Gold Price, Nasdaq 100 at Risk of Larger Correction after Hot US CPI Data. Why? DailyFX

Image for article Gold Price, Nasdaq 100 at Risk of Larger Correction after Hot US CPI Data. Why?  DailyFX
News Source : DailyFX

News Summary

  • While the outlook could change with the introduction of new information, traders should exercise caution for now, avoiding blindly chasing suspicious rallies.If you're looking for an in-depth analysis of U.S. equity indices, our first-quarter stock market forecast is packed with great fundamental and technical insights..
  • On that note, yields are likely to resume their advance once the dust settles, but to get a better sense of their trajectory, traders should closely follow Fedspeak.The following chart shows recent inflation trends for both the headline and core indicator.Looking for actionable trading ideas?.
  • This means that new all-time highs for the precious metal and the technology index may have to wait a bit longer.On the inflation front, the December CPI report surprised to the upside, with the all-items index accelerating to 3.4% from 3.1% prior..
  • Get the full trading guide now!DailyFX provides forex news and technical analysis on the trends that influence the global currency markets..
  • Share:Most Read: US Dollar Bid as Sticky CPI Poses Dilemma for Fed, Setups on EUR/USD, GBP/USDGold prices and the Nasdaq 100 could be at risk of a larger downward correction following the latest set of consumer price and unemployment claims figures released on Thursday..
Gold and the Nasdaq 100 present an unattractive riskreward profile at this precise moment following recent U.S. economic dataWith U.S. inflation running above the 2.0% target and th [+3234 chars]

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