America’s Roundup: US Dollar Falls for Day 2, Wall Street Rises, Gold Companies, Oil Settles Near 3-Year High Ahead of OPEC + Meeting on October 2, 2021


Market overview

• US August Personal Income (MoM) 0.2%, forecast 0.3%, previous 1.1%

• August real personal consumption in the United States (MoM) 0.4%, previous -0.1%

• US August PCE Price Index (MoM) 0.4%, previous 0.4%

• US PCE Price Index (YoY) 4.3, 4.2 previous

• US personal expenditure in August (MoM) 0.8%, forecast 0.6%, previous 0.3%

• US PCE Core Price Index (YoY) 3.6%, 3.6% forecast, 3.6% previous

• US July GDP (MoM) -0.1%, -0.2% forecast, 0.7% previous

• US manufacturing PMI for September 60.7, previous 60.5

• US Sep ISM Manufacturing PMI 61.1,59.6 forecast, previous 59.9

• US Sep ISM Manufacturing employment 50.2 49.0 previous

• US ISM New Orders Index for September 66.7 66.7 previous

• US consumer sentiment in Sep Michigan 72.8 72.8, 71.0 forecast, previous 71.0

• United States, Sep Michigan, current conditions 80.1, 77.1 previous

• US consumer expectations in September Michigan 68.1 67.1 previous

• US August Dallas Fed PCE 2.80%, 3.20% previous

Future Outlook Economic Data (GMT)

• No data to come

Future prospects – Events, other versions (GMT)

• No significant event

Currency Summaries

EUR / USD: The euro recovered from the previous decline on Friday as the dollar fell, following declines in US Treasury yields as investors posted profits after recent large gains. On the data front, consumer price inflation in the 19 euro-sharing countries accelerated to 3.4% year-on-year in September, from 3% a month earlier, the highest figure since the peak of the global financial crisis in September 2008. The euro was 0.1% higher on Friday at $ 1.1588, but fell about 1.3% during the week, and through a major support around $ 1.16, to hit its lowest levels since July 2020. Immediate resistance can be seen at 1.1608 (38.2% fib), a bullish breakout can trigger a rise towards 1.1638 (50 % fib). On the downside immediate support is seen at 1.1565 (23.6% fib), a break below could take the pair towards 1.1500 (psychological level).

GBP / USD: The British pound reduced its weekly losses on Friday thanks to an afternoon rebound as sentiment improved in global financial markets, lifting risky currencies and encouraging investors to pull back from the dollar refuge. The pound hit its lowest levels of the year earlier this year. week, weakened by Britain’s shortage of truck drivers and soaring energy prices as a hawkish-sounding Federal Reserve and concerns about Chinese growth boosted the greenback. The British pound was last up 0.6% to 1.3552, just above a 9-month low at $ 1.3516. Immediate resistance can be seen at 1.3581 (50% fib), a bullish breakout can trigger a rise towards 1.3641 (61.8% fib). On the downside, immediate support is seen at 1.3508 (38.2% fib), a break below could take the pair towards 1.3424 (23.6% fib).

USD / CAD: The Canadian dollar hit a new seven-month high against its US counterpart on Friday, on pace for a fourth consecutive day of gains as the US dollar remained broadly weak and after data showed a record increase in Canada’s real GDP. produced in June. The loonie was trading up 0.4% to 1.2630 against the greenback, or 79.18 cents US, after trading in a range of 1.2628 to 1.2738. For the week, the currency rose 0.2% even as the greenback posted significant gains against a basket of major currencies. . Immediate resistance can be seen at 1.2683 (38.2% fib), a bullish breakout can trigger a rise towards 1.2712 (higher BB). 1.3535 (61.8% fib).

USD / JPY: The dollar fell against the yen on Friday as investors posted profits after recent large gains, although the decline was seen as temporary. Cautious market sentiment over COVID-19 concerns, swings in China’s growth, and a deadlock in Washington ahead of a looming deadline to lift the US government borrowing limit has bolstered the dollar, considered as a safe haven asset. In afternoon trading, the dollar index slipped 0.3% to 94.046, after gaining 0.8% this week, the biggest weekly gain since late August. Strong resistance can be seen at 111.26 (38.2% fib), a bullish breakout can trigger a rise towards 111.75 (23.6% fib). around 110.61 (10DMA).

Summary of actions

European stocks fell to their lowest level in two months on Friday, as business warnings and data on factory activity highlighted economic headwinds due to supply chain constraints and prices students.

The UK benchmark FTSE 100 closed down 0.84%, the German Dax ended down 0.68%, the French CAC ended the day down 0.04%.

The Dow Jones and S&P 500 swung between gains and losses on Friday, as investors weighed in on Fitch’s warning about the US debt ceiling against drugmaker Merck’s progress in oral drug development COVID-19.

The Dow Jones closed up 1.43%, the S&P 500 1.15%, the Nasdaq 0.82%.

Summary of treasury bills

Traders lowered longer-term U.S. Treasury yields on Friday as they repositioned for the fourth quarter of the year, although fiscal battles in Washington pushed up yields on maturing debt.

The benchmark 10-year rate lost 5 basis points to 1.4771%.

Summary of commodities

Gold edged higher on Friday as the dollar weakened and concerns about rising inflation and risks to growth thwarted bets on looming interest rate hikes, keeping bullion on target. way for a small weekly gain.

Spot gold was up 0.1% at $ 1,759.13 an ounce at 1:47 p.m. EDT (5:47 p.m. GMT). US gold futures were up 0.1% to $ 1,758.4.

Oil stabilized above $ 78 a barrel on Friday, just short of a three-year high reached earlier this week, based on expectations that OPEC ministers will maintain a steady pace for increase the supply.

Brent crude rose 97 cents, or 1.2%, to $ 79.28 in its fourth weekly rise. US West Texas Intermediate (WTI) rose 85 cents to $ 75.88 in a sixth week of earnings.

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