Euro to US dollar analysis: EUR/USD lifted by German ZEW ahead of US CPI
The EUR/USD and all other major euro crosses rose this morning, finding support from slightly stronger Eurozone data and the overall positive risk tone across financial markets we have seen in recent days. Investors were reluctant to punish the dollar more forcefully, however, as they awaited the release of key US inflation data.
US Dollar Analysis: USD/JPY Tests 30+ Year Highs Ahead of US CPI
With the decline in the inflation rate seemingly stalling, a higher-than-expected inflation reading is likely to be more impactful to markets.
AUD/USD in focus for AU CPI, gold holds support: Asian Open – 25/10/2023
The importance of today’s Australian inflation report has only increased following last week’s relatively hawkish RBA minutes and comments from the Governor on Tuesday. And that leaves AUD/USD vulnerable to a rally from relatively low prices should CPI come in hot. We've also seen the required pullback to support to for gold, to reconsider a cheeky long.
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EUR/USD analysis: US CPI provides dollar fresh impetus – for now
The EUR/USD shed more than 85 pips from the day’s high as the selling accelerated when US CPI data was released. But at the time of writing, it was testing potential support around 1.0550 area. While the slightly stronger US CPI data has given fresh life to the dollar’s bullish trend, inflation was not too hot to be a game-changer.
Gold Analysis: Will US CPI Crush Hopes of a November Fed Hike?
A soft inflation report this week may put the proverbial “nail in the coffin” for any immediate interest rate changes...
ASX 200 analysis: Like it or not, it’s holding above 7k post CPI
The ASX 200 has continued to show resilience around the key 7,000 support level, despite the surge on bond yields, negative sentiment and rising inflation. What if sentiment improves?
Gold outlook dims as US inflation heats up again
So, the inflation battle continues for the Fed as we the latest CPI data come in stronger. This should keep the dollar supported against currencies where the central bank is expected to turn dovish. The likes of the euro and pound come to mind. Gold and possibly stocks may also struggle as the renewed surge in inflation may force the Fed to hike interest rates perhaps one more time before the end of the year.
S&P 500 Forecast: Stocks hold steady as oil prices lift inflation
US stocks are heading for a flat start after US headline inflation rose but core inflation cooled. CPI rose 3.7% YoY, ahead of forecasts and up from 3.2% in July. Core inflation cooled to 4.3%. The data comes as oil prices continue to rise, keeping prices at the pumps elevated, pushing inflation higher. The Fed is not expected to raise rates next week, but this data keeps a November rate hike on the table.
USD/JPY rises into US CPI, GBP/AUD holds key support: European open
USD/JPY was rising on the back of USD strength earlier in the Asian session, with USD/JPY seemingly trying to close its large weekend opening gap ahead of US CPI data. GBP/AUD has also caught our eye as its 3-wave retracement is trying to form a base around a support cluster.
Pre-CPI US Dollar Price Action Setups: EUR/USD, Gold, USD/JPY
The US Dollar is holding near resistance ahead of high-impact data, with tomorrow’s CPI release followed by the Thursday ECB rate decision, and then next week’s FOMC meeting.
US CPI, ECB and a slew of China data: The Week Ahead – 08/09/2023
The combination of a key US inflation report and finely-balanced ECB interest decision should keep EUR/USD on trader’s radars. Although we also have plenty of data out from China which could sway sentiment for risk assets, including CPI/PPI, loan growth, investment, retail sales and employment.
Dow Analysis: DJIA Nears 18-Month Highs After Benign CPI Data
The Dow is holding near 18-month highs, and a break above 35,700 resistance could pave the way for a continuation toward 36K or even the record highs at 37K.
Euro to dollar analysis: EUR/USD in focus ahead of US CPI
Ahead of the publication of US CPI, the EUR/USD managed to climb above the 1.10 handle although remained inside its existing ranges, suggesting traders were not opening any bold positions with the key risk events ahead. But the fact it has turned positive on the week and reclaimed the 1.10 handle was clearly a positive development from a technical point of view anyway.
Dow analysis: US stocks surge on CPI miss but will rally hold?
Following the weaker inflation report, the major US indices all crossed above their respective highs made in June. Will the rally hold?
Euro Analysis: EUR/USD at 16-month highs above 1.11 as CPI misses
A EUR/USD near current levels would confirm the breakout and open the door for a continuation toward the March 2022 high at 1.1185
Reddit Stocks: What meme stocks are trending today? – July 12, 2023
What stocks are being discussed and traded today, and which ones are experiencing the sharpest moves before the bell?
USD/CAD outlook: Currency pair of the week
The USD/CAD outlook is subject to a major revision this week with investors looking forward to the release of US CPI and a rate decision from the Bank of Canada.
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FTSE 100 analysis: Stocks fall as UK inflation remains hot
Inflation remained higher than hoped in May, weighing on UK stocks and cementing fears that more rate hikes are needed.
US dollar analysis: USD/JPY coiling ahead of CPI, Fed, and BOJ
USD/JPY has spent the last three weeks consolidating in a symmetrical triangle pattern but a breakout may be imminent...
Purchasing power parity: definition, formula and uses
Purchasing power parity (PPP) measures the cost of identical goods in different countries. It’s often compared against the exchange rate of different currencies to determine the real purchasing power of different countries’ currencies. Traders and economists use PPP to help gauge a currency’s value in relation to another.
EUR/USD analysis: Cooler inflation fails to shift ECB hike bets
Investors’ focus now turns back to US data as speculation over whether the Fed will hike in June continues. Watch out for fresh EUR/USD analysis from the team as the data could shift Fed bets again.
EUR/USD Forecast: All Eyes on Euro Area CPI, US Jobs Report
Key data prints coming out later this week may sway EUR/USD as both the ECB and FOMC continue to combat inflation.
Japanese yen analysis: USD/JPY testing key support at 134.00
Despite today’s weakness in the greenback, USD/JPY is still holding above a short-term bullish trend line, as well as its 50- and 200-day EMAs in the 134.00 area