Europe Roundup: Sterling recovers against dollar, European stocks ease, Gold slips, Oil rises but remains rangebound as COVID-19 cases soar-April 12th,2021
America’s Roundup: Dollar hits over 1-week trough, Wall Street ends higher, Gold inches lower, Oil down 5% as rising OPEC+, Iranian output weighs-April 6th,2021
Europe Roundup: Euro gains versus weaker dollar, European shares rises, Gold gains, Oil rises , sets out for weekly gains on demand hopes-16th April ,2021
America’s Roundup: Dollar drops to three-week lows after inflation data,Wall Street ends mixed, Gold gains, Oil rises 1% after robust China data but J&J vaccine pause weighs-April 14th,2021
Europe Roundup: Sterling hits one-week low vs dollar, European stocks pause near record high, Gold falls, Oil prices slip despite stronger economic outlook-April 7th,2021
Europe Roundup: Euro weakens after German investor morale falls in April, European shares pause near record high, Gold slips to one-week low, Oil prices tick up after robust China data-April 13th 2021
America’s Roundup: Dollar at three-week lows as Treasury yields subdued, Wall Street ends mixed, Gold falls, Oil climbs nearly 5% on signs of increasing crude demand-April 15th,2021
Europe Roundup: Sterling steadies versus dollar after hard profit-taking knock, European shares gain, Gold hits 3-week peak, Oil falls on surge in U.S. gasoline stocks-April 8th,2021
America’s Roundup: Dollar rises as minutes shows Fed committed to supporting economic recovery, Gold edges lower, Oil up on global economic recovery, but high U.S. gasoline stocks weigh-April 8th,2021
Europe Roundup: Euro set for biggest monthly drop since mid-2019, European shares gain, Gold falls, Oil falls on hopes that Suez Canal blockage might end soon-March 29th ,2021
Europe Roundup: Euro dips as dollar, yields advance, European shares gain, Gold slides more than 1%, Oil falls as Suez opens, focus turns to OPEC+ output cuts-March 30th,2021
America’s Roundup: Dollar index jumps to four-month peak, Wall Street dips, Gold slides 2%,Oil falls as Suez Canal reopens, dollar rallies; eyes on OPEC+ meeting-March 31st,2021
Europe Roundup: Pound gains versus dollar,driven by UK outperformance on vaccine rollout, Gold eases, Oil drops below $64 as rising OPEC+, Iranian output weighs-April 5th,2021
America’s Roundup: Dollar drops as traders prepare for inflation data, Wall Street ends mixed, Gold slips, Oil rises on U.S. vaccine rollout, Middle East tension-April 13th,2021
Europe Roundup: Euro edges lower after mixed economic data from Germany, European shares flat,Gold slips from one-month high, Oil prices dip on mixed supply and demand outlook-April 9th,2021
America’s Roundup: Dollar buoyant as economic outlook brightens, Wall Street rallies, Gold prices eases, Oil jumps 4% on fears Suez Canal blockage may last weeks-March 27th,2021
Europe Roundup: Sterling steadies ahead of UK budget, European stocks rally, Gold slips, Oil up as OPEC+ considers rollover rather than raising output-March 3rd,2021
• Swiss Feb CPI (MoM) ) 0.2%, 0.4% forecast, 0.1% previous
• Swiss Feb CPI (YoY) -0.5%,-0.3% forecast, -0.5% previous
•French Jan Government Budget Balance -21.9B, -178.1B previous
•Italian Feb Composite PMI 51.4, 49.1 forecast, 47.2 previous
•French Feb Services PMI 45.6, 43.6 forecast, 47.3 previous
•German Feb Services PMI 45.7 , 45.9 forecast, 46.7 previous
•German Feb Composite PMI 51.1, 51.3 forecast, 50.8 previous
•EU Feb Services PMI 45.7, 44.7 forecast, 45.4 previous
•EU Feb Markit Composite PMI 48.8, 48.1 forecast, 47.8 previous
•UK Feb Composite PMI 49.6, 49.8 forecast, 41.2 previous
•UK Feb Services PMI 49.5, 49.7 forecast, 39.5 previous
•EU Jan PPI (YoY) 0.0%, -0.4% forecast, -1.1% previous
Looking Ahead - Economic data (GMT)
•13:15 Canada Feb ADP Nonfarm Employment Change 177K forecast, 174K previous
•13:30 US Jan Building Permits (MoM) 3.5% forecast,-4.1% previous
•13:30 US Feb Services PMI 58.9 forecast, 58.3 previous
•14:45 US Feb Markit Composite PMI 58.8 forecast, 58.7 previous
•15:00 US Feb ISM Non-Manufacturing Employment 55.2 previous
•15:00 US ISM Non-Manufacturing New Orders 61.8 previous
•15:00 US Feb ISM Non-Manufacturing Prices 64.2 previous
•15:00 US ISM Non-Manufacturing PMI 58.7 forecast, 58.7 previous
•15:30 US Crude Oil Inventories -0.928M,1.285M previous
Looking Ahead - Economic events and other releases (GMT)
•18:00 US Chicago Fed President Evans Speaks
•17:00 US FOMC Member Bostic Speaks
EUR/USD: The euro declined against dollar on Wednesday as market participants focused on comments from European Central Bank policymakers. European Central Bank policymaker Fabio Panetta said that the ECB should “not hesitate” to increase the volume of its bond-buying to rein in yields.Striking a dovish tone, Panetta argued that the risk of providing too little policy support far outweighed the risk of doing too much. Market participants are waiting for further hints from ECB policymakers who are due to speak today, before the quiet period, in which they will avoid making comments that could influence expectations before its monetary policy meeting on March 11. Immediate resistance can be seen at 1.2110(50%fib), an upside break can trigger rise towards 1.2184(61.8%fib).On the downside, immediate support is seen at 1.2029 (Lower BB), a break below could take the pair towards 1.1989(2nd March low).
GBP/USD: Sterling steadied against the dollar on Wednesday and gained against the euro before the announcement of what is expected to be an expansive budget designed to prop up the economy as Britain prepares for a reopening from lockdowns. Sterling is the best performing G10 currency this year, up about 2% versus the dollar as investors bet the speed of Britain’s vaccination programme will enable a faster reopening of its economy. The pound was 0.1% higher at $1.39760 by 1230 GMT, after falling to its lowest in 2-1/2 weeks on Tuesday. It was 0.2% higher against the euro at 86.41 pence. Immediate resistance can be seen at 1.4000(Psychological level), an upside break can trigger rise towards 1.4042 (23.6%fib).On the downside, immediate support is seen at 1.3915 (38.2%fib), a break below could take the pair towards 1.3810(50%fib).
USD/CHF: The dollar strengthened against the Swiss franc on Wednesday as a retreat in U.S. Treasury yields fuelled demand for riskier assets. The yield on 10-year Treasury notes stood at 1.41%, down from last week’s one-year high of 1.61%, before a slew of U.S. economic data set for release later this week. Bond yields rise when prices fall.Surging yields across the world, fuelled by moves in Treasuries, have buffeted financial markets in recent weeks. Investors were betting a strong U.S. economic rebound amid ultra-loose monetary conditions would fuel inflation. Immediate resistance can be seen at 0.9197 (23.6%fib), an upside break can trigger rise towards 0.9243(Sep 30th high 2020).On the downside, immediate support is seen at 0.9134(38.2%fib), a break below could take the pair towards 0.9100 (Psychological level).
USD/JPY: The dollar strengthened against the Japanese yen on Wednesday as a retreat in U.S. Treasury yields fuelled demand for riskier assets. The yield on 10-year Treasury notes stood at 1.41%, down from last week’s one-year high of 1.61%, before a slew of U.S. economic data set for release later this week. Bond yields rise when their prices fall. Surging yields across the world, fuelled by moves in Treasuries, have buffeted financial markets in recent weeks. Investors were betting a strong U.S. economic rebound amid ultra-loose monetary conditions would fuel inflation. Still, optimism that more imminent U.S. stimulus will energise the global economic recovery. Immediate resistance can be seen at 107.06 (38.2%fib), an upside break can trigger rise towards 107.54 (23.6%fib).On the downside, immediate support is seen at 106.52 (5DMA), a break below could take the pair towards 106.29 (61.8%fib).
European stocks rose for a third straight session on Wednesday on hopes of a rebound in economic growth as Germany looked set to relax its coronavirus curbs, while investors awaited details on UK’s new budget.
At (GMT 12:40 ),UK's benchmark FTSE 100 was last trading up at 73 percent, Germany's Dax was up by 0.71 percent, France’s CAC finished was up by 0.51 percent.
Gold prices slipped on Wednesday, falling for a sixth session in seven, as expectations that U.S. Treasury yields would move higher on further economic stimulus kept non-yielding bullion under pressure.
Spot gold eased 0.2% to $1,734.26 per ounce by 0743 GMT, having dropped to its lowest since June 15 at $1,706.70 on Tuesday. U.S. gold futures dipped 0.1% to $1,731.70.
Oil prices rose on Wednesday, boosted by expectations that OPEC+ producers might decide against increasing output when they meet this week, while signs of progress in the coronavirus vaccine rollout in the United States gave further support.
Brent oil was up $1.28, or 2%, to $63.98 a barrel by 1050 GMT. U.S. West Texas Intermediate (WTI) crude rose $1.17, or 2%, to $60.92 a barrel.