Canadian inflation data released yesterday showed that annualized inflation fell faster than expected, from 3.4% to 2.9%, when 3.3% was expected.
➡️ Canadian data on the consumer price index (inflation) was released yesterday . It showed Canadian inflation fell much faster than expected, with the annualized rate falling from 3.4% to 2.9%. This will increase speculation as to when the Bank might start cutting rates, so the Loonie weakened a bit yesterday, but the Bank has made no public statements on rates, so it's all just speculation.
➡️ The Australian Wage Price Index data arrived exactly as expected, increasing by 0.9% quarter over quarter.
➡️ In the Forex market , the New Zealand dollar has been the strongest major currency since Tokyo opened today. The Japanese yen was the weakest, as it fell further despite warnings from Japanese Finance Minister Suzuki yesterday that he was watching the situation closely. The highest volatility has recently been observed in the currency pair USD/JPY and in crosses with the Yen, although this is starting to decline.
➡️ Bitcoin yesterday briefly hit a new 20-month high above $52,884 before giving up all of the day's gains. Trend traders and investors will remain interested in Bitcoin on the Long side.
➡️ Global stock markets they are contrasting. Trend traders will still appear to be involved on the Long side of the major US stock indexes, despite last week's losses, ei day traders they may consider trading along these indices if they show bullish momentum after the market opens.
➡️ Cocoa futures they regained ground yesterday after the sharp decline on Friday, which has led to profit-taking and the suggestion that the current phase of the long-term bullish trend it may be finished. Trend traders will watch closely and consider going long, especially if the price fully recovers and reaches a new long-term high.
➡️ The US Federal Reserve will publish minutes of the FOMC meeting Later today.
Credit by DailyForex.com