The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.
AUD/USD looks weak
2020-01-27 • Updated
AUD/USD is rushing to the downside. The pair broke through the most important daily moving averages, slipped below the support at 0.6830 (October-November support line). This week opened with a gap down at 0.6808 (61.8% Fibo of the October-December advance). The technical picture looks bearish, so market players will likely use the price's attempts to recover to the 0.6810/30 area for selling. The downside targets lie in the 0.6755/50 area ahead of 0.6670.
Trade idea for AUD/USD
SELL 0.6810; TP 0.6755; SL 0.6835
The odds of a final interest rate hike by the US Federal Reserve (Fed) this year have dropped after US job openings hit their lowest levels since early 2021. This has led to a correction in the US Dollar as traders reduced their bets on further rate hikes.
Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination.
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