America’s Roundup: Dollar scales fresh two-decade peak, Wall Street ends lower, Gold hovers near 2-1/2-year low, Oil prices slide $2/bbl, settle at 9-month lows-September 27th,2022
America’s Roundup: Dollar gains ahead of Fed rate decision,Wall Street falls, Gold retreats, Oil prices down, investors expect big Fed rate hike-September 21st,2022
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
America’s Roundup: Dollar flat, sterling rises after week of turmoil, Wall Street ends lower, Gold rise to a one-week high, Oil falls but notches weekly gain as OPEC+ considers output cut-October 1st,2022
America’s Roundup: Dollar declines against yen as Japan intervenes to stop yen slide, Wall Street ends down, Oil edges higher on Russian supply concerns in volatile trade-September 23rd,2022
America’s Roundup: Dollar retreats from recent high, Wall Street ends down sharply, Gold little changed, Oil settles lower after hitting $90/bbl as OPEC+ considers output cut-September 30th,2022
Europe Roundup: Sterling helped by tax cut U-turn, Gold firms, Oil jumps more than $3 as OPEC+ weighs biggest output cut since 2020-October 3rd,2022
Europe Roundup: Sterling falls to 37-year low against dollar, European stocks fall, Gold dips, Oil steadies but remains on track for weekly decline-September 16th,2022
Europe Roundup: Sterling plunges near 35-year low against the dollar, European stocks bounce, Gold dips to near 2-month low, Oil falls over 1% on demand concerns, strong dollar-September 15th,2022
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
America’s Roundup: Dollar inches up vs yen as investors expect Fed will stay aggressive, U.S. stocks slip ,Gold falls, Oil slumps over 3% on demand concerns-September 16th,2022
America’s Roundup: Dollar reaches new two-decade high, Wall Street ends lower, Gold drops to 2-1/2-year lows, Oil plunges to eight-month low on strong dollar, recession fears-September 24th,2022
Europe Roundup: Sterling languishes near 37-year low vs dollar European shares falls, Gold dips, Oil falls more than 2% on demand fears-September 19th,2022
Europe Roundup: Sterling crumbles to all-time low, European shares falls, Gold pinned near 2-1/2-year low, Oil prices hit nine-month low on recession fears-September 26th,2022
Europe Roundup: Sterling gains against the dollar, European shares dips, Gold ticks up, Oil prices stabilise on IEA demand outlook-September 14th,2022
America’s Roundup: U.S. dollar advances as markets brace for hefty Fed rate hike,Wall Street ends choppy session higher, Gold falls, Oil edges up as supply woes outweigh demand and rate hike worries-September 20th,2022
Europe Roundup: Sterling slips as BoE delivers big rate hike but warns of long recession,European shares gains, Gold gains over 1%, Oil prices stabilize after drop to near 6-month low-August 4th,2022
•German Jun Factory Orders (MoM) -0.4%, -0.8%forecast, 0.1% previous
•German Jul IHS S&P Global Construction PMI 43.7 forecast, 45.9 previous
•UK Jul Construction PMI 48.9,52.0 forecast, 52.6 previous
•UK Aug BoE MPC vote unchanged 0, 0 forecast, 0 previous
•UK Aug BoE MPC vote cut 0,0 forecast,0 previous
•UK Aug BoE Interest Rate Decision 1.75%, 1.75% forecast,1.25% previous
•UK Aug BoE MPC vote hike9,9 forecast,9 previous
•UK Jul Challenger Job Cuts 25.810K, 32.517K previous
Looking Ahead - Economic Data (GMT)
• 12:30 US Imports 341.40B previous
•12:30 US Exports 255.90B previous
•12:30 US Continuing Jobless Claims 1,370K forecast, 1,359K previous
•12:30 US Initial Jobless Claims 259K forecast, 256K previous
•12:30 US Jobless Claims 4-Week Avg. 249.25K previous
•12:30 Canada Jun Building Permits (MoM) -1.5% forecast, 2.3% previous
•12:30 US Jun Trade Balance -80.10B forecast, -85.60B previous
•12:30 US Jun Imports 63.11B previous
•12:30 US Jun Trade Balance 4.80B forecast, 5.32B previous
•15:30 US 8-Week Bill Auction 2.210% previous
• 15:30 US 4-Week Bill Auction 2.140% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro edged lower on Thursday after the Bank of England (BoE) raised rates by 50 basis points, with investors assessing whether the euro zone market is fairly pricing the European Central Bank’s (ECB) future rate hike path. Hawkish comments from U.S. Federal Reserve officials returned investors’ attention to further monetary tightening on Wednesday, boosting euro, but recession fears are capping a potential further rise. The 50-basis-point increase from the BoE had been expected by most economists in a poll as central banks around the world scramble to contain the surge in prices. Immediate resistance can be seen at 1.0252(38.2%fib), an upside break can trigger rise towards 1.0292(Higher BB).On the downside, immediate support is seen at 1.0157(21DMA), a break below could take the pair towards 1.0095(23.6%fib).
GBP/USD: Sterling fell on Thursday after the Bank of England followed its counterparts in the United States and euro zone with a hefty hike in interest rates to quell inflation, saying Britain faces a lengthy recession. As widely expected, the BoE increased rates by 50 basis points to 1.75%, its sixth increase since December but the biggest since 1995.he UK economy would begin to shrink in the final quarter of 2022 and contract throughout next year, making it the longest recession since after the global financial crisis, the central bank said. Sterling was down 0.2% at $1.2071 after being slightly firmer ahead of the BoE announcement.Immediate resistance can be seen at 1.2190(38.2%fib), an upside break can trigger rise towards 1.2258(Higher BB).On the downside, immediate support is seen at 1.2066(23.6%fib),a break below could take the pair towards 1.2023(21DMA).
USD/CHF: The dollar edged lower against the Swiss franc on Thursday as the positive impact of hawkish Federal Reserve comments faded and investors waited for more signs on the data front to confirm that more large rate hikes to curb inflation were coming. Fed officials have continued to push back against the perception that U.S. interest rates were close to peaking. San Francisco Fed President Mary Daly and Minneapolis Fed President Neel Kashkari voiced their determination overnight to rein in high inflation. But the impact of the hawkish rhetoric on the dollar appeared to be fading, with the currency in a more defensive mood as the London session wore on. Immediate resistance can be seen at 0.9655(23.6%fib), an upside break can trigger rise towards 0.9670(21DMA).On the downside, immediate support is seen at 0.9567(38.2%fib), a break below could take the pair towards 0.9492 (50%fib).
USD/JPY: The dollar dipped against yen on Thursday ahead of a key U.S. jobs report that could influence the Federal Reserve’s policy stance. The dollar hovered near its highest this week after Federal Reserve officials continued to stress that policy tightening is far from over. However, Treasury yields remained down from two-week highs as investors stayed sidelined ahead of employment data this week that will guide the path of interest rates.Against Japan’s currency, which is extremely sensitive to U.S. yields, the buck retreated 0.24% to 133.62 yen, after reaching 134.55 overnight.. Strong resistance can be seen at 134.41 (23.6%fib), an upside break can trigger rise towards 135.00(Psychological level).On the downside, immediate support is seen at 132.88 (38.2%fib), a break below could take the pair towards 131.99 (Lower BB).
European shares edged up on Thursday following strong results from a slew of companies, with focus squarely on Britain's central bank that is expected to lift interest rates by the most since 1995.
At (GMT 12:23 ),UK's benchmark FTSE 100 was last trading up at 0.56% percent, Germany's Dax was up by 0.97 % percent, France’s CAC was up by 0.72%percent.
Gold prices jumped more than 1% on Thursday as a pullback in the dollar and U.S. Treasury yields provided support ahead of a key U.S. jobs report that could influence the Federal Reserve’s policy stance.
Spot gold was up 1% at $1,781.83 per ounce by 1128 GMT, While U.S. gold futures rose 1.2% to $1,798.20.
Oil prices were broadly steady on Thursday as the market weighed tight supply against demand fears, after a build in U.S. crude and gasoline stocks sent prices to multi-month lows in the previous session.
Brent crude futures inched up 36 cents, or 0.37% to $97.14 a barrel by 0925 GMT, while West Texas Intermediate (WTI) crude futures were up 43 cents, a 0.47% gain, at $91.09.
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