Hey everyone, it’s Wednesday and the market is not as volatile as expected. We had the CPI from the USA on Monday and some numbers on Tuesday, but nothing too crazy. Today, we heard from the Fed’s Powell, who struck a somewhat dovish tone. Additionally, the CPI from New Zealand came in as expected after a brief scare with a typo suggesting a 6% inflation rate, which was quickly corrected.
Looking ahead, we have the CPI releases from the UK and Europe, as well as the Europe Leaders Summit tonight. These events will likely impact the market, so keep an eye on them.
Currently, the EUR/USD pair is trading around 1.0627, just touching the 1.0626 level but not breaking it. I’m expecting a slight pullback to around 1.0636-1.0672 before considering short positions. However, if the pair breaks below 1.0626, I’ll be looking for a further fall.
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