Monthly Archives: May 2024
41654156156Soft CPI Hammers Dollar to Monthly Low
Written on May 16, 2024 at 5:57 am, by jonywang
Market Summary Yesterday’s U.S. inflation gauge, CPI, rattled financial markets as the dollar index (DXY) plunged nearly 1% and equity markets jumped following a reading below market consensus. The April CPI came in at 0.3%, lower than the previous month, alongside flat Retail Sales data at 0%. This downbeat economic data has fueled hopes forContinue Reading
USD/CAD Declines As US Inflation Moderates.
Written on May 16, 2024 at 2:02 am, by jonywang
Fundamental Analysis * Inflation Chill: The Canadian dollar has strengthened against the US dollar due to a cooler-than-expected US Consumer Price Index report, which has caused the greenback to weaken. This decrease in inflationary pressure has revived hopes in the market for potential rate cuts by the Federal Reserve in September. In April, US CPIContinue Reading
Gold Surge on Soften Dollar
Written on May 15, 2024 at 5:34 am, by jonywang
Market Summary The Fed’s preferred inflation gauge, the Producer Price Index (PPI), was released yesterday, showing April PPI slightly above market consensus at 0.5%. Following the inflation data, Fed Chairman Jerome Powell reiterated that the U.S. central bank is likely to keep interest rates higher for longer to address persistently sticky inflation. Despite this, marketContinue Reading
