- Australian CPI (inflation) data was released showing annualised inflation has fallen from 8.4% to 7.4%, a much stronger fall than the rate of 8.1% which had been widely expected. The news appeared to have boosted the Australian Dollar a little, which is counterintuitive.
- In the Forex market, the US Dollar is the weakest major currency today, while the New Zealand Dollar is currently the strongest. However, these represent short-term movements which are counter the dominant trend. Recent weeks have seen the US Dollar continue to strengthen.
- The Chinese stock market has rallied strongly on the best Chinese manufacturing data released in over 10 years, with the Hang Seng Index currently up by well over 3% on the day.
- Some commodities are performing quite well, with a few continuing to rise after having recently made significant bullish breakouts, notably Sugar and Cocoa.
- The US 2-Year Treasury Yield is continuing to advance steadily and firmly and is trading close to its long-term high at 4.857%.
- US Consumer Confidence data released yesterday came in lower than expected, adding to the case that the US economy is beginning to cool down.
- Canadian GDP data released yesterday showed a month-on-month decline of 0.1%, a very marginally worse result than the no change which had been expected.