*Australia Retail Sales -3.9% On Month In December

Australia Retail Sales -3.9% On Month In December

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206512/

*South Korea Industrial Production -2.9% On Month, -7.3% On Year In December

South Korea Industrial Production -2.9% On Month, -7.3% On Year In December

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206509/

Oil Futures Settle At Near 3-week Lows On Demand Concerns

Oil prices fell to near 3-week lows on Monday amid concerns about global economic growth and the outlook for oil demand.

Russian President Vladmir Putin's decision to let Russian energy companies decide on pricing pricing and exports issues weighed on oil prices.

Oil prices found some support earlier in the session on reports about a drone strike on an Iranian defense facility over the weekend.

Oil also found some support amid optimism about demand recovery in China after reports said travel in the country recovered sharply during the week-long Lunar New Year holidays.

West Texas Intermediate Crude oil futures for March ended lower by $1.78 or about 2.2% at $77.90 a barrel.

Brent Crude futures were down $2.07 or 2.4% at $84.33 a barrel a little while ago.

Traders are looking ahead to a meeting of the Organization of Petroleum Exporting Countries and its allies (OPEC+) this week. The group is largely expected to maintain production at current levels.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206506/

Gold Futures Settle Lower For 3rd Straight Session

Gold prices drifted lower on Monday as the dollar firmed against other major currencies as markets looked ahead to the Federal Reserve's monetary policy announcement, due on Wednesday.

The dollar index, which was down at 101.66 in the Asian session, gained in strength as the session progressed and was up at 102.15, gaining about 0.25%.

Gold futures for April ended lower by $6.40 or about 0.3% at $1,939.20 an ounce.

Silver futures for March ended up $0.111 at $23.733 an ounce, while Copper futures for March settled at $4.2020 per pound, down $0.0205 from the previous close.

Analysts expecting the U.S. central bank to slow the pace of interest rate hikes to 25 basis points. The focus will be on the accompanying statement to see if there are chances of a soft landing for the economy.

Data on non-farm payrolls for the month of December, and reports on consumer confidence and manufacturing and services sector activity are also due this week.

The European Central Bank and the Bank of England are also scheduled to announce their interest rate decisions this week. The banks are widely expected to raise rates by 50 basis points.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206505/

USD/JPY Hovers at Key 130.00 Level as Rangebound Trade Continues

USD/JPY continues to fluctuate between gains and losses as the dollar index remains vulnerable. Will the Fed meeting inspire some renewed dollar strength? Via DailyFX - Market News https://ift.tt/UHhV64f

GBPUSD Stuck As Both Fed, BoE Interest Rate Calls Loom

The British Pound has enjoyed plenty of interest rate support despite the shakiness of its home economy. Can it hope for more this week? Via DailyFX - Market News https://ift.tt/UHhV64f

*Malaysia Dec Producer Prices -0.3% On Month Vs. +0.6% In November

Malaysia Dec Producer Prices -0.3% On Month Vs. +0.6% In November

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206435/

What is Leverage in Forex? Forex Leverage Explained

Find out how leverage works and how to manage your risk when trading FX with leverage. Via DailyFX - Market News https://ift.tt/UHhV64f

US Dollar Poised Ahead of Fed as China Returns. Where to for USD?

The US Dollar is steady so far today as the market ponders the Federal Reserve rate outlook and weighs tightening central banks against a potentially expanding Chinese economy. Will DXY go lower? Via DailyFX - Market News https://ift.tt/UHhV64f

Crude Oil Price Firms as Markets Appraise Fed Hiking Against China Re-opening

Crude oil has made some ground today after sliding lower to end last week as US recession fears swirl while Chinese markets return from holidays today. Where to for WTI? Via DailyFX - Market News https://ift.tt/UHhV64f

New Zealand Trade Data Due On Monday

New Zealand will on Monday release December data for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.

In November, imports were worth NZ$8.54 billion and exports were at NZ$6.68 billion for a trade deficit of NS$1,863 million.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206430/

Markets Week Ahead: US Dollar, Euro, British Pound, Gold, Dow Jones, Fed, ECB, BoE

Traders are eyeing the Fed, BoE and ECB rate decisions for the US Dollar, British Pound and Euro, respectively. Will central banks disappoint, bringing back market volatility? Via DailyFX - Market News https://ift.tt/UHhV64f

Gold Price Forecast: Easing Financial Conditions Leave the Fed in a Tricky Spot

Gold prices might fall if the Federal Reserve disappoints dovish market expectations that have led to easing financial conditions before inflation is back to target.

Dollar Yen Forecast: USD/JPY Remains Conflicted Around 130.000

USD/JPY is currently trading in a narrow zone of support and resistance around the psychological level of 130.000. Is this the calm before the storm?

Weekly Euro Forecast: ECB Hike Priced in and Has Core Inflation Peaked?

The ECB unite, signaling multiple 50 bps hikes as core inflation proves sticky thus far, and the economic outlook for Europe is improving as a gas shortage has been avoided.

Dollar is Volatility Bound with FOMC, NFPs and Earnings…But Is There a Trend?

The US Dollar is facing a very high probability of volatility and a breakout from an extremely tight range out of necessity. However, that doesn’t guarantee that what we absorb will lead to a definitive trend. Here are the stakes for the Greenback with the Fed rate decision, top US earnings and nonfarm payrolls on tap.

Australian Dollar Technical Outlook: AUD/USD Tests Key Resistance

AUD/USD has run into key resistance ahead of a spate of central bank rate decisions, including the US Federal Reserve, the European Central Bank, and the Bank of England. What is the outlook and what are the key levels to watch?

S&P 500 and NASDAQ 100 INDEX Technical Outlook: Turning Bullish

Developments on the charts suggest US equity indices could be preparing for a break higher, raising the prospect that the worst could be over for now. What is the outlook on the S&P 500 index and the Nasdaq 100 index and what are the levels to watch?

Expect A Dollar Breakout and Potentially a S&P 500 Trend Next Week with FOMC On Tap

Though it may not seem the case, the Dollar and S&P 500 have been in the same position through the end of this week: indecisive with a clear lack of core speculative conviction. The DXY’s extreme range and SPX choppy climb will face serious volatility with a heavy docket this week, but can they find a clear trend? Via DailyFX - Market News https://ift.tt/ERQ0d5T

Oil Futures Settle Sharply Lower

Crude oil prices fell on Friday and pushed the most active crude futures contract to a more than one-week low, amid uncertainty about the outlook for oil demand.

Profit taking after recent gains and indications that oil supply from Russia will see a surge weighed on oil prices.

Oil prices climbed higher earlier in the session, riding on hopes about Chinese economic growth, and data showing a stronger than expected increase in U.S. GDP.

West Texas Intermediate crude oil futures for March ended down $1.33 or about 1.6% at $79.68 a barrel. WTI crude futures shed about 2.4% in the week.

Brent crude futures were down $1.09 or 1.25% at $86.38 a barrel.

According to reports, oil loadings from Russia's Baltic ports are likely to rise by 50% this month as sellers gear up to meet strong demand in Asia.

OPEC and allies are scheduled to meet next week to review crude production levels. The Federal Reserve's monetary policy meeting, scheduled to take place on January 31 and February 1 is eyed as well.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206429/

Gold Futures Settle Slightly Lower

Gold futures settled slightly lower on Friday, but still managed to record a gain for a sixth consecutive week.

The dollar index dropped to a low of 101.58 before rallying to 102.19. However, the index eased to 102.00 subsequently.

Gold futures ended down $0.60 at $1,929.40 an ounce.

Silver futures for March ended lower by $0.398 at $23.622 an ounce, while Copper futures for March settled at $4.2225 per pound, down $0.0450 from the previous close.

On the U.S. economic front, a report from the Commerce Department showed personal income inched up by 0.2% in December after rising by a downwardly revised 0.3% in November.

Economists had expected personal spending to edge up by 0.2% compared to the 0.4% increase originally reported for the previous month.

The data said personal spending dipped by 0.2% in December after slipping by 0.1% in November. The modest decrease matched economist estimates.

The report also said core consumer prices, which exclude food and energy prices, rose by 0.3% in December after inching up by 0.2% in November.

The inflation reading, which is said to be preferred by the Fed, was expected to show another 0.2% uptick.

The Commerce Department said the annual rate of growth in core consumer prices slowed to 4.4% in December from 4.7% in November.

A separate report from the National Association of Realtors showed an unexpected rebound in pending home sales in December, while the University of Michigan upwardly revised its reading on consumer sentiment in January.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206427/

*Australia Export Prices -0.9% On Quarter In Q4; Import Prices +1.8% On Quarter

Australia Export Prices -0.9% On Quarter In Q4; Import Prices +1.8% On Quarter

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206369/

*Australia Producer Prices +0.7% On Quarter, +5.8% On Year In Q4

Australia Producer Prices +0.7% On Quarter, +5.8% On Year In Q4

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206367/

*South Korea Business Confidence Index 66.0 In January Vs. 71.0 In December - BoK

South Korea Business Confidence Index 66.0 In January Vs. 71.0 In December - BoK

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206363/

Australian Dollar May Rise After US GDP Boosted Dow Jones, S&P 500, Nasdaq 100

The Australian Dollar may rise if Asia-Pacific markets follow the rosy lead set on Wall Street as US GDP data sent the Dow Jones, S&P 500 and Nasdaq 100 higher. Via DailyFX - Market News https://ift.tt/wfbGzXE

Crude Oil Jumps On Optimism About Demand

The price of crude oil showed a strong move to the upside during trading on Thursday, adding to the uptick seen in the previous session.

After inching up $0.02 or less than a tenth of a percent to $80.15 a barrel on Wednesday, crude for March delivery jumped $0.86 or 1.1 percent to $81.01 a barrel.

Crude oil benefited from optimism about the outlook for demand following the release of some upbeat U.S. economic data, including a Commerce Department report showing stronger than expected economic growth in the fourth quarter of 2022.

The report said real gross domestic product shot up by 2.9 percent in the fourth quarter after spiking by 3.2 percent in the third quarter. Economists had expected GDP to jump by 2.6 percent.

The Labor Department also released a report showing initial jobless claims unexpectedly dipped to a nine-month low in the week ended January 21st.

Separate Commerce Department reports also showed a spike in durable goods orders and a continued increase in new home sales.

"Crude prices got an unexpected boost from a U.S. economy that doesn't want to break," said Edward Moya, senior market analyst at OANDA. "Another round of US data supported the argument that this economy still could get a soft landing, which is very positive for the short-term crude demand outlook."

He added, "Improving news with China's COVID situation and a resilient US economy should keep oil prices supported above the $80 region."

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206361/

Gold Prices Give Back Ground Following Upbeat Economic Data

After closing higher for five consecutive sessions, the price of gold gave back ground over the course of the trading day on Thursday.

Gold for February delivery slid $12.60 or 0.7 percent to $1,930 an ounce after rising $7.20 or 0.3 percent to a nine-month closing high of $1,942.60 an ounce in the previous session.

The pullback by the price of gold came as some upbeat U.S. economic data reduced the precious metal's safe-haven appeal.

An uptick by the value of the U.S. dollar also weighed on gold prices, with the U.S. dollar index inching up 0.22 points or 0.2 percent to 101.87.

Gold prices gave back ground following the release of a Commerce Department report showing U.S. economic activity surged by more than expected in the fourth quarter of 2022.

The report said real gross domestic product shot up by 2.9 percent in the fourth quarter after spiking by 3.2 percent in the third quarter. Economists had expected GDP to jump by 2.6 percent.

The stronger than expected GDP growth reflected increases in private inventory investment, consumer spending, government spending, and non-residential fixed investment.

Meanwhile, the positive contributions were partly offset by decreases in residential fixed investment and exports.

The Labor Department also released a report showing initial jobless claims unexpectedly dipped to a nine-month low in the week ended January 21st.

Separate Commerce Department reports also showed a spike in durable goods orders and a continued increase in new home sales.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206360/

South Korea GDP Sinks 0.4% In Q4

South Korea's gross domestic product contracted a seasonally adjusted 0.4 percent on quarter in the fourth quarter of 2022, the Bank of Korea said on Thursday.

That missed expectations for a decline of 0.3 percent following the 0.3 percent increase in the previous three months.

Real gross domestic income increased 0.1 percent on quarter.

On the expenditure side, private consumption fell 0.4 percent as expenditures on goods (household appliances, clothing and footwear) and services (restaurants and accommodation, recreation and culture) decreased.

Government consumption rose 3.2 percent, with increased expenditures on goods and health care benefits. Construction investment expanded by 0.7 percent, as non-residential building construction increased. Facilities investment was up by 2.3 percent, driven by increases in machinery investment.

Exports contracted by 5.8 percent, as exports of goods such as semiconductors and chemical products decreased. Imports declined by 4.6 percent, owing to decreased imports of crude oil and basic metals.

On the production side, agriculture, forestry and fishing rose by 1.5 percent due to increased crop yields. Manufacturing fell by 4.1 percent, mainly due to decreases in computer, electronic and optical products and chemical products.

Electricity, gas and water supply was up by 1.0 percent, due to increased gas supply. Construction expanded by 1.9 percent, owing to increases in building construction. Services grew by 0.8 percent, led by transportation and storage and finance and insurance services.

On an annualized basis, GDP expanded 1.4 percent - also shy of forecasts for a gain of 1.6 percent and slowing from 3.1 percent in the third quarter.

For all of 2022, South Korea's GDP expanded 2.6 percent.

On the expenditure side, construction and facilities investment declined and the growth of exports and imports slowed while private consumption grew.

On the production side, while manufacturing growth slowed, the growth of services slightly expanded.

Real GDI decreased by 1.1 percent. As the terms of trade worsened due to factors such as a rise in the price of crude oil, real GDI fell short of real GDP.

Also on Thursday, the Bank of Korea said that consumer confidence improved in January with a consumer confidence index score of 90.7 - up from 90.2 in December.

Consumer sentiment for current living standards was one point lower at 82, and the future outlook was unchanged at 85.

Consumer sentiment related to future household income was one point higher at 96, and future household spending was two points higher at 110.

Consumer sentiment concerning current domestic economic conditions was unchanged at 51, and the outlook was two points lower at 60.

The expected inflation rate for the upcoming year was 3.9 percent.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206293/

South Korea GDP Data Due On Thursday

South Korea will on Thursday release preliminary Q4 numbers for gross domestic product, highlighting a modest day for Asia-Pacific economic activity.

GDP is expected to contract 0.3 percent on quarter and expand 1.5 percent on year after picking up 0.3 percent on quarter and 3.1 percent on year in the three months prior.

Singapore will provide December data for industrial production, with forecasts suggesting a decline of 1.1 percent on month and 6.9 percent on year. That follows the 1.2 percent monthly decline and the 3.2 percent yearly drop in November.

Hong Kong will see December figures for imports, exports and trade balance. In November, imports were down 20.3 percent on year and exports slumped n annual 24.1 percent for a trade deficit of HKD27.1 billion.

Finally, the markets in Taiwan and China remain closed on Thursday for the Lunar New Year holiday, while the Australian bourses are shuttered got Australia Day.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206289/

U.S. Dollar Seeing Modest Weakness After Overnight Strength

The value of the U.S. dollar has fluctuated over the course of trading on Wednesday as traders look ahead to the release of some key economic data in the coming days.

After seeing some strength in early morning trading, the U.S. dollar index has moved modestly lower and is currently down 0.28 points or 0.3 percent at 101.64.

The greenback is trading is 129.56 yen compared to the 130.17 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.0915 compared to yesterday's $1.0887.

The volatility on the day comes as traders look ahead to reports on fourth quarter GDP, durable goods orders and weekly jobless claims due to be released on Thursday as well as reports on personal income and spending and consumer sentiment due to be released on Friday.

The data could impact the outlook for the economy and interest rates ahead of next week's Federal Reserve meeting.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206288/

Japanese Yen Gains After Strong Demand at 2-Year Treasury Auction, Where to?

The Japanese Yen gained alongside a drop in US bond yields. The 2-year Treasury auction showed demand at its highest since 2020. Where to for USD/JPY? Via DailyFX - Market News https://ift.tt/pD16zgW

Treasuries Finish Choppy Trading Day Roughly Flat

After failing to sustain an early move to the upside, treasuries showed a lack of direction over the course of the trading session on Wednesday.

Bond prices bounced back and forth across the unchanged line before closing roughly flat. The yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point to 3.462 percent.

The choppy trading on the day came as traders look ahead to the release of some key U.S. economic data in the coming days.

Reports on fourth quarter GDP, durable goods orders and weekly jobless claims are due to be released on Thursday, while reports on personal income and spending and consumer sentiment are due to be released on Friday.

The data could impact the outlook for the economy and interest rates ahead of next week's Federal Reserve meeting.

Traders largely shrugged off the results of the Treasury Department's auction of $43 billion worth of five-year notes, which attracted well above average demand.

The five-year note auction drew a high yield of 3.530 percent and a bid-to-cover ratio of 2.64, while the ten previous five-year note auctions had an average bid-to-cover ratio of 2.40.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

On Tuesday, the Treasury revealed this month's auction of $42 billion worth of two-year notes also attracted strong demand.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206286/

Gold Futures Settle Higher For 5th Straight Session

Gold futures settled higher on Wednesday, gaining for a fifth straight session, as the dollar drifted down amid rising hopes the Federal Reserve will slow the pace of interest rate hikes.

The dollar index drifted down to 101.92 this morning, and despite recovering to 102.02 subsequently, faltered again and was last seen at 101.62, down nearly 0.3% from the previous close.

Gold futures for February ended higher by $7.20 or about 0.4% at $1,942.60 an ounce, the highest settlement in about nine months.

Silver futures for March ended up $0.192 at $23.941 an ounce, while Copper futures for March settled at $4.2445 per pound, down $0.0040 from the previous close.

The focus is now on the fourth-quarter U.S. GDP data due Thursday, which could set the tone for the Fed's Jan. 31-Feb. 1 policy meeting.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206285/

*Australia Consumer Prices +1.9% On Quarter, +7.8% On Year In Q4

Australia Consumer Prices +1.9% On Quarter, +7.8% On Year In Q4

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206229/

New Zealand Inflation Jumps 7.2% On Year In Q4

Consumer prices in New Zealand were up 7.2 percent on year in the fourth quarter of 2022, Statistics New Zealand said on Wednesday.

That was unchanged from Q3 and exceeded expectations for 7.1 percent.

Individually, prices rose 8.0 percent on year for housing, 11 percent for food and 8.4 percent for transportation.

On a seasonally adjusted quarterly basis, inflation rose 1.4 percent - slowing from 2.2 percent in the three months prior but beating forecasts for 1.3 percent.

Individually, prices rose 1.3 percent on quarter for housing, 1.8 percent for food and 3.4 percent for recreation.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206228/

*New Zealand CPI +1.4% On Quarter, +7.2% On Year In Q4

New Zealand CPI +1.4% On Quarter, +7.2% On Year In Q4

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206227/

Silver Price Outlook: XAG/USD Relief Rally Buoyed by Dollar Weakness

Silver prices have recovered a large portion of yesterday’s losses after testing psychological support at $23.00. With USD weakness driving gains, economic data could boost gains. Via DailyFX - Market News https://ift.tt/ym0RlbJ

*France Jan Business Confidence 103 Vs. 102 In Dec, Consensus 102

France Jan Business Confidence 103 Vs. 102 In Dec, Consensus 102

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2206180/

Gold Prices Power Ahead, Will XAU/USD Break $2,000 Soon?

The precious metal is testing a new multi-month high and with little in the way of resistance on the charts, gold may soon challenge $2,000/oz. Via DailyFX - Market News https://ift.tt/ym0RlbJ

UK PMIs Add to Disappointing Data Ahead of BoE Meeting, GBP Lower

UK services PMI data saw the fastest drop in business activity in the last 24 months while manufacturing beat estimates. The report compounds recent negative data prints Via DailyFX - Market News https://ift.tt/ym0RlbJ

Euro Breaking News: EURUSD Bid as PMI Data Continues Upward Trajectory

Euro Area PMI continues to improve adding further credence that the Eurozone may escape a recession. Via DailyFX - Market News https://ift.tt/ym0RlbJ

Japanese Yen Steadies on PMI Data and Markets Assess Risks. Where to for USD/JPY?

The Japanese Yen saw gains against the US Dollar after comforting PMI numbers in thin trade due to Lunar New Year. The USD/JPY trend is being questioned. Will it turn? Via DailyFX - Market News https://ift.tt/8q4mxrW

DAX, FTSE Prices Muted in Narrow Range of Technical Support and Resistance

European equities continue to trade in a narrow range of support and resistance as bulls and bears struggle to break technical support and resistance. Via DailyFX - Market News https://ift.tt/8q4mxrW

Gamma Squeeze Explained: Basic Options Theory and How it Works

Demystify the concept of the gamma squeeze by uncovering its foundations, causes and examples in this practical article. Via DailyFX - Market News https://ift.tt/8q4mxrW

British Pound (GBP/USD) Latest: Fresh Multi-Month High in Sight

Cable is pushing higher again in early European turnover, boosted by a weaker US dollar. Can the British Pound help push the pair even higher? Via DailyFX - Market News https://ift.tt/8q4mxrW

Quantitative Tightening: What is it and How Does it Work?

Quantitative tightening is a policy tool used by central banks to moderate an overheating economy. Find out how it is implemented and uncover its potential drawbacks Via DailyFX - Market News https://ift.tt/8q4mxrW

AUD/USD Forecast: Higher Australian Inflation Expectations Keep Aussie Bid

AUD/USD market participants exhibit hesitancy ahead of some key AUD and USD economic data. Via DailyFX - Market News https://ift.tt/8q4mxrW

US Dollar Slips as Markets Weigh Fed Perspectives in Thin Trade. Lower USD?

The US Dollar has given ground on Monday after the Federal Reserve hinted toward a less hawkish stance at their meeting next week. Where to for the DXY (USD) index? Via DailyFX - Market News https://ift.tt/kz4iCW9

Markets Week Ahead: Dow Jones, Nasdaq 100, Canadian Dollar, BoC, AUD/USD, NZD/USD

The Dow Jones fell as the Nasdaq 100 rose in a tech-fueled rally last week. Ahead, the Canadian Dollar is eyeing the BoC, with AUD/USD and NZD/USD facing inflation data. Via DailyFX - Market News https://ift.tt/kz4iCW9

Japanese Yen Technical Forecast: USD/JPY Bounces After Kuroda Comment

USD/JPY has made a loud turn from the bullish trend that dominated in the first nine months of last year. But for how long can USD/JPY pull back?

Euro Weekly Outlook: ECB vs Fed Continues Next Week, EUR/USD Seeks Breakout

EUR/USD has been on a one-way street but may be in for a change in fortunes with key U.S. data and ECB speakers programmed throughout the week. Via DailyFX - Market News https://ift.tt/kz4iCW9

Canadian Dollar Outlook: Markets Think Next Week’s BoC Rate Hike Will be the Last

The Canadian Dollar is eyeing next week’s Bank of Canada monetary policy announcement. A 25-basis point rate hike is priced in. Will it conclude the tightening cycle?

Dollar Searches for Break from Range with EURUSD and USDJPY Prime Candidates

The holidays are passed, but the restrictive trading conditions seem to have carried over into the second half of January. The Dollar has been trapped in a tight range through this week as market participants await a clear signal. Will we get it amid key event risk like the US 1Q GDP release next week?

S&P 500 and NASDAQ 100 INDEX Technical Outlook: Still Not Out of the Woods

US equity indices have lagged behind the performance of some of their peers in recent weeks and it appears that they are still not out of the woods. What is the outlook on the S&P 500 index and the Nasdaq 100 index and what are the levels to watch?

Australian Dollar Outlook: CPI Moves into View

The Australian Dollar made a six-month peak last week as the US Dollar continues to weaken with the Fed in focus. Local CPI data is due this week. Will it push AUD/USD higher?

Pound Fundamental Forecast: Constrained Consumers Send GBP Lower

The pound continues to grapple with many fundamental challenges. The main ones include stubbornly high prices, declining economic activity (spending).

What Leads Dollar and S&P 500 to Stop Flirting With Volatility and Break Congestion?

A week of potential that never come to fruition has come to a close. Risk assets led by the S&P 500 broke off from the immediate pressure of a full bullish reversal while the prevailing winds of a Dollar breakdown died down on the other side of key technical progress. With more serious event risk ahead, can volatility turn into trend? Via DailyFX - Market News https://ift.tt/lMQKPfy

Crude Oil Holds Gains On Hopes For China Demand Rebound

Crude Oil prices have shrugged off news of a large US stock build as the market remains China focused Via DailyFX - Market News https://ift.tt/lMQKPfy

Euro (EUR/USD) Latest – The Bullish Trend Remains in Place as the ECB Talks Tough

ECB President Christine Lagarde recently said that the financial markets are underpricing future interest rate hikes, but are the markets listening? Via DailyFX - Market News https://ift.tt/lMQKPfy

XAU/USD Forecast: Gold Elevated as Markets Continue to Dismiss Fed Guidance

Gold prices could be in for a pullback should markets underestimate the Fed after what has been a positive year thus far for XAU/USD. Via DailyFX - Market News https://ift.tt/lMQKPfy

GBP/USD Forecast: Dismal December Retail Sales Leads Cable Lower

Cable has enjoyed a decent run to the upside, fueled by dollar weakness. December strikes take a toll on retail sales data, leading GBP/USD lower in early London trading Via DailyFX - Market News https://ift.tt/DZN0qzY

Japanese Yen Dips as JGBs Retreat from Bank of Japan Cap. Where to for USD/JPY?

The Japanese Yen appears to be in a holding pattern after bond yields recoil from testing the Bank of Japan’s resolve as markets contemplate the Fed’s rate path. Will USD/JPY go lower? Via DailyFX - Market News https://ift.tt/DZN0qzY

Australian Dollar, Dow Jones at Risk as Fed Officials Stress Tight Policy Ahead

The Australian Dollar fell as hawkish Fedspeak from Lael Brainard and John Williams dented the Dow Jones. AUD/USD remains at risk over the remaining 24 hours. Via DailyFX - Market News https://ift.tt/DZN0qzY

Crude Oil Prices Spooked by US Data, IEA Report as WTI Turns to EIA Inventories

Crude oil prices sank the most in 2 weeks as softer US data and an IEA report on a global supply glut spooked traders. Ahead, will EIA inventories further pressure WTI? Via DailyFX - Market News https://ift.tt/GHsf94x

The US Dollar Bounces Back as Recession Fears Swirl. Where to for USD?

The US Dollar took back some ground today after staring at new lows in the wake of disappointing data before Federal Reserve speakers got active. Where to for the DXY (USD) Index? Via DailyFX - Market News https://ift.tt/GHsf94x

Australian Dollar Dipped After Slight Miss on Jobs Data. Where to for AUD/USD?

The Australian Dollar skipped a beat after domestic jobs data revealed the unemployment rate nudged up to 3.5% as the US Dollar continues to impact AUD/USD. Via DailyFX - Market News https://ift.tt/GHsf94x

Oil Futures Fail To Hold Early Gains, Settle Notably Lower

Despite staying positive during much of the day's trading session, crude oil futures settled lower on Wednesday amid concerns about a possible U.S. recession.

Concerns about interest rates weighed as well on oil prices after St. Louis Fed President James Bullard commented that the central bank needs to quickly hiked interest rates above 5%.

West Texas Intermediate Crude oil futures for February ended lower by $0.70 or about 0.9% at $79.48 a barrel.

Brent crude futures were down $1.13 or 1.33% at $84.79 a barrel a little while ago.

Oil prices surged higher earlier in the day after OPEC forecast that Chinese demand for oil is on track for a bounce.

OPEC said on Tuesday in its monthly report that Chinese oil demand would rebound this year due to the recent relaxation of the country's COVID-19 containment measures.

OPEC also sounded an optimistic note on the prospects for the world economy in 2023, saying a stronger Chinese economy would drive global growth.

The International Monetary Fund's First Deputy Managing Director Gita Gopinath said in a message from Davos that global growth will improve in the second half of this year and into 2024.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205997/

New Zealand Dollar Looks Past PM Jacinda Ardern’s Resignation, Eyes on Wobbly Markets

The sentiment-linked New Zealand Dollar looked past NZ Prime Minister Jacinda Ardern resigning. Rather, NZD/USD remains focused on wobbly markets after US data spooked traders. Via DailyFX - Market News https://ift.tt/GHsf94x

S&P 500 Reversal Packs More Global Punch Than USDJPY’s Drama

The fallout from the Bank of Japan’s ‘status quo’ monetary policy decision was top spot for macro traders, but the later reversal from the S&P 500 and other risk assets will carry more consequence. Have the bulls capitulated and why did the Dollar recover despite a further slip in rate expectations? Via DailyFX - Market News https://ift.tt/GHsf94x

Japanese Yen Crushed as Bank of Japan Disappoints, Policy Settings Left Unchanged

The Japanese Yen weakened after the Bank of Japan disappointed markets in January by leaving policy settings unchanged, including yield curve control. Where to for USD/JPY? Via DailyFX - Market News https://ift.tt/ubEAdXc

New Zealand Electronic Retail Card Sales Slip 2.5% In December

The total value of electronic card retail sales in New Zealand was down 2.5 percent on month in December, Statistics New Zealand said on Wednesday - after rising 0.3 percent in November.

Individually, spending for durables fell 5.7 percent, while fuel was down 4.3 percent, apparel fell 4.7 percent, motor vehicles sank 2.9 percent and consumables eased 1.5 percent.

The non-retail (excluding services) category decreased by NZ$25 million (1.3 percent) from November 2022. This category includes medical and other health care, travel and tour arrangement, postal and courier delivery, and other non-retail industries.

The services category was down NZ$7.1 million (2.0 percent). This category includes repair and maintenance, and personal care, funeral, and other personal services.

The total value of electronic card spending, including the two non-retail categories (services and other non-retail), decreased from November 2022, down NZ$104 million (1.2 percent).

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205913/

*New Zealand Electronic Card Retail Sales -2.5% On Month In December

New Zealand Electronic Card Retail Sales -2.5% On Month In December

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205912/

Dollar Turns In Mixed Performance Against Major Counterparts

The U.S. dollar turned in a mixed performance against its major counterparts on Tuesday, with traders assessing the recent data from across the globe and speculating about the Bank of Japan's policy stance.

The New York Federal Reserve released a report showing a significant contraction in regional manufacturing activity in the month of January.

The New York Fed said its general business conditions plunged to a negative 32.9 in January from a negative 11.2 in December, with a negative reading indicating a contraction. Economists had expected the index to climb to a negative 4.5.

The dollar index, which dropped to 101.94 around mid morning, recovered subsequently and was last seen at 102.40, up nearly 0.2% from the previous close.

Against the Euro, the dollar firmed to 1.0791 after having weakened to 1.0871 earlier in the day.

The dollar is down against Pound Sterling at 1.2286, dropping from 1.2196.

Against the Japanese currency, the dollar is down, fetching 128.17 yen a unit, compared with the previous close of 128.57 yen. It is widely speculated that the Bank of Japan might call for an exit from its decade-long ultra-loose monetary policy on Wednesday.

The dollar is weak against the Aussie with the AUD/USD pair at 0.6990.

Against Swiss franc, the dollar weakened to CHF 0.9218 from CHF 0.9262.

The dollar was down slightly against the loonie at C$1.3391, compared with previous close of C$1.3409.

Data from Statistics Canada showed Canada's annual inflation rate fell to 6.3% in December of 2022, the least since February 2022 and below market expectations of 6.4%, compared to the 6.8% in November and further declining from the 1983-high of 8.1% from June.

On a monthly basis, the Canadian CPI declined by 0.6%, the most since April 2020.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205910/

Oil Futures Settle At Over 2-week High

Crude oil futures settled higher on Tuesday on expectations of a jump in demand for fuel after data showed the Chinese economy saw better than expected growth last year.

West Texas Intermediate Crude oil futures for February ended higher by $0.32 or about 0.4% at $80.18 a barrel, the highest settlement since December 30, 2022.

Brent crude futures were up $2.34 or 2.76% at $86.80 a barrel a little while ago.

Official data showed that China's GDP grew an annual 2.9% in the fourth quarter, faster than the 1.8% increase economists had expected.

Nonetheless, this was weaker than the 3.9% expansion seen in the third quarter. In the whole year of 2022, GDP growth was 3%, missing government's target of around 5.5%.

Separate data showed that China's retail sales dropped only 1.8% annually in December, much better than economists' forecast of -8.6%.

Industrial production climbed 1.3% from last year, bigger than the 0.2% expected growth.

During January to December 2022, fixed asset investment advanced 5.1% from the last year, again better than the 5% expected expansion.

The Organization of the Petroleum Exporting Countries (OPEC) has left its forecast for global oil demand growth unchanged in its monthly report. The agency noted that the outlook "remains surrounded by uncertainties including global economic developments, shifts in COVID-19 containment policies, and geopolitical tensions."

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205909/

Treasuries Recover From Early Weakness But Still Close Lower

Treasuries recovered from initial weakness but moved back to the downside over the course of the trading session on Tuesday.

Bond prices moved roughly sideways going into the close, ending the day in negative territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 2.4 basis points to 3.535 percent.

The lower close by treasuries may have reflected lingering concerns about the outlook for interest rates ahead of the release of some key U.S. economic data in the coming days.

On the U.S economic front, the New York Federal Reserve released a report showing a significant contraction in regional manufacturing activity in the month of January.

The New York Fed said its general business conditions plunged to a negative 32.9 in January from a negative 11.2 in December, with a negative reading indicating a contraction. Economists had expected the index to climb to a negative 4.5.

Trading on Wednesday may be impacted by reaction to a slew of U.S. economic data, including reports on producer prices, retail sales and industrial production.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205908/

Dow Jones Dragged Down by Goldman Sachs, Nikkei 225 at Risk to Bank of Japan

The Dow Jones 100 underperformed the S&P 500 and Nasdaq 100 after disappointing Goldman Sachs earnings. Ahead, the Nikkei 225 is at risk to the Bank of Japan policy decision. Via DailyFX - Market News https://ift.tt/ubEAdXc

Australian Dollar Bumps Up on Strong China GDP Data. Where to for AUD/USD?

The Australian Dollar initially sailed north after China’s GDP aided the rising tide toward risk assets seen so far this year. Will AUD/USD make a new high? Via DailyFX - Market News https://ift.tt/5h2tZGI

Bitcoin Outlook: BTC/USD Bullish Breakout Drives Crypto Recovery

Bitcoin prices have continued to trade higher after a 26% rise in BTC/USD fueled a bullish breakout above $19,666, the December 2017 high now holds as support for the short-term move. Via DailyFX - Market News https://ift.tt/5h2tZGI

*Norway December Exports Up 28.1% Y/Y; Imports Rise 14.7%

Norway December Exports Up 28.1% Y/Y; Imports Rise 14.7%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205815/

EURUSD Hits New 9-Month High But Bulls May Be Out of Puff

There wasn’t much data for traders to digest on Monday, but suspicions that Eurozone borrowing costs will rise sharply keep the Euro supported Via DailyFX - Market News https://ift.tt/5h2tZGI

Gold Price (XAU/USD) Presses Ahead as US Inflation Expectations Fall

The US dollar remains in the doldrums after last Friday’s US data, offering gold the opportunity to re-test recent highs Via DailyFX - Market News https://ift.tt/5h2tZGI

How Central Banks Impact the Forex Market

Discover how policies and interest rate hikes of central banks impact forex and trading decisions. Via DailyFX - Market News https://ift.tt/5h2tZGI

Crude Oil Forecast: Brent Tests Key $85 Handle Ahead of Data Heavy Week

Brent crude begins the week on the back foot while markets look forward to key crude oil data. Via DailyFX - Market News https://ift.tt/5h2tZGI

Australian Dollar Buoyed by Sentiment as China Moves into Focus. Higher AUD/USD?

The Australian Dollar continued to climb at the start of the week with hopes of China’s re-opening lifting base metals and sinking the US Dollar. Where to for AUD/USD? Via DailyFX - Market News https://ift.tt/5h2tZGI

Japanese Yen Appreciation Intact After PPI Data Ahead of BoJ Meeting. Lower USD/JPY?

The Japanese Yen is holding onto last week’s gains after a red-hot PPI number presents a dilemma for the Bank of Japan and its monetary policy posture. Is USD/JPY heading south? Via DailyFX - Market News https://ift.tt/5h2tZGI

Markets Week Ahead: S&P 500, Nasdaq 100, US Dollar, Gold, Japanese Yen, BoJ

The S&P 500, Nasdaq 100 and gold gained as the US Dollar fell after CPI data last week. Ahead, the Japanese Yen will be eyeing the BoJ. AUD/USD turns to Chinese GDP data. What else? Via DailyFX - Market News https://ift.tt/uv6g2SC

Euro Fundamental Forecast – EUR/USD May Struggle in the Short-Term

The recent sell-off in the US dollar can be clearly seen in a born-again EUR/USD which continues to probe higher. Sterner tests for bulls lie ahead.

Dollar Pushes 7-Month Lows but Dive in Rate Forecast Cooling, VIX Connection Important

The broader measure of the US Dollar – the DXY Index – dropped its lowest level since early June this past week. The reversal seems productive with the 2022 run up providing plenty of premium to burn, but the fundamental backing to this move is less reliable than bears may appreciate.

S&P 500, Nasdaq, Dow Jones Technical Forecast for the Week Ahead

Stocks put in a strong bullish response after CPI data and the S&P 500 is threatening breakout from the 2022 bearish trendline that held the highs for most of last year.

Japanese Yen Weekly Forecast: Optimism Around BoJ Shift Lifts JPY

The Japanese Yen enters the week on a positive note ahead of the highly anticipated BoJ rate decision that could bring about a change to a longstanding policy outlook. Via DailyFX - Market News https://ift.tt/uv6g2SC

Australian Dollar Outlook: Punching Higher on Soft US Dollar

The Australian Dollar jumped higher on renewed optimism around China’s re-opening and the US Dollar taking a pounding the market discounts the Fed’s words. Will AUD/USD go higher?

Gold, Silver Price Forecast: Gold Breakout, Silver Resistance Test

Gold put in a massive move of strength this week, but Silver is struggling with the same spot of resistance that’s held the highs for a month now.

US Stocks Forecast: S&P 500 Pauses as Big Banks Stash Cash for a Bumpy 2023

Major US bank earnings prove largely resilient, but warnings of possible credit pressures send the S&P 500 lower on Friday as banks bolster cash reserves

Michigan Consumer Sentiment Beats Across the Board, US Dollar Unmoved

The US dollar is little changed after the release of the latest Uni of Michigan Consumer Sentiment report showed consumer sentiment picking up sharply. Via DailyFX - Market News https://ift.tt/UC9OPgR

GBP/USD Gains On US Inflation, Surprise Sign of UK Growth

The Pound got some rare support from its domestic economy, but US Inflation is doing the heavy lifting here Via DailyFX - Market News https://ift.tt/UC9OPgR

U.S Banks BAC, WFC and JPM Launch Earnings Season

Q4 earnings commenced with Bank of America (BAC), JP Morgan (JPM) and Wells Fargo (WFC) all showing similar trends across financial metrics. Via DailyFX - Market News https://ift.tt/UC9OPgR

Gold Outlook: XAU/USD Soars but Overbought Signals Flash Red

Gold has enjoyed a prolonged bullish run with little indication of a deep pullback until now. The yellow metal faces the next zone of resistance above 1900 Via DailyFX - Market News https://ift.tt/UC9OPgR

S&P 500, Nasdaq 100 Latest – Focus Now Turns to US Earnings Season

US equity markets have enjoyed a positive week on benign economic data. Ahead, the latest look at US corporate earnings may add a dose of volatility to a range of indices. Via DailyFX - Market News https://ift.tt/UC9OPgR

Euro Continues to Surge as the US Dollar Wilts Post US CPI. Higher EUR/USD?

The Euro rally has been maintained today after the US Dollar was pummelled on bets that the Federal Reserve may not need to be so hawkish. Will the trend continue for EUR/USD? Via DailyFX - Market News https://ift.tt/Ro9DnBy

Gold Prices Break Higher After US CPI Sank US Dollar, Where to for XAU/USD?

Gold prices roared higher after an in-line US CPI report sank the US Dollar and Treasury yields. XAU/USD broke higher, restoring momentum. Where to from here? Via DailyFX - Market News https://ift.tt/Ro9DnBy

*Australia Has A$13.201 Billion Trade Surplus In November

Australia Has A$13.201 Billion Trade Surplus In November

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205652/

New Zealand Building Permits Jump 7.0% In November

The total number of building permits in issued New Zealand was up a seasonally adjusted 7.0 percent on month in November, Statistics New Zealand said on Thursday - following the 11.0 percent decline in October.

In November, there were 4,649 new dwellings consented, including: 1,837 stand-alone houses; 1,827 townhouses, flats, and units; 535 apartments; and 450 retirement village units.

On a yearly basis, permits rose 3.2 percent to 50,209.

The annual value of non-residential building work consented was NZ$9.4 billion, up 13 percent from the year ended November 2021.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205647/

Can CPI Recharge VIX and Spark a True S&P 500 Trend?

We will soon trade anticipation for fundamentally-driven action. The CPI release is due before the US open, and traders are clearly well-aware of the indicator’s recent history of invoking volatility. Will this release resolve our lack of trend and persistent volatility crush or will the attention turn immediately to bank earnings? Via DailyFX - Market News https://ift.tt/ozZDupH

Gold Futures Settle Slightly Higher As Market Awaits U.S. Inflation Data

Gold futures failed to hold early gains and settled just marginally up on Wednesday, with traders looking ahead to the crucial U.S. inflation data, due on Thursday, for clues about the Federal Reserve's likely take on interest rates.

After Fed Chair Jerome Powell refrained from commenting on rate policy at a symposium, investors now await the release of U.S. inflation data on Thursday for additional clues on the rate outlook.

Fed Governor Michelle Bowman said on Tuesday that she expects more interest rate increases ahead to achieve a sufficiently restrictive federal funds rate and keep it at that level for some time.

The dollar index, which climbed to 103.48 in the European session, dropped to 103.17 around mid morning, before edging up to 103.30, up marginally from the previous close.

Gold futures for February ended higher by $2.40 at $1,878.90 an ounce, off the day's high of $1,890.90 an ounce, the highest level in eight months.

Silver futures for March ended down $0.184 at $23.481 an ounce, while Copper futures for March settled at $4.1660 per pound, gaining $0.0885.

The inflation data, due on Thursday, is expected to show a slowdown in the annual rate of consumer price growth and could have a significant impact on the outlook for interest rates.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205641/

*New Zealand ANZ Commodity Prices Fall 0.1% On Month Vs. -4.0% In November

New Zealand ANZ Commodity Prices Fall 0.1% On Month Vs. -4.0% In November

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205598/

Gold Eyes New Highs Ahead of US CPI as Fed Preps for Hikes. Where to for XAU/USD?

The gold price remains buoyant ahead of US CPI tomorrow as the market ponders the rate path of the Federal Reserve that has seen real yields slide. Where to for XAU/USD? Via DailyFX - Market News https://ift.tt/ye28cB5

Australia Retail Sales Data Due On Wednesday

Australia will on Wednesday release November numbers for retail sales, highlighting a modest day for Asia-Pacific economic activity. Retail sales are expected to rise 0.6 percent on month after slipping 0.2 percent in October.

Australia also will provide Q4 figures for consumer prices, with forecasts suggesting an annual increase of 7.0 percent - up from 6.9 percent in the three months prior.

Japan will see November results for its leading indexes; in October, it was at 98.6.

South Korea will release December data for unemployment; in November, the jobless rate was 2.9 percent.

Malaysia will provide November numbers for industrial production with forecasts suggesting an increase of 3.0 percent, slowing from 4.6 percent in October.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205596/

Australian Dollar Bumps Up on Data Amid Global Macro Tailwinds. Higher AUD/USD?

The Australian Dollar initially sailed north after CPI and retail sales data aided the rising tide toward risk assets seen so far this week. Where to for AUD/USD? Via DailyFX - Market News https://ift.tt/ye28cB5

Dollar, S&P 500 and VIX Caught in the Anticipation of Thursday’s CPI?

The forces of anticipation are once again overpowering the influence of aimless thematic pressures. It isn’t that interest rate speculation and recession discounting aren’t important to the market. Rather there isn’t clarity on either but heavy anticipation for Thursday’s CPI and Friday’s earnings. Via DailyFX - Market News https://ift.tt/ye28cB5

Oil Futures Settle Higher

Oil futures settled higher on Tuesday, gaining for a fourth straight session, amid expectations energy demand will pick up after China decided to reopen its economy.

U.S. government's forecast that global petroleum consumption will hit a record next year, helped as well.

West Texas Intermediate Crude oil futures for February ended higher by $0.49 or about 0.7% at $75.12 a barrel.

Brent crude futures are up $0.52 or 0.66% at $80.21 a barrel.

The U.S. Energy Information Administration (EIA) says in its Short-Term Energy Outlook that it expects global consumption of liquid fuels will reach 102.2 million barrels per day next year.

Investors also looked aead to weekly oil inventory data from the American Petroleum Institute (API) and Energy Information Administraion (EIA).

The API's report is due later today, while the EIA is scheduled to release its inventory data Wednesday morning.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205595/

US Dollar Support Breakout Remains Lackluster After Powell Speech, Focus on CPI

The US Dollar’s support breakout remains lackluster after Fed Chair Jerome Powell’s speech offered little information on monetary policy, leaving markets focused on CPI data later this week. Via DailyFX - Market News https://ift.tt/ye28cB5

*Tokyo Overall Consumer Prices +4.0% On Year In December; Core CPI +4.0%

Tokyo Overall Consumer Prices +4.0% On Year In December; Core CPI +4.0%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205512/

*South Korea Has $0.62 Billion Current Account Deficit In November

South Korea Has $0.62 Billion Current Account Deficit In November

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205508/

US Dollar Slides to New Lows after Fed Cites CPI as Key to Hikes. Where to for USD?

The US Dollar is weaker today after Fed speakers opined a less hawkish stance that will depend on this week’s CPI and China looks toward stimulus measures. Where to for DXY (USD) Index? Via DailyFX - Market News https://ift.tt/hzbFps4

*Ireland Dec Construction PMI 43.2 Vs. 46.8 In November

Ireland Dec Construction PMI 43.2 Vs. 46.8 In November

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205433/

Australian Dollar Leaps Despite Weak Data as the US Dollar Slides. Higher AUD/USD?

The Australian Dollar motored higher with the US Dollar giving up ground on the back of conjecture that the Federal Reserve might have wriggle room on looming hikes. Where to for EUR/USD? Via DailyFX - Market News https://ift.tt/hzbFps4

Australia Building Approvals Slump 9.0% In November

The total number of building permits issued in Australia in November was down a seasonally adjusted 9.0 percent on month in November, the Australian Bureau of Statistics said on Monday - coming in at 13,898.

That missed expectations for a decline of 4.0 percent following the 6.0 percent contraction in October.

On a yearly basis, permits tumbled 15/1 percent after sinking 6.4 percent in the previous month.

Permits for private sector houses fell 2.5 percent on month and 13.4 percent on year to 9,142, while permits for private sector dwellings excluding houses tumbled 22.7 percent on month and 21.0 percent on year to 4,423.

The total value of building approved fell 1.5 percent on month in November, following a 0.4 percent fall in October.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205432/

*Australia Building Approvals -9.0% On Month, -15.1% On Year In November

Australia Building Approvals -9.0% On Month, -15.1% On Year In November

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205431/

Australia Building Approval Data Due On Monday

Australia will on Monday release November numbers for building approvals, highlighting a light day for Asia-Pacific economic activity. In October, approvals were down 6.0 percent on month and 6.4 percent on year.

Also, the markets in Japan are closed on Monday for Coming of Age Day and will re-open on Tuesday.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205430/

Crude Oil Price Steadies the Ship Despite the Fed Staying on Course. Where to for WTI?

Crude oil has made some ground today after a wild ride last week that saw large declines with the Federal Reserve set to make the hard decisions to slow the economy. Will WTI rebound? Via DailyFX - Market News https://ift.tt/hzbFps4

Markets Week Ahead: Dow Jones, S&P 500, US Dollar, Gold, British Pound, US CPI

The Dow Jones and S&P 500 gained as softer US economic data cooled the US Dollar, pushing gold prices higher. Ahead, all eyes turn to US CPI and UK GDP figures. Via DailyFX - Market News https://ift.tt/wuYFpyV

Gold Fundamental Price Outlook: XAU/USD Primed for the Next Leg Higher

The precious metal continues to be in the thrall of US rate expectations and with yields starting to reverse lower from their recent elevated levels, gold may soon attempt to make a fresh multi-month high. Via DailyFX - Market News https://ift.tt/wuYFpyV

Euro 6-Week Winning Streak Ends, Will Softer US CPI Rekindle EUR/USD?

The Euro’s 6-week winning streak came to an end. But, disappointing US hourly earnings and ISM services data sets a sour tone for key CPI data next. EUR/USD may rise.

USD Weekly Outlook: Dollar Index (DXY) Eyes U.S. CPI

The U.S. dollar starts the week under pressure but may find some respite from U.S. CPI should actual figures exceed forecasts. Via DailyFX - Market News https://ift.tt/wuYFpyV

GBP Fundamental Forecast: Festive Cheer Ends and UK PM Seeks End to Strikes

Sterling remains vulnerable as companies issue trading warning for 2023. Trade unions continue with strikes and government plans to cut energy relief for corporates

Australian Dollar Outlook: Volatility Kicks in for 2023

The Australian Dollar had a bumpy ride into the new year with Chinese policy adjustments and US Dollar fluctuations running amok. Will AUD/USD find its own path? Via DailyFX - Market News https://ift.tt/Mu42HvS

Oil Futures Fail To Retain Early Gains, Settle Flat

Crude oil prices pared early gains and settled flat on Friday as fears of a global recession raised concerns about the outlook for energy demand.

Data showing a contraction in U.S. service sector activity in the month of December, concerns about rising Covid cases in China, and insistence on Covid tests by several countries for visitors from China weighed on oil prices.

Oil futures shed ground despite the dollar turning weak amid easing concerns about Fed policy tightening after data showed a drop in U.S. wage growth in the month of November.

Oil prices surged higher earlier in the session on optimism surrounding China's reopening and expectations of further stimulus measures.

West Texas Intermediate Crude oil futures for February settled at $73.77 a barrel, up just 10 cents from the previous close. The contract rose to a high of $75.47 a barrel in late morning trades before paring gains.

Brent crude futures dropped $0.18 to $78.51 a barrel.

Both WTI Crude futures and Brent Crude futures shed more than 8% in the week.

Data from the Labor Department showed that non-farm payroll employment jumped by 223,000 jobs in December after surging by a revised 256,000 jobs in November.

Economists had expected employment to shoot up by 200,000 jobs compared to the addition of 263,000 jobs originally reported for the previous month.

The unemployment rate edged down to 3.5% in December from a revised 3.6 percent in November. The unemployment rate was expected to come in unchanged compared to the 3.7% originally reported for the previous month.

Annual wage growth slowed to 4.6% in December from 4.8% in November. Easing wage growth reduced worries over the Fed's rate-hike trajectory.

Data from the Institute for Supply Management showed that U.S. service sector activity unexpectedly contracted in the month of December.

The ISM said its services PMI tumbled to 49.6 in December from 56.5 in November, with a reading below 50 indicating a contraction. Economists had expected the index to edge down to 55.0.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205428/

AUD/USD Forecast: Choppy Trading Seeks Catalyst, NFP and ISM?

AUD/USD remains between the 0.67 and 0.68 levels but could soon breakout depending on the upcoming NFP and ISM data prints. Via DailyFX - Market News https://ift.tt/Mu42HvS

*Japan Dec Services PMI Rises To 51.5 From 50.3 In Nov, Consensus 51.7

Japan Dec Services PMI Rises To 51.5 From 50.3 In Nov, Consensus 51.7

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205347/

Gold Price Steady After US Dollar Pummelling. Will XAU/USD Rally Again?

The gold price fell victim to US Dollar strength post solid jobs numbers as the market appears to be taking on board the Fed’s agenda for rates. Where to for XAU/USD? Via DailyFX - Market News https://ift.tt/mScvJGa

Dollar Rises As Strong Private Sector Jobs Data Raises Rate Hike Prospect

The U.S. dollar climbed higher against its major rivals on Thursday after data showing a bigger than expected increase in the nation's private sector employment supported expectations for further interest rate hikes from the Federal Reserve in the upcoming months.

Data released by the payroll processor ADP this morning showed that private sector employment jumped by 235,000 jobs in December after surging by an upwardly revised 182,000 jobs in November.

Economists had expected employment to jump by about 150,000 jobs compared to the addition of 127,000 jobs originally reported for the previous month.

The dollar's uptick was also due to the minutes from the Fed's December meeting. The minutes showed that the policymakers cautioned against loosening policy too soon, and supported keeping interest rates higher for some more months.

Data released by the Labor Department this morning showed initial jobless claims slipped to 204,000 last week, a decrease of 19,000 from the previous week's revised level of 223,000. Economists had expected jobless claims to come in unchanged compared to the 225,000 originally reported for the previous week.

A separate report released by the Commerce Department showed the U.S. trade deficit narrowed significantly more than expected in the month of November.

The dollar index, which surged to 105.27, was last seen at 105.12, up 0.84% from the previous close.

Against the Euro, the dollar settled at 1.0523 from around 1.0600.

The dollar firmed to 1.1911 against Pound Sterling from above 1.2050, while settling at 133.40 yen, strengthening from around 132.50 yen.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205346/

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Gold Futures Settle Lower As Dollar Rises On Jobs Data, Rate Hike Bets

Gold futures snapped a four-session winning streak and ended lower on Thursday as the dollar climbed higher against other major currencies.

The dollar firmed, riding on hawkish Fed minutes that suggested the central bank will hold rates at higher levels, and data showing a bigger than expected jump in U.S. private sector employment in the month of December.

The dollar index surged to 105.27 in late morning trades, and despite easing to 104.99, was firmly placed in positive territory with a gain of over 0.7%.

Gold futures for February ended down $18.40 or about 1% at $1,840.60 an ounce, after having settled at a near 7-month high at $1,859.00 an ounce on Wednesday.

Silver futures for March ended lower by $0.540 at $23.424 an ounce, while Copper futures for March settled at $3.8210 per pound, down $0.0805 from the previous close.

Payroll processor ADP's report today showed private sector employment in the U.S. jumped by much more than expected in the month of December, rising by 235,000 jobs in December after surging by an upwardly revised 182,000 jobs in November.

Economists had expected employment to jump by about 150,000 jobs compared to the addition of 127,000 jobs originally reported for the previous month.

While the stronger than expected job growth points to continued strength in the labor market, the data has added to concerns about the outlook for interest rates.

Edward Moya, Senior Market Analyst at The Americas OANDA, says the ADP private payrolls report and weekly jobless claims reminded traders that the labor market is nowhere near cooling.

Moya says that the economy is clearly weakening, but the labor market stays steady. "It should start to weaken and jobless claims will climb much higher starting next week," he says.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205343/

China Services PMI Data Due On Thursday

China will on Thursday see December results for the services PMI from Caixin, highlighting a modest day for Asia-Pacific economic activity. In November, the PMI score was 46.7.

Singapore will provide November numbers for retail sales; in October, sales were up 0.1 percent on month and 10.4 percent on year.

Thailand will release December data for consumer prices, with forecasts suggesting an increase of 6.00 percent for overall inflation - up from 5.55 percent in November. Core CPI is pegged at an annual 3.26 percent, up marginally from 3.22 percent in the previous month.

Japan will see December figures for household confidence and monetary base. In November, the consumer confidence index score was 28.6, while the monetary base dropped 6.4 percent on year.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2205255/

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