Posted at 17 August 2021 / Categories Market Roundups
Market Roundup
•Finnish GDP (QoQ) 2.0%,-0.1% previous
•Finnish Jun GDP (YoY) 9.7%, 9.0% previous
•UK Labour Productivity-0.5%,0.9% previous
•UK Jul Claimant Count Change -7.8K, -114.8K previous
•UK Jul Unemployment Rate 4.7%,4.8% forecast, 4.8% previous
•UK Jun Average Earnings ex Bonus 7.4% ,7.4% forecast, 6.6% previous
•UK Jun Average Earnings Index +Bonus 8.8%,8.6% forecast, 7.3% previous
•UK Jun Employment Change 3M/3M (MoM) 95K, 75K forecast, 25K previous
•UK Jun Employment Change (QoQ) (Q2) 1.8%,-2.1% forecast, -1.8% previous
•EU GDP (QoQ) (Q2) 2.0%,2.0% forecast, 2.0% previous
•EU GDP (YoY) (Q2) 13.6%,13.7% forecast, 13.7% previous
Looking Ahead –Economic Data (GMT)
•12:30 US Jul Retail Sales (YoY) 17.98% previous
•12:30 US Jul Retail Sales (MoM) -0.3% forecast, 0.6% previous
•12:30 Canada Jun Foreign Securities Purchases 20.79B previous
•12:30 US Jul Core Retail Sales (MoM ) 0.1% forecast, 1.3% previous
•12:30 US Jul Retail Sales Ex Gas/Autos (MoM) 1.1% previous
•12:30 Canada Foreign Securities Purchases by Canadians 10.65B previous
•12:30 US Jul Retail Control (MoM) -0.1% forecast, 1.1% previous
•13:15 US Jul Industrial Production (YoY) 0.5% forecast, 0.4% previous
•13:15 US Jul Capacity Utilization Rate 75.7% forecast, 75.4% previous
•13:15 US Jul Industrial Production (YoY ) 9.80% previous
•14:00 US Aug NAHB Housing Market Index 80 forecast, 80 previous
•14:00 US Jun Business Inventories (MoM) 0.8% forecast, 0.5% previous
•14:00 US Jun Retail Inventories Ex Auto 0.6% previous
•15:00 New Zealand GlobalDairyTrade Price Index -1.0% previous
Looking Ahead - Events, Other Releases (GMT)
•17:30 US Fed Chair Powell Speaks
Fxbeat
EUR/USD: The euro dipped against dollar on Tuesday as market sentiment was rattled by concerns over China’s regulations for its once-freewheeling internet sector and a worldwide spike in COVID-19 infections driven by the Delta variant. Amid signs that the world’s economic recovery is losing momentum, the continued spread of new COVID-19 variants and the impact on the global economy have also shaken market confidence. Immediate resistance can be seen at 1.1798(38.2%fib), an upside break can trigger rise towards 1.1854(50%fib).On the downside, immediate support is seen at 1.1729 (23.6%fib), a break below could take the pair towards 1.1700 (Lower BB)
GBP/USD: Britain’s pound hits its lowest level in three weeks against the dollar on Tuesday as weakening risk sentiment weighed on global stock markets, hitting risk-correlated currencies. The market mostly overlooked positive jobs data. As Britain’s economy extended its recovery, payrolls rose by 182,000 in July to 28.9 million, data showed - 201,000 shy of the level seen before the COVID-19 pandemic hit in March 2020. The pound hit its weakest level since July 27 at 0707 GMT, falling 0.3% on the day to $1.3787. Immediate resistance can be seen at 1.3855(38.2%fib),an upside break can trigger rise towards 1.3919 (50%fib).On the downside, immediate support is seen at 1.3779(23.6%fib), a break below could take the pair towards 1.3727(Lower BB).
USD/CHF: The dollar declined against the Swiss franc on Tuesday pressured by global market uncertainty over the spread of coronavirus infections driven by the Delta variant and weak economic data from China and the United States. Markets were in the red for a second day running as an unexpectedly weak set of Chinese economic data along with unrest in Afghanistan and other factors weighed on appetite for riskier assets. At 11:00 GMT, the dollar was trading 0.11 percent lower versus the Swiss franc at 0.9112.Immediate resistance can be seen at 0.9140 (38.2%fib), an upside break can trigger rise towards 0.9184 (23.6%fib).On the downside, immediate support is seen at 0.9099(50%fib), a break below could take the pair towards 0.9063 (61.8%fib).
USD/JPY: The dollar held near recent lows against the Japanese yen on Tuesday as market sentiment was dampened by a further spike in Delta variant-related COVID-19 cases and uncertainty following the Taliban’s seizure of power in Afghanistan. Investors were also monitoring turmoil in Afghanistan, where thousands of civilians desperate to flee the country thronged Kabul airport after the Taliban seized the capital and declared the war against foreign and local forces over. Strong resistance can be seen at 109.28(50%fib), an upside break can trigger rise towards 109.53(38.2%fib).On the downside, immediate support is seen at 109.06(61.8%fib), a break below could take the pair towards 108.92(Lower BB).
Equities Recap
European stocks fell to their lowest in a week on Tuesday as a spike in COVID-19 cases in Asia and elsewhere raised fears of a slowdown in global economic growth.
At (GMT 11:05),UK's benchmark FTSE 100 was last trading up at 0.12%percent, Germany's Dax was down by 0.23 %percent, France’s CAC finished was down by 0.53% percent.
Commodities Recap
Gold extended its winning streak to a fifth session on Tuesday, supported by a drop in U.S. bond yields and worries that a spike in the COVID-19 Delta variant cases could hinder a recovery in the global economy.
Spot gold was up 0.4% at $1,793.85 per ounce by 0906 GMT, after hitting a peak since Aug. 6 in the session.U.S. gold futures rose 0.4% to $1,796.
Oil prices fell on Tuesday, with both contracts heading for a fourth straight session of losses, weighed down by a weak demand picture in Asia and OPEC and its allies saying the market does not need more crude.
Brent crude was down 26 cents, or 0.3%, at $69.25 per barrel as of 0918 GMT, after rising as high as $69.77 earlier in the session.
U.S. West Intermediate crude (WTI) slid 31 cents, or 0.4%, to $66.98 a barrel, after reaching $67.66 earlier.