The inflation data is likely to show a weakening trend against the USD
The prediction for the USD concerning the upcoming inflation data seems to indicate an initial weakening of the USD, followed by a subsequent resurgence. This suggests that based on the data, there appears to be a leaning towards weakening, and the Fed's plan to potentially reduce interest rates in the future is likely. However, it's important to note that the movement ahead of the "US Inflation/CPI" news could be advantageous for some investors because this news significantly affects market movements, thus becoming a focal point. The central bank views that policies need not be indefinitely restrictive from an economic standpoint. The Federal Reserve seems to be assessing the economic landscape and could gradually shift towards a more accommodative stance if deemed necessary.
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XAUUSD
Technical Analysis
Bearish Continuation
Demand Level: 1986.93 – 1983.53
The prediction for gold today tends toward continued decline for the time being. It appears that this downward trend persists due to the absence of support for an upward movement at the moment. Today, there will be news on 'US Inflation,' which is predicted to weaken the USD, but it seems to be only marginal, potentially resuming strength afterward. This weakening effect is based on data indicating a lower tendency. Although the gold market is currently on the rise, it might only be a relatively small increase. This analysis prediction is supported by candlestick analysis and trendline analysis.
Technical Analysis
Bullish Uptrend
Demand Level: 69.01 – 69.74
The prediction for Oil indicates a slight upward trend previously, and currently, there seems to be a tendency for temporary correction. However, the labor market appears to be one of the bright spots in the world's largest fuel consumer. It appears that there's still potential for Oil to rise, although this increase seems limited for now. Looking ahead, Oil is predicted to rise due to the influence of conflicts in the Middle East on Oil movements. The overall trend still shows an upward trajectory, supporting further increases, even though there's a temporary correction at present. This analysis prediction is supported by candlestick and trendline analysis.
Technical Analysis
Continuation Bullish / Upward
Demand Level: 145.368 – 144.634
The prediction for the USD suggests a continued uptrend, despite the current slight decline. The rise in the USD is influenced by the increasing yield. The overall trend direction for the USDJPY pair still indicates an upward movement, albeit with a slight decrease. Today, there will be news on 'US Inflation' which is predicted to weaken the USD. However, after the news release, the USD might still tend to strengthen again, so this is something to keep an eye on. This prediction and analysis are supported by trend analysis and candlestick patterns.
Technical Analysis
Bearish Continuation
Supply Levels: 125.892 - 125.769
The prediction for the Pound Sterling suggests a tendency for a reversal in the downtrend after reaching the resistance area, potentially indicating a reversal afterward. The reason there is still a chance for the Pound Sterling to decrease is because, broadly speaking, it remains in a downward trend despite a slight upward movement. Therefore, this needs attention, and the strengthening of the USD is due to the support from the increasing US bond yields. Consequently, this may lead to a potential price increase. Analytically, there is also potential for a future reversal, although currently, there is a relatively small increase.
Technical Analysis
Bullish Trend / Rise
Demand Levels: 35,806 - 35,956
The prediction for Dow Jones suggests a tendency towards continued upward movement, although the momentum might not have a significant impact, the influence on this increase remains relatively high for the Dow Jones index. This is because, technically, the price has reached a point where it shows strength for this particular Dow Jones index and presents an opportunity for investors who tend to favor it. Today, it is predicted that Dow will continue its significant rise, presenting an awaited opportunity. Data indicates a weakening of the USD currency, which impacts the rise in the Dow Jones index.
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