Europe Roundup: Euro steady ahead of ECB's rate decision, European shares dips, Gold hits over 1-year low, Oil prices slump as stockpiles and rate hikes stoke demand fears-July 21st,2022
Europe Roundup: Sterling loses steam as traders turn to safe-haven currencies, European shares dips, Gold steadies, Oil slips as global demand concerns weigh, OPEC+ meeting eyed-August 2nd,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
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: 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 dips ahead of U.S. Fed meeting's outcome, Wall Street ends lower, Gold virtually unchanged, Oil settles down on lower U.S. consumer confidence –July 27th,2022
Europe Roundup: Sterling drifts higher but capped by weak data, European shares gain, Gold ticks up, Oil rises on U.S. inventory drop, Russian gas cuts-July 27th,2022
Europe Roundup: Euro falls as gloomy PMIs cloud prospects for future ECB hikes, European shares edge higher, Gold little changed, Oil prices fall as Libya resumes output, global demand outlook darkens-July 22nd,2022
America’s Roundup: Dollar falls ahead of Fed meeting,Wall Street closes on mixed note,Gold dips, Oil rises as Russian gas cut to Europe may encourage switching to crude-July 26th,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 edges higher ahead of Thursday's BoE decision , European shares inch higher, Gold rebounds, Oil prices dip ahead of OPEC+ meeting-August 3rd,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 edges down, Wall Street ends mixed , Gold gains, Oil prices hit lowest level since the invasion of Ukraine on recession fears-August 5th,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 dips against dollar ahead of US GDP data, European shares mixed, Gold hits a three-week high, Oil extends gains as risk appetite improves, U.S. inventories fall-July 28th,2022
America’s Roundup: Dollar slips after soft US economic data, Wall Street closes higher, Oil slumps $3/bbl on gasoline stockpiles, rate hikes and resuming supply-July 22nd ,2022
Europe Roundup: Sterling gains against dollar, European stocks extend gains, Gold firms, Oil drops on oversupply warnings, rising COVID cases-November 17th, 2021
•UK Oct CPI, n.s.a 113.60, 112.40 previous
•UK Oct CPI (MoM) 1.1%,0.8% forecast, 0.3% previous
•UK Oct Core CPI (YoY) 3.4%, 3.1% forecast, 2.9% previous
•UK Oct PPI Output (MoM) 1.1%, 0.8% forecast, 0.5% previous
•UK Oct Core CPI MoM (MoM) 0.7%, 0.4% forecast, 0.4% previous
•UK Oct RPI (YoY) 6.0%,5.7% forecast, 4.9% previous
•UK Oct CPI (YoY) 4.2%,3.9% forecast, 3.1% previous
•UK Oct PPI Input (MoM) 1.4%, 1.1% forecast, 0.4% previous
•UK Oct Core PPI Output (YoY) 6.5%,5.9% previous
•EU Oct CPI (MoM) 8.0%, 0.8% forecast, 0.5% previous
•EU Sep Construction Output (MoM) 0.93%, -1.28% previous
•EU Oct CPI (YoY) 4.1%,4.1% forecast, 4.1% previous
•EU Oct HICP ex Energy & Food (YoY) 2.1% forecast, 2.1% previous
•EU Oct Core CPI (YoY) 2.0%, 2.1% forecast, 2.1% previous
Looking Ahead Economic Data (GMT)
•13:30 Canada Common CPI (YoY) 1.8% previous
•13:30 Canada Median CPI (YoY) 2.8% previous
•13:30 Canada Median CPI (YoY) 2.8% previous
•13:30 US Oct Building Permits (MoM) -7.8% previous
•13:30 Canada Oct CPI (MoM) 0.7% forecast, 0.2% previous
•13:30 US Oct Building Permits 1.638M forecast, 1.586M previous
•13:30 US Oct Housing Starts 1.576M forecast, 1.555M previous
•13:30 Canada Oct Core CPI (YoY) 3.7% previous
•13:30 US Oct Housing Starts (MoM) -1.6% previous
•13:30 Canada Oct Core CPI (MoM) 0.3% previous
•15:30 US Crude Oil Inventories 1.398M forecast, 1.001M previous
Looking Ahead - Events, Other Releases (GMT)
•16:00 German Buba Vice President Buch Speaks
•16:00 US FOMC Member Bowman Speaks
•17:40 US FOMC Member Daly Speaks
•14:00 ECB's Schnabel Speaks
•14:10 US FOMC Member Williams Speaks
•14:30 Canada BoC Financial System Review
EUR/USD: The euro initially dipped on Wednesday but recovered most of the ground after Euro zone Oct inflation data. Euro zone inflation surged to more than twice the European Central Bank's target in October, the European Union's statistics office Eurostat confirmed on Wednesday, with more than half of the jump due to a spike in energy prices.Eurostat said inflation in the 19 countries sharing the euro rose 0.8% month-on-month in October, for a 4.1% year-on-year surge, in line with an earlier Eurostat estimate. Immediate resistance can be seen at 1.1330 (Daily high), an upside break can trigger rise towards 1.1371 (38.2%fib).On the downside, immediate support is seen at 1.1302 (23.6 % fib), a break below could take the pair towards 1.1204(Daily low).
GBP/USD: The pound was steady against dollar on Wednesday as data showed UK inflation surged to a 10-year high last month, boosting expectations of a rate hike as early as next month.The Bank of England is expected to become the first major central bank to raise rates since the coronavirus pandemic crisis rocked the global economy with markets pricing a 61% chance this will happen at a Dec. 16 meeting. British Brexit minister David Frost said on Wednesday that his government’s preference was to strike a deal to improve post-Brexit trade arrangements for Northern Ireland and that the agreement can be reached by Christmas. Immediate resistance can be seen at 1.3460(38.2% fib), an upside break can trigger rise towards 1.3520 (50%fib).On the downside, immediate support is seen at 1.3408 (5DMA), a break below could take the pair towards 1.3383(23.6%fib).
USD/CHF: The dollar strengthened against the Swiss franc on Wednesday as dollar was propelled higher by better-than-expected U.S. retail data. U.S. retail sales rose faster-than-expected in October, potentially encouraging the U.S. Federal Reserve to accelerate the tapering of its asset purchase programme, as inflation remains stubbornly high. The dollar index - which measures the currency against six rivals - climbed to 96.26, its highest since last July. Immediate resistance can be seen at 0.9337 (23.6% fib), an upside break can trigger rise towards 0.9400 (Psychological level).On the downside, immediate support is seen at 0.9289 (38.2%fib), a break below could take the pair towards 0.9251(50%fib ).
USD/JPY: The dollar held near recent highs against the Japanese yen on Wednesday as greenback was supported by robust U.S. data and hawkish comments from Fed policymakers. U.S. retail sales rose more than expected in October, a report showed Tuesday, building on momentum from last week when data showed consumer prices rising at the highest rate since 1990.Money markets are pricing in a high probability of a Fed rate increase in June, followed by another in November. CME data suggest a 50% probability of a 25 bps rate hike by July 2022.The greenback rose as high as 114.98 yen before last changing hands flat at 114.82. Strong resistance can be seen at 114.94 (38.2% fib), an upside break can trigger rise towards 115.55 (23.6%fib).On the downside, immediate support is seen at 114.47 (50%fib), a break below could take the pair towards 114.00 (61.8% fib).
European stocks inched up for a sixth consecutive session to trade near record highs on Wednesday, as some positive earnings reports helped overshadow worries that soaring natural gas prices were feeding into inflationary pressures.
At (GMT 10:40 ),UK's benchmark FTSE 100 was last trading down at 0.36 percent, Germany's Dax was up by 0.10 percent, France’s CAC finished was up by 0.10 percent.
Gold prices rose on Wednesday as concern about inflation kept some investors on edge, while expectations that rising prices may prompt central banks to increase interest rates strengthened the dollar and capped bullion’s advance.
Spot gold rose 0.6% to $1,860.21 per ounce by 0912 GMT. U.S. gold futures gained 0.5% to $1,862.40.
Oil prices fell on Wednesday after the International Energy Agency (IEA) and OPEC warned of impending oversupply and as COVID-19 cases in Europe increased the downside risks to demand recovery, though a fall in U.S. gasoline stocks curbed losses.
Brent crude futures dropped 79 cents, or 1%, by 1038 GMT to $81.64 a barrel, erasing Tuesday’s 38 cent gain.
U.S. West Texas Intermediate (WTI) crude futures fell 94 cents, or 1.2%, to $79.82 a barrel, extending a 12 cent loss from Tuesday.