Market Open Updates: Euro Trading Session
🇺🇸 Biden Attacks Trump On 'Democracy And Freedom' In Fiery SOTU Speech
💵 Powell Says The Fed Is 'Not Far' From The Point Of Cutting Interest Rates
💵 Fed's Mester Sees Rate Cuts This Year If Inflation Keeps Cooling
💶 ECB's Nagel Sees Rising Chance Of Rate Cut Before Summer Break
🇯🇵 Japan Not Planning To Add Chip Export Control For Now, Minister Says
🇯🇵 Japan FinMin Suzuki: Too Early To Mention Additional Fiscal Targets
📈 Broadcom Expects AI Demand To Help Offset Weakness Elsewhere
📰 Huawei Chip Breakthrough Used Tech From Two US Gear Suppliers
🗞️ Boeing To Tie More Of Employees' Pay To Safety
🇺🇸 Biden Attacks Trump On 'Democracy And Freedom' In Fiery SOTU Speech
💵 Powell Says The Fed Is 'Not Far' From The Point Of Cutting Interest Rates
💵 Fed's Mester Sees Rate Cuts This Year If Inflation Keeps Cooling
💶 ECB's Nagel Sees Rising Chance Of Rate Cut Before Summer Break
🇯🇵 Japan Not Planning To Add Chip Export Control For Now, Minister Says
🇯🇵 Japan FinMin Suzuki: Too Early To Mention Additional Fiscal Targets
📈 Broadcom Expects AI Demand To Help Offset Weakness Elsewhere
📰 Huawei Chip Breakthrough Used Tech From Two US Gear Suppliers
🗞️ Boeing To Tie More Of Employees' Pay To Safety
NFP Friday: US NFP Data
US Change In Nonfarm Payrolls Feb: 275K (est 200K; prev 353K)
US Unemployment Rate Feb: 3.9% (est 3.7%; prev 3.7%)
US Average Hourly Earnings (M/M) Feb: 0.1% (est 0.2%; prev 0.6%)
US Average Hourly Earnings (Y/Y) Feb: 4.3% (est 4.3%; prev 4.5%)
US Labour Force Participation Rate Feb: 62.5% (est 62.6%; prev 62.5%)
US Change In Nonfarm Payrolls Feb: 275K (est 200K; prev 353K)
US Unemployment Rate Feb: 3.9% (est 3.7%; prev 3.7%)
US Average Hourly Earnings (M/M) Feb: 0.1% (est 0.2%; prev 0.6%)
US Average Hourly Earnings (Y/Y) Feb: 4.3% (est 4.3%; prev 4.5%)
US Labour Force Participation Rate Feb: 62.5% (est 62.6%; prev 62.5%)
According to Glassnode, long-term holders' net position has been consistently negative since the approval of BTC ETFs, indicating a clear distribution of long-term holders, particularly when BTC reached an all-time high. It is evident that more retail investors are actively buying spot BTC, with total volume reaching a yearly high of 43B USD on March 5th, followed by 31B USD afterward.
As of now, BTCUSD is holding firm above 65000 after forming higher swings. However, its chances of upward momentum decrease as it continues to remain below its all-time high. The price may retest its all-time high if BTCUSD bounces back from 63500- 64000. Conversely, if the price fails to bounce back after returning below 65000, BTCUSD may plummet to 60000.
As of now, BTCUSD is holding firm above 65000 after forming higher swings. However, its chances of upward momentum decrease as it continues to remain below its all-time high. The price may retest its all-time high if BTCUSD bounces back from 63500- 64000. Conversely, if the price fails to bounce back after returning below 65000, BTCUSD may plummet to 60000.
Here are the important upcoming news events that could affect your trading.
Learn more: https://www.exness.global/calendar/
Learn more: https://www.exness.global/calendar/
Market Updates Euro Trading Session
💵 Fed Officials To Signal Interest Rate Cuts Are Getting Closer
💵 Traders On Alert For Hotter-Than-Expected US Inflation Print
🇮🇱 Netanyahu Vows To Defy Biden's 'Red Line' And Invade Rafah
🇨🇳 Chinese Consumer Prices Rise For First Time Since August
💴 BoJ Mulls Ending Yield Control To Focus On JGB Buying Size
🇯🇵 Japan's Economy Avoids Recession Week Before BoJ Meeting
🇬🇧 Sunak Points To Welfare Curbs For Future Tax Cuts, Times Says
🇬🇧 UK Labour Market Loses More Momentum In February, REC Shows
💵 Sell US Treasuries After 'Excessive' Bond Rally, Barclays Says
💵 Fed Officials To Signal Interest Rate Cuts Are Getting Closer
💵 Traders On Alert For Hotter-Than-Expected US Inflation Print
🇮🇱 Netanyahu Vows To Defy Biden's 'Red Line' And Invade Rafah
🇨🇳 Chinese Consumer Prices Rise For First Time Since August
💴 BoJ Mulls Ending Yield Control To Focus On JGB Buying Size
🇯🇵 Japan's Economy Avoids Recession Week Before BoJ Meeting
🇬🇧 Sunak Points To Welfare Curbs For Future Tax Cuts, Times Says
🇬🇧 UK Labour Market Loses More Momentum In February, REC Shows
💵 Sell US Treasuries After 'Excessive' Bond Rally, Barclays Says
Market Commentary: Traders Are On Alert For A Hotter-Than-Expected Inflation Print
A month after the stock market was rocked by a worse-than-expected inflation report, investors are fearing a reprise when the latest data arrives on Tuesday.
Despite last week’s sideways price action, the S&P 500 Index is on a tear, climbing in 16 of the past 19 weeks on the back of improving earnings outlooks and a resilient US economy. The broad equities benchmark hasn’t had a better run than this since 1964. But some of those gains could be undone if the monthly consumer price index reading continues to show inflation remaining stubbornly sticky.
“The economic data is starting to raise more questions than answers over just how long it will take the Fed to gain more confidence about inflation improving,” Thomas Martin, senior portfolio manager at Globalt Investments, said over the phone. “Stocks have had a strong year so far, but have they come too far too fast? Probably.” BBG
A month after the stock market was rocked by a worse-than-expected inflation report, investors are fearing a reprise when the latest data arrives on Tuesday.
Despite last week’s sideways price action, the S&P 500 Index is on a tear, climbing in 16 of the past 19 weeks on the back of improving earnings outlooks and a resilient US economy. The broad equities benchmark hasn’t had a better run than this since 1964. But some of those gains could be undone if the monthly consumer price index reading continues to show inflation remaining stubbornly sticky.
“The economic data is starting to raise more questions than answers over just how long it will take the Fed to gain more confidence about inflation improving,” Thomas Martin, senior portfolio manager at Globalt Investments, said over the phone. “Stocks have had a strong year so far, but have they come too far too fast? Probably.” BBG
Chart of the Day
XAUUSD is showing signs of a bullish trend with a rising trend line and sustained price levels above 2168.00. The price could continue pushing higher, with resistance levels at 2200.00 & 2225.00 in extension. Notably, the resistance level at 2225.00 coincides with a 23.6% Fibonacci ratio. The RSI is lacking downward momentum, indicating that the bulls are firmly in control. However, if the price drops below the pivot level of 2168.00, there could be further downside towards support levels at 2155.00 & 2140.
XAUUSD is showing signs of a bullish trend with a rising trend line and sustained price levels above 2168.00. The price could continue pushing higher, with resistance levels at 2200.00 & 2225.00 in extension. Notably, the resistance level at 2225.00 coincides with a 23.6% Fibonacci ratio. The RSI is lacking downward momentum, indicating that the bulls are firmly in control. However, if the price drops below the pivot level of 2168.00, there could be further downside towards support levels at 2155.00 & 2140.
Market Updates: Euro trading Session
🇺🇸 Biden's $7.3 Tln Budget Sets Spending, Tax Fight With Trump
💶 ECB's Kazimir Favors June Cut As Inflation Retreat Still Fragile
💶 ECB's Makhlouf: Prefer Gradual Changes To Monetary Policy Stance
💶 ECB Is Leaning Toward Keeping Banks' Minimum Reserve Level At 1%
💶 ECB Can Cut Rates Even If Fed Doesn't, UniCredit's Nielsen Says
💷 UBS Pushes Back Its BoE Rate Cut Forecast To August From May
💷 BoE's Mann: Long Way For Inflation Pressures To Be Consistent With 2% Target
💶 Ministers Say Slight Eurozone Fiscal Contraction In 2025 Appropriate
💴 Japan's Business Lobby Head Sees Near-Term Chance Of BoJ Policy Shift
📰 Nvidia Says NeMo AI Platform Complies With Copyright After Authors' Complaint
🇺🇸 Biden's $7.3 Tln Budget Sets Spending, Tax Fight With Trump
💶 ECB's Kazimir Favors June Cut As Inflation Retreat Still Fragile
💶 ECB's Makhlouf: Prefer Gradual Changes To Monetary Policy Stance
💶 ECB Is Leaning Toward Keeping Banks' Minimum Reserve Level At 1%
💶 ECB Can Cut Rates Even If Fed Doesn't, UniCredit's Nielsen Says
💷 UBS Pushes Back Its BoE Rate Cut Forecast To August From May
💷 BoE's Mann: Long Way For Inflation Pressures To Be Consistent With 2% Target
💶 Ministers Say Slight Eurozone Fiscal Contraction In 2025 Appropriate
💴 Japan's Business Lobby Head Sees Near-Term Chance Of BoJ Policy Shift
📰 Nvidia Says NeMo AI Platform Complies With Copyright After Authors' Complaint
Market Commentary: US CPI Preview: Forecasts From 10 Major Banks, Inflation Still Too High
The US Bureau of Labor Statistics (BLS) will release the most important inflation measure, the US Consumer Price Index (CPI) figures, on Tuesday, March 12 at 12:30 GMT. As we get closer to the release time, here are the forecasts by the economists and researchers of 10 major banks regarding the upcoming United States inflation print for February.
Headline prices are expected to have risen 0.4% month-on-month vs. the prior release of 0.3% and to remain steady at 3.1% year-on-year. Core CPI, which excludes volatile energy and food data, is set to show an increase of 0.3% MoM in February, slower than 0.4% in January. Yearly, a deceleration of two ticks from 3.9% to 3.7% is expected. FXStreet
The US Bureau of Labor Statistics (BLS) will release the most important inflation measure, the US Consumer Price Index (CPI) figures, on Tuesday, March 12 at 12:30 GMT. As we get closer to the release time, here are the forecasts by the economists and researchers of 10 major banks regarding the upcoming United States inflation print for February.
Headline prices are expected to have risen 0.4% month-on-month vs. the prior release of 0.3% and to remain steady at 3.1% year-on-year. Core CPI, which excludes volatile energy and food data, is set to show an increase of 0.3% MoM in February, slower than 0.4% in January. Yearly, a deceleration of two ticks from 3.9% to 3.7% is expected. FXStreet
Chart of the Day: XAUUSD
XAUUSD is showing signs of a bullish trend with a rising trend line and sustained price levels above 2168.00. The price could continue pushing higher, with resistance levels at 2200.00 & 2225.00 in extension. Notably, the resistance level at 2225.00 coincides with a 23.6% Fibonacci ratio. The RSI is lacking downward momentum, indicating that the bulls are firmly in control.
However, if the price drops below the pivot level of 2168.00, there could be further downside towards support levels at 2155.00 & 2140.
XAUUSD is showing signs of a bullish trend with a rising trend line and sustained price levels above 2168.00. The price could continue pushing higher, with resistance levels at 2200.00 & 2225.00 in extension. Notably, the resistance level at 2225.00 coincides with a 23.6% Fibonacci ratio. The RSI is lacking downward momentum, indicating that the bulls are firmly in control.
However, if the price drops below the pivot level of 2168.00, there could be further downside towards support levels at 2155.00 & 2140.
Market Updates: Euro Trading Session
💵 US CPI's Upside Surprise Keeps Early Summer Cut In Play
💵 Fed-Funds Futures Traders Still See Fed's First Interest-Rate Cut In June
💴 BoJ Considering March Hike With Outcome Too Close To Call - Sources
💴BoJ Likely To Move Slowly On Raising Rates Even If It Ends NIRP - Sources
💴 BoJ To Offer Guidance On Bond Buying Pace Upon Ending YCC - Sources
💶ECB's Holzmann Says A Rate Cut Is More Likely In June Than April
💷 Traders Boost Bets On BoE Rate Cuts After UK Wage Growth Slows
💷 BoE's Bailey: C.Banks Must Work Out How Restrictive Rates Need To Be
🛢️ OPEC Holds Oil Demand View Steady, Raises 2024 Economic Forecast
🛢️Putin Voices Support For OPEC+ Oil Cuts Yet Warns Of Risks
📈 BofA Strategists Boost S&P 500 Profit Forecast To Join Top Bulls
💵 US CPI's Upside Surprise Keeps Early Summer Cut In Play
💵 Fed-Funds Futures Traders Still See Fed's First Interest-Rate Cut In June
💴 BoJ Considering March Hike With Outcome Too Close To Call - Sources
💴BoJ Likely To Move Slowly On Raising Rates Even If It Ends NIRP - Sources
💴 BoJ To Offer Guidance On Bond Buying Pace Upon Ending YCC - Sources
💶ECB's Holzmann Says A Rate Cut Is More Likely In June Than April
💷 Traders Boost Bets On BoE Rate Cuts After UK Wage Growth Slows
💷 BoE's Bailey: C.Banks Must Work Out How Restrictive Rates Need To Be
🛢️ OPEC Holds Oil Demand View Steady, Raises 2024 Economic Forecast
🛢️Putin Voices Support For OPEC+ Oil Cuts Yet Warns Of Risks
📈 BofA Strategists Boost S&P 500 Profit Forecast To Join Top Bulls
Market Commentary: US CPI's Upside Surprise Keeps Early Summer Cut In Play
Source: BLS, JPM
Experts responding to February’s US CPI report said Fed rate setters were unlikely to have been swayed either way by the inflation data heading into next week’s interest rate decision.
The US Bureau of Labor Statistics said the headline annual inflation rate rose 3.2% from 3.9% in December, a tenth above the median forecast. Core CPI printed 3.8% y/y compared with the 3.9% seen in January and a beat versus the 3.7% expectation.
In the month to February, consumer prices matched the 0.4% median estimate ticking higher from last month’s 0.3% mark. Core m/m also rose 0.4%, mirroring January but a tenth higher than forecasts.
The BLS reported that the index for shelter rose in February, as did the index for gasoline. “Combined, these two indexes contributed over sixty percent of the monthly increase in the index for all items.” LS
Source: BLS, JPM
Experts responding to February’s US CPI report said Fed rate setters were unlikely to have been swayed either way by the inflation data heading into next week’s interest rate decision.
The US Bureau of Labor Statistics said the headline annual inflation rate rose 3.2% from 3.9% in December, a tenth above the median forecast. Core CPI printed 3.8% y/y compared with the 3.9% seen in January and a beat versus the 3.7% expectation.
In the month to February, consumer prices matched the 0.4% median estimate ticking higher from last month’s 0.3% mark. Core m/m also rose 0.4%, mirroring January but a tenth higher than forecasts.
The BLS reported that the index for shelter rose in February, as did the index for gasoline. “Combined, these two indexes contributed over sixty percent of the monthly increase in the index for all items.” LS
Market Updates: Euro Trading Session
💵 Treasury's Yellen: Rates 'Unlikely' To Return To Pre-Covid Levels
🇺🇸 US To Impose New Sanctions On Occupied West Bank Outposts
💴 BoJ Set To Discuss Negative Rate Exit As Japan Pay Raises Grow
💴 BoJ Rate Hike Risk Revs Fiscal Reform Need, LDP Official Warns
💴 BoJ To Go Slow In Hiking Rates, Says Ex-Central Bank Executive
🇦🇺 Australia Pledges Cost-Of-Living Relief While Aiming For Surplus
🇬🇧 UK Housing Market Sees More Buyers & Sellers As Prices Steady
🛢️Oil Holds Biggest Gains In Five Weeks As US Stockpiles Declined
📉 Europe Regulator Says It Would Pull Boeing Approval If Needed
📉 Altria Seeking To Sell More Than $2Bln Of Its AB InBev Shares
💵 Treasury's Yellen: Rates 'Unlikely' To Return To Pre-Covid Levels
🇺🇸 US To Impose New Sanctions On Occupied West Bank Outposts
💴 BoJ Set To Discuss Negative Rate Exit As Japan Pay Raises Grow
💴 BoJ Rate Hike Risk Revs Fiscal Reform Need, LDP Official Warns
💴 BoJ To Go Slow In Hiking Rates, Says Ex-Central Bank Executive
🇦🇺 Australia Pledges Cost-Of-Living Relief While Aiming For Surplus
🇬🇧 UK Housing Market Sees More Buyers & Sellers As Prices Steady
🛢️Oil Holds Biggest Gains In Five Weeks As US Stockpiles Declined
📉 Europe Regulator Says It Would Pull Boeing Approval If Needed
📉 Altria Seeking To Sell More Than $2Bln Of Its AB InBev Shares
Market Commentary: Winners And Losers From The Bank Of Japan Ditching Negative Rates (JPY)
The Bank of Japan’s steady march toward raising interest rates for the first time since 2007 begs the question of who will win and who will lose after years of massive stimulus and ultra-low borrowing costs.
Higher interest rates will have a direct impact on the government, companies, banks and households, while a potential strengthening of the yen would trigger ripple effects on businesses, consumers and tourists. Flows of money and securities may also change if higher returns are available in Japan, adding to the wide-ranging fallout.
BoJ Governor Kazuo Ueda has already tried to reassure market players, company boardrooms and policymakers that the central bank isn’t looking to push rates sky high. But one thing’s for sure for now, the only direction for interest rates in Japan is up. BBG
The Bank of Japan’s steady march toward raising interest rates for the first time since 2007 begs the question of who will win and who will lose after years of massive stimulus and ultra-low borrowing costs.
Higher interest rates will have a direct impact on the government, companies, banks and households, while a potential strengthening of the yen would trigger ripple effects on businesses, consumers and tourists. Flows of money and securities may also change if higher returns are available in Japan, adding to the wide-ranging fallout.
BoJ Governor Kazuo Ueda has already tried to reassure market players, company boardrooms and policymakers that the central bank isn’t looking to push rates sky high. But one thing’s for sure for now, the only direction for interest rates in Japan is up. BBG
Market Updates: Euro Trading Session
📉 Markets Show Signs Of Big Tech Bubble, Crypto Surge, BofA Says
🪖 Hamas Statement Delivers Response On Hostage Deal Proposals
🇨🇳 China Drain Cash Via Key Funding Tool For First Time Since 2022
🇨🇳 China Economy Likely Off To Muted Start, 5% GDP Goal In Focus
🇨🇳 Chinese Home Price Slump Continues Despite Support Mounting
🇯🇵 Japan Unions Set To Unveil Wage Talks Results, Boding BoJ Shift
💴 Japan's FinMin: No Longer In Deflation, Wage Hike Trends Strong
💴 Analysts: BoJ To End Negative Rates In April, March High Chance
🇦🇺 Poll Sees Australia's RBA Unchanged In March, Cut Later In Year
🇬🇧 UK's Sunak Dismisses Speculation Around General Election Date
💶 ECB's Guindos Says Inflation Headed To 2% But Wages Still Risk
💶 ECB Has Achieved Soft Landing For Euro Zone, Stournaras Says
📉 Markets Show Signs Of Big Tech Bubble, Crypto Surge, BofA Says
🪖 Hamas Statement Delivers Response On Hostage Deal Proposals
🇨🇳 China Drain Cash Via Key Funding Tool For First Time Since 2022
🇨🇳 China Economy Likely Off To Muted Start, 5% GDP Goal In Focus
🇨🇳 Chinese Home Price Slump Continues Despite Support Mounting
🇯🇵 Japan Unions Set To Unveil Wage Talks Results, Boding BoJ Shift
💴 Japan's FinMin: No Longer In Deflation, Wage Hike Trends Strong
💴 Analysts: BoJ To End Negative Rates In April, March High Chance
🇦🇺 Poll Sees Australia's RBA Unchanged In March, Cut Later In Year
🇬🇧 UK's Sunak Dismisses Speculation Around General Election Date
💶 ECB's Guindos Says Inflation Headed To 2% But Wages Still Risk
💶 ECB Has Achieved Soft Landing For Euro Zone, Stournaras Says
🚀 Will Bitcoin surpass gold in 2024? 🤔
Recently, Bitcoin's market cap surged to $1.44 trillion, surpassing that of silver at $1.38 trillion! Meanwhile, many believe Bitcoin will significantly outperform gold, which currently stands at a market cap of $14.531 trillion.
With Bitcoin's rapid growth and increasing acceptance in mainstream finance, do you think it will emerge victorious over gold?
#Bitcoin #Gold #CryptoRevolution
Recently, Bitcoin's market cap surged to $1.44 trillion, surpassing that of silver at $1.38 trillion! Meanwhile, many believe Bitcoin will significantly outperform gold, which currently stands at a market cap of $14.531 trillion.
With Bitcoin's rapid growth and increasing acceptance in mainstream finance, do you think it will emerge victorious over gold?
#Bitcoin #Gold #CryptoRevolution
Do you think Bitcoin will emerge victorious over gold?/
Anonymous Poll
63%
Yes, it will emarge 💥
37%
No ways! 👎
Market Open Updates
💴 Japan FinMin Suzuki: Strong Wage Growth Drives Positive Economic Momentum
🇦🇺 RBA's Bullock: Need More Confidence On Inflation Lowering To Consider Cut
🇺🇸 Deal Reached To Avoid Shutdown, Negotiators Resolve Homeland Security Bill
💷 Jump In UK Minimum Wage Keeps Bank Of England On Alert
💴 BoJ's Dovish Tone After First Rate Hike Since 2007 Weighs On Yen
🛢️ Oil Holds Gain With Russian Refining And OPEC+ Curbs To The Fore
💴 BoJ Rate Hike Unlikely To Derail Stock Rally, Strategists Say
📈 Nvidia Joins Ongoing Race In Quantum-Computing Cloud Services
💴 Japan FinMin Suzuki: Strong Wage Growth Drives Positive Economic Momentum
🇦🇺 RBA's Bullock: Need More Confidence On Inflation Lowering To Consider Cut
🇺🇸 Deal Reached To Avoid Shutdown, Negotiators Resolve Homeland Security Bill
💷 Jump In UK Minimum Wage Keeps Bank Of England On Alert
💴 BoJ's Dovish Tone After First Rate Hike Since 2007 Weighs On Yen
🛢️ Oil Holds Gain With Russian Refining And OPEC+ Curbs To The Fore
💴 BoJ Rate Hike Unlikely To Derail Stock Rally, Strategists Say
📈 Nvidia Joins Ongoing Race In Quantum-Computing Cloud Services