Forex News Letter : Will US CPI Data Be Instrumental In Shaping Fed’s Decisions?

It’s the day everyone’s been anticipating as forex news will unveil the US CPI inflation data that’s incoming!!

With inflation reports coming, all traders are looking forward to clues about where the Fed is going to take action.

Without further adieu, let’s dive down to the analysis.

       Dollar index

       Dollar index is trading around 103.77.

   Below 103.72… Sell it.

    Downside Targets Looks  103.68–103.50 

 Stop loss below 103.91.

   XAUUSD

         ( Yesterday We Recommended to Sell !! Below $2019) 

         ( Both Target Hit   $2014-$2011)      target $2010       

    Buy Above  $2029

  Upside Targets Looks  $2035–$2040.
      Stop-loss $2017.

XAGUSD   

Buy Above  $23…
    Upside Targets Looks  $23.20– $23.30.

       Stop Loss $22.79.

COPPER

 ( Yesterday We Recommended to Buy !! Above $3.69) 

       ( Both Target  Hit $3.70-$3.72)   

  Buy Above  $3.75

  Upside  Targets Look $3.77– $3.80.

  Stop Loss $3.71.

CRUDE OIL(WTI)

                                   

Crude Oil is Trading Around $77.44.

                  Above  $78… Buy it!!

                Upside Target $79-.$80. 

              Stop Loss $77.  

     NASDAQ

 ( Yesterday We Recommended to Buy!! Above 18070 ) 

       ( Both Target Hit 18100–18120)   
            Sell Below 17830  Levels Only…!!
      Downside Target Looks 17790-17770.

      Stop-loss 17900.

  S&P 500 E-Mini 

    ( Yesterday We Recommended to Buy!! Above 5050) 

       (1st Target Hit 5060)  

                 S&P 500 Resistance 5040
              Sell Below 5018

                   Downside Target Looks 5003-4980.

        TOP PICK– USDCHF

Buy Above  0.8821 Stop-loss 0.8724  Target 0.8920.

Forex News: US CPI and Crude Oil in Focus!!

The highly impacting US Consumer Price Index for January will be published tonight. As per the latest analysis, the inflation data could be altering the market’s pricing, signalling the Fed’s movements thereby triggering volatility in the US Dollar.

Breaking News is Crude Oil. Oil traders have been sending crude higher with EIA reporting he OPEC production cuts are being respected at the moment.

That’s all for today!!

So until next time, Happy Trading!!

Commodity Samachar
Learn and Trade with Ease

Also Read : US Inflation in Focus: Will the US Data Conquer Today’s Market? ,Gold Outlook: Is US Inflation Propelling a 2-3% Surge in Gold?

Recommended Read : Forex News Letter – Anticipations for the US Inflation On the Rise?

Want help on your traders?

Chat with our analyst