There are a couple to take note of on the board for today, as highlighted in bold below.
The first one is for EUR/USD at the 1.1650 level. It's not one that ties to any technical significance so the impact should be relatively muted. But if anything else, it will help to keep any major extensions of price action as traders are all waiting on the US CPI report later before moving.
The same will apply to the one for USD/CAD at the 1.3750 level, though the 100-hour moving average is nearby at 1.3754. But all in all, traders will have very little appetite to be chasing any moves before the inflation data.
As such, expect a quieter mood for major currencies until we get to the main event. Then, it will be all about reacting to the numbers and digesting what that will mean for the Fed outlook.
For more information on how to use this data, you may refer to this post here.
Head on over to investingLive (formerly ForexLive) to get in on the know!
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