Dollar Surges on Renewed Rally in Yields, Yen and Gold Tumble
Action Insight Daily Report 3-30-21

Dollar Surges on Renewed Rally in Yields, Yen and Gold Tumble

Dollar rides on renewed rally in US treasury yields and trades broadly higher today. The greenback's strength is quite overwhelming for now. On the other hand, Yen and Swiss Franc are trading as the weakest ones, followed by commodity currencies. The stock markets are having little reactions so far, with European indices mildly in black while US futures are just slightly now. We're not expecting drastic reactions in stocks unless 10-year yield could surge past 2% handle, which is still quite far away. But who knows?

Technically, Gold is now in focus as it's getting close to 1676.65 support. Break there will resume whole corrective fall from 2075.18 towards 50% retracement of 1160.17 to 2075.18 at 1617.67. We'd tentatively look for bottoming signal there. But further rise in yield, Dollar, and Gold could reinforce the moves of each other.

In Europe, currently, FTSE is up 0.10%. DAX is up 0.70%. CAC is up 0.51%. Germany 10-year yield is up 0.0522 at -0.263. Earlier in Asia, Nikkei rose 0.16%. Hong Kong HSI rose 0.84%. China Shanghai SSE rose 0.62%. Singapore Strait Times rose 0.48%. Japan 10-year JGB yield rose 0.0229 to 0.093.

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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) 109.53; (P) 109.69; (R1) 110.00; More...

USD/JPY's rally continues today and reaches as high as 110.38 so far. Intraday bias remains on the upside. Sustained break of long term channel resistance will carry larger bullish implication and target 111.71 resistance next. On the downside, below 109.70 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 108.40 support holds, in case of retreat.

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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
21:45 NZD Building Permits M/M Feb -18.20% 2.10% 1.50%
23:30 JPY Unemployment Rate Feb 2.90% 3.00% 2.90%
23:50 JPY Retail Trade Y/Y Feb -1.50% -2.80% -2.40%
06:00 EUR Germany Import Price Index Y/Y Feb 1.40% 1.00% -1.20%
07:00 CHF KOF Leading Indicator Mar 117.8 104.3 102.7
09:00 EUR Eurozone Economic Sentiment Mar 101 96 93.4
09:00 EUR Eurozone Services Sentiment Mar -9.3 -14.5 -17.1 -17
09:00 EUR Eurozone Industrial Confidence Mar 2 0 -3.3 -3.1
09:00 EUR Eurozone Consumer Confidence Mar F -10.8 -10.8 -10.8
09:00 EUR Eurozone Business Climate Mar 0.3 -0.14 -0.13
12:00 EUR Germany CPI M/M Mar P 0.50% 0.50% 0.70%
12:00 EUR Germany CPI Y/Y Mar P 1.70% 1.70% 1.30%
13:00 USD S&P/Case-Shiller Home Price Indices Y/Y Jan 10.70% 10.10%
13:00 USD Housing Price Index M/M Jan 1.30% 1.10%
14:00 USD Consumer Confidence Mar 96 91.3