EUR/USD 1.17858
0.110%
Gold 5096.86
2.005%
Oil 66.320
-0.480%
USD/JPY 155.059
0.041%
GBP/USD 1.34890
0.196%
GBP/JPY 209.162
0.248%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukraine claims that Russia launched a large-scale missile and drone attack that struck Ukraines energy infrastructure.On February 22, the Afghan Ministry of Defense issued a statement saying that Pakistan had once again violated Afghan territory, launching airstrikes on multiple civilian areas in Nangarhar and Paktika provinces. The attacks resulted in dozens of civilian casualties, including women and children. The Ministry of Defense strongly condemned Pakistans blatant violation of Afghan territorial sovereignty, considering it a serious breach of international law and the principle of good neighborliness. The Ministry warned that it would respond appropriately and carefully at the right time.February 22nd - According to Shanghai Railway Group, the Yangtze River Delta railway network is experiencing a peak in return passenger traffic on February 22nd, with an estimated 3.19 million passengers transported today, a year-on-year increase of 15.3%. Yesterday, 2.913 million passengers were transported, a year-on-year increase of 18.3%. Since the start of this years Spring Festival travel rush, the average daily passenger volume has been approximately 2.595 million. The railway department is increasing capacity on key routes and during peak hours to actively cope with the passenger flow peak, planning to add 584 passenger trains (378 through trains and 206 local trains) and expand the fleet of high-speed trains by 366.February 22nd - According to data from the Hong Kong-Zhuhai-Macau Bridge Border Inspection Station of the Zhuhai Border Inspection General Station, since February 15th (the 28th day of the twelfth lunar month), as of February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles entering and exiting through the Zhuhai Port of the Hong Kong-Zhuhai-Macau Bridge has exceeded 100,000, reaching 114,000. On February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles inspected by the border inspection department exceeded 20,000 for the first time in a single day, setting a new historical high since the implementation of the "Macau vehicles traveling north" and "Hong Kong vehicles traveling north" policies.February 22 – Ahmed Altom, Director General of the Geological Research Authority of Sudan, stated on February 21 that the armed conflict in Sudan has caused approximately $7 billion in economic losses to the countrys mining industry. Altom said that the conflict has severely damaged Sudans mining infrastructure, reducing government-led mining activities from 18 states to 6. Geological surveys, exploration operations, and mining production have all been significantly affected, resulting in a sharp decline in related fiscal revenue.

The EUR/USD exchange rate fluctuates below 1.0850 as focus shifts to US PPI and Retail Sales data

Alina Haynes

Jan 16, 2023 10:59

 EUR:USD.png

 

As U.S. markets are closed on Monday in honor of Martin Luther King Jr.'s birthday, the EUR/USD pair is attempting to establish a trend. As investors anticipate the release of Producer Price Index (PPI) and Retail Sales data from the United States, the main currency pair is trading below 1.0840.

 

S&P500 futures had some selling pressure early in the Asian session, but have since recovered their losses and turned positive, signaling an improvement in risk appetite on the market. Under the influence of a positive market mentality, the US Dollar Index (DXY) is attempting to break below the immediate support level of 101.75.

 

The U.S. Consumer Price Index (CPI) slowed in December, bolstering the case for the Federal Reserve (Fed) to announce a smaller interest rate increase in the near future. As the Fed seeks to end policy tightening, the USD Index may continue its downward trend for an extended period of time in the future.

 

According to analysts at Wells Fargo, the conclusion of monetary tightening should put an end to the dollar's advances by early 2023. In fact, we believe the trade-weighted dollar has already reached its cyclical peak." Once the Fed begins reducing its policy interest rate at the beginning of the following year, they anticipate an even more pronounced USD depreciation in 2024.

 

On Wednesday, investors will focus on the release of US Producer Price Index (PPI) data. The street anticipated a decline as a result of the decline in gasoline prices, which has enabled manufacturers to drop prices at factory gates as a result of reduced production costs. In addition, price reductions will counteract a decline in retail demand. Additionally, Retail Sales figures will be extensively examined.

 

Meanwhile, Eurozone investors are pleased that Germany's preliminary Gross Domestic Product (GDP) expanded 1.9% on an annualized rate in 2022, compared to the market consensus of 1.8% and the previous release of 2.5%.

Suggestion