Posted at 19 August 2020 / Categories Market Roundups
Market Roundup
•UK Jul PPI Output (MoM) 0.3%,0.3% forecast, 0.3% previous
•UK Jul Core CPI MoM (MoM) 0.4%, -0.1% forecast, 0.2% previous
•UK Jul Core CPI (YoY) 1.8%,1.3% forecast, 1.4% previous
•UK Jul Core RPI (YoY) 1.9% , 1.3% previous
•UK Jul CPI (MoM ) 0.4%,-0.1% forecast, 0.1% previous
•UK Jul CPI, n.s.a 109.10, 108.60 previous
•UK Jul Core RPI (MoM) 0.5%,0.2% previous
•UK Jul RPI (YoY) 1.6%,1.2% forecast, 1.1% previous
•UK Jul CPI (YoY) 1.0%,0.6% forecast, 0.6% previous
•UK Jul RPI (MoM) 0.5%,0.1% forecast, 0.2% previous
•UK Jul PPI Input (MoM) 1.8%,1.1% forecast, 2.4% previous
•UK Jul Core PPI Output (YoY) -0.1%,0.1% forecast, 3.0% previous
•EU June Current Account n.s.a. 17.3B, -10.5B previous
•EU June Current Account 20.7B, 8.0B previous
•EU June Core CPI (YoY) 1.2%,1.2% forecast, 1.2% previous
•EU Jul Core CPI (MoM ) -0.3%,-0.2% forecast, -0.2% previous
•EU Jul CPI (YoY) 0.4%,0.4% forecast, 0.4% previous
•EU Jul CPI (MoM) -0.4%,-0.3% forecast, 0.3% previous
•US Mortgage Refinance Index3,809.7, 4,025.0 previous
•US MBA Purchase Index 308.9, 306.6 previous
•US Mortgage Market Index 824.5, 852.8 previous
•Canada Trimmed CPI (YoY) 1.7%,1.8% previous
•Canada Common CPI (YoY) 1.3%, 1.5% previous
•Canada Jul Wholesale Sales (MoM) 18.5%, 10.0% forecast, 5.7% previous
•Canada Jul CPI (YoY) 0.1%, 0.5% forecast, 0.7% previous
•Canada Jul CPI (MoM) 0.0%, 0.4% forecast, 0.8% previous
•Canada Jul Core CPI (MoM) -0.1%,0.4% previous
•Canada Jul Core CPI (YoY) 0.7% ,1.1% previous
•Canada Median CPI (YoY) 1.9%,1.9% previous
Looking Ahead – Economic Data (GMT)
•13:30US Seevol Cushing Storage Report 1.731M previous
•14:00 US Payrolls Benchmark, n.s.a. -505.00K previous
•14:00 US Payrolls Benchmark -514.00 previous
•14:30 US Gasoline Inventories -1.057M forecast, -0.722M previous
•14:00 US Crude Oil Inventories -2.670M forecast, -4.512M previous
Looking Ahead - Events, Other Releases (GMT)
•18:00 US FOMC Meeting Minutes
Fxbeat
EUR/USD: The euro edged higher against dollar on Wednesday as euro was supported by U.S.-China tensions and European Central Bank bond purchases. Euro zone annual inflation slightly rose in July and core indicators surged, even amid the deflationary pressures caused by the COVID-19 pandemic and economic crisis, data showed. The euro has been the main beneficiary of dollar weakness, up 6% against the dollar since the end of June. The single currency was up 0.1% on the day, remaining firmly above $1.19. Immediate resistance can be seen at 1.1955 (Higher BB), an upside break can trigger rise towards 1.2000 (Psychological level).On the downside, immediate support is seen at 1.1925 (23.6% fib), a break below could take the pair towards 1.1876 (5 DMA).
GBP/USD: Sterling gained against U.S. dollar on Wednesday after British inflation jumped unexpectedly last month to its highest since March. UK annual consumer price inflation picked up to 1.0% in July from 0.6% in June, as clothing stores refrained from their usual summer discounts as they reopened after the coronavirus lockdown. That was above all forecasts in a Reuters poll of economists that had pointed to an unchanged rate.Last trading at $1.3228, flat on the day, the pound mirrored a trend seen in major currencies against the greenback, staying strong but below the eight-month high of $1.3276 it touched the day before as the dollar weakened. Immediate resistance can be seen at 1.3278 (Higher BB), an upside break can trigger rise towards 1.3300(Psychological level).On the downside, immediate support is seen at 1.3192 (23.6%fib), a break below could take the pair towards 1.3140 (5 DMA).
USD/CHF: The dollar strengthened against the Swiss franc on Wednesday as investors awaited minutes of the U.S. Federal Reserve’s previous meeting for any clues on policy shift. Investors will keep an eye on the minutes from the Federal Reserve’s recent meeting due later on Wednesday for any hints on further action it could take in September. Money market futures expect no change in policy rates until the end of 2021. Immediate resistance can be seen at 0.9071 (5 DMA), an upside break can trigger rise towards 0.9800 (Higher BB).On the downside, immediate support is seen at 0.9051(23.6%fib), a break below could take the pair towards 0.9110 (14 DMA).
USD/JPY: The dollar dipped against the Japanese yen Wednesday as uncertainties about an economic recovery and the U.S. fiscal stimulus package weighed on greenback. The dollar hit fresh lows against most major currencies overnight as the ongoing effects of the Federal Reserve’s stimulus programmes weakened the greenback broadly and lifted U.S. stock indexes to record highs. Minutes from the Fed’s last meeting are due at 1800 GMT, with investors looking out for any hints on further action it could take in September. But no change in policy rates is expected until end-2021. Strong resistance can be seen at 107.07 (21 DMA), an upside break can trigger rise towards 107.45 (30 DMA).On the downside, immediate support is seen at 105.10 (Daily low), a break below could take the pair towards 104.59(lower BB).
Equities Recap
European stocks slipped on Wednesday, failing to draw strength from a record run for Wall Street’s S&P 500, as investors feared a resurgence in coronavirus cases could dent a nascent economic recovery in the continent.
At (GMT 12:14 ),UK's benchmark FTSE 100 was last trading up at 0.13 percent, Germany's Dax was up by 0.28 percent, France’s CAC finished was up by 0.10 percent.
Commodities Recap
Gold fell below $2,000 an ounce on Wednesday as the dollar steadied, with investors awaiting minutes from the U.S. Federal Reserve’s last policy meeting.
Spot gold was down 0.7% at $1,987.36 per ounce by 0654 GMT, after hitting a one-week high of $2,014.97 on Tuesday.U.S. gold futures fell 0.8% to $1,997.70.
Oil prices eased on Wednesday on concerns U.S. fuel demand will face a slow recovery amid stalled talks on an economic stimulus package and despite support from a bigger-than-expected drawdown in U.S. crude stocks.
Brent crude futures were down 32 cents, or 0.7%, to $45.14 a barrel at 1005 GMT, but still not far off a 5-month high above $46 a barrel reached earlier in August.U.S. West Texas Intermediate (WTI) crude futures were down 32 cents, or 0.75%, at $42.57 a barrel.