Greetings Everyone and Happy Wednesday!

The Equities and Indices had a basically Neutral Day on the back of early-morning Corrections that saw the Dow/S&P/Yen Units Correlations largely Intact.

The “underlying” Sentiment…while not readily apparent with Price Action Tuesday… still looks to Bullish Momentum in the Near-Term as we see the “Waning” of the Dollar and Yen as the “Low-Yielding Safe-Haven” Friends that they have been in the last 13-14 Months.

The Culprits of their Demise may just be Gold and Crude Oil if we consider recent Price Behavior, as these two Commodities are under fine Bullish Movement… which is providing a slight “Leading Indication” of Dollar Weakness moving forward.

Are you becoming Nostalgic for the Days of Fiber and Cable Highs?… and poor Dollar and Yen always hiding in the Closet or Under the Bed?   

Those Days may be upon us soon as we appear to be seeing some “Glimmers” of overall Paradigm Shifts in many Markets, and not just Foreign Exchange.

Commodities are the ones to Watch in my personal View….

Crude Oil stays solidly above the coveted $50 Figure on the back of China and Asian-Pacific Demand, as well as all that Infrastructure that needs to be built using the Metals and additional Resources in the Energy Sector.

Like my Analogy we talk of all the time… just because the Beijing Olympics are over… does not mean China rolls up the Streets for the Millennium and stops building!

Let’s get to the Immediate-Term here and have a look at Pound Yen and Euro Yen… since we have seen The Dollar “indirectly” with Gold and Crude Oil.

Here is the Daily Views with both Units, so give the Captures a Click for some “General” Commentary, as we will drill down during our 8:00 GMT Update.

Post-Time is 1:50 GMT.

We will stay with these Two and move to the Hourly Views at the Asian/London “Overlap” during the Blog Update, which will follow the “Currency Majors Technical Perspective” Report at 7:00 GMT.

Please join me then!