The Most Important News For Today
Here is the digest with the most interesting news for today
Friday News: PCI Influence Currencies
Information is not investment advice
Yesterday the Bureau of Labor Statistics’ CPI release was the same as expected, and now the inflation in the US is 7.9% year-over-year, underscoring the severe inflationary pressures hitting the US economy, with everything from groceries to rent and airline tickets becoming more expensive for everyday consumers.
Due to that, USD rose against most major currencies. For instance, GBPUSD lost almost 1000 points. Now the resistance is 1.31800 and the support is 1.30650.
JPY fell to its weakest level against the dollar since January 2017 at 116.72 per dollar.
EURUSD failed to get above 1.1100 yesterday and settled around 1.0994 as the ECB's hawkish tone failed to boost the single currency's momentum.
The Hong Kong tech indicator fell more than 6% after the US identified five Chinese firms that could be delisted. US-traded Chinese stocks experienced their worst day since 2008 on Thursday amid renewed concerns from regulators.
Meanwhile, more firms are turning their backs on Russia in response to the invasion of Ukraine. JPMorgan Chase & Co. joined Goldman Sachs Group Inc. to leave Russia.
Today is CAD Unemployment rate release, which can lead to USDCAD’s interesting movements!
Have a good trading day!
Similar
Elon Musk Fires People and Brazil Real Rises Ahead of the Elections
Markets never sleep! Let’s be prepared for a beautiful trading experience by looking at the most important news of Tuesday!
USD and GBP Traders Await Big Moves
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Popular
Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements.
Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
Choose your payment system
