On Thursday, 12 January 2023, at 10am US Eastern Time, President Biden will make a media appearance. The CPI data is scheduled to be released at 8.30am US ET. In the US, it will be 13.30 GMT. Here are the statistics: US inflation data is due on Thursday. JP Morgan.
Goldman Sachs has revised down its forecast for a Eurozone recession this year, from a 0.1% contraction in GDP.GS had anticipated a modest fall in Eurozone output of 0.1% this year. However, the bank now expects Eurozone economic growth to slow down throughout the winter months as a consequence of.
Rates will still need to rise significantly, says Rehn ECB’s Rehn: Rates will still have to rise significantly, says De Cos at the ECB US EIA weekly oil inventories for the week ending Jan 6 +18,962K vs -2243K expected Treasury Auctions of $32 billion a ten-year bond with a high.
The upcoming Thursday CPI report is the pivotal event of the week, the last one before the Federal Open Market Committee convenes on the first of February. Predictions suggest that the data will show a decrease of 6.5% year-on-year from the prior 7.1%, still retreating from the peak of 9%.
Bank of America Global Research has conducted a time-zone analysis to review the performance of FX in 2022. This study divided a 24-hour day into 3 distinct time zones: Asian hours from midnight GMT to 8am GMT, European hours from 8am GMT to 1pm GMT, and US hours from 1pm.
In the past 6 trading days since the EURJPY hit a low of 137.377 on January 3rd, it has increased five times. This equates to a rise of 544 pips. The cost soared to 142.85, nearly matching the 100-day moving average of 143.026. Furthermore, this price peak also came close.
The euro is having itself a nice day, rising 30 pips to 1.0765 and near a session high. The markets are pricing a 76% chance of a 50 bps hike from the ECB on Feb 2. That’s dipped from earlier this week.
There is not much going on on the FX market today besides the yen and Swiss franc being weaker. Tomorrow’s U.S. CPI report and after that, there is not much to do. Tomorrow’s economic data consist of the EIA’s weekly oil inventory data, which is the only other item on.
Today, bond markets are being bought Headers: Villeroy of the ECB has declared that rates will be pushed higher in the future Bond markets are being bought today Domestic flights are being grounded by a malfunctioning IT bond markets are being bought today Domestic flights are being grounded by a.
China’s yuan not far from a 4 month high – policy support, COVID recovery, seasonal demand China to pause costly chip investments as Covid strains budget PBOC Guangzhou branch reportedly guides banks to provide offshore financing to developers ICYMI – China’s Finance Minister reiterated plans to appropriately expand fiscal spending.
Prelim 46.2 Prior 47.7 Lowest since May 2020 Firms hiked their selling prices at the softest pace for just over two years Lower prices for some inputs such as metals and fuel led to the slowest uptick in cost burdens since July 2020 The decrease in new orders was steep.
The first trading day of the year highlights a few opportunities in the market this year. I’m skeptical that price action this early is telling but some news items are notable and fit into themes I highlighted in the video below. 1) China reopening The China PMI today was awful.