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
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 gains after Powell warns on rates , U.S. stocks closes lower, Gold holds some gains, Brent oil finishes over $80 after this week's sell-off-November 10th,2023
America’s Roundup: Dollar hits over 2-1/2-month low ,Wall Street closes up, Gold edges lower, Oil prices surges more than 2% amid expectations of OPEC intensifying production cuts-November 21st,2023
America’s Roundup: Dollar rebounds, Fed officials take center stage, Wall Street ends higher, Gold eases, Oil rises as Saudi Arabia and Russia stick to supply cuts-November 7th,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 edges lower versus stronger dollar, European shares gain, Gold extends decline, Brent oil hovers around $80 after this week's downward spiral-November 9th,2023
America’s Roundup: Dollar touched lowest since mid August,Wall Street ends slightly higher, Gold extends gains, Oil settles up 2%; focus on OPEC+, storm-hit Kazakh output-November 29th,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: 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 rebounds from 2-1/2-month lows, Wall Street closes higher,Gold drops ,Oil edges lower in choppy trade as OPEC+ delays meeting-November 23rd,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 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
America’s Roundup: Dollar bounces after sharp selloff, Wall Street ends higher ,Gold retreats, Oil dives 4% to lowest since July on demand worry-November 8th,2023
Europe Roundup: Euro gains against weaker dollar, European shares subdued ,Gold falls, Oil edges up on expectations of further OPEC+ supply cuts-November 20th,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: Sterling helped by tax cut U-turn, Gold firms, Oil jumps more than $3 as OPEC+ weighs biggest output cut since 2020-October 3rd,2022
•Swiss Sep CPI (YoY) 3.3%, 3.5% forecast,3.5% previous
•Swiss Sep CPI (MoM) -0.2%, 0.2% forecast, 0.3% previous
•Sweden Sep Manufacturing PMI 49.2, 50.6 previous
•Italian Sep Manufacturing PMI 48.3, 47.5 forecast, 48.0 previous
•French Sep Manufacturing PMI 47.7, 47.8 forecast, 47.8 previous
•German Sep Manufacturing PMI 47.8, 48.3 forecast, 49.1 previous
•UK Sep Manufacturing PMI 48.4, 48.5 forecast, 49.6 previous
•UK Sep Manufacturing PMI 48.4, 48.5 forecast, 47.3 previous
Looking Ahead - Economic Data (GMT)
•13:00 French 12-Month BTF Auction 1.855% previous
•13:00 French 6-Month BTF Auction 1.325% previous
•13:00 French 3-Month BTF Auction 0.681% previous
•13:30 Canada Sep Manufacturing PMI 48.7 previous
•13:45 US Sep Manufacturing PMI 51.8 forecast, 51.5 previous
•14:00 US Aug Construction Spending (MoM) -0.3% forecast, -0.4% previous
•14:00 US ISM Sep Manufacturing Employment 53.0 forecast, 54.2 previous
•14:00 US Sep ISM Manufacturing PMI 52.2 forecast, 52.8 previous
•14:00 US Sep ISM Manufacturing Prices 51.9 forecast, 52.5 previous
•15:00 US Aug Dallas Fed PCE 3.40% previous
•15:30 US 3-Month Bill Auction 2.880% previous
Looking Ahead - Events, Other Releases (GMT)
•13:05 US FOMC Member Bostic Speaks
•18:15 US FOMC Member George Speaks
•19:10 US FOMC Member Williams Speaks
EUR/USD: The euro was marginally lower against dollar Monday, with expectations for another jumbo European Central Bank rate hike this month following a red-hot inflation read-out, heightening worries that the economy will be tipped into a recession.Data on Friday showed that euro zone inflation zoomed past forecasts to a record high of 10.0% in September, above expectations of 9.7%. The euro fell 0.2% to $0.97785, not helped by data that showed manufacturing activity across the euro zone declined further last month.Immediate resistance can be seen at 0.9852 (Daily high), an upside break can trigger rise towards 0.9916 (38.2%fib).On the downside, immediate support is seen at 0.9756 (23.6%fib), a break below could take the pair towards 0.9590(Lower BB).
GBP/USD: The pound edged up on Monday on news Britain would reverse plans to cut the highest rate of income tax, one contentious part of a package of financial measures that last month sent sterling and British government bonds into meltdown. Finance minister Kwasi Kwarteng said the decision to scrap the top rate tax cut had been taken with "some humility and contrition", after his party's lawmakers reacted with alarm to a move that favoured the rich during an economic downturn. The pound gained as much as 1% to $1.128 on initial media reports of the U-turn.Sterling later pared some of its gains and was last up 0.4% at $1.12085. Immediate resistance can be seen at 1.1305(38.2%fib), an upside break can trigger rise towards 1.1442 (30DMA).On the downside, immediate support is seen at 1.1091 (Daily low), a break below could take the pair towards 1.1016 (23.6%fib).
USD/CHF: The dollar strengthened against the Swiss franc on Monday as fears of aggressive rate hikes by the U.S. Federal Reserve boosted dollar. On investors’ radar are the U.S. non-farm payrolls data due on Friday and a host of manufacturing PMI data for insight into the health of the global economy. On Friday, the Fed's No. 2 official added her full endorsement of the U.S. central bank's higher-for-longer game plan for interest rates to curb inflation.Last month, the Fed raised its policy rate by 75 basis points, its third straight increase of that size, and signalled more large hikes to come this year. Immediate resistance can be seen at 0.9903(23.6% fib), an upside break can trigger rise towards 0.9955(Higher BB).On the downside, immediate support is seen at 0.9842(Daily low), a break below could take the pair towards 0.9802(38.2%fib).
USD/JPY: The dollar steadied against the Japanese yen on Monday after finance minister Shunichi Suzuki said Japan stood ready intervene in Forex market. Monday's fall came as finance minister Shunichi Suzuki said Japan stood ready for "decisive" steps in the foreign exchange market if excessive yen moves persisted .The yen has been weakening due to Japan's policy of keeping interest rates pinned down at a time when they are rising elsewhere. After much speculation, authorities last month intervened in markets, spending a record of 2.8 trillion yen ($19.7 billion) to prop up the currency.Strong resistance can be seen at 145.09 (23.6%fib), an upside break can trigger rise towards 145.65(Higher BB). On the downside, immediate support is seen at 144.61 (5DMA), a break below could take the pair towards 143.47(38.2%fib).
European shares slid on Monday, led by technology and financial stocks, as investors fretted about the economic health of the continent due to rampant inflation and subsequent aggressive interest rate hikes to tame it.
At (GMT 12:30 ),UK's benchmark FTSE 100 was last trading down at 0.41 percent, Germany's Dax was down by 0.15 percent, France’s CAC was up by 0.30 percent.
Gold prices edged higher on Monday, helped by a pullback in the dollar and U.S. Treasury yields, although the gains were capped on fears of aggressive rate hikes by the U.S. Federal Reserve.
Spot gold was up 0.2% at $1,663.70 per ounce, as of 1043 GMT. U.S. gold futures were steady at $1,672.
Oil prices jumped by more than $3 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the COVID-19 pandemic.
Brent crude futures rebounded $3.37, or 4%, to $88.51 a barrel by 1100 GMT. U.S. West Texas Intermediate crude was up 4.1%, or $3.29, at $82.78.
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