Market Overview - Page 97

The final German inflation data continues to underline the divergence with the USA. This gives a chance for a further EURUSD recovery if the ECB has the strength to hike rates longer than the Fed. The official report today confirmed.

On Thursday, we saw one of the most significant intraday moves of the Nasdaq100, which added 7.5%. The move is very similar to what we have seen in November 2020, December 2018, and March 2009: a strong pullback from the.

The pound rally gained new momentum on Friday morning, following a respite after the 3% rise in GBPUSD on Thursday. The British currency was supported predominantly by better-than-expected economic data and comments from the Governor of the Bank of England.

US consumer prices rose markedly weaker than expected, sparking excitement in financial markets. A rise in weekly jobless claims also added to the picture of a weakening economy, reviving speculation that the Fed will slow down tightening soon. The consumer.

Oil has lost 7.5% since Tuesday, bouncing back to $84 for WTI. Pressure intensified on Wednesday after the weekly inventory report. Having failed to break above $93 for the second time in just over a month, oil appears to have.

A slowdown in economic activity in China and beyond is putting pressure on consumer and producer inflation. The consumer price index slowed from 2.8% to 2.1% y/y in October, the lowest level since May. The producer price index was 1.3%.

Investor interest in precious metals is shining with renewed vigour as some investors see them as a safe haven amid the storm of the crypto market. Having broken above $1700, gold is showing the first signs of breaking the downtrend.

The dollar index lost over 1.9% on Friday, one of the ten most significant daily declines in the last 20 years. Given that the pressure on the dollar was throughout Friday and remained in place on Monday, dollar bulls are.

China’s exports contracted by 0.4% YoY in October, while imports lost 0.7% YoY in dollar terms. The foreign trade surplus rose to $85.7bn, lower than expected at $96bn. Most observers saw these figures as a signal of a slowdown in.

According to the latest BLS report, the US economy created 261K new jobs in October. These figures exceeded the expected 200K. Furthermore, last month’s estimate was significantly improved from 288K to 315K. The labour market thus continues to create jobs.

The market reaction to Powell’s comments on Wednesday has shattered the nice technical picture that has been forming in EURUSD for a month since late September. In this environment, the question of whether the dollar could renew the highs made.

If you want to see how important interest rate expectations are to FX, look at the reaction of the Pound and the Dollar after their central bank meetings. The Bank of England raised rates by 75 points on Thursday, repeating.