Forex Signals Brief for Apr 17: A Day For CPI Releases
Rowan Crosby • 2 min read
It has been a busy start to the trading day in Asia with a number of top-tier releases shaking up the majors.
It looks like there will be more market-moving data to come out later in the day as well, with a host of countries reporting their CPI figures.
Unfortunately for the respective central banks, we will get a host of rather weak looking CPI numbers for the UK, Eurozone and Canada.
If today’s number out of New Zealand is anything to go by, expect a very sharp fall in if any of those numbers miss expectation. These could end up being highly volatile releases, as all these countries are struggling for growth and with already very dovish central banks.
Forex Signal Update
The FX Leaders Team had a busy session yesterday, but it appears there might have been a few signals closed out in error.
Gold- Active Signal
GOLD has been weak and has fallen through the key support level at 1280. We are long here in what is really a bit of a buy-the-dip trade, looking for a quick rebound.
GBP/JPY – Active Signal
The GBP/JPY has been relatively round bound recently and we are again testing the 146.00 support level. With that in mind we are long looking for a quick bounce.
Another day and another hold of the increasingly important $5,000 level for BTC. Across the board, all the major coins were holding up well and pushing into the green.
With each hold of $5,000 the bulls get more confident, but as mentioned yesterday, we will need to see a run of $5,400 to confirm any upside here. Price is really trapped in this range for the time being.