US index 13 05 2021

Last night saw the release of CPI data with the key information being:

The CPI m/m data released yesterday indicated a sharp increase in inflation in April. Measured from a year ago, annual inflation rose by 4.2%, the fastest since 2008.

  • CPI m/m (Actual: 0.8%Forecast: 0.2%Previous: 0.6%)
  • Core CPI m/m (Actual: 0.9%Forecast: 0.3%Previous: 0.3%)

The US dollar moved strongly off 90.20 and is currently holding at over 90.70, a buy trade if price can pull back to 90.50 with a stop loss at 90.30 with a take profit at 91.00.

 

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By Scott Andrews

Scott Andrews is an Australian based trend and swing trader using the daily, 4 hour and 1 hour time frames. He has previously worked in China as a performance coach for their Winter Olympic Team at the time refining his trading skillset. and runs a YouTube channel discussing his thoughts on markets as well as being the Account Manager (Australia) for ForexBriefcase. Recently Scott took on the role as Trading Coach for LCMS Traders.

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