Strong US retail sales likely to extend Fed rate hikes
EUR/USD 🔼
GBP/USD 🔼
AUD/USD 🔽
USD/CAD 🔼
USD/JPY 🔼
XAU 🔼
WTI 🔽
As Tuesday’s producer inflation rate slowed, yesterday saw US retail sales increasing by 1.3%, against a 1.0% projection. Signs of resilience in the US economy led investors to believe the Federal Reserve would remain steadfast on aggressive rate hikes. The stock market then traded lower in general, Dow Jones fell 39 points to 33,553, S&P 500 dropped 32 points to 3,958 and Nasdaq 100 fell 172 points (-1.45%) to 11,699.
NATO’s report has claimed the missile explosion was likely an accident caused by Ukrainian air defenses, thus easing fears of possible direct intervention from NATO. EUR/USD rose to 1.0392, market estimates had tonight’s Eurozone inflation reading at 10.7% on the year - the same as last month. Meanwhile, UK inflation has reached a four-decade high of 11.1%, exceeding Mitrade's expectations of 10.7%.
AUD/USD suffered minor losses to 0.674, despite the labor market adding 32,200 jobs, far greater than what investors has anticipated. USD/CAD closed at 1.3327, and just rose to a week-high at 1.3350. USD/JPY retreated from a high of 140.22 to 139.55.
Spot gold slid to $1,773.88, currently at $1,769.87 an ounce. Although the latest US crude oil stockpiles have dropped by 5.4 million barrels, WTI oil futures traded lower at $85.25 a barrel.
GBP/USD 🔼
AUD/USD 🔽
USD/CAD 🔼
USD/JPY 🔼
XAU 🔼
WTI 🔽
As Tuesday’s producer inflation rate slowed, yesterday saw US retail sales increasing by 1.3%, against a 1.0% projection. Signs of resilience in the US economy led investors to believe the Federal Reserve would remain steadfast on aggressive rate hikes. The stock market then traded lower in general, Dow Jones fell 39 points to 33,553, S&P 500 dropped 32 points to 3,958 and Nasdaq 100 fell 172 points (-1.45%) to 11,699.
NATO’s report has claimed the missile explosion was likely an accident caused by Ukrainian air defenses, thus easing fears of possible direct intervention from NATO. EUR/USD rose to 1.0392, market estimates had tonight’s Eurozone inflation reading at 10.7% on the year - the same as last month. Meanwhile, UK inflation has reached a four-decade high of 11.1%, exceeding Mitrade's expectations of 10.7%.
AUD/USD suffered minor losses to 0.674, despite the labor market adding 32,200 jobs, far greater than what investors has anticipated. USD/CAD closed at 1.3327, and just rose to a week-high at 1.3350. USD/JPY retreated from a high of 140.22 to 139.55.
Spot gold slid to $1,773.88, currently at $1,769.87 an ounce. Although the latest US crude oil stockpiles have dropped by 5.4 million barrels, WTI oil futures traded lower at $85.25 a barrel.