Market Overview - Page 99

The inflation report marathon continues; it was the UK’s turn this morning. Traditionally, the consumer price change figures attracted the most attention. For the month, they rose by 0.5% (slightly less than the 0.6% expected), and annual inflation fell from.

US inflation turned out to be wider and hotter than expected, confirming markets for another 75-point rate hike next week. Published data showed a 0.1% increase in prices for August, against expectations of a decline of the same magnitude. Annual.

The US dollar had reversed, losing 2.6% to a basket of major currencies from last Wednesday’s highs when the DXY was making multi-year highs. Although the dollar sell-off is very active, it looks more like a profit taking than a.

Monthly estimates showed that the UK economy added 2.5% over the three months to July vs the same period a year earlier. The negative surprise was a 0.3% decline in Industrial Production in July compared to expectations of a 0.4%.

Gold dynamic reverses smoothly on the daily charts, setting up a double-bottom formation. Gold is forming a local uptrend after touching the lows near $1680 at the very beginning of the month. The daily charts show that the area near.

China is at the other end of the spectrum, while the developed world is facing the highest inflation rate in two generations. The published CPI and PPI data for August marked another drop in inflationary pressures and fell well below.

The European Central Bank, at the end of its regular meeting, raised the interest rate by a record 75 points after increasing it by 50 in July. The move was almost entirely priced into the debt market, as Bank officials.

Oil broke a major support line on Wednesday, falling to its lowest since January. The significance of the breakout is further underlined by its strength, with an intraday drop of more than 6%. Oil prices fell right below the highs.

Brent and WTI spot prices are now lower than they were before the surprise from OPEC. The cartel yesterday surprised markets with a recommendation to cut oil production quotas by 100,000 BPD from October. The move is small but symbolic..

The Japanese yen is renewing 24-year lows against the dollar, and so far, policymakers have no safe tools to stop this decline. The USDJPY was above 141 on Tuesday morning, last seen in the first half of 1998. At the.

The US economy has created 315k new jobs, just above the forecasted 295-300K. The total number of employed people has surpassed the pre-pandemic highs with 152.7M. But, considering the natural population growth, the market is still not as tight as.

The dollar index rose above 110, updating 20-year highs on Monday morning as a flash reaction to increased pressure on the euro and British pound. European currencies are selling off amid an energy crisis related to Russian gas supplies, which.