Dollar attempts to rally in early US session after modestly stronger than expected US consumer inflation data. But there is no clear follow through buying. Headline CPI’s bounce back to a 14-month high was slightly above expectations. Meanwhile, core CPI’s monthly reading also beat market forecasts. Yet, it appears that traders are not convinced that
Inflation posted its biggest monthly increase this year in August as consumers faced higher prices on energy and a variety of other items. The consumer price index, which measures costs across a broad array of goods and services, rose a seasonally adjusted 0.6% for the month, and was up 3.7% from a year ago, the
Share: The USD/CNY took a dip back in market action on Wednesday. Bullish momentum remains firm for the Greenback despite defensive posturing in Chinese rhetoric. Emerging markets continue to suffer against advanced economy currencies. The Chinese Yuan (CNY) continues to struggle, with the USD/CNY pair sticking above the 7.2600 level despite slipping lower on Wednesday,
Crude Oil keeps on surging to new highs as the supply side gets squeezed more amid resilient global demand. In fact, the OPEC continues to forecast robust growth for oil demand in 2023 and 2024 while keeping supplies tight as we saw last week with the Saudi Arabia and Russia extending the voluntary supply cuts.
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Gold traded in the red on Wednesday despite weakness in the dollar index (DXY) which hovered around 104.67 against a basket of top six currencies as the Street remained cautious ahead of the US Federal Reserve’s Federal Open Market Committee Meeting (FOMC) which begins on September 19, to take cues of the road ahead. The
Euro experienced a bounce amidst whispers that ECB forthcoming inflation projections might support an imminent rate hike on Thursday. Nevertheless, this uptick was moderate, as the revelations originated from an anonymous source. Simultaneously, investors worldwide are gearing up for pivotal US CPI data and UK GDP figures set to drop later today, both of which
Share: Downward momentum in GBP/USD seems to have lost some traction as of late, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: Yesterday, we held the view that GBP “could test 1.2555 before leveling off.” However, GBP traded in a relatively quiet manner between 1.2460 and
Bitcoin experienced a 5% increase after testing the $25,000 support level on Sept. 11. However, this breakout rally doesn’t necessarily indicate a victory for bulls. To put today’s price action in perspective, Bitcoin (BTC) has witnessed a 15% decline since July. In contrast, the S&P 500 index and gold have maintained relatively stable positions during this
US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid. Overall, the economic data
It’s been a sluggish start to the US trading week (though not the Tokyo week) but that will change on Wednesday with the release of the August consumer price index report. There’s no scope for this data point to meaningfully change the odds of a September Fed rate hike, which is currently priced at just
NEW YORK, Sept 12 – Oil prices jumped about 2% to a near 10-month high on Tuesday on a tighter supply outlook and OPEC optimism over the resilience of energy demand in major economies. Brent futures rose $1.64, or 1.8%, to $92.28 a barrel by 11:15 a.m. EDT (1515 GMT). U.S. West Texas Intermediate (WTI)
Euro and Sterling stumbled today as they responded to less than impressive economic indicators. Despite a slight uplift in German economic sentiment, the broader picture reflected deteriorating current situation, adding pressure on the common currency. Concurrently, the Pound exhibited a steeper reaction to the shrinking payroll employment coupled with the decelerated wage growth noted in
In this article ORCL Follow your favorite stocksCREATE FREE ACCOUNT Larry Ellison, Oracle’s chairman and technology chief, speaks at the Oracle OpenWorld conference in San Francisco on September 16, 2019. Justin Sullivan | Getty Images Oracle shares moved about 5% lower in extended trading on Monday after the database software maker disclosed fiscal first-quarter revenue
Share: USD/MXN trades at 17.2607, with the dollar gaining 0.20% as risk-off sentiment prevails in the market. US inflation data due Wednesday could be a game-changer; CPI expected to rise from 3.2% to 3.6% YoY. Mexico’s 2024 economic package proposes fiscal deficit increase to 4.9% of GDP, the highest in 36 years. The Mexican Peso
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