The higher than anticipated US PPI release at 0.52 led to Dollar Index slipping below 105 and can now further test 104.5 as well.
Good Morning! While Euro has risen above 1.08 but a decisive break past 1.085 will be needed to make the outlook bullish further.
and EURJPY are rising towards 157/158 and 170 respectively as expected. tested 7.2379 before coming down and further if the fall continues, can test 7.22 on the downside. Aussie and Pound are trading near the upper end of their respective range of 0.6550-0.6650 and 1.2450-1.26. has sustained well above 90 and now it can rise further towards 90.50-91 in the coming sessions.
is likely to trade within 83.40-83.55 range in the near term, before eventually rising higher towards 83.60. US CPI and EU Flash GDP data release are important to watch today. The US Treasury yields are coming down. There is room to fall more from here to test their supports. But thereafter we can expect the yields to rise back again. The US inflation data release today is important to watch. The German yields continue to move up. The bullish view is intact, and the yields can rise further.
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