{"id":75340,"date":"2024-01-08T11:35:16","date_gmt":"2024-01-08T09:35:16","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=75340"},"modified":"2025-12-09T15:00:05","modified_gmt":"2025-12-09T13:00:05","slug":"attention-turns-towards-us-december-cpi-rates","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/en\/attention-turns-towards-us-december-cpi-rates\/","title":{"rendered":"Attention turns towards US December CPI rates"},"content":{"rendered":"\n<p>The USD got some support from the far better-than-expected US employment report for December, yet any gains made were quickly relented and the greenback stabilised somewhat. It should be noted that the employment data showed that the unemployment rate remained unchanged at the low level of 3.7% and the NFP figure rose unexpectedly to 216k. It should be noted that the release shook the markets and for a short period forced it to revise its expectations for six rate cuts in 2024 to five, yet that was reversed later on. Overall, the release underscored the resilience of the US employment market and supported the Fed\u2019s narrative of fewer and delayed rate cuts. Yet overall the market\u2019s behaviour tends to underscore its disbelief to the possibility of fewer rate cuts by the Fed. Gold\u2019s price slid lower during today\u2019s Asian session &nbsp;from the rise of US yields, while US stock markets ended their day mixed and prepare for the kickoff of the earnings season. We expect the market\u2019s attention in this week to be placed on the release of the US CPI rates for December, due out on Thursday, and should rates fail to slow down we may see the USD gaining.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Japan&#039;s Tokyo CPI rates due out tomorrow\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/nYJH7dWY5-c?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>On a technical level, despite some increased volatility the USD remained relatively unchanged against the EUR, with EUR\/USD staying between the 1.1010 (R1) and the 1.0890 (S1) levels. Given the movement in the past 48 hours and that the RSI indicator continues to run just below the reading of 50, we tend to maintain our bias for the sideways motion to continue until the market decides on the direction of the pair\u2019s next leg. Should the bulls take over, we may see the pair breaching the 1.1010 (R1) resistance line and aiming for the 1.1135 (R2) resistance level. Should the bears be in charge, we may see EUR\/USD breaching the 1.0890 (S1) support line and aiming for the 1.0740 (S2) support level.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today in the European session, we note the release of Germany\u2019s industrial orders for November and trade data for the same month, from Switzerland we get December\u2019s CPI rates and from the Eurozone we get January\u2019s Sentix index. In the American session, we note that Atlanta Fed President Bostic is scheduled to speak. During tomorrow\u2019s Asian session, we get from Japan November\u2019s All household spending growth rates and December\u2019s Tokyo CPI rates, while from Australia we note the release of November\u2019s building approvals and retail sales.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>AUD\/USD despite testing the 0.6725 (R1) resistance line, proved unable to clearly break it. For the time being we tend to maintain our bias for a sideways motion, yet note the symmetrical triangle that\u2019s being formed and may allow the pair to break out. Should the pair find extensive buying orders along its path we may see AUD\/USD breaking the 0.6725 (R1) resistance line and aiming for the 0.6820 (R2) resistance level. Should the selling interest be extended, we may see the pair breaking the 0.6620 (S1) support line and aiming for the 0.6515 (S2) support base. &nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>On Tuesday, we note Germany\u2019s industrial production rate both for November and lastly Canada\u2019s Trade balance figure for November. On a quiet Wednesday, we note Australia\u2019s CPI rate for November and Norway\u2019s CPI rate for December. On Thursday, we note Australia\u2019s trade balance figure for November, followed by the Czech Republic\u2019s and the US CPI rates both for the month of December and closing off the day is the US weekly initial jobless claims figure. Finally, on a busy Friday, we note China\u2019s PPI and CPI rates and trade balance figure all for the month of December, followed by the UK\u2019s Preliminary GDP rate, Industrial output rate and Manufacturing output growth rates all for the month of November, France\u2019s Final HICP rates and the US PPI rates both for December.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-h4-chart\"><strong>EUR\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2024\/01\/image-28.png\" alt=\"US December CPI\" class=\"wp-image-75341\" title=\"eur-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0890 (S1), 1.0740 (S2), 1.0615 (S3)<\/p>\n\n\n\n<p>Resistance: 1.1010 (R1), 1.1135 (R2), 1.1275 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-h4-chart\"><strong>AUD\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2024\/01\/image-29.png\" alt=\"US December CPI\" class=\"wp-image-75342\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6620 (S1), 0.6515 (S2), 0.6400 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6725 (R1), 0.6820 (R2), 0.6895 (R3) <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2001\" height=\"491\" src=\"\/wp-content\/uploads\/2024\/01\/image-30.png\" alt=\"US December CPI\" class=\"wp-image-75343\" title=\"benchmark-08-01-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1061\" height=\"614\" src=\"\/wp-content\/uploads\/2024\/01\/image-33.png\" alt=\"\" class=\"wp-image-75346\" title=\"table-08-01-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1744\" height=\"763\" src=\"\/wp-content\/uploads\/2024\/01\/image-31.png\" alt=\"\" class=\"wp-image-75344\" title=\"morning-releases-08-01-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"768\" src=\"\/wp-content\/uploads\/2024\/01\/image-32.png\" alt=\"\" class=\"wp-image-75345\" title=\"morning-releases-08-01-2024\"\/><\/figure>\n\n\n\n<p>If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:reseach_team@ironfx.com\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The USD got some support from the far better-than-expected US employment report for December, yet any gains made were quickly<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-75340","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>US December CPI: Markets Focus Ahead of Key Inflation Data<\/title>\n<meta name=\"description\" content=\"Market attention shifts to the US December CPI as traders gauge inflation trends, USD direction, and potential Fed rate-cut expectations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/en\/wp-json\/wp\/v2\/posts\/75340\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Attention turns towards US December CPI rates\" \/>\n<meta property=\"og:description\" content=\"Market attention shifts to the US December CPI as traders gauge inflation trends, USD direction, and potential Fed rate-cut expectations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/en\/attention-turns-towards-us-december-cpi-rates\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-08T09:35:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-09T13:00:05+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/attention-turns-towards-us-december-cpi-rates\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/attention-turns-towards-us-december-cpi-rates\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"Attention turns towards US December CPI rates\",\"datePublished\":\"2024-01-08T09:35:16+00:00\",\"dateModified\":\"2025-12-09T13:00:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/attention-turns-towards-us-december-cpi-rates\\\/\"},\"wordCount\":774,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/attention-turns-towards-us-december-cpi-rates\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/attention-turns-towards-us-december-cpi-rates\\\/\",\"name\":\"US December CPI: Markets Focus Ahead of Key Inflation Data\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\"},\"datePublished\":\"2024-01-08T09:35:16+00:00\",\"dateModified\":\"2025-12-09T13:00:05+00:00\",\"description\":\"Market attention shifts to the US December CPI as traders gauge inflation trends, USD direction, and potential Fed rate-cut expectations.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/attention-turns-towards-us-december-cpi-rates\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/attention-turns-towards-us-december-cpi-rates\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/attention-turns-towards-us-december-cpi-rates\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Attention turns towards US December CPI rates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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