The Japanese yen continues to have a quiet week. In the North American session, USD/JPY is trading at 151.36, down 0.03%.
Bank of Japan core inflation fell to 2.3% in February, down from 2.6% in January and shy of the market estimate of 2.5%. The release further complicates the inflation picture in Japan, as we continue to see inflation indicators heading in all...
Macro Monday 23
US Factory Orders - ECONOMICS:USFO - Released Today
U.S. Factory Orders (USFO) are reported by the U.S. Census Bureau at the start of each month. The next release for the month of October is today Monday 4th Dec 2023 at 15:00 GMT.
The USFO Report provides information on the total dollar value of new orders, shipments, and unfilled orders for...
Macro Monday 18
Using New Orders for Durable Goods to Anticipate Market Direction
This week we are using the Manufacturers New Orders for Durable Goods Survey data (“Durable Goods”) to help anticipate price movements on the S&P500. The 30 month moving average for Durable Goods can act as a threshold level for buy and sell signals for the S&P500 whilst also...
The euro has bounced back on Friday after sliding 0.99% a day earlier. In the European session, EUR/USD is trading at 1.1018, up 0.38%. On the economic calendar, the US PCE Price index, the Fed's preferred inflation gauge, fell to 3.0% in June, down from 3.8% in May.
The European Central Bank raised interest rates by 0.25% on Thursday, bringing the main rate to...
EUR/USD has edged lower on Wednesday. In the European session, EUR/USD is trading at 1.0939, up 0.20%.
The German GfK Consumer Sentiment report found that consumer confidence is expected to fall in July to -25.4, down from a downwardly revised -24.4 in June. The report noted that the German consumer is reluctant to spend due to economic uncertainty, and high...
The Canadian dollar spiked and gained 50 points after Canada released the May inflation report but has pared these gains. USD/CAD is unchanged at 1.3158.
Canada's inflation rate fell sharply in May to 3.4%, down from 4.4% in April. As expected, much of that decline was due to lower gasoline prices. Still, this is the lowest inflation rate since June 2021.The core...
