Morning market update:
A pull back in the US dollar and also equities last night with a shift to a risk off mood which has kept the AUDUSD bulls subdued. This morning at 09:30 GMT+8 we have CPI data out of China and PPI this could see some volatility in the AUDUSD and I will leave the initial stop loss in place at 0.7460 in place. UK GDP is out today at 14:00 with the GBPUSD holding above support this could be a catalyst to see a move higher. There was a miss on the initial jobless claims at 373k with 350k forecast and the next news for the US is the Fed Monetary report coming out at 23:00. Given the significant run higher in equities risk off sentiment is on which will be a point to watch today as the Australian market opens shortly.
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