Bond markets shrug off surge in US inflation as yields fall, dragging dollar to 3½-week low But stocks impervious as Tesla drives S&P 500 to fresh record; bank earnings coming up Dollar plunge lifts rivals, yen finds little love despite J&J vaccine woes No panic after US inflation shoots higher Markets appeared to brush aside fears of higher inflation after the much-anticipated CPI data out of the United States failed to spark a huge reaction on Tuesday. The US consumer [..]
Stocks composed and dollar strengthens heading for US inflation data Stocks are suspended around their highs as market jitters are apparent as we near the release of the upcoming US inflation figures. Treasury yields and inflation remain some of the key drivers for market sentiment and in diagnosing the recovery pace. Improving yields and their bolstering effect on the greenback could be enhanced should the US Consumer Price Index (CPI) for March – due to be released at 13:30 GMT [..]
Dollar drifts sideways in choppy trading as investors brace for jump in US inflation Stocks lack direction as yields firm, US data, earnings awaited Pound extends gains but most majors stuck in tight ranges, gold slides again All eyes on US inflation With yesterday’s $96 billion Treasury auction passing uneventfully, investors have turned their attention to the latest reading of the consumer price index out of the United States later today. Expectations of a spike in US inflation have been [..]
GBPUSD could be due for an upside correction following the stabilization near the key 1.3670 support region. Even though the new bearish cross between the 20- and 50-day simple moving averages (SMAs), which is the first since September, suggests the continuation of the short-term downtrend, the RSI is regaining ground towards its 50 neutral level. Meanwhile, the Stochastics have already set up a bullish cross below the 20 oversold mark, signaling a pickup in positive momentum. The 1.3755 – 1.3777 [..]
The UK is moving to the next phase of reopening this week, with investors looking for signs of growth in the monthly GDP growth figures due on Tuesday at 08:30 GMT. Industrial output and trade data will be released on the same day, though overall the stats may not fully reflect the growing optimism in the economy, likely leaving the pound unaffected although some signs of expansion are already evident. US fiscal stimulus & AstraZeneca the key headwinds for pound [..]
Dollar flattens in absence of data today; pound rises A calm day is on the table as dollar/yen is stable around 109.35 and the US dollar index is moving horizontally and marginally below the 200-day simple moving average (SMA) as the US data in the next days may drive the greenback even higher. The US Congress is starting to work on the infrastructure package with President Biden meeting centrist lawmakers from both parties. It is noteworthy that the US fiscal stimulus will be [..]
Dollar edges up after uptick in US producer prices and a more positive Powell But yields ease slightly ahead of huge Treasury auctions Equities weighed by earnings caution and fears of China policy tightening Dollar tries to put bad week behind it It was a relatively calm start to the week in FX markets, but the momentum seems to be clearly behind the US dollar following a jump in US producer prices on Friday as well as Fed Chair Powell [..]
As the dollar recedes on some scepticism around the aggressive bets of an early Fed tightening, US inflation and retail sales numbers due in the coming week could reignite those expectations. There could be a further boost to the global recovery outlook if Chinese GDP figures point to strong growth in the first quarter. In the UK, the monthly GDP print might not be able to provide much respite for the sagging pound and the kiwi might have a hard [..]
GBPUSD is plummeting beneath the 1.3700 round number and it touched again the seven-week low of 1.3670 today. The short-term moving averages are pointing all down suggesting more losses, while the technical indicators are extending its bearish movement. The RSI is sloping down in the negative territory, while the MACD is stretching below its trigger and zero lines. More downside movements could meet the 1.3565 support level, taken from the trough on February 4. Below that, the 1.3520 barrier, registered [..]
Wall Street futures cruise to new records, approach key resistance Dollar stages minor comeback after Fed minutes, pound hit by vaccine woes ECB minutes and speech by Fed Chair Powell on the docket today Fed vs markets The minutes of the FOMC meeting contained no new revelations, but there was a clear sense of optimism about America’s economic fortunes. While the officials highlighted the various downside risks, they also emphasized the benefits from the overload of federal spending and the [..]
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