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 got disappointed
2019-11-11 • Updated
TP1 0.6565 TP2 0.652 TP3 0.643
On the daily chart, NZD/USD keeps forming a “Head and shoulders” and AB=CD with a target at 161.8%. A pullback from the lower border of the previous consolidation range of 0.6710-0.6850 and the upper border of the downtrend channel was a basis for bears’ attack.
On H1 of NZD/USD, the closeness of 88.6% target of the “Shark” make sit dangerous to sell at the current levels. There’s more sense to sell on the pullback from resistance at 0.6625-0.6640.
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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