 Australian Dollar is overwhelmingly the worst performing one today. It suffers heavy selling after much weaker than expected CPI raises the chance of RBA rate cut later this year. New Zealand Dollar follows as second as RBNZ is also expected to cut, just probably earlier in May. Canadian Dollar is the third weakest on anticipation that BoC would drop tightening bias with today's rate decision statement. On the other hand, Yen is the strongest one for today. Despite yesterday's strong rally in US stocks, Asian markets are generally weaker. Dollar follows as the second strongest one. Solid corporate earnings are reducing the chance of a Fed cut, at least. Sterling is the third weakest strongest for today. While GBP/USD breaks 1.2960 key support, the Pound is still range bound against Euro and Yen. Technically, with today's steep decline, AUD/USD is now likely resuming the decline from 0.7295. 0.7003 support will be an immediate focus and we'd expect a decisive break there to confirm near term bearishness. Similarly, AUD/JPY is heading towards 77.44 equivalent support while EUR/AUD is heading to 1.6122 equivalent resistance. EUR/USD recovers well ahead of 1.1176 low but this level will remain the focus in near term. USD/CAD breaches 1.3451 resistance and focus is immediately on 1.3467. Firm break will resume rebound from 1.3068 towards 1.3664 high. Elsewhere, at the time of writing, Nikkei is down -0.56%. Hong Kong HSI is down -0.85%. China Shanghai SSE is down -0.92%. Singapore Strait Times is up 0.21%. Japan 10-year JGB yield is down -0.0096 at -0.04. Overnight, DOW closed up 0.55%. S&P 500 rose 0.88%. NASDAQ rose 1.32%. 10-year yield dropped -0.002 to 2.57, rejected by 2.6 handle again. | 
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