{"id":45508,"date":"2023-05-16T17:25:00","date_gmt":"2023-05-16T16:25:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=45508"},"modified":"2023-05-17T00:29:27","modified_gmt":"2023-05-16T23:29:27","slug":"market-wrap-traders-await-debt-ceiling-news","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-traders-await-debt-ceiling-news\/","title":{"rendered":"Market Wrap &#8211; Traders Await Debt Ceiling News"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"45508\" class=\"elementor elementor-45508\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9c08bcc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9c08bcc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6d13a10\" data-id=\"6d13a10\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a775e2a elementor-widget elementor-widget-text-editor\" data-id=\"a775e2a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The market mood remained tense as traders awaited news regarding the debt ceiling and specifically a meeting between the House Speaker and President Joe Biden later during the US session.<\/p><p>Volatility slightly increased with the <a href=\"https:\/\/bit.ly\/3UWGA07\" target=\"_blank\" rel=\"noopener\">VIX<\/a> expanding by around 1 percent, and FX remained volatile but also in a small trading range as the debt ceiling news looms on the market.<\/p><p>Industrial production in the United States increased 0.2% year-on-year in April of 2023, following a downwardly revised 0.1% rise in March. The mining sector surged 5.6% while a decline was seen for manufacturing (-0.9%) and utilities (-0.4%)<\/p><p>Industrial production also increased 0.2% year-on-year in April of 2023, following a downwardly revised 0.1% rise in March. The mining sector surged 5.6% while a decline was seen for manufacturing (-0.9%) and utilities (-0.4%).<\/p><p>Hawkish comments from Mester aren&#8217;t a surprise in general but she&#8217;s openly advocating for another hike, and it comes just after a strong retail sales report. That&#8217;s flowing through to the dollar and helping to give it a lift.<\/p><p>Mester said \u201cI would like policy rate to get to a point where it could equally be a potential increase or decrease\u201d and \u201cI don&#8217;t put it in terms of a pause, I put it in terms of a hold.\u201d<\/p><p>He also gave a number \u201cI don&#8217;t think we&#8217;re at that hold rate yet\u201d and \u201cThere is four weeks to go until the next meeting, need to see more data\u201d.<\/p><p>Also we got Canadian inflation data, the annual inflation rate in Canada rose to 4.4% in April of 2023 from the 19-month low of 4.3% in the previous month, well above market expectations of 4.1% to reignite fears of a hawkish Bank of Canada.<\/p><p>Consumer prices soared as the central bank\u2019s tightening path lifted mortgage rate costs (28.5% vs 26.4%) and rent prices (6.1% vs 5.3%). The CPI also accelerated for transportation (1.3% vs 0.3%), as OPEC\u2019s <a href=\"https:\/\/bit.ly\/3H2rbps\" target=\"_blank\" rel=\"noopener\">crude oil<\/a> output cut pinned energy costs at stubbornly high levels.<\/p><p>On the other hand, inflation fell for food (8.3% vs 8.9%) amid eased pressure from fresh vegetables, coffee, and tea. On a monthly basis, the Canadian CPI advanced by 0.7%, the most in six months.<\/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":"<p>The market mood remained tense as traders awaited news regarding the debt ceiling and specifically a meeting between the House Speaker and President Joe Biden later during the US session. Volatility slightly increased with the VIX expanding by around 1 percent, and FX remained volatile but also in a small trading range as the debt [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":45510,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[421,64,172,169],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - Traders Await Debt Ceiling News - 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\/market-wrap-traders-await-debt-ceiling-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - Traders Await Debt Ceiling News Market Wrap - Traders Await Debt Ceiling News\" \/>\n<meta property=\"og:description\" content=\"The market mood remained tense as traders awaited news regarding the debt ceiling and specifically a meeting between the House Speaker and President Joe Biden later during the US session.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-traders-await-debt-ceiling-news\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-16T16:25:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-16T23:29:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/05\/gettyimages-1027886480.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"471\" \/>\n\t<meta property=\"og:image:height\" content=\"456\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - Traders Await Debt Ceiling News Market Wrap - Traders Await Debt Ceiling News\" \/>\n<meta name=\"twitter:description\" content=\"The market mood remained tense as traders awaited news regarding the debt ceiling and specifically a meeting between the House Speaker and President Joe Biden later during the US session.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-traders-await-debt-ceiling-news\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-traders-await-debt-ceiling-news\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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