EURUSD Post CPI Release | Price Went Parabolic!
Hi guys,
Chern Yu here. Today I will be touching base on the fundamental news and effects of the CPI release.
Fundamental Context
1. CPI m/m: 0.4% vs 0.6% market consensus
2. CPI y/y: 7.7% vs 8.2% previous
3. Core CPI m/m: 0.3% vs 0.6% previous
CPI has definitely dropped and inflation is slowing down
That is a positive outlook and sign for EURUSD who has been bearish for almost the entire year. The FED pivot might be round the corner and looking for longs seems highly probable.
Market has so far been pricing in a slow down in inflation and CPI prints.
With the news release today, I anticipate price to continue pushing up and for the FED to hike by 50bps in the upcoming Dec FOMC meeting.\
I believe that there is much upside potential for EURUSD and a slowdown in rate hikes is imminent.
Chern Yu here. Today I will be touching base on the fundamental news and effects of the CPI release.
Fundamental Context
1. CPI m/m: 0.4% vs 0.6% market consensus
2. CPI y/y: 7.7% vs 8.2% previous
3. Core CPI m/m: 0.3% vs 0.6% previous
CPI has definitely dropped and inflation is slowing down
That is a positive outlook and sign for EURUSD who has been bearish for almost the entire year. The FED pivot might be round the corner and looking for longs seems highly probable.
Market has so far been pricing in a slow down in inflation and CPI prints.
With the news release today, I anticipate price to continue pushing up and for the FED to hike by 50bps in the upcoming Dec FOMC meeting.\
I believe that there is much upside potential for EURUSD and a slowdown in rate hikes is imminent.