Asian Open

The US 2-year bond yield remains support, which is capping the yield at 5% and weighed on the US dollar. And that helped AUD/USD rise for a second day ahead of a key AU CPI report.

There has been a shakeup at the top for gold, which opened the week at the high and closed the day at the low during its worst day in two years. We also look at a potential swing trade long on WTI crude oil.

The US dollar index recouped some of Wednesday's losses and is now tapping 106, whilst the US 2-year yields considers a break above 5%.

The US dollar snapped a 6-day winning streak to allow AUD/USD to rebound from 64c in line with yesterday’s bias. And if AU employment figures perform today, it could extend its gains for a second day.

A risk-off tone ensued across global markets to send the US dollar higher, to the detriment of AUD/USD and the ASX 200.

USD/JPY is less than a day's trade from 155, a level an ex-FX diplomat warned could trigger an intervention if breached. WTI crude oil seems to have solid support above $84, to hint at a swing low.

Another day, another milestone for USD/JPY which closed above 152 for the first time in nearly 34 years on Thursday.

Bond yields and the US dollar surged after the latest US inflation report bought serious doubt over a June Fed cut, dragging global indices lower which sets the stage for the ASX 200 cash market to suffer today.

With geopolitical tensions on the rise and Russia announcing production cuts as infrastructure continues to face attacks, the path of least resistance for WTI crude oil appears to be higher.

The market appears to be doing the BOJ's work by refusing to test 152, which paints a bearish bias over the near term for USD/JPY.

An SNB cut and dovish comments bolstered the US dollar to bring USD/JPY less then 30-pips from 152. WTI crude oil is also showing signs of stability above $80.

US yields dragged the US dollar lower as the Fed continued to favour three cuts this year, helping AUD/USD break back above its 200-day MA ahead of today's employment figures.

The fact that the yen was broadly weaker following the BOJ's historic hike shows that it was not only priced in, but traders wanted more. Yet the rapid weakness of the yen brings back a familiar question; will the BOJ begin verbal intervention?

1-day implied volatility for USD/JPY has risen to 320% of its 20-day average ahead of today's BOJ meeting, to show volatility is expected. And the best chance of AUD/USD enjoying its own volatility is if the RBA finally ditch their hawkish bias.

US dollar bears scrambled for cover following hot US economic data ahead of next week’s Fed meeting, helping USD/JPY rise to a 5-day high and eye a potential breakout today.

After several weeks of choppy trading conditions, momentum has turned higher on WTI crude oil and a breakout above $80 is on the radar.

AUD/USD held above its 200-day EMA and shows the potential to bounce today, alongside gold - despite the fact it snapped its 9-day winning streak.