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CPI in line with expectations [Video]

Dale J Pinkert Independent Analyst

Trading covers the latest CPI report, which came in line with expectations, while the DXY weakened slightly as AUDUSD approached a key long-term resistance zone at 0.7112. Coach discusses the possibility that the recent surge in precious metals may be nearing completion and explains why copper could be vulnerable to a sharp decline, with a large number of long positions potentially setting the stage for a liquidation selloff. He also points out that the S&P 500's new highs are not being confirmed by RSI, while today's crop report could set the tone for the markets in the weeks ahead.

Author

Dale J Pinkert

Independent Analyst

Former Member of the Chicago Mercantile Exchange (IOM Division), Dale's market forecasts have been aired on Financial Television and Radio station including CNBC.

GBP/USD retreats from multi-day highs around 1.3550

GBP/USD now gives away part of the earlier advance toward the 1.3550 region, or multi-week peaks, looking to consolidate around the 1.3530 region on Wednesday. Cable’s continuation of its march north follows the modest downside pressure on the Greenback after US CPI readings matched consensus in July.

EUR/USD eases from tops, back to 1.1550

EUR/USD now surrenders some gains and recedes toward the 1.1550 regio on Wednesday. Despite the knee-jerk, spot keeps the bid tone intact amid the offered stance in the US Dollar, all in the wake of in-line US inflation data in July. However, the fragile landscape in the Middle East is expected to put a floor to the occasional downward trend in the buck.

Gold challenges 10-week highs near $4,450

Gold now pushes harder and climbs to new two-month highs near $4,450 per troy ounce on Wednesday. The yellow metal’s solid performance comes on the back of a weaker US Dollar and declining US Treasuty yields across the curve as investors assess the latest US CPI data.

Ripple lags recovery as exchange reserves expand

Ripple is trading within a broadly constrained technical structure, with support at $1.00 and key moving averages limiting its recovery potential. In August, the remittance token declined by approximately 6.5%, extending its total pullback to around 14% from July's $1.18 peak.

911 million shares freed: Why SpaceX rallied into its own supply

The most heavily trailed supply event of the year landed on August 6, and the SpaceX (SPCX) stock went up. Roughly 911.5 million shares held by insiders and early backers became eligible to trade, around 43% more than the entire float sold at the listing.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.

CPI in line with expectations [Video]

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GBP/USD retreats from multi-day highs around 1.3550

EUR/USD eases from tops, back to 1.1550

Gold challenges 10-week highs near $4,450

Ripple lags recovery as exchange reserves expand

911 million shares freed: Why SpaceX rallied into its own supply

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

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