Yen and Dollar Slightly Firmer, Markets Shrug Poor China Data
Action Insight Daily Report 5-16-22

Yen and Dollar Slightly Firmer, Markets Shrug Poor China Data

Yen and Dollar rise slightly in quiet Asia session today while Aussie and Kiwi weaken. It's typical risk-off setting with weakness seen in oil price and gold too, but movements are limited. Major pairs and crosses are staying inside Friday's range for now. Asia stock markets are also mixed with mild weakness seen in China and Hong Kong. There is little reaction to the much poorer than expected economic data from China.

Technically, main focus remains on whether EUR/USD would power through 2017 low at 1.0339. An interest point to note is that USD/CHF has already broke through parity already. A break of 1.0339 in EUR/USD could also quickly push it through parity too. Both Fed and ECB had already provided clear forward guidance on rates. The trigger for EUR/USD's next move is more likely from intermarket reactions.

In Asia, at the time of writing, Nikkei is up 0.62%. Hong Kong HSI is down -0.37%. China Shanghai SSE is down -0.51%. Singapore Strait Times is up 0.82%. Japan 10-year JGB yield is up 0.0023 at 0.247.

Full Report Here

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

AUD/USD Daily Report

Daily Pivots: (S1) 0.6881; (P) 0.6911; (R1) 0.6968; More...

AUD/USD is staying in consolidation above 0.6828 temporary low and intraday bias remains neutral. Outlook will remain bearish as long as 0.7265 resistance holds. Break of 0.6828 will resume larger fall from 0.8006, and target 0.6756/60 medium term fibonacci level next.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

Weekly COT Report: Metals Continue to Get Hammered

A Traders' Week Ahead playbook

Forex and Cryptocurrencies Forecast

Weekly Economic & Financial Commentary: Will Tighter Financial Conditions Lead to a More Dovish Fed?

The Weekly Bottom Line: Slight Pullback in Inflation Won't Change Fed's Mind

Week Ahead: Focus Shifts to the Consumer as Volatility Continues

Markets Pricing in Central Bank Rate Increases Over the Next Year

Fundamental Analysis | Technical Analysis
In-depth Reports
Bank of England Review: Another Rate Hike But Mixed Signals
FOMC Steps Up the Pace of Monetary Tightening
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
22:30 NZD Business NZ PSI Apr 51.4 51.6 51.5
23:50 JPY PPI Y/Y Apr 10.00% 9.40% 9.50% 9.70%
02:00 CNY Retail Sales Y/Y Apr -11.10% -6.00% -3.50%
02:00 CNY Industrial Production Y/Y Apr -2.90% 0.70% 5.00%
02:00 CNY Fixed Asset Investment YTD Y/Y Apr 6.80% 7.00% 9.30%
06:00 JPY Machine Tool Orders Y/Y Apr P 30.20%
09:00 EUR Eurozone Trade Balance (EUR) Mar 2.3B -9.4B
12:15 CAD Housing Starts Y/Y Apr 250K 246K
12:30 CAD Manufacturing Sales M/M Mar 2.10% 4.20%
12:30 CAD Wholesale Sales M/M Mar 0.00% -0.40%
12:30 USD Empire State Manufacturing Index May 15.5 24.6