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There are several important events coming out of the U.S. and Europe today, including the U.S Core CPI and FOMC Meeting Minutes. These events always provide for extreme market volatility in the major currency pairs. Traders may find good opportunities to enter the market following these vital announcements.<\/p>\n
<\/span>The strongest instrument for today is the USD and Gold. The USD continues to show bullish activity against the JPY and CHF.<\/p>\n Gold experienced another day of appreciation as it is currently traded around $925.70. If the U.S. publishes positive economic news, then Gold prices are set to continue their bullish run into the rest of the week.<\/p>\n 12:30 GMT: U.S. Core CPI<\/strong><\/p>\n \u00b7 The Consumer Price Index is a leading indication of inflation, measuring the price increase\/decrease that US consumers pay. <\/p>\n \u00b7 This figure is forecasted to make a slight improvement from the previous reading, meaning prices are growing.<\/p>\n \u00b7 A slight increase in prices represents a slight increase in market growth, which is positive for the economy. <\/p>\n \u00b7 After this release, it might create volatility in the market. <\/p>\n \u00b7 Very positive results will push the USD further up as it signals that demand for US goods has increased.<\/p>\n 18:00 GMT: FOMC Meeting Minutes<\/strong><\/p>\n \u00b7 The US Federal Open Market Committee (FOMC) meets to discuss monetary policy decisions, such as interest rates.<\/p>\n \u00b7 This meeting is very important as its decisions directly impact the value of the USD. <\/p>\n \u00b7 Traders are advised to watch closely, as the release of these minutes may carry indications for future monetary policy decisions. <\/p>\n \u00b7 Traders should pay close attention to the market as there is an opportunity to capitalize on the fluctuations which are likely to follow this release<\/p>\n Gold Tips:<\/strong><\/p>\n \u00b7 Gold’s recent upward movement has pushed its technical indicators into showing that a downward move is on the way<\/p>\n \u00b7 On the other hand, long-term indicators, such as those on the daily chart, show that there remains a strong level of support to Gold prices<\/p>\n \u00b7 Most indications today are for a sharp volatile jump, likely to happen around the opening of the US market at 13:00 GMT, or even sooner.<\/p>\n \u00b7 An upward jump will have a target price of $940; a downward drop will have a target price of $890.<\/p>\n