How Will USD React To The US PPI?
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
Thursday News: Fed Brings Ideas to Others
After Federal Reserve announced an interest rate, the wave of changes went through different spheres.
The Fed has raised rates by a quarter of a percentage point and has signaled higher rates at all six remaining meetings in 2022. Chairman Jerome Powell said the US economy is "very strong" and can handle monetary tightening.
The dollar was stable, while the yen hovered around a six-year low. USDJPY has rocketed to $118.70.
Crude oil has fallen in price for the third day, partly due to signs of progress in negotiations between Russia and Ukraine. Now XTIUSD is 96.40.
The Chinese HK50 and the US S&P 500 and Nasdaq 100 (US500 and US100) rose on Wednesday as market sentiment improved on Chinese economic support, Fed optimism and hopes for progress in Russia-Ukraine ceasefire talks.
The President of Ukraine signed a bill on the legalization of cryptocurrency. The bill is called “On Virtual Assets” and establishes the legal basis for the operation of a regulated crypto market in the country.
Toyota suspended the work of two of its plants in Japan after the earthquake.
Don’t miss: GBP BOE official bank rate, March 17 14:00 MT time.
Have a nice trading day!
Similar
Will CPI push USD higher?
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Will oil change the trend after OPEC meetings?
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
Latest news
Will New Zealand’s Central Bank Boost the NZD?
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
What’s New with Australian Unemployment Rate?
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
Can the UK CPI surprise?
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
