Tranquil Opening to a Data-Heavy Week: Major Data from US, UK, Japan Featured
Action Insight Daily Report 1-15-24 |
Tranquil Opening to a Data-Heavy Week: Major Data from US, UK, Japan Featured |
The forex markets commenced the week on a relatively quiet note, despite generally positive risk sentiment. This was highlighted by Japan's Nikkei, which continued its impressive performance, breaking above 35k mark to reach new three-decade highs. The robust momentum could continue until the eagerly awaited BoJ meeting later in the month, where fresh economic forecasts are set to be revealed. On the other hand, stocks in China and Hong Kong, meanwhile, presented a picture of stability, seemingly unaffected by PBoC's decision to keep the key policy interest rate unchanged. This decision, while unexpected, did not cause significant ripples in the markets, possibly due to a wait-and-see approach among investors in these regions. Currency markets, meanwhile, displayed a notable lack of dynamism. Major currency pairs and crosses were largely confined within the trading ranges established last Friday. Within this context, Sterling stands out as the month's strongest performer so far, a position followed by Dollar and then Euro. Conversely, Japanese Yen finds itself at the bottom of the performance ladder, with Australian and New Zealand Dollars also underperforming. Swiss Franc and Canadian Dollar are positioned in the middle.... |
EUR/USD Daily Outlook Daily Pivots: (S1) 1.0929; (P) 1.0958; (R1) 1.0980; More... EUR/USD is still bounded in range trading and intraday bias remains neutral. Further fall is in favor as long as 1.0997 minor resistance intact. Break of 1.0876 will resume the fall from 1.1138 to 1.0722 support next. Nevertheless, firm break of 1.0997 will turn bias back to the upside for retesting 1.1138 high instead. | |
GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
---|
23:50 | JPY | Money Supply M2+CD Y/Y Dec | 2.30% | 2.20% | 2.30% | 00:00 | AUD | TD Securities Inflation M/M Dec | 1.00% | 0.30% | 06:00 | JPY | Machine Tool Orders Y/Y Dec | -15.50% | -13.60% | 10:00 | EUR | Eurozone Industrial Production M/M Nov | -0.30% | -0.70% | 10:00 | EUR | Eurozone Trade Balance (EUR) Nov | 11.2B | 10.9B | 13:30 | CAD | Manufacturing Sales M/M Nov | 0.90% | -2.80% | 13:30 | CAD | Wholesale Sales M/M Nov | 0.80% | -0.50% | 15:30 | CAD | BoC Business Outlook Survey |
|
|
|