Author: FX
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…
Trend reversal strategies are a viable way to earn consistent profits from the forex market over the long run. It offers traders the opportunity to win big in a single trade. Trend reversal strategies are the type of strategies that could produce huge risk-reward ratios in a single trade. This is because trend reversal strategies produce trade setups that attempt to catch a trade as it reverses while hoping to exit the trade near the end of the trend. Open ended trend reversal trade setups allow traders to have unlimited profit potential while at the same time limiting the risk…
Stock market sentiment remains supported ahead of the US inflation report, with markets starting to look past the current wave of tightening moves and buying into hopes that final rates will be reached sooner rather than later this year. Yields have come down and stocks are benefiting. Australia and New Zealand bonds bounced today with yields stabilizing after being pushed up by stronger than expected local inflation data yesterday. The USDIndex is tumbling, between 102.60-103.20 for a 3rd consecutive day. EUR – rallied to 7-month low to 1.0777. JPY – got a boost today on…
Avalanche (AVAX/USD) just broke above a key resistance on the daily time frame! Can the token sustain its upswing? Or are we seeing a fakeout? Avalanche (AVAX/USD) Daily Chart by TradingView Like most cryptocurrencies, Avalanche’s token AVAX received a boost from risk-taking yesterday. AVAX/USD, which had been consolidating under 12.00, jumped 25% higher and is now trading near the 16.00 zone. But can the token sustain its upswing? The fundamentals are on the bulls’ side after Avalanche’s developer Ava Labs announced its partnership with Amazon Web Services (AWS). Word around is that Ava Labs will offer “Subnet deployment” as a…
It’s all about the US CPI data today but this is a market that is wanting a softer number, if the recent dollar and risk mood is anything to go by. EUR/USD is staying more tentative upon its latest breakout attempt above 1.0700 with AUD/USD also cautious in making its way towards the 0.7000 mark. Meanwhile, the S&P 500 has steadily climbed up to be within range of its 200-day moving average and key trendline resistance once again:The question now is, will the inflation numbers help kick those plays into second gear as the new year gets underway?What are your…
In the opinion of UOB Group’s Economist Lee Sue Ann and Market Strategist Quek Ser Leang, extra upside in EUR/USD is expected to clear the 1.0785 level in the next few weeks. Key Quotes 24-hour view: “We expected EUR to ‘trade between 1.0700 and 1.0760’ yesterday. However, EUR edged to a high of 1.0776 before closing at 1.0755 (+0.20%). Upward momentum has improved a tad and EUR is likely to trade with an upward bias. That said, it remains to be seen if EUR can maintain a foothold above the major resistance at 1.0785 (there is another resistance at 1.0820).…