Daily Forex News

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xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Mon Nov 07, 2022 11:06 am

Federal Reserve issues FOMC statement

Last week passed without any major movement. The main event was FOMC meeting of the US Federal Reserve at which it was unanimously decided to raise the key rate by 75 basis points to 4.00%. The highest level since 2008. Such a move was quite expected. Therefore, the subsequent press conference of the regulator’s management was of greater interest to market participants. Fed Chairman Jerome Powell said at the meeting that although inflation must be reduced drastically, monetary policy parameters can be changed as needed.

The DXY Dollar Index moved up, hitting 113.00. The US currency strengthened against all G10 currencies, except for the Japanese yen. Then a reversal followed, and before the release of the data on unemployment in the US on Friday, November 04, it fell to 112.35, and EUR/USD consolidated around 0.9800

Read More : https://www.xtreamforex.com/federal-reserve-issues-fomc-statement/

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xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Tue Nov 08, 2022 7:07 am

Australian Business and Consumer Sentiment

Business reported another strong month of sales and profitability, although a dip in new orders and rising costs weighed on sentiment. Whilst consumer-driven demand remains high, National Australian Bank’s chief economist noted that forms appear wary that the current pace of consumption will continue.

PMI survey’s for Australia continue to trend lower with the S&P global composite below 50, with services PMI dragging the composite lower. Manufacturing, services and construction PMI are all below 50 according to another PMI survey by AIG. Put together it makes to wonder if growth for 2023 will have to be revised lower, as consumer spending appears to be propping up the show.

Read More : https://www.xtreamforex.com/australian-business-and-consumer-sentiment/

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Wed Nov 09, 2022 10:40 am

US CPI Preview CPI to remain elevated

The September headline inflation was 8.2% YoY, higher than expectations of 8.1% YoY, however lower than the August reading of 8.3% YoY. The Core CPI reading was higher than expected at 6.6% YoY vs expectations of 6.5% YoY and an August reading of 6.3% YoY. This was the highest reading since 1982.

The Fed has a dual mandate of price stability and maximum sustainable employment. With the labor market remaining strong, the Fed is focused on price stability, and has maintained that lowering inflation is its number one priority. During the press conference that followed the FOMC statement on 2nd November, Fed Chairman Powell noted that incoming data suggests that the ultimate level of rates will be higher than previously anticipated. In addition, he said that “how high to rise rates is more important that the pace of tightening”. These statements imply that the Fed believes inflation will remain higher for longer. But has the four consecutive 75bps rate hikes finally fed through to the real economy ? If yes, inflation may be lower than expected, which should lift stock prices and lower the value of the US Dollar.


Read More : https://www.xtreamforex.com/us-cpi-preview-cpi-to-remain-elevated/

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Thu Nov 10, 2022 7:45 am

How to Profit From US Inflation: Investment Options

US inflation is expected to soften slightly – as markets have positioned themselves for it to do so. But that also presents opportunities for traders. The inflation prints as a proxy for Fed policy. Another hot report decreases the odds of a slower pace of Fed tightening, likely boosting the dollar whilst weighing on Wall Street, commodities and all other currencies. Whilst a softer inflation report keeps hopes alive that the big hikes are behind us and send dollar lower.

The US dollar index has held above a key support zone around 109.96, which comprises of the October 2002 high, October 2022 low and bullish trend line. A bar bullish reversal has also formed to suggest a swing low is in place, and with it comes the potential to head back to the monthly pivot point just beneath 112. At this stage it is equally open for it to top out, roll over and break trend support as it is breaking back above 112. But for now, the near term bias remains bullish whilst prices hold above this week’s low.

Read More : https://www.xtreamforex.com/how-to-profit-from-us-inflation-investment-options/

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Fri Nov 11, 2022 7:34 am

US Consumer Sentiment and Elections

Officially which party has won control of the Congress is still not known. The trends and projections, the results are pretty much in line with what was expected. Republicans take control of the House, but by a smaller margin than expected. And control of the Senate is still unknown, and will likely come down to a run-off election in Georgia.

The initial reaction from the markets wasn’t favorable, likely because of the associated uncertainty. Investors don’t like knowing what’s coming, and with control of the Senate down to a single race that had less than a percentage point of margin, doesn’t inspire confidence. Additionally, Republican control by a small margin means that maintaining consistency will be harder. It only would take convincing a small number of Representatives to change legislative outcomes.

Read More : https://www.xtreamforex.com/us-consumer-sentiment-and-elections/

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Re: Daily Forex News

Postby xtreamforex » Mon Nov 14, 2022 7:04 am

United Kingdom Inflation Rate

The UK GDP revealed that the economy shrank by only 0.2% in 3rd Quarter, which means that a contraction of more than 0.55% may be needed in the last three months of the year for the BoE’s forecast of a 0.75% contraction during H2 2022 to materialize. Yet, investors dragged their rate-path projections lower. The probability for a 50bps hike at the December gathering renamed near 80%, but the implied terminal rate was lowered to 4.47% from 4.6%.

The jobs report is forecast to show that the unemployment rate held steady at 3.5% in September and that the average weekly earnings excluding bonuses have accelerated. With an inflation rate at 10.1% during that month, real wages likely stayed well into the negative territory and disposable incomes at record lows.

Read More : https://www.xtreamforex.com/united-kingdom-inflation-rate/

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Tue Nov 15, 2022 7:26 am

AUD/USD – Australian Dollar US Dollar

The Australian dollar is in negative territory, after posting huge gains last week. In the European session, AUD/USD was trading at 0.6690, down 0.22%. US Dollar took a nasty spill last week, and the Australian dollar made the most of it, gaining 3.6%. The US dollar was slammed after a soft inflation report, with headline and core inflation slowing in October and beating the forecasts. This lit up risk appetite and sent the Australian dollar to its highest level since September 22nd.

The soft inflation report had such a strong effect on the greenback because it has raised expectations that the Fed will ease up on its rate tightening. After four consecutive hikes of 0.75%, the markets have now priced in a 0.50% increase at the December meeting. That would still represent an oversize hike, but investors have been looking for a reason to rush into stocks and the drop in inflation provided that excuse.

Read More : https://www.xtreamforex.com/aud-usd-australian-dollar-us-dollar/

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Wed Nov 16, 2022 7:16 am

Markets Position, The lower-than-expected US inflation

The lower-than-expected US inflation print simply extended with economic data serving as an accelerator. European stocks add a normal 0.6% but US indices open with very solid 0.9-2.5% gains. The US NY Empire manufacturing index surpassed the bar with ease, coming in at 4.5 vs a -6 consensus. But new orders turned negative again and the outlook for six months ahead turned deeper below zero from -1.8 to -6.1. Financial markets definitely also spotted the PPI easing by more than expected.

Headline factory inflation for September was revised lower to 8.4% and slowed to 8% vs 8.3% expected. Core gauges retreated from 7.1% to 6.7% and 5.6% to 5.4%. All of them are still at elevated levels but similar to last Thursday’s CPI, that’s of no importance to markets who just want to see pressure decline, both on prices and on the Fed.

Read More : https://www.xtreamforex.com/markets-position-the-lower-than-expected-us-inflation/

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Thu Nov 17, 2022 9:44 am

US Consumer Remains Strong

Equity markets in Europe are back in the red yesterday, while the US looks largely unchanged around the open on Wall Street.

Reports of missile strikes in Poland on Tuesday naturally caused a shudder in the markets. The prospect of a sudden and unexpected escalation in the war in Ukraine, particularly involving a NATO state, doesn’t bear thinking about but it’s almost forced to and under the circumstances, the reaction was fairly modest.

It could have been much worse but investors appear to have come to the view that it was a situation that would be quickly de-escalated which is what occurred despite initial reports not looking good.

Read More : https://www.xtreamforex.com/us-consumer-remains-strong/

xtreamforex
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Re: Daily Forex News

Postby xtreamforex » Fri Nov 18, 2022 9:26 am

Japan’s Inflation hits the ‘40-year high

Despite the BOJ’s best efforts to contain inflation, prices are indeed rising.

Nationwide inflation rose to its highest levels since 1984 at 3.7% y/y and core inflation is also at 3.6%. If food and energy are excluded, CPI is now 1.4% y/y- which is its highest since 1998 we exclude the pre-emptive buying ahead of 2015’s tax hikes. Services PPI is down to 9.1% but historically high after peaking at 10.2% last month.

At 3.7%, nationwide CPI is nearly twice their 2% target. The BOJ were relatively late to the 2% inflation bandwagon by introducing their 2% target in January 2013. Of the 118 months since it was introduced, only 16.1% of them have been above 2%. There was a 12-month period from April 2014, and more recently inflation has been above 2% since April this year and still rising.

Read More : https://www.xtreamforex.com/japans-inflation-hits-the-40-year-high-club/

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