{"id":36204,"date":"2022-10-13T13:50:00","date_gmt":"2022-10-13T12:50:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=36204"},"modified":"2022-10-13T22:58:47","modified_gmt":"2022-10-13T21:58:47","slug":"midday-brief-september-inflation-print-in-focus","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/midday-brief-september-inflation-print-in-focus\/","title":{"rendered":"Midday Brief – September Inflation Print in Focus"},"content":{"rendered":"\t\t
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There was a strong risk appetite on the market as investors await US CPI data. The markets are in a wait-and-watch mode as inflation print is expected to peak, indicating a pivot in Fed monetary policy tightening. The federal budget balance is a key event on the US economic docket, which traders should watch out for. Oil markets hold a 3-day slump as slowdown concerns take centre stage. The German Inflation data surged increasing bets for a 75bps hike by the ECB at their next policy meeting.<\/p>

NZDUSD<\/a> advanced by +0.42% ahead of the US inflation print. The risk-sensitive New Zealand dollar surged higher as markets price in a Fed pivot as inflation reading is expected to drop in September. The US CPI YoY reading is expected to drop to 8.1% from a previous recording of 8.3%. Initial Jobless Claims are set to rise to 225K from 219K, a previous reading. The pair extended gains from the 0.5600 support and bulls may target the 0.5800 psychological level if near-term support continues to hold.<\/p>

GBPCHF<\/a> surged by +1.20% as volatility increased ahead of the BoE deadline. There is a fundamentally negative outlook on the pound as indicated by a drop in RICS House Price Balance to 32% from a previous reading of 51%. The BoE intervention has helped lift the pound in the near term. The CHF suffered losses as PPI YoY data missed expectations, dropping to 5.4% from 5.55%. The pair has near-term support at 1.0950 and upside gains are challenged by the 1.1250 level.<\/p>

EURJPY<\/a> soared by +0.20% post surge in German Inflation data. The German CPI data YoY for September rose to 10.0% from a previous reading of 7.9% while MoM data increased to 1.9% from 0.3%. The Japanese Yen remained on the back foot as traders are pricing in on the widening policy divergence between ECB and BoJ, as BoJ continues to maintain an ultra-loose policy stance. The pair extended a 3-day rally from the 141.00 support level and near-term targets are at the 144.00 high, a month high.<\/p>

European equities rallied on Thursday, with eyes on US inflation data. CAC40<\/a> rallied by +0.78% after bouncing off the 5775 support and near-term targets are at 5900 resistance. A break above that level could see bulls targeting the 6050 level. DAX<\/a> surged by +0.86% extending gains above 12100 and near-term barriers at the 12400 and 12600 levels. FTSE<\/a> rose by +0.23% and critical levels to watch are between 6800 support and 6900 resistance.<\/p>

US stock futures were higher as markets embrace a risk appetite tone ahead of US Jobs Data. S&P500<\/a> advanced by +0.41% steadily holding gains above the 3750 level and bulls could rally towards the 3650-resistance level. Nasdaq100<\/a> futures were up +0.23% from a 10750-support level and upside gains are capped by the 11000 psychological resistance. DJIA index<\/a> futures edged higher by +0.41% and price action is bound within the 29200 support and 29600 resistance.<\/p>

In commodities, oil gained as IEA warns OPEC+ production cuts could trigger another market rout. USWTI crude oil<\/a> futures rose by +0.34% after bulls found near-term support at the 86.000 level and upside gains are capped by 94.00 resistance. Brent<\/a> crude oil futures bounced off the 92.00 support by +0.50% and prices could seek the 98.00 high in the near term.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

There was a strong risk appetite on the market as investors await US CPI data. The markets are in a wait-and-watch mode as inflation print is expected to peak, indicating a pivot in Fed monetary policy tightening. The federal budget balance is a key event on the US economic docket, which traders should watch out […]<\/p>\n","protected":false},"author":4,"featured_media":25557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[58,64,29,301,101,53,601,193,67],"yoast_head":"\nMidday Brief - September Inflation Print in Focus - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/midday-brief-september-inflation-print-in-focus\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midday Brief - September Inflation Print in Focus Midday Brief - September Inflation Print in Focus\" \/>\n<meta property=\"og:description\" content=\"There was a strong risk appetite on the market as investors await US CPI data. 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