The USD moves lower after CPI data comes in as expected. What are traders watching technically? Find out here.
The U.S. CPI report came in right in line with expectations for both the headline and core readings, giving the market some confidence that the broader inflation trend continues to move in the right direction. Shelter costs accounted for roughly two-thirds of the monthly increase, suggesting inflation would look considerably better if housing-related pressures begin to ease.
The market reaction has been modestly dovish. Expectations for a September Fed rate hike have slipped from around 46% to 42.1%, while Treasury yields have moved lower. The 2-year yield is down 4.2 basis points to 4.176%, while the 10-year yield is lower by 2.8 basis points at 4.655%. US stocks are higher with the Dow industrial average is up 150 points. The S&P is up 29 points and the NASDAQ 100 is up 100 points in futures trading.
In the video above, I take a technical look at EURUSD, USDJPY, GBPUSD, USDCHF and USDCAD, focusing on what the post-CPI price action has done to the bias, risk and targets for each pair. Where do buyers have control? Where do sellers have control? What levels would shift the bias, and where are the next targets?
The video walks through those key technical levels in real time and, more importantly, explains why they matter.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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