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Week Ahead: Fallout from BOE and NFP; Focus on CPI
This week expect to see more follow through price action from Non-Farm Payrolls and the BOE. In addition, watch the data to see if inflation has peaked or continued higher.
GBP/USD: What doesn’t kill you makes you stronger
GBP/USD is down only modestly despite so much negative news...
Forex Friday: USD/JPY, Yields and peak inflation?
In this week’s edition, we discuss the re-pricing of future rate hikes and potential for peak inflation, and how all this is helping to fuel a rally in zero- and low-yielding assets.
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Heed the SNB’s warning if inflation reading is high!
The SNB has already given warnings that it could take monetary policy action between meetings if necessary.
Japan data dump won’t help the Yen; USD/JPY
If the data dump later comes out as expected, will the BOJ turn less dovish? It's unlikely.
AU Q2 inflation surges but fears ease over supersized 75bp RBA rate hike
June quarter Australian inflation data has surged to 6.1%, but below consensus expectations easing fears of a supersized 75bp rate hike when the RBA meets next week.
Mexico CPI continues to rise; rate hikes not helping yet
The headline mid-month inflation rate for July is 8.16% YoY , led primarily by rising food costs. This is the highest level of inflation in 21 years!
Canada CPI weaker than expected – Peak inflation?
Although the June CPI reading for Canada was higher than the May reading, the headline was much lower than expected.
Traders see continued rate hikes over the next year, despite concerns of a recession
Will central banks be able to raise rates fast enough to keep higher inflation at bay, while simultaneously keeping the world out of a recession?
Gold rises, dollar slumps despite hot CPI
Hot CPI readings may hurt the economy so badly that the Fed may start cutting rates again in as early as Q1
US CPI comes in hot! US Dollar on the move
The US CPI print came out much hotter than expected 9.1% YoY. This print, combined with the strong employment data, should give the Fed confidence to hike at least 75bps
US CPI preview: Will inflation overshoot again?
Annual CPI is expected to have accelerated to 8.8% in June from 8.6% in May.
Two trades to watch: GBP/USD, USD/CAD
GBP/USD rises after UK GDP, US CPI next, USD/CAD awaits the BoC rate decision.
EUR/USD remains undermined on mixed Eurozone CPI
Inflation hits a fresh record high in the Eurozone
European Open: Keep an eye on Germany's Regional CPI’s
The first (of several) regional inflation reports for Germany came in soft this morning, and that could be a lead for Germany’s broad CPI released at lunch today.
Bank of Mexico hikes 75bps after higher inflation reading
Will USD/MXN continue lower? It may depend on whether the central bank decides to hike another 75bps at its August meeting!
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10:22 AM − 05 Aug 2022
Bank of Mexico hikes 75bps after higher inflation reading
Will USD/MXN continue lower? It may depend on whether the central bank decides to hike another 75bps at its August meeting!
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CPI is highest since 1981; DXY, EUR/USD
The reaction in the markets is a stronger US Dollar and a lower EUR/USD, which insinuates a call for more aggressive tightening from the Fed.
US open: Stocks tumble as inflation unexpectedly rises
Stocks are set for a steeply lower start after the keenly awaited CPI data showed that inflation unexpectedly rose in May to 8.6% YoY a fresh 40 year high.
European Open: There's nerves in the air ahead of US inflation
There’s clearly nervousness in the air ahead of today’s US inflation report, as index futures cling to their lows after breaking lower from a 7-day range.
A peek at (peak?) inflation
US Inflation may have softened to a degree in April, but traders really want to see further evidence that inflation is pointing lower to call ‘peak inflation’ with more confidence.
EU stocks wobble as inflation jumps to new high
European stocks may struggle to sustain a positive trend amid surging price pressures
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.