Author: FX
MULN stock drops on lack of bullish surprise from CPI. December inflation on Thursday hit 6.5% YoY, good but what was already expected. Tesla stock has also dropped over 3% on the news. Mullen Automotive stock bounced off the 9-day moving average at $0.36. Mullen Automotive (MULN) stock is trading down on Thursday as inflation data in the form of the Consumer Price Index for December proved in line with estimates rather than providing a bullish surprise. If headline inflation came in well below the 6.5% headline rate, then riskier stocks like Mullen would have outperformed. Instead, the headline rate of…
UK and the Pound – 2023 Outlook This year is expected to be exceptionally challenging for the UK and its economy, with the recovery from the pandemic being overshadowed by a cost of living crisis with low consumer and business confidence, extensive strikes and continuing uncertainty over the war in Ukraine. UK Inflation soared to 11.1% in 2022. The country had a GDP of -0.3% in Q3 2022 and is expected to have a GDP of -1.0% in Q4 2022 which would be the start of a recession that will likely last through 2023 making the country’s long term growth…
IvelinRadkov In the wake of the latest consumer price index report, Treasury yields have come down a bit on Thursday, placing upward support on exchange traded funds that are tied to the moves in the bond market. On Thursday, Wall Street watched the U.S. 10-year Treasury yield (US10Y) decline by 2 basis points to 3.54%. At the same time, the shorter end U.S. 2-year Treasury yield (US2Y) has slipped by 6 basis points to 4.17%, which has a technical significance as the Treasury yield pierced below its 100-day moving average for the first time since August of 2021. As a…
5/5 © Reuters. Yoyo Liang, from mainland China, received a dose of BioNTech bivalent coronavirus disease (COVID-19) vaccine at a private clinic in Hong Kong, China January 12, 2023. REUTERS/Tyrone Siu 2/5 By Joyce Zhou HONG KONG (Reuters) – Scores of mainland Chinese travellers are rushing to Hong Kong to receive mRNA COVID-19 vaccines, which are not available on the Chinese mainland, as the country grapples with a torrent of infections which have overwhelmed its health system. A private hospital in the special Chinese administrative region of Hong Kong welcomed the first batch of mainland customers on Thursday, just five…
US Inflation Meets Expectations on Both MeasuresUS headline CPI (Dec) 6.5% vs prior 7.1%US core CPI (Dec) 5.7% vs 6% priorMarket expectations for a 25 bps hike next month surge from 77% to 95%. S&P shoots higher, USD dips. Recommended by Richard Snow Get Your Free Equities Forecast Customize and filter live economic data via our DailyFX economic calendarFood prices rose 0.3% in December while the energy index declined 4.5%, as energy and gas prices continue to drop at the pumps. The biggest contributor to the index, shelter, contributed 0.8% to the overall monthly change from November.“The index for gasoline…
This was the move in S&P 500 futures in December (for the November release):One month may be a blip but two months of such price action, and there’s certainly something amiss with the report surely. The White House downplayed the potential for a leak last month but if we do see something similar today, suspicions will certainly grow over the integrity of the data.We’re less than an hour away now, so just be mindful of any such moves in the run up to the data in case. This is the biggest report on the economic calendar in markets in this…
GBP/USD Forecast: Pound Sterling to break out of range on US inflation data GBP/USD has extended its sideways grind following Wednesday’s choppy action and was last seen trading at around 1.2150. December inflation data from the US could significantly influence the US Dollar’s valuation and provide a direction clue to the pair in the second half of the day. On Wednesday, the US Dollar failed to stage a rebound as Wall Street’s main indexes continued to push higher after having closed in positive territory on Tuesday. Nevertheless, GBP/USD action remained limited with investors refraining from making large bets ahead of…
Ormat secures financing for Ijen geothermal power plant Source link
GOLD OUTLOOK & ANALYSISMarkets already pricing in weaker U.S. inflation, gold bidU.S. CPI and Fed officials in focus.Bearish divergence could see sharp pullback on daily XAU/USD should inflation remain high. Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL BACKDROPGold is trading higher this morning ahead of the much anticipated U.S. CPI release later today (see economic calendar below). Expectations for both core (the Fed’s preferred measure) and headline inflation are lower compared to the prior November print and considering wage pressures are on the decline, many are looking for it to translate through to CPI. Fed speakers…
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