 Tools for TradersTop Movers | Heat Map | Pivot Point | Pivot Meters | Action Bias | Volatility Charts Action InsightMid-Day Report: Dollar Selloff Restarts as CPI Just Met Expectation, Trump Fired Tillerson Dollar suffers broad based selling in early US session as in-line with expectation CPI data is a relieve to market participants. Additional, the greenback is weighed down by political turmoil in the White House. Headline CPI accelerated to 2.2% yoy in February, up from 2.1% yoy and met expectation. Core CPI was unchanged at 1.8% yoy, also met expectation. The data will not change Fed's path to hike in March, likely in June too. But it doesn't give Fed any support to hike the fourth time in December. Technical OutlookGBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.3858; (P) 1.3887; (R1) 1.3935; More.... GBP/USD's break of 1.3929 indicates resumption of rebound from 1.3711. The break of near term trend line resistance suggests that corrective pull back from 1.4345 has completed at 1.3711 already. Intraday bias is back to the upside for 1.4144 resistance first. Break should confirm this bullish case and target 1.4345 high and above. On the downside, below 1.3780 minor support will turn bias to the downside to extend the corrective fall from 1.4345 instead. Suggested ReadingsU.S CPI As Expected, Four U.S Rate Hikes Questioned Dollar Climbs ahead of US CPI Figures; European Stocks Edge Up US Futures Edge Higher Ahead Of Inflation Data WTI Crude Oil Futures Post Neutral Sessions, Bollinger Bands Act Like Obstacles Forex Analysis: EURUSD And GBPJPY Yen Weakens On Politics, All Eyes On US Inflation GBPUSD Still In Bearish Correction Mode, Maintains Weak Bias In Near Term Economic Data
|
 |
| |
