Markets Steady as Biden and Putin Agreed on a Ukraine Summit
Action Insight Daily Report 2-21-22

Markets Steady as Biden and Putin Agreed on a Ukraine Summit

The markets are steadily mixed in Asian session today. Sentiment is stabilized somewhat on news that US President Joe Biden and Russian President Vladimir Putin have agreed in principle to a summit over Ukraine, as brokered by French President Emmanuel Macron. Nevertheless, risks of imminent war remain. For now, Aussie and Kiwi are the slightly firmer ones while Dollar and Yen are soft. But the picture could easily change on geopolitical developments. PMI data from Eurozone and UK will likely take a back seat.

Technically, we'll keep an eye on GBP/CHF to gauge overall risk sentiment. It's so far resiliently hold above 1.2465 minor support, and further rise is still mildly in favor through 1.2598/2606 resistance. However, firm break of 1.2465 will indicate that rise from 1.2276 has completed, probably the pattern from 1.2134 too. Deeper decline would be seen back to 1.2276 support, and possibly further through 1.2134 if risk aversion intensifies.

In Asia, at the time of writing, Nikkei is down -0.86%. Hong Kong HSI is down -0.71%. China Shanghai SSE is down -0.36%. Singapore Strait Times is up 0.18%. Japan 10-year JGB yield is down -0.0061 at 0.214.

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

AUD/USD Daily Report

Daily Pivots: (S1) 0.7153; (P) 0.7190; (R1) 0.7216; More...

Intraday bias in AUD/USD remains neutral at this point. Further rise would remain in favor as long as 0.7050 support holds. Above 0.7247 will target 0.7313 resistance. Decisive break there argue that correction from 0.8006 has completed at 0.6966, after hitting 0.6991 key support. Outlook will be turned bullish for 0.7555 resistance next. On the downside, however, break of 0.7050 support will bring retest of 0.6966 low instead.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
22:00 AUD CBA Manufacturing PMI Feb P 57.6 55.1
22:00 AUD CBA Services PMI Feb P 56.4 46.6
00:30 JPY Manufacturing PMI Feb P 52.9 55 55.4
07:00 EUR Germany PPI M/M Jan 1.50% 5.00%
07:00 EUR Germany PPI Y/Y Jan 24.20%
08:15 EUR France Manufacturing PMI Feb P 55.5 55.5
08:15 EUR France Services PMI Feb P 53.5 53.1
08:30 EUR Germany Manufacturing PMI Feb P 59.4 59.8
08:30 EUR Germany Services PMI Feb P 53.2 52.2
09:00 EUR Eurozone Manufacturing PMI Feb P 58.7 58.7
09:00 EUR Eurozone Services PMI Feb P 51.7 51.1
09:30 GBP Manufacturing PMI Feb P 57.5 57.3
09:30 GBP Services PMI Feb P 55.2 54.1