The US Census Bureau has published the United States monthly retail sales data. In general, the data shows high demand at the retail level. The publication strengthened the US Dollar's value. Higher retail sales indicate that consumers continue to buy despite rising prices. The data signals that retailers can and will continue to increase prices and inflation will continue to
The US Bureau of Labor Statistics has published the US Producer Price Index data sets. Namely, price inflation change at the company level. It turns out that producer inflation has grown, but at an expected pace. Meanwhile, note that the President of the ECB is scheduled to host a press conference at 12:45 GMT. However, this time Madam Lagarde is
The European Central Bank has published its Main Refinancing Rate. The central bank has kept its rate at 4.50%, as it was expected by the financial markets. The Euro reacted to the event by resuming its prior decline and reaching new low levels. However, the move did not occur outside to normal volatility range. Meanwhile, note that the President of the
The US Bureau of Labor Statistics has published the United States inflation data. The US Consumer Price Index monthly change, Core CPI and annual CPI change have revealed that inflation is even higher than expected. Financial markets reacted to the new information by buying the US Dollar and selling off other assets. Month on month CPI was expected to show
The United States Bureau of Labor Statistics has published the country's monthly employment data. Markets reacted to the release by buying the US Dollar and selling off other assets. Non-farm Employment Change was expected to show that 212,000 people found jobs in March. Released data showed 303,000 job positions filled. Average Hourly Earnings were expected to have increased by 0.3%, compared
The President of the Minneapolis Federal Reserve Bank Neel Kashkari has just shook the financial markets. As one of the members of the committee that sets the US monetary policy and with it the base interest rate of the US Dollar, Kashkari has commented on the Fed Funds Rate. Neel Kashkari has stated that the Federal Reserve could keep interest
The Official Bank Rate of the Bank of England has been published. Markets expected the central bank to keep rate at 5.25%. Bank of England has done, as expected. Meanwhile, surveyed economists forecast that the Monetary Policy Committee was set to vote with eight members voting for keeping the rate unchanged and one member voting to cut the interest rate.
Unexpectedly to the financial markets the Swiss National Bank has just cut its base interest rate from 1.75% to 1.50%. The Swiss Franc is losing value due to the news. USD/CHF currency pair jumped 103 base points or 1.16% over the span of five minutes after the news were announced.
The United States Federal Reserve has just announced its Federal Funds Rate. Markets expected the Fed to keep the base interest rate unchanged at 5.50%. The Fed has done exactly that. However, the US Dollar declined on the announcement, as the market participants must have seen this as a relief from possible rate hike. Namely, inflation has shown to
The Consumer Price Index of Canada has revealed that prices have grown in 2.8% in February, compared to February of 2023. The markets expected a 3.1% increase. On a month on month basis prices have risen 0.3% instead of forecast 0.6% The news caused a surge of the USD/CAD, as the value of the Canadian Dollar declined due to algorithmic
The Bank of Japan has hiked its base interest rate from the -0.10 rate up to +0.10. This it he first rate hike in Japan in 17 years. The event has ended the eight years of negative interest rates in Japan. However, instead of an expected surge of the Japanese Yen. The Yen shortly surged, before resuming the previous
Despite the US Consumer Price Index not impacting the markets on Tuesday, there is still inflation at the producer level. Namely, the publication of the US Producer Price Index has revealed that inflation in the US is persistent. The new data indicates that the US Federal Reserve still has to combat inflation by tightening monetary policy. The Fed cannot
The US Bureau of Labor Statistics has published the monthly US employment data sets. Data reveals a mixed month, as the statistics have shown good and bad aspects in the US labour market. USD reacted to the news by sharply dropping and resuming the previous decline, as mixed news appear to have allowed the market to continue on in
The ECB Main Refinancing Rate has just been released. As expected, the central bank has kept the rate at 4.50%. In addition, the central bank published its Monetary Policy Statement. The event caused a minor 0.20% dip of the EUR/USD. The dip was attributed to a sentence in the policy statement. "Financing Conditions are restrictive and past interest rate
The Chairman of the US Federal Reserve Jerome Powell has just caused market volatility. Comments made at a testimony before US Congress committee have created various market reactions. In general, the head of the US monetary policy makers has stated that he still expects to cut interest rates during this year. This aspect is good for the financial markets, but
At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined. The index is an aggregate number for a survey of sales managers at top US firms. Managers reply by
The United States Bureau of Labor Statistics has just published the monthly Producer Price Index data. Prices for goods at the wholesale level have grown stunningly. The monthly increase in the PPI is at 0.3% and the Core PPI at 0.5%. Both were expected to increase just 0.1%. The producer price increase indicates that inflation is set to continue
Despite the UK economy entering a recession, in January, Retail Sales have increased 3.4%. However, the optimism is not warranted, as the sales have dropped -3.3% in December, which in nominals terms is a larger sum than the recovered amount. The GBP reacted to the news with a surge, before declining back to previous levels. In general, the rate remains
The United States Bureau of Labor Statistics has published the monthly employment data sets. The released data has caused a surge of the US Dollar of 0.5% over the span of a minute. Afterwards, the Dollar continue to gain, as the momentum had continued. Since mid-Monday, the Dollar index was testing the 104.50 level's resistance. Non-farm employment change was expected
The Bank of England has kept its Official Bank Rate unchanged at 5.25%. The no change was expected. The market reacted to the news with a slight strengthening of the Pound against other currencies. GBP/USD currency pair surged 55 points or 0.44%.
The United States Federal Reserve has just published its Federal Funds Rate. As expected, the central bank has kept its base rate unchanged at 5.50%. The no change was expected. Afterwards, the markets were looking forward to the follow up press conference of the Chairman of the Federal Reserve Jerome Powell. In general, the head of the central bank stated
The United States Advance Gross Domestic Product publication has surprises the financial markets, as a major beat of forecast has occurred. Markets expected GDP to have increased by 2.0%. Instead the US economy has grown by staggering 3.3%. The event caused a surge of US stock indices and the US Dollar. The USD surged due to the data indicating
The European Central Bank has just published its Main Refinancing Rate. As expected, the ECB has kept the interest rate at 4.50%. The EUR/USD currency exchange rate reacted to the news by surging only ten points and testing the resistance of the 1.0900 mark.
The monthly US Retail Sales data has been published. Markets expected Retail Sales to have increased by 0.4%. The actual released number revealed an increase of 0.6%. The US Dollar reacted to the news with a sharp surge up. The surge is attributed to the factor that higher retail sales are bound to boost inflation that would force the Federal