At 15:30 we wait for the US CPI data which will be very important for the next USD direction. After 4 times in a row worse than expected data, market players seems to be optimistic for the data today. City, Commerzbank и HSBC expect 0,2%, as they have the best score of forecasting the data according to Bloomberg statistics.
If the data comes out to be better than the expectations or in line with it this will have a positive impact over USD and we can also expect a short term upward movement by the indices and the risky assets. Better than expected data will also be negative for the precious metals - Gold and Silver.
On the other hand data below expectations will be negative for the USD and we might see a breakout above the previous top by EUR/USD and increase in precious metals price.
Charts: Bloomberg Pro Terminal
Trader Nikolay Georgiev
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