Themes

• General mood is “risk off”
• RBA hiked cash rate by 50 bps, later, AUDUSD went up during the NY session
• Sentiment from Euro zone, U.K. PMI and Canadian PMIs all printed higher than expected

What’s Moving

U.S. three major stock indices went up at NY session along with oil price bounce from a major resistance at 117.80. Oil failed to break 121.00 region and closed around 120.30.

Fiber, Cable, and Aussie went up during the NY session with good print on Sentiment data and PMIs.

Loonie failed to gain strength since oil bounce up lately, while Gopher broke the resistance level to close at a yearly high around 132.56.

Thoughts

With little incentives from calendar during the Asian session. Keep an eye on the crude price, since we have news released early that agrees to ramp up oil production but fails to exclude Russia. Bulls may attack a higher resistance aiming somewhere around 125.00.

The data and event calendar are light today, with little more than:

• German Industrial Production
• Crude Oil Inventories

Pivot Points