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The commodity jumped on Friday after Russia said it will cut output next month, but dropped on Monday as the US announced a sale of its reserves (SPR), with markets now bracing for the US Inflation update
The pair made a strong start to the week and trades mixed after the UK employment report, as markets brace for CPI inflation updates from the US today and the UK tomorrow
The European Commission upgraded its 2023 growth forecast, but the pair is little changed, as markets brace for the latest CPI inflation data from the US on Tuesday
During the current week of February 6-10, we had high-profile companies such as Disney, reporting their quarterly results, while tech giants threw their has into AI chatbot arena to rival ChatGPT
The entertainment giant lost 1 million subscribers in the last quarter and announced a restructuring plan, which includes cost and jobs cuts
Fed Chair Powell provided mostly hawkish remarks yesterday, but once again did not appear forceful, allowing XAU/USD to cover some of its post-NFPs slump
Chair Powell’s speech sparked two-way action and consolidated the recent market-alignment with the Fed’s projected terminal rate, but we did not really get anything that new nor overly hawkish and NAS100 retains its bullish bias
Watch today’s US Open for commentary on the blockbuster US jobs report, the recent central banks blitz and the impact on EUR/USD, NAS100 and other asserts
The central bank of Australia delivered another 0.25% rate increase, after the recent surge in inflation, pointing to more tightening in the upcoming months
After Friday’s blowout employment report, markets are now pricing a higher Fed terminal rate, which weighs on the stock market, along with recent mostly poor tech earnings and US-China tensions
The US economy added 517,000 jobs in January and unemployment dropped to new five-decades low, which strengthens the Fed’s view on the appropriate policy path and sent the pair lower on Friday
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