Author: FX
The markets are expecting a further slowdown in China’s consumer AND producer prices growth in July! Will it lead to concerns over the economy’s growth? Or will weaker price pressures inspire speculation of more concrete government stimulus, potentially supporting asset prices ahead? Event in Focus: China Consumer Price Index (CPI) and Producer Price Index (PPI) for July 2023 When Will it Be Released: August 9, 2023 (Wednesday), 1:30 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Headline CPI m/m: +0.2% forecast vs. -0.2% previous Headline CPI y/y: -0.5% forecast vs. 0.0%…
EUR/USD FORECASTEUR/USD begins the week on the back foot, following disappointing economic data in Europe and rising U.S. Treasury yieldsVolatility, however, is limited, with many traders on the sidelines ahead of Thursday’s U.S. inflation report, which could be critical for the U.S. dollarThis article also discusses key EUR/USD technical levels to watch in the coming sessions Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Gold and Silver Price Forecast: XAU/USD & XAG/USD at Mercy of US Inflation DataThe euro was modestly softer against the…
Share: The US jobs market begins to cool down, but Average Hourly Earnings flash inflation risks tilted upside. BoJ retains a dovish yield curve policy, with the majority advocating for the preservation of the existing monetary policy. US CPI data eyes on August 10, estimates lie at 3% YoY, while the core is expected to drop to 4.7% YoY. USD/JPY advanced sharply during Monday’s North American session as the greenback strengthened amid a risk-on impulse following last week’s mixed US jobs data. Hawkish comments over the weekend by a Fed official sponsored the greenback advance. The USD/JPY is…
Easterly Government Q2 Earnings Preview Source link
© Reuters. Yellow Corp Bankruptcy: A Glimpse into the Decline of a U.S. Trucking Giant U.S. trucking company Yellow Corp YELL has announced its decision to file for Chapter 11 bankruptcy and consequently wind down its operations, amidst challenges posed by increasing debts and intense contract discussions with the Teamsters Union. The decision impacts nearly 30,000 employees during a time when the freight sector is experiencing declining volumes. Established as a vital player in the “less-than-truckload” domain, Yellow catered to a broad clientele that spanned large retailers such as Walmart (NYSE:.N) and Home Depot (NYSE:.N), manufacturers, and Uber (NYSE:) Freight.…
RAND TALKING POINTS & ANALYSISLess aggressive Fed speak unable to deter ZAR selloff.Investors look towards low-risk assets, weighing negatively on the rand. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter USD/ZAR FUNDAMENTAL BACKDROPThe rand’s downside has moderated since Friday after the miss on Non-Farm Payroll (NFP), resulting in markets pricing in a higher probability for another Fed rate pause. In early European trade the US dollar reversed much of it’s weakness but has since slipped due to dovish remarks from the Fed’s Williams (New York) while…
Goldman Sachs head of commodities research Jeff Currie announced his retirement today.The 56-year-old is probably the most well-known commodities forecaster. He rose to fame with his commodities supercycle call in 2004 and dusted off that playbook again in 2021.Most recently, Goldman revised its global oil demand forecast for the year higher based on a less pessimistic growth outlook and maintained its 12-month Brent price projection of $93/bbl.Currie was also a co-author of the widely-seen research note saying ‘copper is the new oil’ in 2021.”Moving the global economy toward net zero emissions remains a core driver of the structural bull market…
In forex trading, there is only one thing you are in control of: yourself. Markets can move this way and that, you can score some winning trades, and you may wind up losing some of your trades, but the bottom line is that the amount you win or lose is still under your control. Research and analysis play important roles in coming up with good trade ideas, of course, but there will always be those market-shocking events that happen out of the blue. This is where preparation and proper trade execution becomes crucial to reduce your potential losses from unexpected…
Share: Despite the news from Fitch, over the past week, Greenback had been performing well, as it was the best performing G10 currency ahead of the release of the softer-than-expected US July payrolls. Economists at Rabobank analyze USD outlook. USD to remain more focused on monetary policy and the relative strength of US growth Fitch’s decision to downgrade the US credit rating has turned attention to next week’s Treasury supply though the USD’s safe haven appeal suggests that impact from the Fitch decision is likely to be limited. Fed policy remains in the driving seat. While we expect…
OIL PRICE FORECAST: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: What is OPEC and What is Their Role in Global Markets?Oil prices finished last week strong as a weaker US Dollar on Friday helped keep prices supported. Oil seemed to be destined for a retracement last week before comments of a Saudi extension on its production cuts kept market participants on edge.SAUDI ARAMCO PRODUCTION CUTS, US EXPORTS SURGEThis morning we heard comments CEO Amin Nasser who stated that they still have significant supply…