Forex Innovation

U.S. Core Consumer Price Index (CPI) MoM

The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

Release Date Time Actual Forecast Previous
Dec 13, 2022 (Nov) 08:30 0.3% 0.3%
Nov 10, 2022 (Oct) 08:30 0.3% 0.5% 0.6%
Oct 13, 2022 (Sep) 07:30 0.6% 0.5% 0.6%
Sep 13, 2022 (Aug) 07:30 0.6% 0.3% 0.3%
Aug 10, 2022 (Jul) 07:30 0.3% 0.5% 0.7%
Jul 13, 2022 (Jun) 07:30 0.7% 0.6% 0.6%

Hello December!!!!

Christmas is coming...
A rewarding month for your hardworks...
You need to use it WISELY🤑🤑🤑

Learn how to grow it by investing
We are ready to teach you and guide you through it..
COMMENT HOW BELOW

Rouble rebounds vs dollar as Russian market reopens after long weekend......

MOSCOW (Reuters) - The rouble strengthened on Monday, belatedly responding to last Friday's dollar weakness as it pulled away from its lowest point since mid-October that was hit before the Russian market closed for a three-day weekend.

At 0741 GMT, the rouble was 0.9% stronger against the dollar at 61.53 and had gained 0.1% to trade at 60.95 versus the euro. It had shed 0.6% against the yuan to 8.45.

Better-than-expected U.S. jobs data saw the dollar fall on Friday, when the Russian market was closed. The positive rouble dynamics on Monday morning were a reaction to that, said Banki.ru chief analyst Bogdan Zvarich in a note.

He said the rouble would likely consolidate in the 61.5-62 range for most of the session.

The rouble is the world's best-performing currency this year, supported by capital controls and an initial collapse in imports as a result of Western sanctions on Russia over its actions in Ukraine, and scores of foreign companies pausing operations in the country.

The range at which the rouble trades in November could widen as imports could recover further, but high prices of Russian exports promise considerable foreign currency inflows, Otkritie Research said.

Brent crude oil, a global benchmark for Russia's main export, which hit a more than two-month high in the previous session, was down 1.3% at $97.3 a barrel.

"The Russian market is set for a neutral opening, though crude has every chance to drive the market higher," said BCS Global Markets in a note.

Stocks opened higher, returning towards the around six-weeks highs seen last week, after a one-session blip.

The dollar-denominated RTS index was up 1.8% to 1,114.0 points. The rouble-based MOEX Russian index was 0.9% lower at 2,176.2 points.

Let's place now ......

The U.S. dollar drifted below a one-year high versus major peers on Tuesday as traders waited on key U.S. payrolls data at the end of the week for clues on the timing of a tapering of Federal Reserve stimulus and the start of interest rate hikes.

Friday's nonfarm payrolls data is expected to show continued improvement in the labour market, with a forecast for 488,000 jobs to have been added in September, according to a Reuters poll - enough to keep the Fed on course to begin tapering before year's end.

On Aug. 19, the second-largest mortgage lender in the U.S., UWM Holdings, announced it would start accepting Bitcoin for home loans. The adoption could take effect by the end of the third quarter, and the company is also considering adding other cryptocurrencies like Ethereum into the mix.

Bitcoin recently neared $50,000 as it continues to rebound after months of weakness.

The world’s largest digital currency by market value rose to $49,821 on Saturday afternoon in New York, according to data from Coinbase. It was trading at a price of $48,876 as of 10 a.m. ET on Sunday.

The recovery comes after Bitcoin was trading at a price between roughly $30,000 and $40,000 over the last several months. It had dropped from a record of almost $65,000 in mid-April.

PayPal will let British customers buy, hold and sell digital currencies, starting this week.

It marks the first international expansion of PayPal’s crypto product since it launched in the U.S. last year.

PayPal is one of many firms taking a leap into the mostly unregulated world of cryptocurrencies.

To learn more on markets update click the link below
https://bit.ly/3ASsu4w