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/ZAR is still in a range
2019-11-11 • Updated
SELL 15.05; TP1 14.95; TP2 14.80; SL 15.08
BUY 15.21; TP1 15.27; TP2 15.40; SL 15.18
Pay attention to the currency pair USD/ZAR. It has been consolidating between 15.10 and 15.50 since the start of August. All in all, the pair is in the area of resistance that limited the advance during the last few years. In the recent sessions, the pair has moved closer to breaking to the downside. The Awesome Oscillator on the D1 is falling. Moving Averages made a negative intersection on H4. The decline below 15.05 will open the way down towards 14.80. On the upside, the return above 15.20 is needed to allow the pair to recover to 15.27 (MAs on H4) and 15.40 (top of the sideways range).
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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