The USD Is Dominating As Markets Await The US CPI

The USD Is Dominating As Markets Await The US CPI

Happy Tuesday, dear traders. Let's check the freshest news, moving the markets today!

  • Consensus Magazine says AI is killing venture capital interest in cryptocurrency, project funding has halved in a year, and liquidity is leaving the crypto market and going to AI funds.
  • If the US CPI exceeds the consensus forecast of 3.6%, speculation about another Fed rate hike will resume, which could become a driver for further strengthening of the dollar.
  • Bitcoin fell -2.6% yesterday on news that bankrupt FTX's $3.4 billion worth of crypto assets would be converted into fiat.
  • Tesla (TSLA) gained 10% yesterday. The price rose after Morgan Stanley raised its target price to $400.
  • Bloomberg says American consumers can no longer support the economy. Economists predict a collapse in 2024.
  • According to the Reuters agency, short interest in the USD fell to a three-month low. 
  • UK Claimant Count Change is way below expectations (0.9K vs. 17.1K). GBPUSD is plunging, losing 550 points. 
  • Apple will introduce new products today, including the iPhone 15 and the next-gen Apple Watch. The stock is down 13.5% from its ATH, so we can expect a modest upside if investors like the presentation.

GBPUSD outlook


GBPUSD is trending lower. Recently, the price has failed to break above the 1.2530 resistance area. Currently, 1.2450 is the nearest support. A breakout below this level will trigger a further decline to 1.2390. 



Inflation Risks Return To The Markets
Inflation Risks Return To The Markets

Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!

ECB Key Rate is in Focus
ECB Key Rate is in Focus

ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.

Latest news

Fed’s Rate Pause and UK Inflation Slows
Fed’s Rate Pause and UK Inflation Slows

Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.

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