FxWirePro: NZD/USD edges higher as focus shifts to U.S.-China trade talks and US CPI data

• NZD/USD edged higher on Thursday  as investor attention turned  to U.S.  inflation report and  upcoming US-China trade talks.

•Investors will closely follow the US-China trade discussions, as President Donald Trump indicated on Wednesday that he expects to secure agreements with Chinese President Xi Jinping in next week’s South Korea summit.

• The Consumer Price Index (CPI) for September, scheduled for release on Friday, is the week’s key market event, carrying potential implications for the Federal Reserve.

• Fed funds futures imply a 96.7% probability of a 25-basis points cut to interest rates at the U.S. central bank's meeting on October 29, compared with a 98.3% chance on Wednesday.

•  Immediate resistance is located at 0.5748(38.2%fib), any close above will push the pair towards 0.5766(SMA 20).

•  Support is seen at 0.5685(23.6%fib) and break below could take the pair towards 0.5664(Lower BB).

 Recommendation: Good to sell around 0.5750 with stop loss of 0.5850 and target price of 0.5670