After being pressured for most of the day, Yen is trying to make a come back as rally in US stocks lost steam. But for now, Sterling remains the strongest for today as lifted by stronger than expected wage data. Resilient Euro is following and then Dollar.
But for the greenback, tomorrow’s CPI will likely be the more important event. On the other hand, New Zealand dollar is the weakest one for now, followed by Swiss Franc and then Canadian.
DOW opened higher earlier today and hit as high as 26248.67. But just like yesterday, it’s failing to sustain momentum and turns red for now. Yesterday’s low was also breached. The strong rally from last week’s low of 24680.57 looks stretched and we’d expect a correction soon, possibly back to 55 day EMA (now at 25762).
