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/USD: euro may update highs
2019-11-11 • Updated
Technical levels: support – 1.1670; resistance – 1.1720.
- Buy — 1.1680; SL — 1.1660; TP1 — 1.1720; TP2 – 1.1780.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with expanding channel Tenkan-Kijun; the prices are supported by Tenkan and Kijun and may goes higher.
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.
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