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What happened in the US session?<\/b><\/p>\n
US CPI m\/m at 0.4% met forecasts, with 6.0% y\/y (as predicted) but below the previous 6.4%. Core CPI m\/m was up 0.5% (0.4% forecast). A limited impact on USD is expected as figures mostly align with expectations, but inflation remains a crucial concern for the economy.<\/span><\/p>\n What does it mean for the Asian Session?<\/b><\/p>\n Lingering concerns about contagion risks from the US banking sector are likely to cap the recovery of risky assets. If history repeats, more banks, even outside the US, could announce troubles. A \u00e2\u20ac\u02dcsafe-haven\u00e2\u20ac\u2122 run to the Swiss Franc, Japanese Yen and Gold is highly probable in this scenario.<\/span><\/p>\n The Dollar Index (DXY)<\/b><\/p>\n Key news events today<\/b><\/p>\n Core PPI m\/m<\/span><\/p>\n Core Retail Sales m\/m<\/span><\/p>\n Empire State Manufacturing Index<\/span><\/p>\n PPI m\/m<\/span><\/p>\n What can we expect from DXY today?<\/b><\/p>\n The upcoming data releases may hurt the USD, as the Core PPI m\/m is forecasted to be 0.4%, down from the previous month’s reading of 0.5%. Similarly, the Core Retail Sales m\/m is predicted to be -0.1%, lower than the previous month’s reading of 2.3%. The Empire State Manufacturing Index is expected to be -7.9, worse than the last reading of -5.8%.<\/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 The impact of the US CPI data release on gold prices will likely be mixed. An inflation rise can increase gold demand as a safe-haven investment. But, the limited impact on USD from the latest CPI release may dampen gold prices in the short term since a weaker dollar can attract foreign investors\u00e2\u20ac\u2122 demand for the precious metal.<\/span><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Mixed<\/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 No major news events for AUD today, so price direction is likely to draw from previously released data. Westpac Consumer Sentiment is unchanged at 0.0%, and NAB Business Confidence declined to -4, indicating less confidence in the economy, potentially negatively impacting demand for AUD.\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 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 NZD’s current account balance was -9.46B, worse than the forecasted -7.64B but better than the previous -10.21B. The persistent negative balance suggests weaker economic performance and may lead to a decline in NZD’s value.<\/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 The Bank of Japan announced that they would continue their ultra-dovish policy stance and quantitative easing measures to maintain their inflation target of 2 per cent. This decision was expected and is intended to ensure stability in the economy.<\/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 Positive German WPI (expected 0.3%, previous 0.2%) and Industrial Production data (expected 0.3%, previous -1.1%) may boost the Euro. A decrease in the Italian Quarterly Unemployment Rate (expected 7.8%, previous 7.9%) could also support the currency. However, the French Final CPI (expected 0.9%, previous 0.9%) is not likely to significantly impact the Euro.\u00c2\u00a0<\/span><\/p>\n Central Bank Notes:<\/span><\/i><\/p>\n <\/p>\n Next 24 Hours Bias<\/b><\/p>\n Weak Bullish<\/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 Annual Budget Release\u00c2\u00a0<\/span><\/p>\n What can we expect from GBP today?<\/b><\/p>\n A positive release in the UK’s Annual Budget Release showing strong economic growth and fiscal discipline can boost GBP. In contrast, a negative release with higher taxes or lower growth projections can cause a drop in the British Pound.<\/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 No major news events.<\/span><\/p>\n What can we expect from CAD today?<\/b><\/p>\n Canadian Housing Starts are forecasted to increase from 215K to 222K. This could positively impact the CAD due to job creation and economic growth.\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 projected decrease of 0.2M barrels (previous -1.7M) in Crude Oil Inventories may cause a rise in oil prices if actual data release shows a more significant reduction. In contrast, a minor reduction may result in muted impact.\u00c2\u00a0<\/span><\/p>\n Next 24 Hours Bias<\/b><\/p>\n Weak Bullish<\/span><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" What happened in the US session? US CPI m\/m at […]<\/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-57246","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\/57246","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=57246"}],"version-history":[{"count":1,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57246\/revisions"}],"predecessor-version":[{"id":57247,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57246\/revisions\/57247"}],"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=57246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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\n<\/span>No major news event is expected to affect the CHF currency today. The previously released PPI m\/m data may determine the price direction bias, with the actual data showing a negative reading of -0.2% (expected 0.5%, previous 0.7%).<\/span><\/p>\n\n
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