Dollar Soars Broadly after All-Round Strong NFP
Action Insight Mid-Day Report 8-5-22

Dollar Soars Broadly after All-Round Strong NFP

Dollar soars broadly, together with benchmark treasury yields, after an all around strong non-farm payroll report. At the same times US futures tumble, apparently on expectations Fed's tightening pace will continue with such healthy job market. The greenback is now the strongest one for the week and the question is, whether it could break through some key near term levels before weekly close.

Technically, the most important level to monitor is 1.0095 minor support in EUR/USD. Firm break there will argue that medium term down trend is ready to resume through 0.9951 low. GBP/USD has already made progress on breaking 1.20623 minor support. USD/JPY also breaks 134.58 minor resistance. These two are both Dollar positive developments.

In Europe, at the time of writing, FTSE is down -0.34%. DAX is down -0.34%. CAC is down -0.71%. Germany 10-year yield is up 0.070 at 0.873. Earlier in Asia, Nikkei rose 0.87%. Hong Kong HSI rose 0.14%. China Shanghai SSE rose 1.19%. Singapore Strait Times rose 0.40%. Japan 10-year JGB yield dropped -0.0125 to 0.163.

Full Report Here

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

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 132.31; (P) 133.37; (R1) 133.97; More...

USD/JPY's rebound from 130.38 resumes after brief retreat. Break of 134.58 resistance suggests that correction from 139.37 has completed. Intraday bias is back to the upside for retesting 139.37 high. On the downside, below 132.50 minor support will resume the correction from 139.337 through 130.38 instead.

Full Report Here

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

Recommended Readings

S&P500: Bear Market Rally or Return to Growth?

GBPJPY Tests Support Trendline; Bias Bearish

Bitcoin Remains in Ascending Corridor

USDCAD Holding Steady Ahead of Jobs Data

Cliff Notes: Disparate Consequences of Global Fight Against Inflation

Not Yet time for BoE to Pause, Let Alone Flip

Fundamental Analysis | Technical Analysis
In-depth Reports
Bank of England Update Review: Dovish 50bp Rate Hike
RBA Board Raises Cash Rate by 50 Basis Points – Expect Another 50 in September
Eurozone Data Reinforces Case For Another 50 Basis Points ECB Hike
Ethereum Outperforms Bitcoin as Merge Continues to Attract Attention
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
22:30 AUD AiG Performance of Services Index Jul 51.7 48.8
23:30 JPY Labor Cash Earnings Y/Y Jun 2.20% 1.90% 1.00%
23:30 JPY Overall Household Spending Y/Y Jun 3.50% 1.50% -0.50%
05:00 JPY Leading Economic Index JunP 100.6 101.2 101.2
06:00 EUR Germany Industrial Production M/M Jun 0.40% -0.20% 0.20%
06:45 EUR France Trade Balance (EUR) Jun -13.1B -12.3B -13.0B -12.9B
08:00 EUR Italy Industrial Output M/M Jun -2.10% -0.30% -1.10%
12:30 USD Nonfarm Payrolls Jul 528K 250K 372K 398K
12:30 USD Unemployment Rate Jul 3.50% 3.60% 3.60%
12:30 USD Average Hourly Earnings M/M Jul 0.50% 0.30% 0.30% 0.40%
12:30 CAD Net Change in Employment Jul -30.6K 25.0K -43.2K
12:30 CAD Unemployment Rate Jul 4.90% 5.00% 4.90%
14:00 CAD Ivey PMI Jul 60.3 62.2