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Japan's Core Consumer Price Index Shows a Slight Decrease to 2.6% in March 2024

Apr 18, 2024 | 21:30 pm

Japan's National Core CPI for March 2024 has been updated, indicating a slight decrease from the previous month. In February 2024, the indicator stood at 2.8%, but in March 2024, it decreased to 2.6%. The Core CPI measures the changes in the price of goods and services, excluding fresh food, providing insight into inflation trends. This data is crucial for policymakers and economists to assess the country's economic health and adjust monetary policies accordingly. The Year-over-Year comparison reveals that despite the slight decrease from the previous month, there has been an overall increase compared to March of the previous year. The update on Japan's Core CPI was released on 18 April 2024, shedding light on the country's economic performance in the recent period.The material has been provided by InstaForex Company - www.instaforex.com

Japan's National Consumer Price Index Sees Slight Dip in March

Apr 18, 2024 | 21:30 pm

In the latest economic update from Japan, the country's National Consumer Price Index (CPI) for March 2024 has shown a slight decrease compared to the previous month. The CPI for March 2024 came in at 2.7%, down from the 2.8% recorded in February 2024. This data, reflecting a year-over-year comparison, indicates a minor dip in consumer prices over the past month.The update, released on 18 April 2024, reveals the ongoing fluctuations in Japan's economic landscape. The CPI is a key indicator of inflation and consumer spending trends, providing valuable insights into the country's economic stability. As Japan continues to navigate through various economic challenges, monitoring the CPI will be crucial in understanding the overall impact on the nation's financial well-being. Investors and policymakers alike will be keeping a close eye on future CPI updates to gauge the direction of Japan's economy.The material has been provided by InstaForex Company - www.instaforex.com

Japan's CPI Rises Slightly by 0.3% in March 2024

Apr 18, 2024 | 21:30 pm

The latest data release shows that Japan's Consumer Price Index (CPI) saw a slight increase of 0.3% on a non-seasonally adjusted basis in March 2024. This rise comes after the CPI remained unchanged at 0% in February 2024. The comparison, which is month-over-month, reveals this incremental growth in consumer prices. The updated information, released on 18th April 2024, indicates a small but notable uptick in inflation levels in Japan. This development will be closely monitored by economists and policymakers to assess its impact on the overall economic landscape of the country.The material has been provided by InstaForex Company - www.instaforex.com

Japan's National CPI Sees Slight Increase of 0.2% in Latest Data

Apr 18, 2024 | 21:30 pm

Japan's latest data on the National Consumer Price Index (CPI) shows a small increase of 0.2%. The previous indicator had remained unchanged at 0%. The comparison period for the data is month-over-month, with the update reported on 18 April 2024. The National CPI is a key economic indicator that measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. This slight uptick in the CPI could indicate a mild inflationary pressure in the Japanese economy, which policymakers will continue to monitor closely for any potential impact on monetary policy and consumer spending trends.The material has been provided by InstaForex Company - www.instaforex.com

Now we know why markets plumeted mid-day

Apr 18, 2024 | 19:40 pm

Now we know why US equities took a dive midday.Bloomberg's Jennifer Jacobs reports that Israeli officials notified the US earlier today they planned to retaliate in the next 24-48 hours, citing sources.I'm going to guess the notice was given right around 11 am New York time: This article was written by Adam Button at www.forexlive.com.

Gold Price Forecast: XAU/USD rises above $2,410 after reports of Israeli attack on Iran

Apr 18, 2024 | 19:32 pm

Gold price surges to nearly $2,410 per troy ounce during the Asian session on Friday.

WTI surges to $85.00 amid Israel-Iran tensions

Apr 18, 2024 | 19:29 pm

Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $85.00 on Friday.

Now we wait for the response to the response

Apr 18, 2024 | 19:25 pm

Watching this unfold in real time, I've been amazed at how slowly this has all be disseminated. These tweets from two of the biggest news services are literally an hour after we first started reporting on this attack.I think the slow reporting has something to do with the slow legs down in the market. The moves seem to fizzle out and then get fresh legs when there are new reports of news that's an hour old.You also have to take into account that this is all happening late in New York and overnight in Europe, so phones are ringing all over the world and some people are certainly more worried about a real war than others.So where do we stand? Now it's time to wait and see how Iran responds. From what I've heard, this looks like just a single strike (likely with multiple bombs, probably 3) on a site in Iran, likely a military site not a nuclear one. That's my best guess. The question is whether it was designed to kill people on the base or just as a show of force.Even if there are some casualties, I would think that Iran could stand down but you never know. Best would be if no one was hurt but it might be a few hours before we can figure that out. This article was written by Adam Button at www.forexlive.com.

Nasdaq, S&P 500 Extend Losing Streaks To Five Days

Apr 18, 2024 | 19:16 pm

On Thursday, stocks slipped after an initial upturn faltered. The major averages ended the day short of their best levels, notably the Nasdaq and the S&P 500 which closed in the red. The technology sector particularly contributed to this low performance with the Nasdaq falling 0.5 percent to 15,601.50 and the S&P 500 losing 0.2 percent to settle at 5,011.12. By contrast, the Dow nudged higher by 0.1 percent to 37,775.38.The Nasdaq and the S&P 500's decline marked their fifth consecutive day of losses, hitting their lowest closing levels in nearly two months. Traders' attempts at bargain hunting provided initial Wall Street strength, but the persistence of interest rate worries gradually diminished buying enthusiasm.The Philadelphia Federal Reserve's report, indicating a significant increase in regional manufacturing activity in April, added to the anxiety about interest rates. The Philly Fed's index for current general activity rose to 15.5 from 3.2 in March, surpassing economists' prediction of a 1.5 decline.The report also revealed a jump in the prices paid index from 3.7 in May to 23.0 in April — the highest since December 2023. LPL Financial's Chief Global Strategist, Quincy Krosby, emphasized that this spike underlined the Federal Reserve's inflation-related concerns.A separate Labor Department report showed stagnant U.S. unemployment benefits claims for the week ending April 13th, with initial jobless claims remaining at 212,000. However, Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics, reassured that the "jobless claims remain well below levels that would signal a major slowdown in job growth."Simultaneously, the National Association of Realtors reported a 4.3 percent drop in existing home sales in March, falling to 4.19 million after a 9.5 percent increase to 4.38 million in February.In sectoral news, semiconductor stocks suffered due to poor performance by Taiwan Semiconductor Manufacturing (TSM), even though the chipmaker reported superior first-quarter results. Biotechnology, software, computer hardware, and oil production sectors also experienced a downfall, while airlines such as Alaska Air (ALK), which reported smaller than anticipated first-quarter losses, did well.In global markets, most Asia-Pacific stocks gained, with China's Shanghai Composite Index and Japan's Nikkei 225 Index increasing slightly, and South Korea's Kospi surging by 2.0 percent. Major European markets also advanced with France's CAC 40 Index, the U.K.'s FTSE 100 Index, and the German DAX Index all rising.On Friday, investors' attention may shift towards corporate earnings news, in the absence of any major U.S. economic developments. Streaming company Netflix and credit card giant American Express are set to release their quarterly results.The material has been provided by InstaForex Company - www.instaforex.com

Netflix Inc. Bottom Line Climbs In Q1, Beats estimates

Apr 18, 2024 | 19:14 pm

Netflix Inc. has announced considerable growth in its profits for the first quarter, outperforming market predictions.The company reported a net income of $2.33 billion, which translates to earnings of $5.28 per share. For comparison, in the first quarter of the previous year, Netflix had reported a net income of $1.31 billion, or $2.88 per share.Netflix's first-quarter results exceeded predictions made by industry analysts, who previously anticipated earnings of $4.26 per share, based on data gathered by Thomson Reuters. These predictions usually don't account for extraordinary items.There was also a significant increase in the company's revenue. Over the course of the quarter, the revenue surged by 14.8% from last year's $8.16 billion to $9.37 billion.To summarise the first-quarter earnings report of Netflix Inc. according to Generally Accepted Accounting Principles (GAAP): the net income was $2.33 billion compared to $1.31 billion last year, earnings per share (EPS) amounted to $5.28 compared to $2.88 last year, and revenue stood at $9.37 billion versus $8.16 billion last year.The material has been provided by InstaForex Company - www.instaforex.com

PPG Industries Inc. Q1 Profit Increases, Inline With Estimates

Apr 18, 2024 | 19:12 pm

PPG Industries Inc. has reported an increase in the first quarter earnings in comparison to the same timeframe last year, meeting Wall Street's predictions. This quarter saw the company's net income hitting $400 million, which equates to $1.69 per share, an increase from $264 million, or $1.11 per share, seen in the previous year's first quarter.When discounting for certain factors, PPG Industries Inc. posted adjusted earnings of $441 million, or $1.86 per share, for the period. This aligns with the average analyst expectation of the company earning $1.86 per share, as reported by Thomson Reuters, though the estimations usually don't account for special items.However, the company's revenue experienced a slight drop of 1.6%, dwindling to $4.31 billion from $4.38 billion last year.In absolute terms, the general accepted accounting principles (GAAP) figures for PPG Industries' first quarter earnings are as follows:- Earnings (Q1): $400 million vs. $264 million last year.- Earnings Per Share (Q1): $1.69 vs. $1.11 last year.- Revenue (Q1): $4.31 billion vs. $4.38 billion last year.Looking ahead, the company guides that expected earnings per share for the next quarter might lie between $2.42 and $2.52, while the whole year's EPS forecast is predicted to range between $8.34 and $8.59.The material has been provided by InstaForex Company - www.instaforex.com

Risk-aversion grips financial markets after Israeli missiles strike a site in Iran

Apr 18, 2024 | 19:05 pm

Risk-aversion is in full swing across the financial markets after ABC News confirmed reports that Israeli missiles struck a site in Iran, leading to further escalation in the Middle East geopolitical tensions.

PBoC sets USD/CNY reference rate at 7.1046 vs 7.1020 previous

Apr 18, 2024 | 18:59 pm

The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1046 as compared to the previous day's of 7.1020.

AUD/JPY extends losses after Japan CPI figures amid dovish RBA’s outlook

Apr 18, 2024 | 18:53 pm

AUD/JPY continues to decline for the second consecutive session following the release of Japan's inflation data on Friday.

USD/JPY drops below 154.20 amid Middle East war fears

Apr 18, 2024 | 18:52 pm

The USD/JPY pair attracts some sellers around 154.15 on Friday during the early Asian trading hours.

Risk assets leg further down on confirmation of strikes in Iran

Apr 18, 2024 | 18:49 pm

To be honest, I'm a bit surprised at the second-leg down in risk assets after headlines from ABC crossed the wires with a US official confirming the attacks. Here's another US official who always likes to share what he knows from classified briefings. I think he's pretty much telling us what happened.This line of attack probably also explains the report of the radar station being knocked out.Gold is at an all-time high and the yen is up 60 pips. I'm inclined to fade this because I think Iran will let it go. Of course, everyone wants to know about damage and potential casualties first. But if it's three strikes on one site, I don't know if that's going to be enough for Iran to start lobbing more missiles.Talk was a nuclear site but it might be a military base: This article was written by Adam Button at www.forexlive.com.

S&P 500 futures fall 60 points on Middle East war fears after explosions

Apr 18, 2024 | 18:36 pm

The market is in 'duck-and-cover' mode but there might be some good news crossing as a US official tells ABC that Isreal conducted a strike on 'a target' in Iran (not multiple targets).So maybe it's light enough to be let go by Iran?Or maybe I'm naive. This article was written by Adam Button at www.forexlive.com.

Federal Reserve's Balance Sheet Shrinks to $7.4 Trillion as of April 18th, 2024

Apr 18, 2024 | 18:30 pm

The Federal Reserve's balance sheet in the United States has decreased to $7.4 trillion as of April 18th, 2024. This marks a decline from the previous indicator of $7.438 trillion. The updated data shows that the current indicator stands at $7.406 trillion, reflecting a reduction in the Federal Reserve's balance sheet. Despite the lack of specific dates for the previous and current events, the latest figures indicate a notable adjustment in the central bank's assets. Investors and economists will be closely monitoring these developments to assess the potential implications for monetary policy and the broader financial markets.The material has been provided by InstaForex Company - www.instaforex.com

Federal Reserve Banks' Reserve Balances Drop to $3.33 Trillion as Updated on April 18, 2024

Apr 18, 2024 | 18:30 pm

The latest data on reserve balances with Federal Reserve Banks in the United States has been released, showing a decrease to $3.33 trillion. This marks a drop from the previous indicator, which had reached $3.616 trillion before the latest update. The information was last updated on April 18, 2024, indicating a significant adjustment in reserve balances within the Federal Reserve system.The shift in reserve balances can have implications for the economy, influencing factors such as lending rates, liquidity in the financial system, and overall monetary policy. Analysts and investors often closely monitor these figures as they can offer insights into the Federal Reserve's actions and the state of the economy. With reserve balances now standing at $3.33 trillion, market participants will be watching closely for any further developments or announcements from the Federal Reserve regarding monetary policy adjustments in response to these changes.The material has been provided by InstaForex Company - www.instaforex.com

Google Maps To Launch New Features For EV Drivers

Apr 18, 2024 | 18:29 pm

Google has unveiled a fresh update for the Google Maps app, aimed to make locating charging stations easier for electric vehicle (EV) owners. This update is set to offer real-time data about charging ports, their availability, and charging rates.Google plans to utilize artificial intelligence to study customer evaluations of EV chargers, thereby providing users with accurate directions to specific charging stations. This will be particularly useful for those in hard-to-reach areas or inside parking garages.The app will encourage users to share their charging experiences. This feedback will then be interpreted by AI-generated summaries to further enhance the accuracy of charger locations and improve user experience. Users will also be requested to provide details about the type of plug used and the wait time. This data will aid the AI in assisting drivers to pinpoint chargers in challenging locations.When users are on the way to a charging station, Google Maps will furnish detailed directions, including navigation through a parking lot. An exceptional feature of this update is the novel EV filter available on google.com/travel. It helps users to easily find hotels offering on-site EV charging facilities.This international update will initially be rolled out to vehicles with built-in Google in the forthcoming months, offering EV drivers a comprehensive, efficient tool to comfortably plan their trips and locate charging stations.The material has been provided by InstaForex Company - www.instaforex.com

Yen, Swiss franc, oil and gold jump on Middle East war fears

Apr 18, 2024 | 18:21 pm

Well, there were a few days there where it looked like everyone would settle down and no one else would get killed.I guess we were all naive. Israel appears to be striking Iran and at this point, the best we can hope for is that the damage is minimal and casualties are low or zero. And then we go back to hoping that Iran doesn't return fire.Signs are pointing to the closure of Iranian airspace but so far markets aren't freaking out too much. That could change quickly once we see the size and scope of the response.WTI crude oil is up 2.4%, trading at $84.60.Generally the trade here is to fade fear. It's worked so far but it works until it doesn't. This article was written by Adam Button at www.forexlive.com.

Isreal appears to be retaliating against Iran, striking possibly three targets

Apr 18, 2024 | 18:07 pm

Reports are coming in:The first is that there was a radar battalion hit in Syria near the city of Izraa.The second is that there are 'explosions' near the city of Isfahan in central Iran. It's a major city of 2.2 million.Finally, there is now talk of intense warplane activity across parts of Iraq.Oil prices are up more than 1%.Update: More reports are coming in of strikes on Iran now with Sky News Arabia citing local media highlighting 3 large explosions in Isfahan, there is also talk of explosions in Natanz, Iran.It appears the strikes in Syria and Iran may both be from Iran. This article was written by Adam Button at www.forexlive.com.

The risk mood isn't great in Asia

Apr 18, 2024 | 17:56 pm

What happened?The market party has been raging all year and suddenly everyone has a hangover. The S&P 500 has fallen four days in a row and today the Nikkei is down 2%.The pain is starting to bleed over to FX as well with AUD/USD on the backfoot in early Asia-Pacific trade. If it can clear 0.6388, that will be a new low since November.When you zoom out at bonds and AUD/USD, you wonder if equities are living on borrowed time. April is supposed to be strong seasonally and that hasn't worked out while the seasonals turn in May. Fed cuts are evaporating and it looks like the market could break if Powell says "we may have to hike again". AI is probably holding much of it together and that's justified but still prone to headline risk. The momentum in Nvidia has faded and if we don't get another quarter of sensational earnings, there could be a rush to the exits.What will happen?I think we will be ok. This is probably just a hiccup because the Fed and other central banks will cut and inflation will fall but I can certainly see both sides of the argument and it's looking like a key moment. This article was written by Adam Button at www.forexlive.com.

GBP/USD remains on the defensive below 1.2450 ahead of UK Retail Sales data

Apr 18, 2024 | 17:41 pm

The GBP/USD pair remains on the defensive near 1.2430 during the early Asian session on Friday.

Nikkei gives back all of yesterday's gains in a 1.3% opening decline

Apr 18, 2024 | 17:06 pm

The shine is slowing being taken off a great year for Japanese stocks. Today's decline is 1.3% at the open, erasing the modest gain from yesterday and falling to the lowest since Feb 13.We're also now well-below the 1990 highs.I think in the big picture this will be viewed as a healthy dip after a strong Q1 but it may all hinge on falling US inflation. This article was written by Adam Button at www.forexlive.com.

Argentina's Trade Balance Surges to 2059M in March 2024

Apr 18, 2024 | 17:00 pm

Argentina's trade balance data for March 2024 has been released, showing a significant increase compared to the previous month. The trade balance jumped to 2059M from 1438M in February 2024, indicating a notable improvement in the country's trade performance.This surge in the trade balance is a positive sign for the Argentine economy, suggesting increased export competitiveness or decreased import reliance. The data was updated on 18 April 2024, reflecting the latest developments in the country's trade sector.Investors and analysts will be closely watching future trade balance figures to gauge the sustainability of this upward trend and its potential impact on Argentina's economic outlook.The material has been provided by InstaForex Company - www.instaforex.com

Aussie slides on prospect of US rate hike

Apr 18, 2024 | 17:00 pm

AUD - Australian dollar The AUD is lower this morning having given up a quarter percent amid higher US treasury yields and a hawkish Federal Reserve. Domestic employment data did little to move the AUD with unemployment rate edging higher, up to 3.8%, yet holding onto most of the decline seen in February when the rate fell from 4.1% to 3.7%. If we exclude January as a seasonal outlier the unemployment rate has tracked below 4% through the last two years, suggesting there is resilience within the labour force despite signs employment growth is stalling. This latest print does little to alter market expectations for RBA monetary policy and we are still looking toward a possible cut in Q4. Having tracked between US$0.6440 and US$0.6450, the AUD then fell through overnight trade amid the prospect of a potential US rate hike. Fed policy makers made clear that if inflation remained sticky and the data indicated a rate hike was needed to bring inflation back to target then that is what they would do. Having slipped below US$0.6420 the AUD tracked sideways into this morning’s open and currently trades at US$0.6419. With no domestic data on hand to drive direction we look to Japan CPI and UK retails sales as the only items of note on the macroeconomic calendar. US yields will continue to determine direction and we anticipate the AUD will remain on the back foot next week. Key Movers The US dollar is stronger this morning having reversed losses suffered through trade on Wednesday amid hawkish Fed commentary and a general risk-off tone. Yields pushed higher after NY Fed President and FOMC member Williams suggested another rate hike was not out of the question, stating “monetary policy is in a good place, I am in no hurry to cut interest rates and if the data are telling us that we need higher interest rates to bring inflation back to target then we obviously want to do that”. With USD again on the front foot, the euro slid back below 1.0650, while sterling gave up 1.2450 and the yen again gave up 154.50 and appears poised to break through 155. US treasury Secretary Yellen and the Finance Ministers of Japan and Korea met to discuss the recent and sharp depreciation of the yen and the won, offering a joint statement acknowledging the US would not stand in the way of any official currency intervention. Upon release of the statement the yen tracked higher, but Treasury yields carried the day and the USD recovered losses and is back near 154.70 on open this morning. Our attentions turn now to Japanese CPI data and UK retail sales data as the only tier one data headlining an otherwise quiet macroeconomic calendar. Expected RangesAUD/USD: 0.6380 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9250 - 1.9500 ▲AUD/NZD: 1.0820 - 1.0920 ▼AUD/CAD: 0.8800 - 0.8900 ▼

It's slow going so far in Friday's Asia-Pacific trading

Apr 18, 2024 | 16:48 pm

The FX market is moving at a snail's pace in Friday trade so far. That should change with Tokyo now ramping up for the final day of the week. Moves have been limited to 2-3 pips so far the US dollar generally strengthened in New York trade. The S&P 500 fell for the fourth day in a row in the worst losing streak since October and the after-hours market wasn't helped by a 5% drop in Netflix shares post-earnings.Nikkei futures are down 1.2% in early trade.I'll be keeping a close eye on Asian bids for gold today after solid gains yesterday. This article was written by Adam Button at www.forexlive.com.

Canadian Market Down Marginally In Cautious Trade

Apr 18, 2024 | 16:45 pm

Canadian stock markets were somewhat inconsistent on Thursday afternoon, as investors generally kept a cautious stance and avoided major maneuvers.Certain sectors, such as consumer staples, were demonstrating weakness, but material shares were finding solid backing. Most other sectors, however, were relatively quiet.The fundamental S&P/TSX Composite Index registered a minor decline of 29.22 points or 0.12%, hitting 21,626.83. Around late morning, it had peaked at 21,799.35.Canopy Growth Corporation experienced a significant surge, soaring nearly 22%. First Quantum Minerals also saw robust gains, rising by about 10%.Other stocks on the rise included ATS Corporation, which was up 6.3%, and Rogers Communications with a solid 3.6% increase. Morguard Corporation, Teck Resources, Agnico Eagle Mines, and Canadian Tire Corporation were also gaining, with increases ranging between 1-2.6%.On the other hand, Lithium Americas Corp suffered a significant fall, plunging by 28%. This sharp drop came in the wake of the company's announcement on Wednesday that it was planning to raise US$275 million through the sale of 55 million common shares at US$5 each in an underwritten public offering, set to close on April 22nd. The company aims to utilise the proceeds to further the construction and development of its Thacker Pass lithium project located in Humboldt County, Nevada.The stocks performing poorly included Aritzia Inc, registering a 3.7% fall. Others, such as BRP Inc, Celestica Inc, WSP Global, Thomson Reuters, Imperial Oil, Loblaw Companies, Dollarama, FirstService Corporation, and Colliers International, were also down, with declines varying from 1 to 2.6%.The material has been provided by InstaForex Company - www.instaforex.com

Japan inflation: National CPI climbs 2.7% YoY in March vs. 2.7% expected

Apr 18, 2024 | 16:39 pm

Japan’s National Consumer Price Index (CPI) for March climbed 2.7% YoY, compared to a 2.8% uptick in February, according to the latest data released by the Japan Statistics Bureau on Friday.

Mortgage Rates Breach 7%, Reaches Highest Level Since November

Apr 18, 2024 | 16:34 pm

Interest rates on home loans have recently shot past the 7% mark, a record high unseen since the previous year, as reported by mortgage company, Freddie Mac.As of April 18, 2024, the average rate for a 30-year fixed-rate mortgage (FRM) was at 7.10%, a significant increase from the previous week's average of 6.88%. Compared to the same time a year ago, where the 30-year FRM average was at a lower 6.39%, the rise is quite stark.Meanwhile, the 15-year FRM also saw an increase, averaging 6.39% up from the previous week's 6.16%, and significantly higher compared to the 5.76% average of the same time the previous year.Freddie Mac's Chief Economist, Sam Khater, notes that this is the first instance this year where the 30-year FRM has exceeded 7%, jumping from 6.88% to 7.10% within a week. Khater also observed that the current upward trend in rates has prospective homebuyers weighing their options: whether to purchase now before rates climb further, or to wait in anticipation of rate reductions later in the year.Last week saw a minor increase in mortgage applications, but it still remains uncertain how many potential homebuyers can bear the financial strain of these escalating rates in the future.The material has been provided by InstaForex Company - www.instaforex.com

Japan National CPI ex Fresh Food (YoY) came in at 2.6%, below expectations (2.7%) in March

Apr 18, 2024 | 16:32 pm

Japan National CPI ex Fresh Food (YoY) came in at 2.6%, below expectations (2.7%) in March

Japan National CPI ex Food, Energy (YoY) down to 2.9% in March from previous 3.2%

Apr 18, 2024 | 16:31 pm

Japan National CPI ex Food, Energy (YoY) down to 2.9% in March from previous 3.2%

Japan March core CPI 2.6% y/y vs. 2.6% expected

Apr 18, 2024 | 16:30 pm

Japan March headline CPI 2.7% vs. 2.8% priorThe prior report was 2.8% vs 2.2% expectedEx fresh food and energy 2.9% vs +3.0% expectedExcluding food vs 2.5% priorHeadline CPI m/m +0.3 vs 0.0% priorExcluding food m/m +0.2% vs +0.2% priorThese numbers aren't exactly cold and leave the BOJ with plenty of ammunition to hike further. This article was written by Adam Button at www.forexlive.com.

BoJ’s Ueda: Chance weak Yen might affect trend inflation and could lead to policy shift

Apr 18, 2024 | 16:30 pm

Bank of Japan (BoJ) Governor Kazuo Ueda spoke in a press conference after attending the Group of 20 (G20) finance leaders' meeting in Washington on Thursday.

Japan National Consumer Price Index (YoY) meets expectations (2.7%) in March

Apr 18, 2024 | 16:30 pm

Japan National Consumer Price Index (YoY) meets expectations (2.7%) in March

AUD/USD pressured as Fed officials hold firm on rate policy

Apr 18, 2024 | 16:26 pm

The Aussie Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences.

Gold surges but ends session shy of $2,400 amid risk aversion, Fed’s Bostic comments

Apr 18, 2024 | 16:25 pm

Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel.

Swiss Market Ends Flat After Lackluster Session

Apr 18, 2024 | 16:24 pm

On Thursday, the Switzerland market closed essentially unchanged after a lackluster trading session. Investors were hesitant to make major moves due to a lack of new prompts. The benchmark SMI ended with a negligible loss of 1.40 points, settling at 11,230.43. The index fluctuated throughout the day, touching a high of 11,281.46 and a low of 11,173.64.Shares in ABB rose by approximately 6.3%. This was due to a reported increase in the company's Operational EBITA for the first quarter, and an optimistic forecast for accelerated revenue growth in 2024. Other gainers were Sika, Givaudan, and UBS Group, which saw increases of 0.6 to 0.8%. Alcon and Geberit also edged up slightly.However, Partners Group shares declined by 3.26%, while Richemont and Lonza Group ended lower by 2.5% and 2.34%, respectively. Logitech International, Zurich Insurance Group, Swisscom, Swiss Life Holding, and Novartis saw losses between 0.4 to 0.7%.Within the Mid Price Index, Barry Callebaut saw a rise of around 4.3%, while Sandoz and Adecco gained about 2.3% and 2.25%, respectively. Other stocks that experienced gains included Lindt & Spruengli N, PSP Swiss Property, Schindler Holding, BKW, Lindt & Spruengli Part, Georg Fischer, Julius Baer, Temenos Group, and Avolta, with increases ranging between 1 to 1.75%.Losses were seen for Tecan Group, ams OSRAM, and VAT Group, which ended down by 2.31%, 1.61%, and 1.01%, respectively. Swatch Group and Straumann Holding closed slightly lower.In economic news, data from the Federal Customs Administration indicated a rise in Switzerland's foreign trade surplus to CHF 8.6 billion in the first quarter, up from CHF 8.1 billion in the last quarter of 2023. Exports rebounded 0.6% after a 0.5% decline in the previous quarter, while the drop in imports softened to 0.2%.In March, the trade surplus increased to CHF 2.8 billion from CHF 2.3 billion in February. Exports and imports fell by 1.7% and 2.3%, respectively, compared to the previous month. In another report, the Federation of the Swiss Watch Industry reported that watch exports saw a year-on-year decrease of 16.1% to CHF 2.0 billion in March, contributing to an overall first-quarter decrease of 6.3% compared to the previous year.The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD extends its downside below 1.0650 on hawkish Fed remarks

Apr 18, 2024 | 16:15 pm

The EUR/USD pair extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session.

Netflix sinks after Q1 earnings release fails to lift market mood

Apr 18, 2024 | 16:05 pm

It’s hard to impress investors during this earnings season.

Israel downgraded to A+ by S&P

Apr 18, 2024 | 16:01 pm

Lowered to A+ from AA-, outlook negativeSees general government deficit to widen to 8% of GDP this yearRecent increase in confrontation with Iran raises already-elevated geopolitical risksHigher deficits will also persist over the medium termExpect net government debt to peak at 66% of GDP in 202666% of GDP isn't bad at all by large-economy standards but Israel certainly faces some unique risks in raising cash. This article was written by Adam Button at www.forexlive.com.

Brazil's Foreign Exchange Flows Reach 1.962B, Showing Positive Outlook

Apr 18, 2024 | 15:30 pm

Brazil's foreign exchange flows have shown a positive trend as the latest indicator has surged to 1.962 billion. This marks a significant improvement compared to the previous recorded figure of -0.684 billion. The updated data on April 18, 2024, indicates a notable turnaround in Brazil's forex market, reflecting growing investor confidence and strengthening economic prospects for the country. The uptick in foreign exchange flows is likely to have a favorable impact on Brazil's currency value and overall financial stability, signaling a promising outlook for the nation's economy in the near term.The material has been provided by InstaForex Company - www.instaforex.com

Foreign Exchange Flows Show Significant Increase in Brazil, Reaching 1.962B

Apr 18, 2024 | 15:30 pm

In a recent update on foreign exchange flows in Brazil, data shows a significant increase in the current indicator, reaching 1.962B. This marks a substantial positive shift from the previous indicator, which had stopped at -0.684B. The latest data, updated on 18 April 2024, indicates a notable influx of foreign exchange into the country, which could impact its currency's strength and global trade relationships. Investors and analysts will be closely monitoring this development to assess its implications on Brazil's economic stability and growth trajectory.The material has been provided by InstaForex Company - www.instaforex.com

Copper “the foothills of what will be its Everest” -- Goldman Sachs

Apr 18, 2024 | 15:21 pm

The rally in copper this year has flown mostly under the radar with so much else happening in markets but it's one that many people -- including Goldman Sachs' commodity team and me -- have written about for a long time.Goldman's paper called 'copper is the new oil' is one of the most well-read research papers of the decade. The thesis is well known as copper grades are declining and there have been zero new projects approved this decade. In addition, the green transition (plus possibly AI) will require large amounts of copper and there's a setup for a structural deficit that will be very hard to solve without much higher prices.That most had 2025 or 2026 ciricled as the year that deficit started to bite, in part due to the startup of the QB2 mega-project in Chile late last year. However at the same time, Panama also closed a mine that supplied around 1.7% of global output. That appears to have moved up some timelines, depending on who you ask.As for Goldman, the same analysts with the 'copper is the new oil' moniker dropped another great line today saying, prices are only in “the foothills of what will be its Everest."That was in Santiago where the copper world is meeting this week at the annual Cesco Week symposium. Prices are currently at a 22-week high but Goldman sees prices rising more than 50% from here, to $15,000 per ton or about $6.50/lb.There were certainly differing views with some sticking to forecasts for physical tightness in the second half of the decade. However all six members of the panel of market participants were unanimous that higher prices are coming eventually. You can take that as a sign of a one-sided trade or a sign that no one can find holes in the forecasts.In a separate report, here is what Citi had to say: Funds have driven copper up to ~$9,500/t (+~20% since late November), on early signs of global reflation and in anticipation of physical deficits. Pure-play copper equities, which are even more forward-looking, have moved up to a price of $10.5k-12.5k/t copper into perpetuity, suggesting that there is further room for forward-looking investors to take the commodity price higher. Indeed, pure-play equity-implied copper prices are consistent with our view that we have entered the second secular copper bull market this century. Likely LME withdrawals of Russian metal and modest deficits should support prices around current levels over the next 3 months. We still see a path up to $15k/t by 2026 in our bull-case scenario.One touted risk is that speculators are driving the current move. At the LME, long positions reached 84,117 contracts, equivalent to over two million tons, at the end of last week. That's the highest level since the LME started publishing its Commitments of Traders report at the start of 2018.Over at the CME, copper longs are at the most since January 2018. What's also notable is that on both exchanges, short positions are also high, leaving the net below the 2021 peaks. Volumes are up around 20% y/y. This article was written by Adam Button at www.forexlive.com.

5-Year TIPS Auction in the United States Sees Indicator Rise to 2.242%

Apr 18, 2024 | 15:00 pm

The latest data update on April 18, 2024, reveals a significant increase in the current indicator for the 5-Year Treasury Inflation-Protected Securities (TIPS) Auction in the United States. The indicator has now reached 2.242%, showing a notable rise from the previous rate of 1.71%. This surge in the indicator suggests a strengthening demand for TIPS among investors, possibly driven by inflation expectations and market dynamics. The higher yield at the auction signifies an increased appetite for inflation-protected securities amidst economic uncertainties and evolving market conditions. Investors and analysts will closely monitor these developments as they navigate the evolving landscape of the global economy.The material has been provided by InstaForex Company - www.instaforex.com

US Dollar get back on track as Fed bets continue readjusting, yields rise

Apr 18, 2024 | 14:41 pm

The US Dollar Index (DXY) rose toward 106.25 on Thursday and appears on track to test the November 1 high near 107.10.

NZD/JPY Price Analysis: Buyers dominance diminishes, market could favor sellers soon

Apr 18, 2024 | 14:29 pm

The NZD/JPY is trading slightly lower at around 91.23. It seems the firm grip buyers had over the market is dwindling, yet the pair doggedly persists above crucial Simple Moving Averages (SMAs).

Forexlive Americas FX news wrap 18 Apr: Fed official more hawkish. ECB official dovish.

Apr 18, 2024 | 14:04 pm

NASDAQ index and S&P index down for the fifth consecutive dayBOJ Ueda:Chance weak Yen might affect trend inflation and if so could lead to policy shiftJapan's FM Suzuki: FX levels reflecting various factors, not just rate differentialsCrude oil settles at $82.73Iranian Foreign Minister: Iran had no other option but to attack IsraelUS treasury auctions $23B of 5 year TIPS at 2.242%SNB's Martin: Interest rates, FX interventions have bought inflation under controlAtlanta Fed president Bostic: US inflation is too highWhite House: Will keep options open for more Iranian sanctionsEuropean major indices closing higherBOE Greene:Latest pay data shows pretty high wage growth,but moving in the right directionECB Rehn:Inflation is converging towards the ECBs 2% targetUS leading index for March -0.3% versus -0.1% estimateUS existing home sales for March 4.19M versus 4.20M estimateUS dollar moving higher. NY Fed Pres. Williams doesn't rule out a fed hike if neededNY Fed Pres. Williams: I don't feel an urgency to cut ratesKickstart your FX trading for April 18 w/ a technical look at EURUSD, USDJPY and GBPUSD.Fed's Bowman doesn't comment on monetary policy in textPhilly Fed April manufacturing business index +15.5 vs +2.3 expectedUS initial jobless claims 212K vs 215K estimateECB's Knot: Not uncomfortable with market pricing of rate cutsThe CHF is the strongest and the JPY is the weakest as the NA session beginsForexLive European FX news wrap: Currencies muted on lack of meaningful dataAs the trading day comes to an end, the CAD and the USD are ending as the strongest of the major currencies and the EUR is the weakest . However, the variation from the strongest to the weakest was relatively close. The economic calendar today saw the Philadelphia Fed manufacturing business index rise join in expectations of 15.5 versus 2.3. Initial jobless claims continues to show steady strength. Later existing home sales came in as expected.The US dollar got a boost after Fed officials continued to talk more hawkish/less dovish than .NY Fed President Williams spoke about the current state of the economy and the Federal Reserve's monetary policy, expressing that he does not feel an urgency to cut interest rates at the moment. He highlighted that the economy is strong and economic imbalances have been reduced, suggesting that the current Fed rates have not overly slowed the economy. Williams emphasized that monetary policy is currently well-positioned but acknowledged that interest rates will eventually need to be lowered depending on economic activity. He also mentioned that further rate hikes are not his baseline forecast, but the Fed would consider them if the data supported such a move. Additionally, he reiterated the importance of the Fed's 2% inflation target and the need for the Fed to continue working toward lowering inflation. Williams also noted that he is keeping an eye on China's economic performance, indicating its potential impact on the global economy. US rates and the US dollar moved higher after Williams kept the window open for a rate hike (even though it was not his baseline). Later in the day, Atlanta Fed President Bostic reiterated his recent view. He addressed concerns regarding current US inflation levels, stating they remain too high and acknowledging that there's still significant progress needed to control inflation. Despite the urgency of the situation, Bostic expressed a readiness to approach adjustments with patience, emphasizing that there is no need to rush the process. He suggested that maintaining stable jobs and wages, while ensuring inflation moves towards the target, could justify keeping interest rates steady for the time being. Bostic remains optimistic about the economic outlook, not foreseeing a recession and predicting continued growth as the economy aligns more closely with the Fed's dual mandates. However, he indicated that any potential rate reductions would likely not occur until towards the end of the year.The Fed officials are looking for a cut, but when is anyone guess. However, it is not June and July and more likely September being the earliest. In contrast to the more hawkish Fed, the ECB commentary today had the common theme of a June rate cut. ECB's Knot expressed his comfort with the market's expectations of rate cuts, reflecting a positive outlook on the disinflationary process. He indicated a harmonious stance with market sentiment, which anticipates a rate cut in June. Concurrently, ECB's Nagel also commented, foreseeing a cautious decline in rates starting in June, which suggests a coordinated and gradual approach to easing monetary policy within the ECB as inflation pressures begin to easeECB's Rehn spoke later and discussed the current state of inflation, noting its convergence towards the ECB's 2% target. He emphasized that ongoing monetary restraint has effectively helped to reduce inflation and its broader impact on the real economy. Rehn pointed out that while the ECB's rates have been crucial in the disinflation process, there is no longer a need to maintain them at the current high levels for an extended period. He indicated that, assuming no further geopolitical or energy price setbacks, it would be appropriate to begin easing the monetary policy stance and consider rate cuts as soon as June, provided the confidence that inflation will continue to sustainably approach the 2% target.From the Bank of England today, BOE's Greene commented on the latest economic indicators and was a bit more hawkish. She noted that recent pay data shows a substantial increase in wage growth, which, although high, is moving in a favorable direction. Despite this, the latest inflation data slightly exceeded expectations, presenting a challenge in achieving a sustainable return to the BOE's 2% inflation target. Greene highlighted inconsistencies between wage growth and services price inflation, which could hinder progress towards stabilizing inflation. He also mentioned that the UK labor market is beginning to loosen yet remains relatively tight, projecting that inflation may meet the target in the upcoming months but is unlikely to remain stable. Consequently, Greene does not anticipate a rate cut in the near futureLooking at the other markets as the day comes to an end:Crude oil is trading lower By about $0.85 or[…]

Japanese CPI highlights the Asia-Pacific economic calendar

Apr 18, 2024 | 13:58 pm

Eamonn is off today so I'll be subbing during the Asia-Pacific session. It's not a busy on in terms of economic data but there is one big highlight with Japanese CPI for March. It's due at 2330 GMT, or 8:30 am in Tokyo.The consensus is for 2.6% y/y, down from 2.8%. Recently, BOJ officials have been downplaying inflation and appear to be searching for other reasons to hike rates, including a soft currency.Today Ueda said there is a chance the weak yen might affect trend inflation and if so could lead to policy shift. This article was written by Adam Button at www.forexlive.com.

GBP/JPY Price Analysis: Stalls in narrow range above the 192.00 threshold

Apr 18, 2024 | 13:38 pm

The GBP/JPY is flatlined for the second consecutive day, hovering around 192.30, clocking minimal gains of 0.05%.

United States 8-Week Bill Auction Yields 5.275% amid Data Update

Apr 18, 2024 | 13:30 pm

In the latest update from the United States financial market, the 8-Week Bill Auction yielded 5.275%. This figure indicates a slight increase from the previous rate of 5.27%. While specific dates for the previous and current events are not available, the data was last updated on April 18, 2024. The 8-Week Bill Auction plays a significant role in reflecting investor confidence in the country's short-term debt obligations, and the marginal rise in yield suggests continued stability in the US financial sector amidst ongoing economic developments. Investors and analysts will be closely monitoring future auction results to gain insights into market sentiment and economic outlook.The material has been provided by InstaForex Company - www.instaforex.com

United States 4-Week Bill Auction Results Show Increase to 5.28%

Apr 18, 2024 | 13:30 pm

The latest data from the United States 4-Week Bill Auction reveals a slight uptick in the stopout rate to 5.28%, compared to the previous rate of 5.27%. The auction results, which were last updated on April 18, 2024, indicate a marginal increase in demand for these short-term securities among investors. The 4-Week Bill Auction is closely monitored by market participants as it provides insights into the government's borrowing costs and investor sentiment towards government debt. The rise in the stopout rate suggests that investors are showing continued interest in these low-risk investment opportunities offered by the U.S. Treasury.The material has been provided by InstaForex Company - www.instaforex.com

Netflix in focus as stocks grapple with 'higher for longer' mantra

Apr 18, 2024 | 13:20 pm

Thursday brought a mixed bag for US stocks as investors braced for Netflix to kick off the earnings season.

NASDAQ index and S&P index down for the fifth consecutive day

Apr 18, 2024 | 13:08 pm

The major stock indices are closing mixed with the Dow industrial average moving higher. The broader S&P and NASDAQ indices closed lower for the fifth consecutive day. The Russell 2000 also moved lower for its fifth day in a row.A snapshot of the closing levels shows:Dow industrial average up 22.07 points or 0.06% at 37775.37S&P index down -11.11 points or -0.22% at 5011.11NASDAQ index -81.87 points or -0.52% at 15601.50The small-cap Russell 2000 fell -4.88 points or -0.26% at 1942.95.With one day left in the trading week: Dow Industrial Average -0.55%S&P index -2.19%NASDAQ index -3 55%. On pace for the worst week since September 2023Russell 2000 -3.006% This article was written by Greg Michalowski at www.forexlive.com.

Netflix reports revenue of $9.37 billion vs $9.27 billion expected. Shares pop then drop

Apr 18, 2024 | 13:02 pm

Earnings of $5.28 vs $4.52 estimateStreaming paid additions of 9.33m vs 5.11m estQ2 outlook $4.68 vs $4.54 estOperating income $2.633B vs $2.428B estShares were initially up 3% after hours then fell to -7% and are now -4%."We’re raising our FY24 operating margin forecast to 25%, based on F/X rates as of January ‘24, up from 24," the company said.They also said they're "scaling ads to become a more meaningful contributor to our business in ‘25 and beyond." So we'll all continue to pay the $15/month and it won't be long before we get ads with that too.The company also seems to be leaning into pulp lately, including hiring a new chief in the movie division. They said they want to improve the variety and quality of the entertainment "with more, great TV shows and movies, a stronger slate of games and must-watch live programming."For Q2’24, they forecast revenue growth of 16%.I wonder if that isn't a technical reaction. The numbers probably weren't good enough to break above this month's $639 high and profit taking hit. This article was written by Adam Button at www.forexlive.com.

Netflix earnings to be released after the close. What are the technicals saying?

Apr 18, 2024 | 12:52 pm

Netflix will announce earnings after the close. The expectations are for:Earnings Per Share (EPS): Expected at $4.52.Revenue: Forecasted at $9.28 billion.Total Memberships: Anticipated to reach 264.21 million.Netflix is transitioning from targeting subscription growth to a profit prioritizing model. As such they have announced price hikes: enforcing their password sharing policies. There also exploring ad supported subscriptions, video gaming, and broadcasting live sports.Netflix shares are trading down 2 dollars or -0.32% at $611.72 going into the earnings. The price at the end of 2023 was $486.88. The price is up in around 25% for the year. Its all-time high price reached $700.99 back in November 2021. The high price this year has come in at $639..In 2023 the stock price rose 65.11%.Looking at the daily chart below, the price is going into earnings after testing trendline support AND its 50-day moving average today (black MA line). A move below those levels opens the door for more downside corrective probing. The 38.2% comes in at $571.33. A move to that level would imply a -6.5% decline from current levels. On a move higher, traders would be looking for the high from the year at $639. That would imply a gain of around 4.35% from current levels. This article was written by Greg Michalowski at www.forexlive.com.

Natural Gas Storage in the United States Increases to 50B, Latest Data Shows

Apr 18, 2024 | 12:30 pm

The latest data on natural gas storage in the United States has been updated, showing a significant increase in stored reserves. The previous indicator had stopped at 24B, and the most recent data now indicates a rise to 50B. This jump in gas storage levels could have implications for energy markets and prices in the coming weeks. The data was last updated on 18 April 2024, reflecting the most current information available regarding natural gas reserves in the US.The material has been provided by InstaForex Company - www.instaforex.com

Mexican Peso slumps on Fed signaling ‘higher-for-longer’ interest rates

Apr 18, 2024 | 12:26 pm

The Mexican Peso depreciated against the US Dollar as sentiment shifted sour on Thursday.

EUR/JPY Price Analysis: Bulls Maintain Control, consolidation phase likely

Apr 18, 2024 | 12:23 pm

The EUR/JPY slightly declined to 164.70 in Thursday’s session.

Argentina Trade Balance (MoM) rose from previous $1438M to $2059M in March

Apr 18, 2024 | 12:00 pm

Argentina Trade Balance (MoM) rose from previous $1438M to $2059M in March

United States Existing Home Sales Drop by 4.3% in March 2024

Apr 18, 2024 | 12:00 pm

According to the latest data released on April 18, 2024, existing home sales in the United States experienced a significant decline in March 2024. The indicator dropped by 4.3% compared to the previous month, when it had increased by 9.5%. This month-over-month comparison reflects a sharp reversal in the trend of the housing market, signaling potential challenges in the real estate sector.The decrease in existing home sales could be attributed to various factors such as rising mortgage rates, limited housing inventory, and overall economic uncertainties. As the demand for housing weakens, homeowners and real estate professionals may need to adjust their strategies to navigate the changing market conditions. Analysts will be closely monitoring future data to assess the impact of this decline on the broader economy and to track any potential signs of recovery in the housing market.The material has been provided by InstaForex Company - www.instaforex.com

US Leading Index Declines by -0.3% in March 2024

Apr 18, 2024 | 12:00 pm

The US Leading Index took a downturn in March 2024, decreasing by -0.3%. This drop follows a previous increase of 0.2% in February 2024, indicating a shift in economic momentum within the United States. The data, updated on 18 April 2024, compares the month-over-month change, reflecting the current economic conditions relative to the previous month. Analysts will be closely monitoring the implications of this decline on various sectors of the economy and assessing potential impacts on future economic performance. Stay tuned for further insights and developments as experts delve into the factors influencing this shift in the US Leading Index.The material has been provided by InstaForex Company - www.instaforex.com

Japan's FM Suzuki: FX levels reflecting various factors, not just rate differentials

Apr 18, 2024 | 11:43 am

Japan's finance Minister Suzuki says:FX levels reflecting various factors, not just rate differentialsContinue to be in close communications with US in regard to Forex This article was written by Greg Michalowski at www.forexlive.com.

Forex Today: The Fed’s tighter-for-longer stance supports the Dollar

Apr 18, 2024 | 11:39 am

Further hawkish comments from Fed speakers lent extra legs to the Greenback and sparked a decent bounce in US yields, while the ECB's officials continued to advocate the start of the bank’s easing programme in the summer.

Crude oil settles at $82.73

Apr 18, 2024 | 11:34 am

Crude oil futures features are settling at $82.73. That's up $0.04 or 0.05% This article was written by Greg Michalowski at www.forexlive.com.

Dow Jones falls in higher US yields, hawkish Fed comments

Apr 18, 2024 | 11:14 am

The Dow Jones Industrial Average (DJIA) is finally posting gains in January as investors digest the strong US economic outlook and pare back their interest rate cut hopes.

Silver Price Analysis: XAG/USD clings to $28.00 amid high US yields

Apr 18, 2024 | 11:13 am

Silver clings to modest gains of 0.29% and stays above $28.00 for the sixth consecutive trading day amid higher US Treasury bond yields and a strong US Dollar.

Canadian Dollar gives away earlier gains on hawkish Fed and strong US data

Apr 18, 2024 | 11:01 am

The Canadian Dollar (CAD) is trading higher for the second consecutive session on Thursday, yet with weaker bullish momentum.

Russian Central Bank Reserves Reach $600.7 Billion, Showing Growth

Apr 18, 2024 | 11:00 am

The Central Bank reserves in Russia have shown an increase, reaching $600.7 billion as of the latest update on April 18, 2024. This marks a rise from the previous level of $598.3 billion. The growth in reserves could indicate a strengthening of the country's financial position and may provide stability in the face of economic uncertainties. Russia's ability to maintain and increase its reserves is a positive sign for its economy, showcasing resilience and potential for growth in the global market. As the data was recently updated, experts will be closely monitoring the Central Bank's actions and policies to gauge the impact on the country's economic outlook.The material has been provided by InstaForex Company - www.instaforex.com

Pound Sterling stays firm amid BoE, Fed commentary and US data

Apr 18, 2024 | 10:37 am

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US Jobless Claims 4-Week Avg. Slightly Up at 214.5K

Apr 18, 2024 | 10:30 am

The latest data for jobless claims in the United States shows a slight increase in the 4-week average to 214.5K, up from the previous figure of 214.25K. This indicates a relatively stable labor market as the numbers remain within a close range. The report, updated on April 18, 2024, suggests that initial jobless claims are holding steady. The consistency in these figures may reflect ongoing trends in the US job market as the economy continues to recover from the impacts of the pandemic. Investors and economists will closely monitor future data releases to gauge the health of the labor market and its implications for the broader economy.The material has been provided by InstaForex Company - www.instaforex.com

Iranian Foreign Minister: Iran had no other option but to attack Israel

Apr 18, 2024 | 10:26 am

Geopolitical news: Iranian foreign minister says that Iran had no other option but to attack Israel.Iran's defense and countermeasures has concluded and Israel must be compelled to stop any further military adventurism against our interestsSince Tuesday, the saber rattling has died down a bit between Iran and Israel as diplomacy seems to be in motion.More from Iran's foreign minister:if any use of force by Israel or violation of Iran sovereignty, Iran's response will be decisive and proper to make Israel regret it's actions.I guess that comment is a bit more aggressive... This article was written by Greg Michalowski at www.forexlive.com.

GBP/USD stays firm amid BoE, Fed commentary and US data

Apr 18, 2024 | 10:12 am

The Pound Sterling is virtually unchanged against the US Dollar in the mid-North American session, amid a scarce economic docket in the United Kingdom (UK) if not interrupted by Bank of England (BoE) member Megan Greene.

US broader indices give up gains

Apr 18, 2024 | 10:10 am

The broader US stock indices have given up their gains:S&P index is unchanged at 5022.07. At session highs the index was up 34.44 points.NASDAQ index is down -18 points or -0.12% at 15665.94. At session highs the index was up 102.75 pointsThe Dow industrial average is still higher by 34.5 points or 0.09% at 37790 (at session highs the index was up 330.44 points). The Russell 2000 is also still higher by 8.52 points or 0.44% at 1956.47 (at session highs index was up 23.44 points).. This article was written by Greg Michalowski at www.forexlive.com.

US treasury auctions $23B of 5 year TIPS at 2.242%

Apr 18, 2024 | 10:05 am

High-yield 2.242%Tail -2.8 basis points vs six-month average of -0.1 basis pointsBid to cover 2.58X versus six-month average of 2.45XDirects (domestic) 17.8% versus six-month average of 16.5% Indirects (international buyers) 78.3% versus six-month average of 76.0%Solid auction. This article was written by Greg Michalowski at www.forexlive.com.

Arm Holdings Stock Forecast: ARM sinks for fifth straight day

Apr 18, 2024 | 09:52 am

Arm Holdings (ARM) stock opened lower on Thursday, aiming for its fifth consecutive losing session.

White House: Will keep options open for more Iranian sanctions

Apr 18, 2024 | 08:59 am

It is reported that the US was willing to trade an attack from Israel on Rafah vs an attack on Iran. The White House is now saying that the keep options open for more Iranian sanctions. Clearly, the White House would prefer to diffuse the Iran/Israel issues. This article was written by Greg Michalowski at www.forexlive.com.

European major indices closing higher

Apr 18, 2024 | 08:38 am

Major European indices are closing higher for the second . The gains are led by the Spain's Ibex which rose by 1.3%.A look at the final numbers shows:German DAX, +0.45%France CAC, +0.55%UK FTSE 100 +0.44%Spain's Ibex was 1.30%Italy's FTSE MIB +0.74%As London/European traders headfor the exits, US stocks are also higher:Dow industrial average up 261.43 points or 0.69% at 38013S&P index up 24.45 points or 0.49% at 5046.85NASDAQ index up 73 points or 0.46% at 15756.37Russell 2000 up +20.77 points or 1.07% at 1968.72The gains come despite higher yields in the US after NY Fed Pres. Williams did not shut the door on the potential for a rate hike if needed. Having said that, he said that "rates were at a good place".Crude oil is lower. Gold is higher by $23.85 or 1.01% at $2384.11.Bitcoin is also moving higher in trades at $63,701. The low price today reached $60,830.The strongest to the weakest has shifting in the morning FX market with the CAD now the strongest and the JPY as the weakest. However, the major currencies are all "scrunched" together. The USD is mixed with gains vs the EUR, JPY ,CHF and declines vs the GBP, CAD and NZD. The changes are all within 0.12% of the closing level from yesterday. This article was written by Greg Michalowski at www.forexlive.com.

US leading index for March -0.3% versus -0.1% estimate

Apr 18, 2024 | 07:01 am

Prior month +0.1% revised from +0.2%leading Index for March -0.3% versus -0.1% estimateLast month, the 0.2% gain was the first since March 2022. It is back in the red for the forward looking indicator. This article was written by Greg Michalowski at www.forexlive.com.

Forex Today: Stocks Tumble – Sell in May and Go Away? - 18 April 2024

Apr 18, 2024 | 00:27 am

Stocks Make Deepest Pullback in Months; Precious Metals Remain Strong; Dollar Weakens After G7 Statement; Several Trends May Be Reversing

AUD finds support as market ignores risk off tone

Apr 17, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar outperformed through trade on Wednesday, pushing back against recent losses to break above US$0.6450. Commodity currencies were well supported as currency markets ignored a broader risk-off mood and instead forced the USD lower amid a steady fall in treasury yields across the curve. With the USD on the back foot, the AUD found support in higher iron ore prices and stability across the Chinese yuan daily fixing. PBOC officials set a rate largely unchanged from the week's earlier downward revision helping stabilise the yuan and limiting the negative spillover into the AUD as a proxy. Reports of increased activity across China’s steel mills help drive a 5.5% increase in iron ore prices and a break back above $115, adding a floor under the AUD at US$0.64 for the day. Our attention now turns to domestic labour market data for March. Stability across the employment landscape will give the RBA confidence in maintaining the current policy setting and may lend support to the AUD ahead of US jobless claims and commentary from 3 key Fed officials. Key Movers The euro was the day's notable outperformer Wednesday up half a percent and back through 1.0650, marking session highs at 1.0670. European Central Bank President Christine Lagarde paved the way for the Euro advance, suggesting there were clear signs of a euro area recovery and that the Bank was closely monitoring the exchange rate and its potential impact on the euro and inflation. While euro bonds fell, US treasuries also retreated and markets appeared content in ignoring a broader risk-off tone, forcing the USD lower against most major counterparts. UK yields rallied after a stronger-than-expected UK CPI inflation print, driven by a surprise uptick in services inflation. While Governor Bailey suggested he expected a significant correction in next month’s numbers, market pricing for BoE policy change barely shifted with a first full cut not priced in until September, leaving August an outside chance should policymakers choose to move early. Sterling edged higher against the USD, pushing back above 1.2450, yet falling short of a break above 1.25. Our focus now turns to US jobless claims and commentary from key ECB and Fed officials. Expected RangesAUD/USD: 0.6380 - 0.6500 ▲AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9200 - 1.9500 ▼AUD/NZD: 1.0800 - 1.0900 ▲AUD/CAD: 0.8800 - 0.8900 ▲

Bitcoin Halving: Will it Trigger a Market Frenzy?

Apr 17, 2024 | 04:41 am

Bitcoin is all over the news, as “Bitcoin halving” is expected to occur on Friday, April 19. What is Bitcoin halving and how will it affect the price of Bitcoin?

Forex Today: US Yields Rise on Powell Cut Delay Signal

Apr 17, 2024 | 02:00 am

Fed Chair Powell Says Inflation Falling Too Slowly; Israel Hints at Soft Retaliation, Crude Oil Weaker; USD/JPY Reaches New 34-Year High at ¥154.79; UK CPI Higher Than Expected; Bitcoin Close to Halving

AUD slide continues on heels of softer yuan spills

Apr 16, 2024 | 17:00 pm

AUD - Australian dollar Another day and another move lower for the AUD as ongoing weakness across equity markets, a risk-off tone and a lower fixing by the People's Bank of China forced the AUD to mark fresh 2024 lows. The AUD slid through supports at US$0.6440/50 tumbling toward US$US0.64 after the People's Bank of China set a lower fix for the CNY, suggesting there is some flexibility for the yuan to depreciate against the USD in line with markets and yield performance. While state banks sold USD to limit CNY losses the move weighed on the AUD as a proxy among majors. The AUD was unable to recover the early losses and tracked sideways through the overnight session testing a break below US$0.64 before edging back above this critical handle leading into the morning open. We start the day on the back foot and with no headline data on the domestic docket look offshore to NZ, UK and Eurozone CPI data and commentary across several Central banks with members from the Fed, Bank of England and European Central Bank hitting the wires. With inflation pressures taking longer than expected to dissipate we are looking for any clues as to the timing and trajectory of monetary policy change. Key Movers The dollar traded within a narrow range through Tuesday as with much of the action across financial markets contained to equities, yields and rates. US Treasury yields marked fresh 2024 highs while US equities had a mixed session with both the Dow and S&P 500 closing lower. The DXY index traded up 0.16%, buoyed by softness across risk currencies and an extension against the yen. The risk of intervention continues to hang over the yen, yet the USD retained its upward trajectory as markets pushed back against comments from Japanese currency officials. The prohibited cost associated with intervention has allowed markets some scope to doubt calls by officials that intervention is imminent. With US yields driving gains markets remain on edge and we continue to monitor comments. The euro and GBP changed little with the euro trading near US$1.062 and GBP sliding below US$1.2450 and trading near US$1.2430. NZ, UK and Eurozone CPI data and commentary across several Central banks with members from the Fed, Bank of England and European Central Bank hitting the wires will drive direction through the day. Expected RangesAUD/USD: 0.6350 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9250 - 1.9550 ▲AUD/NZD: 1.0850 - 1.0950 ▲AUD/CAD: 0.8800 - 0.8900 ▲

Forex Today: Stock Markets See Strong Selling

Apr 15, 2024 | 23:10 pm

Global Stock Markets Firmly Lower; Israel Signals Retaliation Likely Soon; USD/JPY Reaches New 34-Year High at ¥154.44; Energies, Precious Metals Firm; Markets Await Canadian CPI Data

AUD tumbles in face of US economic resilience

Apr 15, 2024 | 17:00 pm

AUD - Australian dollar Against a backdrop of support for the USD, the AUD underperformed through trade on Monday, marking fresh year-to-date lows sliding below US$0.6450. Markets adopted a cautious tone to start the week amid fears tensions in the Middle East are set to escalate following targeted drone and missile attacks launched by Iran. While Israel was afforded advanced warning and nearly all projectiles were intercepted, markets are still fearful of an Israeli counterstrike despite Western Allies urging restraint. A risk-off tone elevated demand for the USD pushing the AUD toward US$0.6450. The AUD then extended below the February year-to-date low, touching US$0.6441, after US retail sales surpassed expectations. The hotter-than-anticipated print points to US economic resilience and forced investors to reconsider Fed pricing expectations, driving US yields higher. A stable yuan did afford the AUD some support with PBOC policymakers intervening to set a higher fixing and increase the costs of shorting the CNY against the USD. With the AUD under pressure, our attentions turn to China activity data, UK labour data and Bank of England Commentary as Governor Bailey hits the wires. Key Movers The USD outperformed on Monday amid a risk-off tone and ongoing signs of economic resilience. Growing tensions in the Middle East and elevated Fears Israel will retaliate and strike back against Iran prompted a risk-off mood leading into trade on Monday. At the same time, stronger-than-expected US retail sales drove US treasury yields higher and forced a shift in Fed pricing expectations. US retail sales printed well above expectations while February numbers were revised higher suggesting consumer spending remained strong through Q1 and provides solid momentum leading into Q2 giving the Fed no reason to consider raising rates before the end of Q3. Against a backdrop of higher yields the Japanese yen underperformed. The USD is up over half a per cent and broken through 154, testing levels not seen in 34 years. Many expected the Bank of Japan and Ministry of Finance would intervene well before these levels, but with losses driven by the outperformance in US treasury yields intervention would be largely ineffective and incredibly costly, thus markets have ignored the jawboning from Japanese officials. Our attention remains on the Middle East and risk demand while UK labour data, China activity data, commentary from the Bank of England Governor and Canadian CPI data dominate a crowded macroeconomic ticket. Expected RangesAUD/USD: 0.6400 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9200 - 1.9500 ▲AUD/NZD: 1.0850 - 1.0950 ▲AUD/CAD: 0.8820 - 0.8930 ▼

Forex Today: Risk Sentiment Improves as Mideast Tension Lowers

Apr 15, 2024 | 00:51 am

Immediate Retaliation Against Iran Unlikely; USD/JPY Breaks Out to New 34-Year High Near ¥154; Market Await US Retail Sales Data

Aussie dollar trades below US$0.65

Apr 14, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is weaker this morning when valued against the Greenback, currently trading at 0.6458 at time of writing. The Aussie dollar came under some renewed selling pressure on Friday and extends its steady intraday descent through the early part of the European session. Spot prices touch a fresh daily low following the release of weaker Chinese trade data, albeit manage to hold above the 0.6500 psychological mark. Some follow-through selling below the 0.6480 area, or the monthly low, will reaffirm the negative bias and allow the AUD/USD pair to aim back to challenge the YTD trough, around the 0.6445-0.6440 region touched in February. The downward trajectory could extend further towards the 0.6400 mark en route to the next relevant support near the 0.6355-0.6350 zone. Last week the ANZ-Roy Morgan Consumer Confidence Index recorded a slight decrease, reflecting Australians’ growing concerns about their financial situations and the national economy’s future. The ANZ-Roy Morgan Consumer Confidence Index fell by 0.9 points this week to 81.9, marking a record 62 consecutive weeks below the 85-point threshold. Despite the decline, the index remains 2.6 points higher than the same week last year and just one point below the 2024 weekly average of 82.9. The current economic environment has kept consumer confidence below 85pts for a record 62 weeks, 23 weeks longer than during the 1990s recession. Looking ahead this week and on Thursday all eyes will be on the Australian Bureau of Statistics Unemployment Rate decision, which is expected to see the jobless rate increase from the previous month from 3.7% to 3.9%. Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labour-market conditions. Key Movers The US Dollar Index (DXY) is trading above the 106.00 mark, attaining its highest level since early November. The Index's upward movement is largely driven by rising US yields and a hot inflation data environment that favours the US dollar. In addition, Federal Reserve (Fed) officials expressed fewer possibilities for rate cuts this year, and an increase in hawkish bets is another driver boosting the currency. Last week, inflation in the US, as measured by the change in the Consumer Price Index (CPI), rose to 3.5% on a yearly basis in March from 3.2% in February, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in above the market expectation of 3.4%. The annual core CPI, which excludes volatile food and energy prices, rose 3.8% in the same period, matching February's increase. On a monthly basis, the CPI and the core CPI both rose 0.4%, compared to analysts' estimate of 0.3%. Gold price finished the week with modest gains of 0.59% after reaching an all-time high during the North American session on Friday. Price action was volatile as geopolitical risks sparked a flight to safe-haven assets, driving the non-yielding metal toward $2,431, a new all-time high, before retreating on overall US dollar strength. At the time of writing, the XAU/USD exchanges hands at $2,343, down 1.18%. U.S. energy shares are soaring as investors benefit from rising oil prices and a stronger-than-expected economy, while seeking to protect their portfolios from a feared resurgence of inflation. The S&P 500 energy sector is up about 17% in 2024, roughly doubling the broader index's year-to-date return. Its gains have accelerated in recent weeks, making it the S&P 500's best performing sector in the past month. Expected RangesAUD/USD: 0.6350 - 0.6550 ▼AUD/EUR: 0.5950 - 0.6150 ▼GBP/AUD: 1.9100 - 1.9300 ▲AUD/NZD: 1.0750 - 1.0950 ▲AUD/CAD: 0.8800 - 0.9000 ▼

Forex Today: US Monthly CPI Unchanged, Triggers Hawkish Shift on Rate Cuts

Apr 10, 2024 | 23:28 pm

US CPI data released yesterday showed the annualized rate rising higher than expected to 3.5%.

US Inflation Higher Than Expected, Accelerates to 3.5%

Apr 10, 2024 | 09:37 am

US inflation for March rose 3.5% year-on-year. This was higher than expected and the US dollar is higher following the inflation release.

Forex Today: US CPI Expected to Show Slower Monthly Increase

Apr 9, 2024 | 23:43 pm

US CPI data will be released today, with the market expecting a slower pace of monthly increase.

Forex Today: Gold Makes New Record at $2,354

Apr 7, 2024 | 23:24 pm

Metals Rise Strongly to New Highs; USD/JPY Likely to Retest 34-Year High at ¥152; Crude Oil, Gasoline Futures Pull Back From Highs

Forex Today: Gold Beats $2,300

Apr 4, 2024 | 00:08 am

Spot Gold has continued to rise to new all-time high prices.

Forex Today: Gold Makes New Record at $2,288

Apr 2, 2024 | 22:27 pm

Precious Metals Rise Firmly to New Highs; Fed’s Daly Expects 3 Rate Cuts in 2024; USD/JPY Remains Close to 34-Year High Near ¥152; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

German Inflation Eases to 3-Year Low

Apr 2, 2024 | 07:54 am

Germany’s CPI climbed 2.2% year-on-year in March, down from 2.7% in February and matching expectations. This is the lowest inflation rate since May 2021.

Forex Today: Yen Nears Record Low, Markets Await Possible BoJ Intervention

Apr 1, 2024 | 23:20 pm

USD/JPY Advances Close to 34-Year High Near ¥152; US Dollar Stronger on Firm US Manufacturing Data; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

Forex Today: Gold Hits $2265 Per Ounce

Mar 31, 2024 | 23:13 pm

Gold Reaches Record High in Asian Session; USD/JPY Remains Below Record High Near ¥152; Strong Chinese Manufacturing Data; Eyes on Cocoa Futures After Spectacular Gains

United States GDP Expanded in Fourth Quarter by 3.4%

Mar 28, 2024 | 07:44 am

US GDP rises 3.4%, Canada GDP rebounds; US dollar steady, while stock markets show little movement following the announcement.

Forex Today: Fed’s Waller: No Rush to Cut Rates, Prospect of Hikes Remote

Mar 28, 2024 | 01:25 am

US Fed’s Waller Reiterates Ongoing Fed Message of Slow Path to Rate Cuts; USD/JPY Remains Below Record High Near ¥152; Cocoa Futures Make Another Record High Close; Gold Also Makes Record High Closing Price

Forex Today: Japanese Yen Hits 34-Year Low

Mar 27, 2024 | 00:13 am

USD/JPY Hits Record High Near ¥152, Japanese Officials Try to Talk Up Yen; Cocoa Futures Surpass $10,000 to Hit All-Time High; Aussie CPI Unchanged

Forex Today: Cocoa Futures Break $9,000 for Record High

Mar 26, 2024 | 00:38 am

Cocoa Futures Gain 8% in a Day; US Stocks, Gold Remain Bullish; Japanese Officials Try to Talk Up Yen; Bitcoin Rises Above $70k Despite Record Crypto Fund Outflows

United States Federal Reserve Holds Interest Rates, Remains Cautious

Mar 21, 2024 | 04:26 am

The Federal Reserve left interest rates unchanged for a fifth straight time at its meeting on March 20. The US dollar fell against the major currencies following the announcement.

Forex Today: Fed Says 3 Rate Cuts in 2024, Stocks, Gold Boom

Mar 21, 2024 | 00:07 am

Fed Gives Dovish Surprise by Forecasting 3 Cuts in 2024; Markets Await BoE, SNB; Gold, Stock Markets Reach Record Highs; Japanese Yen Regains Ground; Bitcoin Pares Losses; UK CPI Falls

Forex Today: Markets Await FOMC Meeting

Mar 20, 2024 | 00:06 am

FOMC Expected to Leave Rate at 5.50%; Japanese Yen Continues to Fall After BoJ; Bitcoin Weaker; Markets Await UK Inflation Data, New Zealand GDP

Forex Today: Bank of Japan Ends Negative Interest Rates

Mar 19, 2024 | 00:26 am

BoJ Makes First Rate Hike Since 2007, Japanese Stocks Rally, Yen Weakens; RBA Leaves Rates at 4.35%; Cocoa Futures Slightly Lower After Record High Yesterday; Bitcoin Weaker; Markets Await Canadian Inflation Data

Forex Today: Markets Expecting First BoJ Rate Hike in 17 Years

Mar 18, 2024 | 00:19 am

90% Expect BoJ to Ditch Negative Rates Policy Tuesday, Japanese Stocks Rallying; Bitcoin Rising After Another Record High Thursday; Cocoa Futures Roar Ahead With Dramatic Gains

Forex Today: Markets Await US PPI

Mar 14, 2024 | 00:24 am

US PPI Expected at 0.2%; Bitcoin Makes Another Record High Above $73,000; Cocoa Futures Roar Ahead.

Forex Today: US Inflation Ticks Higher to 3.2%

Mar 12, 2024 | 23:29 pm

US CPI Rises Unexpectedly; S&P 500 Makes Record High Close; Bitcoin Makes All-Time High Above $73,000

US Inflation Rises Unexpectedly to 3.2%

Mar 12, 2024 | 07:02 am

The US consumer price index (CPI) climbed 3.2% year-on-year in February, up from 3.1% in January and above the market estimate of 3.1%.

Forex Today: Markets Expecting Unchanged US Inflation Data

Mar 12, 2024 | 01:03 am

US CPI Seen at 3.1%; Bitcoin Hits New Record Below $73,000; Gold’s Bullish Momentum Starts to Pause

Forex Today: Gold, Bitcoin Looking Bullish Near Friday’s Record Highs

Mar 11, 2024 | 00:17 am

Gold, Bitcoin Advancing Again; Yen Higher on Japanese Rate Hike Bets and GDP Growth

ECB Maintains Interest Rates, Revises Lower Inflation Forecast

Mar 7, 2024 | 14:06 pm

The European Central Bank (ECB) maintained its deposit rate at a record high of 4.00% at today’s policy meeting. This decision was widely expected, and the Euro’s response has been muted.

Forex Today: Gold Makes New Record High Above $2161

Mar 6, 2024 | 23:41 pm

Gold Powers to New All-Time High; Powell Says Inflation Progress Not Assured; Japanese Rate Hike Seen Likely as Wages Rise; Bank of Canada Holds Rates; Markets Await ECB Meeting

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