Posted at 09 December 2021 / Categories Market Roundups
Market Roundup
•Gemran Oct Current Account Balance n.s.a 15.4B forecast, 19.6B previous
•German Oct Imports (MoM) 5.0%, 0.4% forecast ,0.1% previous
•German Oct Trade Balance 12.5B,13.4B forecast , 13.2B previous
•Irish Nov CPI (MoM) 0.6%, 0.7% previous
•Irish Nov HICP (YoY) 5.4%,5.1% previous
•Irish Nov HICP (MoM) 0.6%, 0.8% previous
Looking Ahead - Economic Data (GMT)
• Russia Central Bank reserves (USD) 619.8B previous
•13:30 US Initial Jobless Claims 215K forecast, 222K previous
•13:30 US Jobless Claims 4-Week Avg 238.75K previous
•13:30 US Continuing Jobless Claims 1,900K forecast,1,956K previous
•13:30 US Wholesale Inventories (MoM) 2.2% forecast, 2.2% previous
•15:00 US Oct Wholesale Trade Sales (MoM) 1.0% forecast, 1.1% previous
•15:30 US Natural Gas Storage -54B, -59B previous
Looking Ahead - Economic events and other releases (GMT)
• No significant events
Fxbeat
EUR/USD: The euro dipped against dollar on Thursday as worries about the new coronavirus variant weighed on sentiment, while investors focus shifted to the release of U.S. inflation data on Friday and next week’s central bank policy meetings. The euro was 0.2 lower at $1.1319 at 0915 GMT, still close to one-week high touched in the previous day. Immediate resistance can be seen at 1.1370(38.2% fib), an upside break can trigger rise towards 1.1390 (30 DMA).On the downside, immediate support is seen at 1.1289 (38.2%fib), a break below could take the pair towards 1.1190(23.6% fib).
GBP/USD: Sterling dipped against the dollar on Thursday as British Prime Minister Boris Johnson imposed tougher COVID-19 restrictions in England, ordering people to work from home, wear masks in public places and use vaccine passes.The spread of the new variant and subsequent imposition of those restrictions lowered expectations that the Bank of England will raise interest rates in the near term, which had bolstered the pound against the dollar in recent months. Prior to Wednesday's announcement of the new curbs, market watchers had seen the central bank lifting rates as soon as next week. Immediate resistance can be seen at 1.3249 (38.2%fib), an upside break can trigger rise towards 1.3311 (61.8%fib).On the downside, immediate support is seen at 1.3185(38.2%fib), a break below could take the pair towards 1.3110 (23.6%fib).
USD/CHF: The dollar strengthened against the Swiss franc on Thursday as hopes some COVID-19 vaccines might be able to neutralise new coronavirus variant Omicron stabilized dollar. Some of the fears around the Omicron variant ebbed after BioNTech and Pfizer said three shots of their COVID-19 vaccine neutralised it in a laboratory test. The U.S. dollar, against a basket of currencies, edged 0.15% higher to 96.082, some way from the 16 month high of 96.938 touched in November. At (GMT 12:16), Greenback gained 0.20% versus the Swiss franc to 0.9720. Immediate resistance can be seen at 0.9230(38.2%fib), an upside break can trigger rise towards 0.9252 (Dec 8th high).On the downside, immediate support is seen at 0.9191 (50%fib), a break below could take the pair towards 0.9156(61.8%fib).
USD/JPY: The dollar dipped against the Japanese yen on Thursday as greenback struggled to regain gain traction against yen as investors waited for a key Federal Reserve policy meeting due next week. Expectations of U.S. tapering had helped the dollar index rise to over a year high in late November, before Omicron's emergence sent it lower. Investors' focus now turns to Friday's U.S. Consumer Price Index (CPI) report, which could influence the Fed's policy decision in its Dec. 14-15 policy meeting. CPI inflation data due Friday could also have an effect on the Fed's decision. Strong resistance can be seen at 113.94 (23.6%fib), an upside break can trigger rise towards 114.52 (Nov 19th high).On the downside, immediate support is seen at 113.32 (38.2%fib), a break below could take the pair towards 112.83 (50%fib).
Equities Recap
European shares ticked up on Thursday as positive comments from vaccine makers allayed some fears around the Omicron variant of the coronavirus, while Deutsche Bank slipped after a report that it might have violated a criminal settlement.
At (GMT 11:15),UK's benchmark FTSE 100 was last trading down at 0.14%percent, Germany's Dax was down by 0.22 %percent, France’s CAC finished was down by 0.09% percent.
Commodities Recap
Gold prices were listless on Thursday as investors held off making big bets ahead of U.S. inflation data this week, which is expected to set the tone for the Federal Reserve's strategy on interest rate hikes.
Spot gold was flat at $1,781.71 per ounce by 1011 GMT, while U.S. gold futures were down 0.1% to $1,783.40.
Oil prices eased after early gains on Thursday after measures by some governments to slow the spread of the Omicron coronavirus variant, though losses were capped by positive comments from vaccine makers about the efficacy of their jabs.
Brent crude futures fell 47 cents, or 0.6%, to $75.35 a barrel by 1004 GMT after touching a peak of $76.70. U.S. West Texas Intermediate (WTI) crude futures fell 31 cents, or 0.4%, to $72.05 after a session high of $73.34.