America’s Roundup: US dollar retreats after softer-than-expected inflation data,Wall Street ends mixed, Gold falls, Oil prices rises

Market Roundup

•  US ADP Nonfarm Employment Change (Sep) 90K, 73K forecast, 36K previous

•US Core PCE Price Index (YoY) (Aug) 3.0%, 3.3% forecast, 3.0% previous

•US Core PCE Price Index (MoM) (Aug) 0.2%, 0.3% forecast, 0.1% previous

•US GDP (QoQ) (Q2) 2.2%, 1.5% forecast, 2.1% previous

•US PCE Price Index (YoY) (Aug) 3.4%, 3.7% forecast, 3.4% previous

•US PCE Price Index (MoM) (Aug) 0.3%, 0.4% forecast, 0.1% previous

•US Personal Spending (MoM) (Aug) 0.9%, 0.8% forecast, 0.1% previous

•US Core PCE Prices (Q2) 3.30%, 3.60% forecast, 4.40% previous

•US GDP Price Index (QoQ) (Q2) 6.1%, 6.4% forecast, 3.6% previous

•US Retail Inventories Ex Auto (Aug) 0.1%, 0.8% previous

•US Goods Trade Balance (Aug) -132.60B, -116.30B forecast, -118.80B previous

•US Real Personal Consumption (MoM) (Aug) 0.6%, 0.1% previous

•US Personal Income (MoM) (Aug) 0.2%, 0.5% forecast, 0.3% previous

•US Real Consumer Spending (Q2) 3.8%, 3.4% forecast, 0.5% previous

•US GDP Sales (Q2) 2.8%, 2.2% forecast, 1.9% previous

•US PCE Prices (Q2) 5.0%, 5.3% forecast, 4.6% previous

•US Corporate Profits (QoQ) (Q2) 7.7%, 8.2% forecast, 0.5% previous

•US Wholesale Inventories (MoM) 0.7%, 0.5% forecast, 1.3% previous

•US Crude Oil Inventories 0.922M, -0.700M forecast, 2.969M previous

•US Atlanta Fed GDPNow (Q3) 3.7%, 5.0% forecast, 5.0% previous

•US Cushing Crude Oil Inventories 0.553M, 2.266M previous

Looking Ahead Economic Data (GMT)  

•01:30 Australia Trade Balance (Aug) 2.000B forecast, 1.923B previous

•01:30 Australia Exports (MoM) (Aug) -3.3% previous

•01:30 Australia Imports (MoM) (Aug) -2.5% previous

Looking Ahead Events And Other Releases (GMT)  

• No Events Ahead

Currency Summaries

EUR/USD : The euro dipped against dollar  on Wednesday  as investors digested     US inflation and US GDP data.US Commerce Department data showed that the Personal Consumption Expenditures Price Index, the Fed's preferred inflation gauge, rose 0.3% last month. Economists polled by Reuters had forecast an increase of 0.4%.Traders are now pricing a 37% probability of a Fed rate hike in October, down from 70% a week ago, according to the CME's FedWatch tool. Separately, ‌the final reading of second-quarter GDP data was revised higher to a 2.2% annualized rate, thanks to solid consumer spending and investments helping to fuel the buildout of AI infrastructure .The single currency is still headed for a monthly loss against the dollar after two consecutive months of gains.. Immediate resistance can be seen at 1.1450(38.2%fib), an upside break can trigger rise towards 1.1539(50%fib).On the downside, immediate support is seen at 1.1348(23.6%fib), a break below could take the pair towards 1.1308(Lower BB).

GBP/USD: Sterling gave up its early gains against the US dollar on Wednesday as investors digested stronger-than-expected UK GDP data and the latest US inflation figures.Britain’s economy grew 0.5% in the second quarter, faster than previously estimated, according to the Office for National Statistics. The data highlighted the resilience of the UK economy despite geopolitical uncertainty and turmoil in global bond markets.Meanwhile, the US Personal Consumption Expenditures price index rose 0.3% in August, following a downwardly revised 0.1% increase in July, data from the Commerce Department’s Bureau of Economic Analysis showed.Separate data showed US GDP expanded at a 2.2% annualized rate in the second quarter, up from the previously estimated 1.5% pace, according to the Commerce Department’s third estimate..  Immediate resistance can be seen at 1.3347(Daily high), an upside break can trigger rise towards 1.3397(50%fib).On the downside, immediate support is seen at 1.3227(Daily low), a break below could take the pair towards1.3178(23.6%fib).

USD/CAD: The Canadian dollar extended its decline against the US dollar on Wednesday as expectations for further Federal Reserve rate hikes and escalating Canada-US trade tensions weighed on the loonie.The United States on Tuesday banned imports of Canadian alcoholic beverages, dairy products and motorcycles, marking the latest escalation in the deepening trade dispute between the two countries.Canadian Prime Minister Mark Carney, who took office last year, has pledged to counter US President Donald Trump’s trade measures. Alongside retaliatory tariffs, Carney has also sought to reduce Canada’s economic dependence on the United States.. Immediate resistance can be seen at 1.4245(23.6%fib), an upside break can trigger rise towards 1.4284(Higher BB).On the downside, immediate support is seen at 1.4144(38.2%fib), a break below could take the pair towards 1.4056(50%fib).

USD /JPY : The US dollar edged higher against the yen on Wednesday as traders assessed the latest US inflation and economic growth data.The Personal Consumption Expenditures price index rose 0.3% in August after a downwardly revised 0.1% increase in July, according to the Commerce Department’s Bureau of Economic Analysis. Core PCE inflation rose 3.0% year-on-year in August, matching the downwardly revised increase recorded in July.Separate data showed US GDP expanded at a 2.2% annualized rate in the second quarter, up from the previously estimated 1.5% pace, supported by solid consumer spending and investment linked to the expansion of AI infrastructure.Meanwhile, oil prices rose and were on track for a strong monthly gain as US-Iran talks aimed at ending the conflict stalled.. Immediate resistance can be seen at 158.12(50%fib), an upside break can trigger rise towards 159.51(Higher BB).On the downside, immediate support is seen at  156.21(SMA 20) a break below could take the pair towards 155.60(61.8%fib).

Equities Recap

European shares posted their first monthly decline in six months on Wednesday as a sharp rise in global bond yields weighed on risk appetite, while investors assessed cooler-than-expected US inflation data.

UK's benchmark FTSE 100 closed down by 0.29 percent, Germany's Dax ended down 0.79, France’s CAC finished the day down by 0.89percent.

The Nasdaq rose on Wednesday while the S&P 500 edged lower, with both indexes posting their second consecutive quarterly gains as softer-than-expected inflation data eased expectations of a Federal Reserve rate hike in October.

Dow Jones closed down by  0.86 % percent, S&P 500 closed down by 0.25 % percent, Nasdaq settled up by 0.24%  percent.

Commodities Recap

Gold surrendered earlier gains and edged lower on Wednesday, remaining on track for a monthly decline as higher energy prices outweighed support from softer-than-expected US inflation data that reduced expectations of an immediate Federal Reserve rate hike.

Spot gold was down 0.7% at $4,152.86 per ounce as of 1:40 ​p.m. ET (1740 GMT). Prices briefly rose after US inflation data came in cooler than ​anticipated. Gold is down 6.6% in September so far.US gold futures settled ⁠0.2% higher at $4,186.70.

Oil prices rose by around $1 a barrel on Wednesday, posting sharp monthly gains as stalled US-Iran peace talks heightened concerns over prolonged supply disruptions, while tightening US fuel markets provided additional support.

The November Brent futures contract, which expired on Wednesday, settled 91 cents, or 0.9%, higher at $103.50 a barrel. The more active December contract gained $1.87, or 1.9%, to $98.03.

US West Texas Intermediate crude settled $1.04, or 1.2%, higher at $90.42 a barrel.