Dollar Rebounding after Strong PCE Inflation Data
Action Insight Mid-Day Report 10-29-21

Dollar Rebounding after Strong PCE Inflation Data

Dollar is trying to rebound broadly in early US session, partly on strong inflation data, and partly on month end flow. But overall, the greenback is just mixed for the week. For week Aussie and Swiss Franc are the strongest ones, with the latter lifted by strong buying against Euro. Yen is now the weakest one and will likely remain so. Euro and Canadian Dollar are both weak too as respective central bank meeting didn't produce sustainable buying in them.

In Europe, at the time of writing, FTSE is down -0.32%. DAC is down -0.53%. CAC is down -0.24%. Germany 10-year yield is up 0.0512 at -0.080. Earlier in Asia, Nikkei rose 0.25%. Hong Kong HSI dropped -0.70%. China Shanghai SSE rose 0.82%. Singapore Strait Times dropped -0.18%. Japan 10-year JGB yield rose 0.0114 to 0.100.

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

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USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 113.25; (P) 113.56; (R1) 113.86; More...

Intraday bias in USD/JPY is turned neutral again with current recovery. Corrective pattern from 114.69 might extend, but downside should be contained above 112.07 resistance turned support to bring rebound. On the upside, firm break of 114.69 will resume the larger up trend to 100% projection of 102.58 to 111.65 from 109.11 at 118.18 next.

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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 Core Y/Y Oct 0.10% 0.30% 0.10%
23:30 JPY Unemployment Rate Sep 2.80% 2.80% 2.80%
23:50 JPY Industrial Production M/M Sep P -5.40% -2.40% -3.60%
00:30 AUD Private Sector Credit M/M Sep 0.60% 0.60% 0.60%
00:30 AUD Retail Sales M/M Sep 1.30% 0.20% -1.70%
00:30 AUD PPI Q/Q Q3 1.10% 0.60% 0.70%
00:30 AUD PPI Y/Y Q3 2.90% 3.20% 2.20%
05:00 JPY Housing Starts Y/Y Sep 4.30% 7.50% 7.50%
05:30 EUR France Consumer Spending M/M Sep -0.20% 0.50% 1.00% 0.70%
05:30 EUR France GDP Q/Q Q3 P 3.00% 2.40% 1.10%
07:00 CHF KOF Leading Indicator Oct 110.7 108 110.6 111
08:00 EUR Italy GDP Q/Q Q3 P 2.60% 2.00% 2.70%
08:00 EUR Germany GDP Q/Q Q3 P 1.80% 2.20% 1.60%
08:30 GBP Mortgage Approvals Sep 73K 73K 74K
08:30 GBP M4 Money Supply M/M Sep 0.60% 0.50% 0.50%
10:00 EUR Eurozone GDP Q/Q Q3 P 2.20% 2.10% 2.20%
10:00 EUR Eurozone CPI Y/Y Oct P 4.10% 3.70% 3.40%
10:00 EUR Eurozone CPI Core Y/Y Oct P 2.10% 1.90% 1.90%
12:30 CAD GDP M/M Aug 0.40% 0.70% -0.10%
12:30 CAD Industrial Product Price M/M Sep 1.00% 1.00% -0.30%
12:30 CAD Raw Material Price Index Sep 2.50% 2.50% -2.40%
12:30 USD Personal Income M/M Sep -1.00% 0.10% 0.20%
12:30 USD Personal Spending M/M Sep 0.60% 0.60% 0.80%
12:30 USD PCE Price Index M/M Sep 0.30% 0.30% 0.40% 0.30%
12:30 USD PCE Price Index Y/Y Sep 4.40% 4.70% 4.30% 4.20%
12:30 USD Core PCE Price Index M/M Sep 0.20% 0.20% 0.30%
12:30 USD Core PCE Price Index Y/Y Sep 3.60% 3.70% 3.60%
12:30 USD Employment Cost Index Q3 1.30% 0.90% 0.70%
13:45 USD Chicago PMI Oct 63 64.7
14:00 USD Michigan Consumer Sentiment Index Oct F 71.4 71.4