Inflation Is in Focus Again
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Markets ahead of the CPI Release
Good Wednesday, dear traders! Let’s look at the main news ahead of the main event that will shake the markets: the release of US CPI at 15:30 GMT+3!
Main news
- The United States will release the Inflation Rate today at 15:30 GMT+3. According to the forecasts, The headline US CPI will advance by 0.6%, while the core indicator will rise by 0.2%. Such an impressive increase may push the Fed towards more rate hikes.
- Yesterday, Apple introduced iPhone 15, and its shares fell by almost 2%. Device cameras have more megapixels and weigh 1 gram less, and it is also possible to send a satellite SOS signal in 14 countries. But the most important thing is that Apple has officially abandoned the Lightning connector and is switching its devices to USB Type-C.
- BBG CFTC says bullish bets on WTI oil from a hedge fund are the highest in 15 months. Meanwhile, BofA notes that the US Strategic Petroleum Reserve (SPR) is at a 40-year low, and oil prices are at a 10-month high. A new struggling cycle around oil prices starts. Oil price growth may push inflation higher again.
- Tesla topped the list of the most shorted large-cap US stocks. At the end of August, this happened for the third month. Meanwhile, Tesla stocks made a large gap on September 11th. The price may try to close it by returning to $256.50.
EURUSD ahead of US CPI
The pair has been moving within the descending trading channel. Today, it has been hovering between the strong support at 1.06850 and the 50-period SMA. If the release exceeds expectations today, the pair will break the support at 1.0685 and target the next support at 1.0630. Otherwise, we will see a surge toward the resistance at the upper border of the descending channel at 1.0830.
Similar
GBPUSD May Strengthen Resulting the Fed and The BOE Meetings
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
Latest news
Bearish Signal For The USD
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Current Risks for Developed Economies
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
News for The Week
US stock markets started falling, while the US dollar is rising. What to expect from
