Last week’s shopping package Yesterday, the economic calendar was easy, starting from Switzerland’s KOF economic barometer, which showed good progress this month, followed by Spain’s consumer inflation CPI (Consumer Price Index). Inflation in Spain rose to 5.8% this month, while German GDP showed a 0.2% drop in economic activity for Q4. Mostly forex majors traded … Read more
Yesterday’s shopping package The market’s focus shifted to Jerome Powell after the US dollar weakened following the ISM service cut last Friday, although he did not touch on monetary policy and rate hikes. Traders took that as a reassuring sign that the US dollar continued to decline on Tuesday, while risk assets continued their bullish … Read more
Last week’s shopping package Last week was supposed to be quiet, after the last major events for 2022 took place in the previous two weeks, with the US consumer inflation report and rate hikes from several central banks, which ultimately left markets uncertain. However, we were wrong as the volatility seems to continue until the … Read more
Yesterday’s shopping package The US dollar continued its mid-week decline as the FOMC minutes sounded a bit hawkish as the US manufacturing PMI fell last week. Although volatility eased over the weekend, US markets were closed for the Thanksgiving holiday. But volatility picked up yesterday and the US dollar continued to slide, falling nearly 2 … Read more
Last week’s shopping package Last week, central banks began to reduce the rate of interest, as in recent weeks. The US mid-term congressional elections took place, which helped to improve the mood, although still inconclusive. Chinese authorities have signaled the opposite as they closed down Guangzhou, commenting on the re-opening and bringing in and ending … Read more
Yesterday’s shopping package The US dollar has been showing weakness recently as central banks begin to cut rates and risk sentiment improves, using riskier assets. Although the US dollar bounced back ahead of the US CPI (Consumer Price Index) report yesterday in the European session, shaking markets. Traders enter the inflation report with a binary … Read more
Last week’s shopping package The main event for traders last week was the meeting minutes from the Fed. Expectations were some hawkish comments on the previous 75 bps rate, which is a slower rate, but there were no comments in favor of the US dollar. Vulnerability turned negative in financial markets, even as risk assets … Read more
Yesterday’s shopping package Yesterday was one of those summer days, liquidity is thin and volatility is very low. It was a quiet day overall, with the economic calendar fairly light, except for preliminary unit labor costs for Q2, which were very high. We’ve seen some bearish action on crude oil as uncertainty surrounding Iran’s exports … Read more
Last week’s shopping package After the volatility we saw last week, with the ECB raising interest rates by 0.50% and the retreat of the US dollar eliminating the possibility of a 100 bps rate hike by the FED, markets turned their attention to the FOMC meeting this Wednesday. Everything was quiet yesterday with traders undecided … Read more
Yesterday’s Market Pack This was a bank holiday in the United States, which meant that the US markets were closed yesterday, so it was very quiet. Most major currency pairs end where they start after jumping up and down. Commodities such as gold, silver, and crude oil have made some good gains, although the main … Read more