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 awaits volatility
2019-11-11 • Updated
SELL 1.6710; TP1 0.6665; TP2 0.6600; SL 0.6740
NZD/USD is about to experience a spike in volatility. Big moves may be triggered by the meeting of the Reserve Bank of New Zealand early on Wednesday.
Weekly and monthly timeframes show that NZD/USD has recently met long-term resistance and turned down. The pair is currently holding to the ultimate support at 1.6720 (100-day MA). The decline below this level will open the way down to 0.6665 (78.6% Fibo of the January advance, trendline support from September) and probably even 0.66 if we assume that the pair’s forming a “Shark” pattern.
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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