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Market Analysis

February, 2023

  • 14 February 2023 11:58 pm

    USD/CAD shyly rises after CPI data

    The USD/CAD pair broke two days of losses and rose towards 1.3350s on US inflation data. The US Consumer Price Index for January was mixed, with MoM aligned with estimates, while YoY figures were above forecasts. The USD/CAD pair braces to its early gains in the day, though it retreated …

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  • 14 February 2023 11:10 pm

    Fitch Expects Weaker US Labour Demand On Interest Rate Hikes

    The US labour demand will weaken on rising interest rates, south-dominated jobs recovery according to Fitch Ratings. Fitch Ratings expects the US labour market to weaken as aggregate demand stagnates over the course of the year in response to the lagged effects of higher interest rates, according to a new …

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  • 14 February 2023 10:03 pm

    Wall Street falls after inflation cools by less than hoped

    Wall Street is slumping Tuesday after CPI report suggested inflation may not be slowing as quickly and as smoothly as hoped. The S&P 500 was 1% lower in midday trading, while yields shot higher in the bond market as investors braced for the Federal Reserve get firmer on interest rates …

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  • 14 February 2023 9:00 pm

    USD/JPY reclaims 133.00 after CPI data

    The USD/JPY pair registers gains of 0.50%, above the 133.00 mark. US inflation data, though mixed, triggered the recent US Treasury bond yields’ jump, pushing the USD/JPY forward.The USD/JPY reached a new YTD high of 133.13, though it failed to cling to those gains, retracing beneath last week’s high of …

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  • 14 February 2023 7:44 pm

    Fed’s Logan: Must be prepared to keep interest rate hikes for longer than anticipated

    “We must remain prepared to continue rate increases for a longer period than previously anticipated, if such a path is necessary to respond to changes in the economic outlook or to offset any undesired easing in conditions,” Dallas Federal Reserve President Lorie Logan said on Tuesday.The US dollar Index showed …

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  • 14 February 2023 6:44 pm

    US inflation declines only slowly, Fed cannot be satisfied

    These are undoubtedly the beliefs of some investors, who ignore slight increases in annual inflation rates because they believe the downward trend will continue. That means that markets are in a risk-on mode. The Core Consumer Price Index (Core CPI), which increased by 0.4% MoM in January as predicted, is …

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  • 14 February 2023 6:26 pm

    XAU/USD pops on the knee jerk to US CPI

    As the markets process the full inflation data that the United States of America has released, the price of gold fluctuates. For the month-over-month data, the US Consumer Price Index came in at 0.4% vs. 0.4% anticipated. The US CPI for January came in at +6.4% for the year, more …

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  • 14 February 2023 5:57 pm

    US annual CPI data declines to 6.4% in January

    The US Bureau of Labor Statistics reported on Tuesday that inflation in the United States, as measured by the Consumer Price Index (CPI), declined to 6.4% on a yearly basis in January from 6.5% in December. This reading came in higher than the market expectation of 6.2%. On a monthly …

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  • 14 February 2023 5:56 pm

    OPEC expects an increase in global oil demand by 2.32 million b/d in 2023

    The Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report on Tuesday that global oil demand will rise this year by 2.32 million barrels per day, or 2.3 percent. And increased expectations by one hundred thousand barrels per day compared to the expectations of the organization last …

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  • 14 February 2023 4:27 pm

    Japan appoints academic Ueda as new governor of the central bank

    The Japanese government said it has appointed academic Kazuo Ueda as the next central bank governor, in a surprise choice that could boost chances of ending its unpopular yield control policy. Ueda, 71, a former board member of the Bank of Japan, will succeed Haruhiko Kuroda, whose second five-year term …

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  • 14 February 2023 3:47 pm

    US Dollar is falling ahead of the announcement of US inflation data

    The dollar fell on Tuesday ahead of the release of highly anticipated US inflation data, while the yen rose on the surprise selection of the new governor of the Bank of Japan, Kazuo Ueda. The British Pound rose after UK jobs data showed basic wage growth accelerating, but the labor …

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  • 14 February 2023 2:50 pm

    US CPI Preview: Forecasts from four major banks

    The US Bureau of Labor Statistics will release the Consumer Price Index (CPI) figures for January on Tuesday, February 14 at 13:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 12 major banks regarding the upcoming US inflation …

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  • 14 February 2023 2:20 pm

    European shares opened higher, supported by gains in the travel sector

    European stocks opened higher on Tuesday, supported by gains in the travel sector, after TUI Tourism Group expected a recovery in the travel sector for the next summer season. The pan-European Stoxx 600 index was up 0.3 percent by 0812 GMT. European travel and leisure stocks rose 0.6 percent. Germany-listed …

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