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: 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
Europe Roundup: Euro gains as dollar dips ahead of US CPI data, European shares rise, Gold holds steady, Oil prices climb on concerns over tight supplies-September 13th,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 dips ahead of CPI report, Wall Street ends higher, Gold gains , Oil prices settle higher amid supply concerns heading into winter-September 13th,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
America’s Roundup: Dollar dips as U.S. rate hike jitters restrain gains, Wall Street flat, Gold dips , Oil rises 1% on supply concerns, expectations for fuel switching-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
America’s Roundup: U.S. dollar gains as Fed reinforces hawkish stance, U.S. stocks end higher, Gold dips, Oil edges up from seven-month low as Russia threatens export halt-September 9th,2022
Europe Roundup:Euro jumps on hawkish ECB signals, European shares advances, Gold ticks, Oil prices rise as supply uncertainty mounts-September 12th,2022
Europe Roundup: Sterling languishes near 37-year low vs dollar European shares falls, Gold dips, Oil falls more than 2% on demand fears-September 19th,2022
America’s Roundup: Dollar reaches new two-decade high, Wall Street ends lower, Gold drops to 2-1/2-year lows, Oil plunges to eight-month low on strong dollar, recession fears-September 24th,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
America’s Roundup: Dollar declines against yen as Japan intervenes to stop yen slide, Wall Street ends down, Oil edges higher on Russian supply concerns in volatile trade-September 23rd,2022
Europe Roundup: Sterling recovers after BoE rate hike, European shares fall, Gold steadies, Oil rises on rebounding Chinese demand, geopolitical risks-September 22nd,2022
Europe Roundup: Sterling falls after data showed the UK economy contracted in June, European shares rise, Gold edges lower, Oil prices set for weekly climb, but cloudy outlook caps gains-August 12th,2022
• UK Jun Industrial Production (MoM) -0.9%, -1.3% forecast, 0.9%previous
• UK Jun Manufacturing Production (MoM) -1.6%,-1.8% forecast,1.4% previous
• UK GDP (YoY) (Q2) 2.9%, 2.8% forecast, 8.7% previous
• UK Business Investment (QoQ) (Q2) 3.8%,-0.3% forecast,-0.6% previous
• UK Jun Industrial Production (YoY) 2.4%,1.6% forecast,1.4% previous
• UK Jun Construction Output (MoM) -1.4% ,-1.5% forecast, 1.5% previous
• U.K. Jun Construction Output (YoY) 4.1%, 3.3% forecast,4.9% previous
• U.K. Jun Trade Balance -22.85B, -22.30B forecast,-20.67B previous
• U.K. Jun Trade Balance Non-EU -12.29B , -9.60B previous
•French Jul CPI (MoM) (0.3%,0.3% forecast,0.8% previous
• U.K.GDP (QoQ) (Q2)-0.1%,-0.2% forecast,-0.8% previous
• French Jul HICP (MoM) 0.3%, 0.3%forecast,0.9%previous
• Italian US Trade Balance -2.166B,0.350B forecast,-0.012B previous
•EU Jun Industrial Production (YoY) 2.4%,0.8% forecast, 1.6% previous
•EU Jun Industrial Production (MoM) 0.7%,0.2% forecast, 0.8% previous
Looking Ahead – Economic data (GMT)
•12:30 US Jul Import Price Index (MoM) 1.0% forecast, 0.2%previous
•12:30 US Jul Export Price Index (MoM) -1.1% forecast, 0.7% previous
•14:00 US Aug Michigan 5-Year Inflation Expectations 2.90% previous
•14:00 US Michigan Consumer Expectations 48.4 forecast, 47.3 previous
•14:00 US Aug Michigan Inflation Expectations 5.2 previous
•14:00 US Aug Michigan Consumer Sentiment 52.5 forecast,51.5 previous
•14:00 US Aug Michigan Current Conditions 59.0 forecast, 58.1 previous
•17:00 U.S. Baker Hughes Oil Rig Count 598 previous
•17:00 U.S. Baker Hughes Total Rig Count 764 previous
EUR/USD: The euro declined on Friday as markets digested a new round of hawkish remarks from policy makers at the U.S. Federal Reserve, helping the dollar regain some of its losses from earlier in the week. Market participants have toned down expectations of an aggressive rate hike by the Fed after cooler-than-expected inflation data released earlier this week. However, recent comments by some Fed officials continue to highlight a hawkish tilt. The dollar edged 0.3% higher on the day, but was down about 1.2% for the week. Fed’s Mary Daly said on Thursday that while a half-percentage-point interest rate hike in September makes sense, she is open to the possibility of a bigger hike. Immediate resistance can be seen at 1.0322(38.2%fib), an upside break can trigger rise towards 1.0412(23.6%fib).On the downside, immediate support is seen at 1.0247(50%fib), a break below could take the pair towards 1.0217(14DMA).
GBP/USD: Sterling declined against dollar on Friday after data showed Britain's economy contracted in June, even if not by as much as had been feared. The Office for National Statistics said gross domestic product fell by 0.6% in June, the biggest contraction since January 2021 but less severe than the 1.3% drop predicted by a poll of economists. The month unusually contained two bank holidays to celebrate Queen Elizabeth's Platinum Jubilee but most of the drag on GDP in June came from the winding-down of coronavirus-related health services. The pound tumbled 0.58% against the dollar to $1.2131. Immediate resistance can be seen at 1.2116(23.6%fib), an upside break can trigger rise towards 1.2275(10th Aug).On the downside, immediate support is seen at 1.2125(38.2%fib),a break below could take the pair towards 1.2085 (21DMA).
USD/CHF: The dollar edged higher against the Swiss franc on Friday as investors remained wary of Federal Reserve's stance on how aggressively it might raise interest rates despite softer inflation numbers earlier in the week.A string of Fed officials have warned investors against being optimistic following inflation data this week, with the latest being San Francisco Fed President Mary Daly, who said on Thursday that she is open to a bigger rate hike than a 50 basis point one if data warranted. The dollar index, which measures the currency against six rivals, recovered slightly and was last trading at 105.16.Immediate resistance can be seen at 0.9466(5DMA), an upside break can trigger rise towards 0.9501(38.2%fib).On the downside, immediate support is seen at 0.9381 (23.6%fib), a break below could take the pair towards 0.9340 (Lower BB).
USD/JPY: The dollar strengthened against yen on Friday worries over further rate hikes from the U.S. Federal Reserve boosted greenback.U.S. inflation figures on Wednesday and Thursday were lower than expected, boosting riskier assets such as equities and weakening the dollar, as markets interpreted the data as indicating the Fed could be less aggressive in rate hikes. But Fed officials made clear they would continue to tighten monetary policy. San Francisco Federal Reserve Bank President Mary Daly said on Thursday she was open to the possibility of another 75 basis point (bp) hike in September to fight too-high inflation. The yen lost out to the dollar's strength, with the U.S. unit up 0.5% against the Japanese currency at 133.62 . Strong resistance can be seen at 134.78(38.2%fib), an upside break can trigger rise towards 136.00(Psychological level).On the downside, immediate support is seen at 132.62(50%fib), a break below could take the pair towards 131.33 (61.8%fib).
European stocks advanced on Friday after data showed Euro zone industrial production in June grew three times more than expected on the back of a jump in the output of capital goods.
At (GMT 11:54),UK's benchmark FTSE 100 was last trading up at 0.28% percent, Germany's Dax was up by 0.43% percent, France’s CAC was up by 0.16% percent
Gold prices inched lower on Friday but were still on track for a weekly rise, as an overall weakness in the dollar offset pressure from an uptick in bond yields and worries over further rate hikes from the U.S. Federal Reserve.
Spot gold was down 0.1% at $1,787.83 per ounce, as of 0835 GMT. Bullion was still headed for its fourth straight weekly gain, up nearly 1% in its longest weekly rally in almost a year.U.S. gold futures fell 0.2% to $1,804.00.
Oil prices fell on Friday as recession fears clouded the demand outlook yet remained on track for a weekly rise.
Brent crude futures were down $1.15, or 1.2%, to $98.45 a barrel 1110 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell $1.48 or 1.6% to $92.86 a barrel.
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