USD Analysis with US CPI to Come | Indices | US Dollar Index | US30
Today’s focus: USD
Support – 101.90
Resistance – 102.55
- Key US inflation data due for release at 8:30 EST
- YOY CPI forecast to increase to 3.3%
Today, we look at the USD Index as the price continues to trade rangebound after fighting back from a two-day decline. Could today’s CPI data break the deadlock and give the market some direction?
Traders will be watching to see what today’s data could do for rate rise expectations. Could a move above expectations lift the price above resistance and get the current trend back on track? Or could a miss to the downside confirm an LH and break the trend, setting off fresh selling? If we see the data come in flat, this could maintain our current price range.
We have also quickly touched on the US30 and what we are watching in that market, with inflation and rates being an important influence.
Keep an eye on today’s data when it’s released at 8:30 am EST, as it could produce some volatility if the figure comes out outside market expectations.
Video Analysis of the USD Index and US30 with US CPI in the mix.
Have a great day and good trading.
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