Trading insights: Are you “skeptical” US inflation will continue to fall?

Chart 1

Chart 1 illustrates the five year core inflation trend for the United States.

Market Talk:

United States Inflation due at 12:30 UTC today:

• Year on year inflation expected to move slightly higher
• Core inflation year-on year expected to move slightly lower

Any signals of softer overall inflation readings today could give the Fed room to hold interest rates steady?

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Today’s economic calendar

Source: TradingView / J. Knobel August 10 2023 8:01 AM UTC

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Trading prospective:

EUR / USD downside risk remains

Technical commentary: EUR/USD

Despite that current price remains contained within the upward sloping 12 week price channel, downside risk remains on the table provided that the potential bearish pennant pattern proves true e.g the pattern is completed with a price break below the lower line (see chart). Downside prospects towards the 1.0870s can not be ruled out, while upside risk seen above the 1.1040s (see chart).

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