Forex Top Team

Investing in market trends ahead of tomorrow’s US consumer price index due to shortage of materials today

 

There are no notable economic statistics or speech events scheduled by financial officials for the beginning of the week. After the UK industrial production index (October), UK manufacturing output (October), UK trade balance (October), and the Turkish unemployment rate (October) were announced in the early morning of London, the US month will be released in the early hours of the morning. No high-profile announcements are scheduled until the next fiscal balance (November).

The market is likely to wait for the results of tomorrow’s US consumer price index. It has been pointed out that the fact that the US Producer Price Index showed higher-than-expected growth at the end of last week has brought about a bias in market sentiment. Yields on US Treasury bonds have risen, and expectations for longer-term interest rate hikes are spreading. Rising wages have been pointed out as the reason for persistent inflationary pressure. The U.S. employment report released on March 2 showed average hourly wage growth of 5.1% from the previous year.

It has been pointed out that in the market after this, along with the adjustment to last weekend’s dollar buying, the possibility of a resurgence of dollar buying based on the above-mentioned persistent inflationary pressure observations is also pointed out.

 

We expect the US dollar to be weak today. The aim is to buy NZDJPY, CHFJPY, GBPJPY, etc.