Affiliate Disclosure
Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: Markets Expect Falling US Inflation Data Today

Markets are keenly awaiting today’s release of crucial US CPI data, which is expected to show a fall from last month’s data. The result will likely impact stock and Forex markets, especially the US Dollar.

  1. There will be a release today of US CPI (inflation) data which is expected to show a decline in the annualized rate from 3.3% to 3.1%. However, the month-on-month change is expected to tick higher from 0.0% last month to 0.1% this month. Higher than expected inflation will almost certainly trigger a selloff in stocks and boost the US Dollar, lower than expected data will have the opposite effect.
  2. We saw stock markets continue with their bullish moves to new record highs. This bullishness is seen as led by technology stocks, and has followed right through today’s Asian session, with stocks trading near their highs approaching the Tokyo close. We are seeing new all-time high prices in the NASDAQ 100 Index and the broader S&P 500 Index. Most global equity indices are bullish, with Japan again the standout today as the Nikkei 225 index has risen to close at a new record above 42,000. The Japanese TOPIX has also risen today to trade at a new all-time high. These are bullish signs for equities and trend traders will want to be involved here on the long side.
  3. In the Forex market, the New Zealand Dollar is the strongest major currency since the Tokyo open, while the US Dollar is the weakest, putting the NZD/USD currency pair in focus. The USD/JPY currency pair continues to exhibit a valid bullish long-term trend and trend traders will still want to be involved here, especially as recent highs near ¥162 are being threatened.
  4. UK GDP data released earlier today showed a stronger than expected increase, with a month-on-month gain of 0.4% when only 0.2% was anticipated. The Pound ticked a bit higher on the news, but is looking quite bullish anyway, with the GBP/USD currency pair earlier trading at a new 4-month high price.
  5. There will be a release later today of US Unemployment Claims data.

Want to trade our daily forex analysis and predictions? Here's a list of best brokers for beginners to check out. 

Top Forex Brokers

    Adam Lemon
    About Adam Lemon

    Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.


    Most Visited Forex Broker Reviews