Author: FX
PCE REPORT KEY POINTS:May U.S. consumer spending rises 0.1% m-o-m, one-tenth of a percent below expectationsCore PCE climbs 0.3% monthly, bringing the annual rate to 4.6% from 4.7%, also below estimatesU.S. dollar extends losses following weaker-than-forecast spending and core inflation data Recommended by Diego Colman Get Your Free USD Forecast Most Read: Gold Prices Teeter on Brink of Breakdown as US Yields Fly High Following US DataThe U.S. Department of Commerce released this morning income and outlays data from last month. According to the agency, personal consumption expenditures, which make up more than two-thirds of the country’s gross domestic product,…
Share: The US Core PCE annual rate slowed from 4.7% to 4.6% in May. The US dollar weakened modestly after the report. The EUR/USD turned positive for the day after rebounding from two-week lows. The EUR/USD rebounded further after US consumer inflation data and climbed above 1.0880, hitting fresh daily highs, boosted by a weaker US dollar. The greenback pulled back after the report, and commodities and US equities futures rose. The US Bureau of Economic Analysis reported on Friday that inflation, as measured by the change in Personal Consumption Expenditures (PCE) Price Index, fell to 3.8% YoY…
It’s easy to abandon your trading plan in favor of maximizing your wins when the market is going your way and doing it in hyperspeed. But unless you have rock-solid discipline, your wins will be spotty at best. You might even lose your profits to bad trading decisions! Here are points to remember to help you become consistently profitable: 1. Scaling in and out is a risk management tool Scaling into winning positions helps prevent FOMO and helps maximize profits while your trade idea is still valid. Just remember that the more you add to a position, the bigger the…
Castellum announces record revenue of $4.25M in May Source link
Gold Price (XAU/USD) Analysis, Price, and ChartUS PCE print may spark a bout of short-term volatility in the precious metal.Technical support is coming under pressure. Recommended by Nick Cawley How to Trade Gold For all market-moving data releases and events, see the DailyFX Economic CalendarThe recent leg higher in US Treasury yields continues to press down on gold and with rates expected to stay high, or even higher, for longer then the path of least resistance for the precious metal looks lower.Thursday’s robust final Q1 US GDP reading – 2% actual vs 1.4% forecast and 2.6% prior – sent US…
Euro Area Inflation Data Recommended by Richard Snow Trading Forex News: The Strategy Core Inflation Rises Less Than Anticipated While Headline Inflation Cools NicelyCore inflation in the Euro Area rose above last month’s 5.3% print but ended up less than estimates of 5.5%, settling at a marginally higher 5.4%. Headline inflation rose 0.3% month-on-month but came in lower than anticipated at 5.5% and much lower than last month’s figure of 6.1%. The disinflationary trend in headline inflation is unlikely to taper the ECB’s willingness to continue hiking rates due to the issue of core inflation remaining well off target.Customize and…
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, S&P 500 Prices, Analysis, and Charts Recommended by IG Traits of Successful Traders FTSE 100 to open higherThe FTSE 100 continues to underperform its peers as worries about the utility sector, with the potential demise of Thames Water, and higher UK yields weigh on the index. On the back of much stronger-than-expected US GDP data, at 2% in Q1 2023 versus an expected 1.4%, and successful US bank stress test results, US indices helped Asian indices to rise into month and quarter end with European indices opening higher as…
Important for exchange rate to move stably, reflecting economic fundamentalsSharp, one-sided moves are seen recentlyTo take appropriate steps on excessive FX movesThe comments are pretty much a copy and paste, so they’re not going to have much of an impact on markets at this point. But if they do appear to be more aggressive in their wording, that might trigger more profit-taking in yen shorts. Source link
Share: Here is what you need to know on Friday, June 30: June inflation data from the Eurozone and the Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred gauge of inflation, readings from the US will be watched closely by market participants ahead of the weekend. Since this Friday will be the last trading day of June and the second quarter, position adjustments later in the day could ramp up volatility and trigger wild fluctuations. Eurozone Inflation Release: Mixed expectations should keep the Euro supported. During the Asian trading hours, NBS Manufacturing PMI in China improved slightly to…
Japanese Yen, USD/JPY, US Dollar, Fed, BoJ, China PMI, Crude Oil, Gold – Talking PointsThe Japanese Yen remains under pressure after the US Dollar resumed strengtheningThe Fed reminded markets of their intention and yields responded, backed by the dataIf Treasury yields continue North, will it push USD/JPY higher and prompt the BoJ into action? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Japanese Yen slid to its weakest level since November last year in the aftermath of the leaders from the Fed and Bank of…