USD/JPY, GBP/USD, AUD/USD FORECAST
The focus this coming week will be on the October U.S inflation report expected tomorrow. Deviation of the consumer price index from consensus expectations may potentially contribute to an increase in FX volatility.
This article examines pivotal technical levels for USD/JPY, GBP/USD, and AUD/USD that might act as support or resistance in future trading sessions.
Make sure to check the How Will Gold Prices, EUR/USD and Nasdaq 100 React to Data? Fundamentally, traders should be on high alert on Tuesday for fluctuations in the U.S. Bureau of Labor statistics expected to release the October inflation figures.
Consensus estimates project a 0.1% m/m and 3.3% y/y rise in the headline CPI. The core gauge is expected to increase by 0.3% m/m and 4.1% y/y. A significant surprise in CPI reports indicating higher inflation is likely to be bullish for the broader U.S. dollar. Conversely, a weak CPI report would likely be a headwind.
The article explores pivotal technical levels for USD/JPY, GBP/USD, and AUD/USD that may act as support or resistance in the event of large price movements in future trading sessions.
