The Australian dollar fell across the board after softer Q2 CPI reduced RBA hike expectations. FOMC now in focus.
Australian Dollar Broadly Lower as Soft CPI Reverses RBA Hike Bets https://t.co/lpsqEfwoSR
AU inflation - could have been worse. AUD lower across the board as headline CPI drifts lower, but still high at 3.8% (4% prior).
Trimmed mean softened to 0.8% in Q2, which is still elevated but at least moving the correct direction.
The RBA seem likely to retain a hawkish bias without the need to hike in August - or possibly at all for this cycle.
Best 2-day rally in six weeks, SPI futures higher overnight. Let's see what CPI and FOMC make of that.
AUD/USD Under Pressure Ahead of CPI, FOMC Amid Tech-Fueled Selloff https://t.co/rdSD9y5qFE
$USD into FOMC
101.80 resistance and markets are highly expecting a hawkish Fed later this year, with 90% probability of at least one hike and 50% for at least two
lots of room for that to moderate
$EURUSD falling wedge
$USDJPY also a key driver https://t.co/1b88HnZLAH
pre-FOMC $USD price action setups, starting now
going to look ahead into the Fed and BoJ, will also look at stocks later in the session with so many earnings reports on the way
https://t.co/EAkQ5e7HAA
One of the biggest mistakes traders make is entering a position without knowing when to get out. Your exit strategy should be part of your initial trade decision.
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🇮🇷 Oman proposal on shared ownership of the Strait of Hormuz extends drop in oil prices
🧟 FOMC "hawkish hold" expected - is the meeting live for a rate hike
📉 $NDX tests support ahead of Fed as semis drop - see the next levels to watch! 👇
The KOSPI grabbed the Nasdaq's weak lead with both hands, in a true 'hold my beer moment' - currently down -10% and dragging the Nikkei along for the ride.
Nikkei 225 Faces Critical Test as Correlated Stocks Eye Support https://t.co/kFTUcOWqh5
$EURUSD pretty much everything you'd wanna see if bearish
bear flag break
bearish engulf on the daily from ECB
already this week resistance hit at prior support
...
then why hasn't it broken down to a fresh low yet?
Waiting on the #FOMC
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🇮🇷 US & Iran hit pause on strikes - will it be short-lived?
📅 FOMC, BOE, and BOJ meet + one-third of $SPX reports earnings this week
🛢️ WTI Crude Oil drops -7% to test support - see the next levels to watch! 👇
The main reason price moves? The imbalance between buyers and sellers. More buyers competing to get in means sellers can hold out for a higher price. More sellers trying to exit means buyers can wait for a lower one.
Fresh 10-year high for USD net-longs in $$$ terms
US Dollar Bulls Tighten Grip, Yen Bears Pile In: FX Futures Positioning | COT Report https://t.co/g2Dke0O66c