Market Overview - Page 72

Oil once again failed to confirm the bullish trend on Wednesday, moving lower under pressure from news of a jump in US inventories. The Department of Energy reported that commercial inventories rose by 12 million barrels last week, bringing the.

The release of last October’s US inflation data was a real blockbuster for the markets, creating powerful one-way movements. Consumer prices rose 0.3% in January, while annual inflation slowed from 3.4% to 3.1% instead of the expected 2.9%. The core.

Oil went on the offensive last week, once again confirming the importance of support at the 200-week moving average. Both robust US economic data and OPEC+ intentions to keep production under control fuelled the rally. All this is on top.

Consumer inflation in Switzerland slowed to an annual rate of 1.3% in January, the lowest since October 2021. This is significantly lower than the 1.7% recorded in the previous month and was expected on average by analysts. The current level.

Economic data continues to be on the Pound’s side, with another set of better-than-expected figures, this time from the labour market. The unemployment rate fell from 4.2% to 3.8% against expectations of 4.0%. A fall in the number of active.

The Canadian dollar rallied on the release of January’s employment figures. However, it will be difficult to sustain the gains and build on the offensive if we focus only on the data released. According to StatCan, employment grew by 37.3K.

Copper exchange prices on Thursday fell to their lowest since November, approaching $8200 a tonne and breaking out of the broad consolidation range of the past two months. A move out of the $8250-8700 range technically leaves copper vulnerable to.

Inflation in China remains below expectations, adding to investor concerns about the world’s second-largest economy. The consumer price index for January was 0.8% lower than a year earlier, more than the 0.3% drop in December and the 0.5% expected. Recall.

The euro is back at 0.8520 against the pound. The pair bounced off this level in June and August last year. Reaching the same level in late January triggered a shake-out, but active declines resumed on Tuesday and Wednesday, and.

Industrial orders rose 8.9% in December against expectations for a 0.1% decline, a rare positive for Germany that the euro chose to ignore. This is the most robust monthly increase since mid-2020’s lockdowns. In the same month last year, the.

The Reserve Bank of Australia kept its cash rate unchanged at 4.35% for the third consecutive meeting. The markets widely expected the decision, but the tone of the accompanying commentary was more hawkish than the market had anticipated, adding to.

Friday’s US Non-farm Payrolls figures triggered a rally in the dollar. At the beginning of last week, the market also responded to the FOMC’s comments with dollar buying. In other words, the two main market drivers were working in the.