European tech stocks like Infineon Technologies and SAP experienced losses, while auto stocks had a mixed session with companies like Daimler Truck Holding and Volkswagen declining, and others like Mercedes Benz Group and Porsche advancing. The upcoming speech by ECB Chief Economist Philip Lane could provide insights into inflation, economic outlook, and ECB interest rate
Forecasts
Following the recent US Job Report, there are expectations of a pickup in hiring which could potentially support wage growth. This increase in wages may lead to higher trends in disposable income, ultimately fueling consumer spending and demand-driven inflation. The net effect of this could result in a higher-for-longer Fed rate path to raise borrowing
It is often considered unusual for gold prices to be strong alongside equities. Typically, when stock prices rise, it indicates a risk-on environment, while gold demand tends to increase during times when investors seek a safe haven. However, as of late May, front-month Gold futures prices were up 17% year-to-date, while the S&P 500 had
The recent US Jobs Report has had a significant impact on the USD/JPY exchange rate, pushing it closer to the 157 level. With the US CPI Report on the horizon, investors are closely watching for potential shifts in the value of the Japanese Yen. The increase in average hourly earnings by 4.1% year-on-year in May
The Bank of Japan interest rate decision is a critical factor influencing buyer demand for the Japanese Yen. The focus is on the monetary policy statement and press conference, with considerations for forward guidance on inflation, the economic outlook, and the timing of an interest rate hike. It is expected that the Bank of Japan
Recently, Bank of Japan Deputy Governor Ryozo Himino expressed worries regarding the Yen and its impact on economic activity. He stated that exchange-rate fluctuations can affect various aspects of the economy, including inflation. This raises concerns about the stability of the USD/JPY pair in the current market environment. In addition to the concerns raised by
An unexpected increase in initial jobless claims has the potential to influence investor sentiments regarding a September Fed rate cut. This spike could signal weaker labor market conditions, impacting wage growth, disposable income, and consumer confidence. As a result, consumers may reduce spending, leading to a decrease in demand-driven inflationary pressures. A downturn in consumer
Recent economic data and forecasts have the potential to greatly influence the direction of the AUD/USD currency pair. In particular, upcoming releases such as the ISM Services PMI, Australian GDP numbers, US Services PMI, and the US Jobs Report are likely to play a significant role in shaping market sentiment and investor decisions. The services
As we delve into the current market trends concerning the AUD/USD exchange rate, it is essential to take into account various influential factors. While finalized S&P Global Manufacturing PMI numbers for May are significant, the spotlight remains on the more impactful ISM Manufacturing PMI survey-based data. Moreover, the absence of any FOMC member speeches, as
The current estimate projects the unemployment rate to remain at 3.9%, with a possible high estimate of 4.0% and a low of 3.8%. This stability in the unemployment rate is a positive sign for the economy, indicating that job market conditions are relatively strong. However, it is crucial to monitor any fluctuations as they could
The AUD/USD pair is heavily influenced by economic data releases from both Australia and the United States. These data points can significantly impact buyer demand for the Aussie dollar and dictate the overall direction of the currency pair. In this article, we will analyze the potential effects of key economic indicators on the AUD/USD pair
Economists are predicting a 2.8% increase year-on-year in the Core PCE Price Index for April, with personal income and spending expected to rise by 0.3%. While personal income saw a 0.5% increase in March and spending was up by 0.8%, a higher Fed rate path could lead to a rise in borrowing costs and a
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