 Dollar is rather indecisive in early US session. US consumer inflation slowed less than expected in January, support Fed to continue tightening, probably for longer. However, positive risk sentiment is offsetting the boost to the greenback. Sterling, on the hand, was lifted by solid job data while FTSE hitting new record high. Elsewhere, Euro Swiss Franc and Aussie are on the firmer side. Yen, Canadian and Kiwi are on the weaker side. Technically, GBP/CAD's break of 4 hour 55 EMA is a positive sign. Immediate focus is now on 1.6338 resistance. Decisive break there will argue that whole corrective pattern from 1.6846 has completed with three waves to 1.6075. Stronger rally would then be seen back to 1.6690/6846 resistance. Tomorrow's UK CPI data could be the trigger. In Europe, at the time of writing, FTSE is up 0.24%. DAX is up 0.26%. CAC is up 0.36%. Germany 10-year yield is up 0.017 at 2.388. Earlier in Asia, Nikkei rose 0.64%. Hong Kong HSI dropped -0.24%. China Shanghai SSE rose 0.28%. Singapore Strait Times dropped -0.20%. Japan 10-year JGB yield closed flat at 0.504. |
