If you compare it to the moves yesterday, it isn't much. EUR/USD is down 0.3% to 1.0847 and GBP/USD down 0.3% to 1.2460 currently. The latter owes to softer UK inflation data earlier, though it also comes amid a push back after running against the 1.2500 mark and near...
Market Update – November 15 – Technicals & FOMO adding to the moves
A strong close on Wall Street was followed by a broad rally across Asian markets. An unexpected slowdown in US inflation boosted bets that the Fed’s tightening cycle is over, which brought down yields and benefited equity markets. UK inflation numbers this...
U.S. Treasuries: from safe haven to risky asset
Last week, Moody's downgraded the U.S. credit rating from stable to negative, citing high budget deficits, deteriorating debt affordability and political polarization.It's a little strange that they are just now realizing this, isn't it?The problems mentioned arose...
Italy October final CPI +1.7% vs +1.8% y/y prelim
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Specific monetary policy up to BOJ to decide, says Japan deputy finance minister
Expects BOJ to conduct policy appropriatelyThis is all fluff at the moment, as it is evidently clear that the BOJ and Tokyo officials are prepping for a turn in monetary policy after we get to the spring wage negotiations in March next year. The question is, with all...
AUD/USD on the cusp of a stronger technical breakout after yesterday’s jump
The jump higher in the pair owes much to the dollar plummeting in trading yesterday but we work with what is given to us. And in the case of AUD/USD, it now presents the opportunity to catch a break above the 0.6500 mark and onwards to a stronger technical breakout....
European stocks edge higher with UK leading the way, US data awaited
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France October final CPI +4.0% vs +4.0% y/y prelim
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Japan visitors in October exceed pre-Covid levels
That's good news for the Japanese economy but a lot of it is also helped by a much weaker currency, which makes Japan a more attractive tourist destination these days. The number of visitors in October reached 2.52 million, marking a full recovery for the first time...
We must stay the course to continue to get inflation down to 2% – Sunak
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Germany October wholesale price index -0.7% vs +0.2% m/m prior
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UK October CPI +4.6% vs +4.8% y/y expected
Prior +6.7%CPI 0.0% vs +0.1% m/m expectedPrior +0.5%Core CPI +5.7% vs +5.8% y/y expectedPrior +6.1%Core CPI +0.3% vs +0.4% m/m expectedPrior +0.5%The pound is lightly lower on the data here as UK inflation falls more than expected in October. That being said, a lot of...
FX option expiries for 15 November 10am New York cut
There are a couple to take note of, as highlighted in bold.The first ones being for EUR/USD, which are at the 1.0850-75 region. That is likely to keep price action more compact perhaps, all before we get to more US data later in the day. That being said, trading...
BofA Global Research no longer sees another Fed rate hike in December
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UK inflation the notable data release in the session ahead
It is all about the reaction to the US CPI data yesterday and for now, markets are looking calmer so far today. The dollar dropped heavily and may look to be challenged further, with EUR/USD leading the charge as seen here. Meanwhile, equities look poised to extend...
US CPI data sparks market optimism, more data releases in focus later today
The US CPI data yesterday can be characterised more about the reaction rather than the data itself I would say. But if anything else, it shows the kind of bias and positioning that markets are leaning towards at the moment. The relief from all the inflation angst and...
Stocks look poised for a potential retest of the year’s highs
The market took to the US CPI data as saying that the Fed is done with rate hikes and with inflation gradually tracking lower, it means that we could even see rate cuts on the horizon. The shift in pricing here outlines that sentiment and is a key reason why equities...
EUR/USD seeks higher push after yesterday’s surge
EUR/USD daily chartThe dollar suffered quite a heavy meltdown in trading yesterday and there are some key levels to take note of in the charts right now. EUR/USD in particular is seeking a stronger rebound after bottoming out in early October, as it climbed back above...
How have the Fed odds shifted after yesterday’s CPI data?
After a quiet start to the new week, the reaction to the US CPI data yesterday was certainly a banger. The dollar crumbled while stocks rallied hard, with the latter reaffirming the technical breakout from the end of last week. Meanwhile, bonds also rallied strongly...
ForexLive Asia-Pacific FX news wrap: Data deluge day – Australia, Japan, China
The US House of Representatives passed a stopgap funding bill to avert a US government shutdown that’ll now proceed to the Senate, where it is also likely to pass. The Bill contains no spending cuts and sailed easily through the chamber winning 336 to 95:209 Democrats...