Dollar Retreats Mildly in Asian Session, Yen Lower after GDP
Action Insight Mid-Day Report 11-15-21

Aussie Jumps With Risk Appetite, Dollar Continues to Retreat

Australian Dollar leads other commodity currencies higher today, as supported by solid risk appetite. US futures indicate a much higher open and extended rally could push major indices to new record highs later this week. Dollar and Euro are currently the weakest ones for the day, followed by Yen. Sterling and Swiss Franc are mixed. In other markets, gold is trying to extend near term rally but upside momentum is weak. WTI crude oil is still defending 80 handle.

Technically, EUR/AUD's break of 1.5585 minor support suggests that rebound from 1.5354 is complete at 1.5743. Deeper fall would be seen back to 1.5354 low. When that happens, we'll see if it's accompanied by break of 0.7431 minor resistance in AUD/USD, or deeper down trend extension in EUR/USD. The latter case is favored.

In Europe, at the time of writing, FTSE is down -0.04%. DAX is up 0.31%. CAC is up 0.31%. Germany 10-year yield is up 0.0070 at -0.250. Earlier in Asia, Nikkei rose 0.56%. Hong Kong HSI rose 0.25%. China Shanghai SSE dropped -0.16%. Singapore Strait Times rose 0.38%. Japan 10-year JGB yield dropped -0.0078 to 0.068.

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3370; (P) 1.3398; (R1) 1.3442; More...

GBP/USD is staying in consolidation from 1.3351 temporary low and intraday bias remains neutral first. We'd continue to expect upside of recovery to be limited below 1.3606 resistance, to bring down trend resumption. On the downside, break of 1.3351 will extend the decline from 1.4248 to 1.3164 fibonacci level 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
23:50 JPY GDP Q/Q Q3 P -0.80% -0.20% 0.50%
23:50 JPY GDP Price Index Q3 P -1.10% -1.20% -1.10%
00:01 GBP Rightmove House Price Index M/M Nov -0.60% 1.80%
02:00 CNY Retail Sales Y/Y Oct 4.90% 3.80% 4.40%
02:00 CNY Industrial Production Y/Y Oct 3.50% 3.00% 3.10%
02:00 CNY Fixed Asset Investment YTD Y/Y Oct 6.10% 6.20% 7.30%
04:30 JPY Industrial Production M/M Sep F -5.40% -5.40% -5.40%
10:00 EUR Eurozone Trade Balance (EUR) Sep 6.1B 12.5B 11.1B
13:30 CAD Manufacturing Sales M/M Sep -3.00% -3.00% 0.50%
13:30 CAD Wholesale Sales M/M Sep 1.00% 1.10% 0.30%
13:30 USD Empire State Manufacturing Index Nov 30.9 20.2 19.8