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5:19 AM · 17 May 2024

Morning wrap (17.05.2024)

EUR/USD
Forex
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  • Wall Street indices traded pulled back slightly from record highs yesterday. S&P 500 dropped 0.21%, Dow Jones ticked 0.10% lower and Nasdaq declined 0.26%. Small-cap Russell 2000 finished over 0.6% lower
  • Indices from Asia-Pacific trade mostly lower today - Nikkei drops 0.4%, S&P/ASX 200 declines 0.8%, Kospi slumps 0.9%, while Nifty 50 gains 0.3%. Indices from China trade mixed
  • DAX futures point to a lower opening of the European cash session today
  • Speaking on this week's inflation reading, Fed Bostic said that one data point is not a trend. Bostic is pleased with inflation progress but stresses that Fed is not there yet
  • Bank of America still expects first Fed rate cut to come in December, in spite of this week's inflation print
  • BoJ Governor Ueda said there are no immediate plans to sell Bank of Japan's ETF holdings
  • ECB Schnabel said that June meeting could be appropriate for a rate cut but the path afterwards is much more uncertain
  • According to Wall Street Journal report, Microsoft asked cloud-computing and AI operational staff to consider relocating outside of China amid tense US-China relations
  • Chinese industrial production increased 6.7% YoY in April (exp. 5.4% YoY), retail sales were 2.3% YoY higher (exp. 3.8% YoY) and urban investments climbed 4.2% YoY (exp. 4.6% YoY)
  • New Zealand's PPI inflation accelerated from 0.7% QoQ in Q4 2023 to 0.9% QoQ in Q1 2024
  • Major cryptocurrencies are trading slightly higher today - Bitcoin gains 0.1%, Ethereum trades 0.3% higher and Ripple adds 0.2%
  • Energy commodities trade slightly higher - oil gains 0.2%, while US natural gas prices climb 0.4%
  • Gold, silver and platinum gain around 0.1% today, while palladium drops 0.9%
  • USD and CAD are the best performing major currencies, while JPY and CHF lag the most
5 December 2025, 4:30 PM

3 markets to watch next week (05.12.2025)

5 December 2025, 1:32 PM

BREAKING: Lower Unemployment in Canada🍁USDCAD sharply declines📉

5 December 2025, 10:05 AM

BREAKING: Euro-zone GDP slightly above expectations!📈 EURUSD remains stable

5 December 2025, 7:01 AM

BREAKING: Germany industrial orders for October higher than expected; EURUSD gains 📌

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