Dollar Upside Breakout after Hawkish Fed, SNB and BoE Next

Action Insight Daily Report 9-22-22

Dollar Upside Breakout after Hawkish Fed, SNB and BoE Next

Dollar broke out to the upside overnight following hawkish Fed hike. At the same time, it's closely trailed by Swiss Franc for now, on geopolitical risks. Risk aversion is also keeping Yen afloat in crosses, despite strong rally in treasury yields. For now, Kiwi is the worst performer for the performer among the weak commodity currencies. But Euro is not too far behind as Ukraine war could drag on further with Russian's military mobilization.

Technically, USD/JPY is resuming recent up trend with a break of 144.98 resistance today, follow BoJ rate decision. Near term outlook will stays bullish as long as 142.63 support holds. Next target is 1998 high at 147.68. Momentum towards the level, and reactions from there are worth a watch, on hint on whether Japan is ready for taking actual actions on intervention.

In Asia, Nikkei closed down -0.53%. Hong Kong HSI is down -1.93%. China Shanghai SSE is down -0.34%. Singapore Strait Times is down -0.25%. Japan 10-year JGB yield is down notably by -0.0256 at 0.236. Overnight, DOW dropped -1.70%. S&P 500 dropped -1.71%. NASDAQ dropped -1.79%. 10-year yield rose dropped -0.061 to 3.510.

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

EUR/USD Daily Outlook

Daily Pivots: (S1) 0.9774; (P) 0.9876; (R1) 0.9940; More...

EUR/USD's break of 0.9863 support confirms down trend resumption. Intraday bias is back on the downside for 100% projection of 1.0368 to 0.9863 from 1.0197 at 0.9692. Firm break there could prompt downside acceleration and target 161.8% projection at 0.9380. On the upside, above 0.9943 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 1.0197 resistance holds, in case of recovery.

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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
22:45 NZD Trade Balance (NZD) Aug -2447M -500M -1092M
03:00 JPY BoJ Interest Rate Decision -0.10% -0.10% -0.10%
07:30 CHF SNB Interest Rate Decision 0.50% -0.25%
08:00 ECB Eurozone Economic Bulletin
11:00 GBP BoE Interest Rate Decision 2.25% 1.75%
11:00 GBP MPC Official Bank Rate Votes 9--0--0 9--0--0
12:30 USD Initial Jobless Claims (Sep 16) 220K 213K
12:30 USD Current Account (USD) Q2 -258B -291B
12:30 CAD New Housing Price Index M/M Aug 0.10% 0.10%
14:00 EUR Eurozone Consumer Confidence Sep P -26 -24.9
14:30 USD Natural Gas Storage 97B 77B