Dollar, Yen, and Swiss Franc emerge as the predominant winners as markets enter into US session, amidst a backdrop of mild risk-off sentiment. Nevertheless, momentum of these safe-haven currencies remains relatively tempered, holding off major range breakouts across the most traded currency pairs. Traders, particularly those focusing on Dollar, seem poised on the sidelines, awaiting tomorrow's PCE inflation data from US. This upcoming release is anticipated to shed light on whether the disinflationary trend has stalled, as indicated by the latest CPI data. Conversely, New Zealand Dollar languishes as the day's most significant underperformer, following RBNZ's decision to maintain interest rates unchanged. Australian Dollar trails closely, dampened by CPI reading that fell short of expectations, while Canadian Dollar also faces downward pressure. Euro and Sterling find themselves in mixed positions, though Euro slightly edges out with a modest advantage. Technically, Bitcoin entered a phase of full upside acceleration this week, and breaks above 60k psychological level. Next target is 100% projection of 24896 to 49020 from 38496 at 62620. Decisive break there will pave the way to 68986 record high, or even further to 161.8% projection at 77528 next. In any case, outlook will now stay bullish as long as 50610 support holds.... |
