US equity futures set for a modest bounce after yesterday's rout
13 May 2021
S&P 500 futures moderately higher
Futures:
Yesterday the S&P 500 tumbled 89 points to 4063 in the worst day since February. Futures had been flirting with further losses but have improved.
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Futures:
Yesterday the S&P 500 tumbled 89 points to 4063 in the worst day since February. Futures had been flirting with further losses but have improved.
The USDJPY stuck in a 30 pip range above support swing area
13 May 2021
Buyers have more control but buyers and sellers are battling it out
The USDJPY is stuck in a 30 pip trading range today after jobless claims and PPI failed to break the pair higher or lower.
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The USDJPY is stuck in a 30 pip trading range today after jobless claims and PPI failed to break the pair higher or lower.
EURUSD trades up and down above and below technical levels
13 May 2021
Market is unsure but tilting a little more to the upside
After falling sharply yesterday (eventually) after the stronger than expected CPI, the EURUSD is trading up and down with support ahead of its key 100 day moving average and resistance near the broken 38.2% retracement and the 1.2100 level. In between sets the 50% midpoint of the range from May at 1.20832
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After falling sharply yesterday (eventually) after the stronger than expected CPI, the EURUSD is trading up and down with support ahead of its key 100 day moving average and resistance near the broken 38.2% retracement and the 1.2100 level. In between sets the 50% midpoint of the range from May at 1.20832
US Initial jobless claims 473K versus 490K estimate
13 May 2021
Weekly US initial jobless claims and continuing claims
- initially reported at 498K revised to 507K
- Initial jobless claims 473K. The lowest reading since the start of the pandemic
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- initially reported at 498K revised to 507K
- Initial jobless claims 473K. The lowest reading since the start of the pandemic
US April PPI final demand +6.2% vs +5.9% expected
13 May 2021
April 2021 US producer price index data:
That's another upside miss on inflation. PPI is certainly second-fiddle to CPI but those cost pressures move down the chain.
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That's another upside miss on inflation. PPI is certainly second-fiddle to CPI but those cost pressures move down the chain.
The CHF is the strongest and the AUD is the weakest as NA traders enter for the day
13 May 2021
The USD is mixed ahead of the PPI and Initial claims data
The CHF is the strongest and the AUD is the weakest as NA traders enter for the day. The USD is mixed ahead of the US PPI data and the weekly initial and continuing claims. Fed's Barkin is on the schedule to be speaking
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The CHF is the strongest and the AUD is the weakest as NA traders enter for the day. The USD is mixed ahead of the US PPI data and the weekly initial and continuing claims. Fed's Barkin is on the schedule to be speaking
PPI and initial jobless claims are coming up next
13 May 2021
What's on the economic calendar
PPI isn't normally a market mover but given the market reaction to the surprise jump in CPI, it will make some waves. Moreover, when one of them miss the consensus, the other tends to miss in the same direction so we could see higher reading than the +5.8% headline and +3.8%
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PPI isn't normally a market mover but given the market reaction to the surprise jump in CPI, it will make some waves. Moreover, when one of them miss the consensus, the other tends to miss in the same direction so we could see higher reading than the +5.8% headline and +3.8%
ForexLive European FX news wrap: Dollar mixed, Bitcoin stays pressured
13 May 2021
Forex news from the European trading session - 13 May 2021
Headlines:
Markets:
- CHF leads, AUD lags on the day
- European equities lower; S&P 500 futures up 0.1%
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Headlines:
Markets:
- CHF leads, AUD lags on the day
- European equities lower; S&P 500 futures up 0.1%
Equities recover slightly ahead of North American trading
13 May 2021
S&P 500 futures up 0.1%
European indices have halved losses from earlier in the day but are still keeping roughly 1% lower across the board. This comes as US futures start to turn things around, with Nasdaq futures leading the bounce while S&P 500 futures inch a tad higher.
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European indices have halved losses from earlier in the day but are still keeping roughly 1% lower across the board. This comes as US futures start to turn things around, with Nasdaq futures leading the bounce while S&P 500 futures inch a tad higher.
A case of the déjà vu?
13 May 2021
US PPI data later today to set the tone ahead of North American trading
Yesterday, we got one of the hottest CPI reports in years and the inflation debate will continue on today with the release of US PPI data for April.
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Yesterday, we got one of the hottest CPI reports in years and the inflation debate will continue on today with the release of US PPI data for April.