UK CPI today. UK is in a stagflationary economic environment. The market has already priced in a 25bps rate hike. If CPI came beat across the broad, it could not change their view. But CPI came with a miss, and you can see some GBP sell movements. #cpi#uk#forexeconomics
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S&P Global's Services PMI may decline, missing estimates for a 3rd straight time.
Investors fear a recession more than rate hikes.
A weak read could trigger safe-haven flows to the USD. #Forex#PMI#S&PGlobal #USD#recession
RBNZ set to raise rates for 12th time, UK & US inflation crucial, Germany's PMIs eyed.Will PMIs aid USD or rein in bulls? #Forex#RBNZ#UK#US#Germany#PMIs#Fed#May
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US Retail Sales poised for 0.7% rebound after March dip. Strong auto and fuel spending to uplift sales and US Dollar. Eyes on Biden-Congress meeting for debt ceiling discussions. #USRetailSales#USDebtCeiling#AutoIndustry#EconomicOutlook
US Retail Sales show modest growth in April, rising 0.4% to $686.1B, below expectations. Retail Sales ex-Autos also up 0.4% as predicted. Total sales for Feb-April 2023 up 3.1% YoY. #USRetailSales#EconomicData#ConsumerSpending
Market awaits US debt ceiling news for direction. US Dollar caught between rising equities and Treasury yields. XAU/USD continues recovery, uncertain about further gains. #USD#USDebtCeiling#Equities#Gold
AUD bounces back on stable commodity prices. Watch out for Reserve Bank of Australia minutes on Tuesday and employment report on Thursday. AUD/USD shows bullish bias, resistance at 0.6710. #AUD#RBA#employmentreport
The People's Bank of China extends liquidity, but global growth optimism remains low. US consumer sentiment drops, inflation expectations rise, and yields soar. Turkish elections hint at runoff. #PBoC#GlobalEconomy#USInflation#TurkishElections