The UK’s inflation rate turned out to be lower than expected, and the latest GDP figures were disappointing, indicating that the economy was in recession in the latter half of 2023. However, this alone isn’t enough to change the Bank of England’s...
Bond market action not providing much help for the dollar
There was no arguing that the post-CPI surge higher in bond yields was a significant one. 10-year yields broke out of range between 3.80% and 4.20% but ultimately was capped by the 100-day moving average (purple line), now seen at 4.337%.US Treasury 10-year yields (%)...
Investors Continue to Buy Ahead of the US Producer Inflation Release!
UK Retail Sales witnesses its strongest increase since May 2021, but economists advise the increase is simply correcting poor data from previous months. The Pound gains against most currencies, but the currency market has their eyes fixed on the upcoming US Producer...
ECB’s Schnabel: We must be cautious not to adjust policy stance prematurely
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European equities stick with gains to start final trading day of the week
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France January final CPI +3.1% vs +3.1% 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,...
FX option expiries for 16 February 10am New York cut
There are a couple to take note of, as highlighted in bold.The ones for EUR/USD are layered between 1.0700 to 1.0800 with some right in the middle of that. It is likely to keep price action more contained at current levels especially, before the expiries roll off...
AUDUSD Moves Away from Lows
The Australian dollar rallied above 0.6500 against the American dollar, moving away from three-month lows and benefiting from general greenback weakness, as disappointing US retail sales data supported rate cut expectations from the Federal Reserve. US retail sales...
Germany January wholesale price index +0.1% vs -0.6% m/m prior
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UK January retail sales +3.4% vs +1.5% m/m expected
Prior -3.2%; revised to -3.3%Retail sales +0.7% vs -1.4% y/y expectedPrior -2.4%Retail sales (ex autos, fuel) +3.2% vs +1.7% m/m expectedPrior -3.3%; revised to -3.5%Retail sales (ex autos, fuel) +0.7% vs -1.6% y/y expectedPrior -2.1%After a record fall in December,...
GBPUSD Technical Analysis – Key levels in play ahead of the UK Retail Sales
USDThe Fed left interest rates unchanged as expected while dropping the tightening bias in the statement but adding a slight pushback against a March rate cut.Fed Chair Powell stressed that they want to see more evidence of inflation falling back to target and that a...
BOJ’s Ueda reaffirms focus on the outcome of spring wage negotiations
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UK retail sales the highlight of the agenda in the session ahead
The dollar is keeping steadier so far today as yields nudge back a little higher. The US retail sales data yesterday was a setback for the dollar, as traders reversed the post-CPI moves on the week. That said, there are still some mixed signals in broader markets at...
A couple of mixed signals as we look towards the end of the week
In large parts, the post-CPI moves were reversed in trading yesterday. That follows a rather disappointing US retail sales report here. The dollar was dealt a blow as bond yields tumbled but we're sort of at a crossroads now on the week.For one, EUR/USD has already...
BOJ’s Ueda says expects real wages to gradually turn positive
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ECB’s Villeroy: There is still the question of exact timing for rate cut
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ForexLive Asia-Pacific FX news wrap: US yields and dollar rise
US PPI data focus on Friday - the ranges expectedFederal Reserve speakers on Friday include Barkin, Barr and DalyBOJ Ueda says will consider policy move when inflation target conditions metJapan finance minister Suzuki concedes that a weak yen has pros and...
Japan data – December Tertiary Industry Activity Index +0.7% m/m (exp. +0.2%, prior -1.4%)
USD/JPY little moved. Its sitting on top of its session range. The USD has gained small pretty much across the majors board, yields higher helping it along.-The Tertiary Industry Index (AKA the Index of Tertiary Industry Activity) indicates the performance of the...
US PPI data focus on Friday – the ranges expected
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,...
Federal Reserve speakers on Friday include Barkin, Barr and Daly
the CPI data earlier this week was the final nail in the coffin, if another was needed, of a March FOMC rate cut. Incoming clues for this lot later today I suspect:1300 GMT / 0800 US Eastern time: Federal Reserve Bank of Richmond President Thomas Barkin speaks before...