Posted at 09 August 2021 / Categories Market Roundups
Market Roundup
•Swiss Jul Unemployment Rate n.s.a 3.0%,2.8% forecast, 2.8% previous
•Swiss Jul Unemployment Rate s.a 2.8%,3.0% forecast, 3.1% previous
•German Jun Exports (MoM) 1.3%,0.4% forecast, 0.3% previous
•German Jun Trade Balance13.6B, 13.4B forecast, 12.6B previous
•German Jun Imports (MoM) 0.6%,0.5% forecast, 3.4% previous
• Greek Jun Industrial Production (YoY) 8.8%,14.0% previous
Looking Ahead –Economic Data (GMT)
•13:00 French 12-Month BTF Auction -0.642% previous
•13:00 French 3-Month BTF Auction -0.646% previous
•13:00 French 6-Month BTF Auction -0.680% previous
•14:00 US Jun JOLTs Job Openings 9.270M forecast, 9.209M previous
•14:00 US Jul CB Employment Trends Index 109.84 previous
•15:30 US 6-Month Bill Auction 0.055% previous
•15:30 US 3-Month Bill Auction 0.050% previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
Fxbeat
EUR/USD: The euro dipped against dollar on Monday after data showed Euro zone investor morale fell to 3-month low. Investor morale in the euro zone fell in August to a three-month low on a sharp drop in expectations due to concerns that new lockdown restrictions could loom in the autumn and beyond, a survey showed on Monday.Sentix’s index for the euro zone fell to 22.2 points in August from 29.8 in July. A poll had pointed to an August reading of 29.0. Immediate resistance can be seen at 1.1791(50%fib), an upside break can trigger rise towards 1.1831(61.8%fib).On the downside, immediate support is seen at 1.1751 (38.2% fib), a break below could take the pair towards 1.1707(23.6%fib)
GBP/USD: The pound edged higher on Monday as investors focused on the possible pace of monetary policy tightening after the Bank of England meeting last week.In recent weeks, sterling has outperformed as COVID-19 cases have fallen and high vaccination rates have allowed the British government to lift most social-distancing rules. At 0801 GMT on Monday, the pound was down 0.1% versus the dollar, at $1.3864. Immediate resistance can be seen at 1.3989(Daily high),an upside break can trigger rise towards 1.3949(23.6%fib).On the downside, immediate support is seen at 1.3834(38.2%fib), a break below could take the pair towards 1.3762 (50%fib).
USD/CHF: The dollar strengthened against the Swiss franc on Monday as greenback continued its upwards march following Fridays strong U.S. jobs report. U.S. jobs report stoked bets that a reduction in asset purchases could start this year and higher interest rates could follow as soon as 2022.The dollar index , which tracks the U.S. currency against six rivals, rose to a two-week top 92.915. At 10:12 GMT, the dollar was trading 0.24 percent lower higher the swiss franc at 0.9166.Immediate resistance can be seen at 0.9171(38.2%fib), an upside break can trigger rise towards 0.9216 (23.6%fib).On the downside, immediate support is seen at 0.9133 (50%fib), a break below could take the pair towards 0.9096 (50%fib).
USD/JPY: The dollar strengthened against the Japanese yen on Monday as the dollar rallied after strong U.S. labour data bolstered expectations for early tapering of economic support. U.S. Labor Department data showed employers hired the most workers in nearly a year in July and continued to raise wages. Traders will be keenly watching a U.S. consumer price report on Wednesday. Figures for July CPI due this week is expected to confirm inflation has peaked, with prices for second hand vehicles finally easing back after huge gains.Strong resistance can be seen at 110.44(50%fib), an upside break can trigger rise towards 110.97 (61.8%fib).On the downside, immediate support is seen at 110.32(50%fib), a break below could take the pair towards 109.75(23.6%fib).
Equities Recap
European stocks were mixed on Monday, with the UK’s blue-chip index weighed down by a fall in commodity prices, while other regional indexes stayed near their recent highs as the earnings season winds down.
At (GMT 10:03),UK's benchmark FTSE 100 was last trading up at 0.28 percent, Germany's Dax was up by 0.20 percent, France’s CAC was last up by 0.03 percent.
Commodities Recap
Gold fell to its lowest in more than four months, dropping as much as 4.4% at one point on Monday, as the dollar rallied after strong U.S. labour data bolstered expectations for early.
Spot gold was down 0.9% at $1,746.80 per ounce at 0837 GMT. Prices slumped below $1,700 in early Asia trade but pared some of those losses.U.S. gold futures shed 0.8% to $1,748.30.
Oil prices fell by 4% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.
Brent crude futures fell by $2.82, or 4.2%, to $67.88 a barrel by 0930 GMT after a 6% slump last week for their biggest weekly loss in four months.
U.S. West Texas Intermediate (WTI) crude futures fell $2.85, or 4.3%, to $65.43 after plunging by nearly 7% last week. On Monday the contract fell as low as $65.15, its lowest since May.