Daily summary: US retail sales boost greenback

• European indices finished today's session higher, with DAX up 0.82% and  French CAC 40 index rose 1.21% to close at 7,301, the highest since January's 2022 record high, outperforming its European peers. 

• The British FTSE 100 jumped to a new record high of 8,000 points, driven by gains in the consumer discretionary, industrials, and technology sectors. 

• UK annual inflation rate fell for the third month in a row to 10.1% in January, below analysts’ estimates of 10.3%. 

• ECB president Lagarde still intends to raise rates by 50bp in March

• Major Wall Street indices moved lower after publication of latest retail sales figures, however managed to erase most losses later in the session. Dow Jones currently trades 0.305 lower, S&P 500 fell 0.15%, while Nasdaq gains 0.20%

• The Commerce Department report showed retail sales rebounded 3% in January, the sharpest one-month increase since March 2021, in the latest sign of consumer resilience and complicating the Federal Reserve's task to cool the economy. 

• Deutsche bank lifted the US terminal rate forecast to 5.6% from 5.1%, with two extra 25 bps hikes in June and July.

• Roblox and Airbnb shares  rose 24% and 11.0% respectively on upbeat quarterly results.

• Oil prices fell 1.0% as a fresh EIA report showed  that US crude inventories jumped by a massive 16.283 million barrels to 842.973 million last week, the highest level since early October.

• Precious metals extend recent losses amid a strong dollar. Gold fell to a six week low and is moving towards support at $1830, while silver briefly fell below support at $21.50. 

• The dollar strengthened sharply against a basket of major currencies, with the most pronounced buying activity against the pound and antipodean currencies. Despite dollar strength, EURUSD pair manages to stay above the crucial support zone around 1.0660- 1.0670.

• Dollar index broke above 104 for the first time since early January, as  latest inflation and retail sales data threw some cold water on expectations for the ending of the Fed's tightening campaign. 

• Major cryptocurrencies rose sharply. Bitcoin jumped over 3.0% and broke above $22,900 mark, while Ethereum gains nearly 3.0% and if current sentiment  prevails upward move may accelerate towards resistance at $1600.

USDJPY pair finally pushed above crucial resistance at 133.00 and is currently at its highest level since early January. If buyers manage to uphold recent momentum, upward move may extend towards next major resistance at 137.50. Source: xStation5