Analysts at Societe Generale They point to the US dollar pulling back early on Wednesday, ahead of key data releases.
The macroeconomic calendar picks up today
“The below forecast inflation data from France and Germany may not change the ECB’s policy tactics, but the rapidly falling prices will fuel hopes that inflation trends could improve more quickly in 2023. It is still early days, of course, and reports of rising food prices and accelerating wage growth could keep core inflation rates high.The reduction in energy gas bills in Germany will not be repeated next year. next month and it means that inflation will probably return to double digits in January.”
“Macro calendar picks up today with US ISM manufacturing, JOLTS job offers and FOMC Minutes. Following EUR/USD’s intraday plunge of 1.5% from yesterday’s high to low, buyers emerged in the overnight fall .”
“The dollar stages a broader pullback on rising values in Hong Kong and China. In addition to the correlation with risk assets, the reopening of the Chinese economy and the momentum of European trade may galvanize the gains of the single currency Today’s US macroeconomic releases and Friday’s NFP should offer a clearer view of whether the tactic of selling dollar rallies remains relevant or is losing its appeal. first. Last month, the FOMC raised the dot chart for the years 2023 to 2025, and interest rates will remain restrictive for the next three years.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
