US PPI Report Gets Ignored Before Yellen
Skerdian Meta • 1 min read
Today seems like a great day for inflation. It began with the Chinese inflation report in the early morning hours, then continued with the British inflation numbers. They appeared to be mixed but were leaning more on the positive side, in my opinion, despite the decline in GBP pairs.
About an hour ago, we got the US producer inflation report. All the monthly numbers were really impressive, but the yearly inflation without energy, food, and trade ticked down a point.
The Buck is a touch better now but those numbers didn´t really cause anything. That´s because the FED chairwoman, Yellen, is coming up soon.
She´s going to get roasted for two days in front of the new US administration and we know Trump is not really fond of her. Is he fond of anyone really?
Anyway, I´ll keep an eye there, as with everyone else, to see when the next rate hike is coming or whether she might get fired altogether.
EUR/USD failed to reach the 1.0640-50 region where the 100 SMA stands. So, we could open a sell forex signal, as displayed on the above section. We´re still waiting for another chance.