NDXUSD

The NASDAQ, which is sensitive to interest rates, will experience its day of destiny today; because the CPI data coming from the US will directly impact the future of the Fed's monetary policy. A sticky and high inflation figure could lead to a sharp wave of selling in technology stocks by bringing the "higher for longer" interest rate scenario to the table. Data that falls below expectations has the potential to trigger a strong relief rally in the index, as it would be interpreted as the end of interest rate hikes.