Dollar and Euro Mixed, Yen and Swiss Franc Staying Pressured
Action Insight Daily Report 6-8-22

Dollar and Euro Mixed, Yen and Swiss Franc Staying Pressured

Weakness in Yen and Swiss Franc are both staying under selling pressure today, and there is not clear sign of bottoming yet. Sterling is currently the stronger one for the week but there is no clear breakthrough. Aussie and Loonie are digesting some gains but remain firm. Meanwhile, Dollar is mixed for now, together with Euro. Both Dollar and Euro might need to wait until ECB rate decision and US CPI to find a clear direction.

Technically, some attention will be paid to EUR/CAD for the rest of the week. It's fall close to 1.3383 support as fall from 1.3806 extends. Firm break there will resume medium term down trend to 1.3019 support (2015 low), which is close to 1.3 handle. However, break of 1.3538 minor resistance will ease immediate selling pressing and extend the sideway pattern from 1.3383 with another rising leg. The next move in EUR/CAD could provide a hint on that of EUR/USD.

In Asia, at the time of writing, Nikkei is up 0.91%. Hong Kong HSI is up 1.70%. China Shanghai SSE is down -0.70%. Singapore Strait Times is down -0.18%. Japan 10-year JGB yield is down -0.0041 at 0.246. Overnight, DOW rose 0.80%. S&P 500 rose 0.95%. NASDAQ rose 0.94%. 10-year yield dropped -0.066 to 2.972, back below 3%.

Full Report Here

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

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0665; (P) 1.0689 (R1) 1.0727; More...

Range trading continues in EUR/USD and intraday bias remains neutral. On the downside, break of 1.0626 minor support will indicate rejection by 55 day EMA, and turn bias back to the downside for retesting 1.0348. On the upside, break of 1.0786, and sustained trading above 55 day EMA (now at 1.0757) will target 1.0935 resistance next.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

Technical Outlook and Review

Get Ready for ECB to Hikes Rates (Just Not Tomorrow)

Gold Outlook: Traders Await US Inflation Data

Elliott Wave View: EURJPY Should Continue to Find Support

GBPJPY Wave Analysis

US CPI Awaited for Final Clues on Inflation Peak before Next Fed Meeting

Loonie Needs Some Boost from Employment Report for a Rise

Fundamental Analysis | Technical Analysis
In-depth Reports
June Flashlight for the FOMC Blackout Period
Big Picture: A (mild) Recession in Western Economies Seems Unavoidable
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:50 JPY Bank Lending Y/Y May 0.70% 0.80% 0.90%
23:50 JPY GDP Q/Q Q1 F -0.10% -0.30% -0.20%
23:50 JPY GDP Deflator Y/Y Q1 F -0.50% -0.40% -0.40%
05:45 CHF Unemployment Rate May 2.20% 2.20%
06:00 EUR Germany Industrial Production M/M Apr 1.00% -3.90%
06:45 EUR France Trade Balance (EUR) Apr -11.1B -12.4B
08:00 EUR Italy Retail Sales M/M Apr 0.30% -0.50%
08:30 GBP Construction PMI May 56.9 58.2
09:00 EUR Eurozone GDP Q/Q Q1 0.30% 0.30%
09:00 EUR Eurozone Employment Change Q/Q Q1 F 0.50% 0.50%
14:00 USD Wholesale Inventories Apr F 2.10% 2.10%
14:30 USD Crude Oil Inventories -2.6M -5.1M