Dollar Declines Further, Oil Up on Production Cuts
Action Insight Daily Report 1-6-21

Dollar Declines Further, Oil Up on Production Cuts

Dollar's decline resumed overnight and stays soft in Asian session today. Though, intensity of the selloff remains relatively weak. FOMC minutes is a feature today but that's unlikely to provide any inspiration for the greenback. Sterling is indeed still the worst performing one for the week for now, as weighed down by fresh lockdowns. As for today, New Zealand and Australian Dollars are the strongest, followed by Swiss Franc.

Technically, Gold is losing momentum ahead of 1965.50 resistance, but there is no confirmed sign of topping yet. Any intensifying sell-off in Dollar could prompt upside acceleration in Gold through the resistance. Though, a break of 1934.12 support will sign a pull back, and be a pre-sign of Dollar's rebound against other major currencies.

In Asia, Nikkei closed down -0.38%. Hong Kong HSI is down -0.09%. China Shanghai SSE is up 0.18%. Singapore Strait Times is down -0.09%. Japan 10-year JGB yield is up 0.0051 at 0.020. Overnight, DOW rose 0.55$%. S&P 500 rose 0.71%. NASDAQ rose 0.95%. 10-year yield rose 0.038 to 0.955.

Full Report Here

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

JPY to Continue Grind against USD on Policy Convergence, Reduced Capital Outflow and Current Account Surplus
Euro to Stay Positive against USD in 2021, though with Upside Limited
US Dollar to Weaken Further Gradually in 2021
Central Bank Views | China Watch | Oil N' Gold | Special Topics

AUD/USD Daily Report

Daily Pivots: (S1) 0.7626; (P) 0.7683; (R1) 0.7724; More...

AUD/USD's rally resumed after brief consolidation and intraday bias is back on the upside. Current up trend from 0.5506 should target 61.8% projection of 0.5506 to 0.7413 from 0.6991 at 0.8170 next. On the downside, break of 0.7641 support is needed to be the first sign of short term topping. Otherwise, outlook will remain bullish in case of retreat.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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Fundamental Analysis | Technical Analysis
In-depth Reports
JPY to Continue Grind against USD on Policy Convergence, Reduced Capital Outflow and Current Account Surplus
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US Dollar to Weaken Further Gradually in 2021
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Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
0:01 GBP BRC Shop Price Index Y/Y Nov -1.80% -1.80%
1:45 CNY Caixin Services PMI Dec 56.3 58.1 57.8
5:00 JPY Consumer Confidence Index Dec 31.8 32.6 33.7
8:45 EUR Italy Services PMI Dec 45 39.4
8:50 EUR France Services PMI Dec F 49.2 49.2
8:55 EUR Germany Services PMI Dec F 47.7 47.7
9:00 EUR Eurozone Services PMI Dec F 47.3 47.3
9:30 GBP Services PMI Dec 49.9 49.9
10:00 EUR PPI M/M Nov 0.10% 0.40%
10:00 EUR PPI Y/Y Nov -2.20% -2.00%
13:00 EUR Germany CPI M/M Dec P 0.60% -0.80%
13:00 EUR Germany CPI Y/Y Dec P -0.20% -0.30%
13:15 USD ADP Employment Change Dec 75K 307K
14:45 USD Services PMI Dec F 55.3 55.3
15:00 USD Factory Orders M/M Nov 0.70% 1.00%
15:30 USD Crude Oil Inventories -2.8M -6.1M
19:00 USD FOMC Minutes