Last week had the US CPI and PPI releases which would give guidance to how the Fed may react in the coming weeks. The CPI showed further inflation slowdown and the PPI also surprised on the lower side.
This moved the US Dollar lower through the week, but Friday saw the expected relief rally. DXY lost 0.5% to close around 101.5 having been as low as 100.8 before rebounding.
Euro continues to see positive moves as the ECB has become more hawkish than the Fed. The EUR briefly breaking the 1.10 level and closed the week almost 1% stronger vs the USD.
GBP ended the week flat consolidating the previous week’s gains. GBP traders will be looking towards next week CPI and PMI data which could push the GBP higher.
Commodity currencies had a mixed week. In general risk assets moved higher which helped AUD which gained around 0.75% but NZD was the loose of the week falling 1.2%.
Oil was still riding on the wave of the previous weeks OPEC+ cuts and supply does remain tight. WTI rallied a further 2.8% closing around $82.50.
The week ahead is data heavy especially for inflation numbers. the Eurozone, UK, Canada and New Zealand all have inflation related numbers along with UK PMI and employment numbers.
Weekly Majors Market Performance
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The post Are We Reaching Pivot? first appeared on trademakers.
The post Are We Reaching Pivot? first appeared on JP Fund Services.
The post Are We Reaching Pivot? appeared first on JP Fund Services.
Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.
