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GBP/USD Forecast: Cable at Key 1.2525 Support after Cool UK CPI
GBP/USD is the weakest US dollar cross after this morning’s cooler-than-expected UK CPI report - see what it means (and doesn't mean) for the BOE!
U.S. Dollar Post-CPI: EUR/USD, GBP/USD, USD/JPY, XAU/USD (Gold)
The U.S. Dollar broke out and set another fresh 2024 high this morning as the currency continues to claw back Q4 losses.
Gold analysis: Metal drops below $2K on hot inflation
Bears in charge of metal amid hot CPI and hawkish Fed. Today saw US CPI print 3.1% with core CPI remaining unchanged at 3.9%, both hotter than expected, Consequently, gold sold off along with bonds and equities.
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US CPI Preview: USD/JPY Tests 2024 Highs, Tame Inflation Expected
US CPI may be quiet this month, but the recent surge in the “Prices” component of the ISM PMI surveys hints that inflation could reaccelerate this Spring.
AUD/USD weekly outlook: US inflation, AU jobs figures to drive AUD
AUD/USD traders will keep a close eye on US inflation data to decipher Fed policy, Australia's employment report to see if another month of strong job losses ensues.
Can US inflation data make or break the US dollar? The Week Ahead
Whist the daily charts still appear favourable for another leg higher on the US dollar, the weekly charts and market positioning suggest some dark clouds may lurking above. And incoming CPI or inflation expectations data could make or break the dollar, if they lean enough in either direction.
Gold Forecast: Why “Inflation Hedge” Gold is Falling, Despite Hot US CPI
The dollar’s strength and opportunity cost of holding gold are outweighing its inflation hedge credentials
US CPI Forecast: USD/JPY Consolidates Just Below 145.00 Resistance Ahead of Inflation
Interestingly, the year-over-year reading on US CPI is expected to rise for only the third time since mid-2022, but the increase is expected primarily due to so-called “base effects"...
FTSE analysis: UK CPI gives stocks much-needed boost
CPI-related gains mostly given back by the FTSE, but expectations of a sooner-than-expected BoE rate cuts have been re-ignited, which could encourage dip-buyers. Indeed, technical analysis suggests bullish trend is well and truly underway for FTSE. Meanwhile, London-listed energy stocks could find support from crude oil, now up for 6th day.
US CPI Preview: USD/CAD Nears 200-Day EMA Ahead of Inflation Data
Traders and economists expect the CPI report to show that consumer prices rose 0.0% m/m (3.1% y/y), with “Core” CPI expected at 0.3% m/m (4.0% y/y).
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.
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.
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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.