Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
Wall Street Analysts Weigh in on Latest NFP Data 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
China's Refining Industry Faces Major Shakeup Amid Challenges 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
US Dollar Index
- Current Status: The US dollar index pared its gains despite strong US inflation data. It hit a low of 104.95 yesterday and is currently trading around 104.97.
- Recent Economic Data:
- US PPI: Rose 0.50% m/m in April, above the estimate of 0.30%.
- Annual Producer Price Index: Increased by 2.2% over the last year, the highest PPI reading since April 2023.
- Core PPI: Excluding food and energy costs, also rose by 0.50% vs. an estimate of 0.20%.
- CME Fed Watch Tool: The probability of a no-rate cut in June increased to 96.7% from 91.3% a week ago.
- Technical Levels:
- Resistance: 105.60 / 106.50
- Support: 104.50 / 103.80
Major Economic Data for the Week
- May 15th, 2024:
- US CPI and Retail Sales (12:30 pm GMT)
- Euro Flash GDP (9 am GMT)
EUR/USD
- Current Status: EUR/USD gained momentum after upbeat German ZEW sentiment. It hit a high of 1.08278 and is currently trading around 1.08234.
- Technical Levels:
- Resistance: 1.08650 / 1.0900
- Support: 1.0760 / 1.0700
USD/JPY
- Current Status: The pair consolidated in a narrow range ahead of the US CPI data. Any break above 157 confirms further bullishness.
- Technical Levels:
- Resistance: 157 / 158
- Support: 155 / 153.40
USD/CAD
- Current Status: The Canadian dollar trades higher despite weak crude oil prices. Any break below 1.3600 confirms further bearishness.
- Technical Levels:
- Resistance: 1.3700 / 1.3765
- Support: 1.3600 / 1.3535
