Forex Signals Brief for Sep 11: US CPI to Close Out the Week
Rowan Crosby • 2 min read
US Market Wrap
The up and down price action on global markets continued and it’s anyone’s guess how the week might end.
Much of the focus yesterday was actually in Europe as we heard from the ECB. While rates were left unchanged as most expected, the talk was surrounding the EUR/USD which has seen quite a bit of upside in recent times. Christine Lagarde suggested that the Euro is not the main focus at the moment and that helped it run even higher.
US equity markets ended the session lower, the USD was up and down, feeling some pressure from the likes of GOLD while the Euro ended around the 1.1850 mark.
The Data Agenda
While we will be watching US CPI later today, once again sentiment is the real driving force for today’s session.
As markets look to wrap up what has been a short week, all the attention will be on which way sentiment falls. The tech stocks have really been driving things recently, so again that is a key theme for today.
Otherwise, we will have data from the UK early with GDP and manufacturing bound to impact the GBP/USD.
Forex Signal Update
The FX Leaders Team hit 5 winners from 6 trades in what was another busy session and a wild week of price action.
Make sure you follow our live signals as the week will likely close out in volatile fashion.
USD/CAD – Pending Signal
The USD/CAD pushed higher this week but is now retracing. We are hunting a short here.
USD/JPY – Pending Signal
The USD/JPY is continuing to coil and I suspect it is on the verge of a big move. While we are looking for a short, be prepared to go with the momentum on a break.
BTC is still holding the $10,000 level, however, the price action has been quiet in recent days.
As we head to the weekend, we are still waiting on a break of this range between $10,000 and $10,400.