 Dollar rises sharply in early US session after much stronger than expected consumer inflation data, which hit multi-decade high. For now, New Zealand Dollar is the worst performer today, followed by Sterling and then Euro. Yen is retreating against the greenback but stays steady against others. Technically, despite notable rally, Dollar is generally still stuck in range at the time of writing. To confirm underlying momentum in the greenback, we'll need to see break of 1.1512 support in EUR/USD, 1.3423 support in GBP/USD, 0.9174 resistance in USD/CHF, and 113.65 minor resistance in USD/JPY. In Europe, at the time of writing, FTSE is up 0.56%. DAX is down -0.10%. CAC is down -0.25%. Germany 10-year yield is up 0.0232 at -0.273. Earlier in Asia, Nikkei dropped -0.61%. Hong Kong HSI rose 0.74%. China Shanghai SSE dropped -0.41%. Singapore Strait Times dropped -0.37%. Japan 10-year JGB yield dropped -0.0061 to 0.060. |
