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
America’s Roundup: Dollar heads for eighth straight weekly gain, Wall Street ends higher, Gold firms, Oil prices rise to 9-month high-September 9th,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 rebounds as US inflation test nears , Wall Street ends lower, Gold slips , Oil jumps 2% to near 10-month high-September 13th,2023
Europe Roundup: Euro edges higher as dollar slips ahead of US inflation data, European shares hit 1-week high, Gold gains, Oil prices ease from 10-month high –September 11th,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 falls on mixed labour report ,European shares muted ,Gold slips to over two-week low, Oil prices spike on tight supplies-September 12th,2023
America’s Roundup: Dollar eases from 10-month high ,Wall Street ends higher, Gold slides, Oil eases 1%, reversing rally, on profit taking, interest rate worries-September 29th ,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
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 index climbs to 10-month high, Wall Street ends mixed, Gold extends slide, Oil climbs 3% as steep US crude stocks draw adds to supply concerns-September 28th,2023
Europe Roundup: Sterling eases as weak GDP data fuels recession fears, European shares falls, Gold steadies, Oil rises as supply cuts offset inflation concerns-September 13th,2023
Europe Roundup: Sterling hits fresh multi-month lows on dollar, European shares falls, Gold eases, Oil prices steady as Russia eases fuel export ban-September 25th,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 eases after Fed-spurred rise , US stocks ends lower, Gold slides, Oil settles lower as Russia fuel export ban boosts, rate hikes weigh-September 22nd,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 rises for sixth straight session,European shares rally, Gold rises, Oil prices rise ahead of OPEC+ meeting to discuss supply cuts-October 4th,2022
•Spanish Unemployment Change 17.7K, 62.1K previous
•EU Aug PPI (MoM) 5.0%, 4.9% forecast ,4.0% previous
•EU Aug PPI (YoY) 43.3%, 43.1% forecast , 37.9 previous
Looking Ahead - Economic Data (GMT)
•13:00 US Redbook (YoY) 11.0% previous
•14:00 US Aug Factory orders ex transportation (MoM) -1.1% previous
•14:00 US Aug Durables Excluding Defense (MoM) -0.9% previous
•14:00 US Aug JOLTs Job Openings 10.775M forecast , 11.239M previous
•14:00 US Aug Durables Excluding Transport (MoM) 0.2% previous
•15:00 New Zealand GlobalDairyTrade Price Index 2.0%
Looking Ahead - Events, Other Releases (GMT)
•17:00 US FOMC Member Daly Speaks
•13:00 US FOMC Member Williams Speaks
•13:15 US FOMC Member Mester Speaks
•15:00 EU ECB President Lagarde Speaks
EUR/USD: The euro strengthened on Tuesday as dollar dipped a slowdown in U.S. manufacturing activity raised hopes that the Fed might be less aggressive going forward. U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in September as new orders contracted amid aggressive interest rate increases from the Federal Reserve to cool demand and tame inflation.The Institute for Supply Management (ISM) survey on Monday also showed a measure of manufacturing employment contracted last month for the fourth time this year. A gauge of inflation at the factory gate decelerated for a sixth straight month. The euro was last up 0.67% at $0.9891, a moderate recovery from its 20-year low of $0.9528 on Sept. 26.Immediate resistance can be seen at 0.9913(38.2%fib), an upside break can trigger rise towards 1.1036(50%fib).On the downside, immediate support is seen at 0.9808 (5DMA), a break below could take the pair towards 0.9771(23.6%fib).
GBP/USD: The pound rose for the sixth consecutive session on Tuesday as investors welcomed the British government’s U-turn on some tax cuts and the U.S. dollar slipped . The pound had already rebounded from its record low after the Bank of England (BoE) intervened in the bond market last week following a dramatic plunge in long-dated gilts. It has now regained all the ground it lost in the wake of Kwarteng’s so-called mini budget.Sterling was last up 0.1% to $1.1331, after touching a session high of $1.1428. The euro was up 0.28% against the pound at 87.03 pence.Sterling dropped to a record low of $1.0327 on Sep. 26 after new Finance Minister Kwasi Kwarteng unveiled plans to slash taxes, particularly for the rich, and ramp up borrowing. Immediate resistance can be seen at 1.1453(50%fib), an upside break can trigger rise towards 1.1665 (61.8%fib).On the downside, immediate support is seen at 1.1230 (38.2%fib), a break below could take the pair towards 1.1177(5DMA).
USD/CHF: The dollar declined against the Swiss franc on Tuesday as investors expected the Federal Reserve to tone down its pace of monetary tightening after slowdown in U.S. manufacturing activity. Data showed manufacturing activity increased at its slowest pace in nearly 2-1/2 years in September as new orders contracted, likely as rising interest rates to tame inflation cooled demand for goods. The Institute for Supply Management said its manufacturing PMI dropped to 50.9 this month, missing estimates but still above 50, indicating growth.Focus now shifts to U.S. non-farm payrolls data due on Friday that could offer more clarity on Fed policy tightening. Immediate resistance can be seen at 0.9964 (23.6% fib), an upside break can trigger rise towards 0.9972(Higher BB).On the downside, immediate support is seen at 0.9855 (38.2% fib), a break below could take the pair towards 0.9933 (5DMA).
USD/JPY: The dollar was little changed against the Japanese yen on Tuesday after briefly popping above that level on Monday for the first time since Japanese authorities intervened to support their currency on Sept. 22.Japanese finance minister Shunichi Suzuki repeated on Monday that authorities stand ready for decisive" steps in the foreign exchange market if sharp and one-sided yen moves persisted. Investors are now directing their focus towards U.S. non-farm payrolls data due later this week and key inflationdata next week .Strong resistance can be seen at 144.91 (23.6%fib), an upside break can trigger rise towards 145.40(Higher BB). On the downside, immediate support is seen at 144.19 (9DMA), a break below could take the pair towards 143.55(38.2%fib).
European shares rose sharply on Tuesday in a broad-based rally, led by chipmakers, travel and leisure companies, and some strong corporate updates, with investors eyeing producer price data due later in the day., which could indicate the trajectory of rate hikes by the nation's central bank. .
At (GMT 12:00 ),UK's benchmark FTSE 100 was last trading up at 2.03 percent, Germany's Dax was up by 2.85 percent, France’s CAC finished was up by 3.37percent.
Gold extended gains on Tuesday to firm above the key $1,700 per ounce level on a retreat in the dollar and U.S. Treasury yields as investors expected the Federal Reserve to tone down its pace of monetary tightening.
Spot gold was up 0.3% at $1,703.79 per ounce as of 1149 GMT, having touched its highest since Sept. 13 at $1,710.49 earlier in the session.
Oil prices rose on Tuesday on expectations that OPEC+ may agree to a large cut in crude output in its meeting this week, while strong demand and upcoming sanctions on Russian oil also lent some support to prices.
Brent crude was up 79 cents, or 0.9%, to $89.65 per barrel by 1054 GMT after gaining more than 4% the previous day.
U.S. crude futures rose 60 cents, or 0.7%, to $84.23 a barrel, having gained more than 5% the previous day.
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