CPI, PPI, BOE, OIL, GOLD, FOREX, USD, Indices & Crypto | Weekly Market Wrap with Joe Jeffriess
Mainly risk markets took a breather this week, despite CPI and PPI data coming in lower than expected. CPI Y/Y dropped to 4.9% and, while high, continues the trend of better figures. Traders are speculating if we might now see a hold from the Fed in the next meeting.
You might have thought that the USD may have fallen, but that wasn’t the case as it rallied into the end of the week. Is the debt ceiling now significant thought in the minds of traders? Gold and Oil continued lower this week, as did Crypto, as it looks like a shell of its former self. Trends in the market remain intact, and we wonder if we are seeing a minor correction.
Quite a few ranges remained this week, but some tests of the bottoms have been seen. The Nasdaq was one of the better-performing main stock indexes holding its break out of resistance, hitting new yearly highs.
Weekly Wrap Analysis Video
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