Inflation in Japan’s capital Tokyo continued to climb, data showed last night, underpinning the Yen ahead of the release of the Federal Reserve’s preferred measure of US inflation, core PCE

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The Australian Dollar may rise if Asia-Pacific markets follow the rosy lead set on Wall Street as US GDP data sent the Dow Jones, S&P 500 and Nasdaq 100 higher.

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Was the better-than-expected US 4Q GDP reading this past session a further tipping point for the bulls? The S&P 500 and Nasdaq 100’s technical response this past session seems to insinuate a groundswell is forming. Yet, the Dollar’s extreme reticence may be a better picture of the financial system’s backdrop.

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After a significant level of intraday volatility, the major US indices managed to close firmly in the green Thursday. And yet, the backdrop of the market continues to undermine enthusiasm for developing technical moves into genuine momentum. For the Dow’s range, that seems fitting but the Nasdaq 100’s key break will rouse discord.

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The bullish trend in Gold continues to hold even as bulls have begun to face a bit of turbulence around the prior ATH of 1923.

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