The prices that producers receive for goods and services declined in August, a mild respite from inflation pressures that are threatening to send the U.S. economy into recession. The producer price index, a gauge of prices received at the wholesale level, fell 0.1%, according to a Bureau of Labor Statistics report Wednesday. Excluding food, energy
EUR/USD reached a weekly low at 0.9955, just below the 20-day EMA. US economic data fueled expectations of a 100 bps rate hike, with odds lying at 26%. Money market futures estimate an ECB 75 bps rate hike in October. The EUR/USD slightly recovers from yesterday’s losses, advancing almost 0.31%, due to a soft US
The price of Apple was one of the shining big cap tech stocks from the June low. The low reached 129.05 on June 16. By August 17, the price was back up at 176.12. That was just below the end of year level at 177.59. Yes, the price got within $1.43 of the unchanged for
The dollar ran riot in trading yesterday after the US CPI data, in which we saw a fall in EUR/USD from near 1.0180 all the way to below parity. In turn, we also saw a firm break below the 100 and 200-hour moving averages and that is keeping a more bearish near-term bias in the
Crude oil prices have been in a downward spiral for the last three months in a row and hit an eight-month low last week. Prices have erased the entire geopolitical risk premium and are back at the levels when Russia first attacked Ukraine in February 2022. Crude prices cruised as high as $139 a barrel
Dollar surged overnight, partly as traders added bet of another aggressive rate hike by Fed next week, and partly on deep risk aversion. Though, there is no follow through buying in Asia, as the greenback is now consolidating gains. On the other hand, Yen appears to be talked up by Japanese officials, and reports that
Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices, the Bureau of Labor Statistics reported Tuesday. The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy
August US Core Price Index (CPI) report easily beat expectations, reinforcing the case for the same USD-positive near-term forecasts as economists at Credit Suisse had last week. No reason in the short-term to change key calls end-Q3 “Looking at the immediate future, the balance of risk has tilted from concerns about a possible weak US
While the Bitcoin network isn’t programmable, it serves as an excellent settlement layer to build robust applications on top of, says Hiro CEO Alex Miller. Hiro provides Bitcoin development tools for developers to build on the Stacks blockchain. Miller said Stacks inherits the Bitcoin network’s security through a consensus mechanism called proof-of-transfer (although this is
? Website: https://rafalzuchowicz.com/ ? Free Course: https://bit.ly/Free-Rafal ?Broker offering free Ichimou tools: https://bit.ly/EU-Clients or https://bit.ly/Non-EU-Clients Make sure you use the correct link for your location. For Clients outside of Europe https://bit.ly/Non-EU-Clients For Clients from Europe and the United Kingdom https://bit.ly/EU-Clients Forex Trading strategy, based on hedging your losing positions in a precalculated manner. Win every
?Download the OctaFX Trading App at ? https://bit.ly/OctaFX_TradeSwings and get 5,000 USD on your demo account! Enter promo code – TRADESWINGS and double your first deposit! ? Start earning extra with the official trading partner of the Delhi Capitals – OctaFX? ——————————- Intraday Trading Strategies | Trade Swing | Swing Trading Strategies | Option Trading
The USD is extending to a new high vs all the major currencies with the exception of the JPY and CHF as London/European traders head for the exits. EURUSD: The EURUSD is falling below its 200 hour moving average at 0.99976 and trading back below the parity level at 0.9993. GBPUSD: The GBPUSD is moving
The NZDUSD is trading to a new 2022 low taking out the low from last week at 0.59956. The pair is trading at the lowest level since the week of May 17, 2020. The pair is also moving below the natural support level at 0.6000. Short term traders may now use that level as a
Gold price in the national capital declined by Rs 314 to Rs 50,905 per 10 grams on Tuesday amid rupee appreciation, according to HDFC Securities. The price of the yellow metal touched Rs 51,219 per 10 grams on Monday. However, the COMEX spot price of gold was marginally lower at USD 1,723.60 per ounce compared
Dollar rebounds strongly in early US session after stronger than expected consumer inflation reading. 10-year yield jumps sharply and breaks above 3.4% handle DOW futures are down over -300 pts at the time of writing. The case for a 75bps hike by Fed is pretty much sealed. The question is whether markets will bet on
A person shops in a supermarket as inflation affected consumer prices in New York City, June 10, 2022. Andrew Kelly | Reuters For the better part of a year, the inflation narrative among many economists and policymakers was that it was essentially a food and fuel problem. Once supply chains eased and gas prices abated,
NZD/USD collapsed after US CPI rose higher than estimated, further cementing a large Fed interest rate increase. August inflation in the US flashed signs of being stickier than expected. Traders await NZ Current Account alongside US PPI on Wednesday. The NZD/USD sinks more than 100 pips or 2% during Tuesday’s North American session, spurred by
The morning forex technical analysis, I spoke to the EURUSD support in the 1.0098 to 1.0121 area (see near 2:00 in the video here). That area has indeed held support with a low for the NY session at 1.01036. PS the 200 bar MA on the 4-hour chart also stalled the fall. That level comes