Trade ideas thread – European session 12 January 2023

The US CPI data is what everyone is waiting for today, but this is a market that would much prefer a softer number. EUR/USD and AUD/USD are staying cautious as they approach the 0.7000 mark, while the S&P 500 has steadily climbed up to be within range of its 200-day moving average and key trendline resistance again:. How will the inflation numbers play into those plays? What are your views on the current market condition? Please share your thoughts/ideas with the ForexLive community here.