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.
Will EUR/USD reach 1.17?
2019-11-11 • Updated
TP1 1.1640 TP2 1.1695 TP3 1.1755
On the daily chart, EUR/USD bulls are trying to keep the pair above 1.1445 (50% of the long-term bullish wave). If they succeed, the pair will get a chance to form a senior “Shark” pattern. On the other hand, a break of support and the following decline to August low will trigger AB=CD with the target at 200%.
On H1, if EUR/USD exits the downtrend channel and tests resistance at 1.1540, bulls will be able to counterattack and form “Three Indians” pattern and the “Shark”.
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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Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.