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What happened in the Asian session?<\/b><\/p>\n
The latest Australian Westpac Consumer Sentiment is 0.0%, which indicates no change from the previous period’s -6.9%. Moreover, the NAB Business Confidence is -4, a decrease from the previous period’s 6. This suggests little optimism among consumers and businesses, which could be a bearish signal for the AUD.<\/span><\/p>\n What does it mean for the Europe and US Sessions?<\/b><\/p>\n Investors are still concerned about the potential contagion risks from the US banking sector. This apprehension is particularly relevant as expectations for the US Consumer Price Index (CPI) have lowered. If the actual price increases meet these reduced expectations, it is likely that the dollar will experience a sell-off. This is because such a scenario would diminish the possibility of the Federal Reserve raising interest rates by 50 basis points during the upcoming March meeting.<\/span><\/p>\n The Dollar Index (DXY)<\/b><\/p>\n Key news events today<\/b><\/p>\n CPI m\/m<\/span><\/p>\n CPI y\/y<\/span><\/p>\n Core CPI m\/m<\/span><\/p>\n What can we expect from DXY today?<\/b><\/p>\n US CPI m\/m is forecasted to rise 0.4% (previous 0.5%) and y\/y to fall to 6.0% (previous 6.4%). Core CPI m\/m is expected to stay at 0.3%. Higher-than-expected figures could increase USD strength due to potentially rising interest rates, while lower figures could decrease USD value.\u00c2\u00a0<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n 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 Gold, a safe-haven asset, experienced a surge in demand as investors sought to protect their wealth amidst the turmoil in the US banking sector. The aftermath following the announcement by the US Treasury and Fed to stem the crisis should continue to influence gold prices even in the face of the upcoming US CPI releases.<\/span><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Bullish<\/span><\/p>\n The Australian Dollar (AUD)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from AUD today?<\/b><\/p>\n A mixed reaction is expected for the AUD. A negative Westpac Consumer Sentiment (previous -6.9%) can lower spending, putting downward pressure on the AUD. A positive NAB Business Confidence (previous 6%) can boost investment, increasing demand for the AUD.\u00c2\u00a0<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Mixed<\/span><\/p>\n The Kiwi Dollar (NZD)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from NZD today?<\/b><\/p>\n The latest data of Visitor Arrivals m\/m at -26.3% (previous 55.6%) represents a decrease in the number of visitors arriving in New Zealand from the last month, which could have a negative impact on the NZD.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Weak Bearish<\/span><\/p>\n The Japanese Yen (JPY)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from JPY today?<\/b><\/p>\n No major news event for JPY today, so the currency’s price direction is likely to be influenced by previously released data. The BSI Manufacturing Index, which shows the industry\u00e2\u20ac\u2122s current state, was -10.5 (expected -4.2, previous -3.6). This suggests a decline in output and orders, which may negatively impact the JPY.\u00c2\u00a0<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Weak Bearish<\/span><\/p>\n The Euro (EUR)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from EUR today?<\/b><\/p>\n The upcoming ECOFIN Meetings could impact the euro. Any significant announcements or decisions made during these meetings could affect the market’s perception of the eurozone economy, potentially leading to changes in the euro’s value.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n <\/p>\n Next 24 Hours Bias<\/b><\/p>\n Mixed<\/span><\/p>\n The Swiss Franc (CHF)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from CHF today?<\/b> Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Weak Bearish<\/span><\/p>\n The Pound (GBP)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from GBP today?<\/b><\/p>\n The Claimant Count Change is predicted to rise by 12.5K, compared to the previous decrease of 12.9 K. Additionally, the Average Earnings Index of 3m\/y is expected to drop from 5.9% to 5.7%. This trend could signify a weaker labour market, potentially prompting the BoE to take a less aggressive approach to interest rate hikes or even to pause rate hikes altogether.<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Weak Bearish<\/b><\/p>\n The Canadian Dollar (CAD)<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from CAD today?<\/b><\/p>\n The forecasted data for Manufacturing Sales m\/m shows a decrease of 0.4% compared to the previous data, which was a decline of 1.5%. This suggests that the manufacturing industry in Canada is recovering from the last slump, which could positively impact the CAD currency.\u00c2\u00a0<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Weak Bullish<\/span><\/p>\n Oil<\/b><\/p>\n Key news events today<\/b><\/p>\n No major news events.<\/span><\/p>\n What can we expect from Oil today?<\/b><\/p>\n The US banking crisis has led to concerns about the availability of credit and the health of other US financial institutions. If more financial institutions suffer losses or fail, it could lead to a decrease in consumer confidence and a subsequent decrease in consumer spending, which would also impact oil demand.<\/span><\/p>\n Next 24 Hours Bias<\/span><\/p>\n Weak Bearish<\/span><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" What happened in the Asian session? The latest Australian Westpac […]<\/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-57233","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\/57233","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=57233"}],"version-history":[{"count":2,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57233\/revisions"}],"predecessor-version":[{"id":57237,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57233\/revisions\/57237"}],"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=57233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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\n<\/span>A lower-than-forecasted Swiss PPI m\/m figure (0.5% vs previous 0.7%) could weaken CHF, indicating easing inflationary pressures and potentially less aggressive interest rate hikes by the SNB to contain price increases.<\/span><\/p>\n\n
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