It’s all about the US CPI data today but this is a market that is wanting a softer number, if the recent dollar and risk mood is anything to go by. EUR/USD is staying more tentative upon its latest breakout attempt above 1.0700 with AUD/USD also cautious in making its way towards the 0.7000 mark. Meanwhile, the S&P 500 has steadily climbed up to be within range of its 200-day moving average and key trendline resistance once again:
The question now is, will the inflation numbers help kick those plays into second gear as the new year gets underway?
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This article was originally published by Forexlive.com. Read the original article here.