Lackluster Trading in Forex as Economic Data Fails to Stir Major Movements

Action Insight Mid-Day Report 1-9-24

Lackluster Trading in Forex as Economic Data Fails to Stir Major Movements

Currency trading today remained lackluster, characterized by limited movements across major pairs and crosses. Key economic data releases, ranging from Japan's Tokyo CPI, and retail sales figures from Australia and the Eurozone, to trade balance data from Canada and US, failed to significantly influence the markets.

Japanese Yen is currently a marginally stronger currency, continuing its near-term recovery. Dollar follows closely, ranking as the second strongest . Conversely, Australian Dollar remains at the lower end of the performance chart, facing additional downward pressure due to selling against Canadian Dollar and New Zealand Dollar. Meanwhile, Euro experienced a mild uplift, primarily driven by its recovery against British Pound and Swiss Franc...

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

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2692; (P) 1.2729; (R1) 1.2786; More...

GBP/USD is extending sideway trading below 1.2826 and intraday bias remains neutral. On the upside, decisive break of 1.2826 high will resume whole rally from 1.2036. Nevertheless, another fall and break of 1.2611 will bring deeper correction to 1.2499 support instead.

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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
23:30 JPY Tokyo CPI Y/Y Dec 2.40% 2.60%
23:30 JPY Tokyo CPI ex Fresh Food Y/Y Dec 2.10% 2.10% 2.30%
23:30 JPY Tokyo CPI Core Y/Y Dec 3.50% 3.60%
00:30 AUD Retail Sales M/M Nov 2.00% 1.20% -0.20% -0.40%
00:30 AUD Building Permits M/M Nov 1.60% -2.00% 7.50% 7.20%
06:45 CHF Unemployment Rate M/M Dec 2.20% 2.20% 2.10%
07:00 EUR Germany Industrial Production M/M Nov -0.70% 0.40% -0.40% -0.30%
07:45 EUR France Trade Balance (EUR) Nov -5.9B -7.9B -8.6B
10:00 EUR Eurozone Unemployment Rate Nov 6.40% 6.50% 6.50%
11:00 USD NFIB Business Optimism Index Dec 91.9 90.9 90.6
13:30 USD Trade Balance (USD) Nov -63.2B -64.8B -64.3B -64.5B
13:30 CAD Trade Balance (CAD) Nov 1.6B 2.5B 3.0B 3.2B
13:30 CAD Building Permits M/M Nov -3.90% 2.00% 2.30%