Europe Roundup: Euro’s gains fades on bleak German industrial orders, European stocks rally, Gold rises 1%,Oil climbs on supply jitters as EU plans Russian oil ban-May 5th,2022
America’s Roundup: Dollar dips as Powell pushes back against 75 bp hike, Wall Street closes with sharp gains, Gold rises 1%, Oil jumps $5 a barrel as EU nears ban on Russian oil-May 5th,2022
Europe Roundup: Euro slips lower, focus on inflation data , European stocks climb, Gold holds near 10-week low, Oil prices fluctuate in the face of supply and demand concerns-April 28th ,2022
America’s Roundup: Dollar slips ahead of Fed's policy decision, Wall Street ends higher, Gold prices gain, Oil slides as China lockdowns outweigh proposed EU Russia oil ban-May 4th,2022
America’s Roundup: Dollar dips to end trading week but set for weekly gain,Wall Street rallies, Gold falls, Oil jumps 4% as U.S. gasoline prices hit record high-May 14th,2022
Europe Roundup: Sterling pinned near 19-month lows, European stocks gain, Gold edges up ,Oil rebounds on China demand concerns in see-saw trading-April 26th,2022
America’s Roundup: U.S. dollar hits 20-year high as risk aversion dominates, Wall Street ends down, Gold extends decline ,Oil tumbles about 6% as China COVID lockdowns weigh-May 10th,2022
Europe Roundup: Euro set for 4.5% monthly drop, European shares gain, Gold firms, Oil extends gains as supply fears outweigh China lockdowns-April 29th,2022
Europe Roundup: Sterling steadies near 21-month low ahead of BoE, Fed, European shares falls,Gold steady, Oil jumps 4% as EU proposes ban on Russian oil-May 4th,2022
America’s Roundup: Dollar higher in choppy trade as inflation data eyed, Wall Street ends mixed, Gold retreats, Oil settles below $100 a barrel on economic worries, strong dollar-May 11th,2022
Europe Roundup: Sterling steadies near June 2020 low, European shares gains, Gold recovers, Oil drops as economic worries, strong dollar weigh-May 10th,2022
America’s Roundup: Dollar dips on the day, set for biggest 1-month gain since 2015, Wall Street closes sharply lower, Gold gains over 1%, Oil prices reverse late in session as heating oil contract plunges-April 30th,2022
America’s Roundup: Dollar slips after CPI data as Fed expectations in check, Wall Street ends sharply lower, Gold bounces, Oil up more than 5%, as Russia-EU energy quarrel intensifies-May 12th,2022
Europe Roundup: Euro holds near five-year low ahead of ECB's Lagarde speech, European shares gain, Gold falls to 2-1/2-month trough, Oil slips on China demand worries, while EU weighs Russia oil ban-May 3rd,2022
America’s Roundup: Dollar gains on China COVID fears, Fed rate hike expectation, Wall Street ends higher, Gold slips over 1%, Oil slumps 4% as Shanghai lockdowns stoke demand fears-April 26th,2022
Europe Roundup: Euro gains as dollar dips ahead of U.S. inflation data, European shares gain, Gold recovers, Oil rises on looming EU Russian oil ban, gas disruption-May 11th,2022
America’s Roundup: Dollar rises as markets brace for larger, faster rate hikes, Wall Street closes lower, Gold slides ,Oil dips from seven-year high as Russia tensions offset Fed tightening-January 28th,2022
•US Dec Core Durable Goods Orders (MoM) 0.4%,0.4% forecast, 0.8% previous
•US Dec Durable Goods Orders (MoM) -0.9%,-0.5% forecast, 2.5% previous
•US Initial Jobless Claims 260K, 260K forecast, previous 286K previous
•US Jobless Claims 4-Week Avg 247.00K,231.00K previous
•US Continuing Jobless Claims 1,675K,1,650K forecast, 1,635K 1,635K previous
•US Dec Goods Orders Non Defense Ex Air (MoM) 0.0%, 0.4%,-0.1% previous
•US GDP Price Index (QoQ) (Q4) 7.0%, 6.0% forecast,5.9% previous
•US GDP (QoQ) (Q4) 6.9%,5.5% forecast, 2.3% previous
•US Core PCE Prices (Q4) 4.90%,4.90% forecast, 4.60% previous
•US Dec Pending Home Sales Index 117.7, 122.4 previous
•US Pending Home Sales (MoM) -3.8%, -0.2% forecast, -2.2% previous
•US Jan KC Fed Composite Index 24,24 previous
•US KC Jan Fed Manufacturing Index 20 ,10 previous
Looking Ahead - Economic Data (GMT)
•00:30 Australia PPI (YoY) (Q4) 2.9% previous
•00:30 Australia PPI (QoQ) (Q4) 0.9% forecast, 1.1% previous
EUR/USD: The euro declined against dollar on Thursday a day after the Federal Reserve said it could deliver faster and larger interest rate hikes in the months ahead. The Fed's hawkish tone on Wednesday brought dollar bulls out in force. The Fed indicated it was likely to raise rates in March, as widely expected, and reaffirmed plans to end its bond purchases that month before significantly reducing its asset holdings. The dollar index, which measures the greenback's value against other major currencies, rose to 97.299, the highest since July 2020. The 0.8% jump was the biggest single-day gain in more than two months. The euro slumped 0.95% to $1.1133 , its lowest since June 2020. Immediate resistance can be seen at 1.1172 (38.2%fib), an upside break can trigger rise towards 1.1206 (50%fib).On the downside, immediate support is seen at 1.1128(23.6%fib), a break below could take the pair towards 1.1100(Psychological level).
GBP/USD: Sterling hit its lowest level against the U.S. dollar so far this year on Thursday as investors sold off riskier assets in response to the U.S. Federal Reserve saying it would probably raise interest rates in March. Fed Chair Jerome Powell surprised investors by leaving the door open to larger and faster than expected interest rate hikes. Sterling versus the greenback briefly fell to $1.3359, its lowest level since Dec. 23. It was down 0.5% on the day to $1.3379 . Immediate resistance can be seen at 1.3431(38.2%fib), an upside break can trigger rise towards 1.3443 (5DMA).On the downside, immediate support is seen at 1.3369 (50%fib), a break below could take the pair towards 1.3313(61.8%fib).
USD/CAD: The Canadian dollar weakened to a three-week low against its U.S. counterpart on Thursday, as bets on faster interest rate hikes by the Federal Reserve bolstered the greenback against a basket of major currencies. The U.S. dollar busted out of its recent range a day after the Fed flagged it was ready to start lifting rates in March to contain inflation. Money markets have moved to price in as many as five quarter-percentage-point U.S. rate increases by the end of the year . The Canadian dollar was trading 0.6% lower at 1.2745 to the greenback, or 78.52 U.S. cents, after touching its weakest level since Jan. 6 at 1.2747. Immediate resistance can be seen at 1.2751 (23.6%fib), an upside break can trigger rise towards 1.2799 (Higher BB).On the downside, immediate support is seen at 1.2690 (9 DMA), a break below could take the pair towards 1.2638 (5 DMA).
USD/JPY: The dollar rose against the Japanese yen on Thursday after the U.S. Federal Reserve signalled it could start hiking interest rates in March to tame inflationary risks. The Federal Reserve on Wednesday said it is likely to hike interest rates in March and reaffirmed plans to end its bond purchases that month in what U.S. central bank chief Jerome Powell pledged will be a sustained battle to tame inflation. Investors are expecting much more this time, with pricing in federal funds future contracts anticipating four rate increases this year. The Fed's benchmark overnight interest rate is currently set at the near-zero level. Strong resistance can be seen at 115.50 (23.6% fib), an upside break can trigger rise towards 116.00(Psychological level ).On the downside, immediate support is seen at 114.86 (38.2%fib), a break below could take the pair towards 114.64 (5DMA).
European stocks closed higher on Thursday with investors shrugging off concerns about imminent interest rate hikes, and focusing on corporate earnings announcements. Some encouraging European and U.S. economic data too contributed to the positive mood in the markets.
UK's benchmark FTSE 100 closed up by 1.31 percent, Germany's Dax ended up by 0.42 percent, France’s CAC finished the day up by 0.60 percent.
Wall Street gyrated wildly on Thursday, the S&P 500 once again narrowly avoiding correction confirmation at the end of a session marked by a rally, selloff and recovery as investors juggled positive economic news with mixed corporate earnings, geopolitical unrest and the prospect of a more hawkish Federal Reserve.
Dow Jones closed down by 0.02% percent, S&P 500 closed down by 0.54% percent, Nasdaq settled down by 1.40% percent.
Gold prices slid over 1% to more than a two-week low on Thursday, as the dollar rallied after robust U.S. economic data strengthened the case for an interest rate hike by the Federal Reserve in March.
Spot gold was down 1.3% at $1,794.30 an ounce by 14:04 EST (1904 GMT), after hitting a low of $1,790.20. U.S. gold futures fell 2% to $1,793.10.
Oil prices eased on Thursday after Brent crude hit a seven-year high above $90 a barrel, as the market balanced concerns about tight worldwide supply with expectations the U.S. Federal Reserve will soon tighten monetary policy.
Benchmark Brent fell 15 cents to $89.81 a barrel by 1:17 p.m. EST (1817 GMT), while U.S. crude fell 20 cents to $87.15 a barrel in a volatile session with both contracts see-sawing between positive and negative territory.