x
Visit our new Mobile Website next time you access NetDania with your mobile device
Netdania News
America's roundup: Dollar slips to one-week low, Wall street rises, Gold eases, Oil falls on dim OPEC demand outlook, pares gains from gulf of Mexico storm-july 12th,2019

Source FxWire Pro - Media Round Ups Thursday, 11 Jul, 2019 20:54:51 GMT
Back

Market Roundup

• US  w/e Initial Jobless Claims, 209k, 220k forecast, 220k previous

• US  w/e Jobless Claims 4-Wk Avg, 219.25k, 222.50k previous 

• US w/e Continued Jobless Claims, 1.723 mln, 1.685 mln forecast, 1.696 mln previous

• US Jun CPI MM, 0.1%, 0.0% forecast, 0.1% previous

• US Jun CPI YY, 1.6%, 1.6% forecast, 1.8% previous

• US Jun Core CPI YY, NSA, 2.1%, 2.0% forecast, 2.0% previous

• US Jun Core CPI MM, SA, 0.3%, 0.2% forecast, 0.1% previous

• Canada May New Housing Price Index 0.1%, 0.2% forecast 0.2% previous 

• Russia Central Bank Reserves 518.3 B, 517.1 B previous

• US June Federal Budget Balance -8.0B, forecast -6.4B, previous -208.0B

• Oil hits six-week highs a Gulf of Mexico faces storm

• Dollar and U.S. Treasury yields sag after Powell’s comments

• Fed chairman’s remarks revive some bets on aggressive rate cut

Looking Ahead - Economic Data (GMT)

• 22:30 New Zealand NZ Business PMI

•04:30 Japan May Capacity Utilization (MoM)   
• 04:30 Japan Industrial Production (MoM)

Looking Ahead - Events, Other Releases (GMT)

• 14:00 Federal Reserve Bank of Chicago President and Federal Open Market Committee (FOMC) voting member Charles Evans is to speak. His comments may determine a short-term positive or negative trend.

Currency Summaries

EUR/USD: The euro edged higher against the U.S. dollar on Thursday, as outlook remained grim for greenback after Federal Reserve Chair Jerome Powell’s bleak comments on the U.S. economy, which bolstered expectations of an interest rate cut later this month. The dollar, however, trimmed losses against   euro earlier on Thursday after data showed U.S. underlying consumer prices rose 0.3% in June, the most in nearly 1-1/2 years, with solid gains in the costs of a range of goods and service. The euro was up 0.04 percent at $1.1254. An index that tracks the dollar versus a basket of six major currencies was down 0.02 at 97.07. Immediate resistance can be seen at 1.1285 (21 DMA), an upside break can trigger rise towards 1.1322 (July 2nd high).On the downside, immediate support is seen at 1.1240 (50 DMA), a break below could take the pair towards 1.1192 (July 9th low).

GBP/USD: The pound edged higher thanks to broad-based dollar weakness, snapping a recent losing streak, but a weakening economy and Brexit fears kept a firm lid on gains. The British currency had briefly plumbed a two-year low this week at $1.2439  excluding a “flash crash” episode on Jan. 3 when it dropped to as low as $1.2409. On Thursday, it gained 0.21% to $1.2525 after peaking at $1.2571. Though Powell’s dovish tone in congressional testimony on Wednesday helped the British currency recover somewhat, it has fallen 3.7% in the last three months, the losses accelerating as Bank of England Governor Mark Carney this month appeared to signal the possibility of a rate cut. Immediate resistance can be seen at 1.2570 (11 DMA), an upside break can trigger rise towards 1.2607 (21 DMA).On the downside, immediate support is seen at 1.2424 (Lower Bollinger Band), a break below could take the pair towards 1.2400 (Psychological level).

USD/CAD:The Canadian dollar strengthened against its U.S. counterpart on Thursday, approaching last week's eight-month high, as oil prices rose and as the greenback broadly declined following dovish comments by Federal Reserve Chair Jerome Powell. The U.S. dollar was stuck at a five-day low after Powell on Wednesday kept the door open for U.S. interest rate cuts. The price of oil, one of Canada's major exports, rose as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident involving a British tanker in the Middle East highlighted tensions in the region. U.S. crude oil futures were up 0.2% at $60.52 a barrel. At (1253 GMT), the Canadian dollar was trading 0.2% higher at 1.3052 to the greenback. The currency, which last Thursday notched an eight-month high at 1.3038, traded in a range of 1.3042 to 1.3080.Immediate resistance can be seen at 1.3092 (5 DMA), an upside break can trigger rise towards 1.3175 (21 DMA).On the downside, immediate support is seen at 1.3044 (Daily Low), a break below could take the pair towards 1.3000 (Psychological level).

USD/JPY: The dollar weakened against the Japanese yen on Thursday, after Federal Reserve Chairman Jerome Powell bolstered expectations the Fed would cut U.S. interest rates soon. n his first day of testimony before Congress on Wednesday, Powell confirmed the U.S. economy was still under threat from disappointing factory activity, tame inflation and a simmering trade war, and said the Fed stood ready to “act as appropriate”. A strong June U.S. jobs report earlier this month heightened expectations the Fed was more likely to cut by 25 basis points than by 50. But Powell’s cautious stance helped fuel bets on heftier easing at its next policy meeting on July 30-31.The dollar was down 0.1% at 108.44 yen, forced off a six-week high of 108.990 the previous day..Strong resistance can be seen at 108.58 (5 DMA), an upside break can trigger rise towards 108.88 (50 DMA).On the downside, immediate support is seen at 108.06 (21 DMA), a break below could take the pair towards 107.51 (July 3rd low). 

Equities Recap

Europe’s stocks rally faded and global bond yields rose after jitters over corporate earnings and trade doused an early rally fuelled by enthusiasm over Federal Reserve Chairman Jerome Powell cementing rate cut expectations.

UK's benchmark FTSE 100 closed down by 0.28 percent, Germany's Dax ended down by 0.33 percent, France’s CAC finished the day down by 0.28 percent.

U.S. stocks rose on Thursday on improved bets of an interest rate cut following Fed chief Jerome Powell’s dovish remarks, while healthcare stocks were mixed after the Trump administration withdrew a rule that would kill rebates.

Dow Jones closed up by 0.85 percent, S&P 500 ended up by 0.22 percent, Nasdaq finished the down up by 0.08 percent.

Treasuries Recap 

U.S. Treasury yields rose, with the biggest gains in long-dated maturities, after Thursday's auction of $16 billion 30-year bonds met weak demand and U.S. underlying consumer prices recorded their biggest gain in 1-1/2 years.

Indirect bidders, including foreign central banks, took the smallest percentage of a 30-year offering since February 2015. The 30-year yield jumped to a session high following the sale and was last up 7.1 basis points to 2.642%.

Commodities Recap

Gold prices slumped 1% on Thursday, erasing gains posted earlier in the session after stronger-than-expected consumer inflation in the United States cast doubts whether the U.S. central bank will cut interest rates as aggressively as expected.

Spot gold shed 1% to $1,404.40 per ounce as of 1:30 p.m. EDT (1730 GMT), dropping nearly $15 after U.S. consumer prices demonstrated a pick-up in underlying inflation, increasing in June by the most in nearly 1-1/2 years.U.S. gold futures settled 0.4% lower to $1,406.70 per ounce.

Oil prices fell on Thursday as OPEC forecast slower demand for its crude next year, with crude futures easing from their highest in more than a month after U.S. producers cut about half of their output in the Gulf of Mexico ahead of what could be one of the first major storms of the Atlantic hurricane.

Brent crude futures fell 49 cents to settle at $66.52 a barrel. During the session, they hit their highest since May 30 at $67.65 a barrel.

U.S. West Texas Intermediate (WTI) crude futures fell 23 cents to settle at $60.20 a barrel, after hitting their highest since May 23 at $60.94.
 

© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
Find a Top Broker
Global
Forex
27295.40
-12.15
-0.04%
2997.18
-1.68
-0.06%
7917.25
-10.43
-0.13%
10315.71
-317.28
-2.98%
12225.13
-13.96
-0.11%
21371.50
182.02
0.86%
2924.20
23.02
0.79%
7496.10
6.85
0.09%
28775.00
373
1.31%
6700.40
43.9
0.66%
11419.25
-177.65
-1.53%
1436.65
-6.32
-0.44%
62.36
-0.07
-0.11%
1.12326
-0.0028
-0.25%
107.648
0.243
0.23%
1.25287
-0.0014
-0.11%
0.70592
-0.0009
-0.12%
1.30712
0.0036
0.27%
120.91800
-0.033
-0.03%
0.89654
-0.0012
-0.14%
134.86600
0.151
0.11%
0.98125
-0.0014
-0.15%
1.10220
-0.0044
-0.40%
0.67774
0.0001
0.02%
97.02400
0.23
0.24%
Top Gainers
Name
Last
+/-
%
2.14
0.84
64.62%
0.58
0.10
19.79%
0.80
0.14
20.97%
34.71
4.11
13.43%
0.98
0.11
12.66%
2.01
0.23
12.92%
2.52
0.24
10.52%
1.58
0.17
12.06%
20.14
1.62
8.75%
25.53
1.96
8.32%
Top Losers
Name
Last
+/-
%
0.02
-0.04
-60.82%
0.66
-0.20
-23.23%
2.08
-0.51
-19.76%
7.07
-1.63
-18.74%
13.71
-3.12
-18.54%
1.01
-0.14
-12.17%
2.34
-0.29
-11.08%
3.70
-0.43
-10.41%
0.33
-0.04
-10.76%
1.84
-0.24
-11.30%
NetDania does not guarantee the accuracy of data contained on this website, nor do we guarantee that data is real-time. Data on this website may be provided from OTC market sources and market makers, and not necessarily from exchanges. The provided price data is indicative and may not be appropriate for trading or decision making purposes. NetDania does not assume any responsibility for any losses incurred from the use of the provided data.
NetDania does not endorse or promote any broker or financial service. NetDania is a pure technology provider offering its software with broker integration. Any user of NetDania software must be an existing client of one of our supported brokers. NetDania showcases NetDania technology for the purpose of demonstrating it towards brokers and other institutions looking to white label the technology on a software subscription contract. No financial services are offered, promoted or recommended. NetDania is compensated as a technology provider by its institutional clients including its integrated brokers. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation affecting it.

Persons or entities including approved brokers not belonging to the NetDania Group may advertise on the NetDania and its Group’s websites, through links, banners or otherwise. We have not taken any steps to verify the accuracy, quality or reliability of any products, information or services provided by third parties that have links on our website. We accordingly provide no warranties with regard to and disclaim responsibility for any such products, information or services and exclude all liability in this regard to the fullest extent permitted by relevant laws and regulations. If a user of the NetDania Group’s websites decides to act upon any such advertising, such user does so entirely at its own risk.

NetDania’s website may be accessed worldwide. The Information provided on its website is however only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. None of the offerings services referred to on this website are available to recipients residing in countries where the provision of such offerings would constitute a violation of mandatory applicable legislation or regulations. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation.

HIGH RISK INVESTMENT WARNING:
End-users of the NetDania software that make use of the trading integration features as direct clients of integrated brokers, should be aware of the level of risk carried by trading in financial markets. Trading foreign exchange and or other financial instruments on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or more of your initial investment, and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from your broker and or an independent financial advisor if you have any doubts. Anyone opening a live trading account needs to adhere to the laws of their local country as such laws may differ from country to country.
NetDania expressly disclaims any liability for any lost principal or profits which without limitation may arise directly or indirectly from the use of or reliance on information on our website or the use of our software with broker integration.
Copyright © 1998 -2019 NetDania Creations ApS, Kronprinsessegade 36, 1st floor DK-1306 Copenhagen K, Denmark, +4536980409, Contact NetDania by email, CVR-nr.27976670 Terms And Conditions and Privacy Policy