Latest Market News: 14th June 2023
The US just saw a major improvement in current inflation. Headline CPI has halved from the peak to now 4.0%. While the monthly rise was almost flat at just 0.1%. Both results were in fact better than the market had hoped for.
US CPI cooling supports Fed inaction tomorrow. In May, the United States experienced a slowdown in price pressures, primarily due to a decrease in gasoline prices. As a result, the CPI only advanced by 0.1% on a month-to-month basis, which was in line with expectations.?
USD soft after China rate cut. The USD is weaker this morning following China stimulus and expectations for decelerating US inflation?while the decline of the USD aligns with my medium-term prediction, I remain unconvinced.
The Dollar eased against its Rivals as traders anticipate a pause in the US Federal Reserve’s hiking cycle at the conclusion of their meeting tomorrow (Sydney 4 am Thursday, 15 June). A key inflation report, (US CPI), cooled in May to 0.1% from 0.4% (y/y), and lower than median expectations at 0.2%.
Will a price reversal pattern form at this resistance area to confirm a reversal back down to the 0.6573 weekly support level?
Join me, Nathan Bray, Senior Account Manager at ACY Securities, as we delve into the intricacies of the US Dollar amidst an eventful week of unprecedented economic data releases.
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