 Dollar dips in early US session following lower than expected PCE and core inflation data. But loss is so far limited as traders are holding their bets ahead of Fed Chair Jerome Powell's speech. Euro, Aussie and Swiss Franc are so far the stronger ones for the day, while Yen and Kiwi are the weaker ones. Trading in the stock markets is subdued with major European indexes, and US futures flat. Technically, to confirm selloff in Dollar, some levels need to be violated decisively, at least. The levels include 1.0121 resistance in EUR/USD, 1.2002 resistance in GBP/USD, 0.9951 support in USD/CHF and 1.2826 support in USD/CAD. Otherwise, any dip in Dollar as reactions to Powell would be considered temporary first. In Europe, at the time of writing, FTSE is up 0.18%. DAX is down -0.04%. CAC is down -0.09%. Germany 10-year yield is up 0.0382 at 1.357. Earlier in Asia, Nikkei rose 0.57%. Hong Kong HSI rose 1.01%. China Shanghai SSE dropped -0.31% Singapore Strait Times rose 0.05%. Japan 10-year JGB yield dropped -0.0094 to 0.221. |
