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: Kiwi sets new targets
2019-11-11 • Updated
Recommendation: BUY 0,7297 SL 0,7242 TP 0,7445.
On the NZD/USD daily chart, the correction has finished at the level 23,5% of the CD wave of the Shark patter. This is a signal of the bulls’ strength. If they manage to update June high, the target 88,6% will be no longer relevant; there will be another target 113%.
On the NZD/USD hourly chart, the quotes went beyond the limits of the triangle. New Zealand dollar tested the upper border of the consolidation in the Splash and ledge pattern on the basis of 1-2-3. Then, there was a rollback. Another test of the resistance at 0.7297 will increase the risks for the continuation of the rally.
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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