| Action Insight Daily Report 12-12-23 |
Dollar Softens Mildly ahead of US CPI, Aussie Gains as China Relaxes Some Trade Sanctions |
 Dollar softens slightly in today's Asian session, as the global markets await forthcoming US consumer inflation data. Headline CPI is anticipated to show a modest deceleration to 3.2% in November, while core CPI is expected to remain stubbornly high at 4%. Fed's mandate to bringing inflation down to its 2% target necessitates a persistent slowdown in core inflation through the tough "last mile". Absent this, interest rates will either be maintained at their current elevated levels "for longer" or potentially be increased further. This context amplifies the importance of today's data as well as tomorrow's FOMC rate decision and the accompanying economic projections, which are poised to be major catalysts in the financial markets.... |
AUD/USD Daily Report Daily Pivots: (S1) 0.6551; (P) 0.6567; (R1) 0.6584; More... AUD/USD recovers today but stays inside range below 0.6689. Intraday bias remains neutral for the moment, and risk stays mildly on the downside. Break of 0.6524 will affirm the case of rejection by channel resistance, and resume the fall from 0.6689 short term top to 55 D EMA (now at 0.6500) and below. Nevertheless, firm break of 0.6689 will resume the rise from 0.6269 instead. |  |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
|---|
| 23:30 | AUD | Westpac Consumer Confidence Dec | 2.70% | -2.60% | | 23:50 | JPY | PPI Y/Y Nov | 0.30% | 0.10% | 0.80% | 0.90% | | 00:30 | AUD | NAB Business Confidence Nov | -9 | -2 | -3 | | 00:30 | AUD | NAB Business Conditions Nov | 9 | 13 | | 07:00 | GBP | Claimant Count Change Nov | 20.3K | 17.8K | | 07:00 | GBP | ILO Unemployment Rate (3M) Oct | 4.20% | 4.20% | | 07:00 | GBP | Average Earnings Including Bonus 3M/Y Oct | 7.70% | 7.90% | | 07:00 | GBP | Average Earnings Excluding Bonus 3M/Y Oct | 7.40% | 7.70% | | 10:00 | EUR | Germany ZEW Economic Sentiment Dec | 8.8 | 9.8 | | 10:00 | EUR | Germany ZEW Current Situation Dec | -75.5 | -79.8 | | 10:00 | EUR | Eurozone ZEW Economic Sentiment Dec | 11.2 | 13.8 | | 11:00 | USD | NFIB Business Optimism Index Nov | 90.7 | 90.7 | | 13:30 | USD | CPI M/M Nov | 0.10% | 0.00% | | 13:30 | USD | CPI Y/Y Nov | 3.10% | 3.20% | | 13:30 | USD | CPI Core M/M Nov | 0.30% | 0.20% | | 13:30 | USD | CPI Core Y/Y Nov | 4.00% | 4.00% |
|
|
|
