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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.
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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.
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.
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.
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
US dollar analysis: How sticky will core CPI be?
The Cleveland Fed’s widely-watched Inflation Nowcast suggests potential upside risk to the release...
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GBP/JPY outlook brightened amid sizzling hot UK inflation
Thanks to another 10% CPI inflation print, interest rate expectations are on the rise again in the UK. This is putting upward pressure in the yield spread between the UK and Japanese government bonds, boosting the GBP/JPY outlook.
EUR/USD forecast: Traders eye 1.10 on softer US inflation data
The weaker US inflation data supports our bullish EURUSD forecast: We think that the single currency is likely heading above $1.10 soon.
GBP/USD, USD/CAD forecasts: Two trades to watch
GBP/USD rises ahead of US inflation data, BoE’s Bailey. USD/CAD falls ahead of BoC & US CPI.
Gold outlook: US inflation in focus
Today’s US inflation report could be the difference between a 25bp Fed hike or pause at their May meeting, making it a key data point to watch.
The Hang Seng rises on soft inflation data from China
China’s consumer and producer prices continued to deflate in March, which helped further boost sentiment in today’s Asian session.
European Open: Swiss inflation, flash PMI and ISM manufacturing reports in focus
Oil prices have stabilised following OPEC’s surprise oil production cut, which now allows traders to switch their focus over to Swiss inflation, flash PMI and ISM reports.