America’s Roundup: Dollar pullsback on hopes of slower rate hikes, Wall Street ends lower,Gold gains,Oil up on China COVID hopes-November 30th,2022
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 dips as geopolitical tensions rattle markets , Wall Street gains, Gold near three-month high, Oil prices settle higher on Druzhba oil pipeline disruption-November 16th,2022
America’s Roundup: Dollar drops to near four-month low,Wall Street ends mixed, Gold rises, Oil settles little changed after China eases COVID curbs-December 2nd,2022
Europe Roundup: Sterling ticks up as UK inflation hits 41-year high , European shares fall, Gold firms, Oil prices up after incident involving vessel off Oman coast-November 16th,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
Europe Roundup: Sterling dips against dollar, European shares slip, Gold slips to over 1-week low, Oil prices ease to trade near 2-month lows-November 21th,2022
America’s Roundup: Dollar gives back gains as U.S. jobs data rattles investors, Wall Street ends mixed,Gold retreats, Oil dips 1.5% ahead of OPEC+ meeting, EU Russian oil ban-December 3rd,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: 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 gains broadly as U.S. data sparks rate hike fears ,Wall Street slides, Gold retreats , Oil falls over 3%-December 6th,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
Europe Roundup: Sterling surrenders gains ahead of Hunt's budget plan , European shares falls,Gold retreats, Oil falls on easing geopolitical tensions, China demand worries-November 17th,2022
Europe Roundup: Sterling holds near five-month peak, European shares slip ,Gold eases, Oil steady ahead of OPEC+ meeting-December 2nd,2022
America’s Roundup: Dollar steady as retail sales tip Fed outlook,Wall Street ends down,Gold hovers near multi-month peak, Oil falls-November 17th,2022
Europe Roundup: Sterling gains against softening dollar, European shares falls,Gold rebounds 1% ,Oil jumps on hopes for easing of China's COVID controls-November 29th,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
•UK Jul Construction Output (MoM) 0.27%, 1.30% previous
•German 12-Month Bubill Auction 1.585%,0.724% previous
Looking Ahead - Economic Data (GMT)
•12:30 Canada Aug IPPI (YoY) 11.9% previous
•12:30 Canada Aug RMPI (MoM) 3.2% forecast, -7.4% previous
•12:30 Canada Aug IPPI (MoM) 0.2% forecast,-2.1% previous
•12:30 Canada Aug RMPI (YoY) 19.1% previous
• 13:00 French 12-Month BTF Auction 1.450% previous
• 13:00 French 3-Month BTF Auction 0.648% previous
• 13:00 French 6-Month BTF Auction 0.747% previous
• 15:30 US 3-Month Bill Auction 3.075% previous
•15:30 US 6-Month Bill Auction 3.465% previous
Looking Ahead - Events, Other Releases (GMT)
•13:00 German Buba Vice President Buch Speaks
EUR/USD: The euro dipped against dollar on Monday as investors braced for the outcome of the Federal Reserve policy meeting later this week in a market which has already priced in more tightening, even through a recession. Chief economist Philip Lane said that the European Central Bank (ECB) could raise interest rates next year, causing pain for consumers as it tries to depress demand that is increasingly adding to sky-high inflation. The Fed is widely expected to raise rates by 75 basis points, but some traders are betting on a 100 basis points increase, according to CME Group’s FedWatch tool. Money markets see a 20% chance of a full-point hike. Immediate resistance can be seen at 1.0002(9DMA), an upside break can trigger rise towards 1.0094 (38.2%fib).On the downside, immediate support is seen at 0.9956 (23.6%fib), a break below could take the pair towards 0.9902(Lower BB).
GBP/USD: Sterling was weaker against a robust dollar on Monday, hovering near last week's 37-year low, with sentiment towards the British currency remaining weak given a darkening economic outlook. Currency trade was generally subdued with London markets closed for the Queen's funeral. While the Bank of England is expected to raise rates by at least 50 basis points (bps) this week, the prospect of further tightening has failed to shore up the pound. The Federal Reserve is also meeting this week and expectations for an even bigger hike of at least 75 bps has bolstered the dollar.The pound was last trading at $1.1381 , down about 0.5% on the day and within sight of the 37-year low hit on Friday at $1.1351. Immediate resistance can be seen at 1.1458(5DMA), an upside break can trigger rise towards 1.1501 (38.2%fib).On the downside, immediate support is seen at 1.1364 (23.6%fib), a break below could take the pair towards 1.1283 (Lower BB).
USD/CHF: The dollar strengthened against the Swiss franc on Monday ahead of a slew of central bank meetings that include one by the U.S. Federal Reserve that is likely to deliver another hefty rate hike. Markets have entertained the possibility of a 100 bps rate hike when the Fed concludes its two-day meeting on Wednesday. Markets fully price in a 75 basis point Fed rate hike this week and a roughly 20% chance of a 100 bps increase The dollar index , which measures the currency against six counterparts, was up 0.4% at 110.06, heading back towards a 20-year high of 110.79 hit on Sept. 7. Immediate resistance can be seen at 0.9696 (38.2%fib), an upside break can trigger rise towards 0.9776 (23.6%fib).On the downside, immediate support is seen at 0.9632 (50%fib), a break below could take the pair towards 0.9521(61.8%fib).
USD/JPY: The dollar strengthened against the Japanese yen on Monday as investors prepared for a packed week of central bank meetings which will see borrowing costs rise globally, with the chance of a super-sized hike in the United States. Markets are fully priced for a rise in interest rates of 75 basis points from the Federal Reserve, with futures showing a 20% chance of a full percentage point.They also indicate a real chance that rates could hit 4.5% as the Fed is forced to tip the economy into recession to subdue inflation. The dollar rose 0.34 to 143.45 yen on Monday , having backed away from the recent 24-year peak of 144.99 in the face of increasingly strident intervention warnings from Japanese policymakers. Strong resistance can be seen at 143.54 (5DMA), an upside break can trigger rise towards 144.77(23.6%fib).On the downside, immediate support is seen at 142.63 (Daily low), a break below could take the pair towards 142.01 (38.2%fib).
French shares dragged European markets lower on Monday after two major TV groups fell on abandoning their merger plans, in a dour start to a week that could see a large interest rate hike by the Federal Reserve and a host of other central bank meetings.
At (GMT 12:21),UK's benchmark FTSE 100 was last trading down at 0.62 %percent, Germany's Dax was down by 0.41 % percent, France’s CAC finished was down by 1.04% percent.
Gold prices slipped on Monday, pressured by a firmer dollar as investors braced for aggressive interest rate hikes by the U.S. Federal Reserve and other central banks this week in an effort to tame high inflation.
Spot gold was down 0.8% at $1,661.65 an ounce at 0724 GMT. U.S. gold futures fell 0.8% to $1,670.80.
Oil fell by more than 2% on Monday, pressured by expectations of weaker global demand and by U.S. dollar strength ahead of possible large increases to interest rates, though supply worries limited the decline.
Brent crude for November delivery fell $2.24, or 2.5%, to $89.11 a barrel by 1213 GMT. U.S. West Texas Intermediate (WTI) for October dropped $2.32, or 2.7%, to $82.79.