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United States Chicago PMI registered at 54 above expectations (44) in January
United States Chicago PMI registered at 54 above expectations (44) in January
AUD/USD corrects from three-year high amid US Dollar recovery
AUD/USD trades around 0.7000 on Friday at the time of writing, down 0.60% on the day, after retreating from a three-year high reached earlier this week. The pair thus snaps a three-day winning streak, amid a technical correction and a modest recovery in support for the US Dollar (USD).
Oil: Bearish fundamentals signal pull-back – TD Securities
TD Securities' Ryan McKay highlights a shift in oil market fundamentals, suggesting a potential pull-back in prices. The report indicates that a loosening of near-term fundamentals could reduce crude oil prices by at least $2-3/bbl, while geopolitical risks may also impact market dynamics.
USD: Range-bound outlook amid Fed dynamics – BBH
Brown Brothers Harriman (BBH) reports that the Dollar has recovered within its multi-month range. Analysts expect the Dollar to hold within this range due to the Fed's cautious approach to monetary policy.
GBP/JPY steady near weekly highs as Yen weakens on softer Tokyo inflation
The British Pound (GBP) trades firmer against the Japanese Yen (JPY) on Friday, as softer-than-expected Tokyo Consumer Price Index (CPI) data weigh on the Yen and revive doubts over the pace of policy normalisation by the Bank of Japan (BoJ). At the time of writing, GBP/JPY is trading around 212.16
Southwest Airlines pushes on earnings, key resistance levels here
Southwest Airlines Company (LUV) saw a powerful move higher yesterday, with the stock surging more than 18% following its earnings report. Moves of this magnitude tend to immediately put a stock on my radar, especially when they occur in direct response to earnings.
Aon (AON) surpasses Q4 earnings estimates
Aon (AON) came out with quarterly earnings of $4.85 per share, beating the Zacks Consensus Estimate of $4.76 per share. This compares to earnings of $4.42 per share a year ago. These figures are adjusted for non-recurring items.
EU-India Trade Deal: Pragmatism Trumps Caution – Societe Generale
Societe Generale's Kunal Kundu discusses the recently concluded EU-India Free Trade Agreement (FTA), highlighting its potential to create a free-trade zone covering nearly 2 billion people and a fourth of global GDP.
Pound Sterling Price News and Forecast: GBP/USD weakens as US Dollar firms on Senate breakthrough
GBP/USD trades around 1.3760 on Friday at the time of writing, retreating 0.30% on the day as the US Dollar (USD) regains some traction.
US headline Producer Prices rose by 3% in December
US Producer Prices rose 3% in December from a year earlier, according to the latest figures from the Bureau of Labor Statistics (BLS). The print came in above estimates (2.7%) and matched the 3% gain recorded in the previous month.
United States Producer Price Index ex Food & Energy (MoM) above expectations (0.2%) in December: Actual (0.7%)
United States Producer Price Index ex Food & Energy (MoM) above expectations (0.2%) in December: Actual (0.7%)
United States Producer Price Index ex Food & Energy (YoY) above forecasts (2.9%) in December: Actual (3.3%)
United States Producer Price Index ex Food & Energy (YoY) above forecasts (2.9%) in December: Actual (3.3%)
United States Producer Price Index (MoM) above expectations (0.2%) in December: Actual (0.5%)
United States Producer Price Index (MoM) above expectations (0.2%) in December: Actual (0.5%)
United States Producer Price Index (YoY) above expectations (2.7%) in December: Actual (3%)
United States Producer Price Index (YoY) above expectations (2.7%) in December: Actual (3%)
Canada Gross Domestic Product (MoM) below expectations (0.1%) in November: Actual (0%)
Canada Gross Domestic Product (MoM) below expectations (0.1%) in November: Actual (0%)
USD: Potential for prolonged weakness – Nordea
Nordea's Macro & Markets report by Sara Midtgaard discusses the ongoing weakness of the US Dollar, driven by geopolitical factors and historical patterns. The report suggests that the current downturn could be long-lasting, with potential for a multi-year period of dollar weakness.
Germany Import Price Index (YoY) above expectations (-2.6%) in December: Actual (-2.3%)
Germany Import Price Index (YoY) above expectations (-2.6%) in December: Actual (-2.3%)
Germany Import Price Index (MoM) above forecasts (-0.4%) in December: Actual (-0.1%)
Germany Import Price Index (MoM) above forecasts (-0.4%) in December: Actual (-0.1%)
AUD/USD Price Forecast: Tests 0.7000 support as 14-day RSI suggests overbought conditions
AUD/USD depreciates after three days of gains, trading around 0.7000 during the early European hours on Friday. Daily chart analysis indicates that the pair is remaining within the ascending channel pattern, indicating a persistent bullish bias.
Stocks: Mixed performance amid tech weakness – HSBC
US stocks mostly fell on Thursday, driven by losses in tech shares as investor concerns over AI capital expenditures resurfaced. European and Asian stock markets traded mixed, notes HSBC.
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