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- Chinese CPI (inflation) data released earlier showed Chinese inflation has become deflation, with an annualized contraction of 0.3%, although a deeper contraction of 0.4% was expected. This may increase nerves about a souring of global risk appetite and demand, with markets already in a jittery mood.
- The US Dollar lacks a convincing long-term trend and currently seems stuck between support at 101.56, and resistance close by at 102.375. The resistance level held effectively a few hours ago, and the US Dollar is now gently falling.
- Global stock markets are generally lower over the past day. The HSI and the Nikkei 225 Index are both closing lower today.
- WTI Crude Oil is looking more bullish after the price made a strong rebound yesterday to close very near its recent 4-month high price. Trend traders might find it interesting to be involved here on the long side.
- In the Forex market, the US Dollar has been the weakest major currency since the Tokyo open, with the Australian Dollar the strongest, putting the AUD/USD currency pair into focus. However, the movements are quite small, and not very significant even on an intraday basis.
- New Zealand inflation expectations data came in at 2.83%..
- It may be a quiet day in the market today as there are no high-impact data releases scheduled today.