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Today’s economic data from the US – CPI figures is probably the most important release of the week. It will set the stage for the next move in majors. If we get a positive surprise, US dollar will resume its advance. I also wonder if that would mean another big sell-off in the equity markets?
We also get some Eurozone data today, the most important being GDP, but for some reason I doubt it will have a significant impact on euro. It’s all about how fast the Fed will have to move (how many times) this year and that is what drives the markets.
So far, after Tokyo opening dollar is suffering a bit more as USD\JPY keeps going south. I opened 5 new trades, all dollar long, which at the moment are all in red about 20-30 pips. Somehow, I do believe that the greenback is going to emerge a big winner by the end of the week.
We also get some Eurozone data today, the most important being GDP, but for some reason I doubt it will have a significant impact on euro. It’s all about how fast the Fed will have to move (how many times) this year and that is what drives the markets.
So far, after Tokyo opening dollar is suffering a bit more as USD\JPY keeps going south. I opened 5 new trades, all dollar long, which at the moment are all in red about 20-30 pips. Somehow, I do believe that the greenback is going to emerge a big winner by the end of the week.
