trigger rise towards 1.0693(50%fib).On the downside, immediate support is seen at 1.0546(5DMA), a break below could take the pair towards 1.0476(23.6%fib).
GBP/USD: Sterling dipped against dollar on Tuesday amid flaring Brexit-related risks and a murky economic backdrop. Monday saw British Prime Minister Boris Johnson pressing on with plans to pass legislation through parliament this year to scrap some of the rules on post-Brexit trade with Northern Ireland. Attention instead remains on the UK economic backdrop, which saw inflation hit a 40-year record of 9.1% last month, the highest level of the G7 countries. Traders will be listening closely to the Bank of England governor Andrew Bailey who is due to speak Wednesday at the European Central Bank Forum on Central Banking 2022. Immediate resistance can be seen at 1.2257(5DMA),an upside break can trigger rise towards 1.2336(38.2%fib).On the downside, immediate support is seen at 1.2178(23.6%fib), a break below could take the pair towards 1.2107(June 13th low).
USD/CHF: The dollar edged higher from recent low against the Swiss franc on Tuesday as investors awaited a speech from central bank chief Christine Lagarde, while worries about a recession kept the U.S. slightly dollar firm. The European Central Bank's Forum on Central Banking in Sintra continued on Tuesday with ECB President Christine Lagarde affirming plans to begin hiking interest rates from next month.Lagarde said the ECB will move gradually when it begins raising rates but with the option to act decisively on any deterioration in medium-term inflation, especially if there are signs of a de-anchoring of inflation expectations. Immediate resistance can be seen at 0.9592(5DMA), an upside break can trigger rise towards 0.9677 (38.2%fib).On the downside, immediate support is seen at 0.9539(23.6%fib), a break below could take the pair towards 0.9422(Lower BB).
USD/JPY: The dollar steadied against the Japanese yen on Tuesday as investors remained focused on inflation risks and monetary tightening. The dollar held modest overnight gains on other currencies and traded at 135.37 yen .The U.S. dollar index struck a two-decade high of 105.79 this month and was last steady at 103.93. German inflation figures are due on Wednesday, French data on Thursday and euro zone numbers on Friday.At (GMT 12:16),greenback was trading higher 0.45 % versus the yen to 136.06. Strong resistance can be seen at 136.19 (23.6%fib), an upside break can trigger rise towards 137.00(Psychological level).On the downside, immediate support is seen at 134.90(14DMA), a break below could take the pair towards 132.92(38.2%fib).
European shares rose on Tuesday, led by commodity-linked stocks and automakers after China relaxed its COVID-19 quarantine mandate, with investors eyeing the European Central Bank's (ECB) annual forum for clues on monetary policies.
At (GMT 12:10 ),UK's benchmark FTSE 100 was last trading up at 1.39 percent, Germany's Dax was up by 0.94 percent, France’s CAC was last up by 1.36 percent.
Gold edged up on Tuesday but gains were capped by higher U.S. Treasury yields as investors focus on the ECB central bankers’ forum in Portugal.
Spot gold rose 0.2% to $1,826.09 per ounce by 0935 GMT. U.S. gold futures firmed 0.1% to $1,827.30.
Oil costs rallied for a 3rd day on Tuesday as major producers Kingdom of Saudi Arabia and United Arab Emirates looked unlikely to be able to boost output considerably and political unrest in African country and Ecuador added to supply concerns.
U.S. West Texas Intermediate (WTI) crude futures rose $1.65, or 1.5%, to $111.22 a barrel by 0927 GMT, extending a 1.8% gain in the previous session.
Brent crude futures climbed $1.83, or 1.5%, to $116.92, adding to the previous session's 1.7% rise.