America’s Roundup: Dollar eases as growth fears push yields lower, Wall Street ends lower, Gold gains, Oil falls around 3% -June 23rd,2022
America’s Roundup: Dollar dips after Fed statement, Wall Street closes higher, Gold rallies, Oil prices fall over 2% as Fed hikes interest rates-June 16th,2022
Europe Roundup: Euro rises with focus on ECB, European stocks muted, Oil prices stable as market balances recession fears with tight supply-June 20th,2022
America’s Roundup: U.S. dollar gains from one-week low, Wall Street ends up, Gold falls, Oil slumps 6% to four-week low on recession worries-June 18th,2022
Europe Roundup: Sterling dips on Brexit risks and economic woes, European shares rise,Gold firms, Oil extends gains as major producers flag capacity limits-June 28th,2022
America’s Roundup: Dollar gains, euro slips as Lagarde keeps July policy choices open, Wall Street stumbles, Gold little changed, Oil settles higher as major producers signal capacity limits-June 29th,2022
Europe Roundup: Sterling retreats as UK inflation hits new 40-year high, European shares fall,Gold extends fall, Oil slumps by around $5-June 22nd,2022
Europe Roundup: Sterling gains against weaker dollar , European shares rises, Gold firms, Oil surges above $1 but on course for second weekly declined on recession fears-June 24th,2022
America’s Roundup: Dollar gains as Powell doubles down on policy tightening, Wall Street ends higher, Gold slips, Oil prices slump as investors fear Fed rate hikes will hurt demand-June 24th,2022
Europe Roundup: Euro struggles around $1.05 on gloomy PMIs, European shares falls, Gold dips, Oil rebounds as investors assess recession risks-June 23rd,2022
America’s Roundup: Dollar pulls back as markets reassess Fed interest rate path, Wall Street ends higher, Gold edges higher, Oil settles up but posts a weekly decline on recession worries-June 25th,2022
Market Roundup: Sterling rises as BoE's Pill sees further rate rises ahead, European shares gain, Gold dips, Oil rises on market caution over tight supply-June 21st,2022
America’s Roundup: Dollar eases as investor await more cues from Fed, Gold firms, Oil swings higher as tight supplies overshadow demand destruction-June 21st,2022
Europe Roundup: Euro dips as dollar stands tall ,European stocks slips, Gold ticks up, Oil prices rise as tight supply counters China COVID, recession worries-June 14th,2022
Europe Roundup: Sterling near one-week low vs dollar, European stocks fall, Gold edges lower, Oil prices rise for fourth day on supply worries-June 29th,2022
Europe Roundup: Pound dips on record current account shortfall , European shares dips,Gold falls, Oil steady as fuel stocks counter supply concerns-June 30th,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
•US Apr Import Price Index (MoM) 0.0%, 0.6% forecast, 2.6% previous
•US Apr Export Price Index (MoM) 0.6%, 0.7% forecast, 4.5% previous
•Canada New Motor Vehicle Sales (MoM) 144.6%,103.0% previous
•US May Michigan 5-Year Inflation Expectations 3.00%, 3.00% previous
•US May Michigan Consumer Sentiment 5.4%,64.0 forecast, 65.2 previous
•US May Michigan Consumer Expectations 56.3,63.0 forecast, 62.5 previous
•US May Michigan Current Conditions 70.5 forecast, 69.4 previous
•U.S. Baker Hughes Oil Rig Count 563, 557 previous
•U.S. U.S. Baker Hughes Total Rig Count 714, 705 previous
Looking Ahead - Economic Data (GMT)
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Looking Ahead - Economic events and other releases (GMT)
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EUR/USD: The euro edged higher against dollar on Friday as investor sentiment stabilized after a volatile week of trading, helping to push up euro . Investors are anxious about whether U.S. Federal Reserve Chair Jerome Powell can accomplish a “soft landing,” where the Fed raises interest rates just enough to reduce elevated inflation without causing the economy to contract.The single currency has been battered in recent weeks by a combination of fears for the economy suffering from the fallout of the war in Ukraine, and a huge rally in the U.S. dollar fuelled by bets the Federal Reserve will deliver a series of big interest rate hikes to tame inflation. Immediate resistance can be seen at 1.0451 (38.2%fib), an upside break can trigger rise towards 1.0478(5DMA).On the downside, immediate support is seen at 1.0345(23.6%fib), a break below could take the pair towards 1.0325 (Lower BB).
GBP/USD Britain’s pound steadied against the dollar on Friday, although it was set for a fourth consecutive week of losses after selling that pushed the currency to two-year lows. Britain’s pound steadied against the dollar on Friday, although it was set for a fourth consecutive week of losses after selling that pushed the currency to two-year The pound had fallen to a two-year low of $1.2165 on Thursday after data showed Britain’s economy unexpectedly shrank 0.1% in March following a slump in car sales. Sterling was up 0.3% to $1.22340 at 1537 GMT, swinging back from modest losses earlier in afternoon trading, when it had been down 0.07% against the U.S. currency. Immediate resistance can be seen at 1.2283(38.2%fib), an upside break can trigger rise towards 1.2370(50%fib).On the downside, immediate support is seen at 1.2157 (23.6%fib), a break below could take the pair towards 1.2053(Lower BB).
USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Friday as oil prices rose and equity markets globally clawed back some recent losses, but the currency still added to a string of weekly declines.The loonie was up 0.7% higher at 1.2950 to the greenback, after trading in a range of1.2915 to 1.3049. The price of oil, one of Canada's major exports, climbed onfears supplies would tighten if the European Union bans Russian oil. U.S. crude oil futures settled 4.1% higher at $110.49 a barrel. For the week, the loonie was down 0.3%, its seventh straight weekly decline. It touched on Thursday its weakest intraday level in 18 months at 1.3076. Immediate resistance can be seen at 1.2927 (38.2%fib), an upside break can trigger rise towards 1.3044 (23.6%fib).On the downside, immediate support is seen at 1.2827 (50%fib), a break below could take the pair towards 1.2797 (5DMA).
USD/JPY: The dollar strengthened against yen on Friday as investors remained concerned about slowing global growth and Federal Reserve policy tilting the United States into a recession. High inflation and the Fed's rate hike path have fueled worries of a policy error that could cause recession or a stagflation scenario of slowing growth and high prices. The dollar showed little reaction on Friday to data showing U.S. import prices were unexpectedly flat in April as a decline in petroleum costs offset gains in food and other products, a further sign that inflation has probably peaked.The dollar rose 0.36% to 129.23 yen. Strong resistance can be seen at 129.75(5DMA), an upside break can trigger rise towards 130.40 (23.6%fib).On the downside, immediate support is seen at 127.64(38.2%fib), a break below could take the pair towards 126.91 (Lower BB).
European shares rose on Friday, closing higher for the first time in five weeks, as a bout of bargain hunting took over after worries about aggressive monetary policy tightening and slowing global growth.
The UK's benchmark FTSE 100 closed up by 2.55 percent, Germany's Dax ended up by 2.10 percent, and France’s CAC finished the up by 2.52 percent.
Wall Street surged on Friday to end higher, closing the book on a week of wild market gyrations as relief at signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into recession.
Dow Jones closed up by 1.47 percent, S&P 500 ended up 2.38 percent, Nasdaq finished the day up by 3.82 percent.
Treasury yields rose on Friday, reversing the week's rally in bond prices driven by the largest weekly inflows since COVID-19 slammed markets in March 2020, as fears of a Federal Reserve policy error and runaway inflation subsided.
The yield on 10-year Treasury notes rose 9.4 basis points to 2.911%, helped by Labor Department data that showed import prices were flat in April. That added evidence of a slight moderation in the rising pace of inflation.
Gold fell more than 1% on Friday and is set for its fourth straight weekly decline, as the dollar's strong run with more aggressive U.S. interest rates on the horizon sapped appetite for bullion.
Spot gold fell 0.7% to $1,808.89 per ounce by 01:54 p.m. EDT (1754 GMT), after hitting its lowest since Feb. 4 at $1,798.86. It has declined nearly 4% this week.
Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil.
Brent futures rose $4.10, or 3.8%, to settle at $111.55 a barrel. U.S. West Texas Intermediate (WTI) crude rose $4.36, or 4.1%, to settle at $110.49.