Europe Roundup: Euro dips as dollar climbs ahead of inflation data, European shares edge lower ,Gold ticks higher, Oil drops for fourth day on China demand concerns-November 11th,2022
America’s Roundup: Dollar rises as China COVID worries spook markets,Wall Street slips, Gold dips, Oil rebounds from early plunge after Saudis deny OPEC+ output report-November 22nd,2022
America’s Roundup: Dollar extends slide for a second straight day, Wall Street ends end higher, Gold extended gains, Oil settles higher, posts weekly loss as China eases COVID curbs-November 12th,2022
America’s Roundup: U.S. dollar gains as investors assess Fed path, Wall Street ends lower, Gold steadies, Oil settles $3 lower on China COVID surge and firmer dollar-November 15th,2022
Europe Roundup: Sterling slips as dollar edges higher ,European shares range bound, Gold dips, Oil prices dip on China demand worries-November 8th,2022
America’s Roundup: U.S. dollar edges higher ahead of US inflation data, Wall Street ends lower, Gold ticks lower, Oil prices plunge 3% on U.S. inventory build, China COVID worries-November 10th,2022
Market Roundup: Sterling set for third straight weekly gain,European shares mixed, Gold subdued, Oil prices rise, but Chinese demand worries linger
Europe Roundup: Sterling holds near 3-month high against weaker dollar ,European shares gain, Gold firms, Oil drops as Russian price cap proposal eases concerns about tight supply-November 24th,2022
America’s Roundup: Dollar edges up in range-bound holiday markets, Wall Street ends mixed, Gold steadies, Oil prices fall 2% as Chinese demand worries linger-November 26th,2022
America’s Roundup: Dollar gains on hawkish Fed tilt, Wall Street ends higher, Gold falls, Oil slides 2 percent-November 19th,2022
Europe Roundup: Sterling climbs as dollar rally wanes ,European shares gain, Gold advances, Oil rises as Saudi comments outweigh recession concerns-November 22nd,2022
America’s Roundup: Dollar slides as U.S. inflation data cements Fed slowdown bets, Wall Street ends sharply higher, Gold soars over 2%, Oil prices settle 1% higher on tepid U.S. inflation data-November 11th,2022
Europe Roundup: Sterling gains after better-than-expected retail sales data , European shares bounce, Gold ticks up, Oil slides on China demand concerns, easing supply worries-November 18th,2022
America’s Roundup: Dollar extends losses as Fed minutes signal slower rate hikes,Gold gains, Oil muted as price cap proposal eases supply concerns-November 25th,2022
America’s Roundup: U.S. dollar falls as Fed signals slowdown in rate hikes, Wall Street rises, Oil slides over 3% on Russian price cap talks-November 24th ,2022
America’s Roundup: Dollar rises with bets on hawkish Fed, Wall Street ends lower, Gold slides 1%, Oil falls on worries of U.S. rate hikes, China demand outlook-November 18th,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
•UK Aug Retail Sales (YoY) -5.4%, 4.2% forecast, -3.4% previous
•UK Aug Core Retail Sales (MoM) -1.6%, -0.7% forecast, 0.4% previous
•UK Aug Core Retail Sales (YoY) -5.0%, -3.4% forecast, -3.0% previous
•German Jul Car Registration (MoM) -3.3% forecast, 8.4% previous
•German Jul Car Registration (YoY) 3.0% forecast, -18.1% previous
•French Car Jul Registration (MoM) -15.0% forecast, 34.9% previous
•UK Jul Car Registration (YoY) 1.2% forecast, -24.3% previous
•UK Aug Retail Sales (MoM) -1.6%, -0.5% forecast, 0.3% previous
•Italian Jul Trade Balance -0.361B, -1.500B forecast, -2.166B previous
•EU Aug HICP ex Energy and Food (MoM) 0.7%, 0.6% forecast, 0.2% previous
•EU Aug CPI (MoM) 0.6% ,0.5% forecast, 0.1% previous
•EU Aug HICP ex Energy & Food (YoY) 5.5%, 5.5% forecast, 5.5% previous
•EU Aug Core CPI (MoM) 0.5%, 0.5% forecast, 0.5% previous
•EU Aug CPI (YoY) 9.1% , 9.1% forecast, 9.1% previous
•EU Aug Core CPI (YoY) 4.3%, 4.3% forecast, 4.3% previous
•Italian Aug CPI (MoM) 0.8%, 0.8% forecast, 0.8% previous
•Italian Aug CPI Ex Tobacco (MoM) 8.1%, 7.8% previous
•Canada Jul Foreign Securities Purchases 0.01B, -17.54B previous
•Canada Jul Foreign Securities Purchases by Canadians 4.30B, -12.30B previous
•Canada Jul Wholesale Sales (MoM) -0.6%,-0.6% forecast, 0.1% previous
Looking Ahead - Economic Data (GMT)
•14:00 US Sep Michigan Inflation Expectations 4.8% previous
•14:00 US Sep Michigan 5-Year Inflation Expectations 2.90% previous
•14:00 US Sep Michigan Consumer Sentiment 60.0 forecast, 58.2 previous
•14:00 US Sep Michigan Consumer Expectations 59.7 forecast, 58.0 previous
•14:00 US Sep Michigan Current Conditions 60.8 forecast, 58.6 previous
•17:00 U.S. Baker Hughes Oil Rig Count 591 previous
•17:00 U.S. Baker Hughes Total Rig Count 759 previous
Looking Ahead - Events, Other Releases (GMT)
•No data ahead
EUR/USD: The euro dipped against dollar on Friday as after the European Central Bank vice president said an economic slowdown in the euro zone would not be enough to control inflation and the bank will have to keep raising interest rates.Traders will now shift their focus to a slew of monetary policy meetings by the Federal Reserve, the Bank of Japan (BOJ), and the Bank of England next week, with the Fed in centre stage. Recent hawkish remarks from Fed policymakers and an unexpected rise in August U.S. consumer prices cemented bets for a 75-basis-point rate hike by the U.S. central bank at its Sept.20-21 policy meeting. Immediate resistance can be seen at 1.0002(9DMA), an upside break can trigger rise towards 1.0062 (38.2%fib).On the downside, immediate support is seen at 0.9942 (23.6%fib), a break below could take the pair towards 0.9747 (Lower BB).
GBP/USD: Sterling dipped against the dollar on Friday after weaker-than-expected retail sales figures reinforced fears about Britain's economy. The pound fell more than 1% against the dollar to $1.1351, its lowest since 1985, and was last trading at $1.1404.Most major currencies have been struggling against the dollar in recent months, and the greenback was given another leg-up this week after hotter-than-expected U.S. inflation caused markets to price in a further large rate hike from the Federal Reserve next week. Immediate resistance can be seen at 1.1492(38.2%fib), an upside break can trigger rise towards 1.1523 (9 DMA).On the downside, immediate support is seen at 1.1364 (Daily low), a break below could take the pair towards 1.1287 (lower BB).
USD/CHF: The dollar strengthened against the Swiss franc on Friday as traders continued to bet that the U.S. Federal Reserve will be aggressive next week in its battle to curb inflation. Markets are pricing in a 75-basis-point rate hike by the U.S. central bank at its Sept. 20-21 policy meeting after consumer prices unexpectedly rose in August.Data on Thursday showed that U.S. retail sales unexpectedly rose in August as lower gasoline prices supported spending, while U.S. jobless claims fell last week. Immediate resistance can be seen at 0.9655 (9DMA), an upside break can trigger rise towards 0.9715 (23.6%fib).On the downside, immediate support is seen at 0.9606 (38.2%fib), a break below could take the pair towards 0.9521(50%fib).
USD/JPY: The dollar dipped against the Japanese yen on Friday helped slightly by hopes of a potential currency intervention. Japan's threats of currency intervention might slow but not stop the yen from hurtling towards three-decade lows before the year end.The yen has already lost more than 20% of its value this year to reach a 24-year trough at 144.99 per dollar last week , including a more than 7% tumble over the past month alone. The BOJ's next policy update comes on Thursday, when it is mostly expected to press on with its yield curve control policies that pin the short-term rate at -0.1% and the 10-year yield around zero via massive bond-purchases. Strong resistance can be seen at 143.63 (23.6%fib), an upside break can trigger rise towards 144.98 (Sep 14th high).On the downside, immediate support is seen at 142.80 (11 DMA), a break below could take the pair towards 141.51 (38.2%fib).
European stocks fell on Friday as investors braced for a U.S. rate hike next week amid more warning signs pointing to a global economic slowdown.
At (GMT 12:38),UK's benchmark FTSE 100 was last trading down at 0.35 %percent, Germany's Dax was down by 1.75 % percent, France’s CAC finished was down by 1.52% percent.
Gold prices eased for a fourth consecutive session on Friday to their lowest since April 2020, as expectations of a hefty interest rate hike from the U.S. Federal Reserve next week boosted the dollar and Treasury yields.
Spot gold fell 0.2% to $1,661.30 per ounce by 1049 GMT. U.S. gold futures shed 0.4% to $1,670.70.
Oil steadied on Friday after a sharp fall in the previous session, but pricess remained on track for a weekly decline on fears of hefty interest rate increases that are expected to curb global economic growth and demand for fuel.
Brent crude futures were up $1.04, or 1.1%, at $91.88 a barrel by 1214 GMT but were down 1% over the week.
U.S. West Texas Intermediate (WTI) crude futures gained 69 cents, or 0.8%, to $85.79, down 1.2% this week.