The US January CPI report will be out later today at 1330 GMT
I shared my thoughts on the matter earlier here, and now I've stumbled into this gem which sums up exactly what the market sentiment is:
He's hit the nail right on the head in my view. The market is extremely muddy right now. The USD/JPY fall from yesterday is spooking some investors, but we're not exactly at a full fledged risk off environment just yet.
Everyone is looking towards the data for clues for the next move, and if it doesn't provide anything new, what happens next?
My take is that we'll see some wild gyrations thereafter but the market will settle back into the current "normal" by the end of trading. We're experiencing a shift in the trading paradigm, so nothing can really be ruled out at this point. What are your thoughts on the matter?
h/t: Mark Cudmore, Bloomberg
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