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Brazil Primary Budget Surplus below forecasts (-28.75B) in July: Actual (-30.279B)
260350 September 30, 2022 20:35 FXStreet Market News
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Brazil Nominal Budget Balance dipped from previous -22.498B to -65.907B in July
260349 September 30, 2022 20:35 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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US August PCE core inflation +0.6% m/m vs +0.5% expected
260348 September 30, 2022 20:33 Forexlive Latest News Market News
- PCE core MoM +0.6% vs +0.5% expected
- Prior MoM +0.1%
- Core PCE +4.9% y/y vs +4.7% expected
- Prior was 4.6% y/y
- Headline PCE +6.2% y/y vs +6.3% prior (revised to +6.4%)
- Deflator MoM +0.3% vs -0.1% prior
Consumer spending and income for August:
- Personal income +0.3% vs +0.3% expected. Prior month +0.2%
- Personal spending +0.4% vs +0.2% prior
- Real personal spending +0.1% vs +0.2% expected. Prior month +0.1%
Another hot inflation report is not going to be taken well. That said, the hot August CPI report is what kicked off the latest round of risk aversion so high prices in August isn’t exactly a shock.
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Breaking: US annual Core PCE inflation rises to 4.9% in August vs. 4.7% expected
260347 September 30, 2022 20:33 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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United States Core Personal Consumption Expenditures – Price Index (MoM) above expectations (0.5%) in August: Actual (0.6%)
260346 September 30, 2022 20:33 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
ForexLive European FX news wrap: Dollar firms, Eurozone inflation hits 10%
260344 September 30, 2022 20:02 Forexlive Latest News Market News
Headlines:
Markets:
- USD leads, NZD lags on the day
- European equtiies higher; S&P 500 futures up 0.1%
- US 10-year yields down 5 bps to 3.695%
- Gold up 0.2% to $1,663.33
- WTI crude down 0.1% to $81.15
- Bitcoin down 0.2% to $19,468
With month-end and quarter-end in focus, the market moves were scattered in European trading as the initial push and pull in the dollar eventually lead to the greenback now moving higher with early gains in stocks slowly dissipating. But the bid in bonds is staying the course as yields are dragged lower again, keeping the momentum after the BOE intervention earlier in the week.
In terms of data, Eurozone annual inflation hit double-digits coming in at a record 10% reading with the core reading also jumping to 4.8% – paving the way for the ECB to be more aggressive next month.
The pound was also in focus as Truss and Kwarteng met with the OBR but did not ask the fiscal body to alter its plans, suggesting that the government isn’t backing down from its economic plan. The quid was initially higher with cable moving up to 1.1235 before falling back down to 1.1030 now as dollar gains also factor into the equation amid volatile trading.
After some pushing and pulling early on, EUR/USD is settling lower being down 0.7% to 0.9740 – pushing back below its 200-hour moving average at 0.9759. That keeps the near-term bias more neutral now.
USD/JPY is little changed in general despite the dollar’s advance elsewhere, as buyers are still pensive in chasing a move too close to 145.00. Something, something Icarus flying too close to the Sun.
Against the commodity currencies, the dollar’s gains are more profound with USD/CAD up 0.5% to 1.3745 and AUD/USD down 0.6% to 0.6460 currently. That comes despite a slightly better appetite in the equities space, with stocks holding slight gains on the day. That said, the optimism has been watered down with S&P 500 futures now just up 0.1% after having been up by as much as 0.8% earlier.
Month-end and quarter-end trading will keep things a bit tricky before the weekend, alongside US PCE data and the UoM survey later on.
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India Infrastructure Output (YoY) came in at 3.3%, below expectations (7.5%) in August
260343 September 30, 2022 20:02 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
India FX Reserves, USD dipped from previous $545.65B to $537.52B in September 23
260342 September 30, 2022 19:33 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
EUR/USD downside momentum will likely return quickly – MUFG
260341 September 30, 2022 19:33 FXStreet Market News
There is a clear debate still ongoing over whether the European Central Bank (ECB) rate hike should match the September move of 75 bps or be reduced to 50 bps. In the latter case, the euro could come under further downward pressure, economists at MUFG Bank report.
Higher risks of conditions worsening in Europe
“If financial market conditions continue to worsen, there is every chance the ECB could revert back to a 50 bps hike.”
“We certainly see far higher risks of conditions worsening and hence EUR/USD downside momentum will likely return quickly.”
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OPEC+ talks said to narrow range of potential oil output cut to 0.5 to 1.0 mil bpd
260340 September 30, 2022 19:29 Forexlive Latest News Market News
Just a heads up that the meeting will take place on 5 October next week. And in all likelihood, the bloc is likely to lean towards a 1 mil bpd cut in production – at least that was the number floated around over the past week or so among OPEC+ watchers.
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EUR/JPY Price Analysis: Still scope for a move to 144.00
260339 September 30, 2022 19:29 FXStreet Market News
- EUR/JPY comes under some pressure and fades two daily gains in a row.
- There is still room for a potential rebound to the 144.00 region.
EUR/JPY seems to have met decent resistance around daily highs near 142.30 at the end of the week.
The continuation of the bounce off last week’s lows remains on the table in the very near term. That said, the cross could therefore extend the bullish attempt to the weekly top at 144.04 (September 20), which is deemed as the last defense for a move to the 2022 peak at 145.63 (September 12).
In the meantime, while above the key 200-day SMA at 135.84, the constructive outlook for the cross should remain unchanged.
EUR/JPY daily chart
