Daily Report: Markets Sentiments Hit Mildly by Strong China CPI
Markets sentiments is hit mildly earlier today after strong Chinese inflation data triggered concern of further tightening from China. Asian equities are generally lower but losses are limited so far. Yen strengthens mildly together with falling stocks and recent decline in yen crosses might continue as the day goes. Dollar also recovers mildly but strength is muted. The greenback would continue to face pressure from surging commodity prices with gold making another record high at 1480 and silver extends up trend through 42 level. Euro and swissy are both resilient and would likely remain strong against the greenback even though Moody's just downgraded Ireland's rating by two notches to Baa3 from Baa1 and issued a negative outlook.
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