Inflation slows down in Canada and Germany
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AUD/USD 🔼
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December’s readings for Canadian and German inflation have slowed, with Germany’s year-on-year inflation decreasing from 10.0% to 8.6%, and Canada’s month-on-month inflation turning negative from 0.1% to -0.3%. Later today, Mitrade expects the UK year-on-year inflation rate to come down from 10.7% to 10.5%.
Slower inflation then makes it more likely for respective central banks to reduce their rate hikes. Meanwhile, EUR/USD closed lower at 1.0788, GBP/USD rose over 90 pips to 1.2288, and AUD/USD climbed more than 30 pips to 0.6987. USD/CAD decreased 19 pips to 1.3388, and USD/JPY dropped 41 pips to 128.13.
WTI oil futures traded slightly higher to $80.45 a barrel, while spot gold retreated to $1,908.62 an ounce. Bitcoin surged past the $21,000 level, currently at $21,250.0.
The Dow plunged 391 points (-1.14%) to 33,910, the S&P slid 8 points (-0.20%) to 3,990, and the Nasdaq added 15 points (+0.14%) to 11,557.
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
USD/JPY 🔽
XAU 🔽
WTI 🔼
December’s readings for Canadian and German inflation have slowed, with Germany’s year-on-year inflation decreasing from 10.0% to 8.6%, and Canada’s month-on-month inflation turning negative from 0.1% to -0.3%. Later today, Mitrade expects the UK year-on-year inflation rate to come down from 10.7% to 10.5%.
Slower inflation then makes it more likely for respective central banks to reduce their rate hikes. Meanwhile, EUR/USD closed lower at 1.0788, GBP/USD rose over 90 pips to 1.2288, and AUD/USD climbed more than 30 pips to 0.6987. USD/CAD decreased 19 pips to 1.3388, and USD/JPY dropped 41 pips to 128.13.
WTI oil futures traded slightly higher to $80.45 a barrel, while spot gold retreated to $1,908.62 an ounce. Bitcoin surged past the $21,000 level, currently at $21,250.0.
The Dow plunged 391 points (-1.14%) to 33,910, the S&P slid 8 points (-0.20%) to 3,990, and the Nasdaq added 15 points (+0.14%) to 11,557.
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