Morning Insights 12th August

Simon Alagbe

Analyst


Instrument: EURUSD

The Fibre gained momentum against the Greenback in the session yesterday after the massive rejection from the low last witnessed on the 31st of March this year. US core inflation did not come out sharply higher than expected for the first time in four months, according to the data released by the Bureau of Labor Statistics. The cooling inflation data relieved the pressure on the Federal Reserve to rein in its massive bond-buying program, weakening the Greenback.


Technicals: 

A break above the recent high of 1.17516 will support further move to the upside with take profit at 1.18052 and stop-loss at 1.17024. 


Fundamentals 

PPI m/m (USD) 1:30 PM

Core PPI m/m (USD) 1:30 PM

Unemployment Claims (USD) 1:30 PM

30-y Bond Auction (USD) 6:01 PM

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