Dollar Starts the Week Strong; Fed, SNB, BoE and BoJ to meet
Action Insight Daily Report 6-13-22

Dollar Starts the Week Strong; Fed, SNB, BoE and BoJ to meet

Dollar rises broadly as the week starts as risk aversion extended into Asia session. But Yen is not benefiting much this time, as recovery lost momentum. Commodity currencies are also weak together with Euro. Swiss Franc and Sterling are just slightly better the others, but still weak against the greenback. The meetings of four major central banks ahead would shape the next moves, at least until the end of H1.

Technically, AUD/USD's break of 0.7034 support should confirm that rebound from 0.6828 has completed at 0.7282. Larger down trend from 0.8006 might be ready to resume through 0.6828 low. Similarly, NZD/USD's rebound from 0.6215 should also be finished at 0.6575, after rejection by 55 day EMA. Focus will be on any downside acceleration towards 0.6215, and through, together with AUD/USD.

In Asia, at the time of writing, Nikkei is down -3.13%. Hong Kong HSI is down -2.81%. China Shanghai SSE is down -1.11%. Singapore Strait Times is down -0.62%. Japan 10-year JGB yield is up 0.0066 at 0.261.

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

USD/JPY Daily Outlook

Daily Pivots: (S1) 133.71; (P) 134.09; (R1) 134.82; More...

USD/JPY's rally resumed after brief consolidations and intraday bias is back on the upside. Current up trend should target 61.8% projection of 114.40 to 131.34 from 126.35 at 136.81. Firm break there will target 100% projection at 143.29. On the downside, below 133.17 minor support will turn intraday bias neutral first and bring consolidations, before staging another rise.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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23:50 JPY BSI Large Manufacturing Index Q/Q Q2 -9.9 -4.2 -7.6
06:00 GBP GDP M/M Apr 0.20% -0.10%
06:00 GBP Index of Services 3M/3M Apr 0.40% 0.40%
06:00 GBP Manufacturing Production M/M Apr 0.20% -0.20%
06:00 GBP Manufacturing Production Y/Y Apr 1.80% 1.90%
06:00 GBP Industrial Production M/M Apr 0.20% -0.20%
06:00 GBP Industrial Production Y/Y Apr 0.50% 0.70%
06:00 GBP Goods Trade Balance (GBP) Apr -20.3B -23.9B
13:00 GBP NIESR GDP Estimate (3M) May 0.60% 0.30%