Weaker Dollar after CPI data, positive risk sentiment

Frank Walbaum FX Strategies.Asia

Important news for the day

Thu, 15th, 03:30 CET AU Unemployment rate.
Thu, 15th, 14:30 CET US Unemployment rate.

US CPI data

In the US, inflation data has eased further according to data from yesterday. As the pressure of inflation is seemingly easing a rate reduction might follow as early as September as traders expect. Furthermore the expectation currently rises that another rate cut by 50 basis points might follow at least once this year. Disappointing job data is currently being added more into focus, which could cause the Fed to act soon. The unemployment claims from today could offer further insights, too.

Market talk

The weakness of the Dollar continues after the lower consumer prices index yesterday. Most USD pairs geared up steam against the Greenback. The negative outlook for the economy also causes oil prices to weaken. A fresh breakout to the upside in the AUDUSD pair based on the daily chart might also add fresh positive momentum to the market. Worth noting that indices are able to rise again, whereas the crypto market lags behind currently. The NZD might remain weaker for now, since yesterday’s rate cut causes the Kiwi to weaken further.

Tendencies in the markets

Equities positive, USD weak, cryptos positive, oil weaker, metals positive, JPY weaker.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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