Action Insight Daily Report 10-18-22

Kiwi Rebounds On CPI, Dollar and Yen Weak on Risk Sentiment

Commodity currencies are generally stronger today following the rebound in risk markets. New Zealand Dollar is leading the way as additionally supported by stronger than expected consumer inflation reading. There are some talks that RBNZ would opt for a larger than before hike at the upcoming meeting. Dollar, Euro, and Yen are currently the worst performers, as followed by Swiss Franc, while Sterling is mixed.

Technically, while NZD/USD recovers notably, it's held well below 0.5812 resistance. Thus, near term outlook stays bearish for another fall through 0.5511 at a later stage. AUD/USD is also kept well below corresponding resistance at 0.6539 while USD/CAD is holding well above 1.3501 support. It's too soon to declare a turn around in these three.

In Asia, at the time of writing, Nikkei is up 1.47%. Hong Kong HSI is up 1.33%. China Shanghai SSE is up 0.34%. Singapore Strait Times is up 0.07%. Japan 10-year JGB yield is down -0.0015 at 0.251. Overnight, DOW rose 1.86%. S&P 500 rose 2.65%. NASDAQ rose 3.43%. 10-year yield rose 0.005 to 4.015.

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

EUR/JPY Daily Outlook

Daily Pivots: (S1) 145.14; (P) 145.93; (R1) 147.49; More....

EUR/JPY's break of 145.62 resistance confirms up trend resumption. Intraday bias stays on the upside for 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance. On the downside, below 144.58 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

NZ CPI Review: OCR Now Expected to Peak at 5%

New Zealand's Inflation Came in Much Hotter than Expected [Hoped]

GBP/USD Bulls Aim Upside Break Above 1.1500

Silver Wave Analysis

EURJPY Wave Analysis

UK CPI Preview: A Return to Double-Digit Inflation on Tap