Europe Roundup: Sterling holds near three-week high ahead of U.S. jobs data,European stocks slip, Gold firms, Oil rises on demand outlook, Gulf outages-September 3rd,2021
Europe Roundup: Sterling dips as traders assess inflation impact, European shares gain,Gold dips, Oil holds above $75 as U.S. inventory drop supports-September 16th,2021
America’s Roundup: Dollar brushes aside jobs report losses, Gold eases, Oil falls after Saudi price cuts-September 7th,2021
Europe Roundup: Euro dips as safety flows extend dollar rally ahead of Fed, European shares slide,Gold little changed, Oil falls below $75 on risk-averse mood, U.S. Gulf output-September 20th,2021
America’s Roundup: U.S. dollar strengthens against rivals as Fed's taper talk gathers pace, Wall Street ends mixed, Gold gains, Oil rises to six-week high as U.S. supply concerns dominate-September 14th,2021
Europe Roundup: Sterling dips for second day against dollar,European stocks slip, Gold slips, Oil mixed, fears of slower demand weigh on sentiment-September 7th,2021
Europe Roundup; Sterling steadies near 5-week highs against dollar, European shares dips,Gold little changed, Oil hits 6-week high as U.S. Gulf braces for another hurricane-September 14th,2021
Europe Roundup: Sterling slips ahead of vote on new UK tax, European stocks fall, Gold edge higher, Oil climbs on slow U.S. supply return after Hurricane Ida-September 8th,2021
Europe Roundup:Euro inches higher in run-up to ECB verdict, European shares dips,Gold rises, Oil prices firm as U.S. output struggles after storm-September 9th,2021
Europe Roundup: Sterling edges up after UK inflation jump, European stocks slip, Gold eases, Oil prices climb after drawdown in U.S. stocks-September 15th,2021
America’s Roundup: Dollar gains as U.S. yields rise before ECB meeting, Wall Street falls, Gold retreats, Oil slides on demand concerns-September 8th,2021
Europe Roundup: Sterling steadies against dollar, European stocks gain, Gold little changed, Oil price climbs before OPEC+ policy meeting-September 1st,2021
Europe Roundup: Sterling on the back foot amid UK recovery worries, Gold edges up, Oil at one-week high as U.S. supply concerns dominate-September 13th,2021
America’s Roundup: Dollar eases ahead US payrolls data, Wall Street ends higher, Gold eases,Oil rises on economic recovery hopes, weaker dollar-September 3rd,2021
America’s Roundup: Dollar little changed as US jobs data report looms ,Wall Street ends lower ,Gold rises, Oil settles down 1% as U.S. refineries shut; Washington pushes OPEC to pump more-September 1st,2021
Europe Roundup: Sterling dips against dollar after retail sales data, European shares dips, Gold recoups some losses, Oil holds above $75 as storm-hit U.S. supply returns slowly-September 17th,2021
Europe Roundup: Sterling ticks higher after UK sets out reopening plans , European shares slip, Oil soars to multi-year highs after OPEC+ talks collapse-July 6th,2021
•German May Factory Orders (MoM) -3.7%, 1.0% forecast, -0.2% previous
•Spanish May Industrial Production (YoY) 26.0%, 22.1% forecast, 48.2% previous
•German Jun IHS Markit Construction PMI 47.0, 44.5 previous
•UK Housing Equity Withdrawal (QoQ) 4.0B,-7.0B previous
•UK Jun Construction PMI 66.3,63.8 forecast, 64.2 previous
•EU May Retail Sales (MoM) 4.6%, 4.4%forecast,-3.1% previous
•EU May Retail Sales (YoY) 9.0%,8.2% forecast, 23.9% previous
•German Jul ZEW Current Conditions 21.9,5.0 forecast, -9.1 previous
•German Jul ZEW Economic Sentiment 63.3,75.2 forecast, 79.8 previous
•EU July ZEW Economic Sentiment 61.2, 81.3 previous
Looking Ahead - Economic Data (GMT)
•12:55 US Redbook (YoY) 18.2% previous
•13:45 US June Markit Composite PMI 64.8 previous
•14:00 US June ISM Non-Manufacturing Business Activity 66.3 forecast, 66.2 previous
•14:00 US June CB Employment Trends Index 107.40 previous
•14:00 US June ISM Non-Manufacturing PMI 63.5 forecast, 64.0 previous
•14:00 US June ISM Non-Manufacturing Prices 80.6 previous
•14:00 US June ISM Non-Manufacturing Employment 55.3 previous
•14:00 US Jun ISM Non-Manufacturing New Orders 63.9 previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro declined against dollar on Tuesday caution about the economic impact of the Delta variant of COVID-19 as well as expectations that the European Central Bank will remain dovish bought down euro. The single currency also weakened on unexpected drop in German industrial orders. Data showed orders for German-made goods posted their sharpest slump in May since the first lockdown in 2020, hurt by weaker demand from countries outside the euro zone. Immediate resistance can be seen at 1.1865 (5DMA), an upside break can trigger rise towards 1.1923 (38.2%fib).On the downside, immediate support is seen at 1.1829 (23.6%fib), a break below could take the pair towards 1.1743(Lower BB).
GBP/USD: Sterling nudged higher against dollar on Tuesday after Britain set plans to end COVID-19 restrictions in a fortnight. British Prime Minister Boris Johnson set out plans on Monday to end social and economic COVID-19 restrictions in England in two weeks’ time, a test of whether a rapid vaccine rollout offers enough protection from the highly contagious Delta variant. Johnson confirmed the government aimed to end restrictive measures on July 19, with a final decision to be taken next week. Sterling reached $1.3798 against the dollar in early deals in London, its highest since June 28. Immediate resistance can be seen at 1.3891 (5DMA), an upside break can trigger rise towards 1.3936(20DMA).On the downside, immediate support is seen at 1.3810 (23.6%fib), a break below could take the pair towards 1.3734 (2nd June low).
USD/CHF: The dollar steadied against the Swiss franc on Tuesday as investors wait on the minutes from the Federal Reserve's meeting in June. Focus this week is on minutes from the Fed’s latest meeting due out on Wednesday, after a hawkish tilt from the U.S. central bank last month in which policymakers projected a start to rate hikes in 2023. At ( GMT 11:40),greenback edged higher 0.08% versus the Swiss franc to 0.9226.Immediate resistance can be seen at 0.9226 (23.6%fib), an upside break can trigger rise towards 0.9245(Daily high).On the downside, immediate support is seen at 0.9210 (9DMA), a break below could take the pair towards 0.9193 (38.2%fib).
USD/JPY: The dollar dipped against the Japanese yen on Tuesday as the dollar drifted lower on easing pressure for U.S. rate hikes in the wake of mixed jobs data. The dollar fell, extending losses since U.S. labour market data last week that was upbeat but not so strong as to risk bringing forward the day when the Federal Reserve might start tapering its asset buying. Focus this week is on minutes from the Fed's latest meeting due out on Wednesday, after a hawkish tilt from the U.S. central bank last month in which policymakers projected a start to rate hikes in 2023. Strong resistance can be seen at 110.92(23.6%fib), an upside break can trigger rise towards 111.20(July 5th high).On the downside, immediate support is seen at 110.49(38.2%fib), a break below could take the pair towards 110.14 (50%fib).
European stocks slipped on Tuesday after three sessions of gains as gloomy trading in Asia and an unexpected drop in German industrial orders offset a jump in commodity stocks.
At (GMT 11:30),UK's benchmark FTSE 100 was last trading lower at 0.22 percent, Germany's Dax was down by 0.36 percent, France’s CAC was trading down by 0.32 percent.
Gold rose above the $1,800/ounce psychological level on Tuesday to hit a three-week high, as a pullback in the dollar lifted bullion demand, while investors awaited minutes from the U.S. Federal Reserve’s June meeting for clarity on monetary policy.
Spot gold climbed 0.7% to $1,804.50 per ounce by 0652 GMT, after touching its highest level since June 17.U.S. gold futures jumped 1.3% to $1,806.30 per ounce.
Oil prices surged to multi-year highs on Tuesday including U.S. crude hitting its highest since 2014 after OPEC+ producers fell out over plans to raise supply in the face of rising global demand.
Brent crude climbed 62 cents, or 0.8%, to $77.78 a barrel by 0748 GMT, a level not seen since October 2018.
U.S. West Texas Intermediate (WTI) crude futures traded up $1.75, or 2.3%, at $76.91, their highest since November 2014.