Share: Major equity indexes in the US trade mixed after opening in positive territory. Retail Sales in the US declined by 0.8% in January. Technology stocks underperform and weigh on Nasdaq Composite. The S&P 500 (SPX) index rose 0.58% to … [Continue reading]
Canadian Dollar finds some room after US Retail Sales miss overshadows Canadian Home Sales decline
Share: Canadian Dollar recovers ground on US data print. Canada sees low-impact data for the back half of the trading week. Crude Oil markets are in recovery mode, bolstering Canadian Dollar. The Canadian Dollar (CAD) found itself on the high side … [Continue reading]
Near-term support to GBP set to fade – Danske Bank
Share: The Pound Sterling (GBP) has benefitted from a sharp repricing of the Bank of England. Economists at Danske Bank analyze EUR/GBP outlook. Relative growth outlooks and broad central bank pricing to weigh on GBP Over the past month, EUR/GBP … [Continue reading]
FX option expiries for Feb 15 NY cut
Share: FX option expiries for Feb 15 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - USD/JPY: USD … [Continue reading]
USD/CAD moves sideways after recent losses, clings to 1.3540
Share: USD/CAD treads water to hold ground post recent declines. The decline in the WTI price weighs on the Canadian Dollar. Fed’s Goolsbee suggested that the Fed may consider rate cuts despite upbeat consumer prices. USD/CAD makes an effort to … [Continue reading]
NZD/USD posts modest gains below 0.6100 ahead of US Retail Sales data
Share: NZD/USD holds positive ground near 0.6085 amid the USD weakness. Fed’s Goolsbee said that higher inflation for a few months would still be consistent with a path back to the 2% target. RBNZ’s Orr said the inflation challenge was not over and … [Continue reading]
US Dollar trades lower as investors pocket profits from CPI gains
Share: The DXY Index recorded losses in Wednesday’s session, falling toward 104.70. Investors are taking profits from Tuesday’s rally following CPI. Focus now shifts to Retail and PPI data from January. The US Dollar (USD) measured by … [Continue reading]
Natural Gas down in a losing trend with both near term and longer term outlooks bleak
Share: Natural Gas in its eighth day of consecutive losses. Traders are sending Gas prices already 20% lower since the start of February. The US Dollar Index roared on the back of red-hot inflation, consolidating gains this Wednesday. … [Continue reading]
EUR/USD faces challenges after robust US Inflation, consolidates near 1.0700
Share: EUR/USD lost ground as US Dollar surged after the release of solid US CPI data. The Euro received upward support from the improved Economic Sentiment data. FedWatch Tool suggests 37% and 51% probability of a 25 bps rate cut by the Fed in May … [Continue reading]
Gold price remains vulnerable near two-month low, bears flirt with 100-day SMA support
Share: Gold price hits a fresh two-month low amid bets that the Fed will keep rates higher for longer. The expectations were reaffirmed by the stronger-than-expected US CPI released on Tuesday. A softer risk tone could lend support to the … [Continue reading]