© Reuters. The US dollar held its ground today, as investors digested Federal Reserve Chair Jerome Powell’s recent comments on the ongoing rate hikes and their impact on the economy. This stability comes against the backdrop of Moody’s (NYSE:) decision to downgrade the US sovereign credit rating, citing political and governance concerns. The market is
Share: It is quite a big week for Sterling. Economists at ING analyze GBP outlook. Some independent weakness emerging There does appear to be a little independent weakness emerging in Sterling, although the Bank of England’s trade-weighted index is only off around 0.6% over the last few days. Quite a large 1.7% MoM
MON: OPEC OMR, Canadian Remembrance Day (Observed). TUE: IEA OMR; UK Average Earnings/Unemployment (Oct/Sep), EZ Employment (Q3), German ZEW (Nov), US NFIB (Oct), CPI (Oct), Japanese GDP (Q3). WED: Chinese Retail Sales/Industrial Output (Oct), UK CPI (Oct), EZ Trade Balance (Sep), US PPI Final Demand (Oct), Retail Sales (Oct), Japanese Trade Balance (Oct). THU: CBRT
Share: The DXY index trades with mild losses at 105.80, closing a 0.70% weekly gain. Fed hawks revived USD strength during the week. UoM consumer sentiment data come in lower than expected. The focus shifts to next week’s inflation figure from the US from October. The US Dollar (USD) showed minimal movement on
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Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any
Prior +1.7% Core CPI +1.5% y/y Prior +1.3% On the month itself, consumer prices were seen up 0.1%. The stall in the headline annual inflation reading isn’t too comforting when core annual inflation actually ticked higher in October. But for now, this is still well within the threshold that the SNB can manage. This article
That’s a notable drop in annual consumer prices for Germany’s industrial state. If paired with the Brandenburg reading from Friday, that could mean we should see a steeper drop than expected for the national reading later today. For some context, you can check this post here. This article was written by Justin Low at www.forexlive.com.
Mon: German Prelim CPI (Oct), EZ Sentiment Survey (Oct), Japanese Retail Sales (Sep) and Industrial Output (Sep) Tue: BoJ Announcement + Outlook Report, Chinese Official PMIs (Oct), EZ Flash CPI (Sep) and GDP (Q3) Wed: FOMC & BCB Policy Announcements, RBNZ FSR, All Saints Day; Japanese Jibun Final Manufacturing PMI (Oct), Chinese Caixin Final Manufacturing
BoJ Governor Ueda Nikkei is out with a Bank of Japan scoop ahead of Tuesday’s meeting and decision. The Bank of Japan is likely to raise its consumer price index outlook for fiscal 2024 (starting in March) to the 2% growth range at next week’s meeting The current forecast is 1.9% Today’s Tokyo CPI data
