 Today's markets are characterized by a sense of caution, with most major pairs and crosses gyrating inside Friday's range. Japanese Yen is an exception as a stronger performer, although it has not yet seen significant follow-through buying. Dollar and the Euro are currently in a consolidation phase, with traders adopting a 'wait and see' approach. Australian Dollar, alongside other commodity-linked currencies, exhibits a softer tone. Swiss Franc is also trending on the softer side, while Sterling is mixed. The upcoming Asian session is set to feature several key economic indicators that are likely to influence market movements. Japan's Tokyo CPI, China's Caixin PMI Services, and RBA rate decision are among the key events. RBA is expected to maintain the interest rate at 4.35%. It is anticipated that RBA will refrain from making any significant policy announcements or giving clear forward guidance until Q4 inflation data is thoroughly analyzed. This approach suggests that the upcoming meeting will likely be procedural... |
