Yen Recovering, Swiss Franc Rises in Consolidative Markets
Action Insight Mid-Day Report 10-21-21

Yen Recovering, Swiss Franc Rises in Consolidative Markets

Markets are generally in consolidative mode today. Dollar turns weaker against Swiss Franc and Yen despite better than expected jobless claims data. But the greenback is just range bound against other major currencies. Commodity currencies are digesting near term gains but losses are so far very limited. Euro is trading sideway against Sterling but weakens notably against Swiss Franc.

Technically, firstly, we'd continue to monitor if USD/JPY would break through 113.87 minor support firmly to start a near term pull back. That could be followed by break of 132.13 minor support in EUR/JPY and 156.58 minor support in GBP/JPY to confirm Yen's general rebound. Secondly, we'd also see if EUR/CHF is breaking through 1.0678 temporary low to resume recent fall, and, whether EUR/GBP would follow through 0.8420 temporary low too.

In Europe, at the time of writing, FTSE is down -0.39%. DAX is up 0.06%. CAC is down -0.27%. Germany 10-year yield is up 0.017 at 0.107. Earlier in Asia, Nikkei dropped -1.87%. Hong Kong HSI dropped -0.45%. China Shanghai SSE rose 0.22%. Singapore Strait Times dropped -0.30%. Japan 10-year JGB yield dropped -0.0053 to 0.090.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9167; (P) 0.9209; (R1) 0.9232; More....

USD/CHF's fall from 0.9367 resumes by breaking 0.9183 temporary low. Intraday bias is back on the downside for 0.9162 support. Considering bearish divergence condition in daily MACD, firm break of 0.9162 support will argue that whole rise from 0.8925 has completed Deeper decline would be seen to 0.9017 support next. On the upside, break of 0.9251 minor resistance will turn bias back to the upside for retesting 0.9367 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
00:30 AUD NAB Business Confidence Q3 -1 17 18
06:00 GBP Public Sector Net Borrowing (GBP) Sep 21.0B 23.5B 19.8B 16.1B
12:30 CAD New Housing Price Index M/M Sep 0.40% 0.60% 0.70%
12:30 USD Initial Jobless Claims (Oct 15) 290K 298K 293K 296K
12:30 USD Philadelphia Fed Manufacturing Oct 23.8 26 30.7
14:00 USD Existing Home Sales Sep 6.00M 5.88M
14:00 EUR Eurozone Consumer Confidence Oct P -5 -4
14:30 USD Natural Gas Storage -61.0B 81B