{"id":114640,"date":"2017-10-13T00:46:31","date_gmt":"2017-10-13T04:46:31","guid":{"rendered":"http:\/\/countingpips.com\/?p=114640"},"modified":"2018-06-01T15:55:37","modified_gmt":"2018-06-01T15:55:37","slug":"sharp-pound-rebound-on-2-year-brexit-transition-hints-us-inflation-data-in-focus-13-10-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/sharp-pound-rebound-on-2-year-brexit-transition-hints-us-inflation-data-in-focus-13-10-2017\/","title":{"rendered":"Sharp Pound Rebound on 2-Year Brexit Transition Hints, US Inflation Data in Focus 13-10-2017"},"content":{"rendered":"
October 13, 2017<\/div>
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By<\/b> Mexgroup.com<\/a><\/p>\n

Dollar Treads Water as Investors Await U.S. Inflation Data.\u00a0<\/strong>\u00a0The dollar index was steady at 93.083 in early Asian session on Friday, on track for weekly losses as investors awaited U.S. inflation data to gauge the likelihood that the Federal Reserve will stick to its plan to raise interest rates again this year.\u00a0 PPI released on Thursday showed some signs of inflation, at least at the producer level.\u00a0 In the 12 months through September, the PPI jumped 2.6 percent, the biggest gain since February 2012.\u00a0 Traders await CPI readings later in a day that will provide guidance on further path of inflation.<\/p>\n

Pound Reverses on Hints of 2-Year Brexit Transition Period.\u00a0<\/strong>\u00a0Sterling dipped to as low as 1.3122 on Thursday as markets saw the prospect of no deal being reached after chief Brexit negotiator Michel Barnier said negotiations between the two sides have effectively stalled and \u201cno concessions\u201d will be made.\u00a0 On the same day the pound had a reversal of fortune hitting a high of 1.3289 at the start of the U.S. session on reports the European Union are looking to offer the UK a two-year transition period.<\/p>\n

Gold Rally Pauses Ahead of U.S. Inflation Data.\u00a0\u00a0<\/strong>Gold prices were little changed amid a steady dollar on Friday, halting a five-day rally as investors wait for key U.S. inflation data for clues on the outlook for potential hikes in U.S. interest rates.\u00a0 Spot gold was nearly unchanged at $1,293.76 an after gaining for five straight sessions.\u00a0 U.S. gold futures for December delivery were flat at $1,296.10 per ounce.<\/p>\n

Oil Edges Up as Lower U.S. Production, Inventories Point to Tighter Market.<\/strong>\u00a0 U.S. crude inventories dropped 2.7 million barrels in the week to Oct. 6, to 462.22 million barrels, the EIA said late on Thursday.\u00a0 Crude production slipped 81,000 barrels per day (bpd) to 9.48 million bpd, its first fall since the week to Sept. 1.\u00a0 With the OPEC leading a production cut, analysts said that global oil markets were on a path to rebalancing after years of oversupply.\u00a0 U.S. WTI crude futures CLc1 were trading at $50.72 per barrel, up 0.1 percent from their last settlement, Brent crude futures LCOc1 were at $56.35, up 0.2 percent from the previous close.<\/p>\n

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12:30 pm GMT: USD Consumer Price Index\u00a0<\/strong><\/p>\n

12:30 pm GMT: USD Retail Sales<\/strong><\/p>\n

By MEX Group Team<\/strong><\/p>\n

The post Sharp Pound Rebound on 2-Year Brexit Transition Hints, US Inflation Data in Focus 13-10-2017<\/a> appeared first on mexgroupblog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Mexgroup.com Dollar Treads Water as Investors Await U.S. Inflation Data.\u00a0\u00a0The dollar index was steady at 93.083 in early Asian session on Friday, on track for weekly losses as investors awaited U.S. inflation data to gauge the likelihood that the Federal Reserve will stick to its plan to raise interest rates again this year.\u00a0 PPI […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-114640","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=114640"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114640\/revisions"}],"predecessor-version":[{"id":114641,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114640\/revisions\/114641"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}