US Open– 07 March 2023 (Video)
Watch today’s US Open for insights on the dovish hike by the Reserve Bank of Australia, persistent hawkish commentary by ECB officials and more, as markets brace for Fed Chair Powell’s Congress testimony
Page 8 of 46
Watch today’s US Open for insights on the dovish hike by the Reserve Bank of Australia, persistent hawkish commentary by ECB officials and more, as markets brace for Fed Chair Powell’s Congress testimony
The current housing starts index is weak. It is below its 3-month moving average and heading down. Its RSI is on the bearish side of 50.
The RBA delivered another 25 bps rate increase, but provided a more tame outlook compared to the previous hawkish statement, suggesting the end of the tightening cycle may be near
FXCM senior market specialist, Russ and Nik, discuss several key events for the week. Fed Chair Powell will testify in front of the Senate (Tues) and House (Wed). The market will be eager to hear any hints on rate hikes or the terminal rate. This Friday the jobs data for February will be released. Last data point was a big surprise higher and the market will look here in anticipation.…
China has set a slower-than expected GDP growth target of 5% for this year. The target for last year was 5.5%, but actual GDP growth was only 3%, the second slowest since the 1970s, the Associated Press reported.
Watch today’s US Open for commentary on the recent hotter than expected US PCE inflation, the EU/UK trade agreement over Northern Ireland and more
Join FXCM senior market specialists, Russ and Nik, as they discuss the themes driving the markets for this week. In this podcast, the two analysts discuss the Fed minutes that were released last week and how they differed from Fed Chair Powell’s press conference. Core PCE also came in ahead of expectations, with inflation being a primary driver. Join the discussion for these and more.
Yesterday’s GDP data show that the US economy decelerated at a higher pace than previously reported. Q4 GDP was revised to 2.7%, which is down from the previously reported number of 2.9% and lower than Q3’s 3.2%. The revision is due to lower consumer spending and exports, with personal consumption expenditure up 1.4% compared with the prior forecast of 2.1%.
Watch today’s US Open for commentary on Nvidia’s AI-boosted forward guidance, the FOMC minutes and yesterday’s RBNZ policy decision
The FOMC minutes show that the Fed sees a slowing of inflation, which may support a peak in the federal funds rate this year. However, the minutes were penned before notable data. January’s jobs report was strong, showing an increase of 517,000 in nonfarm payrolls. Inflation was also higher than consensus, with the headline CPI printing at 0.5% m/m.
The RBNZ delivered a smaller hike than the previous record 0.75% move, but remained hawkish and maintained its view that more tightening is needed
Risk Warning: Trading Margin FX/CFDs carries a high level of risk, and may not be suitable for all investors. Leverage can work against you. By trading, you could sustain a total loss of your deposited funds but wholesale clients could sustain losses in excess of deposits.
Exchange: ${getInstrumentData.exchange}
${getInstrumentData.bid} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.