Swiss Franc, Dollar and Yen on Risk Aversion as Ukraine Tensions Escalate
Action Insight Mid-Day Report 1-24-22

Swiss Franc, Dollar and Yen on Risk Aversion as Ukraine Tensions Escalate

Swiss Franc, Dollar and Yen rise strongly today on risk-off sentiment as geopolitical tensions around Ukraine escalate. Aussie is currently the worst performing one, followed by Sterling and then Kiwi. Euro and Canadian are mixed. In the back ground, markets are also preparing for some hawkish comments from Fed later in the week to set the stage for the start of rate hike cycle in March. In other markets, cryptocurrencies are extending recent free fall. Silver weakens notably but Gold is steady. Oil is extending range trading.

Technically, AUD/USD's break of 0.7128 support suggests that recent choppy rebound from 0.6992 has completed at 0.7313. USD/CAD 's break of 1.2619 also indicate that fall from 1.2963 has completed at 1.2588. Even worse, NZD/USD has already resumed the choppy fall from 0.7463. It looks like sentiment will only get worse before getting better.

In Europe, at the time of writing, FTSE is down -1.37%. DAX is down -2.16%. CAC is down -2.16%. Germany 10-year yield is down -0.025 at -0.089. Earlier in Asia, Nikkei rose 0.24%. Hong Kong HSI dropped -1.24%. China Shanghai SSE rose 0.04%. Singapore Strait Times dropped -0.35%. Japan 10-year JGB yield rose 0.0027 to 0.139.

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

AUD/USD Mid-Day Report

Daily Pivots: (S1) 0.7155; (P) 0.7193; (R1) 0.7213; More...

AUD/USD's break of 0.7128 support dampens our original bullish view and indicates that corrective rebound from 0.6992 has completed at 0.7313. Intraday bias is back on the downside for retesting 0.6991/2 support zone. Further break there will resume larger down trend from 0.8006, and carries larger bearish implication. Next target will be 100% projection of 0.7555 to 0.6992 from 0.7313 at 0.6750. For now, risk will stay on the downside as long as 0.7313 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
22:00 AUD Manufacturing PMI Jan P 55.3 57.7
22:00 AUD Services PMI Jan P 45 55.1
00:30 JPY Manufacturing PMI Jan P 54.6 55 54.3
08:15 EUR France Manufacturing PMI Jan P 55.5 55.5 55.6
08:15 EUR France Services PMI Jan P 53.1 55.3 57
08:30 EUR Germany Manufacturing PMI Jan P 60.5 57 57.4
08:30 EUR Germany Services PMI Jan P 52.2 48 48.7
09:00 EUR Eurozone Manufacturing PMI Jan P 59 57.5 58
09:00 EUR Eurozone Services PMI Jan P 51.2 52.2 53.1
09:30 GBP Manufacturing PMI Jan P 56.9 57.9 57.9
09:30 GBP Services PMI Jan P 53.3 55 53.6
14:45 USD Manufacturing PMI Jan P 56.8 57.7
14:45 USD Services PMI Jan P 55 57.6