Trading On U.S. CPI-Day
Today all eyes will turn to the U.S. inflation March numbers. The report could cause significant volatility, especially if the numbers surprise to the upside. In case of a hotter-than-expected CPI, that would shift Federal Reserve interest rate expectations in a more hawkish direction, the U.S. dollar will rise. If inflation numbers come below expectations, traders will bolster their bets on Fed rate cuts. Any dovish interpretation would weaken the greenback.
The U.S. inflation numbers are scheduled for release at 12:30 GMT.
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Our trading ideas for today 10/4/24:
EUR/USD
Long @ 1.0870
Short @ 1.0820
GBP/USD
Long @ 1.2685
Short @ 1.2635
Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
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