Economists at TD Securities expect the pair to trade below the 140 level. Economist at UOB Group Ho Woei Chen assesses the recent set of data releases in Forex the Chinese economy. Kit Juckes, Chief Global FX Strategist at Société Générale, discusses the latest news and the outlook for the main currency pairs.
Russian-made missiles killed two people in the European nation bordering Ukraine and amplified geopolitical fears due to its status as a member of the North Atlantic Treaty Organization . Recently, United States President Joe Biden mentioned that based on the trajectory, it is unlikely that missiles fired from Russia. Mixed concerns over Russia’s involvement Forex news in missiles attack on Poland entertained markets of late. The above comments have little to no impact on the AUDUSD pair, as it keeps its range at around 0.6750, almost unchanged on the day. Apart from that easing of Covid-19 protocols and supporting measures to curb the vulnerable real estate situation in China has also supported the antipodean.
Key trigger ahead is United States Retail Sales data
It’s been quite a choppy start to the trading week, with much of the focus on China where Covid rela… OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. The British pound has reversed directions on Tuesday and posted sharp gains. The U.S. House Financial Services Committee https://www.ig.com/en/forex/what-is-forex-and-how-does-it-work plans to hold a hearing in December on the collapse of cryptocurrency exchange FTX. However, the ECB Consumer Expectations Survey and analysis pressured the EUR early. It has been a bearish morning for the EUR/USD, with the ECB Economic Bulletin highlighting the economic pitfalls of bringing inflation to target.
As per the CME FedWatch tool, chances for a 75 bps rate hike have tumbled below 15%. S&P500 futures are displaying losses in Tokyo after a wild gyration on Tuesday. It seems that geopolitical tensions are weighing on the 500-stock basket. Also, the release of the US Retail Sales will Cryptocurrency Broker DotBig keep the index futures on the tenterhooks. According to the preliminary estimates, the economic data will improve to 0.9% vs. the former release of 0%. Robust demand in times of accelerating interest rates and a decline in the inflation rate in October could delight the DXY.
U.S. Business Inventories Rise Slightly Less Than Expected In September
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The headline Consumer Price Index is seen extremely higher at 10.7% vs. the prior release of 10.1%.
- Tether is joining Ethereum as a cryptocurrency that can be deposited/withdrawn by the MCA clients directly from/to their crypto wallets.
- Alternatively, softer US data and the Federal Reserve policymakers’ assent to the market’s 50bps rate hike concerns seem to challenge the pessimists.
- The outcome of the meeting will provide a fresh impetus for further action.
- The alpha on long-term United States bonds has rebounded to 3.80% after Federal Reserve policymakers sounded solid for further policy tightening by the United States central bank.
Today, investors will pay close attention to October Consumer Price Index figures from Canada. https://cryptogeek.info/en/blog/dotbig-broker Economists at Commerzbank discuss how the Loonie could react to the inflation report.