Market Overview - Page 88

Unemployment claims in the UK fell by 11.2k in February, against analysts’ average forecast of a rise of 12.5K. Jobless claims have fallen by nearly 50K over the past three months after a sustained period of stabilisation, a sure sign.

Oil reversed sharply from bullish to bearish on Tuesday, losing around 6.5% and below $75/bbl WTI. The reversal fits neatly into a tapered triangle pattern, with a setback from the upper boundary earlier in the week to the lower boundary..

USDCAD has been rallying this week, gaining 1.7% since Tuesday and testing the five-month high of 1.3850. The pair looks vulnerable to both a short-term correction and the potential for a longer-term reversal. The US Dollar has enjoyed gains after.

China’s consumer price growth fell to 1.0% y/y, a sharp slowdown from 2.1% y/y and against expectations of 1.9% y/y. Producer prices continued their deflationary slide in February, falling 1.4% y/y, versus -0.8% in the previous month and a slightly.

The Federal Reserve chief’s speech to Congress has suddenly proved to be a market troublemaker. The Dollar Index has gained more than 1.1% after Powell’s hawkish comments opened the door to a 50-basis point rate hike in March. Interest rate.

Europe continues to surprise with statistics, suggesting more room for a hawkish tone from the ECB next week. In addition to hawkish inflation readings, data from Germany today highlighted a continued recovery in industrial orders. Destatis reported a 1% rise.

For the past six trading sessions, an ounce of silver has been trading above $21.0 in both directions. The price has been falling for most of February, losing more than 17% from its high ($24.62) to its low ($20.41). Last.

The S&P500 and Nasdaq100 indices staged a solid intraday rebound yesterday, digesting the initial drop and closing the day higher. Along with the rebound in equities, a reversal to the downside is forming in the Dollar Index. Technically, the dollar’s.

Although commodity and energy prices have retreated from their highs and supply chains have recovered over the past year, inflation remains a problem. This thesis was confirmed today for the eurozone. Eurostat estimated overall price growth in the Euro region.

The major US indices are under pressure amid the ongoing reassessment of the Fed’s monetary policy outlook. The S&P500 and Nasdaq100 indices are testing key technical support again, returning to the crossroads they left over a month ago. Nasdaq100 futures.

Lifting the lockdown and the end of the Lunar New Year celebrations led to a strong rebound in Chinese economic activity. The manufacturing PMI jumped to 52.6 in February from 50.1 the previous month, according to an official release from.

Spain’s CPI rose by 1% in February, and annual inflation accelerated from 5.9% to 6.1%. In France, prices rose 0.9% m/m, accelerating to 6.2% y/y. For forex traders, it is also important to note that the figure was higher than.