Europe Roundup:Euro gains as focus turns to cenbank meetings, European shares inch up , Gold at two-week high, Oil prices rise on supply deficit concerns-September 19th,2023
America’s Roundup: Dollar weakness as focus shifts to Fed meet next week ,Wall Street tumbles, Gold rises 1%, Oil prices hit 10-month high, gain 4% on weekly basis-September 16th,2023
Europe Roundup: Sterling drops to lowest since March after BoE holds rates, European shares slide, Gold falls, Oil falls as US rate hike expectations offset tight supply outlook-September 21st,2023
Europe Roundup: Sterling holds above three-month lows vs dollar, European shares edge higher, Gold steady, Oil hits 2023 highs on tight supply outlook-September 14th,2023
Europe Roundup: Sterling stays at three-month low , European stocks stabilise ,Gold firms, Oil ticks higher as tight supply trumps macroeconomic gloom-September 8th,2023
America’s Roundup: Dollar hit an 11-month high against the Japanese yen, Wall Street gains, Gold subdued, Oil prices settle near flat in choppy trade-September 26th,2023
Europe Roundup: Sterling falls on mixed labour report ,European shares muted ,Gold slips to over two-week low, Oil prices spike on tight supplies-September 12th,2023
Europe Roundup: Sterling rises after UK growth data, European shares rise, Gold edge up, Oil set for 2% weekly gain on China holiday demand, tight US supply-September 29th,2023
America’s Roundup: Dollar gains as Fed skips rate hike but holds hawkish stance, Wall Street closes lower, Gold trims gains, Oil prices ease 1%-September 21st,2023
America’s Roundup: Dollar advances despite soft PMI flash data ,Wall Street ends lower,Gold edges higher ,Brent, WTI oil settle mixed above $90 a barrel- September 23rd,2023
Europe Roundup : Euro edges higher against dollar,European shares slide, Gold slips, Oil prices fall as economic outlook outweighs tight supply-September 26th,2023
America’s Roundup: Dollar climbs on strong US data, Wall Street rallies, Gold hold near 3-week low , Oil rises to highest in 2023 on tight supply expectations-September 15th,2023
Europe Roundup: Sterling snaps 6-day decline but still on track for big monthly drop , European shares slip, Gold holds near 6-month low, Oil edged lower-September 28th,2023
America’s Roundup: Dollar slips ahead of US inflation data, Wall Street advances, Gold firms, Oil prices settle mostly flat ahead of monthly oil forecasts-September 12th,2023
Europe Roundup : Sterling falls on cooling UK inflation, European shares rise, Gold little changed, Oil falls ahead of Fed rate decision-September 20th,2023
America’s Roundup: Dollar dip after inflation data, Wall Street ends mixed, Gold extended decline,Oil settles lower but ends quarter up 28% on tight global supply-September 30th,2023
Europe Roundup: Sterling recovers as BoE, Treasury seek to calm markets , European shares bounce, Gold firms, Oil rises from 9-month low on U.S. Gulf supply cuts-September 27th,2022
•EU Aug Loans to Non Financial Corporations 8.7%, 7.7% previous
•EU Aug M3 Money Supply (YoY) 6.1%, 5.4% forecast, 5.5% previous
•EU Private Sector Loans (YoY) 4.5%, 4.5% previous
•France Jobseekers Total 2,966.0K, 2,967.0K previous
Looking Ahead - Economic Data (GMT)
•12:30 US Aug Durables Excluding Defense (MoM) 1.1% previous
•12:30 US Aug Durable Goods Orders (MoM) -0.4% forecast, -0.1% previous
•12:30 US Aug Core Durable Goods Orders (MoM) 0.2% forecast, 0.2% previous
• 12:30 US Aug Goods Orders Non Defense Ex Air (MoM) 0.2% forecast, 0.3% previous
•12:55 US Redbook (YoY) 10.5% previous
•13:00 US Jul S&P/CS HPI Composite - 20 n.s.a. (YoY) 17.0% forecast, 18.6% previous
•13:00 US Jul S&P/CS HPI Composite - 20 n.s.a. (MoM) 0.4% previous
•13:00 US Jul S&P/CS HPI Composite - 20 s.a. (MoM) 0.2% forecast, 0.4% previous
•13:00 US Jul House Price Index (YoY) 16.2% previous
•14:00 US Sep Richmond Services Index -12 previous
•14:00 US Aug New Home Sales 500K forecast, 511K previous
•14:00 US Sep Richmond Manufacturing Index -8 previous
•14:00 US Sep CB Consumer Confidence 104.5 forecast, 103.2 previous
•14:00 US Sep Richmond Manufacturing Shipments -8 previous
•14:00 US Sep Aug New Home Sales (MoM) -12.6% previous
Looking Ahead - Events, Other Releases (GMT)
•13:00 EU ECB's De Guindos Speaks
•13:35 UK BoE MPC Member Pill Speaks
• 13:55 US FOMC Member Bullard Speaks
EUR/USD: The euro edged higher on Tuesday as the dollar paused for breath after recent surge. Markets remain nervous, however, after U.S. Federal Reserve officials on Monday said their priority remained controlling domestic inflation. Markets are pricing in a 76% probability of a further 75 basis point move at the next Federal Reserve meeting in November.Central bank speakers on Tuesday include Fed chair Jerome Powell and ECB president Christine Lagarde. The European single currency was up 0.24% on the day at $0.9629 after hitting a 20-year low a day ago. Immediate resistance can be seen at 0.97168(38.2%fib), an upside break can trigger rise towards 0.9803(5DMA).On the downside, immediate support is seen at 0.9600(Psychological level), a break below could take the pair towards 0.9555(23.6%fib).
GBP/USD: The British pound was higher against the dollar on Tuesday, a day after hitting a record low, as the Bank of England and UK Treasury attempted to soothe market concerns after the government announced a raft of unfunded tax cuts. The battered pound hit an all-time low of $1.0327 on Monday, prompting calls for a big inter-meeting interest rate hike from the Bank of England, and although the bank and government acknowledged the turmoil in markets, they stopped short of any concrete action. By 0836 GMT on Tuesday, the pound was up 1.2% against the dollar at $1.0817. It’s still down around 20% versus the greenback this year. Immediate resistance can be seen at 1.0858(Daily high), an upside break can trigger rise towards 1.0944(38.2%fib).On the downside, immediate support is seen at 1.0664(23.6%fib),a break below could take the pair towards 1.0600(Psychological level).
USD/CHF: The dollar dipped against the Swiss franc on Tuesday as the safe-haven U.S. dollar weakened as dollar bullls ran out of steam. The dollar fell after scaling a two-decade peak on Monday amid tightening monetary policy in the United States. As central banks across the globe hike interest rates aggressively to bring down persistently high inflation, the economic growth outlook has weakened. The dollar index eased 0.13% to 113.72, after touching 114.58 on Monday, its strongest since May 2002. At 11:17 GMT, the dollar was 0.60 percent lower versus the Swiss franc at 0.9871 .Immediate resistance can be seen at 0.9718 (38.2% fib), an upside break can trigger rise towards 0.9845(50% fib).On the downside, immediate support is seen at 0.9561(23.6% fib), a break below could take the pair towards 0.9500(psychological level).
USD/JPY: The dollar edged lower against yen on Tuesday as the U.S. dollar retreated from its 20-year peak on profit taking.The dollar index fell 0.2% slipping off a two-decade peak scaled in the previous session. The benchmark 10-year Treasury yield was also off a 12-year peak marked on Monday.U.S. central bank officials on Monday sloughed off rising volatility in global markets and said their priority remained controlling inflation. Japanese yen has failed to benefit from the recent rout in the equities market as U.S. rate hikes have dented appeal for yen. Strong resistance can be seen at 143.35(23.6%fib), an upside break can trigger rise towards 146.14(Higher BB).On the downside, immediate support is seen at 143.62(5DMA), a break below could take the pair towards 142.65(38.2%fib).
European stocks rebounded on Tuesday, as the dollar paused for breath and U.K. ten-year gilt yields slipped back after their recent surges.
At (GMT 11:30 ),UK's benchmark FTSE 100 was last trading down at 0.02 percent, Germany's Dax was up by 0.56 percent, France’s CAC was up by 0.64 percent.
Gold bounced off a 2-1/2-year low on Tuesday as a slight pullback in the dollar and U.S. Treasury yields helped tide over some pressure from prospects of more aggressive U.S. rate hikes.
Spot gold was up 0.7% at $1,632.83 per ounce as of 0939 GMT, after falling to its lowest since April 2020 at $1,620.20 in the previous session.U.S. gold futures rose 0.4% to $1,640.50
Oil rose more than 1% on Tuesday from a nine-month low a day earlier, supported by supply curbs in the U.S. Gulf of Mexico ahead of Hurricane Ian and a slight softening in the U.S. dollar.
Brent crude rose $1.26, or 1.5%, to $85.32 a barrel by 1120 GMT. On Monday it fell as low as $83.65, the lowest since January. U.S. West Texas Intermediate (WTI) crude was up $1.06, or 1.4%, at $77.77.
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