Dollar and Yen Soft as US CPI Awaited
| Action Insight Daily Report 9-13-22 |
Dollar and Yen Soft as US CPI Awaited |
Dollar and Yen are staying as the weakest ones for the week as focus turns to US inflation data. European majors are the strongest ones so far, even though Euro's rise is losing some momentum. Commodity currencies are mixed for now, despite improving risk sentiment. Technically, EUR/JPY's rally is slowing ahead of 61.8% projection of 124.37 to 144.26 from 133.38 at 145.67. For now, further rally is expected as long as 142.62 minor support holds. Firm break of 145.67 will pave the way to 149.76 long term resistance (2015 high). The next move could come as reaction to US CPI today. In Asia, at the time of writing, Nikkei is up 0.21%. Hong Kong HSI is up 0.48%. China Shanghai SSE is up 0.33%. Singapore Strait Times is up 0.45%. Japan 10-year JGB yield is down -0.0029 at 0.248. Overnight, DOW rose 0.71%. S&P 500 rose 1.06%. NASDAQ rose 1.27%. 10-year yield rose 0.041 to 3.362. |
GBP/USD Daily Outlook Daily Pivots: (S1) 1.1618; (P) 1.1665; (R1) 1.1728; More... GBP/USD's rebound from 1.1404 short term bottom is in progress. Intraday bias stays on the upside for 55 day EMA (now at 1.1924). On the downside, below 1.1550 minor support will turn bias back to the downside. Decisive break of 1.1409 will resume larger down trend. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
|---|
| 23:50 | JPY | PPI Y/Y Aug | 9.00% | 8.90% | 8.60% | 9.00% | | 23:50 | JPY | BSI Large Manufacturing Index Q3 | 1.7 | -8.1 | -9.9 | | 01:30 | AUD | NAB Business Confidence Aug | 10 | 7 | 8 | | 01:30 | AUD | NAB Business Conditions Aug | 20 | 20 | 19 | | 06:00 | GBP | Claimant Count Change Aug | -9.2K | -10.5K | | 06:00 | GBP | ILO Unemployment Rate (3M) Jul | 3.80% | 3.80% | | 06:00 | GBP | Average Earnings Including Bonus 3M/Y Jul | 5.20% | 5.10% | | 06:00 | GBP | Average Earnings Excluding Bonus 3M/Y Jul | 5.00% | 4.70% | | 06:00 | EUR | Germany CPI M/M Aug F | 0.30% | 0.30% | | 06:00 | EUR | Germany CPI Y/Y Aug F | 7.90% | 7.90% | | 06:30 | CHF | Producer and Import Prices M/M Aug | 0.10% | -0.10% | | 06:30 | CHF | Producer and Import Prices Y/Y Aug | 5.70% | 6.30% | | 09:00 | EUR | Germany ZEW Economic Sentiment Sep | -60 | -55.3 | | 09:00 | EUR | Germany ZEW Current Situation Sep | -50.5 | -47.6 | | 09:00 | EUR | Eurozone ZEW Economic Sentiment Sep | -58.3 | -54.9 | | 10:00 | USD | NFIB Business Optimism Index Aug | 90.6 | 89.9 | | 12:30 | USD | CPI M/M Aug | -0.10% | 0.00% | | 12:30 | USD | CPI Y/Y Aug | 8.10% | 8.50% | | 12:30 | USD | CPI Core M/M Aug | 0.30% | 0.30% | | 12:30 | USD | CPI Core Y/Y Aug | 6.00% | 5.90% |
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