US PPI data later today to set the tone ahead of North American trading
Yesterday, we got one of the hottest CPI reports in years and the inflation debate will continue on today with the release of US PPI data for April.
The sour mood from yesterday continues to persist
European indices are down by roughly 2% across the board now as the selling in equities intensifies and that is also exacerbated by a drop in US futures as well.
The decent showing yesterday starts to fall apart
European indices showed some resilience yesterday to close a little higher for the most part but are seen tumbling to start the session, in what looks to be a bit of a catchup to the sour mood in US equities yesterday.
A look at what is on the board for today
A couple of sizable ones to be aware of, as highlighted in .
The one foe EUR/USD is where price action resides now, with the key hourly moving averages sandwiching the level @ 1.2080-29.
Tips: Placing stops when trading classic chart patterns
One of the questions traders often ask is where should I place my stops when I am trading classic chart patterns. A classic chart pattern is a Head & Shoulders pattern, a double top, or a symmetrical triangle etc. This article will not go into recognising these patterns, but instead it will give you the
Daily thread to exchange ideas and to share your thoughts
Whether it be due to base effects and perhaps even transitory, the Fed will have its tolerance tested by the market in the coming months if inflation data continues to run hot as we saw with the US CPI print yesterday.
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