Silver price is dropping close to 1.50% on Thursday. July’s US CPI and PPI inflation reports show signs of topping; however, Fed officials remained hawkish. Traders’ focus shifts toward the University of Michigan Consumer Sentiment and Inflation Expectations. Silver price drops moderately as market sentiment remains upbeat following the release of the US inflation data… Read More »
The NZD/USD advances for the second straight day, up in the week by 3.03%. The US PPI for July rose by 9.8% YoY, less than estimates and last month’s reading. US Initial Jobless Claims jumped for two consecutive weeks, hinting the labor market is moderating. The NZD/USD climbs above the 100-day EMA around 0.6439, courtesy… Read More »
USD/CAD extended its losses for the second straight day as sellers eye a break of the 200-DMA. July’s US inflation reports show signs of peaking, with CPI at 9% YoY and PPI at 10% YoY, below their previous month’s readings. Traders’ focus shifts toward the University of Michigan Consumer Sentiment and Inflation Expectations. The USD/CAD… Read More »
The GBP/USD drops almost 0.05% amidst a risk-off impulse while the US dollar weakens. US prices paid by producers easied, while unemployment claims jumped for the second consecutive week. GBP/USD Price Analysis: Retreated from a descending-channel trendline, eyes a break below 1.2200. GBP/USD edges lower off the weekly highs around 1.2276 near a top-trendline of a… Read More »
“China’s war games around Taiwan have led Biden administration officials to recalibrate their thinking on whether to scrap some tariffs or potentially impose others on Beijing, setting those options aside for now, according to sources familiar with the deliberations,” said Reuters in late Wednesday. Key quotes President Joe Biden has not made a decision on… Read More »
Silver price edged up 0.57% on Wednesday after US inflation eased from 4-decade highs. US inflation annually decelerated from above 9% as gasoline prices dropped. Fed’s Evans and Kashkari expect further rate hikes. Fed’s Kashkari foresees the Federal funds rate (FFR) at 4% by the end of 2022. Silver price falters to rally on Wednesday… Read More »
The NZD/USD is advancing more than 2% on Wednesday, courtesy of broad US dollar weakness. Investors’ mood shifted positively once US inflation cooled down, while traders expected a less aggressive US Fed. US headline inflation and core CPI were lower and aligned with estimations. Fed’s Evans expects the Federal funds rate (FFR) to finish around… Read More »
The USD/CHF is recording its biggest daily fall since June 15, down 1.16%. The pair refreshes multi-month lows, just below the 0.9400 figure. US headline inflation eases to 8.5% YoY, but the core remains unchanged. Fed’s Evans: The Fed is not done hiking rates; expect the Fed funds to be at 3.25-3.50% by year-end. The… Read More »
USD/CAD plummets after hitting a daily high near the 1.2900 mark. July’s US Consumer Price Index (CPI) slows to 0% MoM. Despite US inflation data, ING Analysts expect the Fed to hike 75 bps in September. Fed’s Evans and Kashkari will cross wires late during the day. The USD/CAD nosedives after a softer than estimated… Read More »
US CPI Overview Wednesday’s US economic docket highlights the release of the critical US consumer inflation figures for July, scheduled later during the early North American session at 12:30 GMT. The headline CPI is anticipated to rise by 0.2% during the reported month, down sharply from the 1.3% in June. The yearly rate is also… Read More »
