Instrument: EURUSD+
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.10337 with take profit at 1.10476.
Bearish Preference:
Sell position is envisaged if price trades below 1.09913 with take profit at 1.09827.
Fundamentals:
1:30pm USD Core PPI m/m
USD PPI m/m
USD Unemployment Claims
Comment:
Dollar edges higher; remains near two-month low after U.S. CPI. The U.S. dollar edged higher in early European trade Thursday, but remained under pressure after cooler-than-expected inflation data raised the possibility of an early end to the Federal Reserve’s rate-tightening cycle. This was below the 5.2% expected, but underlying inflation pressures remained strong, with core CPI, which excludes volatile food and energy prices, rising 5.6% on an annual basis, up from 5.5% the prior month.
Analysis: SCRUM Team