EURUSD To Potentially Fall After US Core CPI Spike
The result of today's US Core Cpi data both monthly and yearly:
(Core CPI (MoM) (Jul)
Act: 0.3% Cons: 0.5% Prev.: 0.7%-
Core CPI (YoY) (Jul)
Act: 5.9% Cons: 6.1% Prev.: 5.9%)
showed a strong sentiment of bearishness in regards to the US dollar. Monthly data showed decreasing inflation from the previous month's data and also was less than expected. Yearly data showed inflation flattening out and also was less than expectations. Across the whole foreign exchange market and main pairs the dollar fell short. There are some good opportunities today for a day trade for pairs such as EURUSD, GBPUSD, AUDUSD, NZUUSD shorts, and USDJPY, USDCHF, USDCAD long positions. There should be a market correction after the big US dollar sell off. I will be looking for a 4 hour short on EURUSD and long for USDJPY soon, along with the other currency pairs mentioned.
In regards to the stock market, the S&P500 and NDX100 saw big gains and should continue to see bullishness with inflation decreasing. This is beneficial for the stock market. Meta saw shares rise today increasingly. $EUR/USD$ $S&P 500$ $Nasdaq 100$
Ilyas Khan Top1 Markets
(Core CPI (MoM) (Jul)
Act: 0.3% Cons: 0.5% Prev.: 0.7%-
Core CPI (YoY) (Jul)
Act: 5.9% Cons: 6.1% Prev.: 5.9%)
showed a strong sentiment of bearishness in regards to the US dollar. Monthly data showed decreasing inflation from the previous month's data and also was less than expected. Yearly data showed inflation flattening out and also was less than expectations. Across the whole foreign exchange market and main pairs the dollar fell short. There are some good opportunities today for a day trade for pairs such as EURUSD, GBPUSD, AUDUSD, NZUUSD shorts, and USDJPY, USDCHF, USDCAD long positions. There should be a market correction after the big US dollar sell off. I will be looking for a 4 hour short on EURUSD and long for USDJPY soon, along with the other currency pairs mentioned.
In regards to the stock market, the S&P500 and NDX100 saw big gains and should continue to see bullishness with inflation decreasing. This is beneficial for the stock market. Meta saw shares rise today increasingly. $EUR/USD$ $S&P 500$ $Nasdaq 100$
Ilyas Khan Top1 Markets
Trade closed: target reached