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USD, AUD ANALYSIS AND NEWS Fragile Sentiment To Keep USD Firm AUD Plunges Below Key Support USD ForecastUSD Forecast The bounce back in equity markets, doesn’t appear to be anything more than a short term reprieve. We highlighted yesterday there was a potential for a Turnaround Tuesday, where a fall in the S&P 500 from Thursday-Monday is typically followed by a bounce back on Tuesday. However, this does not mean the overall direction will change meaningfully. A reminder that uncertainties pertaining to the Russian-Ukraine war, growth slowing in China and US tightening of financial conditions continue to plague market sentiment. With that said, tomorrow’s CPI will be key for market participants, which may well be the catalyst of a more meaningful bounce in equities, should the report print below expectations. Although, this will not shake the markets bias that equities will be faded on rallies.