Dollar Still in Driving Seat as Markets Await Next Moves
| Action Insight Daily Report 9-15-22 |
Dollar Still in Driving Seat as Markets Await Next Moves |
The markets are overall steady in Asia today. Yen attempted a rebound yesterday but there was no follow through buying so far. Dollar's rally also lacks sustained push. While commodity currencies are staying as the worst performer for the week, there is sign of some live against Euro. But that's probably more due to Swiss Franc's pressure on the common currency than other reason. Trades will look into reactions to US retail sales data as next guidance. Technically, near term outlook in Dollar is staying bullish in general, and upside break out is in favor. The levels to watch include 0.9863 support in EUR/USD, 1.1404 support in GBP/USD, 0.6698 support in AUD/USD, 144.98 resistance in USD/JPY, and 1.3207 resistance in USD/CAD. Judging from current sentiment, AUD/USD and USD/CAD has the potential to take the lead. In Asia, at the time of writing, Nikkei is up 0.18%. Hong Kong HSI is up 0.46%. China Shanghai SSE is down -1.01%. Singapore Strait Times is up 0.44%. Japan 10-year JGB yield is down -0.0014 at 0.256. Overnight DOW rose 30.12%. S&P 500 rose 0.34%. NASDAQ rose 0.74%. 10-year yield dropped -0.010 to 3.412. |
AUD/USD Daily Report Daily Pivots: (S1) 0.6715; (P) 0.6738; (R1) 0.6770; More... Intraday bias in AUD/USD stays neutral first. Prior rejection by 55 day EMA is a near term bearish sign. Decisive break of 0.6680 will resume larger down trend. Next target will be 0.6461 long term fibonacci level. On the upside, break of 0.6915 resistance will be a near term bullish signal, and bring stronger rally through 0.7008 towards 0.7135 resistance. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 22:45 | NZD | GDP Q/Q Q2 | 1.70% | 1.00% | -0.20% | | 23:50 | JPY | Trade Balance (JPY) Aug | -2.37T | -2.08T | -2.13T | -2.16T | | 01:00 | AUD | Consumer Inflation Expectations Sep | 5.40% | 5.90% | | 01:30 | AUD | Employment Change Aug | 33.5K | 35.5K | -40.9K | | 01:30 | AUD | Unemployment Rate Aug | 3.50% | 3.40% | 3.40% | | 04:30 | JPY | Tertiary Industry Index M/M Jul | -0.60% | -0.10% | -0.20% | | 09:00 | EUR | Eurozone Trade Balance (EUR) Jul | -32.5B | -30.8B | | 12:30 | USD | Initial Jobless Claims (Sep 9) | 227K | 222K | | 12:30 | USD | Retail Sales M/M Aug | 0.00% | 0.00% | | 12:30 | USD | Retail Sales ex Autos M/M Aug | 0.00% | 0.40% | | 12:30 | USD | Import Price Index M/M Aug | -1.20% | -1.40% | | 12:30 | USD | Empire State Manufacturing Index Sep | -15.25 | -31.3 | | 12:30 | USD | Philadelphia Fed Manufacturing Survey Sep | 2.5 | 6.2 | | 13:15 | USD | Industrial Production M/M Aug | 0.20% | 0.60% | | 14:00 | USD | Business Inventories Jul | 0.80% | 1.40% | | 14:30 | USD | Natural Gas Storage | 71B | 54B |
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