NEW YORK, New York – U.S. stocks were mixed again Tuesday despite a slightly lower inflation reading. The PPI (producer price index), which measures wholesale inflation, edged up 0.2 percent in December, according to a Bureau of Labor Statistics report released Tuesday. A panel of Dow Jones analysts had estimated a 0.4 percent rise.
More significantly will be the December CPI reading which is due out Wednesday.
“If CPI comes in hotter than expected, it would certainly be bad news for equity markets because it would imply that the Fed will indeed remain slower to lower interest rates,” Sam Stovall, chief investment strategist at CFRA Research told CNBC Tuesday.
Global FX Markets See Marginal Moves Higher by Most Major Currencies Tuesday
In Tuesday’s foreign exchange market, most major currency pairs posted slight gains against the US dollar, while some trended lower. Traders were mindful of ongoing geopolitical developments and economic data releases, which drove moderate moves throughout the day.
Euro / US dollar (EURUSD)
The euro climbed zero point sixty-one percent against the US dollar, settling at 1.0306.
US dollar / Japanese yen (USDJPY)
The U.S. dollar advanced zero point thirty percent against the Japanese yen, recahing 157.92. Concerns around potential policy shifts by the Bank of Japan contributed to some volatility, but the greenback ultimately remained on the front foot.
US dollar / Canadian dollar (USDCAD)
The loonie strengthened slightly, with the U.S. dollar slipping zero point twelve percent to end at 1.4359.
British pound / US dollar (GBPUSD)
The pound inched up zero point zero seven percent, finishing the session at 1.2205 against the U.S. dollar.
US dollar / Swiss franc (USDCHF)
The U.S. dollar lost ground against the Swiss franc, declining zero point forty-six percent to 0.9122.
Australian dollar / US dollar (AUDUSD)
The Australian dollar gained zero point twenty-two percent versus the dollar, last trading at around 0.6189.
New Zealand dollar / US dollar (NZDUSD)
The kiwi also strengthened, rising zero point thirty-three percent to 0.5600.
Overall, Tuesday’s session saw moderate moves across the board as traders weighed economic data releases and upcoming central bank decisions. With several key reports on the horizon, particularly Wednesday’s CPI reading for December, currency markets are likely to remain reactive to shifting global developments in the days ahead.
Global Stock Markets Wrap Up: Tuesday’s Close
Tuesday’s trading session saw mixed performances across key global indices, with several European and Asia-Pacific markets posting gains, while a few major benchmarks lost ground.
Market analysts attribute the day’s mixed results to ongoing global economic uncertainties and shifting investor sentiment. Nonetheless, several indices demonstrated resilience, particularly in Europe and parts of Asia, as traders look ahead to upcoming economic data releases and policy updates.
