USD volatility expected with CPI data
February 14, 2018
Europe Market Movements
The GBP saw gains against the USD after the CPI release yesterday swinging up from 1.3896 at 9.25 GMT up to 1.3923 three hours later. With no events in the UK today, the markets are now waiting for the US CPI and Core CPI releases this afternoon which will probably also influence Federal Reserve interest rate policy. EUR traders for their part, are looking at the Gross Domestic Product data for EUR volatility.
US Market Movements
Other than the US CPI and Core CPI releases, which as said, will probably move the USD, the weekly oil inventories report usually affects the loonie. The USDCAD fell from a high of 1.26 yesterday afternoon to 1.261 to 1.257 this morning. Watch out for movement on this front.
Asia/Oceania Market Movements
Asian indices are mixed today with the Nikkei 225 falling by 1.33% and the Australian S&P/ASX 200 by 0.27%. The Kospi has risen by 0.68% as has the Hang Seng by 0.77%. On the whole, Asian markets are quiet today as we approach the Chinese New Year tomorrow.
OPEC has been cutting production to stabilize Crude prices but surging US oil production could soon equal global demand growth which will inevitably affect oil prices. Today’s EIA report will probably move WTI and Brent prices. A weaker USD has boosted gold prices, keep an eye on today’s data.
|10:00 GMT||EUR: Gross Domestic Product|
|13:30 GMT||USD: Retail Sales ex Autos; Consumer Price Index|
|15:30 GMT||USD & CAD: EIA Crude Oil Stocks|