How Will USD React To The US PPI?
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
Wednesday News: Commodities at Record Highs
Every day brings new fluctuations on the market, and commodities reach record high numbers. The changes are not persistent and to wave up and down.
President Joe Biden officially announced that the US would ban Russian imports of crude oil and other energy products, which confirmed speculation made earlier this week and propelled oil prices to nearly 14-year highs. Now XBR is approximately $128.50.
Nickel trading was suspended on the London Metal Exchange (LME) after its price topped $100,000 per metric ton due to shortages of the commodity, fueled by supply concerns due to the Russian-Ukrainian war.
S&P 500 and Nasdaq 100 futures fluctuated, while European contracts cut gains.
In cryptocurrencies, Bitcoin rallied, reaching $41,000. Now the resistance is $45,700, and the support is $36,930. Tokens like Ethereum also jumped.
Coca-Cola Co. joined McDonald's Corp., Starbucks Corp. and a host of other companies in suspending operations in Russia to protest the war.
Gold was near a 19-month high. After rocketing XAUUSD $2070 yesterday, it fell $30 down.
Have a good trading day!
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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.
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What Will Bring the Core PCE Price Index Release?
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The Big Release for the USD
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
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.
