Where next for the dollar The currency market has been trying to sell the US dollar this week, though there hasn’t been all that much going on to necessarily support any sustained dollar weakness. Looking ahead, Wednesday features some UK data, US CPI and the Fed Minutes.
Peter Navarro on CNBC and Bloomberg Radio – There are doors open for trade talks with China He also said it’s debatable whether the tariff threat hurt markets. I’ll settle that debate: It did. Futures fell about 60 points in 30 minutes after Trump threatened tariffs on $100 billion in goods on Friday.
The latest in the oil market – EIA sees consumption up 20,000 bpd – Sees total consumption at 9.6 mbpd – Saudi crude oil production at 9.91 mbpd according to energy ministry Oil is having a strong day with WTI up $1.86 to $65.22 per barrel. It needs to get above $66.66 to break out.
ANZ collate traffic flow data for their Truckometer indicators, arguing it is a useful proxy for GDP growth There are two indicators, the ‘heavy’, which the headline
The private survey of inventories is due at 4.30pm NY time. It’ll hit media sources in the moments following.
The minister responsible for natural resources, Carr, speaking in Ottawa – Government 100% behind trans-mountain pipeline – Prepared to look at many options on pipeline One for the oil people.
2200GMT – New Zealand – ANZ Truckometer for March 2230GMT – Fed’s Bostic to speak – the event is on houisng so there may not be a lot on his economic views nor policy. We’ll soon find out.
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The CPI report is due on Wednesday The US consumer price index report for March is due at 8:30 am ET on Wednesday. While trade concerns are dominating markets at the moment, the Fed remains preoccupied with solving the inflation puzzle. Although the Fed prefers the PCE inflation benchmark, CPI is also a key input.…
Some very early levels info to note for the session ahead after the good support for it following Xi’s speech on Tuesday Resistance – 0.7760/70 … i.e. where we are now …. selling to be done Support: