Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.37596 with take profit at 1.37814 .
Bearish Preference:
Sell position is envisaged if price trades below 1.37300 with take profit at 1.37131.
Fundamentals:
2:30pm USD PPI m/m
USD Core PPI m/m
USD Unemployment Claims
4:00pm USD FOMC Member Brainard Speaks
7:01pm USD 30-y Bond Auction
Comment: The U.S. dollar edged lower in early European trade Thursday, adding to the previous session’s sharp losses after the release of the latest inflation data failed to encourage any further bets on aggressive Federal Reserve policy tightening. Wednesday’s U.S. data showed that the headline consumer price index grew 7% year-on-year and the month-on-month figure rose by 0.5%. Stripping out the volatile energy and food sectors, the core consumer price index grew 0.6% month-on-month and 5.5% year-on-year in December.
Analysis: SCRUM Team