Action Insight Mid-Day Report 1-28-22

Dollar Digests Gains after PCE Inflation Data, Aussie Broadly Lower

Dollar retreats mildly today after PCE inflation data posted no surprises. While there is some profit taking, the greenback remains the strongest one for the week by some distance. Selling focus has turned from Euro to commodity currencies today, as lead by Aussie. The overall close would still depend on development in risk sentiment, which has been very volatile recently.

In Europe, at the time of writing, FTSE is down -1.42%. DAX is down -1.97%. CAC is down -1.79%. Germany 10-year yield is up 0.0395, still negative at -0.016. Earlier in Asia, Nikkei rose 2.09%. Hong Kong HSI dropped -1.08%. China Shanghai SSE dropped -0.97%. Singapore Strait Times dropped -0.42%. Japan 10-year JGB yield rose 0.0094 to 0.169.

Full Report Here

AUD/USD Mid-Day Report

Daily Pivots: (S1) 0.6998; (P) 0.7060; (R1) 0.7095; More...

AUD/USD drops further to as low as 0.6966 so far today and intraday bias remains on the downside. Sustained break of 0.6991/2 support will confirm resumption of 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. On the upside, break of 0.7089 minor resistance will mix up the near term outlook and turn intraday bias neutral first.

Full Report Here

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

Market in a Volatile Day; Dollar Surges to More than 1 ½ -Year High

NZ Dollar Extends Slide – How Low Will it Go?

USDCAD Rockets Off 200-MA, Fuelling Upward Trajectory

US Dollar Pummelling Swissie

EUR/USD and NZD/USD Elliott Wave Analysis: Be Aware of More Weakness

GBPJPY Chases Soft Gains; Short-Term Outlook Somewhat Gloomy

US 30 Index Remains Negative in Short-Term; SMAs Post Bearish Cross

Today's Stock Market Session Could be Important to Guide Short Term Risk Sentiment

EURJPY Consolidates as Bearish Tone Softens

ECB Preview – Inflation Uncertainty and Data Dependency

Fundamental Analysis | Technical Analysis

In-depth Reports

New Zealand CPI: To Infinity and Beyond

Fed Review: Every Meeting is "Live" – We Now Expect Five Hikes This Year

BoC Holds Policy Rate at 0.25%, Removes Exceptional Forward Guidance

U.K.: Slower Growth, Faster Inflation, Gradual Tightening

Inflation Driving Up Rate Hike Bets Globally, So Why Does Dollar Remain King?

RBA to Begin Tightening in August Despite Omicron Shaving Growth in 2022 from 6.4% to 5.5%

Economic Calendar

GMT	Ccy	Events	Actual	Forecast	Previous	Revised
23:30	JPY	Tokyo CPI Core Y/Y Jan	0.20%	0.30%	0.50%
00:30	AUD	PPI Q/Q Q4	1.30%	0.90%	1.10%
00:30	AUD	PPI Y/Y Q4	3.70%	2.70%	2.90%
06:30	EUR	France Consumer Spending M/M Dec	0.20%	0.20%	0.80%	0.90%
06:30	EUR	France GDP Q/Q Q4 P	0.70%	0.50%	3.00%
07:00	EUR	Germany Import Price Index M/M Dec	0.10%	1.80%	3.00%
08:00	CHF	KOF Economic Barometer Jan	107.8	106	107	107.2
09:00	EUR	Germany GDP Q/Q Q4 P	-0.70%	-0.20%	1.70%
09:00	EUR	Eurozone M3 Money Supply Y/Y Dec	6.90%	6.90%	7.30%
10:00	EUR	Eurozone Economic Sentiment Indicator Jan	112.7	114.5	115.3	113.8
10:00	EUR	Eurozone Services Sentiment Jan	9.1	14.9	11.2	10.9
10:00	EUR	Eurozone Industrial Confidence Jan	13.9	15	14.9	14.6
10:00	EUR	Eurozone Consumer Confidence Jan F	-8.5	-8.5	-8.4
13:30	USD	Personal Income M/M Dec	0.30%	0.50%	0.40%	0.50%
13:30	USD	Personal Spending Dec	-0.60%	-0.60%	0.60%	0.40%
13:30	USD	PCE Price Index M/M Dec	0.40%	0.50%	0.60%
13:30	USD	PCE Price Index Y/Y Dec	5.80%	6.10%	5.70%
13:30	USD	Core PCE Price Index M/M Dec	0.50%	0.50%	0.50%
13:30	USD	Core PCE Price Index Y/Y Dec	4.90%	4.80%	4.70%
13:30	USD	Employment Cost Index Q4	1.00%	1.20%	1.30%
15:00	USD	Michigan Consumer Sentiment Index Jan F	68.6	68.8