Swiss Franc Staying the Strongest, Dollar and Loonie Competing for Second
Action Insight Daily Report 6-30-22

Swiss Franc Staying the Strongest, Dollar and Loonie Competing for Second

Swiss Franc remains the runaway leader for the week so far. Dollar and Canadian are competing for the second place. On the other hand, New Zealand Dollar is the worst, followed by Sterling and then Euro. Yen is mixed for now. Overall market sentiment is indecisive with stocks lacking follow through buying to the near term rebound. Treasury yields are also extending sideway trading. Gold turns softer but stays bounded in familiar range.

Technically, EUR/CHF's breach of 0.9970 low suggests long term down trend resumption. GBP/CHF is in downside acceleration. The first question is, whether that would eventually translate into break of 1.0358 support in EUR/USD, or 1.1932 support in GBP/USD, or both. The second question is, whether EUR/GBP will stay range bound or find a way to breakout. The interplays are worth a watch.

In Asia, Nikkei dropped -1.67%. Hong Kong HSI is down -0.18%. China Shanghai SSE is up 1.35%. Singapore Strait Times is down -0.46%. Japan 10-year JGB yield is down -0.0046 at 0.228. Overnight, DOW rose 0.27%. S&P 500 dropped -0.07%. NASDAQ dropped -0.03%. 10-year yield dropped -0.113 to 3.093.

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

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2081; (P) 1.2147; (R1) 1.2188; More...

GBP/USD is still bounded in range above 1.1932 and intraday bias remains neutral. Further fall is in favor as long as 1.2331 minor resistance holds. Firm break of 1.1932 will resume larger down trend from 1.4248. On the upside, above 1.2331 will resume the rebound from 1.1932 to 1.2666 resistance. Firm break there will indicate medium term bottoming.

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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
23:50 JPY Industrial Production M/M May P -7.20% -0.30% -1.50%
01:00 NZD ANZ Business Confidence Jun -62.6 -55.6
01:30 AUD Private Sector Credit M/M May 0.80% 0.60% 0.80% 0.90%
01:30 CNY Manufacturing PMI Jun 50.2 49.6 49.6
01:30 CNY Non-Manufacturing PMI Jun 54.7 52.5 47.8
05:00 JPY Housing Starts Y/Y May -4.30% 3.00% 2.20%
06:00 EUR Germany Retail Sales M/M May 0.60% 0.80% -5.40%
06:00 EUR Germany Import Price Index M/M May 0.90% 1.60% 1.80%
06:00 GBP GDP Q/Q Q1 F 0 0.80% 0.80%
06:00 GBP Current Account (GBP) Q1 -51.7B -39.7B -7.3B
06:30 CHF Real Retail Sales Y/Y May 3.80% -6.00%
06:45 EUR France Consumer Spending M/M May 0.60% -0.40%
07:00 CHF KOF Leading Indicator Jun 96.8 96.8
07:55 EUR Germany Unemployment Change Jun -6K -4K
07:55 EUR Germany Unemployment Rate Jun 5% 5%
08:00 EUR Italy Unemployment Rate May 8.50% 8.40%
09:00 EUR Eurozone Unemployment Rate May 6.80% 6.80%
12:30 CAD GDP M/M Apr 0.20% 0.70%
12:30 USD Initial Jobless Claims (Jun 24) 229K 229K
12:30 USD Personal Income M/M May 0.50% 0.40%
12:30 USD Personal Spending May 0.50% 0.90%
12:30 USD PCE Price Index M/M May 0.20%
12:30 USD PCE Price Index Y/Y May 6.30%
12:30 USD Core PCE Price Index M/M May 0.40% 0.30%
12:30 USD Core PCE Price Index Y/Y May 4.70% 4.90%
13:45 USD Chicago PMI Jun 55 60.3