Add as a preferred source on Google
Market Roundup
• US CPI (YoY) (Sep) 3.7%, 3.6% forecast, 3.4% previous
•US Core CPI (YoY) (Sep) 2.6%, 2.5% forecast, 2.4% previous
•US Real Earnings (MoM) (Sep) -0.5%, 0.2% previous
•US Core CPI Index (Sep) 338.90, 337.77 previous
•US CPI Index, n.s.a. (Sep) 336.94, 336.65 forecast, 334.98 previous
•US CPI, n.s.a. (MoM) (Sep) 0.59%, 0.32% previous
•US CPI Index, s.a. (Sep) 336.30, 334.13 previous
•Canada Building Permits (MoM) (Aug) 8.8%, 2.9% forecast, -15.8% previous
•US Cleveland CPI (MoM) (Sep) 0.2%, 0.2% previous
Looking Ahead Economic Data (GMT)
• No data Ahead
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Summaries
EUR/USD : The euro initially dipped but recovered ground as market digested data US inflation data. US Labor Department data showed the core consumer price index up 0.3% in September versus economist expectations for a rise of 0.2%. On an annual basis, core CPI, which strips out food and energy prices, rose 2.6%, above forecasts for a rise of 2.5%, while the headline rate rose 3.7%, above estimates for a rise of 3.6%. The ECB's Lagarde said at a CNN event in Bangkok that France should solve its debt woes through fiscal consolidation, damping speculation about whether the central bank might start buying French bonds to contain yields. The euro dropped 0.4% to $1.1153 Immediate resistance can be seen at 1.1126(Daily high), an upside break can trigger rise towards 1.1285(38.2%fib).On the downside, immediate support is seen at 1.1147(23.6%fib), a break below could take the pair towards 1.1056(Lower BB).
GBP/USD: The pound initially dipped but recovered ground as investors digested US consumer inflation data and awaited UK GDP data. The Labor Department said its core consumer price index rose 0.3% in September from August, versus economist expectations for a rise of 0.2%. On an annual basis, core CPI, which strips out food and energy prices, rose 2.6%, above forecasts for a rise of 2.5%, while the headline rate rose 3.7%, above estimates for a rise of 3.6%. Looking ahead, investors awaited UK GDP data for fresh clues about the strength of the British economy.The UK economy is projected to have contracted 0.1% in August following solid growth of 0.4% in July, with upcoming manufacturing and industrial production data expected to provide additional clues about economic conditions. Immediate resistance can be seen at 1.3262(SMA20), an upside break can trigger rise towards 1.3279(38.2%fib).On the downside, immediate support is seen at 1.3171(23.6%fib), a break below could take the pair towards1.3145(Lower BB).
USD/CAD: Canadian dollar retreated on Wednesday as investors assessed US inflation data for September . US inflation accelerated beyond forecasts last month, reinforcing market bets that the Federal Reserve may raise interest rates again as soon as this month. Hotter-than-expected US CPI has revived expectations of near-term Fed tightening, with PPI, retail sales and further Fed commentary now in focus. Traders see a 46% chance that the Federal Reserve will raise interest rates by a quarter percentage point on October 28. Meanwhile, Canada is pursuing a trade pact with India and closer EU ties to reduce reliance on the US, ahead of Indian PM Narendra Modi's visit in December. Immediate resistance can be seen at 1.4307(23.6%fib), an upside break can trigger rise towards 1.4348(Higher BB).On the downside, immediate support is seen at 1.4201(38.2%fib), a break below could take the pair towards 1.4181 (SMA 20).
USD /JPY : The US dollar initially gained but reversed course as investors digested US inflation data . US Labor Department data showed the core consumer price index up 0.3% in September versus economist expectations for a rise of 0.2%. On an annual basis, core CPI, which strips out food and energy prices, rose 2.6%, above forecasts for a rise of 2.5%, while the headline rate rose 3.7%, above estimates for a rise of 3.6%.The dollar was last up 0.28% against the yen at 158.74, while the index, which tracks the currency against six peers, was last up 0.44% at 102.62. Immediate resistance can be seen at 158.14(50%fib), an upside break can trigger rise towards 158.38(SMA 20).On the downside, immediate support is seen at 157.38(61.8%fib) a break below could take the pair towards 157.64(Lower BB).
Equities Recap
European stocks edged higher on Wednesday as strong earnings from ASML eased concerns over AI demand, while healthcare shares climbed to their highest level in more than five weeks.
UK's benchmark FTSE 100 closed up by 0.70percent, Germany's Dax ended up 0.15%, France’s CAC finished the day up by 0.58 percent.
The Nasdaq closed sharply lower on Wednesday as hotter-than-expected US inflation data heightened concerns that the Federal Reserve could raise interest rates further.
Dow Jones closed down by 0.09 % percent, S&P 500 closed down by 1.10% percent, Nasdaq settled down by 1.88% percent.
Commodities Recap
Gold prices fell more than 1% on Wednesday, extending their decline for a third consecutive session as hotter-than-expected US inflation strengthened expectations of a Federal Reserve rate hike this month.
Spot gold dropped 1.8% to $4,083.94 per ounce by 2:05 p.m. EDT (1805 GMT), its lowest since October 7. US gold futures for December delivery settled 1.7% lower at $4,107.90 per ounce.
Oil prices climbed on Wednesday after Houthi rebels attacked Saudi Aramco’s headquarters, while Iran announced new tactics to target ships, raising concerns over supply disruptions and supporting prices.
Brent crude futures settled up 37 cents, or 0.35%, at $106.06 a barrel. US West Texas Intermediate crude gained 95 cents, or 1.01%, to $95.09, a three-week high.
