Dollar Back Under Pressure as Swiss Franc Surges Again
Action Insight Mid-Day Report 8-3-21

Dollar Back Under Pressure as Swiss Franc Surges Again

Dollar is under some pressure as falling treasury yield is weighing down the greenback. Canadian Dollar is even weaker as WTI oil price breaches 70 handle again. New Zealand and Australian Dollars are the stronger ones but gains are limited. The post RBA lift on Aussie is so far short-lived. Swiss Franc is actually taking the spotlight, extending near term rise against both Dollar and Euro.

Technically, as USD/CHF is extending the fall from 0.9273, eyes is now on 109.05 support in USD/JPY. Break will resume the decline from 111.65. If that happens, we'd then pay attention to whether it's accompanied by break of 1.1907 resistance in EUR/USD, which signals Dollar selling. Or GBP/JPY would break of 151.59 minor support, which signals Yen buying.

In Europe, at the time of writing, FTSE is up 0.18%. DAX is down -0.11%. CAC is up 0.77%. Germany 10-year yield is up 0.0049 at -0.480. Earlier in Asia, Nikkei dropped -0.50%. Hong Kong HSI dropped -0.16%. China Shanghai SSE dropped -0.47%. Singapore Strait Times dropped -0.38%. Japan 10-year JGB yield dropped -0.0118 to 0.010.

Full Report Here

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

RBA Sticks with Tapering in September, Shrugging Off Short-term Impacts of Lockdown
CFTC Commitments of Traders - Crude Oil's Net Long Increased Only Slightly Despite Price Rise
CFTC Commitments of Traders - Net Short of GBP Futures will Likely Trim Next Week
Central Bank Views | China Watch | Oil N' Gold | Special Topics

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9037; (P) 0.9053; (R1) 0.9067; More....

USD/CHF's fall continues today and reaches as low as 0.9021 so far. Intraday bias stays on the downside for retesting 0.8925 low. On the upside, break of 0.9074 minor resistance will turn intraday bias neutral first. But another fall will remain in favor as long as 55 day EMA (now at 0.9126) holds.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

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China's Warnings Weigh On Asian Equities

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Two Trades To Watch: WTI Oil, Dax

RBA Board Surprises by Maintaining Current Policy Settings

RBA Stay The Course – Next Up NZ Jobs: AUDUSD And NZDUSD

Fundamental Analysis | Technical Analysis
In-depth Reports
RBA Sticks with Tapering in September, Shrugging Off Short-term Impacts of Lockdown
RBA Board Surprises by Maintaining Current Policy Settings
Research UK - Economic Recovery is Set to Continue
FOMC: "Progress" Made but Is It Enough to Taper?
FOMC Review: Economy Moving Toward Inflation and Employment Goals. FOMC Minutes and Jackson Holes in Focus
Aussie to Stay Weak in Near-term as Lockdown Measures to Weigh On Third Quarter Growth. RBA could Delay Tapering
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:30 JPY Tokyo CPI Core Y/Y Jul 0.10% 0.00% 0.00%
23:50 JPY Monetary Base Y/Y Jul 15.40% 20.50% 19.10%
1:30 AUD Building Permits M/M Jun -6.70% -4.50% -7.10%
4:30 AUD RBA Interest Rate Decision 0.10% 0.10% 0.10%
7:00 CHF SECO Consumer Climate Q3 8 -5 -7
9:00 EUR Eurozone PPI M/M Jun 1.40% 0.90% 1.30%
9:00 EUR Eurozone PPI Y/Y Jun 10.20% 10.30% 9.60%
13:30 CAD Manufacturing PMI Jul 56.5
14:00 USD Factory Orders M/M Jun 1.10% 1.70%