Inflation closed out 2022 in a modest retreat, with consumer prices in December posting their biggest monthly decline since early in the pandemic, the Labor Department reported Thursday. The consumer price index, which measures the cost of a broad basket of goods and services, fell 0.1% for the month, in line with the Dow Jones
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The index attempts a tepid rebound just above 102.00. Investors keep pricing in a 25 bps rate hike by the Fed in February. Advanced Michigan Consumer Sentiment only due later in the docket. The greenback, when tracked by the USD Index (DXY), advances marginally on Friday following a marked drop to the 102.00 neighbourhood in
The EURCHF is up for the 5th day in a row, after bottoming at 0.98327 last Thursday. The high price today has reached 1.00746. Technically, the price moved above the 200 day MA yesterday at 0.99383 and raced higher. Today, the gain is more modest but the pair is still up 0.6% on the day.
I think the Bank of Japan is a much bigger factor in today’s trading than CPI. The fresh hints overnight that the BOJ is getting ready to abandon yield curve control as soon as next week’s meeting sparked a surge in the yen. My strong suspicion is that Japanese bonds are being dumped in favor
Oil rose more than 1% on Thursday supported by optimism over China’s demand outlook and hopes that upcoming inflation data from the United States will point to a slower increase in interest rates. Top oil importer China is reopening its economy after the end of strict COVID-19 curbs, boosting optimism that demand for fuel will
Dollar declines sharply after US data showed consumer inflation slowed notably in December as expected. The development reinforces expectation for Fed to further slowdown tightening in February with a 25bps hike. Yen is so far the strongest one for the day, as lifted by decline in US and European benchmark yields. Australian Dollar is leading
A man pumps gas at a gas station in the Brooklyn borough of New York, the United States, Dec. 13, 2022. Michael Nagle | Xinhua News Agency | Getty Images December’s monthly decline in the consumer price index gets the Federal Reserve a step closer to beating inflation, though they’re highly unlikely to signal an
In this article AAL Follow your favorite stocksCREATE FREE ACCOUNT American Airlines shares were up more than 8% in afternoon trading on Thursday after the carrier hiked its revenue and profit estimates for the fourth quarter thanks to strong demand and high fares. Other airlines’ shares also rallied. American said in a securities filing it
AUD/USD breakout traders target 0.70 the figure and above. Failures to hold in 0.7000 could lead to the capitulation of the bulls. As per the prior analysis, AUD/USD Price Analysis: Distribution could be playing out into US CPI critical event, a thesis for the downside was illustrated leading up to the US Consumer Price Index event
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As the clock ticks to the close, the S&P index is trading near the high for the day. The index is up 40.71 points or 1.05% at 3960.17. Looking at the daily chart, recall from last Friday, the price closed back above its 100 day MA for the first time since December 14. ON Monday
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.
Commodity prices — and especially crude oil — will hinge on China’s reopening after Lunar New Year celebrations later this month, according to Goldman Sachs Group Inc. “What is the best reopening play? It is oil,” Jeff Currie, the bank’s global head of commodities research said in a Bloomberg Television interview Wednesday. “What is idled?
At this point so far, Euro is the strongest one for the week, while Swiss Franc is the weakest, thanks to the upside breakout and rally yesterday. Dollar is more on the soft side too but there is still no clear follow through selling after the decline on Monday. Apparently, traders are still holding their
The Bank of Korea (BoK) will hold its Monetary Policy Committee (MPC) meeting on Friday, January 13 at 01:00 GMT and as we get closer to the release time, here are the expectations as forecast by the economists and researchers of five major banks. BoK is expected to hike rates by 25 basis points to