Global macro overview for 13/12/2017 13.12.2017


In November, the annual growth of US consumer prices reached a consensual level of 2.2%, which should be treated as a result of a strong rebound in energy prices in the face of cheaper food and fuels for private transport. A slight disappointment was provided by CPI Core prices, which came just below market expectations (1.7% y/y, consensus: 1.8%). The decomposition of price pressure reflects the argument of more hawkish-minded Fed members, which contributes to the appreciable depreciation of the US Dollar.

CPI serves as the headline figure for inflation. Simply put, inflation reflects a decline in the purchasing power of the dollar, where each dollar buys fewer goods and services. In terms of measuring inflation, CPI is the most obvious way to quantify changes in purchasing power. The report tracks changes in the price of a basket of goods and services that a typical American household might purchase. An increase in the Consumer Price Index indicates that it takes more dollars to purchase the same set basket of basic consumer items.

Let’s now take a look at the US Dollar Index technical picture at the H4 time frame after the CPI data was posted and before the FOMC interest rate decision. The market moved slightly below the technical support at the level of 93.89 and tested the dashed black trend line. The key resistance remains at the level of 94.18 – 94.40, but for now, the market is not willing to test it or break it yet as the oversold conditions favor the downside for the moment.

Exchange Rates 13.12.2017 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sebastian Seliga,
Analytical expert
InstaForex Group © 2007-2017

Benefit from analysts’ recommendations right now

Top up trading account

Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.


Source link

قالب وردپرس

We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.

Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at

Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535

Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.

Konga Verified Blogger

Leave a Reply