New US inflation data released yesterday showed that inflation remains relatively strong, with the annualized rate rising month-on-month from 3.1% to 3.2%.
➡️ Yesterday's release of CPI data US showed that the annualized rate rose from 3.1% to 3.4%, with core CPI showing month-on-month growth of 0.4%, compared to the expected 0.3%. Despite the slightly negative news, US stock markets still look good bullish , With the' benchmark S&P 500 index which closed yesterday at a new all-time high price. Despite the data, the US dollar barely moved.
➡️ Bitcoin yesterday it advanced again to reach a new all-time high just above $73,000. L' short-term price action looks bullish. Trend traders will be interested here on the long side.
➡️ The price Gold is showing the first signs of having reached a high on Friday at the record level of $2195. However, these are only initial signs, and bulls are unlikely to begin exiting long-term positions until a deeper bearish pullback occurs.
➡️ In the Forex market, the New Zealand dollar has been the strongest major currency since the Tokyo open today. The Swiss franc was the weakest.
➡️ In the raw materials market , cocoa futures rose sharply yesterday, reaching new multi-year highs. Trend traders will be thrilled to get involved in this long-lasting trend on the Long side.
➡️ UK GDP data will be released later today, which are expected to show a month-on-month increase of 0.2%.
➡️ Analysts in Japan expect sizable corporate wage increases to be agreed this week, likely triggering the Bank of Japan's abandonment of its current ultra-loose monetary policy as early as next week.
Credit by DailyForex.com