AUD prices have held onto yesterday’s gains with some positive Chinese data as well as high wage growth locally.
Headline CPI dropped massively as energy and food prices see large declines. UK government achieves its target of halving inflation ahead of next week’s Autumn Statement
This article focuses on the technical outlook for EUR/USD, GBP/USD, Nasdaq 100 and gold, taking into account the key price levels in play following the explosive market moves in the wake of weaker-than-expected U.S. inflation data.
CPI was the latest US data point to turn lower, following a developing trend since the softer October jobs print. The USD selloff weighs on USD/JPY while GBP/JPY eyes resistance
OPEC and the IEA have both upped their oil-demand forecasts while US inflation report bolsters hopes that rates will stay on hold
U.S. headline CPI eased to 3.2 % year-on-year in October, down from September’s 3.7%, a slow but welcome directional improvement for the Fed, which targets an inflation rate that averages 2.0% over time.
The latest US inflation report will be released later in the session and is expected to show that price pressures are easing. Will this be enough to send gold back towards $2,000/oz?
The euro attempts to grind higher in a week filled with Fed speakers and the potential for a continuance of softer US data (CPI, retail sales). Yen depreciates further
Indices have turned cautious as the key event of the week, US consumer price inflation, looms large on the calendar today.
GBP prices rallied despite a fall in employment change as unemployment and average earnings stole the show. Pound remains bid.