Hey everyone, hope you enjoyed the weekend.
We’re gearing up for a crucial week ahead. As many of you know, this week will feature the release of the US inflation data, which is pivotal for any potential shifts in the Fed’s interest rate policy. Although the Fed currently maintains a restrictive policy, the latest US jobs report showed fewer jobs added than anticipated. Therefore, if the upcoming inflation report also shows a decrease to 3.4% or lower, down from the previous 3.5%, it could significantly fuel speculations that the Fed might consider rate cuts later this year.
However, before we get to the inflation data release on Wednesday, we have another key event to watch: a speech by Fed Chair Powell on Tuesday, which could also trigger considerable market volatility. Currently, the market is in a risk-on mode, and metals did well last week, suggesting the dollar could face downward pressure if these trends from last week continue.
I think for this week, important is to track yeilds! Because when looking at the Dollar Index, there is no clear short-term direction. But on the10 year yields intraday chart, there can be top if we get five waves down.
Join me in webinar later at 15cet HERE
Grega
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