Forex Markets Steady with Stabilized Sentiment, Aussie's Recovery Dampened by Job Data
Action Insight Daily Report 1-18-24 |
Forex Markets Steady with Stabilized Sentiment, Aussie's Recovery Dampened by Job Data |
The forex market displayed relative tranquility in Asian session, with major currencies confined to tight ranges. This subdued atmosphere reflects a degree of stabilization in investor sentiment, mirrored in the performance of major Asian stock indexes which are either experiencing mild recoveries or registering only slight losses. A notable exception to this picture is China's Shanghai SSE, which is extending its recent decline. This persistent downturn in the Chinese market is fueled by deep-rooted pessimism about the economy after this week's economic data, and subdued expectations for any significant stimulus measures from the government. In addition, broader investor sentiment is also showing signs of change, particularly in response to the evolving expectation of major central banks on interest rate cuts. There's a growing realization among investors that rate cuts might not occur as early or as rapidly as previously anticipated, dampening some of the earlier optimism in the markets... |
AUD/USD Daily Report Daily Pivots: (S1) 0.6520; (P) 0.6557; (R1) 0.6590; More... Intraday bias in AUD/USD remains on the downside at this point. Current fall from 0.6870 should target 61.8% retracement of 0.6269 to 0.6870 at 0.6497. Sustained break there will argue that whole rebound from 0.6269 has completed, and bring deeper fall to this support. On the upside, above 0.6594 minor resistance will turn intraday bias neutral first. | |
GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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23:50 | JPY | Machinery Orders M/M Nov | -4.90% | -0.80% | 0.70% | 00:00 | AUD | Consumer Inflation Expectations Jan | 4.50% | 4.50% | 00:01 | GBP | RICS Housing Price Balance Dec | -30% | -43% | -41% | 00:30 | AUD | Employment Change Dec | -65.1K | 15.4K | 61.5K | 72.6K | 00:30 | AUD | Unemployment Rate Dec | 3.90% | 3.90% | 3.90% | 04:30 | JPY | Industrial Production M/M Nov F | -0.90% | -0.90% | -0.90% | 09:00 | EUR | Eurozone Current Account (EUR) Nov | 30.9B | 33.8B | 12:30 | EUR | ECB Monetary Policy Meeting Accounts | 13:30 | USD | Initial Jobless Claims (Jan 12) | 207K | 202K | 13:30 | USD | Housing Starts Dec | 1.43M | 1.56M | 13:30 | USD | Building Permits Dec | 1.47M | 1.47M | 13:30 | USD | Philadelphia Fed Manufacturing Survey Jan | -6.9 | -10.5 | 15:30 | USD | Natural Gas Storage | -166B | -140B | 16:00 | USD | Crude Oil Inventories | -0.6M | 1.3M |
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