CPI figures are probably the 2nd biggest report after US non-farm payroll. My focus will be on month over month core CPI figure, which is expected at 0.2%. If this number comes out at 0.3% or higher, it would be good for the dollar short term, because it would mean that inflation is still high, despite the flat reading previous month. If the number comes out flat or 0%, it means that inflation has moderated tremendously, second month in a row, so it'll be bad for the dollar. Maybe a 40 pip move.
The Philly Fed Index is expected at 3.0. Philly Fed index is the #1 indicator that's supposed to give timely clues on what the ISM Manufacturing will come out for the month of January, so any significant surprises in the Philly Fed reading can easily move the Euro by 30 pips or more. If the reading comes out at 14 or higher, it would be the highest reading since April of 2005, so it'll be good for the dollar. If the reading comes out at -5 or more negative, it would be the lowest reading in a while, so it'll be bad for the dollar and 30 pips would be my expected target if the trigger is hit.
The Philly Fed Index is expected at 3.0. Philly Fed index is the #1 indicator that's supposed to give timely clues on what the ISM Manufacturing will come out for the month of January, so any significant surprises in the Philly Fed reading can easily move the Euro by 30 pips or more. If the reading comes out at 14 or higher, it would be the highest reading since April of 2005, so it'll be good for the dollar. If the reading comes out at -5 or more negative, it would be the lowest reading in a while, so it'll be bad for the dollar and 30 pips would be my expected target if the trigger is hit.
Do not focus on making money; focus on protecting what you have.