|

Apple reveals products, US updates CPI and ECB decides [Video]

Last week ended on an ugly note, really, as the jobs data from the US revealed throughout the week was weak, but maybe not weak enough to tilt the Federal Reserve (Fed) expectations toward a clear direction. US yields fell and the equities fell, the USDJPY fell to the lowest levels since August meltdown.

And if it’s not enough, the data released in the earliest hours of this week pointed that the Japanese economy recovered slower-than-expected but that the price pressures remained higher than expected in Q2, and that inflation in China came in below estimates as well, not helping to relieve the growing tensions about China and its sputtering economy. The Nikkei index is down by more than 0.60% at the time of writing and China’s CSI 300 is down by more than 1%.

US crude fell 1.75% on the back of the mixed US jobs data on Friday, closed last week below the $70pb psychological level, copper futures remain below the 200-DMA. Good news is, US futures are in the positive, hinting that we could see a small rebound after last week’s heavy selloff as attention shifts to Apple’s product reveal, US CPI update and the European Central Bank (ECB) decision.

Author

Ipek Ozkardeskaya

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

More from Ipek Ozkardeskaya
Share:

Editor's Picks

EUR/USD makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.

Ripple Price Forecast: XRP sell-side pressure intensifies despite surge in addresses transacting on-chain 

Ripple (XRP) is edging lower around $1.36 at the time of writing on Wednesday, weighed down by low retail interest and macroeconomic uncertainty, which is accelerating risk-off sentiment.

US jobs data surprises to the upside, boosts stocks but pushes back Fed rate cut expectations

This was an unusual payrolls report for two reasons. Firstly, because it was released on  Wednesday, and secondly, because it included the 2025 revisions alongside the January NFP figure.

XRP sell-off deepens amid weak retail interest, risk-off sentiment

Ripple (XRP) is edging lower around $1.36 at the time of writing on Wednesday, weighed down by low retail interest and macroeconomic uncertainty, which is accelerating risk-off sentiment.