The market is not moving at all during the last two days considering that we are going to have another important event from the U.S.
Today we will have the CPI data.
All the market is moving against the USD but this could be only a corrective movement considering that CPI is slowing down from the previous months and the USD is also recovering the lost zones.
Be careful as today it will be a very volatile day and probably the market may delete the moves again after the news event. Everyone will try to interpret the data and the biggest mess will come from the news websites that as usual they have ready the positive articles and negative articles.
👉14:30 USD Consumer Price Index ex Food & Energy (MoM)(Jan) Expected 0.4%, Previous 0.4%
👉🚨14:30 USD Consumer Price Index ex Food & Energy(YoY)(Jan) Expected 5.5%, Previous 5.7%
The bigger picture looks bearish however it's more complex than it seems.