News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/6cn6OK6M7w
  • RT @Stephanie_Link: 84% of $SPX companies have beaten EPS estimates to date for Q3, which is tied for the 3rd highest percentage since 2008…
  • What is #NFP and how can you trade it? Find out: https://t.co/XJWS04IF9j https://t.co/iV9lPzPDtc
  • What does it mean when one candle fully engulfs the previous in its price action? The bullish engulfing candle is one of the forex market?€?s most clear-cut price action signals. Figure out how to identify this pattern here: https://t.co/Yg6ecRZZNr https://t.co/3J0xXp4axT
  • Oil maintains a medium-term bullish outlook, but its overbought condition and price's proximity to key technical resistance may pave the way for a brief pullback before the next leg higher. Get your weekly oil forecast from @DColmanFX here: https://t.co/sv2bMc34gI https://t.co/DDIoe4VhZ3
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/P3SduerCFF
  • The update to the US GDP report may keep the Greenback under pressure as signs of a slowing recovery undermines speculation for an imminent shift in Fed policy. Get your weekly USD forecast from @DavidJSong here: https://t.co/xvLr1bLfZG https://t.co/aQnOIoUM9t
  • There a many different trading styles that can be applied to trading forex. Learn about different types of traders here: https://t.co/xfzRCzuuKK https://t.co/GXxdkNEeCg
  • Hang Seng Tech Index has likely formed a bullish “Inverse Head and Shoulders” chart pattern. Immediate support and resistance levels can be found at 5,800 and 7,433 respectively. Breaching above 7,433 would likely bring 8,266 into focus. https://t.co/VsavFLj97V
  • The Nasdaq 100 index has likely formed a bullish “Butterfly” chart pattern, which hints at further gains. The MACD indicator is about to form a bearish crossover, suggesting that upward momentum may be weakening and thus vulnerable to a short-term pullback. https://t.co/J0PFLYzXR1
USD Lifted, Gold Dips on Upside Inflation Surprise

USD Lifted, Gold Dips on Upside Inflation Surprise

Justin McQueen, Strategist

USD, CPI Price Analysis & News

  • US CPI Above Expectations, Core CPI In-Line
  • USD Picks Up, Gold Dips

US Core CPI Falls Short of Expectations

DATA RECAP: The headline rate rose 0.4% on the month, taking the yearly rate to 5.4%, both figures 0.1ppt above expectations. The core reading, however, matched estimates at 0.2% m/m and 4.0% y/y. Interestingly, more sticky components such as shelter costs rose 0.2ppts to 0.4%. Meanwhile, transitory factors such as airline fares, used cars and apparel continued to slide.That said, with the headline rate printing above expectations, this will likely reaffirm the view that inflation is not as transitory as markets and central banks had initially anticipated.

US Inflation Components

USD Lifted, Gold Dips on Upside Inflation Surprise

Source: BLS

How to Trade After a News Release

MARKET REACTION: Given the current market narrative of rising stagflation concerns, the market reaction to the release was on the whole subdued. The USD did pick up alongside US yields with gold prices dipping from intra-day highs. Now while this release will have little baring for the upcoming taper announcement, eyes are now turning towards Fed rate hikes in 2022, which as it stands, lift-off is fully priced in by November 2022. Looking ahead, eyes will be on the FOMC minutes.

USD, US RATES & GOLD REACTION TO US CPI

USD Lifted, Gold Dips on Upside Inflation Surprise

Source: Refintiv

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES