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.
NZD/USD: a downtrend may resume
2019-11-11 • Updated
TP1 0.6480 TP2 0.6400 TP3 0.6370
On the daily chart, NZD/USD reached 224% target of junior AB=CD and bulls are trying to counterattack. Their goal is to push the pair above 0.6710 and return the pair inside the previous consolidation range of 0.6710-0.6850.
On H1, NZD/USD triggered a “Crab” pattern with a target at 88.6%. The odds of advance to it are lower than of a return to support at 0.6580. A decline below it will make the resumption of the downtrend more likely.
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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