After a slew of better than expected economic data which supports the Fed's new and improved outlook for the state of the U.S. economy, the U.S. Dollar had been trading broadly higher for the better part of the week. That appears to have come to a halt as profit taking is full steam ahead. Goal given the many data points that will be released later today, and consensus expectations that most of those will be positive, profit takers might want to hurry and cash in while the getting is good still.On OpenBook, the favored pair EUR/USD is trading higher at 1.3066, and feeling is slightly bullish though that could change ahead of the opening of the U.S. market. Guru Gavinwright, a EUR/USD bull who has 564 copiers and 3142 followers, closed out several long positions in the entering over the past several hours, with the range of earnings between 2% and 75%.
OpenBook Guru Pyruss, who has 519 copiers and 4208 followers, wants to take advantage of any drop in the price and put in an order to buy at 1.3008 and one short position opened yesterday is already showing a profit. This guru allocates 90.7% of his portfolio to the EUR/USD, which has given him a return of 1.4% over the past six months. Over that period, his total profit of all trades is a respectable 25.1%.
Later today, three key economic indicators will be released in the U.S.; first February's CPI will be reported by the U.S. Bureau of Labor Statistics and it is expected to be unchanged at 2.9%, to be followed afterward by the Michigan Consumer Sentiment Index, which is expected to rise to 76.0 from 75.3. Also, the Federal Reserve will release Industrial Production numbers for February, which analysts forecast will come in at 0.4% higher.
OpenBook Guru Pyruss, who has 519 copiers and 4208 followers, wants to take advantage of any drop in the price and put in an order to buy at 1.3008 and one short position opened yesterday is already showing a profit. This guru allocates 90.7% of his portfolio to the EUR/USD, which has given him a return of 1.4% over the past six months. Over that period, his total profit of all trades is a respectable 25.1%.
Later today, three key economic indicators will be released in the U.S.; first February's CPI will be reported by the U.S. Bureau of Labor Statistics and it is expected to be unchanged at 2.9%, to be followed afterward by the Michigan Consumer Sentiment Index, which is expected to rise to 76.0 from 75.3. Also, the Federal Reserve will release Industrial Production numbers for February, which analysts forecast will come in at 0.4% higher.
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