US index 11 05 2021

Overnight we saw a distinct shift to risk off sentiment in the equity markets especially the NASDAQ with markets reverting back to inflation concerns. There’s no significant news out for the US with inflation data coming out on Wednesday evening at 20:30 GMT+8 time zone, support appears to be holding up and it will be key to see how the market reacts to the Core CPI and also CPI year on year change and whether it meet forecasts.

Key points to consider:

US CPI m/m (%)

0.2% Forecast 0.6% Previous

US Core CPI m/m (%)

0.3% Forecast 0.3% Previous

US Core CPI y/y (%)

2.3% Forecast 1.6% Previous

US CPI y/y (5%)

3.6% Forecast 2.6% Previous

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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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