Forexlive Americas FX news wrap: PCE data matches estimates
Markets: Gold down $1 to $1928 US 10-year yields up 2.5 bps to 3.51% WTI crude oil down $1.63 to $79.37 S&P 500 up 0.25% to 4070 JPY leads, EUR lags The week is winding down and FX is largely flat on the day. There was some USD buying into the London fix but it […]
USD Support Test Into a Heavy Week of Data
US Dollar Talking Points: The US Dollar printed a doji on the weekly bar, holding right around the 102 level that’s the 50% mark of the 2021-2022 major move. Fundamentals are driving the market next week as we get the FOMC on Wednesday followed by the Bank of England and the European Central Bank on […]
Market Update – January 27 – Strong US data = Soft Landing ?
The major US economic data yesterday (Q4 GDP lower; 3.9% from 4.2% but better than expected 3.6%, strong consumer spending, Durable goods, New Home Sales, Lower Inventories and Weekly Claims at new 22-mth lows) all added to the soft landing, disinflation, scenario for the US economy. A FOMC 25bp hike next […]
ECB’s Lagarde and U.S. Data in Focus for Euro Today, Turnaround Looming?
EUR/USD TALKING POINTS & ANALYSIS Key U.S. data to set foundation for next week’s rate announcements. Lagarde speech may not move markets as some may expect. Technical analysis suggests possible pullback on EUR/USD. Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROP The euro lost some ground after yesterday’s better than expected […]
Asia FX muted as PCE data looms, yen boosted by inflation By Investing.com
© Reuters. By Ambar Warrick Investing.com — Most Asian currencies kept to a tight range on Friday in anticipation of the Federal Reserve’s preferred inflation gauge, while the Japanese yen rose as higher-than-expected Tokyo inflation readings fed into expectations for more hawkish moves by the Bank of Japan. The rose 0.2% against the dollar and […]
US Dollar struggles to capitalize on upbeat data ahead of PCE inflation
Here is what you need to know on Friday, January 27: The US Dollar Index managed to post small daily gains on Thursday following the robust macroeconomic data releases from the US but seems to be struggling to gather further bullish momentum early Friday. The benchmark 10-year US Treasury bond yield holds steady above 3.5% […]
US Data Surprises Helps the USD to Stage Mini-Rebound
Currency markets continue to remain in a relative equilibrium with FX majors fluctuating in fairly narrow ranges. US broad equity indices also lack direction, the key benchmark of the market, S&P 500, after two mini-selloffs to 3900 and 3960 in January, remains tied to the level of 4000 points. Oil (WTI benchmark) has been rising […]
Can US Data Bring Back Risk Appetite
Yesterday, markets took on a decidedly risk-off attitude through early trading. Some of that was recovered by the evening. But corporate reports were providing investors with plenty of reason to pause. Microsoft was one of the larger firms to contribute to pessimism, as it reported slower growth in its enterprise software division. That implies that […]
ForexLive European FX news wrap: Dollar steady awaiting US data
Headlines: Markets: AUD leads, JPY lags on the day European equities slightly higher; S&P 500 futures up 0.2% US 10-year yields up 2 bps to 3.482% Gold down 0.5% to $1,936.17 WTI crude up 0.8% to $80.78 Bitcoin down 2.6% to 22,983 It was a quiet session for the most part with there not being […]
German ZEW January data underpins Euro sentiment as energy crisis risks abate
Incoming data on the German economy continues to install confidence to Euro longs. After PMI and ZEW, the positive series was updated by the Ifo report, which indicated an improvement in the prospects for the German economy. In January, the index was 90.2 against 88.6 in December and returned to the levels of mid-2022:While the […]