Europe Roundup: Euro edges higher against dollar, European shares falls, Gold stalls, Oil falls on economic worries, easing supply fears-December 7th,2022
America’s Roundup: Dollar weakens versus euro,Wall Street ends higher, Gold firms, Oil falls on weakening demand, shrugs off Keystone closure-December 9th,2022
America’s Roundup: Dollar gains broadly as U.S. data sparks rate hike fears ,Wall Street slides, Gold retreats , Oil falls over 3%-December 6th,2022
Europe Roundup: Sterling climbs as dollar rally wanes ,European shares gain, Gold advances, Oil rises as Saudi comments outweigh recession concerns-November 22nd,2022
Europe Roundup: Sterling edges lower as boost from new China COVID rules fades, European shares gains, Gold retreats, Oil prices rise after OPEC+ keeps output steady-December 5th,2022
Europe Roundup: Sterling edges higher against dollar, European shares dip, Gold steadies, Oil prices fall on higher U.S. dollar, economic fears-December 6th,2022
Europe Roundup: Sterling holds near 3-month high against weaker dollar ,European shares gain, Gold firms, Oil drops as Russian price cap proposal eases concerns about tight supply-November 24th,2022
America’s Roundup: Dollar slides after Powell speech, Wall Street ends sharply higher, Gold rises, Oil settles up $2 on tighter supply-December 1st,2022
America’s Roundup: Dollar extends losses as Fed minutes signal slower rate hikes,Gold gains, Oil muted as price cap proposal eases supply concerns-November 25th,2022
America’s Roundup: Dollar rebounds on Fed expectations, Wall Street ends down sharply, Gold slips, U.S. crude turns positive, Brent pares losses on OPEC+ cut rumors-November 29th,2022
Market Roundup: Sterling set for third straight weekly gain,European shares mixed, Gold subdued, Oil prices rise, but Chinese demand worries linger
America’s Roundup: Dollar pullsback on hopes of slower rate hikes, Wall Street ends lower,Gold gains,Oil up on China COVID hopes-November 30th,2022
Europe Roundup: Sterling gains after better-than-expected retail sales data , European shares bounce, Gold ticks up, Oil slides on China demand concerns, easing supply worries-November 18th,2022
America’s Roundup: U.S. dollar falls as Fed signals slowdown in rate hikes, Wall Street rises, Oil slides over 3% on Russian price cap talks-November 24th ,2022
America’s Roundup: Dollar rises as China COVID worries spook markets,Wall Street slips, Gold dips, Oil rebounds from early plunge after Saudis deny OPEC+ output report-November 22nd,2022
Europe Roundup: Euro gains against dollar ahead of Powell speech, European shares rise,Gold gains, Oil firm on U.S. crude stocks and China optimism-November 30th,2022
America’s Roundup: Dollar rises after unexpected rise in U.S. consumer prices, Wall Street tumbles, Gold dips, Oil dips nearly 1%, reversing earlier gains-September 14th,2022
•US Consumer price index rises 0.1% in August
•US Core CPI surges 0.6%; increases 6.3% year-on-year
•Oil prices lose ground, Treasury yields rise
•US indexes slide: Dow 3.94%, S&P 4.32%, Nasdaq 5.16%
•US Aug CPI Index, s.a 295.62, 295.27 previous
•US Aug Real Earnings (MoM) -0.1%, 0.5% previous
•US Aug CPI Index, n.s.a 296.17, 295.53 forecast, 296.28 previous
•US Aug Core CPI (MoM) 0.6%, 0.3% forecast, 0.3% previous
•US Aug Core CPI (YoY) 6.3%, 6.1% forecast, 5.9% previous
•US Aug CPI (YoY) 8.3%, 8.1% forecast, 8.5% previous
•US Aug CPI (MoM) 0.1%, -0.1% forecast, 0.0% previous
•US Redbook (YoY) 11.4%,10.9% previous
•US IBD/TIPP Economic Optimism 44.7, 38.1 previous
•US Aug Cleveland CPI (MoM) 0.7%, 0.5% previous
•US Aug Federal Budget Balance -220.0B, -213.5B forecast, -211.0B previous
Looking Ahead - Economic Data (GMT)
•23:50 Japan Jul Core Machinery Orders (YoY) 6.6% forecast, 6.5% previous
•23:50 Japan Jul Core Machinery Orders (MoM) -0.8% forecast, 0.9% previous
•04:30 Japan Jul Industrial Production (MoM) 1.0% forecast, 1.0% previous
•04:30 Japan Jul Capacity Utilization (MoM) 9.6% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
EUR/USD: The euro declined sharply against dollar on Tuesday after stronger-than-expected U.S. inflation data boosted investor bets that the Federal Reserve will need to stay aggressive in raising interest rates. U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday. The consumer price index edged up 0.1% last month after being unchanged in July. The euro was last down 1.5% versus the greenback at $0.9973, after hitting a nearly one-month high of $1.0198 in the previous session. Immediate resistance can be seen at 0.9997(5DMA), an upside break can trigger rise towards 1.0035( (38.2%fib).On the downside, immediate support is seen at 0.9956(23.6%fib), a break below could take the pair towards 0.9883 (Lower BB).
GBP/USD: Sterling declined on Tuesday as dollar climbed after data showed U.S. consumer prices rising faster than expected in August, prompting bets for more aggressive Federal Reserve rate hikes. Monthly U.S consumer prices unexpectedly rose in August as declining gasoline prices were offset by gains in the costs of rent and food. The consumer price index gained 0.1% last month after being unchanged in July, while the 12 months through August the CPI increased 8.3%. Economists polled had forecast the monthly CPI dipping 0.1% and year-over-year rising 8.1%. Sterling was last trading at $1.1517, down 1.39% on the day. Immediate resistance can be seen at 1.1546(5DMA), an upside break can trigger rise towards 1.1592(38.2%fib).On the downside, immediate support is seen at 1.1458 (23.6%fib),a break below could take the pair towards 1.1377(Lower BB).
USD/CAD: The Canadian dollar on Tuesday posted its biggest decline in more than two months against the greenback as U.S. inflation data bolstered bets that the Federal Reserve would continue to raise interest rates aggressively. U.S. dollar jumped against a basket of major currencies after hotter-than-expected U.S. consumer price data dashed hopes that the Fed could relent and scale back its policy tightening in the near future. The price of oil, one of Canada's major exports, reversed earlier gains, with U.S. crude futures settling down 0.5% at $87.31 a barrel. The Canadian dollar was trading 1.2% lower at 1.3145 to the greenback, its biggest decline since July 5. Immediate resistance can be seen at 1.3177(23.6%fib), an upside break can trigger rise towards 1.3218(Higher BB).On the downside, immediate support is seen at 1.3111 (11DMA), a break below could take the pair towards 1.3093(38.2%fib).
USD/JPY: The dollar rose higher against the yen on Tuesday after data showed U.S. consumer prices rose faster than expected in August, prompting bets for more aggressive Federal Reserve rate hikes. U.S. headline inflation came in at 8.3% in August, rising more than expected, and underlying inflation picked up amid rising costs for rents and healthcare, giving the Fed ammunition to deliver a third 75 basis points interest rate hike next Wednesday. The dollar index rose 1.534% in its biggest one-day percentage gain since March 19, 2020.The Japanese yen weakened 1.17% versus the safe-haven greenback at 144.52 per dollar. Strong resistance can be seen at 145.19(23.6%fib), an upside break can trigger rise towards 146.00(Psychological level).On the downside, immediate support is seen at 143.77(5DMA), a break below could take the pair towards 142.80(5DMA).
European shares tripped 1.6% on Tuesday, retreating from two-week highs hit earlier in the session, as hotter than expected U.S. inflation data cemented bets for another large interest rate hike by the Federal Reserve.
UK's benchmark FTSE 100 closed down by 1.17 percent, Germany's Dax ended down by 1.59 percent, France’s CAC finished the day down by 1.39 percent.
A broad sell-off sent U.S. stocks reeling on Tuesday after a hotter-than-expected inflation report dashed hopes that the Federal Reserve could relent and scale back its policy tightening in the coming months.
Dow Jones closed down by 3.94% percent, S&P 500 closed down by 4.32% percent, Nasdaq settled down by 5.16% percent.
U.S. Treasury yields surged and a closely watched inversion of the yield curve widened on Tuesday after monthly U.S consumer prices unexpectedly rose in August, signaling to the market that the Federal Reserve will crack down further on inflation.
Benchmark 10-year notes last fell 18/32 in price to yield 3.4293%, from 3.362% late on Friday. The 30-year bond last fell 1/32 in price to yield 3.5139%, from 3.513%. The 2-year note last fell 12/32 in price to yield 3.7643%, from 3.571%.
Gold prices fell more than 1% as the dollar jumped after an unexpected rise in August consumer prices cemented bets for aggressive rate hikes from the U.S. Federal Reserve.
Spot gold prices fell 1.1% to $1,705.94 per ounce by 11:04 a.m. ET (1504 GMT).U.S. gold futures fell 1.3% to $1,717.30.
Oil prices ended nearly 1% lower on Tuesday, reversing earlier gains as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week.
Brent crude for November delivery settled 83 cents lower at $93.17 a barrel with a 0.9% loss, after trading between $95.53 and $91.05. U.S. October crude futures closed down 47 cents, or 0.5%, at $87.31, after touching a high of $89.31 and low of $85.06.