Dollar Weakens, Yen Strengthens, and Nikkei's New Highs
| Action Insight Daily Report 11-20-23 |
Dollar Weakens, Yen Strengthens, and Nikkei's New Highs |
Dollar's selloff intensified in today's Asian session, underpinned by strong risk-on sentiment prevalent in the market. This move was particularly evident in USD/JPY, which saw broke through an important near-term support level around the 149 mark, signaling the prospect for further decline. Yen's strength was mirrored by Chinese Yuan, while the Australian and New Zealand Dollars emerged as the strongest performers in the current environment so far. In contrast, Euro and Canadian Dollar, despite making noticeable gains against Dollar, ranked as the second and third weakest major currencies. Sterling and Swiss Franc, meanwhile, showed mixed performance... |
USD/JPY Daily Outlook Daily Pivots: (S1) 148.91; (P) 149.85; (R1) 150.49; More... USD/JPY's break of 149.17 support should confirm rejection by 151.93 resistance. Intraday bias is back on the downside for channel support medium term channel support at 145.80. On the downside, though, above 150.03 minor resistance will turn intraday bias neutral first. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
|---|
| 21:45 | NZD | PPI Input Q/Q Q3 | 1.20% | 0.20% | -0.20% | | 21:45 | NZD | PPI Output Q/Q Q3 | 0.80% | 0.40% | 0.20% | | 07:00 | GBP | Retail Sales M/M Oct | -0.30% | 0.30% | -0.90% | -1.10% | | 09:00 | EUR | Eurozone Current Account (EUR) Sep | 31.2B | 20.3B | 27.7B | 30.8B | | 10:00 | EUR | Eurozone CPI Y/Y Oct F | 2.90% | 2.90% | 2.90% | | 10:00 | EUR | Eurozone CPI Core Y/Y Oct F | 4.20% | 4.20% | 4.20% | | 13:30 | CAD | Industrial Product Price M/M Oct | -1.00% | 0.20% | 0.40% | | 13:30 | CAD | Raw Material Price Index Oct | -2.50% | -2.00% | 3.50% | 3.90% | | 13:30 | USD | Building Permits Oct | 1.49M | 1.45M | 1.47M | | 13:30 | USD | Housing Starts Oct | 1.37M | 1.36M | 1.36M |
|
|
|
