Investment Portfolio

Gain: 

Pulse Wallet

Gain: 

REA Learn Copy

Gain: 

Select Journal:

You have not created any Journals yet.

Forex Today: S&P 500 Hits All-Time High Ahead of US CPI Data

Forex Today: S&P 500 Hits All-Time High Ahead of US CPI Data

The main US stock index, the S&P 500, hit a new all-time high yesterday and still looks bullish ahead of US inflation data.

➡️ The S&P 500 Index rose yesterday to reach a new all-time high above 5,800. This is bullish behavior ahead of today's crucial US inflation data, which is expected to show an annualized rate declining from 2.5% to 2.3%. If the fall is stronger, we can expect stock markets and riskier currencies to rise strongly. If the fall is weaker than expected or we even see no change or a rate increase, we can expect a sharp decline in stock markets and a big boost to the US dollar.

➡️The minutes of the latest US FOMC meeting were released yesterday. They showed that a substantial minority wanted to cut rates by only 0.25%, but were outvoted by participants who thought the US economy was weaker than the subsequent jobs and average earnings data showed. This suggests that we will see a more aggressive approach to rate cuts at the next Fed meeting in November. CME's FedWatch tool still suggests that 86% expects a rate cut of 0.25% at the next Fed meeting.

➡️ Sentiment continues to be hawkish on the US dollar following last Friday's trigger event, when significantly stronger-than-expected US jobs and average earnings data were released. The US Dollar Index (DXY) is now trading well above the previous key resistance level at 102.25. This is a bullish signal for the greenback.

➡️ Since Tokyo opened today, the strongest major currency has been the New Zealand dollar, while the weakest has been the Japanese yen.

➡️ Gold It was sold off further after hitting a new all-time high a few days ago. If it closes below $2.570 most trend followers will give up on this long trade,

➡️ U.S. Consumer Price Index (CPI) (inflation) data will be released later today.

 

Credit by DailyForex.com

en_USEN

Investment Portfolio

Copy strategies

Find out how our strategies copy works. You can copy our strategies without costs and without risk with a demo account, and with a real account in exchange for a profit-share.

cTrader Tools

Other Tools

REA TradeKit

Access Advanced Tools and Strategies.

14 day money back guarantee.

Condivisione

Idee Trading

Sala Segnali

Free Resources

Add new operation:

Please select a Journal before adding operations.

Forex Calculators

Calcolatore Lotto Commerciale

Commercial Lotto Calculator

Calcolatore Leva e Margine

Leverage and Margin Calculator

Calcolatore Drawdown

Drawdown Calculator

Calcolatore Interesse Composto

Compound Interest Calculator

Calcolatore Valore Pips in Euro

Pips Value Calculator in Euros

Today's Economic Calendar

Hours Currency Event Importance Expected Previous
Loading news...

Flash News

Hours Title
Loading news...