US Open – 26 January 2023 (Video)
Watch today’s US Open for insights on the latest earning by EV king Tesla, recent inflation surge in Australia, the technical Death Cross in USD/JPY and more
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Watch today’s US Open for insights on the latest earning by EV king Tesla, recent inflation surge in Australia, the technical Death Cross in USD/JPY and more
Watch today’s US Open for insights on this week’s key market themes, upcoming earnings and the technical outlook of NAS100, Netflix and other assets
Last week: -Poor retail data and industrial production (PPI) -Fed speakers: Brainard, Harker, Waller: —> rate hikes but Harker, Waller (amongst others) for 25 bps going forward. Blackout period for the Fed. -BoJ: Surprise to markets but not to economists. Kept 50bps defence level on JGBs. Door for normalisation is open. Upgraded CPI forecast for the year. This week: -Chinese markets are closed for the Lunar New Year celebration. -Oil…
Two series released yesterday came in weaker than expected. This raises the fear that the US is already in recession.
Watch today’s US Open for commentary on the upcoming policy decision by the Bank of Japan, as well as the technical outlook of EUR/USD and other assets
Join FXCM senior market specialists, Russ and Nik, as they discuss the hot topics for this week.
Headline CPI printed at 6.5% y/y and core inflation came in at 5.7%. Core CPI was 0.3% m/m, which equates to 3.7% y/y, but the series is moving in the right direction. The market is now pricing in a much less aggressive 25bps hike by the Fed for 1 Feb. The shelter index showed an acceleration, coming in at 0.8% m/m, higher than November’s 0.6% m/m. However, with the housing…
Watch today’s US Open for insights on the latest themes driving the markets, the Golden Cross of EUR/USD and more
- Friday’s NFP. - Job data shows deceleration in job growth, moderation in wages, participation rate ticked up. - Services PMI. - PMI shows contraction. US is a service-based economy. First time since June 2020 it contracted. - Factory Orders biggest decline since June 2020. - FOMC minutes were hawkish, no member sees rate cut this year. - December CPI is released on Thursday. Most likely moderated, but all eyes…
The latest Personal Consumer Expenditures (PCE) figures came out today and showed that inflation continued to moderate in November
Fed raised by 50bps. Less aggressive, but higher TR upped to 5.1 (4.6). Fed chair was hawkish. ECB even more hawkish than Fed. 50bps ongoing and QT announced. Hawkish ECB is a more convincing case — more ground to cover, but more difficult to deliver because of the fractious nature of the bank. BoE delivered 50 bps and was the least hawkish of the three. There was a three-way split:…
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