The NZD/USD pair confirmed below the 4-hour Ichimoku cloud on Tuesday on worse than expected Chinese data dump. Today we have another set of top-tier economic events to hit the markets. First off during the London session, the UK jobs report will be out at 9:30 AM GMT. The average earnings index could steal the show as policymakers are mindful of wage growth. Up next, the USD crosses will get hit by two important set of data out of the US at 1:30 PM GMT. The Consumer Price Index (CPI) and Retail Sales for October. Analysts estimate a lower monthly headline CPI reading but a slightly faster core inflation rate for October. As for the retail sales, market participants are expecting major weaknesses in October’s sales compared to September. Leading indicators are showing mixed readings. The CPI report might turn out to be the leading market mover as a few Fed members are already hinting that they’re uncomfortable with longer periods of low inflation. Thanks for watching, invest responsibly and I wish you the best of luck making pips by trading forex.
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