Topic: Trade Bitcoin with FreshForex (Read 3109 times)

The GBP/USD pair traded in positive territory for the third consecutive day around 1.3185 on Friday during Asian trading hours. Sustained weakness in the US dollar (USD) provides some support to the major pair. Market participants will be keeping a close eye on the US Non-Farm Payrolls data for August (NFP) due out later on Friday.

On Thursday, Automatic Data Processing (ADP) reported that private sector employment grew at the weakest pace in three and a half years in August. The US private sector added 99,000 new jobs in August, down from a downwardly revised 111,000 in July and below the forecast of 145,000.

Markets expect the Federal Reserve (Fed) to cut interest rates at its 17-18 September meeting. Later in the day, the Bureau of Labour Statistics will release the much-anticipated non-farm payrolls report, which is expected to show that the US economy added 160,000 jobs in August. This report has been a key event in shaping market expectations for the Fed Funds rate. A weaker than expected result could trigger a significant Fed rate cut and further undermine the dollar.

On the other hand, modest expectations of an interest rate cut by the Bank of England (BoE) are boosting the Pound Sterling (GBP). Last month, Bank of England Governor Andrew Bailey said that he believes long-term inflationary pressures are easing, but that there is no rush to cut rates further as it is too early to declare victory over inflation. Investors believe that the probability that the Bank of England will cut interest rates at the meeting on 12 September is about 25%, but the probability of a rate cut is fully embedded in the November price.

Trading recommendation: Trade predominantly with Buy orders from the current price level

#NVIDIA shares plunged by 9.5% due to an antitrust investigation by the U.S. Department of Justice. This drop resulted in a $279 billion loss in NVIDIA's market capitalization, marking the largest single-session stock decline in the history of U.S. public companies.

FreshForex experts have analyzed the key risk factors affecting the company’s stock value:

• Antitrust investigation: The crash was triggered by a Bloomberg report that the U.S. Department of Justice (DOJ) has launched an antitrust investigation into #NVIDIA. Authorities suspect the company of abusing its dominant market position, making it difficult for customers to switch to other suppliers. According to sources, the DOJ has requested data from #NVIDIA that may form the basis of a lawsuit against the company.
• Impact of insider trading: xperts suggest that insider information about the investigation could have triggered the sell-off of #NVIDIA shares, which has caught the attention of the U.S. Securities and Exchange Commission (SEC).
• Financial performance and recession risk: Despite the stock drop, #NVIDIA's financial performance remains strong: revenue in the second quarter of the 2025 fiscal year increased by 122%, reaching $32.5 billion, while net income was $16.6 billion. The majority of the company’s revenue comes from data center products, including AI processors.

However, concerns about a possible U.S. recession and investor skepticism over the return on investments in AI infrastructure continue to pressure the market. Experts are comparing the current situation to the dot-com bubble of the 1990s, which led to a global market collapse.

• NVIDIA’s rise and fall in 2024: Since the beginning of 2024, #NVIDIA shares have risen by 118%, and on June 20, the company briefly became the world's most valuable public company with a market cap of $3.46 trillion. However, by the end of June, the stock had dropped by 13%, resulting in a $430 billion loss in capitalization.

Despite its strong financial performance, NVIDIA faces serious market and legal challenges that could impact its future development. It’s important to note that the demand for innovative technologies could shift the situation, and the tech giant’s growth remains possible.

EUR/USD trades close to 1.1080 during the Asian session on Thursday.

The dollar weakened after the publication of the July JOLTS report on the number of open job vacancies in the US, which failed to meet expectations and pointed to a further slowdown in the labour market. Job openings fell to 7.673 million in July, down from 7.910 million in June. This is the lowest level since January 2021 and below market expectations of 8.10 million.

Traders are now awaiting the release of ISM services PMI and US initial jobless claims scheduled for Thursday. On Friday, attention will shift to US non-farm payrolls (NFP) data for more information on the potential size of the Federal Reserve's (Fed) expected rate cut this month.

Atlanta FRB President Raphael Bostic said on Wednesday that the Fed is in a favourable position, but added that it should not maintain restrictive policy for too long, according to Reuters. FXStreet's FedTracker system, which rates the tone of Fed officials' speeches on a dovish to hawkish scale of 0 to 10 using a proprietary artificial intelligence model, rated Bostic's words as neutral with a score of 4.6.

In the eurozone, the producer price index rose 0.8 per cent month-on-month in July, the biggest increase since December 2022. This followed an upwardly revised 0.6% increase in June and was well above market forecasts of 0.3%. However, the eurozone services PMI fell to 52.9 in August from 53.3 in the previous month. Meanwhile, the composite PMI fell to 51.0, missing expectations and below the previous reading of 51.2, which was expected to be unchanged.

The Euro could face trouble amid strong speculation that the European Central Bank (ECB) will cut interest rates in September. This would be the ECB's second interest rate cut since it began to move towards policy normalisation in June. Policymakers remain confident that inflation will gradually return to the 2% target by 2025.

Trading Recommendation: Watch the level of 1.1110, if the level is fixed above we take Buy positions, if the level bounces back we take Sell positions.

The Japanese Yen (JPY) continues to strengthen against the US Dollar (USD) following the release of Jibun Bank's Services PMI data on Wednesday. The index was revised to 53.7 in August from an initial estimate of 54.0. Despite this being the seventh consecutive month of growth in the services sector, the latest reading was unchanged from July.

Japan's Chief Cabinet Secretary Yoshimasa Hayashi said on Wednesday that he was ‘closely monitoring developments in domestic and international markets with a sense of urgency.’ Hayashi emphasised the importance of pursuing fiscal and economic policies in close coordination with the Bank of Japan (BoJ). He also emphasised the need to calmly assess market movements, but declined to comment on daily stock fluctuations.

The US Dollar is receiving support as traders are cautious ahead of the release of US employment data, particularly the August Non-Farm Payrolls (NFP). This data may provide additional information on the possible timing and extent of Federal Reserve (Fed) rate cuts.

Trading recommendation: We follow the level of 144.90, if it is fixed below, we consider Sell positions, if it rebounds, we consider Buy positions.

The GBP/USD pair is trading on a weak note near 1.3120 in the early European session on Tuesday. The major pair's decline is being fuelled by a strengthening US Dollar (USD) ahead of key economic data releases from the US. Bank of England (BoE) Deputy Governor Sarah Breeden will speak later on Tuesday, followed by the release of the US manufacturing Purchasing Managers' Index (PMI) from ISM.

Investors increasingly believe the US Federal Reserve (Fed) will begin easing monetary policy at its upcoming meeting in September, estimating the probability of a 25 basis points (bps) rate cut at nearly 69%, according to CME's FedWatch tool. Fed Chairman Jerome Powell not only said at the annual symposium in Jackson Hole last month that ‘it is time for a policy adjustment.’

More Fed rate cuts could put pressure on the US dollar in the near term. Analysts at Rabobank currently expect four Fed rate cuts between September and January, and then a rate hold until the end of 2025. Friday's US Non-Farm Payrolls (NFP) report will be more significant than usual and could provide some hints on the size and pace of Fed rate cuts. The US economy is expected to have added 163,000 jobs in August and the unemployment rate is expected to have fallen to 4.2%.

On the other hand, markets expect the Bank of England not to cut the rate at the September meeting, while there is an 87.2% chance of a 25bp rate cut at the November meeting. In the absence of crucial economic data from the UK this week, dollar price dynamics will be the main driver for GBP/USD.

Trading recommendation: Trade mainly with buy orders at the price level of 1.3160. We consider sell orders at the price level of 1.3090.

The EUR/USD exchange rate ended a three-day losing streak on Monday, trading near 1.1050 during the Asian session. The increase in EUR/USD can be attributed to a decline in the value of the US dollar (USD) in response to the dovish stance adopted by the US Federal Reserve (Fed). However, the July US Personal Consumption Expenditure (PCE) index may provide support for the USD, limiting the potential for the pair to rise further.

On Friday, the US Bureau of Economic Analysis reported that the core personal consumption expenditure (PCE) price index rose 2.5% year-on-year in July, matching the previous reading of 2.5% but falling short of the forecast of 2.6%. Meanwhile, the core PCE index, which excludes volatile food and energy prices, saw a 2.6% year-on-year increase in July, matching the previous reading of 2.6%. This figure was slightly below the consensus forecast of 2.7%.

The CME FedWatch Tool indicates that the market anticipates a 25-basis-point reduction in the Federal Reserve interest rate at the upcoming September meeting. Atlanta Fed President Rafael Bostic, one of the most prominent hawks on the FOMC, stated last week that it may be an opportune time to consider a rate cut due to further cooling inflation and higher-than-expected unemployment. The FXStreet FedTracker indicator, which rates the tone of Fed officials' speeches on a dovish to hawkish scale of 0 to 10 using a special artificial intelligence model, rated Kashkari's words as neutral with a score of 5.6.

European Central Bank (ECB) Governing Council member François Villeroy de Galhau stated on Friday, according to Bloomberg, that there are 'good reasons' for the central bank to consider cutting its key interest rate in September. Mr. de Galhau suggested action at the upcoming meeting on 12 September, noting that a decision on a new rate cut would be fair and prudent.

Trade recommendation: Trading predominantly Buy orders from the current price level.

Following the release of Tokyo Consumer Price Index (CPI) data on Friday, the Japanese Yen (JPY) is showing signs of recovery against the US Dollar (USD). The Bank of Japan's (BoJ) hawkish stance on monetary policy is reinforced by rising inflation in Tokyo, which in turn supports the Japanese Yen and exerts downward pressure on the USD/JPY pair.

The Tokyo Consumer Price Index (CPI) increased to 2.6% year-on-year in August, up from 2.2% in July. The core CPI also increased to 1.6% year-on-year in August, up from the previous reading of 1.5%. Furthermore, Japan's unemployment rate saw an unexpected increase to 2.7% in July, above the market estimate and June's 2.5%. This represents the highest rate since August 2023.

The decline in the USD/JPY may be limited as the US dollar maintains its recent gains following the release of stronger-than-expected economic data on Thursday. However, dovish comments from the Federal Reserve may curb further dollar strength.

Trade recommendation: Trading mainly by Buy orders from the current price level.

The GBP/USD pair is back to the 29-month high set on Tuesday at 1.3266. The pair is being helped by renewed selling in the US Dollar despite the prevalence of risk-off-oriented flows following disappointing guidance from US AI titan Nvidia.

The diverging monetary policy outlook between the US Federal Reserve (Fed) and the Bank of England (BoE) also remains in favor of the GBP/USD uptrend.

ECB Governing Council member Klaas Knot said on Wednesday that he is waiting for more information before deciding whether to support an interest rate cut in September. Nevertheless, markets expect the ECB to cut borrowing costs next month amid easing price pressures and an uncertain economic outlook.

Stronger-than-forecast economic data in recent months and optimism about the new Labor government are supporting the British pound. Comments from Bank of England (BoE) Governor Andrew Bailey also support the British Pound. Bailey stated that “policy should remain restrictive for long enough until the risks of inflation holding steady around the 2% target over the medium term dissipate. Therefore, the exchange rate will be sustainable.” According to a Reuters poll, economists expect another 25 basis points (bps) rate cut from the Bank of England this year

Trading recommendation: Trade mainly with buy orders at the price level of 1.3220. Consider sell orders at the price level of 1.3170.

The Japanese yen (JPY) declined slightly against the US dollar (USD) on Wednesday. However, conflicting outlooks from the Bank of Japan (BoJ) and the Federal Reserve (Fed) are putting downward pressure on the USD/JPY pair. Bank of Japan Governor Kazuo Ueda told parliament on Friday that the central bank may consider further interest rate hikes if its economic forecasts prove accurate.

The yen's decline may be limited by hawkish sentiment around the Bank of Japan (BoJ). Meanwhile, Fed Chairman Jerome Powell noted at a symposium in Jackson Hole that ‘the time has come for policy adjustment.’ However, Powell did not specify the timing and magnitude of potential rate cuts.

In addition, San Francisco Fed President Mary Daly said in an interview with Bloomberg TV on Monday that ‘it's time’ to start cutting interest rates, probably by a quarter of a percentage point.

According to the CME FedWatch Tool, markets fully expect the Federal Reserve to cut rates by at least 25 basis points (bps) at its September meeting.

Trading recommendation: Trade predominantly with Sell orders from the current price level

At the start of the new trading week, the GBP/USD exchange rate saw a slight decline, falling below 1.3200 on Monday. This marks the end of a seven-day winning streak that saw the pair rise more than 3% from 1.2800 to a 29-month high of 1.3230.

UK markets were closed on Monday due to a bank holiday, which had the effect of reducing the volume of sterling flows and providing a boost to the US dollar. Following a period of heightened risk appetite, markets are currently adopting a more cautious stance in light of the Federal Reserve's indication that a rate cut is likely to occur in September, barring any significant shifts in economic data.

The economic calendar for the upcoming trading week is expected to be relatively inactive. On Thursday, the anticipated figure for US gross domestic product (GDP) for the second quarter is expected to remain unchanged at an annualised rate of 2.8%. The focus on Friday will be on the July core Personal Consumption Expenditure (PCE) price index, which is expected to remain unchanged at 0.2% month-on-month. The year-on-year PCE inflation rate is forecast to increase from 2.6% to 2.7%. Nevertheless, investors anticipate that inflation is approaching the Federal Reserve's 2% target, which may result in a rate cut in September.

US durable goods orders saw an unexpected increase of 9.9% in July compared to the previous month, exceeding the projected 4.0% and reversing a revised contraction of -6.9% in June. However, concerns persist as, when excluding transport costs, durable goods orders declined by -0.2% month-on-month, worse than the anticipated 0.0% and 0.1% in June, which were revised down from 0.5%.

Trading recommendation: Trading predominantly Buy orders from the current price level.

The EUR/USD pair continues to rise for the second session, trading near 1.11900 during the Asian session on Monday. The rise in EUR/USD is attributed to the decline in the US dollar following a dovish speech by US Federal Reserve (Fed) Chairman Jerome Powell at a symposium in Jackson Hole on Friday.

Fed Chairman Jerome Powell stated, “The time has come for policy adjustment.” Although Powell did not specify when the rate cut would begin or what its potential size would be, markets expect the U.S. central bank to announce a 25 basis point rate cut at its September meeting.

In addition, Philadelphia Fed President Patrick Harker emphasized on Friday the need for the U.S. central bank to gradually lower interest rates. Meanwhile, Chicago Fed President Austan Goolsbee noted that monetary policy is currently as restrictive as possible and the Fed is now focused on achieving its employment mandate.

As for the euro, European Central Bank (ECB) Governing Council member Olli Rehn said on Friday that slowing inflation along with weakness in the eurozone economy strengthen the case for lower borrowing costs next month, Bloomberg reported. Growth prospects in Europe, especially in the manufacturing sector, are quite weak, strengthening the case for a rate cut in September.

Trading recommendation: Trade predominantly with Buy orders from the current price level

The EURUSD pair is regaining positive momentum today and for the moment seems to have paused its pullback from the one-year high reached on Wednesday. Spot prices are currently trading around 1.1125.

Data released on Wednesday showed that US job growth in the last year to March was much weaker than originally anticipated. In addition, a rise in weekly initial jobless claims pointed to a cooling labour market, which, along with a decline in the US manufacturing PMI, suggests that the economy is in danger of slowing down. This, in turn, confirms market forecasts of an imminent start to the Federal Reserve (Fed) rate-cutting cycle in September and does not help the dollar to capitalise on a nice bounce from its low since the start of the year. This largely overshadowed the mixed Eurozone PMI data released on Thursday and is proving to be a key factor providing some support for EUR/USD.

Indeed, the preliminary composite Eurozone PMI from S&P Global came in at 54.1 compared to the forecast of 53.5, although it showed a slight decline from 54.3 in the previous month. Meanwhile, business activity in Germany, the Eurozone's largest economy, contracted for the second consecutive month and more than expected. In addition, wage growth in the Eurozone slowed to 3.55 per cent in Q2 2024 from 4.74 per cent in Q1 2024. This in turn strengthens the case for two more rate cuts by the European Central Bank (ECB) this year. This could deter traders from aggressively bullish bets on the common currency and limit any meaningful strengthening movement in EUR/USD.

Meanwhile, reports from the ECB's July meeting indicated that the September meeting was perceived as an appropriate time to reassess the level of monetary policy tightening. In addition, ECB Governing Council member Martins Cazacs expressed confidence that inflation will return to the 2% level and also said that he is willing to discuss another interest rate cut at the September meeting. Thus, any further upward movement could face some resistance, although bearish sentiment around the US Dollar may continue to act as a tailwind for EUR/USD.

Trading recommendation: Trade predominantly with Buy orders from the current price level

Gold prices (XAUUSD) have reached a new all-time high, surpassing $2,550 per ounce for the first time in history.

Our long-term forecast from April 18, 2024, is coming true, with gold rising over $120 per ounce and steadily pushing towards new records.

Factors driving gold prices and expert opinions:

• Major central bank purchases: Gold prices are rising due to significant metal purchases by central banks, boosting its value.
• Geopolitical instability: Increased geopolitical instability, particularly in the Middle East, is driving demand for gold as a safe haven. Ongoing conflicts in various regions also contribute to the rising prices.
• Fed rate cut expectations: Investors anticipate a potential rate cut by the U.S. Federal Reserve, making gold a more attractive option. According to CME, there's a 75.5% probability of a rate reduction from the current 5.25–5.5% to 5–5.25%, enhancing gold's appeal.
• Growth projections: Analysts at ING and other financial institutions predict that gold prices will peak in the fourth quarter of this year, potentially reaching $2,700 per ounce by year-end and $3,000 in the long term.

Trade 13 precious metal contracts with a favorable leverage of 1:1000 with FreshForex!

Traders expect Bank of Japan (BoJ) Governor Kazuo Ueda to address parliament on Friday, where he will discuss the central bank's decision to raise interest rates last month.

A Reuters poll conducted from 13 to 19 August and published on Wednesday showed 31 of 54 economists expect the BoJ to raise borrowing costs before the end of the year. The median forecast points to a 25 basis point hike, bringing the year-end rate to 0.50 per cent.

The US Dollar (USD) rose on Thursday, helped by a small recovery in Treasury yields. However, USD gains may be limited as the Federal Reserve is expected to cut rates by 100 basis points (bps) in 2024. Market analysts remain divided on whether the Fed will cut rates by 25 or 50 basis points at its September meeting.

According to the CME FedWatch Tool, the probability of the Fed cutting the Fed Funds rate by 25 basis points (bps) at its September meeting is 65.5%, up from 71.0% a day ago. The probability of a 50 basis point rate cut rose to 34.5% from 29.0% a day earlier.

Trading recommendation: Trade mainly with buy orders at the price level of 145.90. We consider sell orders at the price level of 145.20.

GBP/USD added another third of a percent on Tuesday, hitting a new 13-month high and closing in the greenback for the third consecutive day as sterling takes advantage of the dollar's weakness in the broad market. Market sentiment is holding high ahead of the release of key business survey results and the upcoming start of the Jackson Hole Economic Symposium.

Wednesday will give markets another opportunity to take a breather before the release of important data in the second half of the trading week. August UK Purchasing Managers' Index (PMI) data is expected to rise slightly, with the services PMI component expected to rise to 52.8 from 52.5. The manufacturing PMI is expected to remain unchanged at 52.1.

Thursday will see the release of the US PMI business activity survey and the start of the annual Jackson Hole Symposium, which runs through the weekend. Wednesday will see the release of the minutes from the latest Federal Reserve (Fed) meeting, but overall markets will be focused on Thursday's results for reasons to move.

The S&P Global PMI US Manufacturing PMI for August is expected to be unchanged at 49.6, while the Services PMI is expected to drop a full point to 54.0 from 55.0. The start of the Jackson Hole Symposium is expected to attract investors' attention on Thursday, but Fed Chairman Jerome Powell's speech on Friday will set the general tone for market sentiment early next week.

Trading recommendation: We are watching the level of 1.3050. If the level is fixed above, we consider Buy positions, if the level rebounds, we consider Sell positions.

EUR/USD rose on Monday as investors started the new trading week by buying euros in the broad market. The price has consolidated at 1.1080 and and is aiming for 1.1100. Recently, poor data from the US has renewed investor fears of an impending recession in the US.

The middle of the week is quiet as markets await key PMI data from the EU and the US as well as the start of this year's Jackson Hole Economic Symposium. All three of these events are expected to hit the markets on Thursday.

The EU purchasing managers' index (PMI) is expected to rise in August. The EU manufacturing PMI for the month is expected to rise to 46.0 from 45.8, while the services PMI for the same period is expected to remain at 51.9.

On the other side of the Atlantic, US PMI data is expected to soften on Thursday. The US manufacturing PMI for August is expected to fall slightly to 49.5 from 49.6, while the services PMI is expected to fall a full point to 54.0 from 55.0.

At the Jackson Hole Economic Symposium, which kicks off a multi-day central bank extravaganza on Thursday, investors around the world will be watching for any signals from Fed policymakers on the likelihood of a Fed rate cut in September.

The latest bets for a double rate cut in September have fallen significantly since peaking at 70% two weeks ago. According to CME's FedWatch tool, the betting markets rate the probability of a 50 bps rate cut. Sept. 18 as one in five. Overall, markets are still fully factoring in the likelihood of a 25 bps rate cut in September, with three or four quarter-point rate cuts expected before the end of the year.

Trading recommendation: Trade predominantly with Buy orders from the current price level

The Japanese yen (JPY) is appreciating against the US dollar (USD) for the second consecutive day amid hawkish sentiment towards the Bank of Japan (BoJ). The latest data on Japan's second quarter GDP growth confirms the possibility of an interest rate hike by the BoJ in the near future.

Japan's machinery orders, a key indicator of capital spending, rose 2.1% month-on-month in June, exceeding the forecasted 1.1% increase. Markets await Japan's inflation data later this week to get further insight into the direction of the Bank of Japan's monetary policy.

The US Dollar continues to lose ground after dovish comments from Federal Reserve (Fed) officials that reinforced expectations of an interest rate cut by the US central bank in September. In addition, US economic data last week showed that the Producer Price Index (PPI) and Consumer Price Index (CPI) indicated weakening inflation.

Federal Reserve Bank of San Francisco President Mary Daly on Sunday emphasized that the U.S. central bank should take a gradual approach to reducing borrowing costs, the Financial Times reported. In addition, Federal Reserve Bank of Chicago President Austan Goolsbee warned that central bank officials should be cautious about pursuing restrictive policies longer than necessary.

Trading recommendation: Trade predominantly with Sell orders from the current price level

The Japanese Yen (JPY) bounced back against the US Dollar (USD) on Friday, possibly due to Japan's recent second quarter GDP growth, which supports the possibility of a Bank of Japan (BoJ) interest rate hike in the near future.

However, the Yen could face challenges from political uncertainty in Japan due to reports that Prime Minister Fumio Kishida will not seek re-election as party leader in September, effectively ending his term as Prime Minister.

The USD/JPY pair is declining as the US dollar loses ground amid lower Treasury yields. In addition, traders are fully pricing in the likelihood of a 25 basis point rate cut by the US Federal Reserve in September, according to the CME FedWatch tool.

However, the dollar received support as recent better-than-expected US economic data eased market fears of a US recession. In addition, later in the North American session, preliminary data on Michigan consumer sentiment index for August and building permits for July will be released.

Trading recommendation: Trade predominantly Sell orders from the current price level

It really depends on what type of trader you are. I never could get the hang of forex but I love the S&P. Fuck knows what trading style works for forex but indices accommodate all styles imo.

GBP/USD retreated and fell below 1.28500 on Wednesday after Consumer Price Index (CPI) inflation fell on both sides of the Atlantic, breaking the Pound's four-day winning streak. Traders will be awaiting UK gross domestic product (GDP) growth data and US retail sales.

UK GDP growth for the quarter is expected to fall to 0.6% from a previous reading of 0.7%, while UK GDP year-on-year is expected to rise to 0.9% from a previous reading of 0.3%. In the US, retail sales for the month are expected to rise to 0.3% after 0.0% in June.

US CPI inflation came in at 2.9% y/y in July, slightly below the expected 3.0%. Core inflation also fell to 3.2% y/y from the previous reading of 3.0%. Both core and core monthly CPI rose 0.2% mom in July, exceeding forecasts of 0.15% and 0.17% for core and core CPI, respectively.

Despite the decline in consumer inflation, investors were expecting an even lower reading following this week's US Producer Price Index (PPI), which showed a greater reduction in producer-level price pressures. However, it appears that the reduction in price pressures is not being passed on directly to consumers. According to CME's FedWatch tool, the betting markets currently estimate the probability of a double rate cut by the Federal Reserve (Fed) on September 18 at only 40%, down from 50% at the start of the week and 70% the previous week.

The UK Consumer Price Index rose year-on-year in July but fell short of average market forecasts, coming in at 2.2% versus the expected 2.3%. This figure is still above the previous reading of 2.0%, while the core inflation index fell to 3.3% from the previous reading of 3.5%.

Trading recommendation: Trade mainly with buy orders at the price level of 1.2850. We consider sell orders at the price level of 1.2810.