Daily Market News by Xtreamforex.com

Page 60 of 70 FirstFirst ... 10505859606162 ... LastLast
Results 591 to 600 of 698

Thread: Daily Market News by Xtreamforex.com

  1. #591
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default Inflation rate of 8.8% expected in August 2022

    Daily Market News by Xtreamforex.com
    The statistics released from 30th August turned out to be quite close to market expectations. The harmonized consumer price index in Germany, was 8.8% with the forecast of 8.8%. The consumer price index in the Eurozone amounted to 9.1% instead of expected 9.0%.The index of business activity in the US manufacturing sector did not change at all over the month and amounted to 52.8, and the number of new jobs created outside the American agriculture sector did not go far from the expected either, 315k against 300k. As a result EUR/USD was moving along the equality line of 1.0000 whole week, fluctuating in the range of 0.9910-1.0078, and completed the five day period at the level of 0.9955.

    The key day will be 8th September when the ECB will decide on the deposit rate and make a statement and comments on its monetary policy. Inflation in the Eurozone rose even more in August: from 8.9% to 9.1%. Many experts believe that the European regulator will raise the rate by 75 basis points at once.

    Read More : Daily & Weekly Analysis On Xtreamforex

  2. #592
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default Liz Truss Defeats Rishi Sunak To Become New UK PM

    Liz Truss will become the new UK prime minister on Tuesday after defeating Rishi Sunak in the Tory leadership contest today. The result was closer thank many people had expected, with Truss taking 57% of votes cast. The markets hardly reacted to the news, not least because the outcome was expected.

    While we now know who the new PM will be, the economy will still face significant challenges with several quarters of negative growth upon us amid the energy crisis and soaring inflation. Will the market put its trust on Truss to deliver the goods the economy badly needs ?

    Truss pledged to deliver a bold plan to tackle soaring energy costs and is understood to be considering a freeze on energy bills. But this will by no means be a walk in the park for Truss. She will have to keep a tight fiscal line while trying to tackle the energy and cost-of-living crisis. Trussís supposed 100bn pound scheme to limit energy price rises might provide some relief in the short-term, but someone will have to pay for it. Unfortunately, it will be the taxpayers.

    Read More : Daily & Weekly Analysis On Xtreamforex

  3. #593
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default Australiaís economy grew strongly earlier this year

    The national accounts released today showed the Australian economy in the second quarter expanded by a solid 0.9% and 3.6% YoY. Itís the third consecutive quarter of economic expansion for the Australian economy.

    First quarter of re-opened domestic and international borders was behind a substantial rise in consumer spending and net export growth, offsetting weakness in housing and inventories. Exports of goods and services contributed 1.1% points to GDP growth. The rises were broad-based across rural and mining goods and services exports. Exports of services rose 13.7%, reflecting education-related travel as international students returned to Australia.

    Todayís figures coincided with the start of RBAís rate hiking cycle in May and come just one day after the RBA raised rates by 50bps to 2.35%, leaving Q3 as the one that should reveal the impact of the RBAís 225bps of rate hikes to date.

    Read More : Daily & Weekly Analysis On Xtreamforex

  4. #594
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default USD/CNH Ė US Dollar Chinese Yuan Offshore News

    Another news from China which is not good. It is nationís trade disappointing figures expectation. The yuan fell further, USD/CNH to almost 7.0000. The poor imports figure in particular raised concerns about how weak the Chinese economy has become as it faces troubles. These include the ongoing COVID-related lockdowns and a property sector which has collapsed under the weight of debt. When China sneezes, the world usually catches a cold- and thatís precisely how the markets have reacted so far.

    Chinaís exports and imports figures were well short of expectations, pointing to weakening domestic and foreign demand. Imports were up just 0.3% on the year in August, a sharp fall from the +2.3% annul reading recorded the month before. Exports were +7.1% y/y again sharply lower compared to 18.0% recorded in July.

    USD/CHN has been rising steadily as monetary policy divergence between the US and China continues to grow. Whereas the Fed is tightening its belt with aggressive rate increases, the PBOC was recently been forced to cut interest rates as data showed the economy was losing steam due to renewed Covid lockdowns and a deepening property downturn. But with the yuan weakening so significantly, the PBOC has tried to stem its decline by using other tools including stronger fixings for the yuan and this week it trimmed forex reserve ratio to 6% from 8% in a bid to support its currency.

    Read More : Daily & Weekly Analysis On Xtreamforex

  5. #595
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default Unease Market on Inflation Expectations

    Second quarter GDP for Australia met the marketís expectation at 0.9%, 3.6%yr. As expected, household consumption drove growth in the quarter, consumptionís strong 2.2% gain in the 3 months to June coming as a result of the economyís progressive re-opening and as spending was supported by both robust nominal income gains and a further reduction in the savings rate. In coming months households will feel the full effect of the rapid rise in interest rates and the hit to real incomes from historic inflation, limiting further upside. We continue to expect from historic inflation, limiting further upside. We continue to expect consumption growth to decelerate to a pace well below trend form fourth quarter 2022 through end of 2023, taking GDP growth with it. At December 2023, annual GDP growth is expected to have slowed to just 1.0%yr.

    Over in the US, this weekís mixed data highlights the variable conditions faced by businesses across the nation. The ISM services PMI edged higher in August; however respondents seemed cautions on the outlook, with the production and new order indexes printing above 60 as employment held around 50- the divide between expansion and contraction.

    Read More : Daily & Weekly Analysis On Xtreamforex

  6. #596
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default EUR/USD faces barricades around 0.9863, focus shifts to US Inflation data

    The past week was marked by two important events. The EUR/USD pair updated its 20-year low on Tuesday, September 6th once again, falling to 0.9863. And then the European Central Bank raised its key interest rate for the first time in its history by 75 bps to 1.25% on Thursday, September the 8th, accompanying this act with very hawkish comments.

    Both the events did not come as a surprise to the market and on the whole, were in line with the forecasts that we voiced in the previous review. The pairís rebound to the upside following the ECBís decision was not surprising either. Having risen by about 250 points, it peaked at 1.0113 on September 9. This was followed by a correction to the north, and the pair finished at 1.0045 .

    Read More : Daily & Weekly Analysis On Xtreamforex

  7. #597
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default Silver outshines gold as dollar slips | Xtreamforex

    The new week has started with a bang for risk-sensitive assets, including stocks and metals. Silver had risen around 5% so far on the day, and was leading other metals higher. Gold was also up, but not as impressively as silver, with the yellow metal looking to build a base above the $1725 short-term pivotal level. Similarly, the EUR/USD and GBP/USD were up around 1% on the day.

    Whether the metals can kick on from here or go in reverse depends almost entirely on the direction of USD. It will face a big test on Tuesday with the release of US CPI data which is surely going to be the main focal point for the week. Headline CPI is expected to have cooled to 8.1% on an annual basis from 8.5% in the previous month. Core CPI, which excludes food and energy, is seen accelerating to 6.1% from 5.9% last.

    Regardless of the CPI prints, the Fed is almost certain to deliver another jumbo-sized, 75-basis-point, rate hike next week. This outcome seems to be priced in by now, which is why the dollar is on a retreat after making solid gains in recent months. On Friday, Fed Governor Christopher Waller said he favors another significant increase in interest rates at the September meeting, something echoed by James Bullard.

    Read More : Daily & Weekly Analysis On Xtreamforex

  8. #598
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default What will happen to GBP/USD if the UK surprises with higher CPI?

    US released its August CPI report. The headline was 8.3% YoY and expectation of 8.1% YoY and a July reading of 8.5% YoY. Headline inflation is decreasing. However, the Core CPI print for August was 6.3% YoY vs an expectation of 6.1% YoY and a previous reading of 5.9% YoY. After the release of the data, the USD shot higher, pushing GBP/USD lower by nearly 150 pips near 1.1530.

    Can a similar situation occur tomorrow for the UK when it releases its own August CPI data ? The headline print is expected to be 10.2% YoY vs a July reading of 10.1% YoY. In addition, the Core CPI is expected to be 6.3% YoY vs a 6.2% YoY reading in July. Augustís reading was the highest since February 1982, the BOE has already told us that it expects CPI to reach as high as 13% in October and that the UK economy will enter a recession in Q4. Therefore, unlike that of the US in which Fed is not expecting a recession, higher CPI readings shouldnít do as much damage to the GBP to the FTSE, as markets are already pricing in an element of higher inflation and lower growth.

    Read More : Daily & Weekly Analysis On Xtreamforex

  9. #599
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default New Zealand Q2 GDP Beats Expectations

    New Zealandís GDP rebound by 1.7% in the second quarter, close to the forecast and the RBNZís expectation. Services grew strongly as tourists started to return. New Zealandís GDP rose bu 1.7% on the June Quarter, much in line with 1.6% forecast, as well as the 1.8% rise that the Reserve Bank expected in its August Monetary Policy Statement. In contrast, the result beat the median market forecast for 1% rise.

    The bounce in the second quarter followed a 0.2% dip in the first quarter. Assessment at the time was due ti disruptions to activity from the peak of the Omicron wave, and the absence of the usual uplift in tourist spending at that time if year. Both of those effects were reversed out in the second quarter; the border reopening led to a strong lift in tourists during what would normally have been the seasonal lull.

    Read More : Daily & Weekly Analysis On Xtreamforex

  10. #600
    Senior Member
    Join Date
    Oct 2015
    Location
    Ajeltake Island, MH96960 Majuro, Marshall Islands
    Posts
    749
    Thanked: 0

    Default US Dollar Japanese Yen (USD JPY) Analysis | Xtreamforex

    in ro ham eslah kon:
    The Japanese Yen is on a wild ride lately. But there were some surprise moves earlier, an explanation of these moves could give some explanation on whether or not the USDJPY has hit a ceiling. There are some important implications for the future of the yen, and something traders need to be very careful.

    The yen has been weakening generally because the BOJ isnít raising rates while other central banks are raising. The BOJ isnít likely to raise rates in the foreseeable future, which makes the currency ripe for carry trading. The USDJPY spiked higher after US CPI figures came out, because of speculation of an even stronger move by the Fed at the upcoming meeting.
    Couples of decades ago the pair moved to similar levels, prompting a response from authorities. In that case, the pair got up to 147.00 and there was joint action from the US and Japan
    .
    The Bank Of Japan does conduct the operation, but itís at the direction of the Ministry of Finance, who pay for the move. The BOJ will buy yen on the market in a very large volume, enough to push the exchange rate down by several thousand pips all at once. The move is not pre-announced, and can happen more than once. The idea is precisely to keep the market from trying to push the pair up by burning out many of the long positions, and threatening to repeat at any moment.

    Read More : Daily & Weekly Analysis On Xtreamforex

Similar Threads

  1. Daily Forex News By XtreamForex
    By xtreamforex26 in forum Daily Market Analysis
    Replies: 0
    Last Post: 01-15-2019, 10:49 AM
  2. Daily Forex News By XtreamForex.com
    By xtreamforex26 in forum Daily Market Analysis
    Replies: 0
    Last Post: 01-14-2019, 11:59 AM
  3. FxNet Daily Market News
    By FxNet in forum Daily Market Analysis
    Replies: 10
    Last Post: 04-19-2016, 11:41 AM
  4. Daily Market News By FXNET.com
    By FxNet in forum Daily Market Analysis
    Replies: 61
    Last Post: 03-24-2016, 02:11 PM
  5. Daily Market News
    By hoangtri in forum Daily Market News
    Replies: 4
    Last Post: 01-04-2016, 03:37 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Join us