Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Stock Futures Dip as Investors Await Key Payrolls Data 
Wall Street Analysts Weigh in on Latest NFP Data 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
US Gas Market Poised for Supercycle: Bernstein Analysts 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
2025 Market Outlook: Key January Events to Watch 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Geopolitical Shocks That Could Reshape Financial Markets in 2025 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
The US dollar index lost its shine after the US CPI. It hit a low of 104.95 yesterday and is currently trading around 104.97.
The Consumer Price Index (CPI) rose 0.30% m/m in Apr from 0.40% the previous month, in line with the estimate. The annual CPI dropped by 0.10% points to 3.4%. This has reignited the chance of a rate cut by September.
According to the CME Fed watch tool, the probability of a no-rate cut in June increased to 97.3% from 91.3% a week ago.
Major resistance- 105.60/106.50
Major support- 104.50/103.80
Major economic data for the week
May 16th, 2024, US jobless claims, Building permits, Philly Fed Manufacturing Index (12:30 pm GMT)
EURUSD-
EURUSD gained momentum after dismal US retail sales. It came flat in Apr, below the estimate of 0.40%. Core retail sales rose 0.20% in Apr, in line with the estimate. It hit a high of 1.08949 when writing and is currently trading around 1.08861.
May 16th, 2024, ECB Financial Stability Review (8 am GMT)
Major resistance-1.0900,1.100
Major support- 1.0800,1.0720
Yen-
The pair declined sharply after soft US inflation data. Any break below 153.40 confirms further bearishness.
Major Resistance- 155,157
Major support- 153.40,152.
Canadian Dollar
The Canadian dollar shines despite weak Canadian manufacturing sales.It fell 2.1% in Apr, below the estimate of -2.4%. Any break below 1.3600 confirms further bearishness.
Resistance- 1.3660,1.3765
Major support- 1.3600,1.3535
