Europe Roundup: Euro gains as dollar dips on dovish Fed, European stocks rises, Gold gains, Oil edges higher on inventory drawdowns-29th July,2021
America’s Roundup: Dollar gains on upbeat U.S. retail sales data, Wall Street falls, Gold slips from one-month peak, Oil drops on rising supply concerns, increase in COVID cases-17th,July 2021
Europe Roundup: Sterling dips against greenback, heads for worst week in a month, European shares rise, Gold slips, Oil up, but on track for biggest weekly drop in months-July 16th,2021
Europe Roundup: Euro gains after upbeat Eurozone GDP data, European shares slip, Gold firms, Oil prices fall, but on track for weekly gain-July 30th,2021
Europe Roundup: Sterling holds firm after UK COVID-19 infections drop, European stocks rise, Gold gains,Oil rises to $75 as U.S. inventory drop counters virus worry-July 28th,2021
America’s Roundup: Dollar edges lower ahead of Fed meeting, Wall Street gains, Gold eases ,Oil steadies in undersupplied market but coronavirus cases weigh-27th July,2021
America’s Roundup: Dollar falls as Fed's Chairman Powell maintains dovish message, Wall Street ends mixed, Gold gains, Oil dips 2% on oversupply fears after OPEC negotiates a deal-July 15th,2021
America’s Roundup: Dollar rises after U.S. inflation data, Wall Street falls, Gold flat, Oil gains nearly 2% as investors size up tight market-14th July,2021
Europe Roundup: Euro softer after ECB pledged record low rates for longer, European shares gain,Gold little changed, Oil slips but set to end week steady on tight supply-July 23rd,2021
America’s Roundup: Dollar falls as Fed talks about tapering but sets no timeline, Wall Street ends mixed,Gol
Europe Roundup: Euro edges higher against greenback ahead of ECB meeting, European stocks gains, Gold eases, Oil prices rise on signs of tightening supplies-22nd July,2021
America’s Roundup: Dollar bounces after U.S. consumer spending rises strongly in June ,Wall Street falls, Gold retreats, Oil climbs, notches fourth monthly gain on growing demand-July 31st,2021
Europe Roundup: Euro dips as focus turns to U.S. inflation data, European shares ease, Gold little changed,Oil climbs on expected further draw in crude inventories-July 13th,2021
America’s Roundup: U.S. dollar inches higher to three-month peak,Wall Street gains, Gold little changed, Oil rebounds as market seizes on discounted prices-July 21st,2021
Europe Roundup: Euro dips against dollar as markets await cues from Fed meet, European shares falls, Gold little changed, Oil steadies as supply shortages outweigh the spread of the virus-27th July,2021
Europe Roundup: Sterling edges up as UK COVID infections dips, European stocks dips, Gold rises, Oil falls $1 as coronavirus, slower China imports hit demand-26th July,2021
Europe Roundup: Sterling drops below $1.39, weighed down Fed and UK retail sales miss ,European shares falls, Gold gains,Oil falls amid dollar strength-June 18th,2021
•German May PPI (YoY ) 7.2%,6.4% forecast, 5.2% previous
•German May PPI (MoM) 1.5% , 0.7% forecast, 0.8% previous
•UK May Retail Sales (MoM) -1.4%,1.6% forecast, 9.2% previous
•UK May Core Retail Sales (MoM) -2.1%,1.5% forecast, 9.0% previous
•UK May Core Retail Sales (YoY) 21.7%,27.3% forecast, 37.7% previous
•UK May Retail Sales (YoY) 24.6%,29.0% forecast, 42.4% previous
•EU April Current Account n.s.a 31.4B, 31.0B previous
•EU April Current Account 22.8B, 17.8B previous
Looking Ahead - Economic Data (GMT)
•12:30 Canada May New Housing Price Index (MoM) 1.9% previous
•17:00 U.S. Baker Hughes Oil Rig Count 359 previous
•17:00 U.S. Baker Hughes Total Rig Count 456 previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro was flat against dollar on Friday as the single currency struggled to shake off the pressure exerted by the Federal Reserve's sudden aggressive change of tone. The euro was unable to make up for the losses of the past two days. The euro was hovering around $ 1.19, unchanged against the dollar, and was 1.6% on track for its worst week since October. Immediate resistance can be seen at 1.1928(38.2%fib), an upside break can trigger rise towards 1.1992 (50%fib).On the downside, immediate support is seen at 1.1885(Daily low), a break below could take the pair towards 1.1840 (23.6% fib).
GBP/USD Sterling extended its fall against the U.S. dollar on Friday, dropping below $1.39, hurt by the U.S. Federal Reserve’s hawkish surprise while data also showed an unexpected fall in Britain’s retail sales.The pound dropped against a strengthening dollar on Thursday after the Fed surprised markets by signalling it would raise interest rates and end emergency bond-buying sooner than expected On Friday, it fell further against both dollar and euro. At 0747 GMT it was down 0.4% on the day $1.3871, having touched as low as $1.38555 - its weakest since May 4. It was on track for its worst week since September 2020.Immediate resistance can be seen at 1.3929 (61.8% fib), an upside break can trigger rise towards 1.3983(50%fib).On the downside, immediate support is seen at 1.3886 (23.6%fib), a break below could take the pair towards 1.3800 (May 3rd low).
USD/CHF: The dollar rose against the Swiss franc on Friday as the dollar crept up to near two-month highs after the U.S. Federal Reserve this week projected higher interest rates in 2023. While the Fed indicated no clear end to supportive policy measures such as bond buying, signals of faster-than-expected rate hikes underscored its inflation concerns as the U.S. economy recovers from the COVID-19 pandemic. Immediate resistance can be seen at 0.9203 (23.6%fib), an upside break can trigger rise towards 0.9242 (April 16th high).On the downside, immediate support is seen at 0.9146 (38.2%fib), a break below could take the pair towards 0.9107 (50%fib).
USD/JPY: The dollar edged higher against the yen on Friday after Bank of Japan kept its main policy settings steady, as expected. On Friday, the Bank of Japan announced a plan to increase funding to address climate change and, together with more and more central banks, stepped up efforts to deal with economic and financial impacts, which surprised the market. The central bank also maintained its massive stimulus to support the economy and extended a September deadline for its pandemic-relief programme, suggesting that Japan will lag well behind the United States in ending crisis-mode policies. Strong resistance can be seen at 110.49 (38.2%fib), an upside break can trigger rise towards 111.07 (23.6%fib).On the downside, immediate support is seen at 110.01(50%fib), a break below could take the pair towards 109.55 (61.8% fib).
A decline in banking and energy stocks hit European stocks on Friday, with an aggressive political outlook from the US Federal Reserve also reducing the STOXX 600's fifth consecutive weekly gain.
At (GMT 11:30 ),UK's benchmark FTSE 100 was last trading down at 1.13 percent, Germany's Dax was down by 0.93 percent, France’s CAC finished was down by 0.55 percent.
Gold rose 1% on Friday as a pause in the dollar's rally helped the gold bullion regain some ground from a sharp decline in previous sessions, fueled by the Federal Reserve’s hawkish tilt .
Spot gold climbed to $1,790.59 per ounce by 0908 GMT, but was down 4.5% for the week. U.S. gold futures gained 1% to $1,791.70.
Oil prices fell for the second year in a row on Friday, as the US dollar soared in anticipation of a US interest rate hike.
Brent crude futures were down 52 cents, or 0.7%, at $72.56 a barrel as of 1100 GMT, extending a 1.8% decline on Thursday. The contract is set to be largely steady for the week.