US Inflation Slows, But Less than Anticipated

USD Gains, Stocks Slide, as US Inflation Slows by Less than Expected

The US dollar traded higher against most of the other major currencies yesterday and today in Asia. It gained notably against GBP, AUD, and NZD, while it eked out less gains versus EUR, CHF, and CAD. The only currency against which the greenback slid was JPY.

Nasdaq 100 — Technical Outlook

The Nasdaq 100 cash index traded lower yesterday, breaking below the 12175 zone and extending its prevailing downtrend marked by the downside line drawn from the high of April 5th. The fact that the index remains below that line, and also below all three of our moving averages on the 4-hour chart, keeps the short-term picture negative, in our view.

AUD/USD — Technical Outlook

AUD/USD edged south yesterday, breaking below the 0.6930 zone, which provided support on May 10th and 11th. This, combined with the fact that the pair is trading well below the downside resistance line drawn from the high of April 5th, paints a negative near-term picture.



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