The US Data beats expectations. Double Top on the smaller charts As we discussed before: Triangle Pattern on the bigger charts As described in the chart
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The U.S. Housing Data and Initial Jobless Claims come above the expectations.
Fed’s Kashkari is crossing the wires saying that he is not sure that cutting rates would do much to inflation expectations:
Would need to see data showing real economic weakness before cutting rates. Tariffs could boost inflation temporarily. An unexpected rise in wages could help get inflation back to symmetric 2% target.
EURUSD breaks the triangle. The pattern is a bearish continuation pattern.
USD remains to be the strongest currency in the basket.
USD Bulls will try to break 1.11650 Support. Breakout of this level would send the pair 1.11400, 1.11200 and 1.10900.