Daily insights for CFD traders – Focus on US CPI Data

Stay informed with CA Markets’ daily market update, providing the latest trends and insights in Forex and CFD trading. Our comprehensive analysis and expert advice are designed to keep you informed and ahead in CFD trading. Whether you’re navigating currency pairs or exploring diverse asset classes, our updates offer valuable perspectives to optimize your trading strategies. Trust CA Markets to deliver timely market analysis that empowers your decisions and enhances your trading experience.

Market Recap

The overnight session for currencies was subdued, encouraging global equities to gain ground, with the S&P500 reaching a new high of 5,600. The AUD/USD held a tight range between 0.6733 and 0.6752, while the greenback showed slight weakness into the London lunch. Key currency movements included EUR/USD reaching highs of 1.0829, GBP/USD at 1.2812, and USD/JPY dipping below 161.50. Notably, GBP/USD experienced a significant movement, rising around 40 points to 1.2847 after Bank of England commentary indicated a more hawkish stance than anticipated.

Day Ahead

Today, the focus will be on the US Consumer Price Index (CPI) for June. Following a favorable reading in May, the consensus expects the core MoM figure to come in at +0.2%. This would support continued disinflation and likely be received positively by the markets. Currency pairs, particularly AUD/USD, are expected to remain in a holding pattern, with significant activity around the 0.6750 resistance and 0.6650/80 support levels.

Economic Data to Watch

  • New Zealand – June Food Prices MoM
  • Australia – July Consumer Inflation Expectations
  • Germany – June CPI EU Harmonized m/m
  • United Kingdom – May Index of Services m/m, May Industrial Production m/m, May Manufacturing Production m/m, May Monthly GDP m/m, May Trade Balance
  • United States – June CPI, Initial Jobless Claims, Fed’s Bostic and Musalem Speak


The information provided in this daily market update is for informational purposes only and should not be considered as financial advice. Trading Forex and CFDs involves significant risk of loss and may not be suitable for all investors. Past performance is not indicative of future results. CA Markets does not guarantee the accuracy or completeness of the information provided, and we recommend consulting with a qualified financial advisor before making any trading decisions. Users are solely responsible for their own trading activities and decisions.