US Core CPI is expected to rise only around the 0.2% this month but because the Fed has been rather dovish lately, any upward surprise reading should support the USD while a worse than expected reading could send USD on a selling frenzy… Of course, it will depend on the actual figure, and considering the recent NFP report, I believe it will take a very negative figure to shake market confidence in the USD, whereas if we just get a slightly positive reading, such as a 0.3% or better, USD is set to gain.
At any rate, my short-term view on the USD is to stay out or hold, but my long-term view is definitely to buy USD against JPY only, since EUR and GBP are both showing signs of recovery.
8:30am (NY Time) US Core CPI m/m Forecast 0.2% Previous 0.1%
The Trade Plan
We´ll be trading this release using our after news retracement trade method.
For more information on my trading methods: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: EURUSD.
US Core CPI | August 11, 2017 | Forex News
August 6, 2017 by Leave a Comment