Dollar stays in control so far on the session

<p>The euro and pound are trading little changed against the dollar on the session now, while other major currencies are still looking fairly sluggish against the greenback. Cable rose to a high of 1.2675 earlier after the UK inflation data but has pared that advance to 1.2640 levels currently.</p><p>For now, the dollar remains in charge with USD/JPY especially keeping higher by 0.4% at 147.75 and still angling for a break above its 100-day moving average (red line):</p><p>USD/CAD is seen up 0.2% to 1.3523, still keeping a break above its own 200-day moving average of 1.3480. Meanwhile, the antipodean currencies are also struggling amid a more defensive risk mood and poor China data from earlier. AUD/USD is down 0.6% to 0.6545 while NZD/USD is down 0.4% to to 0.6113 and inching closer towards a test of its own 200-day moving average at 0.6092.</p><p>The bond market remains mostly steady so far today with 10-year Treasury yields flattish at 4.065%. Equities are still struggling hard with European indices holding well over 1% losses across the board while S&amp;P 500 futures are down 0.5% currently.</p><p>In other markets, gold is down 0.4% to $2,019 while Bitcoin is also marked down by 1.5% to $42,770 on the day.</p><p>It's all still to play for in trading today, with US retail sales data coming up later. That is set to be the next key hurdle for markets to work through. A stronger report there will solidify chances of a soft landing in the economy, while reaffirming added flexibility for the Fed to play around with the timing of a policy pivot.</p>

This article was written by Justin Low at www.forexlive.com.