Joe Perry
Joe Perry CMT
US Market Analyst
Index in Focus: S&P 500
Worse than expected economic data, continued high inflation, lower retail earnings, and a hawkish Fed are all reasons to expect that the S&P 500 Index may head lower.
Poor housing data sends USD/JPY lower
Weaker US housing data sent the markets into risk-off mode, dragging USD/JPY lower with it.
Lagarde comments, poor UK PMIs give EUR/GBP a lift
Hawkish comments from ECB President Christine Lagarde and weaker PMI data from the UK have helped push EUR/GBP back towards recent highs.
Christine Lagarde gives a boost to EUR/USD
With Christine Lagarde laying the groundwork for upcoming ECB rate hikes, EUR/USD has continued its recent bid higher.
Currency Pair of the Week: NZD/USD
This week, the RBNZ will take its turn at hiking rates and discussing its outlook on inflation.
Week Ahead: RBNZ, PMIs, and more Consumer Retail Earnings
Last week saw stock indices, the US dollar, and earnings tumble as fears of recession and stagflation gripped the markets.
Is the manufacturing sector telling us something?
Are these large drops in the manufacturing data indicative of a slowdown ahead in the rest of the economy?
After most of the data for the week, GBP/USD advancing
GBP/USD has been moving higher this week as a result of the strong labor market in the UK and the high inflation readings.
USD/ZAR near key technical level ahead of SARB
If the SARB raises rates less than expected or if the statement is less hawkish than expected, the pair may break higher.
Canadian inflation remains excessively high. What does it mean for USD/CAD?
The Canadian CPI print confirmed what the markets had already expected: that inflation continues to rise and will force the BOC to raise rates further.
ECB members turning more hawkish. But do markets believe them?
The ECB is providing more hawkish comments while the BOE is less sanguine due to slow expected growth.