Stocks and Yields Fall, Euro Staying Pressured
Action Insight Mid-Day Report 3-1-22

Stocks and Yields Fall, Euro Staying Pressured

Euro's broad based selloff continues today, even though it's still holding in range against Dollar and Sterling. But overall, European majors are weak. The greenback is somewhat capped by falling benchmark treasury yield. Yen is firm on risk-off sentiment but it's slightly out-performed by Aussie. In other markets, stocks are generally pressured in Europe while US futures are down. Gold is back above 1900 handle but lacks follow through buy yet. WTI crude oil resumes recent rally with new wave of buying.

Technically, Euro's weakness will remain a focus. EUR/CHF's decline extends below 1.0277 temporary low. EUR/AUD's break of 1.5354 support suggests that larger down trend is ready to resume through 1.5250 low. A question is when EUR/USD will join the party and break through 1.1105 temporary low.

In Europe, at the time of writing, FTSE is down -0.78%. DAX is down -2.26%. CAC is down -2.32%. Germany 10-year yield is down -0.095 at 0.038. Earlier in Asia, Nikkei rose 1.20%. Hong Kong HSI rose 0.77%. China Shanghai SSE rose 0.77%. Singapore Strait Times rose 1.12%. Japan 10-year JGB yield dropped -0.0040 to 0.181.

Full Report Here

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

EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.5390; (P) 1.5487; (R1) 1.5539; More...

EUR/AUD drops to as low as 1.5336 so far and intraday bias remains on the downside. Break of 1.5354 support should now pave the way to 1.5250 low. Decisive break there will resume larger down trend from 1.9799. Next near term target will be 100% projection of 1.6343 to 1.5354 from 1.6223 at 1.5143. On the upside, break of 1.5679 resistance is needed to indicate short term bottoming. Otherwise, outlook stays bearish in case of recovery.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

Aussie Steady as RBA Holds Pat

Euro Weakens on Ukraine Fighting

WTI Futures Shows Improvement Near 99.00

AUDUSD Rally Eyes Longer-Term Descending Trend Lines

GBPUSD Heals its Wounds as Bearish Bias Remains Present

Elliott Wave View: USDCAD Near Support Area

EURJPY Recovers the Gap, But Negative Risks Not Faded Yet

RBA Governor Broadens Measure of Wages Growth in Policy Decision Statement

Fundamental Analysis | Technical Analysis
In-depth Reports
How the Coming Fed Hiking Cycle Will Differ – and Why it Matters
Digital Revolution: Will Cryptocurrencies Take Over the World? Part IV
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
21:30 AUD AiG Performance of Mfg Index Feb 53.2 48.4
00:30 AUD Current Account (AUD) Q4 12.7B 14.3B 23.9B 22.0B
00:30 JPY Manufacturing PMI Feb F 52.7 52.9 52.9
01:00 CNY Manufacturing PMI Feb 50.2 49.9 50.1
01:00 CNY Non-Manufacturing PMI Feb 51.6 50.9 51.1
01:45 CNY Caixin Manufacturing PMI Feb 50.4 49.5 49.1
03:30 AUD RBA Interest Rate Decision 0.10% 0.10% 0.10%
08:30 CHF SVME PMI Feb 62.6 64.7 63.8
08:45 EUR Italy Manufacturing PMI Feb 58.3 59.2 58.3
08:50 EUR France Manufacturing PMI Feb F 57.2 57.6 57.6
08:55 EUR Germany Manufacturing PMI Feb F 58.4 58.5 58.5
09:00 EUR Eurozone Manufacturing PMI Feb F 58.2 58.4 58.4
09:30 GBP Manufacturing PMI Feb F 58 57.3 57.3
09:30 GBP Mortgage Approvals Jan 74K 72K 71K
09:30 GBP M4 Money Supply M/M Jan 0.10% 0.40% 0.10%
13:00 EUR Germany CPI M/M Feb P 0.90% 0.90% 0.40%
13:00 EUR Germany CPI Y/Y Feb P 5.10% 5.10% 4.90%
13:30 CAD GDP M/M Dec 0.00% 0.00% 0.60%
14:30 CAD Manufacturing PMI Feb 56.2
14:45 USD Manufacturing PMI Feb F 57.5 57.5
15:00 USD ISM Manufacturing PMI Feb 57.9 57.6
15:00 USD ISM Manufacturing Prices Paid Feb 77.5 76.1
15:00 USD ISM Manufacturing Employment Index Feb 54.5
15:00 USD Construction Spending M/M Jan -0.50% 0.20%