Dollar Mixed Awaiting Fed Guidance, Markets Steady in Asia
Action Insight Daily Report 1-24-22

Dollar Mixed Awaiting Fed Guidance, Markets Steady in Asia

The forex markets are pretty steady in Asian session even though others trade with a slight risk-off tone. Major pairs and crosses are stuck inside Friday's range for now. But volatility is guaranteed ahead, with Fed and BoC featured, as well as a large batch of important economic data. As for today, main focuses will be on PMIs from Eurozone and UK, indicating the states activities and inflation.

Technically, Dollar is rather mixed for now. EUR/USD didn't break through 1.1284 support to indicate completion of rebound from 1.1185. USD/JPY is holding above 113.47 temporary low, without resuming the fall from 116.34. USD/CHF is also holding above 0.9090 support, without resuming the fall from 0.9372. These pairs could probably need more guidance from Fed.

In Asia, at the time of writing, Nikkei is down -0.55%. Hong Kong HSI is down -1.07%. China Shanghai SSE is up 0.07%. Singapore Strait Times is down -0.16%. Japan 10-year JGB yield is up 0.0002 at 0.137.

Full Report Here

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

USD/JPY Daily Outlook

Daily Pivots: (S1) 113.49; (P) 113.82; (R1) 114.04; More...

Intraday bias in USD/JPY remains mildly on the downside at this point. Considering bearish divergence condition in in daily MACD, it's probably already in correction to whole up trend from 102.58. Break of 113.47 will target 112.52 support first, and then 38.2% retracement of 102.58 to 116.34 at 111.08. For now, risk will stay on the downside as long as 115.05 resistance holds, in case of recovery.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

EUR/USD Starts Fresh Decline, Can Bulls Protect 1.1300?

Asian Open: Flash PMI's in Focus, AUD Probes Trend Support

Weekly COT Report: GBP Futures on the Cusp of Net-Long Exposure

Bitcoin Weekend Plunge: 50% off Record Highs

Forex and Cryptocurrency Forecast

Weekly Economic & Financial Commentary: No Rate Hikes Yet, but Next Week's FOMC Meeting Should Set the Table

The Weekly Bottom Line: To Hike or Not to Hike (in January)

Bank of Canada to Make Highly-Anticipated Rate Decision

Week Ahead:  FOMC and BOC in Focus; Politics and Earnings Continue

Week Ahead – Fed and Earnings in Focus

Eurozone PMIs: Another Dose of Bad News?

Week Ahead – Fed, BoC to Sing from Same Hawkish Hymn Sheet; Data Flurry on the Way

Weekly Focus – All Eyes on Fed

 

Fundamental Analysis | Technical Analysis
In-depth Reports
Canada: Rate Hikes Close, But Not Quite Yet
RBA to Begin Tightening in August Despite Omicron Shaving Growth in 2022 from 6.4% to 5.5%
January Flashlight for the FOMC Blackout Period
The Fed's Balance Sheet: When Will It Shrink, and by How Much?
Digital Revolution: Will Cryptocurrencies Take Over the World? Part II
Digital Revolution: Will Cryptocurrencies Take Over the World? Part I
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
22:00 AUD Manufacturing PMI Jan P 55.3 57.7
22:00 AUD Services PMI Jan P 45.0 55.1
00:30 JPY Manufacturing PMI Jan P 54.6 55 54.3
08:15 EUR France Manufacturing PMI Jan P 55.5 55.6
08:15 EUR France Services PMI Jan P 55.3 57
08:30 EUR Germany Manufacturing PMI Jan P 57 57.4
08:30 EUR Germany Services PMI Jan P 48 48.7
09:00 EUR Eurozone Manufacturing PMI Jan P 57.5 58
09:00 EUR Eurozone Services PMI Jan P 52.2 53.1
09:30 GBP Manufacturing PMI Jan P 57.9 57.9
09:30 GBP Services PMI Jan P 55 53.6
14:45 USD Manufacturing PMI Jan P 56.8 57.7
14:45 USD Services PMI Jan P 55 57.6