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 falls after data showed the UK economy contracted in June, European shares rise, Gold edges lower, Oil prices set for weekly climb, but cloudy outlook caps gains-August 12th,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
Europe Roundup: Euro gains ahead of key U.S. inflation data, European shares dips, Gold flat, Oil drops on Druzhba pipeline news and U.S. inflation expectations-August 10th,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 falls ahead of Fed meeting,Wall Street closes on mixed note,Gold dips, Oil rises as Russian gas cut to Europe may encourage switching to crude-July 26th,2022
Europe Roundup: Sterling edges higher, rate hike outlook remains in focus , European shares edge lower, Gold consolidates, Oil slips amid chance of Iran nuclear deal supply boost-August 9th,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: 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
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 slides as mixed U.S. data highlights uncertain path , Wall Street ends higher, Gold gains, Oil up over $2 per barrel as hopes fade for OPEC+ supply boost-July 30th,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
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 edges higher as traders await U.S. inflation report, Wall ends lower, Gold ticks up, Oil settles lower as halted Russian pipeline flows appear temporary, demand fears rise-August 10th,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
America’s Roundup:U.S. dollar index gains, Wall Street indexes close up, Gold gains, Oil prices sheds 2% a barrel-August 13th,2022
Europe Roundup: Sterling slides ahead of Bank of England rate call, European stocks slip, Gold steadies, Oil prices fall after U.S. rate hike, but tight supply still in focus-June 16th,2022
•UK Car May Registration (YoY) -20.6%,15.8% previous
•UK May Car Registration (MoM) 4.4%,-51.1% previous
•French May Car Registration (YoY) -10.1%, -22.6% previous
•French May Car Registration (MoM) -16.6%,-26.1% previous
•Swiss SNB Interest Rate Decision (Q2) -0.25%,-0.75%, -0.75% previous
•Italian May CPI (MoM) 0.8%,0.9% forecasts,-0.1% previous
• EU Wages in euro zone (YoY) (Q1) 2.70%, 1.50% previous
Looking Ahead Economic Data(GMT)
•10:45 UK Jun BoE Interest Rate Decision 1.25% forecast,1.00% previous
•12:30 US Jun Philly Fed Business Conditions 2.5 previous
•12:30US Initial Jobless Claims 215K forecast,229K previous
•12:30 US Continuing Jobless Claims1,302K forecast,1,306K previous
•12:30 US Jobless Claims 4-Week Avg 215.00K previous
•12:30 Canada Apr Wholesale Sales (MoM) 0.2% forecast,0.3% previous
•12:30 US Jun Philly Fed Employment 25.5 previous
•12:30 US May Building Permits (MoM) -3.0% previous
•12:30 US Jun Philadelphia Fed Manufacturing Index 5.5 forecast, 2.6 previous
•12:30 US May Housing Starts 1.701M forecast, 1.724M
•12:30 US May Building Permits 1.785M forecast, 1.823M previous
•12:30 US Housing Starts (MoM) -0.2% previous
•15:30 US 8-Week Bill Auction 1.150% previous
•15:30 US 4-Week Bill Auction 1.040% previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
EUR/USD: The euro declined against dollar on Thursday after a surprise interest rate hike from Swiss National Bank (SNB) fuelled fresh worries about the impact of inflation on the global economy. Euro already under pressure after the U.S. Federal Reserve's big interest rate hike on Wednesday, fell further after the SNB's unexpected rate hike.Traders will be closely watching several speakers from the European Central Bank after the ECB promised to control borrowing costs for the currency’s bloc’s periphery after an emergency meeting on Wednesday. Immediate resistance can be seen at 1.0499(38.2%fib),an upside break can trigger rise towards 1.0587(50%fib).On the downside, immediate support is seen at 1.0395(23.6%fib), a break below could take the pair towards 1.0361(Lower BB).
GBP/USD: Sterling slid towards its lowest level this year ahead of an expected Bank of England (BoE) interest rate hike on Thursday as concerns about Britain’s economic prospects weighed.The central bank is expected to raise interest rates by at least 25 basis points, with swaps markets implying chances are higher of an at least 50 basis points increase as the BoE tries to combat soaring inflation. Sterling has weakened around 11% against a robust dollar since the start of the year amid the grim outlook for the economy and political instability in Britain. The pound fell 0.88% against the dollar to $1.2070, near its lowest this year of $1.19340 reached on Tuesday. Immediate resistance can be seen at 1.2206(38.2%fib),an upside break can trigger rise towards 1.2319 (50%fib).On the downside, immediate support is seen at 1.2059(23.6%fib), a break below could take the pair towards 1.9909(Lower BB).
USD/CHF: The dollar declined sharply against the Swiss franc on Thursday after the Swiss National Bank raised its policy interest rate for the first time in 15 years . The SNB joined other central banks in tightening monetary policy to fight surging inflation, increasing its policy rate to -0.25% from the -0.75% level it has deployed since 2015. The move followed a 75 basis point (bps) rate hike by the U.S. Federal Reserve on Wednesday. It was the SNB's first rate hike since September 2007. The Swiss franc surged to a two-month high against the euro, and was 1.8% higher at 1.0194 as of 0905 GMT. Against the U.S. dollar , the franc rose 1.35% to 0.9807.Immediate resistance can be seen at 0.9891 (38.2%fib), an upside break can trigger rise towards 0.9993(Daily high).On the downside, immediate support is seen at 0.9764 (50%fib), a break below could take the pair towards 0.9632(61.8%fib).
USD/JPY: The dollar dipped against Japanese yen on Thursday after the Federal Reserve delivered its biggest rate hike in decades but then tempered its outlook by telling investors that such sharp moves higher were unlikely to become a habit. Markets had expected the 75 basis point hike and priced in several more after a surprisingly hot inflation reading last week. The dollar had scaled new heights as U.S. yields rose, but it lurched lower after Chair Jerome Powell’s press conference. The yen last traded at 131.15 per dollar after finding a 24-year low of 135.60 on Wednesday. Strong resistance can be seen at 135.89 (23.6%fib), an upside break can trigger rise towards 136.51(Higher BB).On the downside, immediate support is seen at 133.18 (10DMA), a break below could take the pair towards 131.83(38.2%fib).
European stocks slipped on Thursday after the U.S. Federal Reserve's decision to raise interest rates aggressively fuelled concerns about a potential recession at a time when global economies are facing sky-high inflation.
At (GMT 10:50 ),UK's benchmark FTSE 100 was last trading down at 2.46 percent, Germany's Dax was down by 2.87 percent, France’s CAC was down by 2.30 percent.
Gold prices steadied on Thursday, buoyed by another dip in the dollar as investors assessed the implications of policy tightening by central banks to fight inflation.
Spot gold was little changed at $1,831.80 per ounce by 0937 GMT. U.S. gold futures rose 0.6% to $1,830.60.
Oil prices erased early gains to head lower on Thursday, a day after a fall triggered by a U.S. interest rate hike, though tight supply limited losses.
Brent crude futures were down 45 cents, or 0.4%, to $118.06 a barrel by 0906 GMT while U.S. West Texas Intermediate (WTI) crude futures fell 44 cents to $114.87, also off 0.4%.