Posted at 02 January 2023 / Categories Market Roundups
Market Roundup
•Sweden Dec Manufacturing PMI 45.9, 45.8 previous
•Spanish Dec Manufacturing PMI 46.4, 46.2 forecast, 45.7 previous
• Italian Dec Manufacturing PMI 48.5,48.5 forecast,48.4 previous
• French Dec Manufacturing PMI 49.2, 48.9 forecast,48.3 previous
•German Dec Manufacturing PMI 47.1,47.4 forecast,46.2 previous
•Greek Dec Manufacturing PMI 47.2, 48.4 previous
•EU Dec Manufacturing PMI 47.8, 47.8 forecast, 47.1 previous
Looking Ahead - Economic events and other releases (GMT)
•French 12-Month BTF Auction 2.628% previous
•French 3-Month BTF Auction 1.714% previous
•French 6-Month BTF Auction 2.352% previous
Looking Ahead - Economic events and other releases (GMT)
• No significant event
Fxbeat
EUR/USD: The euro little changed against dollar on Monday on the first trading day of 2023 as investors remained cautious ahead of German inflation data. The German consumer price index on Tuesday will kick off the release of national inflation data, which culminates in Friday’s euro area harmonised index of consumer prices (HICP). Market participants will also brace for the U.S. FOMC meeting’s minutes due on Wednesday and U.S. non-farm payrolls data, which will be released on Friday. Immediate resistance can be seen at 1.0713(23.6%fib), an upside break can trigger rise towards 1.0731(Dec 15th high).On the downside, immediate support is seen at 1.0665(5DMA), a break below could take the pair towards 1.0634(14DMA).
GBP/USD: Sterling fell on Monday as dollar remained firm in light trading on Monday amid warnings from the International Monetary Fund's managing director that a third of the world will fall into recession in 2023. Investor will focus on this week’s Inflation data from Europe, minutes from the December U.S. Federal Reserve meeting and U.S. labour market numbers for further cues. Markets in the United States, Britain, Ireland, Singapore, Japan, Hong Kong and Australia were shut. Sterling was down 0.35% at $1.2051 . Immediate resistance can be seen at 1.2101(14DMA), an upside break can trigger rise towards 1.2180(21 Dec High),On the downside, immediate support is seen at 1.2044(5DMA), a break below could take the pair towards 1.1996 (38.2% fib).
USD/CHF: The dollar was little changed against the Swiss franc on Monday as investors braced for the new year with worries about a potential recession and the U.S. Fed hiking rates further. The IMF warned on Sunday that for much of the global economy, 2023 is going to be a tough year as the main engines of global growth the United States, Europe and China all experience weakening activity. The dollar index, which measures the value of the greenback against a basket of major currencies, rose by around 0.14% to 103.63 .Immediate resistance can be seen at 0.9258(5DMA), an upside break can trigger rise towards 0.9330(38.2% fib).On the downside, immediate support is seen at 0.9206(23.6%fib), a break below could take the pair towards 0.9172(Lower BB).
USD/JPY: The dollar edged lower against Japanese yen on Monday as sentiment remained fragile on the first trading day of the year. Growth worries persisted as a report showed that Chinese manufacturing contracted at the sharpest pace in almost three years in December. A third of the global economy will experience recession in 2023, head of the International Monetary Fund (IMF) said on Sunday.U.S. employment data, reports on manufacturing and service sector activity along with minutes from the latest meeting of the Federal Reserve would be in focus this week as the U.S. central bank battles inflation. The dollar fell 0.25% to 130.76 against the yen, having hit its lowest levels since August last month. Strong resistance can be seen at 132.38(9DMA), an upside break can trigger rise towards 133.03(38.2%fib).On the downside, immediate support is seen at 130.53(23.6%fib), a break below could take the pair towards 130.09(Lower BB).
Equities Recap
European shares rose in the first trading session of 2023 on Monday, after a rough year marred with fears of a recession as central banks hiked rates globally and the Russia-Ukraine war.
At (GMT 12:50), Euro Stoxx 50 was last trading up at 1.45 percent, Germany's Dax was up by 1.00 percent, France’s CAC finished was up by 1.60 percent.
Bond and stock markets will be closed in the US in observance of the New Year holiday.
Commodities Recap
Oil markets were closed but prices in 2023 are set for small gains, as a darkening economic backdrop and COVID-19 flare-ups in China threaten demand growth and offset the impact of supply shortfalls caused by sanctions on Russia