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.
USD/SGD: a short-term idea
2019-11-11 • Updated
SELL 1.3628; TP 1.3598; SL 1.3638
Looking for a way to bet on the weaker USD, we have considered several currency pairs but the one that came to our attention was USD/SGD.
The pair has already made a significant decline this week and is now testing the 50-week MA at 1.3650. Still, it does have the potential to move more. On D1, it’s trying to get below the 50-day MA at 1.3630 and 50% Fibo of the March-May advance. If it succeeds, the targets will lie at 61.8% Fibo (1.3597) and 100-day MA (1.3585).
A return at least above 1.3665 is needed to improve the short-term technical picture.
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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