Saturday, July 2, 2022
  • Login
Fox Finances
No Result
View All Result
  • Home
  • Business
  • Stocks
  • Investments
  • Commodities
  • Forex
  • Crypto
  • Insurance
  • PF
  • Markets
  • Startups
  • Real Estate
  • Home
  • Business
  • Stocks
  • Investments
  • Commodities
  • Forex
  • Crypto
  • Insurance
  • PF
  • Markets
  • Startups
  • Real Estate
No Result
View All Result
Fox Finances
No Result
View All Result
Home Forex

Greenback down on the cooler US inflation

Fox Finances by Fox Finances
September 14, 2021
in Forex
0
0
SHARES
46
VIEWS
Share on FacebookShare on Twitter


The US CPI report undershot estimates in August, with gains of 0.3% for the headline and 0.1% for the core, leaving more moderate gains over the last two months after four months of outsized gains, suggesting we may be turning the corner on supply chain disruptions. The August gains rounded from respective increases of 0.274% and 0.102%. The big updraft in vehicle prices and airfares plateaued in July and reversed course in August, after a massive three-month climb that fueled big headline gains. We’re seeing persistent gains in most of the remaining components, so there is still substantial price pressure. On a moving average basis, CPI headline gains are still trending higher. We have 6-month average price gains of 0.615% for the headline and 0.550% for the core, versus respective 12-month average gains of 0.424% and 0.326%. For the August PCE chain price indexes, we assume gains of 0.2% for the headline and 0.1% for the core. This would leave the y/y headline metric slipping to 4.1% from 4.2% in July, while the y/y PCE core metric falls to 3.4% from 3.6%.

US headline CPI underpinned the Fed’s expectation of “transient” as reopening pressures eased off.

The US Dollar fell following the cooler than expected CPI outcome. USDJPY dropped from intra day highs of 110.15 to 109.87, while EURUSD rallied to 1.1846 from near 1.1805. USDCAD dropped to 1.2600 lows from 1.2655 following the mix of data, which helped to take USOIL to over 1-month highs, a CAD plus. The in-line Canada July manufacturing shipments print, which included a sharply upwardly revised June outcome, helped the loonie as well. Friday’s 1.2583 low marks the next downside Support for USDCAD, while a break below it could open the doors to 1.2500 and 1.2420 levels.

USOIL prices also remain underpinned and trading around the $71 per barrel, after another storm threatens the US energy hub in the Gulf of Mexico. ‘Nicholas’ made landfall in Texas after being upgraded to a hurricane and will add to existing problems for coastal refineries and petrochemical facilities. The IEA highlighted that global oil supplies fell by 540k barrels a day in August thanks to unexpected disruptions and thus wiped out extra supply from OPEC+. Overall outlook for the USOIL remains positive with next Resistance levels at $72.24 (upper Daily BB line), and $74.00-$74.55 (June 21st peak and 88.6% Fib. level.) Support held at 61.8% Fib level, at $70.55.

Nevertheless, equity futures headed higher after the data, with the major index contracts indicating about a 0.3% higher Wall Street open. Treasury yields are a bit lower, with the front-end and belly of the curve outperforming.

Click here to access our Economic Calendar

Andria Pichidi

Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.



Source link

Tags: coolerGreenbackInflation
Previous Post

*HOT* Coach Corner Zip Wristlets only $23.40 shipped (Reg. $78!)!

Next Post

After closing new €126.6M fund, Techstars launches two new accelerator programmes in Paris, Stockholm

Next Post

After closing new €126.6M fund, Techstars launches two new accelerator programmes in Paris, Stockholm

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

The UN Just Put Up A Giant Statue In New York That Resembles A “Beast” Described In The Book Of Revelation – Investment Watch

December 9, 2021

Homeowners Insurance for First-Time Buyers

June 27, 2022

China coronavirus – Shanghai reports Covid-19 case outside quarantine area

May 28, 2022

Is the City-State Ready to Become Asia’s Next Crypto Hub?

June 25, 2022

U.S. IPO Weekly Recap: Just One Small IPO As Ivanhoe Electric Delays Pricing

June 25, 2022

The Top 3 Ways Retirees Want to Be Remembered

June 20, 2022

Educational material for commodities

May 28, 2022

Am I Cruel to Make My Husband Work if We Don’t Need the Money?

March 6, 2022

Longboat Energy, OMV complete exploration farm-in agreement offshore Norway

July 2, 2022

New baby (due in 3 weeks), 529 or IRA or something else? : personalfinance

July 2, 2022

Macron Tells Biden to Rethink Energy Plans – Investment Watch

July 2, 2022

Bitcoin will see ‘long bear market’ says trader with BTC price stuck at $19K

July 2, 2022

Celsius’ Unsuccessful Attempt to Stabilize Liquidity

July 2, 2022

How to Use Home Equity to Buy Rentals

July 2, 2022

Which ‘Strong Buy’ Dividend Stocks Face the Most Upside?

July 2, 2022

NerdWallet Small-Business Financing Index: Businesses Are Steady Amid Worries

July 2, 2022

Ads

Fox Finances

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business and Finance
  • Commodities
  • Cryptocurrency
  • Forex
  • Insurance
  • Investments
  • Market Research
  • Personal Finance
  • Real Estate
  • Startups
  • Stock Market

RECENT UPDATES

  • Longboat Energy, OMV complete exploration farm-in agreement offshore Norway
  • New baby (due in 3 weeks), 529 or IRA or something else? : personalfinance
  • Macron Tells Biden to Rethink Energy Plans – Investment Watch
  • Home
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2021 Fox Finances.

No Result
View All Result
  • Home
  • Business
  • Stocks
  • Investments
  • Commodities
  • Forex
  • Crypto
  • Insurance
  • PF
  • Markets
  • Startups
  • Real Estate

Copyright © 2021 Fox Finances.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In