EUR/USD 1.17195
0.981%
Gold 3373.09
1.032%
Oil 63.693
0.481%
USD/JPY 146.956
-0.958%
GBP/USD 1.35180
0.784%
GBP/JPY 198.637
-0.175%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 23, US President Trump tweeted, "I am pleased to announce that the radical left representatives working at the Congressional Budget Office (CBO) have now acknowledged the remarkable success of my tariff strategy. They are saying, Trumps tariffs have reduced the deficit by $4 trillion. When I began proposing tariffs, they refused to acknowledge the potential success. Now the deficit is down, taxes are down, energy is down, prices are generally down, and the only things that have gone up are take-home pay, the stock market, and our country, which is the hottest in the world."US President Trump: Furniture imported from other countries to the United States will be subject to tariffs, and the tax rate is to be determined.On August 23rd, local time, Yemens Houthi rebels issued a statement claiming they had conducted military operations against multiple targets in Israel that day, including launching a Palestine-2 hypersonic ballistic missile at Ben-Gurion Airport near Tel Aviv. Additionally, two other operations targeted an Israeli military target and a key facility in the Ashkelon and Jaffa regions, respectively. On the evening of the 22nd, the Israeli military reported detecting and intercepting a missile approaching from Yemen.Nick Timiraos, the "Federal Reserve mouthpiece": Federal Reserve Chairman Powell changed direction again at the Jackson Hole conference, but compared with last year, this time he was obviously more cautious because inflation is gradually deviating from the Feds target and policy is no longer as tight as it was a year ago.The Dow Jones Industrial Average closed up 846.24 points, or 1.89%, to 45,631.74 on Friday, August 22; the S&P 500 closed up 96.74 points, or 1.52%, to 6,466.91 on Friday, August 22; and the Nasdaq Composite closed up 396.22 points, or 1.88%, to 21,496.53 on Friday, August 22.

In ahead of US NFP and Eurozone Inflation data, EUR/USD seeks a range break near 1.0600

Alina Haynes

Jan 05, 2023 15:11

 EUR:USD.png

 

During the Asian session, the EUR/USD pair attempted to break out of the consolidation range it formed above the round-level support of 1.0600. Given the risk-on market mentality, it is expected that the major currency pair will continue its upward trend.

 

In Asia, S&P500 futures are indicating a modest retracement, but the overall risk profile remains sturdy following Wednesday's strong advances. The US Dollar Index (DXY) is languishing below 104.00 and is likely to continue on edge as further reduction of inflation expectations in the United States is expected to keep safe-haven assets under pressure in the short term.

 

According to the Federal Open Market Committee (FOMC) minutes, all Federal Reserve (Fed) policymakers favored a more gradual rate of policy tightening. For Fed members to abandon their hawkish view on monetary policy, greater evidence of inflation moderation is required.

 

According to Reuters, the president of the Minneapolis Fed, Neel Kashkari, emphasized on Wednesday that the Fed must avoid hastily lowering the policy rate and reigniting inflation. In order to attain the inflation target of 2%, he suggested that the interest rate should peak at approximately 5.4% and then remain stable.

 

This week, investors will closely monitor the second catalyst considered by the Federal Reserve when crafting monetary policy. Friday's Nonfarm Payrolls (NFP) are projected to be 200K, a decrease from the previous report's 263K. In addition, investors will pay attention to the Average Hourly Earnings (Dec) data, which is expected to be 5% lower. Given that consumers will continue to have more discretionary spending, a rise in wage expenses may cause the Consumer Price Index to grow (CPI).

 

Investors anticipate the release of the Eurozone's Harmonized Index of Consumer Prices (HICP) on Friday. According to the consensus, the headline HICP is projected to decrease from 10.1% to 9.7%. Consensus has diminished as a result of falling energy prices and the government's one-time reimbursement of family energy expenses. Certainly, the European Central Bank (ECB) will be fascinated by this in the future.

Suggestion