Global environment and strong US economy to support USD ========== The global environment and strong US economy are expected to support the USD. Global rates have risen as markets scale back expectations of rate cuts, aligning with the view that market pricing remains too aggressive on most G10 central banks. The US economy remains strong, supported by a tight labor market. Concerns about regional banks in the US have been reignited by the New York Community Bank incident. The war in the Middle East has continued, but the market impact has been limited. The USD has outperformed this year due to the repricing of global rate cuts and the underlying strength of the US economy. GBP has also benefited from a sharp repricing of the Bank of England and elevated inflation. The Scandies have faced headwinds, while JPY faces headwinds from a dovish Bank of Japan and higher global real rates. The outlook is for a stronger USD and weaker Scandies in the medium term. Risks to the forecast include a sharp drop in core inflation and a more resilient global economy. The publication is prepared by Danske Bank for information purposes only and is not an offer or solicitation to purchase or sell any financial instrument. #Usd #GlobalRates #UsEconomy #G10CentralBanks #LaborMarket #RegionalBanks #MiddleEast #Gbp #Scandies #Jpy #Inflation https://www.fxstreet.com/analysis/global-environment-and-strong-us-economy-to-support-usd-202402131410

Stock Market Today: Major indexes on track to open lower, eyes on US inflation data ========== S&P 500 futures are down 0.43%, Dow Jones futures drop 0.19%, and Nasdaq futures lose 0.77%. The Utilities Sector was the best-performing major sector in the S&P 500 on Monday, rising 1.14% on the day. V.F. Corp (VFC) rose 14% to $17.43 as the top gainer of the first trading day of the week. The Federal Reserve Bank of New York's latest Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation held steady at 3%. The US Bureau of Labor Statistics (BLS) will release January CPI data ahead of the opening bell on Tuesday. The headline annual CPI is forecast to rise 2.9% on a yearly basis, at a softer pace than December's 3.4%. The Core CPI is expected to increase 3.7%. Dallas Federal Reserve (Fed) Bank President Lorie Logan said that there is no urgency to cut interest rates. Airbnb Inc. (ABNB) and MGM Resorts International (MGM) are among top companies that will release earnings reports after the closing bell. January Retail Sales, Industrial Production, and Producer Price Index (PPI) data will be featured in the US economic calendar later in the week. #StockMarket #S&p500 #DowJones #Nasdaq #InflationData #UtilitiesSector #V.f.Corp #FederalReserveBankOfNewYork #UsBureauOfLaborStatistics #Cpi #DallasFederalReserveBank #AirbnbInc. #MgmResortsInternational #EarningsReports #RetailSales #IndustrialProduction #ProducerPriceIndex https://www.fxstreet.com/news/us-stocks-on-track-to-open-lower-eyes-on-us-inflation-data-202402131251

Australian Dollar depreciates despite improved Consumer Confidence, US Dollar remains calm ========== The Australian Dollar (AUD) retreats after posting gains in the previous two sessions, despite the release of improved Australia Consumer Confidence data on Tuesday. The Westpac-Melbourne Institute Consumer Sentiment index surged 6.2% to 86 in February from 81 in January, marking its highest reading in 20 months. However, the index remained below the neutral 100 mark since February 2022. The depreciation of the Australian Dollar is attributed to the moderation of Australian inflation, leading to speculation that the Reserve Bank of Australia (RBA) has completed its monetary tightening cycle. The US Dollar (USD) remains calm, with market sentiment mixed ahead of the release of important US inflation data scheduled for Tuesday. #AustralianDollar #UsDollar #ConsumerConfidence #Inflation #ReserveBankOfAustralia #MarketSentiment https://www.fxstreet.com/news/australian-dollar-depreciates-despite-improved-consumer-confidence-us-dollar-remains-calm-202402130147

Five fundamentals for the week: US CPI overtowers (almost) everything ========== The article discusses five key fundamentals for the week, focusing on the impact of the US Consumer Price Index (CPI) report on the market. The absence of Chinese traders due to the Lunar New Year holiday is expected to have a positive impact on markets. The US CPI data, including Core CPI MoM and headline CPI YoY, will be closely watched as it will affect various assets such as gold, equities, and the US dollar. UK inflation data is also expected to have a global impact. The US Retail Sales report and US Consumer Sentiment survey will provide further insights into the state of the US economy. #UsCpi #MarketImpact #ChineseHoliday #UkInflation #UsRetailSales #UsConsumerSentiment https://www.fxstreet.com/analysis/five-fundamentals-for-the-week-us-cpi-overtowers-almost-everything-202402121246

Gold price on February 12: Rates in main Indian cities ========== Gold prices fell in India on February 12, with the price standing at 62,147 Indian Rupees (INR) per 10 grams, down INR 240 compared to the previous day. Futures contracts for gold also decreased to INR 62,337 per 10 grams. Central banks are the biggest buyers of gold, with emerging economies such as China, India, and Turkey quickly increasing their gold reserves. Gold is seen as a safe-haven asset and a hedge against inflation and depreciating currencies. The price of gold is influenced by factors such as geopolitical instability, interest rates, and the strength of the US Dollar. #Gold #India #Price #Mcx #FuturesContracts #CentralBanks https://www.fxstreet.com/news/india-gold-price-today-gold-falls-according-to-mcx-data-202402120909