Unless you’ve been distracted with the launch of the new Tesla Model 3, you would have heard that the Consumer Price Growth in the Euro area remained steady at 1.3% in July. This is according to the flash estimate from the European Statistics Agency, as reported by Bloomberg. Core Inflation, which strips out Food and Energy Prices, rose to 1.2%, the highest level in three months.
During the Tokyo Session, Euro edged lower as Yen advanced, Sterling steadied near its highest levels while the Australian Dollar consolidated. As the London Session rounds up, the Dollar rebounded as the Euro eased, Sterling eased, following mixed data from the UK. Swiss Franc declined as the Australian Dollar edged lower. Crude Oil rallied and Gold declined.
Most analysts in the Commodities Market are looking at a Gold uptrend as the Wall Street Session gets underway. It is expected that Gold/ XAUUSD will hit the 1280.0 handle, so you may buy on dip. In the Forex arena, Analysts are watching the EURUSD and anticipating an uptrend to hit the 1.1900 handle. Keep your eyes on the Charts once you place a trade, to know when to bail out, in the case there is an unexpected market reversal.