Dollar Higher after Jobless Claims, Yen Weakness Resumes
Action Insight Mid-Day Report 3-24-22

Dollar Higher after Jobless Claims, Yen Weakness Resumes

Yen's selloff resumes in early US session as selloff in bonds resume. Dollar picks up some buying after strong job data. But Swiss Franc is stronger with help from selloff in Euro. On the other hand. commodity currencies are turning weaker together with Euro, but pressure on them is still far from that on Yen.

Technically, both EUR/CAD and EUR/AUD are now getting closer to near support levels of 1.3760 and 1.4561 respectively. Firm break of these levels will resume larger down trend. If that happens, we'll see if EUR/USD would finally make up its mind to fall through 1.0899 minor support, or even 1.0805 low.

In Europe, at the time of writing, FTSE is up 0.12%. DAX is down -0.14%. CAC is up 0.08%. Germany 10-year yield is up 0.0060 at 0.526. Earlier in Asia, Nikkei rose 0.25%. Hong Kong HSI dropped -0.94%. China Shanghai SSE dropped -0.63%. Singapore Strait Times rose 1.05%. Japan 10-year JGB yield rose 0.0144 to 0.240.

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

AUD/USD Daily Report

Daily Pivots: (S1) 0.7464; (P) 0.7486; (R1) 0.7521; More...

A temporary top is formed at 0.7506 on loss of upside momentum. Intraday bias in AUD/USD is turned neutral first. Further rally is expected as long as 0.7372 support holds. On the upside, above 0.7506 will target 0.7555 resistance. Decisive break there should confirm that whole corrective decline from 0.8006 has completed at 0.6966. On the downside, however, break of 0.7372 will dampen this bullish case, and turn bias back to the downside for 0.7164 support.

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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
22:00 AUD Manufacturing PMI Mar P 57.3 57
22:00 AUD Services PMI Mar P 57.9 57.4
23:50 JPY BoJ Minutes
00:30 JPY Manufacturing PMI Mar P 53.2 52.7
07:45 EUR France Manufacturing PMI Mar P 54.8 55.1 57.2
08:15 EUR France Services PMI Mar P 57.4 55.2 55.5
08:30 CHF SNB Interest Rate Decision -0.75% -0.75% -0.75%
08:30 EUR Germany Manufacturing PMI Mar P 57.6 55.9 58.4
08:30 EUR Germany Services PMI Mar P 55 54.3 55.8
08:30 EUR ECB Economic Bulletin
09:00 EUR Eurozone Manufacturing PMI Mar P 57 56 58.2
09:00 EUR Eurozone Services PMI Mar P 54.8 54.3 55.5
09:00 GBP Manufacturing PMI Mar P 55.5 57.7 58
09:30 GBP Services PMI Mar P 61 58 60.5
12:30 USD Initial Jobless Claims (Mar 18) 187K 210K 214K 215K
12:30 USD Current Account (USD) Q4 -218B -218B -215B
12:30 USD Durable Goods Orders Feb -2.20% -0.60% 1.60%
12:30 USD Durable Goods Orders ex Transportation Feb -0.60% 0.50% 0.70% 0.80%
13:45 USD Manufacturing PMI Mar P 55 57.3
13:45 USD Services PMI Mar P 56 56.5
13:45 USD Natural Gas Storage -52B -79B