Turkey cuts rate despite inflation threat, Japanese inflation hits 41-year high
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US stocks had a wobbling trading session yesterday. US equities gained, then lost, then rebounded to close the session in the green.
Nvidia
The 14% jump in Nvidia certainly helped improve the overall market mood, whereas the US economic data was mixed and was not supposed to pour water on the equity bears or improve sentiment regarding the Federal Reserve (Fed) hawks.
US economy
The latest GDP update from the US revealed that the US economy expanded slower than expected, while prices rose faster-than-expected.
We have one more important data point to watch before the week ends… and that’s the US PCE index, the Fed’s favourite gauge of inflation. Given the previous inflation data, we know that inflation has certainly eased, but not as much as expected.
Eurozone
Across the Atlantic Ocean, the European stocks gained and the euro fell on Thursday, even though the latest inflation data from the eurozone revealed that the core inflation advanced to a record high.
Japan
While the data released this morning showed that inflation in Japan rose to 4.3%, a 41-year high, and gave a rapid boost to the yen, sending the USDJPY down to the 134 mark.
Watch the full episode to find out more!
- 0:00 Intro
- 0:35 Mixed reaction to mixed data
- 3:55 Watch US PCE index today!
- 5:40 European stocks up, euro down after record core CPI. Why?!
- 7:38 Japanese inflation hits 41-year high
- 8:25 Turkey cuts rate despite inflation threat
Ipek Ozkardeskaya
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
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