EUR/USD advances to 2-day peaks near 0.9750.The immediate up barrier comes at the October high near parity.
EUR/USD pushes higher and flirts with the 0.9750 region ahead of US CPI.
Further gains are expected to meet the next hurdle of note at the October high at 0.9999, an area also reinforced by the proximity of the 55-day SMA and the multi-month resistance line. Spot is seen faltering around this key resistance area amidst the prospects for further gains in the dollar in the next months.
In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0584.
Dollar volatility set to surge on US CPI figures – LIVE
The US Bureau of Labor Statistics will release the Consumer Price Index (CPI) data for September. Ahead of the inflation report, the US Dollar Index edges lower amid improving market mood. Meanwhile, the Fed remains on track to hike its policy rate by 75 bps in November
EUR/USD clings to gains above 0.9700 ahead of US inflation
EUR/USD has gathered bullish momentum and climbed toward mid-0.9700s during the European trading hours. The renewed dollar weakness seems to be helping the pair push higher as investors gear up for the September CPI inflation data from the US.
GBP/USD rises above 1.1200 on UK political headlines
GBP/USD has advanced to a fresh weekly high above 1.1200 on Thursday on reports claiming that the UK government could announce changes to the mini budget later in the day. Investors await the September Consumer Price Index data from the US.
Gold climbs above $1,680 as US yields decline
Gold has gained traction after having dropped below $1,670 earlier in the day and advanced above $1,680. The benchmark 10-year US Treasury bond yield is down more than 1% ahead of the US CPI data, allowing XAU/USD to preserve its bullish momentum.