CPI Data is expected to raise to 3.4%
Today, investors are looking forward to the CPI data since we used to see fluctuations in the markets every time the data was released; the CPI in the previous year ranged between 3.7% at the highest and 3% at the lowest.
If it remains within the same range, we would expect no significant changes; nevertheless, any number above 3.7% or below 3% will cause significant https://mhttps://www.tradingview.com/chart/UctofC4T/?symbol=TVC%3ADXYarket movement, especially since the stock markets are trading near their peak.
According to the following chart, the US dollar index has been trading lately between a resistance level of 107.4 and 100.7 as a support level since the end of 2022, so the coming CPI reading will give us a clear indication about the Fed's coming decisions regarding the monetary policy.
If it remains within the same range, we would expect no significant changes; nevertheless, any number above 3.7% or below 3% will cause significant https://mhttps://www.tradingview.com/chart/UctofC4T/?symbol=TVC%3ADXYarket movement, especially since the stock markets are trading near their peak.
According to the following chart, the US dollar index has been trading lately between a resistance level of 107.4 and 100.7 as a support level since the end of 2022, so the coming CPI reading will give us a clear indication about the Fed's coming decisions regarding the monetary policy.
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