Thai New Year is coming – Focus U.S. inflation data

The easing trade tension between USA and China also support U.S. dollar gained on Tuesday. Today dollar may continue rising, if inflation data will be good. U.S. core CPI and CPI at 19.30 p.m. in March may give positive for greenback, if they will be higher than forecast. In my opinion, CPI predicts lower to 0.0% because of the cheaper oil price but core CPI may reach 0.2%. According to the reversal pattern, USD/JPY may build complex “Head and shoulders”. If USD rise above 107.50 yen, it may edge higher to 109.40 points. Therefore inflation data may support greenback.

While pound keep its local bullish trend and it may try to break 1.4200 points. If U.K. manufacturing production in February can reach 0.2%, GBP may hold steady. I think pound may reverse after retest resistance lever at 1.4250 points, if U.S. dollar gets positive factors. U.S. crude oil inventories at 21.30 p.m. forecast increasing 0.220 million barrels but Brent may hold above 68 USD because of war in Syria and Trump decision which may strict on Syria.
Tax pulled Bitcoin and altcoin price had edged lower since Monday. Traders sold cryptocurrency and use the profit to pay tax bill. In my opinion, if bitcoin fall lower than 6,550 USD, it may fall lower than 5,940 USD. However, regulation, laws and tax are the signals that many countries are accepted cryptocurrency.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.

Olymp Trade Review