America’s Roundup: Dollar eases as growth fears push yields lower, Wall Street ends lower, Gold gains, Oil falls around 3% -June 23rd,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 index jumps to two-decade high as traders await Fed rate move , Wall Street slips, Gold eases, Oil prices settle down on fears of Fed and oil profit tax-June 15th,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
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: Sterling retreats as UK inflation hits new 40-year high, European shares fall,Gold extends fall, Oil slumps by around $5-June 22nd,2022
America’s Roundup: Dollar pulls back as markets reconsider Fed rate bets, Wall Street ends higher, Gold edges lower, Oil surges after G7 pledge fresh Russian sanctions-June 28th,2022
America’s Roundup: Dollar gains on hot U.S. inflation data, Wall Street ends down sharply, Gold rebounds, Oil falls as U.S. inflation data surges, China imposes lockdowns-June 11th,2022
Europe Roundup: Sterling set for second weekly decline vs dollar as economic outlook weighs, European stocks falls, Gold dips, Oil prices on track for weekly gain amid high U.S. demand-June 10th,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
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 gains on hawkish comments from Powell, Wall Street ends mixed, Gold little changed, Oil slides 2% on rising U.S. fuel stocks and output-June 30th,2022
America’s Roundup: Dollar bounces from two-day slide,Wall Street plunges, Gold gains, Oil rebounds as new Iran sanctions fuel more supply concerns-June 17th,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
America’s Roundup: Dollar slips as recession risk keeps investors cautious, Wall Street ends higher, Gold falls, Oil ticks higher on strong demand, tight supply-June 22nd,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
America’s Roundup: Dollar rally stalls as risk appetite returns, Wall Street ends higher, Gold slips, Oil falls 2% on Powell comments, hopes for Venezuela supply-May 18th,2022
•US Apr Core Retail Sales (MoM) 0.6%,0.4% forecast, 1.4% previous
•US Apr Retail Control (MoM) 1.0%,0.5% forecast, 0.7% previous
•US Apr Retail Sales (MoM) 0.9%, 0.9% forecast, 0.7% previous
•Canada Mar Foreign Securities Purchases 46.94B,7.44B previous
•US Retail Apr Sales Ex Gas/Autos (MoM) 1.0%, 0.7% previous
•US Redbook (YoY) 12.7%,13.1% previous
•US Industrial Production (YoY) 6.40%,5.47% previous
•US Apr Manufacturing Production (MoM) 0.8%,0.4% forecast, 0.9% previous
•US Apr Capacity Utilization Rate 79.0%,78.6% forecast, 78.3% previous
•US Apr Industrial Production (MoM) 1.1%,0.5% forecast,0.9% previous
•US Mar Retail Inventories Ex Auto 2.5%, 2.3% forecast,1.4% previous
•New Zealand GlobalDairyTrade Price Index -2.9%,-8.5% previous
Looking Ahead - Economic Data (GMT)
• 04:30 Japan Mar Capacity Utilization (MoM) 1.5% previous
•04:30 Japan Mar Industrial Production (MoM) 0.3%forecast,2.0% previous
Looking Ahead - Economic events and other releases (GMT)
• No Significant events
EUR/USD: The euro rose higher against dollar on Tuesday as hawkish comment from Dutch central bank chief Klaas Knot helped the euro jump back above $1.05. Knot said that not only was the European Central Bank set to hike rates by 25 basis points in July, the central bank was also ready to consider a bigger rise if inflation proved higher than expected. Following Knot’s comments, the euro swiftly more than doubled its gains to more than 1%, to $1.0542.The currency had already benefited from ECB policymaker Francois Villeroy de Galhau arguing on Monday that a weak euro could threaten price stability in the currency bloc. Immediate resistance can be seen at 1.0537(50% fib), an upside break can trigger rise towards 1.0623 (61.8% fib).On the downside, immediate support is seen at 1.0464 (38.2% fib), a break below could take the pair towards 1.0354 (23.6% fib).
GBP/USD: Sterling strengthened on Tuesday after strong labour market data reinforced expectations that the Bank of England would continue to raise rates to fight inflation. Britain's jobless rate hit a 48-year low in the first three months of 2022 and employers paid bigger bonuses to keep or attract staff, according to data that added to bets by investors on further Bank of England interest rate hikes. Investors priced in a 30% chance that the BoE's Monetary Policy Committee will resort to raising interest rates by half a percentage point in June. Immediate resistance can be seen at 1.2508 (38.2%fib),an upside break can trigger rise towards 1.2620 (50%fib).On the downside, immediate support is seen at 1.2361 (23.6%fib), a break below could take the pair towards 1.2301 (5DMA).
USD/CAD: The Canadian dollar strengthened against the greenback on Tuesday, and the yield on benchmark government debt climbed. Canadian government 10-year bond yields rose 6.1 basis points to 2.984%. The yield on similar U.S. government benchmark debt rose to 2.9531%.U.S. June crude futures rose 28 cents to $114.48 a barrel on Tuesday.The loonie was trading 0.1% higher at C$1.2829 to the greenback, or 77.95 U.S. cents, after trading in a range of 1.2807 to 1.2853..Immediate resistance can be seen at 1.2830 (21DMA), an upside break can trigger rise towards 1.2880 (23.6%fib).On the downside, immediate support is seen at 1.2787 (38.2%fib), a break below could take the pair towards 1.2716 (50%fib).
USD/JPY: The dollar eased against the Japanese yen on Tuesday as an uptick in investors’ appetite for riskier bets diminished the U.S. currency’s safe-haven appeal. The U.S. Dollar Currency Index, which tracks the greenback against six major currencies, was down 0.7% at 103.39, its lowest since May 6. The index hit a two-decade high last week supported by a hawkish Federal Reserve and worries over the global economic fallout from the Russia-Ukraine conflict. Strong resistance can be seen at 129.80 (10 DMA), an upside break can trigger rise towards 130.17 (23.6%fib).On the downside, immediate support is seen at 128.54 (38.2%fib), a break below could take the pair towards 127.27(50%fib).
European stocks closed on a strong note on Tuesday, lifted by some encouraging economic data from the region, and on expectations of demand revival in China after Shanghai pledged to gradually ease its Covid lockdown in June.
UK's benchmark FTSE 100 closed up by 0.72 percent, Germany's Dax ended up by 1.59 percent, France’s CAC finished the day up by 1.30 percent.
Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth.
Dow Jones closed up by 0.65%percent, S&P 500 closed up by 1.17% percent, Nasdaq settled up by 2.76 % percent.
U.S. Treasury yields rose on Tuesday after data showed that retail sales increased strongly in April, reducing fears that the American economy is likely to fall into recession as the Federal Reserve aggressively hikes interest rates.
The 10-year yields were last at 2.955%, up 7 basis points on the day.The yield curve between two-year and 10-year yields flattened two basis points to 29 basis points.
Gold fell on Tuesday pressured by robust U.S. retail sales data and expectations of aggressive interest rate hikes, although a pullback in the dollar limited losses.
Spot gold fell 0.5% to $1,815.19 per ounce by 2:40 p.m. ET (1840 GMT), while U.S. gold futures settled up 0.3% at $1,818.9.
Oil prices slumped 2% on Tuesday on report that the United States could ease some restrictions on Venezuela's government, raising hopes that the market could see some additional supplies.
Brent crude fell $2.31, or 2%, to settle at $111.93 a barrel, and U.S. West Texas Intermediate (WTI) crude fell $1.8, or 1.6%, to settle at $112.40 a barrel.