Posted at 06 January 2023 / Categories Market Roundups
Market Roundup
• German Nov Retail Sales (MoM) 1.1%, 1.0% forecast, -2.8% previous
• German Nov Retail Sales (YoY) -5.9%, -2.8% forecast, -5.0% previous
• UK Dec Halifax House Price Index (MoM) -1.5%, -2.3% previous
• German Nov Factory Orders (MoM) -5.3%, -0.5% forecast, 0.8% previous
• UK Dec Halifax House Price Index (YoY) 2.0%, 4.7% previous
•Swiss Nov Retail Sales (YoY) -1.3%, -2.5% previous
•French Nov Consumer Spending (MoM) 0.5%, 1.0% forecast, -2.8% previous
•UK Dec Construction PMI 48.8,49.6 forecast, 50.4 previous
•EU Dec CPI (YoY) 9.2%,9.7% forecast, 10.1% 10:00 previous
•EU Nov Retail Sales (MoM) 0.8%, 0.5% forecast, -1.8% previous
•EU Nov CPI (MoM)-0.3%, 0.8% forecast, -0.1% previous
•EU Core CPI (YoY) 5.2%, 5.0% forecast, 5.0% previous
• EU Core CPI (MoM)0.6%,-0.1% forecast, 0.0% previous
• EU Nov Retail Sales (MoM) 0.8%, 0.5% forecast, -1.8% previous
• EU CPI (MoM) -0.3%,0.8% forecast, -0.1% previous
• EU Core CPI (YoY) 5.2%, 5.0% forecast, 5.0% previous
• EU Core CPI (MoM) 0.6%, -0.1% forecast, 0.0% previous
Looking Ahead - Economic data (GMT)
•13:30 Canada Dec Part Time Employment Change -40.6K previous
•13:30 Canada Dec Full Employment Change 50.7K previous
•13:30 US Dec Average Hourly Earnings (MoM) 0.4% forecast, 0.6% previous
•13:30 Canada Dec Private Nonfarm Payrolls 180K forecast, 221K previous
•13:30 US Dec Manufacturing Payrolls 10K forecast, 14K previous
•13:30 US Dec Nonfarm Payrolls 200K forecast ,263K previous
•13:30 US Dec Government Payrolls 42.0K previous
•13:30 Canada Dec Unemployment Rate 5.2% forecast ,5.1% previous
•13:30 Canada Dec Participation Rate 64.8% previous
•13:30 US Dec Average Weekly Hours 34.4 forecast , 34.4 previous
•13:30 US Dec Unemployment Rate 3.7% forecast , 3.7% previous
•13:30 Canada Dec Employment Change 8.0K forecast ,10.1K previous
•13:30 US Dec Average Hourly Earnings (YoY) (YoY) 5.0% forecast ,5.1% previous
•13:30 US Dec Participation Rate 62.1% previous
•13:30 US Dec U6 Unemployment Rate 6.7% previous
•15:00 US Nov Factory orders ex transportation (MoM) 0.8% previous
•15:00 US Nov Durables Excluding Transport (MoM) 0.2% previous
•15:00 US Nov Durables Excluding Defense (MoM) -2.6% previous
•15:00 US Dec ISM Non-Manufacturing Employment 51.5 previous
•15:00US ISM Dec Non-Manufacturing Prices 70.0 previous
•15:00 US Dec ISM Non-Manufacturing New Orders 56.0 previous
•15:00 US Dec ISM Non-Manufacturing Business Activity 59.5 forecast ,64.7 previous
•15:00 US Nov Factory Orders (MoM) -0.8% forecast ,1.0% previous
•15:00 US Dec ISM Non-Manufacturing PMI 55.0 forecast ,56.5 previous
•15:00 Canada Dec Ivey PMI 51.0 forecast ,51.4 previous
•15:00 Canada Dec Ivey PMI n.s.a 51.5 previous
•18:00 U.S. Baker Hughes Oil Rig Count 621 previous
•18:00 U.S. Baker Hughes Total Rig Count 779 previous
Looking Ahead - Economic events and other releases (GMT)
•16:15 US Fed Governor Cook Speaks
•16:15 EU ECB's Lane Speaks
•16:15 US FOMC Member Bostic Speaks
•17:15 US FOMC Member Barkin Speaks
•20:30 US FOMC Member Bostic Speaks
Fxbeat
EUR/USD: The euro declined on Friday as dollar strengthened ahead key U.S. jobs data that could offer more clarity on the Federal Reserve's interest rate-hike path. Investors will be looking at nonfarm payrolls report due later on Friday, with economists polled by Reuters forecasting the U.S. economy to have added 200,000 jobs in December. The greenback has hovered near an almost one-month high in early trade after U.S. economic data on Thursday highlighted a tight labour market that could keep the Fed on its aggressive tightening policy path. The euro inched down 0.1% to a one-month low of $1.0497, having dropped 0.8% in the previous session. Immediate resistance can be seen at 1.0566(5DMA), an upside break can trigger rise towards 1.0655(23.6%fib).On the downside, immediate support is seen at 1.0470(38.2%fib), a break below could take the pair towards 1.0488(Lower BB).
GBP/USD: Sterling fell on Friday against the dollar as Britain’s darkening economic outlook remained at the forefront of traders’ minds. British construction activity fell last month at its sharpest rate since May 2020, a survey showed, as new orders dried up in the face of rising interest rates and broader cost pressures.Data from mortgage lender Halifax showed British house prices slid again in December. Market focus is now on the U.S. non-farm payrolls report from the Labour Department, due at 1330 GMT. Sterling was 0.5% lower at $1.1844, its lowest level in over six weeks. Immediate resistance can be seen at 1.1973(5DMA), an upside break can trigger rise towards 1.2110(Dec 28th high),On the downside, immediate support is seen at 1.1836(38.2% fib), a break below could take the pair towards 1.1756 (Lower BB).
USD/CHF: The dollar rose sharply against the Swiss franc on Friday as traders were looking ahead to the U.S. labor department’s closely watched employment report due for release at 1330 GMT. Economists predict 200,000 workers were added to non-farm payrolls in December, which would mark the slowest pace of growth in two years. Focus for investors will likely be more intense on measures of wage inflation, as this is a gauge that Federal Reserve policymakers are monitoring. At ( GMT 12:11),greenback gained 0.49% versus the Swiss franc to 0.9401.Immediate resistance can be seen at 0.9412 (Higher BB), an upside break can trigger rise towards 0.9445(38.2%fib).On the downside, immediate support is seen at 0.9350(38.2%fib), a break below could take the pair towards 0.9296(9DMA).
USD/JPY: The dollar rose against Japanese yen on Friday after U.S. economic data highlighted a still-tight labour market that could keep the Federal Reserve on its aggressive rate hike path.The number of Americans filing new claims for jobless benefits dropped to a three-month low last week while layoffs fell 43% in December, data on Thursday showed.A separate report also revealed that private employment increased by 235,000 jobs last month, far exceeding expectations for a 150,000 increase. The market’s focus shifts to the U.S. Labor Department’s closely watched nonfarm payrolls (NFP) data due at 1330 GMT. Strong resistance can be seen at 134.77(38.2%fib), an upside break can trigger rise towards 135.00(Psychological level).On the downside, immediate support is seen at 132.77(11DMA), a break below could take the pair towards 132.38(23.6%fib).
Equities Recap
European shares were poised for their best week in eight, even though the benchmark index struggled for momentum on Friday as investors awaited U.S. jobs figures for more clues on the pace of future interest rate hikes..
At (GMT 12:13),UK's benchmark FTSE 100 was last trading higher at 0.26 percent, Germany's Dax was down by 0.07 percent, France’s CAC was trading up by 0.29percent.
Commodities Recap
Gold prices inched higher on Friday after a sharp drop in the previous session, even as the dollar firmed ahead of a closely watched U.S. jobs report that could offer more clarity on the Federal Reserve's interest rate-hike path.
Spot gold was up 0.1% at $1,834.79 per ounce, as of 1008 GMT, after falling 1.1% on Thursday. Prices have gained about 0.6% so far this week.U.S. gold futures were steady at $1,839.70.
Oil prices edged higher on Friday on hopes of a Chinese demand boost, but the broader global economic outlook kept crude benchmarks on course for a weekly decline.
Brent crude futures rose 56 cents, or 0.71%, to $79.25 a barrel by 1009 GMT.U.S. West Texas Intermediate crude futures were up 60 cents, or 0.81%, at $74.27.