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 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: 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 falls on lower than expected US inflation data, Wall Street rallies, Gold edges lower, Oil rises on renewed gasoline demand, weak dollar-August 11th,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: Dollar eases as investors await inflation data for Fed clues, US stocks flat, Gold gains, Oil up nearly 2%, off multi-months low-August 9th,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
Europe Roundup: Euro notch up on US inflation data,European shares little changed, Gold subdued,Oil rises as IEA hikes 2022 demand growth forecast-August 11th,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: 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 gains after stronger-than-expected payrolls data , Wall Street ends mixed, Gold dips 1%, Oil prices end week on multi-month lows on recession fears, Oil prices end week on multi-month lows on recession fears-August 6th,2022
Europe Roundup: Sterling dips as economic outlook darkens rate view, European shares mixed in cautious trade,Gold steadies, Oil rises for a second day on supply tightness concerns-July 26th,2022
Europe Roundup: British pound falls against dollar on gloomy BoE outlook, European shares dips,Gold falls, Oil prices set to end week at multi-month lows on recession fears-August 5th,2022
Europe Roundup: Euro gains against dollar ahead of a U.S. Federal Reserve meeting, European shares gains, Gold steadies, Oil rises in volatile trade-July 25th, 2022
America’s Roundup: Dollar slides after U.S. manufacturing data ,Wall Street ends down, Gold hits near one-month high, Oil sinks about 4% -August 2nd,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 slips against dollar as traders weigh EU restrictions impact Gold dips, European shares skid to 3-week lows ,Oil slips on US plans to tap emergency crude reserves-November 23rd,2021
•French Nov Services PMI 58.2, 56.0 forecast, 56.6 previous
•French Nov Markit Composite PMI 56.3,53.6 forecast, 54.7 previous
•French Nov Manufacturing PMI 54.6,53.0 forecast, 53.6 previous
•German Nov Manufacturing PMI 57.6,56.9 forecast, 57.8 previous
•German Nov Composite PMI 52.8,51.0 forecast, 52.0 previous
•EU Nov Manufacturing PMI 58.6,57.3 forecast, 58.3 previous
•EU Nov Markit Composite PMI 55.8, 53.2 forecast, 54.2 previous
•UK Oct Services PMI 58.6,57.3 forecast, 59.1 previous
•UK Oct Composite PMI 57.7,57.6 forecast, 57.8 previous
Looking Ahead Economic Data (GMT)
•13:30 Canada Corporate Profits (QoQ) -0.4% previous
•13:55 US Redbook (MoM) -17.2% previous
•13:55 US Redbook (YoY) 14.7% previous
•14:55 US Nov Markit Composite PMI 57.6 previous
•14:55 US Manufacturing PMI 59.0 forecast, 58.4 previous
•14:55 US Nov Services PMI 59.0 forecast, 58.7 previous
•15:00 US Nov Richmond Services Index 9 previous
•15:00 US Nov Richmond Manufacturing Index 12 previous
Looking Ahead - Events, Other Releases (GMT)
•18:00 Canada BoC Deputy Governor Beaudry Speaks
•18:40 EU ECB's De Guindos Speaks
EUR/USD: The euro edged higher against dollar on Tuesday as better than expected Germany's PMI data supported euro. Growth in Germany's private sector accelerated slightly in November, but persistent supply bottlenecks in manufacturing continued to weigh on factory output and pushed up inflationary pressures to unprecedented highs, a survey showed on Tuesday. The euro was up 0.2% against the dollar at $1.1258, after hitting a 16-month low versus the dollar. The euro has lost 2.6% so far this month, hurt by a combination of the European Central Bank's dovish monetary policy stance and, more recently, a resurgence of COVID-19 cases in Europe. Immediate resistance can be seen at 1.1304(38.2%fib), an upside break can trigger rise towards 1.1363 (50%fib).On the downside, immediate support is seen at 1.1227 (23.6 % fib), a break below could take the pair towards 1.1200(Psychological level).
GBP/USD: The pound declined against the dollar on Tuesday traders weighed the prospect how COVID-19 resurgence in the euro zone will impact Britain. Fears of more restrictions in Germany, after Austria reimposed a full lockdown. Sterling also dipped as U.S. President Joe Biden nominated Federal Reserve Chair Jerome Powell for a second four-year term, reinforcing market expectations of rate rises next year. Sterling was not far from a 11-month low of $1.3354 touched earlier in November against the dollar. Immediate resistance can be seen at 1.3438(38.2%fib), an upside break can trigger rise towards 1.3520(50%fib).On the downside, immediate support is seen at 1.3361 (23.6%fib), a break below could take the pair towards 1.3300 (Psychological level).
USD/CHF: The dollar strengthened against the Swiss franc on Tuesday as bets on quicker-than-expected interest rate hikes increased after U.S. President Joe Biden nominated incumbent Federal Reserve Chairman Jerome Powell to a second term boosted dollar. Biden nominated Powell for a second four-year term on Monday over Lael Brainard, who was promoted to Fed vice-chair. Both Powell and Brainard’s roles will need to be confirmed by the Senate. Immediate resistance can be seen at 0.9328(23.6 % fib), an upside break can trigger rise towards 0.9357 (Higher BB).On the downside, immediate support is seen at 0.9294 (5DMA), a break below could take the pair towards 0.9282(38.2%fib ).
USD/JPY: The dollar strengthened against the Japanese yen on Tuesday after Federal Reserve Chair Jerome Powell was picked for a second term, reinforcing market expectations that U.S. interest rates will rise in 2022.Currency markets have been mostly driven in recent months by market perceptions of the different paces at which global central banks reduce pandemic era stimulus and raise rates. Versus Japan's yen, the dollar rose to its highest in four and a half years, as investors expected U.S. interest rates to diverge from those in Japan. Strong resistance can be seen at 114.89 (23.6% fib), an upside break can trigger rise towards 115.13 (Higher BB).On the downside, immediate support is seen at 114.38(38.2%fib), a break below could take the pair towards 113.97 (50% fib).
European stocks slumped to a three-week low on Tuesday and were set for their worst session in nearly two months as a risk-off mood deepened amid a resurgence in COVID-19 cases and rate hike concerns.
At (GMT 11:40 ),UK's benchmark FTSE 100 was last trading down at 0.03 percent, Germany's Dax was down by 0.79 percent, France’s CAC finished was down by 0.32 percent.
Gold eased below $1,800 on Tuesday as the dollar hit 16-month highs and Treasury yields firmed, with expectations that U.S. interest rates will rise next year shored up by the renomination of Federal Reserve Chairman Jerome Powell.
Spot gold was down 0.4% at $1,797.16 per ounce by 1022 GMT, while U.S. gold futures eased 0.5% to $1,797.70.
Oil prices fell on Tuesday, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of demand faltering as COVID-19 cases flare up in Europe.
U.S. West Texas Intermediate (WTI) crude futures fell 58 cents, or 0.8%, to $76.17 a barrel at 0423 GMT. Brent crude futures fell 42 cents, or 0.5%, to $79.28 a barrel.