The White House said there is indicator of progress in Thursday’s inflation reading though the Federal Reserve is expected to respond by aggressively by raising interest rates once again in November’s meeting.September’s CPI, measuring the changes in prices for a slate of consumer goods and services, showed that American consumers …
Read More »US stocks find surging momentum on US CPI
US stocks are strongly back into the green territory, putting on a short squeeze following the pre-market and opening selloff that ensued on the back of hot Consumer Price Index data. Stocks plunged to lows for the year but bulls moved in at a big discount, sending the Dow Jones …
Read More »EUR/USD climbs after hot inflation data
The EUR/USD dived to a daily low of 0.9631 as a reaction to US inflation, but the pair was able to recover later. CPI jumped more than estimated by 6.6% YoY, topping August 6.3%. Contrarily, headline inflation edged lower from the previous month’s 8.3% to 8.2%, almost 1% lower than …
Read More »US dollar still has chance to surge
The US dollar is maintaining the best performance across the board. Economists forecast that the next phase of US dollar’s resilience will be less linear than it has been in 2022.In the light of Thursday’s CPI reading, Fed has to keep going at 75 bps increases and the US dollar …
Read More »WTI pressured on risk aversion after CPI data
The West Texas Intermediate crude oil is under pressure during the US trading session following US hot inflation reading release that has caused risk aversion across financial markets.At the time of writing, WTI is down around 0.6% is recovering to the $88.28 high after managing to rise from earlier fresh …
Read More »Market Drivers- US Session 12/10/2022
The US session left the American Dollar slightly changed on Wednesday, despite some noise coming from major central banks. Investors await US inflation data, which could provide fresh clues on the policy track to be followed by the Federal Reserve in next policy meetings.The EUR/USD pair remains stable at around …
Read More »CPI Preview: Why does it matter?
Rising rents are expected to represent a considerable factor behind the jump in September consumer prices. The awaited consumer price index will be released Thursday at 8:30 a.m. ET, and it will attract full attention from investors as a key input data ahead of next Fed meeting on November 1 …
Read More »WTI pressured as supply risks raise concerns
The WTI crude is under pressure leading up to the key event of the week; namely Thursday’s US Consumer Price Index. At the time of writing, WTI is trading at 87.18 having crawled between $86.30 low and $90.05 high. Oil retreated on Wednesday with overall negative performance, losing over 1.8% …
Read More »US stocks close lower after FOMC Minutes
US stocks finished lower on Wednesday after the release of the minutes of September FOMC policy meeting, wherein policy makers noted that inflation remained “unacceptably high.”The S&P 500 SPX, -0.33% closed 11.81 points, or 0.3%, lower at 3,577.03. The Dow Jones Industrial Average DJIA, -0.10% finished off 28.34 points, or …
Read More »Gold benefits from FOMC minutes
Gold spiked higher to reach $1,678 after FOMC Minutes. The US dollar loses ground as the Fed hints to moderate the hiking pace. Gold futures spiked up to session highs at $1,677, with the US dollar turning lower as the minutes of September’s Fed meeting have been considered more dovish. …
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