US Retail Sales Weak and UK CPI Stronger, But the Focus is on FOMC
November Retail Sales were 0.3% MoM for November vs an expectation of 0.9% MoM, much lower than October’s 1.8% MoM print. Retail Sales ex-autos were also 0.3% MoM vs an expectation of 0.7% MoM and a 1.8% MoM reading in...
Homebuilder confidence ends the year on a high even as costs rise and labor is in short supply
Construction workers frame a new home being built by CastleRock Communities in the Sunfield neighborhood of Buda, Texas, U.S., on Wednesday, Nov. 10, 2021. Matthew Busch | Bloomberg | Getty Images Surprisingly strong housing demand, even in the usually slower...
Dollar Mixed after Weak Retail Sales, Fed Next
Dollar is trading mixed in early US session after weaker than expected retail sales data. The greenback is extending recent rally against Canadian, but pulls back against Australian. European majors are mixed while Yen is also trading a touch weaker....
USD/CAD Reaches Above Resistance Zone
Eventually, the USD/CAD pair reached above the December high level zone and the weekly R1 simple pivot point at 1.2835/1.2853. On Wednesday morning, the rate confirmed the zone as support. Meanwhile, the rate has confirmed that it is trading in...
GBP/JPY Breaks Resistance
On Wednesday morning, the GBP/JPY currency exchange rate broke the high level zone at 150.67/150.77. However, the following surge appeared to have been stopped by the 151.00 mark. A move above the 151.00 level could aim at the weekly R1...
Two Trades To Watch: EUR/GBP, Gold
EUR/GBP falls as UK CPI keeps getting hotter The pound is edging higher after data revealed that inflation surged higher in November. UK CPI jumped to 5.1% in November, up from 4.2% in October and well ahead of the 4.7%...
The Fed Taking A More Decisive Approach On Inflation
Markets An unexpected acceleration in US PPI inflation (0.8% M/M and 9.6% Y/Y) yesterday triggered a temporary rise in US bond yields, reinforcing the case for decisive Fed action at today’s policy decision. Part of the move was reversed (in...
Dollar Firmer in Range as Focus Turns to FOMC
While Dollar is so far the strongest one for the week, there is clearly no follow through buying. The greenback is stuck in range against most others with traders on the sideline ahead of FOMC. Canadian and New Zealand Dollars...
China’s retail sales grow by 3.9% in November — slower than expected
A customer buys zodiac decorations for the Year of the Tiger at a market in Zhangjiagang city, East China’s Jiangsu province, Dec. 10, 2021. Shi Bairong | Future Publishing | Getty Images BEIJING — China’s retail sales missed expectations in...
The Federal Reserve is expected to take a very big step toward its first rate hike
The Federal Reserve is expected to announce a dramatic policy shift Wednesday that will clear the way for a first interest rate hike next year. Markets are anticipating the Fed will speed up the wind-down of its bond buying program,...