 Australian Dollar regains some ground in Asian session today, following stronger than expected monthly CPI data. In the background, market sentiment also stabilizes after Fed Chair Jerome Powell refrained from commenting on monetary policy or inflation. New Zealand Dollar is currently the second strongest, followed by Swiss Franc. Yen is the worse performer, followed by Canadian and then Dollar and Euro. Sterling is mixed for now. Technically, Dollar's selloff has clearly lost momentum this week so far, but there is no sign of a sustainable rebound yet. Traders are probably just holding their bets ahead of tomorrow's US CPI release. Gold's rally is still on track to 100% projection of 1616.51 to 1786.63 from 1728.48 at 1898.80. Considering weak upside momentum in 4 hour MACD, 1900 handle could cap upside in first attempt, and bring pull back. That might give Dollar a chance to rebound elsewhere. In Asia, at the time of writing, Nikkei is up 0.98%. Hong Kong HSI is up 1.02%. China Shanghai SSE is up 0.20%. Singapore Strait Times is up 0.29%. Japan 10-year JGB yield is down -0.0074 at 0.504. Overnight, DOW rose 0.56%. S&P 500 rose 0.70%. NASDAQ rose 1.01%. 10-year yield rose 0.104 to 3.621. |
