Current PA is reminding me of around the 20th of June right before we broke out, pumped up on the Monday and then fully retraced but kept grinding back up, we'll wait and see if this play out in a similar fashion.
US CPI data comes out at 10:30PM AEST tonight, going to wait and see what kind of read comes out then.
Core Inflation is forecast to come in at 5% down from 5.3% last month.
The Inflation rate is forecast to hit 3.1% down from 4% last month, that is a pretty big drop so we'll see if it hits, if we see the inflation rate at 3.1% I think that is going to be very bullish for markets, even 3.2 - 3.3. Obviously if inflation goes up = bad but from most of what I've seen that sounds pretty unlikely.
Have a great day!