US PPI in Focus Today

In the US, particular attention will be on today’s PPI numbers in the wake of last week’s positive reaction to the lower-than-expected CPI. In recent months PPI has tended to act as a leading indicator, although there was a spike in June, the general trend has been a gradual decline in prices since the end of Q1. Final demand PPI is expected to slip back to 8.3% from 8.5%, while core PPI excluding food and energy is expected to remain steady at 7.2%.

EURUSD – Failed to push above the August highs at 1.0370, with the 200-day SMA the next key resistance at 1.0430.

GBPUSD – Slipped back from the 1.1855 area but remains in the uptrend from the September lows.

EURGBP – Failed at the 0.8820/30 area yesterday, with support still at or around the 0.8690 area.

USDJPY – Squeezed all the way back to 140.80 yesterday, after finding support at the 138.40/50 area.

Tuesday 15^th November 2022 – High Impact Events

Times below are GMT+2

12.00 – Europe – German ZEW Economic Sentiment

Potential instruments to Trade: EUR Crosses.

15.30 – US – Empire State Manufacturing Index & PPI m/m

Potential instruments to Trade: USD Crosses.

Day 1 – G20 Meetings

Potential instruments to Trade: All Crosses.

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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