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Respected Contributor
Posts: 1,879
Registered: ‎10-03-2016

Eyes on Inflation

Feb 2nd's NFP set the scene for last weeks market turn around, the beat on job numbers and average hourly earning plus a revised increase in consumer sentiment made the market consider the increasing possibility of rising inflation after a long period of stagnation.

Will tomorrow's US CPI data shed more light on the prospect?

 

https://www.marketwatch.com/story/dont-make-big-investing-decisions-until-feb-14-2018-02-12?link=sfm...

 

Wed 14th Events:

 

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*** Intraday Price Action Scalping on FX Majors ***
Respected Contributor
Posts: 1,879
Registered: ‎10-03-2016

Re: Eyes on Inflation

Yen continues to rise on the outflows from Dow, Dow dip buyers are waiting for data on inflation. USDJPY dips a toe below the September low but gets cold feet.

US CPI and retail sales 13:30.

 

US30(£)H1.pngUSDJPY(£)Daily.pngstren1.PNG

 

 

*** Intraday Price Action Scalping on FX Majors ***
Respected Contributor
Posts: 1,879
Registered: ‎10-03-2016

Re: Eyes on Inflation

What reaction to expect from a CPI outside expectation. But remember too that core retail sales data comes out at the same time where a figure higher than expectation will give US dollar a lift so any reaction in USD will be the sum of the two different data sets.

 

Incidentally Joel Kruger is formally of DailyFX.

 

cpi1.PNG

*** Intraday Price Action Scalping on FX Majors ***