Consumer prices were up 0.6% month-on-month (m/m) in January, matching December’s pace, and slightly higher than markets were expecting. The year-on-year (y/y) pace of inflation ticked higher to 7.5%. Food and energy prices both rose Read more…
US inflation surged to a fresh 40 year high and was hotter than forecast sending tech stocks sharply lower and the USD higher. US futures Dow futures -0.2% at 35608 S&P futures -0.9% at 4543 Read more…
Daily Pivots: (S1) 1.1402; (P) 1.1425; (R1) 1.1447; More… EUR/USD drops notably but stays well above 1.1265 support. Intraday bias remains neutral first and outlook is unchanged. A medium term bottom could be in place Read more…
Daily Pivots: (S1) 1.3512; (P) 1.3550; (R1) 1.3574; More… GBP/USD is still bounded in tight range below 1.3627 and intraday bias remains neutral first. On the upside, break of 1.3627 will resume the rebound to Read more…
Daily Pivots: (S1) 0.9224; (P) 0.9240; (R1) 0.9257; More…. USD/CHF rebounds strongly today but stays in established range. Intraday bias remains neutral first. Further rise will remain mildly in favor as long as 0.9090 support Read more…
Analysts have been ramping up their inflation expectations and not even one of them in Bloomberg economists’ survey had forecast a headline CPI print of below 7% ahead of the much-anticipated release today. You can Read more…
Tesla’s CEO and, incidentally, the richest man in the world claims Tesla made an ‘idiotic’ mistake by pausing Model X output in December 2020. It is an event so rare that it deserves to be Read more…
Daily Pivots: (S1) 115.35; (P) 115.52; (R1) 115.71; More… USD/JPY’s rebound from 113.46 resumed by breaking 115.68 resistance. Intraday bias is back on the for 116.34 high. Firm break there will resume larger up trend Read more…
Dollar rebounds broadly in early US session after stronger than expected CPI data. Treasury yields also surged with 10-year yield marching higher. 2% level for 10-year yield is getting closer. Stocks on the other hand, Read more…
Over the month, US CPI rose 0.6% mom in January, above expectation of 0.4% mom. CPI core rose 0.6% mom, above expectation of 0.5% mom. Over the 12-month period, CPI accelerated from 7.0% yoy to Read more…