• English
  • Deutsch (German)
de
Become a Member
Notification Show More
Latest News
Analyst Calls: Nvidia 🟢, Salesforce 🟢, Snowflake 🟢 etc.
Analyst Rating Updates
Diageo (DGE)
Stocks
BP (BP)
Stocks
PCE data in line with expectations; Rate cut optimism remains intact
Daily updates
Unilever (ULVR)
Stocks
Aa
By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartTraderSmartTrader
  • Markets
    • Indices
      • S&P 500
      • Nasdaq 100
      • Dow Jones
    • Stocks
      • Alphabet (GOOGL)
      • Amazon (AAPL)
      • Apple (AAPL)
      • ExxonMobil (XOM)
      • JPMorgan (JPM)
      • Meta Platforms (META)
      • Microsoft (MSFT)
      • Netflix (NFLX)
      • Nvidia (NVDA)
      • Tesla (TSLA)
  • Analysis
    • Daily Updates
    • Daily Markets Wrap
    • Analyst Rating Updates
  • Brokers
  • Trading
    • Economic calendar
    • Glossary
  • Track Record
    • August 2023
    • September 2023
    • October 2023
  • Campaign
    • Stronger together
    • Track your progress
    • Rewards and Milestones
  • Join Us
    • VIP membership
    • Membership
    • Account
  • About us
    • About company
    • About Robert Lindner
Reading: Eased CN travel restrictions lifts mood, but all eyes on US CPI
Share
Aa
SmartTraderSmartTrader
Sign Up
Search
  • Markets
    • Indices
    • Stocks
  • Analysis
    • Daily Updates
    • Daily Markets Wrap
    • Analyst Rating Updates
  • Brokers
  • Trading
    • Economic calendar
    • Glossary
  • Track Record
    • August 2023
    • September 2023
    • October 2023
  • Campaign
    • Stronger together
    • Track your progress
    • Rewards and Milestones
  • Join Us
    • VIP membership
    • Membership
    • Account
  • About us
    • About company
    • About Robert Lindner
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.

JOIN US

×
Free Membership
VIP Membership
SmartTrader > Daily updates > Eased CN travel restrictions lifts mood, but all eyes on US CPI
Daily updates

Eased CN travel restrictions lifts mood, but all eyes on US CPI

Robert Lindner
Robert Lindner August 10, 2023 4 Min Read
Share
SHARE

Markets, particularly in Europe, started the day on a positive note as they hoped businesses will benefit from an increase in Chinese tourism spending – luxury goods in particular rose as Chinese buyers account for around 25% of European luxury goods sales, including purchases by tourists. Chinese can now travel more easily again. In pre-market U.S. trading, Wall Street is little changed and moving sideways ahead of the most important and highly anticipated U.S. consumer price report (12:30 UTC+0) this week.

The report on U.S. consumer prices will be crucial for investors to determine whether the Fed will not raise interest rates further. Analysts expect the inflation data to underscore the picture of disinflation, with core prices in particular showing signs of cooling. I think the most likely reading is similar to June's, but I give the report a 33% chance of coming in higher than expected – specifically, inflation or core inflation may have risen 0.3% m-o-m, rather than the expected 0.2% for both inflation measures.

The risk of increased volatility and profit taking is relatively high, although I generally expect U.S. equities to remain resilient as the outlook for macroeconomic conditions remains positive. I also do not expect the Fed to raise interest rates another time, but to leave them at current levels for longer. Nevertheless, the upside potential for equities is very limited after the record performance in the first half of the year.

One risk factor for inflation is rising energy prices. In Asian trading, oil prices hit their highest level in nearly nine months, with WTI above $84 a barrel after rising 3% in the previous two sessions. CPI data from the U.S. will also have a strong impact on oil prices. Oil prices remain bullish and look to move towards $90.00 before the end of this quarter or early in the fourth quarter.

The USD remains supported overall on the expectation that the Fed can and will keep rates high for longer. The Consumer Price Index will determine how the USD trades for the rest of the week and even August. I expect disinflation to slow, which would keep USD demand up a bit longer and push US Treasury yields higher.

👁 ROB'S MARKET OVERVIEW:

Today's movements are depended on US CPI data. We believe that disinflation slowed down and that concerns about inflation becoming more stubborn is rising in the process.

August 10, 2023

🇺🇸 US Markets ↕️/↘️ (only if disinflation slowed down or inflation even accelerated – otherwise ↗️)
Energy Stocks ↕️/↗️

💱 Forex (completely US CPI data driven today)
USD ↕️/↗️ (only if disinflation slowed down or inflation even accelerated – otherwise ↘️)
EUR, CAD ➡️/↗️
AUD ➡️/↗️ (gains limited after positive performance during Asian trading)
GBP, CHF ➡️
JPY ↘️

⚒ Commodity Markets ↕️
Oil prices ↕️/↗️
Natural Gas prices ↕️
Metal prices ↕️
Precious Metal prices ↕️/↘️ (only if disinflation slowed down or inflation even accelerated – otherwise ↗️)

⚡️Cryptos ↕️ (Optimism increases with PayPal's stablecoin, possible positive SEC regulations).

(*↗️ bullish, ↘️ bearish, ➡️ sideways / stable, ↕️ mixed / volatile)

Yours, Robert

Robert Lindner August 10, 2023
Share this Article
Facebook Twitter Email Print
Previous Article Asia remains mixed; European & US equities start positively ahead of important inflation data
Next Article Analyst Rating Updates: Disney 🟢, Nvidia 🟢, Tesla 🟡 etc.
Leave a comment

Leave a Reply Cancel reply

You must be logged in to post a comment.

SmartTrader
SCIS

Risk Warning: Trading in Forex/CFDs and Other Derivatives is highly speculative and carries a high level of risk. Results are not typical and will vary from person to person. Making money trading takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. All the information are only for educational purpose and are no investment advice. Any investment is at your own risk. 74 %-89% of retail investor accounts lose money when trading CFDs with these providers. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The Valero Tower, 122 Valero
Makati, 1227 Metro Manila

Terms of Use
Privacy Policy

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Register Lost your password?