Themes

• General mood is “risk off”
• Fed may raise fund rate up for about 75 bps, the market is extremely fear, and US dollars Index surge and closed above 105.00.
• With mostly less than expected prints from UK, cable touched as low as 1.2100 during the last trading day.
• German Final CPI printed 0.9% as the expectation, Euro bounced up around 50 pips.

What’s Moving

Market was not that volatile during Asian session, but with most non-USD currencies bounced up from the low.

Crude oil went up earlier heading north to test the resistance around 122.00.

Gold remains low and below the resistance at 1830.0. With coming sentiment data and US PPI later, bulls may attack the resistance and break this level.

Data tonight includes:

• ZEW Economic Sentiment
• US PPI