 As the market transitions into early US session, Yen remains the best performer of the day, riding on Japan's stronger-than-anticipated CPI data. Despite the positive undercurrent, Yen has yet to find decisive buying momentum, suggesting that most traders are still on the sideline. Meanwhile, Australian Dollar trails as the second strongest for now, followed by Swiss Franc and Canadian Dollar. Conversely, New Zealand Dollar finds itself at the bottom, with market participants on edge as they anticipate the upcoming RBNZ rate decision. While most economists lean towards a rate hold as the likely outcome, the potential for a surprise hike keeps traders on their toes. Kiwi's response could be notably volatile in either case. Sterling and Euro are also underperforming. Dollar is also soft, despite showing minimal reaction to disappointing durable goods orders data. |
