Traders look towards CPI data tonight for more clues on rate cuts

$E-mini S&P 500 Futures(DEC4) (ESmain.US)$ (4 Hour Chart) -[BULLISH↗ *]We turn bullish as price pushed above 5810 resistance level. As long as price holds above its resistance-turned-support level at 5810, we expect price to continue pushing towards 5860 resistance level. Technical indicators are leaning towards a bullish scenario.

$USD (USDindex.FX)$ (4 Hour Chart) -[BEARISH ↘ *]We turn bearish with low conviction as long as price holds above 103.040 resistance level. We expect price to drift towards 103.040 resistance level before drifting down to 102.565 support level. Technical indicators have yet to display a bearish momentum.

$Gold Futures(DEC4) (GCmain.US)$ (4 Hour Chart) -[BULLISH↗ *]We turn bullish as price is nearing 2616.50 support level. We expect price to push towards 2645.30 resistance levels. Technical indicators are mixed, with MACD advocating for a bullish scenario.

$Nikkei 225 (.N225.JP)$ (4 Hour Chart) -[BULLISH↗ **]We turn bullish as price is nearing ascending channel support. As long as price holds above 39430 support level, we expect price to drift towards 40530 resistance level. Technical indicators advocate for a bullish scenario as well.

$HSI Futures(NOV4) (HSImain.HK)$ (4 Hour Chart) -[NEUTRAL]We turn neutral as price is hovering between 20400 support and 21550 resistance level. A 4 hour candlestick closing below 20400 support level would open next drop towards 19700 support level. Technical indicators are leaning towards a bearish momentum.

$FTSE Singapore Straits Time Index (.STI.SG)$ (4 Hour Chart) -[BULLISH↗ **]As price continues to hold above 3570 support level, we turn bullish as we expect price to drift towards 3620 resistance level. Technical indicators are mixed for now, with MACD displaying a bullish momentum.

US markets closed higher last night. $E-mini S&P 500 Futures(DEC4) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ edged higher by 0.70% and 0.81% respectively. This comes after FOMC meeting minutes, with "substantial majority" of the officials supporting the September half-point rate cut. Traders should keep a look out for initial jobless claims and CPI data out tonight for more clues on possible rate cuts.

Asian markets opened higher today, mirroring the US indices. $HSI Futures(NOV4) (HSImain.HK)$ climbed the most by 2.61%, after PBoC made a surprise move to begin swap programme to boost the markets. $TRIP.COM-S (09961.HK)$ , $MEITUAN-W (03690.HK)$ and $GEELY AUTO (00175.HK)$ pushed the most by 6.52%, 5.59% and 6.62% respectively. $Nikkei 225 (.N225.JP)$ edged higher by 0.38%. This is due to the weakening of JPY and release of PPI data which came above analyst's expectations. $SoftBank Group (9984.JP)$ climbed the most by 3.12%. $FTSE Singapore Straits Time Index (.STI.SG)$ drifted higher by 0.43%, after news of Singapore's agreement to cooperate with Thailand. There is risk-on sentiment among traders with Singapore's recent collaboration with other countries.

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