Dollar Turning Softer in Mixed Markets, Gold Extends Rebound
Action Insight Daily Report 3-25-22

Dollar Turning Softer in Mixed Markets, Gold Extends Rebound

Overall markets are mixed in Asia today. While stocks in Hong Kong are suffering renewed selling, Japan and Singapore are steady. Gold is lifted by general weakness in Dollar. Yen's selling looks more and more exhausted even though it's still the worst performing one for the week, followed by Euro and the greenback. On the other hand, commodity currencies are staying firm as led by Aussie. Sterling is mixed and would look into retail sales data for some inspiration.

Technically, Gold's rebound form 1894.77 resumed by breaking though 1949.55 minor resistance. Further rise should be seen back to 61.8% retracement of 2070.06 to 1894.77 at 2003.09, which is close to 2000 handle. It's still early to conclude the pattern from 2070.06 has completed. Thus, price actions would remain choppy and directionless from a larger point of view. Nevertheless, the development could be an indication of some weakness in Dollar. Focus would turn to see if EUR/USD could break through 1.1120 with some conviction to confirm.

In Asia, Nikkei closed up 0.09%. Hong Kong HSI is down -2.32%. China Shanghai SSE is down -0.87%. Singapore Strait Times is up 0.43%. Japan 10-year JGB yield is up 0.0069 at 0.247, pressing 0.25 handle. Overnight, DOW rose 1.02%. S&P 500 rose 1.43%. NASDAQ rose 1.93%. 10-year yield rose 0.02 to 2.341.

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

AUD/USD Daily Report

Daily Pivots: (S1) 0.7477; (P) 0.7503; (R1) 0.7538; More...

AUD/USD's rally resumed after brief retreat and intraday bias is back on the upside for 0.7555 resistance. Decisive break there should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further raise should then be seen back to retest 0.8005. On the downside, below 0.7465 minor support will turn intraday bias neutral again.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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GMT Ccy Events Actual Forecast Previous Revised
23:30 JPY Tokyo CPI Core Y/Y Mar 0.80% 0.70% 0.50%
23:30 JPY Corporate Service Price Index Y/Y Feb 1.10% 1.20% 1.20%
00:01 GBP GfK Consumer Confidence Mar -31 -30 -26
07:00 GBP Retail Sales M/M Feb 1.00% 1.90%
05:30 GBP Retail Sales Y/Y Feb 3.90% 9.10%
07:00 GBP Retail Sales ex-Fuel M/M Feb 1.30% 1.70%
05:30 GBP Retail Sales ex-Fuel Y/Y Feb 5.00% 7.20%
09:00 EUR Germany IFO Business Climate Mar 94.5 98.9
09:00 EUR Germany IFO Expectations Mar 97.2 99.2
09:00 EUR Germany IFO Current Assessment Mar 97.4 98.6
09:00 EUR Eurozone M3 Money Supply Y/Y Feb 6.30% 6.40%
14:00 USD Pending Home Sales M/M Feb 1.40% -5.70%
14:00 USD Michigan Consumer Sentiment Index Mar F 59.7 59.7