U.S. Dollar Rallies As CPI Exceeds Estimates: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY
The American currency is moving higher as traders focus on hot CPI report.
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The American currency is moving higher as traders focus on hot CPI report.

Hotter U.S. inflation supports the dollar as EUR/USD remains bearish, USD/CAD targets 1.4250, copper tests support and the DAX approaches breakout resistance.

The report comes at a critical juncture for the Federal Reserve as it considers its next move regarding interest rates.

Bitcoin is trading near $75K as active trading gets underway in Europe on Tuesday.

US dollar price forecast: DXY slips below 101.73 ahead of US CPI, while EUR/USD holds above its 1.1216 pivot and GBP/USD stays above 1.3429 after a BoE hike.

By examining the 4H chart of GBPUSD we can see that after last Friday's drop, it has somewhat recovered from 1.3342 to being traded at around 1.3414 level right now, having broken above the 1.34

The CPI headline reading is expected to show an increase of 0.3% while the core is forecast to increase 0.2%.

Global markets attempt a cautious recovery as falling oil prices support equities, while resilient U.S. employment and upcoming CPI data keep inflation risks in focus.

The American currency moved lower as demand for safe-haven assets declined.

Market StructureGBPUSD retains a broader recovery structure on the four-hour chart, but the advance stalled near 1.3500 and the latest pullback has broken below the early-November consolidation.Pric

US dollar price forecast: DXY trades below 102.26 ahead of US CPI. EUR/USD tests its 1.11632 pivot while GBP/USD holds above 1.3373 after a trendline bounce.

Market StructureEURUSD remains under pressure on the four-hour chart after the early-November recovery stalled near 1.1260.The subsequent decline broke below 1.1200 and returned price toward the

Hello everyone, here is my breakdown of the current EURUSD setup.Market AnalysisEURUSD previously formed a Rounding Top and declined under the Trend Line into a range.

Some market developments deserve more attention than others and this Friday.

Pairs on Watch -USDCHF: I am remaining neutral on this pair at the moment due to the potential of the higher timeframe pushing higher to take out the main highs, but also because of the DXY looking

The better-than-expected Non Farm Payrolls report provided strong support to the American currency.

The Nasdaq 100 attempts to stabilize, platinum faces resistance, and USD/CHF and USD/JPY remain supported by carry-trade interest after strong U.S. jobs data.

EURUSD is finding support from a weaker US dollar and declining Treasury yields, while the ECB remains cautious amid persistent inflationary pressures in the Eurozone.

US dollar price forecast: US NFP tests Fed expectations as DXY eyes 102.08, EUR/USD watches 1.11755 support and GBP/USD tests its 1.3406 pivot.

The American currency gained some ground amid sell-off in U.S. equity markets.