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
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 jumps vs yen as Fed officials hint more rate hikes coming, Wall Street dips, Gold near 1-month high, Oil edges up ahead of OPEC meeting despite recession worries-August 3rd,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
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 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
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
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
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: 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
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
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 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 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
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 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: Sterling heads for third week of losses as dollar stands tall, European shares gains, Gold falls, Oil rises on tight supply though interest rate hikes weigh-June 17th,2022
•EU May CPI (MoM) 0.8%,0.8% forecast, 0.6%previous
•Italian Apr Trade Balance -3.666B,-0.084B previous
• EU May CPI (YoY) 8.1%,8.1% forecast,8.1% previous
• EU May Core CPI (YoY) 3.8%,3.8% forecast,3.8% previous
• EU May HICP ex Energy and Food (MoM) 0.7%,0.7% forecast, 1.2% previous
• EU May CPI ex Tobacco (MoM) 0.8%, 0.6% previous
•Canada May IPPI (MoM) 1.7%, 0.5% forecast, 0.8% previous
•Canada May IPPI (YoY) 15.0%,16.4% previous
•Canada Apr Foreign Securities Purchases 22.23B, 46.94B previous
•Canada Apr Foreign Securities Purchases by Canadians 29.20B,-23.98B previous
• US May Industrial Production (YoY) 5.83%, 6.40% previous
• US May Manufacturing Production (MoM) -0.1%,0.3% forecast,0.8% previous
• US May Capacity Utilization Rate 79.0%,79.2% forecast, 79.0% previous
• US May Industrial Production (MoM) 0.2%, 0.4% forecast, 1.1% previous
Looking Ahead Economic Data(GMT)
• 14:00 US Leading Index (MoM) -0.4% forecast, -0.3% previous
•17:00 U.S. Baker Hughes Oil Rig Count 580 previous
•17:00 U.S. Baker Hughes Total Rig Count 733 previous
Looking Ahead - Events, Other Releases (GMT)
•12:45 US Fed Chair Powell Speaks
•16:00 US Fed Monetary Policy Report
EUR/USD: The euro declined against dollar on Friday as a slew of interest rate hikes from major central banks fuelled worries about a sharp economic slowdown. Markets were heading for their biggest weekly decline since markets' pandemic meltdown in March 2020, hit by growing worries about a recession after rate increases in the United States and Britain were followed by a surprise move in Switzerland to quell an inflation surge. The ECB also faces high inflation, though perhaps a more delicate task because its economies feel even more strongly the headwinds from Russia's invasion of Ukraine, which has driven up energy prices worldwide. Immediate resistance can be seen at 1.0570(11DMA),an upside break can trigger rise towards 1.0637(50%fib).On the downside, immediate support is seen at 1.0445(23.6%fib), a break below could take the pair towards 1.0332(Lower BB).
GBP/USD: Sterling slipped on Friday against a strengthening U.S. dollar, giving up gains made a day earlier after the Bank of England raised interest rates. The pound had on Thursday gained 1.4% versus the dollar, buoyed by the Bank of England’s 0.25% interest rate rise.The increase surprised some investors who had expected a more aggressive move to douse soaring inflation in Britain, though most predicted it would support the pound with further rate hikes likely through the year. The pound fell as much as 0.5% against the dollar to $1.2290 , off from a one-week high of $1.2405 touched a day earlier. It was last at $1.23015. Immediate resistance can be seen at 1.2309(38.2%fib),an upside break can trigger rise towards 1.2508 (50%fib).On the downside, immediate support is seen at 1.2180(5DMA), a break below could take the pair towards 1.2068(23.8%fib).
USD/CHF: The dollar declined sharply against the Swiss franc on Friday as shock Swiss rate hike boosted Swiss franc. A shock 50 basis point rate hike from the Swiss National Bank overnight sent the franc on its sharpest rise in seven years, forced an unwind of carry trades and set off a new round of worry that rising global rates will snuff out growth. The Swiss franc surged to a two-week high against dollar, and was 1.8% higher at 1.0194 as of 0905 GMT.Immediate resistance can be seen at 0.9683 (50%fib), an upside break can trigger rise towards 0.9815(38.2%fib).On the downside, immediate support is seen at 0.9622 (Daily low), a break below could take the pair towards 0.9550(61.8%fib).
USD/JPY: The dollar strengthened against Japanese yen on Friday after the Bank of Japan bucked a wave of tightening and stuck with its ultra-accommodative stance, adding to soaring volatility in currency markets hit by a series of rate hikes this week . The Bank of Japan maintained ultra-low interest rates on Friday and vowed to defend its cap on bond yields with unlimited buying, bucking a global wave of monetary tightening in a show of resolve to focus on supporting a tepid economic recovery. The yen fell as much as 1.9% and bond yields fell after the decision, which was widely expected but disappointed some market players who speculated the BOJ could give into market forces and tweak its yield cap policy. Strong resistance can be seen at 135.25 (23.6%fib), an upside break can trigger rise towards 136.74(Higher BB).On the downside, immediate support is seen at 133.44 (11DMA), a break below could take the pair towards 131.52(38.2%fib).
European stocks inched higher on Friday but were set for sharp weekly losses as a slew of interest rate hikes from major central banks fuelled worries about a sharp economic slowdown.
At (GMT 14:23 ),UK's benchmark FTSE 100 was last trading up at 0.54 percent, Germany's Dax was up by 0.68 percent, France’s CAC was up by 0.60percent.
Gold prices declined on Friday and was on pace to post a more than 1% fall for the week, dented by a stronger dollar and hawkish policy signals from global central banks even as recessionary fears loom.
Spot gold fell 0.4% to $1,849.50 per ounce by 0923 GMT. U.S. gold futures rose 0.3% to $1,854.40.
Oil rose on Friday, supported by supply tightness and new sanctions on Iran, but prices were on track for a weekly decline amid interest rate hikes from major central banks that fuelled worries about a sharp economic slowdown.
Brent crude was up $1.13, or 0.9%, to $120.94 a barrel at 1016 GMT, and U.S. West Texas Intermediate (WTI) crude had gained $1.03, or 0.9%, to $118.62.