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Eightcap Trade Zone Weekly Market Wrap | CPI, PPI, RS, RBA, Forex, Indices, Gold, Crypto, & more

Published: 17.02.2023
by Joseph Jeffriess

Welcome to this week’s wrap-up traders. Instead of focusing on one market, in today’s video, we take a look at Consumer Price Index (CPI), Producer Price Index (PPI), Retail Sales (RS), and the Reserve Bank of Australia (RBA). As well as analysis of assets in Forex, Stocks, Indices, Oil, Gold, and Cryptocurrencies.

Hi everyone. Thanks for checking out this week’s weekly wrap. Well, the week finished on an interesting note after the PPI came in hotter than expected and sent stocks lower and the USD higher. Combined with Fed member comments, has this set some direction?

Earlier in the week, we saw the CPI come in hotter, and so did retail sales. One may have thought we would have seen selling after that news on risk markets, but it wasn’t the case. We saw rises, and after retail sales, US indexes moved higher with the USD.

This was a bit of a surprise, but it didn’t last long, enter Thursday and today, it looks like sellers have control. The AUD has seen a double hit with a stronger USD and RBA comments hitting the currency. Australia’s jobs data missed quite badly, and this has now put some pressure on the RBAs policy around rate rises.

Inflation looks to be back on the agenda now, and it’s not just stocks and risk currencies feeling the pinch. Gold has seen 2.22% taken off, and cryptos, which saw some excellent gains this week, are seeing some seeing today. Bitcoin hit 25,250 yesterday before sellers came in, taking price back down to 23,332 today.

Looking at next week, fed policy is back in focus, and the minutes could be an important one. We also have the PCE price index, which could add to what started to happen this week if it also comes in higher. UK services and manufacturing PMI data is another to watch as the UK economy continues to struggle.

Weekly Wrap Video

Have a fantastic weekend.

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