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.
EUR/GBP: bears prepare a trap
2019-11-11 • Updated
SELL 0.882 SL 0.8875 TP1 0.8735 TP2 0.867 TP3 0.845
SELL 0.8855 SL 0.891 TP1 0.8755 TP2 0.867 TP3 0.845
On the daily chart, EUR/GBP keeps medium-term consolidation in the 0.8700-0.9015 range in line with the “Spike and ledge” pattern. A break of its lower border will create grounds for the decline to 200% of AB=CD.
On H1, the “Shark” pattern is transforming into 5-0 after the pair reached 88.6% target of the former. Pullbacks towards 50% and 61.8% of the wave CD are usually used for selling.
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.
Emerging market countries, including the BRICS bloc, are expressing frustration with the US dollar's dominance in the global financial system. While there have been discussions about creating alternative currencies to challenge the dollar's dominance, no concrete proposals have emerged. Instead, these countries are considering expanding trade using their own currencies to reduce reliance on the dollar.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.