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Dollar gives back some earlier gains leading into US data releases- EUR/USD lifts from below 1.0500
Shortly, at 1.30pm GMT we a get a couple of quite important US data releases. There is the usual weekly and continuing jobless claims numbers and also the October PPI (Producer Price Index). This one is important, as it can be a forerunner of later CPI reports to come. So, today the markets are expecting an increase in producer price pressures last month. The rate is expected to increase by 0.2% from no rise at all in September. The annualised rate is also expected to rise and quite markedly too, by 2.3%, from a prior reading of just 1.8%. The core rate is forecast to rise by 3%, compared to 2.8%. Ahead of this the dollar has certainly come off the boil. Earlier the EUR/USD fell to a new 2024 low underneath 1.0500. The low point was set at 1.0497. It has since rebounded to as high as 1.0545. It is currently trading at 1.0537
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Nasdaq 100 extends opening gains closer to the first technical correction level (corrected)
Much earlier today an update here noted the first technical correction level on the Nasdaq 100. To repeat here; it is at 20,325 and represents a 38.2%... -
Nasdaq 100 extends opening gains closer to the first technical correction level
Much earlier today an update here noted the first technical correction level on the Nasdaq 100. To repeat here that, it is at 20,325 and represents a... -
US consumer confidence and Richmond Fed both miss estimates- EUR/USD edges higher
The earlier noted US economic releases (consumer confidence, new home sales and the Richmond Fed index) have just hit the screens. As noted earlier...
