Global cocoa prices have hit a record high due to drought conditions damaging crops in West Africa. The El Niño weather phenomenon is causing hot, dry weather in major cocoa-producing countries like Ghana and Ivory Coast, while climate change is also worsening the situation. The global cocoa market faced its biggest deficit in over 60 years in the 2023-2024 marketing
The latest Bureau of Labor Statistics data showed that the Consumer Price Index (CPI) rose 2.7% annually in November, a slight increase from October's 2.6%, with a 0.3% monthly gain, matching economists' estimates, while core inflation, excluding food and gas, also climbed 0.3% month-over-month and 3.3% year-over-year, prompting concerns from economists who have noted it may not influence the Fed's
On December 12, 2024, the Swiss National Bank made necessary changes to the interest rate of the national currency. The initially forecasted interest rate cut was 0.25%, but unexpectedly, the market saw a cut of 0.50%. The new interest rate is now 0.50%. The larger-than-anticipated rate cut has had a negative impact on the national currency against the dollar. In
Bitcoin has outperformed the S&P 500 by more than 25% year-to-date and, on December 5th, 2024, reached the $100,000 price level—a historic milestone for an asset that has existed for less than two decades. The previous resistance level of $73,000 was breached, creating momentum for price discovery that led to $100,000. If a solid breakout above the $100,000 price
Coffee prices have seen a significant increase due to concerns about the future supply of coffee crops. Year-to-date, coffee prices have risen by over 72%, outperforming the S&P 500 index by nearly 50% so far this year. Ongoing drought conditions in Brazil are raising concerns about long-term damage to the country's coffee crops, driving prices higher. Since April, below-average rainfall
Monthly publication of Canadian inflation data has shown not only rising inflation, but also higher than expected increases. Namely, markets expected prices increasing, but the pace is higher than forecast. Month-on-month inflation increase is 0.4% instead of the forecast 0.3%. Previous month, prices decreased by 0.4%. Median annual CPI is at 2.5% instead of forecast 2.4%. Prior data showed 2.3%.
The most recent publication of US Retail Sales data has caused a surge of the US Dollar. In general, the current data was mixed, but the revision of previous data caused the surge. Monthly retail sales volume was expected to increase 0.3%, but actual increase is 0.4%. However, this increase was offset by the fact that the Core Retail
The monthly UK GDP data has surprised the markets by revealing that the UK economy has shrunk. Namely, the GDP has decreased by 0.1% instead of growing by 0.2%. The GBP declined after the news. However, the decline ended after three hours and losses were recovered by midday. The main reason for the recovery is the fact that the
It was reported yesterday: "The US Dollar strengthened on Wednesday due to the US Consumer Price Index increasing from 2.4% up to 2.6% on an annual basis. This dataset indicates that the US Federal Reserve might have cut interest rates by too much and too early in September." On Thursday, the publication of the US Producer Price Index showed
The US Dollar strengthened on Wednesday due to the US Consumer Price Index increasing from 2.4% up to 2.6% on an annual basis. This dataset indicates that the US Federal Reserve might have cut interest rates by too much and too early in September. In the meantime, month on month CPI showed an increase of 0.2%. Moreover, the Core
Bitcoin has surged past $85,000, hitting a new all-time high following the US election results and after news that Charles Hoskinson will be joining the U.S. government to participate in implementation of crypto policy in the United States. The rally reflects growing confidence in the potential for clearer regulatory frameworks to benefit the industry. The bullish momentum points to the
The US Federal Reserve cut interest rates at 19:00 GMT on Thursday. The central bank reduced the base rate, as expected, by 0.25%. The current rate stands at 4.75%. The US Dollar surged on the news, as there were prior speculations that the Fed might cut 0.50%. The lesser cut revealed that there will be more demand for the USD
At 12:00 GMT, Bank of England in its Monetary Policy Committee has decided to cut interest rates. GBP/USD rate is reacting to the upside. As forecasted, official Bank rate of the GBP has been reduced by 0.25%. New rate is at 4.75%. Predictable monetary policy from the BoE is a good signal for overall economic environment in the UK. Monetary
The monthly US Employment data has been published. In general, the data revealed almost no job creation in the USA, which caused a drop of the Dollar. Average Hourly Earnings were expected to show an increase of 0.3%. Actual raises were 0.4%. Non-Farm Employment Change was forecast to show 106,000 new jobs added to the US labour market. The market
At 14:00 GMT, two data sets were released that conflict with one another. The US JOLTS Job Openings disappointed, but the CB Consumer Confidence surprised the markets. However, it appears that JOLTS rule the market, as the US Dollar dropped on the announcement. Job Openings and Labor Turnover Survey (JOLTS) revealed that there are 7.44 million jobs available in
Crude oil price benchmarks started the week by dropping more than 6.00%. By 09:00 GMT, US Crude Oil Price was down by 6.34%, UK Brent Oil was down 6.02%. The decline was attributed to the limited Israeli attack on Iran. The markets appear to have expected an escalation and surge in oil prices.
The publication of the Canadian Retail Sales data has caused an increase of volatility for the Canadian currency. The Canadian Dollar spiked up, before starting a decline. Market consensus forecast for the Canadian Retail Sales was that the sales would have increased by 0.5%, but actual released numbers showed growth of 0.4%. Meanwhile, the Core Retail Sales, that exclude
The Bank of Canada has cut its base interest rate from 4.25% down to 3.75%. The central banker decision was already expected by the markets, as it was known beforehand to the public that a cut was incoming. Due to this reason, the market reaction was muted, as the USD/CAD moved just 20 base points in the 30 minutes
The market consensus forecast for the UK Retail Sales was that the sales would show a decline of -0.4% on a month-on-month basis. However, analysts were surprised that the data revealed an increase of 0.3%. The news caused a surge of the Pound against peer currencies. During the surge, the GBP/USD currency pair jumped 47 base points, or 0.36%.
The US Dollar has surged due to the publication of the US Retail Sales data for September. In general, sales have grown more than expected, which caused a surge of the Dollar index. Month-on-month retail sales have increased by 0.4% instead of forecast 0.3%. Meanwhile, the Core Retail Sales that exclude auto sales have grown by a staggering 0.5% instead
On the 17th of October, the European Central Bank has decided to cut its Main Refinancing Rate, which is the base rate for all Euro debt. The rate has been reduced from 3.65% to 3.40%, as expected by market analysts. The bank has been cutting rates, as most recent inflation data indicates that Euro Zone inflation has returned to the
On Wednesday morning, at 06:00 GMT, the UK CPI was published. In general, inflation in the UK is a lot lower than expected. Monthly inflation measured year-on-year is just 1.7% instead of the expected 1.9%. Moreover, it is a decline from 2.2% in the prior month.
The publication of the US Producer Price Index has caused a minor increase in volatility. In general, the PPI showed a reading of 0.00% instead of 0.1%, which caused a minor dip of the US Dollar. In the meantime, the US Core Producer Price Index hit the market forecast reading of an increase of 0.2%.
The monthly US Consumer Price Index data has revealed that inflation in the USA is higher than expected. Dollar is trading with increased volatility. US CPI grew by 0.2% instead of 0.1%. Core CPI increased 0.3% not 0.2%. Annual inflation is 2.4% instead of expected 2.3%.