Light Week Ahead with Dollar Rally Awaiting PCE Inflation Insights

Action Insight Daily Report 3-25-24

Light Week Ahead with Dollar Rally Awaiting PCE Inflation Insights

The forex markets display a calm demeanor in the Asian session, with most major pairs and crosses gyrating in very tight ranges. Australian Dollar finds modest support from the state orchestrated rebound in Chinese Yuan. However, this lift hasn't translated into clear momentum for an extended rally in Aussie.

Meanwhile, Yen continues to pare back its recent losses. The release of BoJ's minutes from its January meeting stirred little reaction among traders, as the market's focus is keenly set on the upcoming summary of opinions from last week's pivot meeting instead, expected to be released on Thursday.

Dollar's recent rally is on pause, awaiting US PCE inflation data as a potential volatility trigger. Surprises in this data could lead Fed policymakers to recalibrate their projections on the timing and number of rate cuts this year. Atlanta Fed President Raphael Bostic is an example of FOMC member that shifted stance. He revised his expectations to just one rate cut for the year, likely occurring later than initially anticipated.

Full Report Here

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

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.8953; (P) 0.8987; (R1) 0.9009; More....

Intraday bias in USD/CHF is turned neutral with 4H MACD crossed below signal line. Some consolidations would be seen below 0.9019 temporary top first. But downside of retreat should be contained above 0.8838 support to bring rebound. Break of 0.9019 will resume larger rally from 0.8332. Next target is 100% projection projection of 0.8550 to 0.8884 from 0.8728 at 0.9062.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

EUR/USD At Risk of Downside Break To 1.0650

Instrument of the Week (25-29 March): GBPCAD Spotlight

Forex and Cryptocurrencies Forecast

The Weekly Bottom Line: Counting Cuts

Weekly Economic & Financial Commentary: Sitting, Waiting, Wishing

Canada's January GDP to Edge Higher on Recovery from Quebec Strike

Will PCE Data Revive Concerns About Sticky US Inflation?

Week Ahead – Markets Quiet Down After Central Bank Frenzy

Weekly Focus – Historical Central Bank Week: A Hike and A Cut in G10

Cliff Notes: Four Sets of Circumstances, One Intent

Fundamental Analysis | Technical Analysis
In-depth Reports
alt
Bank of England Review - Gearing Up for a June Cut
alt
March FOMC Meeting: Still Building Confidence
alt
Fed Review: Not as High, But for Even Longer?
alt
A New World Imagined by BoJ, But Not Yet Realised
alt
RBA on Hold, Ruling Nothing In or Out
 
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:50 JPY BoJ Minutes
14:00 USD New Home Sales Feb 675K 661K