Today, Data comes mixed from United states , the USD slides , remains under pressure, but there’s a chance to recover, anyway let’s highlight the most critical US events for today :
The Core Consumer Price Index (CPI) fell to 0.1%, from 0.3% in the previous month, Core Consumer Price Index was expected to fall to 0.2% last month.
(Year-Over-Year) Core Consumer Price Index (CPI) fell to 1.7%, from 1.8% in the previous month, (YoY) Core CPI was expected to remain unchanged 1.8% last month.
Initial Jobless Claims fell to 267K, from 279K in the previous week, Initial Jobless Claims was expected to fall ti 275K last week.
Jobless Claims 4-Week Avg. fell to 276.75K , from 278.75K in the previous week.
Philadelphia Fed Manufacturing Index made a huge rise to 15.2, from 6.7 in the previous month, Philadelphia Fed Manufacturing Index was expected to rise to 8.0 last month.
Market Impact :
1- Core Consumer Price Index data was negative for USD.
2- Initial Jobless Claims data was positive for USD.
3- Philadelphia Fed Manufacturing Index was over positive for USD.
Recommendations: since USD is down and under pressure, selling the dollar on recovery still recommended in short term view…