Swiss Franc and Dollar Gain as Putin Warns of Global War Escalation, Euro Awaits PMIs
| Action Insight Daily Report 11-22-24 |
Swiss Franc and Dollar Gain as Putin Warns of Global War Escalation, Euro Awaits PMIs |
Swiss Franc and US Dollar appreciated broadly today as investors sought safe-haven assets in response to escalating geopolitical risks. Gold extended its near-term rebound, while Bitcoin surged to a new record high, reflecting heightened demand for alternative stores of value. The catalyst for this shift was a warning from Russian President Vladimir Putin that the conflict in Ukraine is escalating toward a global scale. Putin stated that Russia responded to Ukraine's use of US and British-supplied missiles by launching a new hypersonic medium-range ballistic missile at a Ukrainian military facility. He indicated that additional actions could follow, intensifying concerns about a broader confrontation involving major powers. Despite these developments, the risk-off sentiment was not uniformly reflected across global markets. DOW closed significantly higher overnight, while NASDAQ edged lower. In Asia, market performance was mixed; Japan's Nikkei 225 advanced whereas Hong Kong's HSI and China's SSE trade in red.... |
EUR/USD Daily Outlook Daily Pivots: (S1) 1.0439; (P) 1.0497; (R1) 1.0532; More... EUR/USD's fall from 1.1213 resumed by breaking through 1.0495 temporary low. Intraday bias is back on the downside for 1.0447 support and then 1.0404 key fibonacci level next. Strong support could be seen from this zone to bring rebound. But risk will stay on the downside as long as 1.0609 resistance holds. Decisive break of 1.0404 will carry larger bearish implications | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 22:00 | AUD | Manufacturing PMI Nov P | 49.4 | 47.3 | | 22:00 | AUD | Services PMI Nov P | 49.6 | 51.0 | | 23:30 | JPY | National CPI Y/Y Oct | 2.30% | 2.50% | | 23:30 | JPY | National CPI Core Y/Y Oct | 2.30% | 2.20% | 2.40% | | 23:30 | JPY | National CPI Core-Core Y/Y Oct | 2.30% | 2.10% | | 00:30 | JPY | Manufacturing PMI Nov P | 49.0 | 49.5 | 49.2 | | 00:30 | JPY | Services PMI Nov P | 50.2 | 49.7 | | 07:00 | EUR | Germany GDP Q/Q Q3 F | 0.20% | 0.20% | | 07:00 | GBP | Retail Sales M/M Oct | -0.30% | 0.30% | | 08:15 | EUR | France Manufacturing PMI Nov P | 44.6 | 44.5 | | 08:15 | EUR | France Services PMI Nov P | 49 | 49.2 | | 08:30 | EUR | Germany Manufacturing PMI Nov P | 43.1 | 43 | | 08:30 | EUR | Germany Services PMI Nov P | 51.8 | 51.6 | | 09:00 | EUR | Eurozone Manufacturing PMI Nov P | 46 | 46 | | 09:00 | EUR | Eurozone Services PMI Nov P | 51.6 | 51.6 | | 09:30 | GBP | Manufacturing PMI Nov P | 50.1 | 49.9 | | 09:30 | GBP | Services PMI Nov P | 52.3 | 52 | | 13:30 | CAD | Retail Sales M/M Sep | 0.30% | 0.40% | | 13:30 | CAD | Retail Sales ex Autos M/M Sep | -0.50% | -0.70% | | 13:30 | CAD | New Housing Price Index M/M Oct | 0.10% | 0.00% | | 14:45 | USD | Manufacturing PMI Nov P | 48.5 | | 14:45 | USD | Services PMI Nov P | 55 | | 15:00 | USD | Michigan Consumer Sentiment Nov F | 73 | 73 |
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