Market Update – January 17 – USD Holds at 7-mth lows, Mixed data from China & UK
Trading Leveraged Products is risky Chinese GDP for 2022 at 3.0% missed expectations (5.5%) significantly and represented the slowest growth for the world’s second largest economy since 1976 and the end of the austerity of Mao Zedong. Q4 GDP beat expectations at 2.9% vs 1.8% but was still very weak. […]
British Pound Latest – GBP/USD Pushes Higher on UK Jobs Data
GBP/USD – Prices, Charts, and Analysis UK wages are robust but inflation means consumers are worse off. Sterling picks up a bid post-release. Recommended by Nick Cawley Download our new Q1 British Pound forecast The latest UK Labour Market Report will give the Bank of England (BoE) something to ponder ahead of its February 2 […]
Japanese Yen Slides Ahead of BoJ While Chinese Data was Digested. Where to for USD/JPY?
Japanese Yen, USD/JPY, BoJ, JGB, Nikkei 225, China Data, Crude Oil – Talking Points The Japanese Yen softened today ahead of a crucial BoJ meeting Chinese data was better than expected but it wasn’t all good news If the BoJ shift toward further tightening, will USD/JPY resume its downtrend? Recommended by Daniel McCarthy Get Your […]
Australian Dollar Bumped on Strong China GDP Data. Where to for AUD/USD?
Australian Dollar, AUD/USD, China GDP, Iron Ore, US Dollar, Fed – Talking Points The Australian Dollar firmed again after solid China GDP figures China’s re-opening is yet to hit the growth numbers but has helped commodities The US Dollar appears vulnerable. Will it boost AUD/USD to a new peak? Recommended by Daniel McCarthy Get Your […]
China Q4 GDP and December industrial output (and more) data due today – preview
Coming up on the calendar today: I posted a preview of this data here: Reuters have a preview posted also if you’d like more. Via JPMorgan: “The Chinese economy appears to have ended the year on a weak tone” “As suggested by the weak December NBS PMI report, domestic activity likely slowed further by year-end […]
UK Employment and Inflation Data for December: Some Relief for the BOE?
Last Friday, the UK reported a surprise growth in GDP. That was even a surprise for the normally overly optimistic government analysts, who were expecting the UK to remain in recession for the coming quarters. Of course it was just one month of data, and doesn’t necessarily mean a trend is forming. The outsized growth […]
Heads up for a barrage of Chinese economic data due on Tuesday, 17 January 2023 – preview
China heads off on a week-long holiday at the end of this week for Lunar New Year, welcoming in the Year of the Rabbit. Let’s see if any of this data pulls a rabbit from the hat: This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are […]
Japanese Yen Appreciation Intact After PPI Data Ahead of BoJ Meeting. Lower USD/JPY?
Japanese Yen, USD/JPY, US Dollar, BoJ, YCC, PPI, CPI – Talking Points USD/JPY continues to test support after making fresh lows last week Japanese companies are facing higher costs at the factory gate If the BoJ tighten on Wednesday, will USD/JPY further submerge? {{EDU_SUBMODULE|11}} The Japanese Yen has started the week on steady footing after […]
EUR/USD juggles below 1.0850 as focus shifts to US PPI and Retail Sales data
EUR/USD is oscillating below 1.0850 amid a holiday in the United States market. The US Dollar Index (DXY) is looking to drop below the immediate support of 101.75 amid an upbeat market mood. The release of the US PPI and Retail Sales will provide decisive moves in the asset ahead. The EUR/USD pair is struggling […]
AUD/USD bulls eye a break of 0.6990s as domestic data underpins hawkish RBA sentiment
AUD/USD supported on domestic recent data. Bulls eye a break of the inverse head and shoulders. AUD/USD is trading at 0.6970 and in a tight 10-pip range between 0.6967 and 0.6977 on the day so far. The price has been capped below the recent 0.6990s recent highs in what has been a choppy consolidation range […]