Europe Roundup: Euro falls after weaker German export data, European shares fall,Gold gains, Oil falls on uncertainties surrounding OPEC+ cuts-December 4th,2023
Europe Roundup: Sterling falls versus dollar, focus on economic data, BoE,European shares fall, Gold falls, Oil prices at 2-1/2 month lows as China data offset supply cuts-November 7th,2023
America’s Roundup: Dollar gains on retail sales data, Wall Street gains, Gold steadies, Oil prices dive on big US crude stock build, record output-November 16th,2023
America’s Roundup: Dollar gains after Federal Reserve officials sound caution, Wall Street ends mixed, Gold slips, Oil prices decrease by more than 2% as OPEC+ production cuts fall short of expectations-December 1st,2023
America’s Roundup: Dollar steady despite weaker than expected jobs data, Wall Street ends mixed, Gold slips, Oil prices drop to nearly a five-month low on doubts regarding OPEC+ production cuts
Europe Roundup: Sterling steady after UK wage data; U.S. inflation in focus, European shares near one-month high, Gold flat, Oil climbs as IEA lifts demand growth forecast-November 14th,2023
Europe Roundup: Sterling dips as UK economy fails to grow in Q3, European shares ease, Gold retreats, Oil set for third weekly decline as demand worries weigh-November 10th,2023
Europe Roundup: Sterling drops, timing of BoE rate cuts in focus, European shares slip, Gold dips, Oil sputters near three-month lows as demand concerns mount-November 8th,2023
America’s Roundup: Dollar dips against euro, gains on yen as Fed policy stays in focus ,Wall Street ends higher, Gold retreats ,Oil prices settle up as Iraq backs more output cuts from OPEC+-November 11th,2023
Europe Roundup: Sterling eases after cooler British inflation data, European stocks jump, Gold hits one-week high, Oil dips on prospect of peak US production, despite strong demand signals-November 15th ,2023
America’s Roundup: Dollar edges lower ahead of inflation data, Wall Street ends mixed, Gold gains, Oil settles up 1% as OPEC report dampens demand concerns-November 14th,2023
Europe Roundup: Pound weakens after UK retail sales unexpectedly falla in October,European shares gain,Gold hits two-week high ,Oil prices gains 2% as Iraq backs more output cuts from OPEC+-November 17th,2023
America’s Roundup: Dollar steady as U.S. jobless claims boost Fed rate cut bets, Wall Street ends mixed, Gold climbs, Oil prices slump to 4-month low on U.S., Chinese economic concerns-November 17th,2023
Europe Roundup: Sterling firms against dollar, European shares climb ,Gold steady, Oil wavers on weak demand outlook in US and China, Fed hedging-November 13th,2023
Europe Roundup: Sterling dips against dollar, European shares falter, Gold prices tick higher, Oil prices slip on US crude build and China demand worries-November 16th,2023
Europe Roundup: Sterling ticks down as focus remains on US data, European shares gains, Gold eases, Oil gains ahead of OPEC+ meeting as Black Sea shutdowns support-November 29th,2023
Europe Roundup:Euro rallies on prospect of bigger ECB rate hikes, European shares gains,Gold prices steady, Oil prices fall on economic slowdown warnings-July 19th,2022
•UK May Employment Change 3M/3M (MoM) 296K, 170K forecast, 177K previous
•Swiss Jun Trade Balance 3.803B, 3.116B previous
•UK May Average Earnings Index +Bonus 6.2%, 6.7% forecast, 6.8% previous
•UK Unemployment Rate 3.8%,3.9% forecast, 3.8% previous
•UK Jun Claimant Count Change -20.0K, -41.2K forecast,-19.7K previous
•EU Jun CPI (MoM) 0.8%, 0.8% forecast, 0.8% previous
•EU Jun CPI (YoY) 8.6%, 8.6% forecast, 8.1% previous
•EU Jun Core CPI (YoY) 3.7%, 3.7% forecast, 3.8% previous
•US Jun Building Permits 1.685M, 1.650M forecast, 1.695M previous
•US Jun Housing Starts (MoM) -2.0%, -14.4% previous
• US Jun Housing Starts 1.559M,1.580M forecast,1.549M previous
• US Jun Building Permits (MoM) -0.6%, -7.0% previous
•US Redbook (YoY) 14.6%,13.0% previous
Looking Ahead - Economic Data (GMT)
•20:30 US API Weekly Crude Oil Stock 0.333M forecast ,4.762M previouis
Looking Ahead - Economic events and other releases (GMT)
•16:00 UK BoE Gov Bailey Speaks
•18:35 US FOMC Member Brainard Speaks
EUR/USD: The euro rose against the U.S. dollar on Tuesday on news that the European Central Bank would discuss this week whether to raise rates faster than expected. The euro jumped 1.1% to $1.08149, on course for its best day since May, after Reuters reported that ECB policymakers are considering raising interest rates by a bigger-than-expected 50 basis points at their meeting on Thursday. The euro, which last week fell below parity against the dollar for the first time in two decades, was trading 1% higher at $1.0256 . Immediate resistance can be seen at 1.0253 (38.2% fib), an upside break can trigger rise towards 1.0296(21DMA).On the downside, immediate support is seen at 1.0130(23.6%fib), a break below could take the pair towards 1.0070 (18th July low).
GBP/USD: The British pound rose against a broadly struggling dollar on Tuesday as latest economic data suggested the cost-of-living squeeze had not yet hit demand for staff in the UK. Data showed Britain’s unemployment rate holding at 3.8% in the three months to May while the number of people in work rose by the most since the middle of 2021.Sterling was up half a percent at $1.20120 against the dollar. Immediate resistance can be seen at 1.2056(38.2% fib), an upside break can trigger rise towards 1.2131(30DMA).On the downside, immediate support is seen at 1.1950 (50% fib), a break below could take the pair towards 1.1856 (61.8% fib).
USD/CHF: The dollar declined against the Swiss franc on Tuesday as a flight to safety waned on easing bets around the U.S. Federal Reserve's aggressive rate tightening campaign. Markets are expecting a large 75 basis point interest rate hike at the U.S. Federal Reserve’s meeting next week, away from a flirtation with the chance of an enormous 100 basis point rise. The dollar index, which gauges the unit against six counterparts, was down 0.9% at 106.52, on course for its biggest daily loss in a month and well back from the high of 109.29 last week, a level not seen since September 2002. Immediate resistance can be seen at 0.9717(30DMA), an upside break can trigger rise towards 0.9777(38.2%fib).On the downside, immediate support is seen at 0.9656(50%fib), a break below could take the pair towards 0.9525(61.8%fib).
USD/JPY: The dollar dipped against the Japanese yen on Tuesday as investors awaited more cues from top central banks on their monetary policy plans. Market participants are now anticipating a 75-basis-point hike by the Fed at its July 26-27 meeting. The European Central Bank and the Bank of Japan both are meeting on Thursday, with the ECB widely expected to deliver a 25-basis-point hike. Markets are expecting a large 75 basis point interest rate hike at the U.S. Federal Reserve's meeting next week, away from a flirtation with the chance of an enormous 100 basis point rise. Strong resistance can be seen at 139.29 (23.6% fib), an upside break can trigger rise towards 140.00(Psychological level).On the downside, immediate support is seen at 137.27 (11DMA), a break below could take the pair towards 135.80 (38.2% fib).
European stocks were mostly higher in choppy trade on Tuesday despite reports of a spending slowdown at tech giant Apple and a mixed earnings update from IBM.
At (GMT 14:46 ),UK's benchmark FTSE 100 was last trading up at 1.12% percent, Germany's Dax was up by 2.54% percent, France’s CAC was up by 1.79%percent.
Gold steadied on Tuesday as a weakening dollar made it cheaper for overseas buyers, while investors awaited more cues from top central banks on their monetary policy plans.
Spot gold was little changed at $1,709.59 per ounce by 1301 GMT, after hitting a session high of $1,718.19 earlier. U.S. gold futures fell 0.2% to $1,707.20.
Oil prices fell 2% on Tuesday after soaring by more than $5 barrel in the previous session, weighed by fears that an economic slowdown will hit oil demand, though tight supply and a weaker dollar curbed some losses.
Brent crude futures for September settlement were down $1.64, or 1.5%, at $104.63 a barrel by 1328 GMT. The contract rose 5.1% on Monday, the biggest percentage gain since April 12.
WTI crude futures for August delivery fell by $1.63, or 1.6%, to $100.97 a barrel. The contract climbed 5.1% on Monday, the largest percentage gain since May 11.
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