Nachrichten

Dollar Falls on Soft Data, Inflation Figures Eyed

Meldungsarchiv

2011 2012 2013 2014 2015 2016 2017 2018 2019

USD

The dollar index which measures the greenback against a basket of major currencies dropped to a one-week low of 97.24 on soft economic data. The April Core Producer Price Index rose by only 0.1% missing estimates of 0.2%. The Federal Reserve declared in the latest monetary policy meeting that inflation cooled down. However, Fed officials believe that the current drop is transient. Market participants await the release of the April Consumer Price Index later today to grasp further hints on inflation. A strong reading could spark the demand for the dollar as it would raise the chances for further monetary policy tightening in the future. On the other hand, officially the United States raised tariffs on $200 billion worth of Chinese goods to 25% from 10% prior and investors are waiting for China's response. China and the United States will continue trade negotiations later today trying to reach a deal to avoid a full-blown trade war. The US 10-year yields rose to 2.469%, the USDJPY traded at a low of 109.62, and the EURUSD rose to a high of $1.1234.

Metals

Gold prices rose slightly towards a high of $1288 as the dollar weakened and investors were seen looking for safety. On the other hand, the silver ounce tumbled to a low of $14.67, while palladium bounced off a four-month low of $1268 to trade higher near $1328.

Oil

Oil prices remain stuck in a tight trading range awaiting fresh fundamental developments. Market participants are focusing on the trade talks between China and the United States as a trade deal between the world's largest economies could spark the risk sentiment and boost oil prices. The West Texas Intermediate crude futures hovered above $62 per barrel, while Brent futures traded slightly below $71 per barrel.

Major Economic Events

GMT Country Event Expectation Previous

8:30

UK

GDP (YoY) (Q1) 

1.8%

1.4%

8:30

UK

Industrial Production (MoM) (Mar)

0.1%

0.6%

8:30

UK

Manufacturing Production (MoM) (Mar)

0.2%

0.9%

12:30

US

Core CPI (MoM) (Apr)

0.2%

0.1%

12:30

CA

Employment Change (Apr)

10.0

-7.2

12:30

CA

Unemployment Rate (Apr)

5.8%

5.8%

17:00

US

U.S. Baker Hughes Oil Rig Count

 

807

 

Disclaimer

The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM.COM. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

CFDs und Spot FX sind komplexe Instrumente und bergen aufgrund der Hebelwirkung ein hohes Risiko, schnell Geld zu verlieren. Beim Handel mit CFDs verlieren 72.87% der Konten von Privatanlegern mit diesem Anbieter Geld. Überlegen Sie, ob Sie verstehen, wie CFDs und Spot FX funktionieren, und ob Sie es sich leisten können, das hohe Risiko einzugehen, Ihr Geld zu verlieren. Weiterlesen
Weiterlesen
Mail Anrufen Chat