Breaking News: The U.S. dollar dips against the Canadian Loonie! Tension mounts as traders eye the upcoming U.S. PPI release. Will the USD/CAD pairing leverage its January surge as the trading week zooms to a close? Stay tuned!
Market Movers & Shakers: The Latest Buzz!
1. U.S. CPI Drama: The December numbers are in! Annual CPI hit 3.4% (surpassing the 3.1% prediction) while Core CPI matched forecasts at 3.9%. The month-over-month rate leaped to a robust 0.3%, defying expectations.
2. Job Market Jolts: U.S. Initial Jobless Claims clock in at 202K, a slight dip from the 209K forecast.
3. ECB’s Insight: ECB President Lagarde drops a hint on France 2 TV: Interest rates might hit a plateau, barring unforeseen market tremors.
4. Japan’s Financial Pulse: December shows a boost in bank loans, outstripping estimates with a 3.1% growth. The current account surplus, however, falls short of forecasts.
Oil and Economy – A Global Tug of War:
– Oil’s Upward Spiral: Crude oil jumps 2.5% amidst U.S.-led strikes against Yemen’s Houthi rebels.
– U.K.’s Economic Pulse: A steady climb with a 0.3% growth in November, driven by a robust services sector.
– France’s Consumer Spending: Surprises with a 0.7% rise against a forecasted decline.
Currency Clash and Commodities:
– CAD’s Winning Streak: Soaring on oil’s wings, the Canadian dollar flexes against the CHF, EUR, and GBP, while showing modest gains against the NZD, JPY, and AUD.
– Risk Assets vs. Safe Havens: Speculation over future Fed rate cuts keeps riskier assets buoyant.
Mark Your Calendars! – Next Big Thing:
U.S. core PPI reports dropping at 1:30 pm GMT. Will it shake or steady the markets? Stay locked in for the latest twists and turns in the Forex saga!
Source : babypips.com | fxstreet.com
