Risk-on sentiment among traders as more economic data released tonight

$E-mini S&P 500 Futures(SEP4) (ESmain.US)$ (4 Hour Chart) -[BULLISH↗ *]We turn bullish as price has pushed above 5435 support level. We expect price to push higher towards 5600 resistance level. Technical indicators are advocating for a bullish scenario as well.

$USD (USDindex.FX)$ (4 Hour Chart) -[NEUTRAL]As expected, DXY pushed lower and touched 102.160 support. We turn neutral as price are between 102.160 support and 103.350 resistance level. Technical indicators are leaning towards a bearish scenario for now.

$Gold Futures(DEC4) (GCmain.US)$ (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, Nikkei has helpd above 35850 support level. We maintain our bullish directional bias as we expect price to push towards 37700 resistance level. Technical indicators are advocating for a bullish scenario.

$HSI Futures(SEP4) (HSImain.HK)$ (4 Hour Chart) -[NEUTRAL]We turn neutral for now as price is moving between 17500 resistance level and 16900 key support level. A 4 hour candlestick pushing below 16900 support level could open a drop towards 16500 support level. Technical indicators are leaning towards a bearish scenario.

$FTSE Singapore Straits Time Index (.STI.SG)$ (4 Hour Chart) -[BULLISH↗ **]STI has puhed above 3300 resistance level. We turn bullish as we expect prices to push towards 3350 resistance level. Technical indicators are advocating for a bullish scenario as well.

US markets moved up marginally last night, with $E-mini S&P 500 Futures(SEP4) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$ closing at +0.33% and +0.06% respectively. This comes after underperforming CPI data, which boosted traders' confidence of a rate cut by the Fed as soon as September. Financials led the gain, while communication services faced weakness. Traders should take note of retail sales, initial jobless claims and the Philadelphia Fed Manufacturing Index that will be released tonight, for further guidance on market direction.

Asian markets continued their move up across the board. $Nikkei 225 (.N225.JP)$ edged higher by 0.96%, with $Sumitomo Mitsui Financial Group (8316.JP)$ , $Mitsubishi Electric (6503.JP)$ and $Mitsubishi Heavy Industries (7011.JP)$ pushing higher by 5.31%, 5.52% and 5.76% respectively. This is due to weakening JPY and outperforming GDP data released yesterday. $HSI Futures(SEP4) (HSImain.HK)$ traded higher by 0.57%, with strength from the finance and energy minerals sector. This is due to risk-on sentiment among traders after increased expectations of a rate cut by the Fed. $FTSE Singapore Straits Time Index (.STI.SG)$ closed up by 0.79%, moving in line with major markets. $ST Engineering (S63.SG)$ led the climb by 3.89%.

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