Markets ahead of the CPI Release

Markets ahead of the CPI Release

Good Wednesday, dear traders! Let’s look at the main news ahead of the main event that will shake the markets: the release of US CPI at 15:30 GMT+3! 

Main news

  • The United States will release the Inflation Rate today at 15:30 GMT+3. According to the forecasts, The headline US CPI will advance by 0.6%, while the core indicator will rise by 0.2%. Such an impressive increase may push the Fed towards more rate hikes. 
  • Yesterday, Apple introduced iPhone 15, and its shares fell by almost 2%. Device cameras have more megapixels and weigh 1 gram less, and it is also possible to send a satellite SOS signal in 14 countries. But the most important thing is that Apple has officially abandoned the Lightning connector and is switching its devices to USB Type-C.   
  • BBG CFTC says bullish bets on WTI oil from a hedge fund are the highest in 15 months. Meanwhile, BofA notes that the US Strategic Petroleum Reserve (SPR) is at a 40-year low, and oil prices are at a 10-month high. A new struggling cycle around oil prices starts. Oil price growth may push inflation higher again.
  • Tesla topped the list of the most shorted large-cap US stocks. At the end of August, this happened for the third month. Meanwhile, Tesla stocks made a large gap on September 11th. The price may try to close it by returning to $256.50.

EURUSD ahead of US CPI

The pair has been moving within the descending trading channel. Today, it has been hovering between the strong support at 1.06850 and the 50-period SMA. If the release exceeds expectations today, the pair will break the support at 1.0685 and target the next support at 1.0630. Otherwise, we will see a surge toward the resistance at the upper border of the descending channel at 1.0830. 




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