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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.

➡️ L’indice S&P 500 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.

➡️I verbali dell’ultima riunione del FOMC statunitense sono stati pubblicati ieri. Hanno mostrato che una minoranza sostanziale voleva tagliare i tassi solo dello 0,25%, ma sono stati messi in minoranza dai partecipanti che pensavano che l’economia statunitense fosse più debole di quanto i dati sui posti di lavoro e sugli utili medi successivi mostrassero. 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.

➡️ Il sentiment continua a essere aggressivo sul dollaro USA dopo l’evento scatenante di venerdì scorso, quando sono stati pubblicati dati considerevolmente più forti del previsto sui posti di lavoro e sui guadagni medi negli USA. 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.

➡️ Dall’apertura odierna di Tokyo, la valuta principale più forte è stato il dollaro neozelandese, mentre la più debole è stato lo yen giapponese.

➡️ 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

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