Dollar Rises Again on Risk Aversion, Aussie Weak after Job Report
Action Insight Daily Report 8-19-21

Dollar Rises Again on Risk Aversion, Aussie Weak after Job Report

Dollar rises broadly again risk sentiment turned sour again. While Yen and Swiss Franc are still firm elsewhere, the greenback has overtaken their top position for the week. Meanwhile, commodity currencies remain the worst performing ones, as led by New Zealand Dollar, closely followed by Australian Dollar. Euro and Sterling are mixed for the moment.

Technically, EUR/USD is finally moving away from 1.1705 support as selling accelerates. Focus is turned to 1.1602 support next and bring there will carry larger bearish implications. We'd also pay attention to the development in Gold. Break of 1770.68 support will suggest rejection by 1800 handle, and bring deeper fall. That would be another signal of Dollar's strength if happens.

In Asia, at the time of writing, Nikkei is down -0.73%. Hong Kong HSI is down -1.80%. China Shanghai SSE is down -0.71%. Singapore Strait Times is down -1.00%. Japan 10-year JGB yield is up 0.0023 at 0.019. Overnight, DOW dropped -1.08%. S&P 500 dropped -1.07%. NASDAQ dropped -0.89%. 10-year yield rose 0.015 to 1.273.

Full Report Here

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EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1689; (P) 1.1716; (R1) 1.1737; More...

AUD/USD drops to as low as 1.1665 so today and intraday bias remains on the downside. We'd continue to look for strong support from 1.1602/1703 support zone to bring rebound. On the upside, above 1.1804 resistance will turn bias back to the upside for 1.1907 resistance first. however, sustained break of 1.1602/1703 will carry larger bearish implication and pave the way to 1.1289 fibonacci support.

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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
01:30 AUD Employment Change Jul 2.2K -45.0K 29.1K
01:30 AUD Unemployment Rate Jul 4.60% 5.00% 4.90%
06:00 CHF Trade Balance (CHF) Jul 4.78B 5.53B
08:00 EUR Eurozone Current Account (EUR) Jun 12.3B 11.7B
12:30 CAD ADP Employment Change Jul -294.2K
12:30 USD Initial Jobless Claims (Aug 13) 362K 375K
12:30 USD Philadelphia Fed Manufacturing Aug 24.3 21.9
14:30 USD Natural Gas Storage 28B 49B