Posted at 17 September 2020 / Categories Market Roundups
Market Roundup
•German Aug Car Registration (MoM) -20.3%,31.0% previous
•German Aug Car Registration (YoY) -5.8%,-34.9% previous
•German Aug Car Registration (MoM) -50.1%,618.0% previous
•French Aug Car Registration (YoY) -19.8%,1.2% previous
•Italian Aug Car Registration (YoY) -0.4%,-23.1% previous
•Italian Aug Car Registration (MoM) -35.0%, 32.8% previous
•Italian Jul Trade Balance EU 3.01B, 1.56B previous
•EU Construction Output (MoM) 0.19%, 4.04% previous
•EU Aug CPI ex Tobacco (MoM) -0.4%, -0.4% previous
•EU Aug CPI ex Tobacco (YoY) -0.3%,0.2% previous
•EU Aug HICP ex Energy and Food (MoM) -0.5%,-0.4% forecast, -0.3% previous
•EU Aug CPI (MoM) -0.4%,-0.4% forecast, -0.4% previous
•EU Aug CPI (YoY) -0.2%, -0.2% forecast, 0.4% previous
•EU Aug HICP ex Energy & Food (YoY) 0.6%,0.6% forecast, 1.3% previous
•EU Aug Core CPI (YoY) 0.4%,0.4% forecast, 1.2% previous
•UK Sep BoE Interest Rate Decision 0.10%,0.10% forecast, 0.10% previous
•US Sep Philly Fed CAPEX Index 31.00, 23.00 previous
•US Aug Housing Starts (MoM) -5.1%, 22.6% previous
•US Continuing Jobless Claims 12,628K,13,000K forecast, 13,385K previous
•US Jobless Claims 4-Week Avg 912.00K, 970.75K previous
•Canada ADP Nonfarm Employment Change -205.4K, 1,149.8K previous
•US Sep Philly Fed Employment 15.7,9.0 previous
•US Sep Philly Fed Prices Paid 25.10,15.30 previous
•US Sep Philly Fed New Orders 25.5, 19.0 previous
•US Aug Building Permits (MoM) -0.9%, 17.9% previous
•US Sep Philadelphia Fed Manufacturing Index 15.0, 15.0, 17.2 previous
•US Aug Housing Starts 1.416M,1.478M forecast, 1.496M previous
•US Sep Philly Fed Business Conditions 56.6, 38.8 previous
•US Aug Building Permits 1.470M,1.520M forecast, 1.483M previous
•Russia Central Bank Reserves (USD) 591.8B,591.7B previous
Looking Ahead – Economic Data (GMT)
•14:30 Natural Gas Storage 79B forecast, 70B previous
•15:30 US 8-Week Bill Auction 0.105% previous
•15:30 US 4-Week Bill Auction 0.090% previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events ahead
Fxbeat
EUR/USD: The euro slipped lower against dollar on Thursday after the U.S. Federal Reserve kept interest rates unchanged, with inflation looking likely to remain subdued for three years.The U.S. central bank promised to keep rates near zero until inflation is on track to “modestly exceed” its 2% target.New economic projections released with the policy statement showed most policymakers see interest rates on hold through to at least 2023, with inflation not breaching 2% over that period. The single currency briefly hit a one-month low in Asian trading at $1.1737 before trimming some losses to stand 0.2% lower on the day at $1.1798. Immediate resistance can be seen at 1.1840 (21 DMA), an upside break can trigger rise towards 1.1935 (Higher BB).On the downside, immediate support is seen at 1.1729 (38.2%fib), a break below could take the pair towards 1.1756 (Lower BB ).
GBP/USD: The pound’s recent recovery against a weaker dollar was interrupted on Thursday when the dollar strengthened following the U.S. Federal Reserve meeting .The Fed decided to keep interest rates on hold in the near future, disappointing investors who had bet that the Fed might unveil more policy easing.The dollar saw its biggest daily rise in more than a week and riskier currencies - including the pound - lost out. Immediate resistance can be seen at 1.2987 (50% fib), an upside break can trigger rise towards 1.3063 ( 14 DMA).On the downside, immediate support is seen at 1.2865 (38.2% fib), a break below could take the pair towards 1.2714 (23.6%fib).
USD/CHF: The dollar edged lower against the Swiss franc on Thursday after the U.S. Federal Reserve set off a wave of dollar buying by announcing no new aggressive easing measures after its overnight policy meeting. At its policy meeting, the Fed pledged to keep rates near zero until at least the end of 2023 when the labour market reaches “maximum employment” and inflation is on track to “moderately exceed” the 2% target. The dollar index rose about 0.32% to trade at 93.493 before erasing most of its gains to trade nearly flat on the day at 93.22. Immediate resistance can be seen at 0.9112 (11DMA), an upside break can trigger rise towards 0.9126(50% fib).On the downside, immediate support is seen at 0.9082(Daily low), a break below could take the pair towards 0.9057 (Lower BB ).
USD/JPY: The dollar declined to hit seven week low against the Japanese yen on Thursday after the U.S. Federal Reserve’s pledge to keep rates near zero until at least 2023. The U.S. central bank on Wednesday vowed to keep interest rates near zero until inflation is on track to overshoot its 2% target . New economic projections released with the policy statement showed most policymakers see interest rates on hold through to at least 2023, with inflation not breaching 2% over that period.Strong resistance can be seen at 105.16 (Daily high), an upside break can trigger rise towards 105.55 (50% fib).On the downside, immediate support is seen at 104.47 (38.2%fib), a break below could take the pair towards 104.00 (Psychological level).
Equities Recap
European stocks fell from a one-month closing high on Thursday after an underwhelming response to the U.S. Federal Reserve’s pledge to keep interest rates low for a prolonged period.
At (GMT 13:00 ),UK's benchmark FTSE 100 was last trading down at 0.40 percent, Germany's Dax was down by 0.98 percent, France’s CAC was last down by 0.99 percent.
Commodities Recap
Gold slipped as much as 1% on Thursday after the U.S. Federal Reserve disappointed expectations for further stimulus to spur inflation and support the economy, battered by the coronavirus crisis.
Spot gold dropped 0.9% to $1,940.96 per ounce by 0951 GMT. U.S. gold futures slipped 1.2% to $1,947.40.
Oil prices were mixed in early trade on Thursday, just clinging to overnight gains, as concerns about weak fuel demand were in the frame again after Hurricane Sally blasted through the Gulf of Mexico into the southeastern United States.
U.S. West Texas Intermediate (WTI) crude futures were flat at $40.16 a barrel at 0118 GMT, after jumping 4.9% on Wednesday.
Brent crude futures gained 5 cents, or 0.1%, to $42.27 a barrel, after climbing 4.2% on Wednesday.