Dollar Regains Ground on Job Data, Sterling Support by BoE Saunders
Action Insight Mid-Day Report 7-15-21

Dollar Regains Ground on Job Data, Sterling Support by BoE Saunders

Dollar regained some ground in European session, as assisted by mild pull back in stocks. The greenbacks stay firmer into US session as jobless claims data showed continuing improvement. Sterling is also stronger today after BoE policymaker Michael Saunders' hawkish comments. On the other hand, commodity currencies are trading lower, as led by pull back in New Zealand Dollar. But overall, most pairs are just range bound, while a firm direction is awaited.

Technically, developments remain rather indecisive. We'll keep an eye on commodity currencies today. USD/CAD might be trying to retest 1.2589 resistance as Dollar rebounds elsewhere. Break will resume whole rebound from 1.2005. Also, AUD/USD looks set to retest 0.7408 low. Firm break there will resume whole fall from 0.8006.

In Europe, at the time of writing, FTSE is down -0.69%. DAX is down -0.88%. CAC is down -0.74%. Germany 10-year yield is down -0.0068 at -0.326. Earlier in Asia, Nikkei dropped -1.15%. Hong Kong HSI rose 0.75%. China Shanghai SSE rose 1.02%. Singapore Strait Times dropped -0.42%. Japan 10-year JGB yield dropped -0.0061 to 0.014.

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

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Central Bank Views | China Watch | Oil N' Gold | Special Topics

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 109.69; (P) 110.19; (R1) 110.45; More...

USD/JPY recovers mildly but stays in established range. Intraday bias remains neutral first. Also, risk stays mildly on the downside with 111.65 resistance intact. On the downside, break of 109.52, and sustained trading below 55 day EMA (now at 109.85) will suggest that it's at least correcting the rise from 102.58. Deeper fall would be seen to 38.2% retracement of 102.58 to 111.65 at 108.18 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
01:00 AUD Consumer Inflation Expectations Jul 3.70% 4.40%
01:30 AUD Employment Change Jun 29.1K 20.3K 115.2K
01:30 AUD Unemployment Rate Jun 4.90% 5.00% 5.10%
02:00 CNY Retail Sales Y/Y Jun 12.10% 11.00% 12.40%
02:00 CNY Industrial Production Y/Y Jun 8.30% 7.90% 8.80%
02:00 CNY Fixed Asset Investment (YTD) Y/Y Jun 12.60% 12.50% 15.40%
02:00 CNY GDP Q/Q Q2 1.30% 1.30% 0.60%
02:00 CNY GDP Y/Y Q2 7.90% 8.10% 18.30%
04:30 JPY Tertiary Industry Index M/M May -2.70% -0.90% -0.70%
06:00 GBP Claimant Count Change Jun -114.7K -92.6K -151.4K
06:00 GBP ILO Unemployment Rate (3M) May 4.80% 4.70% 4.70%
06:00 GBP Average Earnings Including Bonus 3M/Y May 7.30% 7.20% 5.60% 5.70%
06:00 GBP Average Earnings Excluding Bonus 3M/Y May 6.60% 6.60% 5.60% 5.70%
12:30 CAD ADP Employment Change Jun -294.2K 101.6K -318.7K
12:30 USD Initial Jobless Claims (Jul 9) 360K 360K 373K 386K
12:30 USD Import Price Index M/M Jun 1.00% 1.00% 1.10%
12:30 USD Empire State Manufacturing Index Jul 43 19.2 17.4
12:30 USD Philadelphia Fed Manufacturing Survey Jul 21.9 28.3 30.7
13:15 USD Industrial Production M/M Jun 0.70% 0.80%
14:30 USD Natural Gas Storage 45B 16B