Further expectations of a rate cut in September after outperforming economic data

$E-mini S&P 500 Futures(SEP4) (ESmain.US)$ (4 Hour Chart) -[BEARISH ↘ *]We turn bearish as price is near 5620 resistance level. We expect price to take a pause near 5620 resistance level before pushing down towards 5450 support level. Technical indicators have yet to advocate for a bearish momentum.

$USD (USDindex.FX)$ (4 Hour Chart) -[NEUTRAL]We stay neutral as price continues to hover between 102.160 support and 103.350 resistance level. Technical indicators are mixed, with MACD displaying a bearish momentum. A 4 hour candlestick opening above 103.350 resistance level could open a push towards 103.750 resistance level.

$Gold Futures(DEC4) (GCmain.US)$ (4 Hour Chart) -[BEARISH ↘ *]We maintain a bearish directional bias on Gold as long as price holds below 2500 resistance level. We expect price to pause at 2500 resistance level, before pushing down towards 2480 support level. Technical indicators are mixed, with price holding above 34-EMA period.

$Nikkei 225 (.N225.JP)$ (4 Hour Chart) -[BULLISH↗ **]As expected, price has pushed above 37700 resistance level. We maintain our bullish directional bias as we expect price to push towards 39600 resistance level. Technical indicators advocate for a bullish scenario as well.Alternatively: A 4 hour candlestick closing below 37700 resistance level would open a drop towards 35850 support level.

$HSI Futures(AUG4) (HSImain.HK)$ (4 Hour Chart) -[BULLISH↗ **]We turn bullish as long as price holds above 16900 support level. We expect price to push towards 18000 resistance level. Technical indicators are leaning towards a bullish scenario as well.

$FTSE Singapore Straits Time Index (.STI.SG)$ (4 Hour Chart) -[BULLISH↗ *]As expected, STI has pushed above 3350 resistance level. We maintain our bullish directional bias as we expect price to push towards 3450 resistance level. Technical indicators are mixed, with prices holding above 21-EMA period.

US markets rallied last night. $E-mini S&P 500 Futures(SEP4) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ climbed higher at 1.65% and 2.44% respectively. $Tesla (TSLA.US)$ and $Walmart (WMT.US)$ led the rally by +6.34% and +6.58% respectively. Concerns of a possible recession risk are reduced among traders after softer-than-expected inflation data and stronger-than-expected retail sales and initial jobless claims data.

Asian markets are up across the board, after strong performance in the US markets. $Nikkei 225 (.N225.JP)$ rallied by 3.03%, with producer manufacturing and tech sector leading the gains. This comes after weakening of the JPY. $HSI Futures(AUG4) (HSImain.HK)$ edged higher by 1.14%, with $JD-SW (09618.HK)$ climbing the highest by 8.00%. The weakening of CNY and pledge by China's central bank to implement policy to support the economy boosted risk-on sentiment among traders. $FTSE Singapore Straits Time Index (.STI.SG)$ moved up by 1.11%, with strength from the finance sector and weakness from communications sector.

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