 In a twist of events today, Euro takes a considerable hit following ECB's dovish rate hike which communicated a possibly peak in the tightening cycle. The downgrading of core CPI and GDP growth forecasts for the coming years - 2024 and 2025 - further aggravates the descent. This bearish sentiment spills over to Sterling and Swiss Franc, painting a subdued picture for European majors across the board. In a contrasting scenario, Dollar exhibits a spirited performance, leveraging off the back of a stream of encouraging economic data releases. US retail sales and PPI figures emerged strong, coupled with data pointing to a hearty employment market echoed by jobless claims report. Despite this upbeat tide, Dollar finds itself outshone slightly by Australian and Canadian dollars in the financial market space. Aussie Dollar is seen deriving some backing from China's decision to cut RRR, a move aiming to inject liquidity and stimulate economic activity. On another front, Canadian dollar rise on the rally observed in WTI oil, which notably surges past 90 handle. Technically, as the greenback is rallying against European majors, the focus is on whether buying momentum could continue. In particular, EUR/USD and GBP/USD will have to sustain below 1.0685 and 1.2432 temporary lows. USD/CHF will also have to sustain above 0.8951 temporary high. Otherwise, the greenback will be back to square one. In Europe, at the time of writing, FTSE is up 1.04%. DAX is up 0.34%. CAC is up 0.49%. Germany 10-year yield is down -0.070 at 2.584. Earlier in Asia, Nikkei rose 1.41%. Hong Kong HSI rose 0.21%. China Shanghai SSE rose 0.11%. Singapore Strait Times rose 0.95%. Japan 10-year JGB yield dropped -0.0013 to 0.709. | 
