> US July PPI +0.8% y/y vs +0.7% expected <!--> Adam Button Friday, 11/08/2023 | 12:30 GMT-0 11/08/2023 | 12:30 GMT-0 --> <!--> Prior was +0.1% y/yPPI final demand m/m +% vs +0.2% y/y expectedPrior was +0.1% m/m ADVERTISEMENT - CONTINUE READING BELOW...
US PPI is coming up next
Happy Friday.The July producer price index is due at the bottom of the hour and might be a minor market mover. The consensus is +0.7% y/y on the headline and +2.3% y/y on core.At 10 am ET, the August US consumer sentiment report from the University of Michigan is due...
Oil Update: OPEC Monthly Report Points to Tighter Oil Market, Cuts Continue
Oil (WTI, Brent Crude) AnalysisOPEC’s demand forecast suggests tight oil market into year endBrent crude oil pulls back from resistance as bullish momentum subsidesWTI crude oil tests trendline support on latest dipThe analysis in this article makes use of chart...
The Convergence of Bitcoin Wallets & FX Trading: A Gateway to Expanded Financial Horizons
In recent years, the global financial landscape has witnessed an unprecedented convergence of traditional forex trading and the burgeoning world of cryptocurrencies, with Bitcoin taking the lead. As a result, the role of a Bitcoin wallet has become increasingly...
ForexLive European FX news wrap: Sterling gains on UK GDP beat, markets quiet
Headlines:Markets:GBP leads, NZD lags on the dayEuropean equities lower; S&P 500 futures flatUS 10-year yields up 2.2 bps to 4.103%Gold up 0.3% to $1,918.65WTI crude up 0.6% to $83.33Bitcoin down 0.1% to $29,392It was a quiet session as we observed yet another...
Tough week for gold amid higher bond yields
As bond markets puked yesterday, it validated the drop in gold this week amid a firmer dollar as well. Gold may be up 0.3% today (at least for now) but is still down 1.3% on the week and set for its worst performance since mid-June. Looking at the chart:Gold (XAU/USD)...
Indices Little-Changed After Post-US CPI Volatility
Article by IG Chief Market Analyst Chris BeauchampFTSE 100, DAX 40, Dow Jones Charts and AnalysisFTSE 100 aiming to move above 7600The index managed to push its way above 7600 yesterday but was unable to hold these gains. A reversal below 7540 and the 50-day SMA...
The light optimism begins to fade in equities once again
S&P 500 futuresThings are starting to turn in the equities space now as the selling since the turn of the month continues to stay the course. The turnaround and late dip in Wall Street yesterday certainly did break a lot of the confidence after the US CPI report...
Chia July M2 money supply +10.7% vs +11.0% y/y expected
Prior +11.3%New yuan loans ¥345.9 billion vs ¥800.0 billion expectedPrior ¥3.05 trillionThe slowdown in broad money growth in China continues with new yuan loans also dipping after the huge surge at the end of Q2. Beijing has a tough task in trying to balance out...
Eurozone Inflation Outlook Remains Uncertain
Eurozone inflation may have come down again in July, but as the ECB flagged in its latest economic bulletin, the outlook for inflation remains highly uncertain, as does the outlook for growth. Wage growth remains high, and while longer inflation expectations have...
IEA lowers forecast for oil demand growth for next year
World oil demand hit a record 103 mil bpd in JuneAugust could yet see another peak in demand2024 global oil demand growth forecast revised down to 1 mil bpd (previously 1.15 mil bpd)If OPEC+ current targets are maintained, oil inventories could draw by 2.2 mil bpd in...
Market Update – August 11 – CPI figure results in a rollercoaster day, UK GDP beats, Yen tumbles
Let’s start with the data that just came out this morning: In the UK we had some nice surprises, with GDP (+0.2% q/q vs flat exp., +0.4% y/y vs +0.2% exp.), industrial and manufacturing production beating across the board. The Pound is up and the best performer...
AUD/USD Technical Outlook: Further Pain in Store for the Aussie Dollar?
AUDUSD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free AUD Forecast Get My Guide Most Read: The Reserve Bank of Australia: A Trader’s GuideAUD FUNDAMENTAL BACKDROP, CHINA CONCERNS GROWThe Australian Dollar is attempting to snap a three-day losing...
Tickmill Announces New ‘Trade More, Get More’ Rebate Promotion!
Tickmill, a leading multi-asset broker, introduced its latest rebate campaign, ‘Trade More, Get More’, to reward its clients for their loyalty and efforts. The promotion is designed to offer traders the possibility to make the most of Tickmill’s excellent trading...
FX option expiries for 11 August 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.They are all pertaining to EUR/USD and lie between 1.0950 to 1.1000, so that is likely to keep price action more limited during the session before rolling off later today. It's a quiet on in markets...
Spain July final CPI +2.3% vs +2.3% y/y prelim
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
France July final CPI +4.3% vs +4.3% y/y prelim
Prior +4.5%HICP +5.1% vs +5.0% y/y prelimPrior +5.3%This just reaffirms that French inflation pressures are starting to cool but it is still well above the 2% desired target. We'll see if the trend can keep up in the months ahead but for now, the ECB can take heart in...
UK June monthly GDP +0.5% vs +0.2% m/m expected
Prior -0.1%The beat here is helping to carry the Q2 GDP figures as well and looking at the breakdown, services contributed 0.16%, production 0.25%, and construction 0.11% on the month. The improvement in the services sector is a positive at least, after having...
UK Q2 preliminary GDP +0.2% vs 0.0% q/q expected
Prior +0.1%GDP +0.4% vs +0.2% y/y expectedPrior +0.2%The pound is up slightly on the numbers here as the June monthly GDP beat is helping to feed into a more positive Q2 picture overall. As a whole, UK GDP is now estimated to be just 0.2% below its pre-pandemic level...
UK GDP on the agenda for today
Markets are settling down after the volatile movements amid the US CPI data yesterday. The bond market puked and that for me is the key takeaway move, with equities also failing to hold on to gains and reversing lower thereafter. Even if Wall Street did close...