Europe Roundup: Sterling steadies near June 2020 low, European shares gains, Gold recovers, Oil drops as economic worries, strong dollar weigh-May 10th,2022
America’s Roundup: Dollar regains footing after tumble, Wall Street tumbles, Gold retreats, Oil edges up on supply jitters as EU plans Russian oil ban-May 6TH, 2022
America’s Roundup: Dollar dips as Powell pushes back against 75 bp hike, Wall Street closes with sharp gains, Gold rises 1%, Oil jumps $5 a barrel as EU nears ban on Russian oil-May 5th,2022
Europe Roundup: Euro’s gains fades on bleak German industrial orders, European stocks rally, Gold rises 1%,Oil climbs on supply jitters as EU plans Russian oil ban-May 5th,2022
Europe Roundup: Euro dips after weak data, European shares dips, Gold slips toward 2-1/2-month lows ,Oil slips on China growth worries, EU weighs Russian crude ban-May 2nd,2022
Europe Roundup: Euro falls back towards 2017 lows on Russian energy crisis, European shares gain, Gold falls, Oil rises but set for weekly drop as fears of weaker demand limit gains-May 13th,2022
Europe Roundup: Sterling gains on upbeat retail sales data, European shares climb, Gold hits one-week high , Oil steady as oil supply risks meet economic headwinds-May 20th,2022
America’s Roundup: Dollar slips from 2-decade highs, Wall Street ends mixed, Gold ticks up, Oil settles higher on demand optimism, gasoline strength-May 17th,2022
Europe Roundup: Sterling falls to fresh lows against dollar, European shares slide, Gold slips 1%, Oil prices fall, weighed down by dollar, China lockdowns-May 9th,2022
America’s Roundup: Dollar higher in choppy trade as inflation data eyed, Wall Street ends mixed, Gold retreats, Oil settles below $100 a barrel on economic worries, strong dollar-May 11th,2022
America’s Roundup: Dollar index slips from 20-year high, Wall Street ends down, Gold gains, Oil gains 1.5%, posts another weekly rise on supply concerns-May 7th,2022
America’s Roundup: Dollar slips ahead of Fed's policy decision, Wall Street ends higher, Gold prices gain, Oil slides as China lockdowns outweigh proposed EU Russia oil ban-May 4th,2022
America’s Roundup: Dollar gains as inflation jitters return, Wall Street ends sharply lower, Gold erases losses, Oil falls 2.5% as U.S. refiners ramp up output-May 19th,2022
America’s Roundup: U.S. dollar hits 20-year high as risk aversion dominates, Wall Street ends down, Gold extends decline ,Oil tumbles about 6% as China COVID lockdowns weigh-May 10th,2022
Europe Roundup: Euro jumps on ECB rate rise talk, European shares dips, Gold prices firm, Oil rises as supply concerns persist-May 6th, 2022
Europe Roundup: Pound falls as UK inflation hits 40 year high, European shares inch lower , Gold gains, Oil prices rise on China demand recovery expectations, supply concerns-May 18th,2022
Europe Roundup: Sterling rises to almost 10-week high versus dollar,European stocks rises,Gold gains, Oil rises towards $82 as demand recovery seen on track-11th January,2022
•Spanish Nov Industrial Production (YoY) 4.8% ,0.6% forecast, -0.9% previous
• Italian Nov Retail Sales (YoY) 12.5%, 3.7% previous
• Italian Nov Retail Sales (MoM) -0.4%,0.6% forecast , 0.1% previous
Looking Ahead - Economic Data (GMT)
•13:55 US Redbook (YoY) 18.8% previous
•15:00 US IBD/TIPP Economic optimism 50.2 forecast , 48.4 previous
Looking Ahead - Economic events and other releases (GMT)
•14:00 US FOMC Member Mester Speaks
•14:00 US FOMC Member George Speaks
•15:00 US Fed Chair Powell Testifies
EUR/USD: The euro was little changed against dollar on Tuesday as traders looked to incumbent Fed Chair Jerome Powell's nomination hearing later in the day for new clues on the timing and pace of policy normalisation. In his prepared opening remarks, released Monday, Powell will pledge to prevent high inflation from becoming "entrenched," but will make no mention of plans for the path of monetary policy. U.S. December consumer inflation data is due to be released on Wednesday, with headline CPI seen coming in at a red-hot 7% on a year-on-year basis, boosting the case for an early increase in interest rates. The euro was about flat at $1.13331, stuck in the middle of its trading range since mid-November. Immediate resistance can be seen at 1.1334 (38.2%fib), an upside break can trigger rise towards 1.1370 (23.6%fib).On the downside, immediate support is seen at 1.1305 (38.2%fib), a break below could take the pair towards 1.279 (50% fib).
GBP/USD: Sterling rose against dollar on Tuesday as expectations that the Bank of England will raise interest rates further. The pound rose 0.26% versus the dollar to $1.3620, its highest since Nov. 4, when it slid 1.5% on the day after the BoE surprised the market by keeping interest rates unchanged. Over the past weeks, investors have ramped up expectations that the BoE will raise interest rates as early as next month after a surprise hike in December by 15 basis points, to 0.25%. Immediate resistance can be seen at 1.3599 (23.6%fib), an upside break can trigger rise towards 1.3658 (Higher BB).On the downside, immediate support is seen at 1.3555 (5DMA), a break below could take the pair towards 1.3531 (38.2 % fib).
USD/CHF: The dollar strengthened against the Swiss franc on Tuesday ahead of U.S. Federal Reserve Chair Jerome Powell's congressional hearing later in the day.Powell could give new clues about the timing and pace of policy normalisation by the U.S. central bank. Traders looked to incumbent Fed Chairman Jerome Powell's nomination hearing later in the day for new clues on the timing and pace of policy normalisation. Investors also awaited US CPI data.U.S. core CPI is expected to have risen by an annual 5.4% in December, up from 4.9% in the prior month, which could stress the need for earlier-than-anticipated rate hikes by the Fed. Immediate resistance can be seen at 0.9275 (23.6%fib), an upside break can trigger rise towards 0.9294 (15th Dec High).On the downside, immediate support is seen at 0.9241 (Daily low), a break below could take the pair towards 0.9221 (38.2%fib).
USD/JPY: The dollar strengthened against the Japanese yen on Tuesday as investors awaited Federal Reserve Chair Jerome Powell's appearance before the Senate Banking Committee, hoping for clues to the timing of expected policy tightening. Powell is seeking a second four-year term as head of the Fed, and his appearance before the committee will be followed by a hearing with vice chair nominee Lael Brainard on Thursday. The Fed in December flagged plans to tighten policy faster than expected in response, with a rate hike perhaps as soon as March. Strong resistance can be seen at 115.61 (38.2% fib), an upside break can trigger rise towards 116.23 (23.6% fib).On the downside, immediate support is seen at 115.19 (50%fib), a break below could take the pair towards 114.74 (61.8%fib).
European shares leaped on Tuesday as investors returned to tech stocks after a seven-day rout in the sector fuelled by concerns about rising rates, while a batch of upbeat earnings also aided the mood.
At (GMT 11:35 ),UK's benchmark FTSE 100 was last trading up at 0.60 percent, Germany's Dax was up by 1.04 percent, France’s CAC finished was up by 1.20 percent.
Gold prices rose on Tuesday, supported by a weaker U.S. dollar and Treasury yields, as traders awaited December inflation data and weighed bets for quicker interest rate hikes by the Federal Reserve.
Spot gold rose 0.4% to $1,809.22 per ounce by 0723 GMT. U.S. gold futures were up 0.6% to $1,808.80.
Oil rose towards $82 a barrel on Tuesday, supported by tight supply and hopes that rising coronavirus cases and the spread of the Omicron variant will not derail a global demand recovery.
Brent crude gained 88 cents, or 1.1%, to $81.75 a barrel at 0915 GMT, after dropping 1% in the previous session. U.S. West Texas Intermediate (WTI) rose 95 cents, or 1.2%, to $79.18, after falling 0.8% on Monday.