 Canadian Dollar surges broadly in early US session after stronger than expected consumer inflation reading, which solidifies the case for more tightening from BoC. Though, as for today, Aussie is still the strongest, as helped by the massive rebound in China stocks earlier. Yen is turning soft again but following global risk rebound, and more importantly, rally in US and European benchmark yields. European majors are mixed. Dollar is also soft in consolidation, awaiting FOMC's 25bps rate hike, There are three questions to answer. Firstly, where would interest be by the end of the year? Secondly, is FOMC going to "front-load" some of the rate hikes? And thirdly, will the estimated longer run federal funds rate be lifted from the current 2.50%? The new economic projections would hopefully provide something concrete. Technically, CAD/JPY rises through 93.00 high to resume the medium term up trend from 73.80. Next target is 100% projection of 87.42 to 92.16 from 89.21 at 93.95. Attention is now on when AUD/JPY would follow and break through 86.24 resistance to resume the up trend from 59.85. In Europe, at the time of writing, FTSE is up 1.39%. DAX is up 2.82%. CAC is up 3.26%. Germany 10-year yield is up 0.0544 at 0.390. Earlier in Asia, Nikkei rose 1.64%. Hong Kong HSI rose 9.08%. China Shanghai SSE rose 3.48%. Singapore Strait Times rose 1.70%. Japan 10-year JGB yield dropped -0.0068 to 0.204. | 
