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What I am Watching Today: US Dollar and CPI
FX Empire· 2026-01-13 13:23
Currency Analysis - The New Zealand dollar is facing resistance at 0.58, with potential for a short position if CPI data meets expectations [1] - A breakdown below 0.57 could indicate further downside for the NZD/USD pair [1] Gold Market Insights - The upcoming CPI figure is expected to significantly impact gold prices in the short term, with a potential pullback anticipated [2] - A target entry point for gold is suggested around the $4,500 level, where significant support is expected [2][3] Nasdaq 100 Outlook - The Nasdaq is forming a strong ascending triangle, indicating a potential upward movement, especially with upcoming CPI data and anticipated quantitative easing [4] - The U.S. government's military budget of $1.5 trillion is expected to inject substantial funds into technology-driven companies, benefiting the Nasdaq 100 [4][5] - The establishment of a Department of Strategic Assets in the U.S. is focused on high-tech sectors, which may further support Nasdaq growth [5] Investment Strategy - Buying pullbacks in the Nasdaq 100 is considered a valid strategy, with support levels down to 25,000 [6] - Current positions in ETFs like QQQ are noted, with a preference for momentum in leveraged accounts [6]