<\/p>\n
What happened across the Asia session?<\/b><\/p>\n
The Aussie year-on-year CPI has decreased to 7.4% from the previous value of 8.4% but is still higher than the forecasted value of 8.1%. This indicates that inflation is still a concern for the economy, but the rate of increase has slowed down compared to the previous period.<\/span><\/p>\n What does it mean for Europe and US Sessions?<\/b><\/p>\n Should the MoM German inflation come in lower than expected, the USD should continue its recovery rally against the major currencies as the trend of slowing inflation seems to persist.<\/span> Key news events today<\/b><\/p>\n ISM Manufacturing PMI<\/span><\/p>\n What can we expect from DXY today?<\/b><\/p>\n The upcoming release of the ISM Manufacturing PMI is expected to improve slightly, with a consensus estimate of 47.9 (previous 47.4). However, a reading below 50 still indicates a contraction in the manufacturing sector.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Weak Bearish<\/span><\/p>\n Gold (XAU)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from Gold today?<\/b><\/p>\n The US Consumer Confidence report indicated a reduction in inflation expectations compared to the previous month, potentially hurting gold prices as the yellow metal is often seen as a hedge against inflation.<\/span><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Bearish<\/span><\/p>\n The Euro (EUR)<\/b><\/p>\n Key news events today<\/b><\/p>\n German Prelim CPI m\/m<\/span><\/p>\n What can we expect from EUR today?<\/b><\/p>\n The German Prelim CPI m\/m is forecasted at 0.5%, lower than the previous figure of 1.0%. This indicates that the inflation rate in Germany is expected to slow down. Since the country is the largest economy in the Eurozone, its expected release may impact EUR negatively as the ECB may be influenced to be less hawkish in their path on interest rate hikes.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n <\/p>\n Next 24 Hours Bias<\/b><\/p>\n Bearish<\/span><\/p>\n The Swiss Franc (CHF)<\/b><\/p>\n Key news events today<\/b><\/p>\n Retail Sales y\/y<\/span><\/p>\n Manufacturing PMI<\/span><\/p>\n What can we expect from CHF today?<\/b><\/p>\n Although negative, the expected figure for Swiss\u00e2\u20ac\u2122s Retail Sales (y\/y) is expected to show a slight improvement of -2.2% compared to the previous release of -2.8%. This may indicate a gradual recovery in the retail sector.\u00c2\u00a0<\/span><\/p>\n On the Manufacturing PMI front, the forecasted figure of 50.4 suggests a slight improvement from the previous figure of 49.3, indicating a modest expansion in the manufacturing sector.\u00c2\u00a0<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Mixed<\/span><\/p>\n The Pound (GBP)<\/b><\/p>\n Key news events today<\/b><\/p>\n BOE Gov Bailey Speaks<\/span><\/p>\n What can we expect from GBP today?<\/b><\/p>\n As the conference to be attended by the BoE Governor is focused on the cost-of-living crisis, his speech and any audience questions could lead to Governor Bailey addressing monetary policy implications due to the country\u00e2\u20ac\u2122s stubbornly high inflation.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Mixed<\/b><\/p>\n The Canadian Dollar (CAD)<\/b><\/p>\n Key news events today<\/b><\/p>\n Manufacturing PMI<\/span><\/p>\n What can we expect from CAD today?<\/b><\/p>\n The upcoming data release for Canadian Manufacturing PMI will provide insights into the manufacturing sector\u00e2\u20ac\u2122s performance. In the previous release, the PMI figure was reported at 51.0, indicating modest expansion in the manufacturing industry.\u00c2\u00a0<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Bullish<\/span><\/p>\n Oil<\/b><\/p>\n Key news events today<\/b><\/p>\n Crude Oil Inventories<\/span><\/p>\n What can we expect from Oil today?<\/b><\/p>\n The upcoming data release for crude oil inventories is expected to decrease to 1.7 million barrels, compared to the previous week’s figure of 7.6 million. This indicates a potential reduction in the supply of crude oil, which may lead to a rise in oil prices if demand remains stable or increases.<\/span><\/p>\n Next 24 Hours Bias<\/span><\/p>\n Bullish<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" What happened across the Asia session? The Aussie year-on-year CPI […]<\/p>\n","protected":false},"author":8,"featured_media":56102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215],"tags":[],"class_list":["post-57061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis"],"_links":{"self":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/comments?post=57061"}],"version-history":[{"count":2,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57061\/revisions"}],"predecessor-version":[{"id":57069,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57061\/revisions\/57069"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media\/56102"}],"wp:attachment":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media?parent=57061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/span>
\n<\/span>The Dollar Index (DXY) Update<\/b><\/p>\n\n
\n
\n
\n
\n