Gold Slips Below $4050 as Bond Yields Surge to 4.7% on Fed Inflation Concerns – Sell Rallies at $4060 Targeting $3940 
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RBA Signals More Rate Hikes Possible as Australia Battles Stubborn Inflation 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
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BOJ Rate Decision in Focus as Sticky Inflation, Weak Yen Shape USD/JPY and Nikkei Outlook 
Gold Shines on Oil Relief: Buy Dips at $4160, Targeting $4305 as Bullish EMAs Dominate 
Further easing from European Central Bank (ECB) is posing new bigger threat to Japanese economy as it would push the competitiveness of European products ahead of Japan.
European Central Bank (ECB) is taking a more aggressive stance while Bank of Japan (BOJ) is shying away from further policy easing. That puts Euro in clearly weaker spot against Yen.
Further erosion of Yen's competitive advantage is likely to put Nikkei in tough spot, which is down close to 1% today and more than 6.5% in last three months. Nikkei CFD is currently trading at 18800.
Euro today has fallen to seven week low against Yen.
Technically speaking, Euro is in a downward channel against yen since June and price is now drifting lower from range high. Euro is currently trading at 133.1 against Yen, further drift down of about 200-250 pips in the very near term very much likely.
Focus is on monetary policies from FED on 28th and Bank of Japan on 30th.
